Are You Keeping Your Customers Up at Night? 
By Kendra Lee
Effective consultative salespeople know how to keep their customers up at night. By that I mean they know "how to get in their customers' heads" by asking questions that will force them to think about the issues that are important to their business. It's up to you to become their business conscience.
True, not everyone wants to be reminded of the difficult challenges that may be confronting them, but by filling this role, a consultative seller will further enhance their credibility and value to their customers. You'll be the person who attracts their attention and keeps their interest because of your ability to get them to focus on the important issues at hand, that can't be overlooked.
For example, one of my customer executives was concerned about the fact that only 19% of his sales force was making their quota. At the same time, he saw an opportunity to greatly improve their revenue position based on the fact that 76% of the remaining sales force was regularly within 20% of their quotas. Last November he told me that he wanted to make it a priority to find a way to get the sales people, who were within easy reach of their quotas, to achieve their sales goals.
Viewing myself as his sales consultant even though he had not yet purchased anything, I have stayed in touch and prodded him – always to hear this was still a priority but that no action had been taken. His many business priorities had gotten in the way. I then posed one very well thought out question.
"Why was he avoiding taking action when he had already quantified the lost revenue this situation was causing?"
Based on my question – one that certainly got his attention and made, by his own admission, for some sleepless nights – he and I have established a plan that he's now following through on. Without the prodding and attention I displayed, the opportunity to find a way to increase revenue may have been lost while he continued spending money and time, and losing revenue, on the wrong sales strategy.
In my situation, the questions to ask were fairly obvious, but it's not always easy to know what the most effective and strategic questions to ask are. With this in mind, there are three thought-provoking questions any consultative salesperson can use that will cause their customers to hesitate and give a situation serious consideration:
- What are the strategies you're not focusing on? -- This question will cause a person to think about what they may be overlooking or not giving enough time and attention to. People frequently lose sight of even the most basic strategies for success, and you can help them become grounded again.
- What is the return on investment you're not getting, but should? -- This question will help your customer to consider if they're achieving the results they expected, and if not, why. It's an excellent way to address any problems or issues before they become unmanageable.
- What is causing the biggest issue; your people, processes or budget? -- This question will help your customer pinpoint where their biggest challenges exist and begin to develop a plan to resolve the situation.
Once these questions are presented, it's critical for you to continue to follow-up on what's been asked. You may make suggestions and recommendations, but until you see your customer take action, don't let them off the hook. And, don't let them try to provide easy answers, otherwise nothing will be accomplished. Your interest and attentiveness to what's being done might cause some discomfort for your customer, but by following-through, they will realize the benefits of the exercise and having you on their team.
Kendra Lee is author of “Selling Against the Goal” and president of KLA Group. Specializing in the IT industry, KLA Group helps companies rapidly penetrate new markets, break into new accounts and shorten time to revenue with new products. Ms. Lee is a frequent speaker at national sales meetings and association events. For more information, contact the company at +1 303.741.6636 or info@klagroup.com or visit www.klagroup.com.
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2007 Was a Good Year for Software IPOs and M&As, SoftwareCEO Annual Reports Finds
Last year was a good year for software firms to go public, or do a merger or acquisition, concludes a special report released this week by software industry portal SoftwareCEO.com, part of the Computing Technology Industry Association (CompTIA).
The sixth annual report reveals that technology merger and acquisition (M&A) activity in the United States in 2007 totaled $268 billion, while initial public offering (IPO) activity totaled $15 billion. That means roughly 18 times as much money flowed through M&As as through IPOs, though an IPO remains the dream of many software company founders.
“The rule of thumb is that a software company can raise two to three times as much going public as through an M&A, but only if all the conditions are perfect,” said David Sommer, publisher of SoftwareCEO. “When money is tighter, we see more M&A activity.”
Software company M&A valuations were 2.5 to 3 times company revenues. Typical IPO valuations ranged from 6 to 10 times revenues, with some reaching much higher.
“Our numbers confirm that 2007 was a good year for software firms to go public,” Sommer said. “In fact, the criteria for going public became a little more forgiving in 2007. This tells us there was more money chasing more deals, and more investors willing to wait a little longer to see profits.”
SoftwareCEO tracked 23 IPOs for firms considered to be “pure software” or “software service” companies and analyzed the results across 18 different categories.
Other highlights of the report include (all values are medians in USD):
·The typical software company that went public in 2007 had revenues of $46 million and a net loss of $4.8 million. That was the worst income performance since 2000.
- The typical software company that went public in 2007 had revenues of $46 million and a net loss of $4.8 million. That was the worst income performance since 2000.
- Still, revenue multiples were the highest in four years, typically 9.8x.
- The typical software IPO firm sold 21.1 percent of its equity to raise $100 million.
- The total market cap at IPO time was $433.4 million.
- Since going public, share price typically went up 23.8 percent by year-end.
- The typical software CEO’s stake was worth $22.1 million at IPO time, increasing to $26.5 million by year-end.
For a complete copy of the report, and a link to the accompany spreadsheet, visit http://www.softwareceo.com/attachments/softwareceo/com021908.php.
Intacct Launches Expanded Channel Partner Program
Intacct, a leader in on-demand accounting and financial management solutions, has launched the Intacct Business Solution Provider partner program. This new component to Intacct's channel and alliances program establishes a network of partners that will provide value-added sales and integration services that are complementary to Intacct's applications. Intacct expects the new partner program to attract the top five to seven percent of the more than 10,000 companies that resell accounting, financial management, and enterprise resource planning (ERP) solution in North America.
Partners in the Intacct Business Solution Provider partner program will sell and implement Intacct financial management applications either standalone or in conjunction with other applications, such as Customer Relationship Management and Human Resources solutions, to small and mid-sized businesses. Many of the partners will have a focus on specific vertical industries not already served by Intacct. With this new program, Intacct expects its indirect channel to deliver more than 50 percent of the company's revenue by the end of 2009, and significantly expand its footprint in the financial applications market.
Intacct has designed a program that will enable partners to get up and running quickly selling and implementing Intacct solutions. The program features a low cost of entry, with no revenue minimums required. Partners are offered generous discounts on Intacct subscriptions that are tied to achievable annual revenue targets, and the partners own the relationship with the client throughout the lifetime of the subscription.
"We launched this program as a vehicle to enable VARs and integrators to actively participate in the rapidly growing on-demand ecosystem," said Jerry Jalaba, vice president of channel sales for Intacct. "At a time when the on-demand financial applications market is exploding, the Intacct Business Solution Provider partner program helps resellers and systems integrators deliver solutions that meet a broad range of back-office financial system needs. This program will significantly expand our current partner base and create added reach and scale across the small to mid-sized business market."
Intacct is focused on developing a scalable, leveraged, and cost effective go-to-market selling ecosystem for the company's on-demand financial management applications. Intacct's partner programs have already attracted more than 100 partners, focusing on Business Process Outsourcers (firms that that use Intacct financial management applications to service their clients), CPA firms, Implementation Partners, and OEM partners that embed Intacct applications as part of their solutions. This new program will be the first time Intacct has actively sought out traditional software resellers and systems integrators.
In addition, the company has established strong alliances with complementary platform, application, and integration providers, including salesforce.com, IBM, CompuPay, LucidEra, Boomi, and Adaptive Planning among others.
Contact www.intaact.com
SolutionsIQ Helps With Microsoft SharePoint Training
SolutionsIQ Inc., a leading provider of information technology services, staffing and consulting, has partnered with Microsoft to create two eLearning tools: The Microsoft Office SharePoint Server 2007 Training and Office SharePoint Designer Training. Both Solutions are based on the Microsoft SharePoint Learning Kit Technology, which SolutionsIQ has become a leading partner in customizing for its clients.
To encourage and simplify the training process, SolutionsIQ developed content conversion capabilities that allow existing Microsoft Office training content to be used for effective Office SharePoint Server 2007 e-learning. This includes existing materials already created within Microsoft Word or PowerPoint. The training allows administrators to install and add customized training programs that can be automatically assigned and accessed on-demand and at the convenience of employees. Advanced reporting capabilities also let training professionals monitor the status and frequency of training sessions and, as more curriculum content becomes available, easily upload new content for a continuous and efficient learning experience.
"Working with Microsoft to develop the Microsoft Office SharePoint Server 2007 Training will result in broader adoption and enhance the value derived from the Office SharePoint Server platform," said Charlie Rudd, CEO of SolutionsIQ. "Partnering with Microsoft, we have developed an automated system that is easy to use and leverages existing content for an improved e-learning experience that benefits both the organization and end-users of the system."
SolutionsIQ's contributions are part of the GEAR Up program announced by Microsoft. This online content tool will assist IT professionals and business managers to find timely resources and guidance through phases of a typical SharePoint Server 2007 deployment cycle: Get Ready, Engineer, Adopt, and Release. GEAR Up also includes the new 'Internal Buzz Kit' for SharePoint Server 2007. The kit provides sample materials to help kick off go-live communications and user training, including videos, presentations, posters, training certificates, and guidance on how customers can run an 'internal buzz campaign'.
Contact www.SolutionsIQ.com
Attensity VoC On-Demand Provides Secure 'Voice of the Customer' Analysis Via Web Browser
Attensity, a developer of text analytics software for First Person Intelligence, released Attensity VoC On-Demand, a new secure software as a service (SaaS) that enables users to access the company's "Voice of the Customer" (VoC) solution via the Web for on-demand customer feedback analysis. Enterprises can now extract and analyze critical data about their customers in Attensity's easily accessible user interface and through customizable analytic dashboards.
Attensity's VoC solution uses the company's patented Exhaustive Extraction engine to automatically identify facts, opinions, requests, trends and trouble areas from unstructured first person feedback found in surveys, service and call center notes, emails, Web forums, Blogs, news articles and other forms of customer contact. Attensity turns the first person feedback into First Person Intelligence enabling Attensity users to proactively understand and rapidly react to customer issues and requests. They also have the ability to discover product and/or service offering opportunities as well as potential areas for improvement. What's more, customers can analyze and understand NetPromoter Scores (NPS), which gauge an organization's customer loyalty based on satisfaction surveys. The VoC application provides root cause analysis on NPS "promoter" and "detractor" designations, which indicate positive assets that drive purchases and liabilities that destroy profits because of complaints.
"Attensity VoC On-Demand makes it easy and efficient for enterprises to harness invaluable customer insights made possible by our VoC solution - now without the extra effort required to install and integrate local versions of our software," Craig Norris, Attensity's CEO, said. "This new option provides our users with a true at-their-fingertips solution to help retain customers, increase revenues, and uncover opportunities to develop and enhance products and services."
Users of Attensity VoC On-Demand now have online access to the VoC application through any web browser, giving them the ability to analyze freeform customer feedback through a user interface and easy-to-use dashboards. The service supports automatic extractions and refreshes of data sources, such as survey responses and emails, and the provision of reports and dashboards on customer feedback.
Attensity VoC On-Demand also offers a quick start implementation program, which includes appropriate data preparation - dictionary, domain and categorization development - to prepare data sets for extraction and output views and dashboards. Users can develop predefined analysis views, known as query templates, and distinctive dashboards tailored to the user organization's requirements.
Contact www.attensity.com
Blueroads Offers Partner Opportunity Management Solution
Blueroads, a provider of Partner Opportunity Management (POM) solutions for medium-to-large enterprises, today announced significant enhancements to its Partner Opportunity Management solution. In this latest version of their SaaS solution, Blueroads has included an enhanced approval workflow and approval audit capabilities to meet the needs of large enterprises where multiple levels of approval across the enterprise are not simply desired, but required.
Medium and large-sized corporations may require approvals from multiple team members within and outside of the standard sales and marketing organization and often, these approvals also need to occur within a specific time frame.
"Blueroads continues to raise the bar when it comes to Partner Opportunity Management solutions," said Martha Stuart, Director of Marketing at anti-virus and anti-spam leader Sophos."This results in more successful partners, and a more effective channel program across all of Sophos."
Blueroads has always delivered bi-directional value to both vendors and partners, driving increased adoption and substantial revenue increase for both vendor and partner. These enhancements reflect Blueroads singular dedication to the needs of complex, multi-dimensional channel organizations.
Contact www.blueroads.com
Channel Partners Authorized to Sell a Combined Unified Communications Solution from Cbeyond and Cisco
Cbeyond, Inc. plans to establish a partnership with leading IT products distributor Tech Data Corporation. This relationship is designed to increase the number of Cbeyond channel partners in the United States by leveraging Tech Data's extensive network of channel partners to resell an innovative unified communications solution featuring Cbeyond's BeyondVoice with SIPconnect service and Cisco's Smart Business Communications System (SBCS).
"This is an exciting new partnership for Cbeyond as it extends our distribution reach to include Tech Data's nationwide network of channel partners," said Rob Consolazio, vice president and general manager of channel development for Cbeyond. "Participating channel partners will benefit from Tech Data and Cbeyond's combined marketing initiatives and local channel support. In addition, Cbeyond's success-based compensation plans can double the value of a phone system sale when a channel partner integrates the Cbeyond BeyondVoice with SIPconnect service with the Cisco SBCS."
Under the terms of the agreement, Tech Data will build awareness among its extensive channel partner network about the benefits of selling a turn-key unified communications solution. To ensure their success, channel partners will receive solutions training and product configuration tools by Cbeyond and Tech Data, including Cisco Select Certified Partner Training through the distributor's TDEducation technical training and certification services team.
Contact www.cbeyond.net
Sage Announces Global CRM Strategy
Sage CRM Solutions 2010 is a comprehensive product and technology vision to guide development of the Sage CRM Solutions product family that includes ACT! by Sage, SageCRM, and Sage SalesLogix. The strategy addresses distinct business requirements; creates new interoperability among the Sage CRM Solutions family; applies open Web standards to enable a connected front and back-office; and incorporates emerging Web 2.0 technologies.
“Our customers have the potential to grow and enhance their businesses through the insights that our CRM solutions can offer them and the implementation of this strategy will help them achieve that potential," explained Joe Bergera, executive vice president and global general manager, Sage CRM Solutions. "CRM has reached a critical turning point. Customers tell us their requirements have moved beyond the on-premise versus hosted debate. They want a pragmatic approach that delivers a fully functional ‘anywhere user experience’ supported by a connected front-office and back-office environment, and interoperability between our market leading contact management products and CRM suites.”
The strategy – developed through research among the Sage customer base of more than 5.5 million business management software and services customers – identifies tangible opportunities that small and mid-sized businesses and divisions of enterprises can take advantage of this year, with additional capabilities being delivered incrementally through 2010.
Contact www.sagesoftware.com
Bluewolf And BigMachines Announce Alliance to Deliver SaaS Solutions to Manufacturers
Bluewolf and BigMachines have entered a strategic alliance to provide SaaS configuration and quoting solutions and services for high tech, industrial and medical companies.
Under the terms of the strategic alliance, Bluewolf and BigMachines have agreed to participate in joint marketing and consulting to better automate the quote-to-cash process. Bluewolf will train and deploy a team of BigMachines experts to rapidly deploy the BigMachines Lean Front-End (LFE) and to ensure that customers are successfully automating their quote-to-cash processes. In addition, Bluewolf will expand its Customer Success Guarantee deployment methodology to include the specific deliverables associated with a successful Big Machines deployment, including seamless integration to CRM applications, such as salesforce.com.
According to Doug Timmel, Bluewolf's Director of Industry Solutions and a 25-year veteran in the industrial manufacturing market, "The SaaS market has moved beyond just Customer Relationship Management (CRM), and is now offering solutions for verticals such as manufacturing to enable them to realize the benefits of SaaS. As a leader in implementing SaaS solutions for the manufacturing industry, we are thrilled to announce our new partnership with Big Machines, extending our offerings for manufacturing companies. Bluewolf's ability to provide vertical consulting services to manufacturers for their quote-to-cash processes is greatly enhanced by our partnership with BigMachines."
"Bluewolf's eight year track record of providing high end SaaS Consulting Services is a perfect fit to help BigMachines continue to achieve its growth and customer success goals," said Greg Swender, Vice President of Marketing at BigMachines. "We are excited about our strategic alliance and believe that our customers will significantly benefit from the combined strength of both Bluewolf and BigMachines."
Contact www.bluewolf.com
Contact www.bigmachines.com |
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March
March 16-20 – DAMA & Wilshire, San Diego, Calif. Contact www.wilshireconferences.com
March 17-20 – The CEO Bootcamp plus Strategic Planning Retreat, Sedona, Ariz. Contact www.clevelbootcamp.com
March 18-20 – AjaxWorld East, New York, NY. Contact www.ajaxworld.com
March 25-26 – SaaSCon, Santa Clara, Calif. Contact www.saascon.com
April
April 1-2 – C-level Executive and VP Bootcamp, San Francisco, Calif. Contact www.clevelbootcamp.com
April 3-4 – SLAM 2008, San Francisco, Calif. Contact www.SLAMConference.com
April 3-4 -- SaaS Economics Summit, San Francisco. Contact www.SaaSEconomics.com
April 3-4
SLAM 2008, San Francisco, Calif. Contact www.SLAMConference.com
April 3-4
SaaS Economics Summit, San Francisco. Contact www.SaaSEconomics.com
World Financial Symposiums
May 15, 2008
Renaissance Boston Waterfront Hotel
(WFS) is an international organization dedicated to educating technology leaders. It organizes and promotes forums for CEOs, CFOs, corporate investors and other deal participants for the software and IT industries, with the intent to educate and encourage deal flow among industry participants.
This is the sixth year WFS is producing these events for leaders of technology and software companies in the U.S. and Europe. The upcoming Boston event is featuring a new program – a special afternoon M&A event, where the best authorities on M&A Strategies for Software and Internet Companies will speak and network. The conference will be held on May 15, 2008 at the Renaissance Boston WaterfrontHotel in Boston, from noon to 5 pm, followed by cocktails. You won’t want to miss this outstanding afternoon event.
To register, please visit www.worldfinancialsymposiums.com
CMMA2008
ENIT2008
June 17-20
Singapore
One Global Platform offering the complete digital convergence experience through our signature events. Each event individually tailored to your specific needs and wants.
CommunicAsia, rank as Asia’s largest and most important ICT event not to be missed, CommunicAsia Exhibition serves as a global platform for top operators, service providers, regulators, vendors and consultants to network, exchange industry best practices and shape the future of technology.
With over 50,000 attendees in CommunicAsia2007; of which 50% was from overseas, this 4-day event promises a host of complementary activities to keep you well informed, identify key trends, innovations and solutions when you visit CommunicAsia2008. Be sure to meet the key decision people and observe market developments.
Pre-Register or visit us for more information: www.CommunicAsia.com
June 25-26 
Ecosystems Summit, Denver, Colo. Contact www.EcosystemsSummit.com
October 30-31 
Software Business 2008, San Francisco, Calif. Contact www.SoftwareBusinessOnline.com
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