Splunk's sales playbook outlines the stages of the sales process. The sales process starts with a site registration or self-guided evaluation. The next step is to Define a timeline to close the transaction.
Splunk's sales playbook outlines the stages of the sales process. The sales process starts with a site registration or self-guided evaluation. The next step is to Define a timeline to close the transaction.
Splunk's sales playbook outlines the stages of the sales process. The sales process starts with a site registration or self-guided evaluation. The next step is to Define a timeline to close the transaction.
Sales Playbook Stage Prospect & Discovery Qualification & Scoping Evaluation & Proof Commitment & Finalize Business Case Negotiate & Close Deployment Probability to Close 5% 25% 50% 75% 95% 100% Requirements by Stage
Build Splunk Value Stack Site registration or self-guided evaluation complete Newconverted qualified lead First meeting Qualify opportunity size Grass roots Organization Chart started Technical Champion identified Technical pain identified Business / Economic Players identified Business impact of technical pain identified Socialization meetings scheduled Update Splunk Value Stack with newinformation
Socialize solution with multiple technical buyers, business owners, organizations (Meetings, WebEx, etc.) Test your identified Technical Champion: - Validate accuracy of Splunk Value Stack Ask for sponsorship to meet Business Stakeholders, Economic Buyer Ask howthe transaction will be justified - Business Case needs - Procurement requirements - Legal requirements - Names to begin the process Define a mutually agreeable timeline to close the transaction Determine unique Use Case for Evaluation &Proof event Define Success Criteria for Evaluation & Proof event that maps to technical pain & solves the business impact SEbegins Technical Account Plan (TAP) SEbegins POCplan, CONFIRM Evaluation &Proof event details, schedule, requirements and determine client ability/capability to deploy CONFIRMEvaluation &Proof close out meeting attendees which must include the Technical Champion &Economic Buyer or Business Stakeholder benefiting fromour solution If requested, provide list price for budget
Successfully execute Evaluation &Proof event with defined Use Case and Success Criteria Capture newly discovered pain, event results, and business benefit for Business Case Test for expansion opportunities Host a close out meeting showcasing Splunk capability to solve the technical pain and business impact - Technical Champion & Economic Buyer or Business Stakeholder benefiting fromsolution must be present Update Splunk Value Stack Schedule a joint followup meeting with the Technical Champion and Economic Buyer SEupdates TAPand Customer Success Plan (CSP), including deployment plan and required actions Meet with Legal & Procurement and begin contract process
Face-to-face followup reviewof Validation Event with Technical Champion and Economic Buyer Validate Commitment to Purchase with Technical Champion and Economic Buyer Validate Business Case needs with Technical Champion and Economic Buyer Jointly reviewand finalize Business Case with Technical Champion Validate the agreed timeline with the Technical Champion and create a close plan for the transaction Present Business Case to the Economic Buyer Finalize steps with procurement &legal and confirmcontracting vehicle - Shrink Wrap - Enterprise contract - Professional Services Agreement - Statement of Work Confirmthe paper process (steps to signature) Confirmcommittee reviewschedule (if any) Execute Reference Calls SEupdates TAPand CSP, including deployment recommendations and required actions
Finalize contracting details - Shrink Wrap - Contract - Signatures Leverage Champion and Business Case to maximize deal size Negotiate and finalize agreement and pricing SEfinalized TAP, CSP, and deployment plan Executed Contractual Documents ConfirmBooking Finalize Professional Services Agreement and Statement of Work Begin Pre Engagement Checklist Engagement Post Engagement Value Realization Inside Sales and/or Rapid Transactions certain transactions, upgrades, or expansions can expedite stages of the Sales Playbook at the discretion of Sales Leadership
Visibility when you need IT most. 2011 Splunk inc. Company Confidential Sales Playbook Stage Prospect & Discovery Qualification & Scoping Evaluation & Proof Commitment & Finalize Business Case Negotiate & Close Deployment Questions to test ourselves with What is the Technical Pain? Who is the Technical Champion? Are there multiple Technical Buyers? What is the Business Impact of the Technical Pain? Who is the line of business stakeholder? What is the value of solving the Technical Pain? Why would this prospect buy now, within a defined time period? Why would the prospect buy anything? Why would this prospect buy Splunk? What are the next steps to advance the sales cycle? Who is the competition? Who are our enemies / aligned with the competition? Who have we socialized the solution with? - Howare they involved with the decision process? Did we Test our Technical Champion? - Ask for sponsorship to meet Business Stakeholders and Economic Buyer to socialize our solution? - Have we had preliminary discussion on Business Case needs and justified howthe prospect will justify the transaction? Have we defined a mutually agreeable timeline to close the transaction AND shared it back with the Technical Champion, Business Stakeholder, or Economic Buyer? Have we determined the use case for Evaluation &Proof event? Have we defined success criteria that maps to technical pain identified &solve the business impact? Did we schedule an Evaluation &Proof close out meeting which must include the Technical Champion &Economic Buyer or Business Owner benefiting fromsolution? Have we identified enemies yet? Should we engage a Splunk Executive? Is the Evaluation &Proof event clearly defined, time bound and measurable? Do the Use Case and Success Criteria solve to the Technical Pain and Business Impact? Is the Evaluation &Proof event close out meeting scheduled? - Is the Technical Champion &Economic Buyer or Business Stakeholder confirmed to attend? What expansion opportunities did we uncover during the Evaluation & Proof event? Have we tested our Technical Champion by asking to schedule a joint followup meeting with the Economic Buyer? Have we updated the Splunk Value Stack? Have we updated the business case with new information gained fromthe Evaluation &Proof event? Have we met with the Technical Champion and Economic Buyer and reviewed the Evaluation & Proof event results? Have we validated the Business Case with the Technical Champion and scheduled a review with the Economic Buyer? - Did we ask the EBif committee reviewor approval is required? - When does the committee meet and how often? - Did we ask where our project ranks on the list of projects to be reviewed? Did the Technical Champion validate the agreed timeline to close? Did the Technical Champion assist you in beginning the Procurement and Legal discussions? Are reference calls necessary? Have we discussed a deployment plan / strategy? Is the Paper Process Shrink Wrap? If not, do we understand all the steps involved in the Paper Process? When does committee meet next? Who ultimately signs the contract? What are all possible red flags with: - Legal - Purchasing - Vacation conflicts - Holiday conflicts - Enemies Is our Technical Champion aligned with the engagement? Is the engagement aligned with the Use Case that was used throughout the Sales Cycle? Who is the project sponsor? TECHNICAL CHAMPION ATechnical Champion is a person with technical credibility (power) and political respect (influence) that sells on our behalf while we are not there. Enterprise deals require more than one Technical Champion. COACH Acoach is not a Champion. We will have multiple coaches that guide us and shares information us. ECONOMIC BUYER Is the person with the ultimate YES, has discretionary use of funding and has the ability to fund our project over any other project, including projects outside of IT. The Technical Champion is rarely the Economic Buyer. COMPETITION Any software competitor in our space or other ANYproject we are competing with for funding. ENEMY Anyone who can prevent advancement of our sales cycle. TECHNICAL ACCOUNT PLAN - The Technical Account Plan (TAP) contains overall technical details for an account including key technical contacts, use cases, data sources, architecture, and relevant tools/processes. PROOF of CONCEPT PLAN - The Proof of Concept (POC) Plan includes the overall objective of the POC, success criteria, use cases, hardware and software requirements, schedule, and customer and Splunk responsibilities. CUSTOMER SUCCESS PLAN - The Customer Success Plan(CSP) includes achecklist of key items that need tobeconsideredfor any successful deployment includingservices, education, architecture, overall customer readiness, Splunk staffing, andhighlevel Project Plan/Roadmap. SPLUNK VALUE STACK - Through research, our understanding of a Prospect or Customers Corporate Objectives, Business Strategies, Initiatives, and Technical Challenges (needs), in an effort to align with Splunk Solutions.