Images courtesy of Austal Usa, Austal Australia, United States Navy, Maritime Industrial Services Co. Ltd. Inc.

in Sharjah, UAE, Intersection Design, France and Baglietto Shipyards, Italy, Shanghai Design Associates, China, and Zhejiang Shipyards, China

TAS Targeted Account Selling: Glossary

Prepared by Michael Viala

www.ShipConstructor.com
Copyright 2011 ShipConstructor Software Inc. 2011-08-19

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SHIPBUILDING SOFTWARE SOLUTIONS

GLOSSARY OF TERMS CORE TERMS

CE Compelling Event - Something that is compelling the client to act now. Questions: 1. 2. 3. 4. 5. What What What What What is compelling the client to act? is the deadline? are the consequences of delay? is the payback for the client? will be the measurable impact on the clients business?

UBV Unique Business Value - The thing or things which you offer that differentiate you from the other vendors. It may be product, feature set, business objective, or service offering. Questions: 1. 2. 3. 4. 5. 6. What is the measurable business result being sought? How does the client define value? How will they measure it? How have we quantified the value in the clients terms? Has the customer confirmed their understanding of the value we deliver? How does this value differentiate us from our competitors?

PA Political Alignment Determining the level of influence individuals have on the purchasing process and making sure that you have the support of key people. Questions: 1. 2. 3. 4. 5. 6. 7. 8. 9. How well were you able to connect with the client to understand their needs? Who are the most powerful people involved in this decisions? Do they want us to win? Why or Why not? Are they able to influence or change the decision criteria? Do you have inside support? Do you have executive credibility? Do the people you are talking to have executive credibility? Do you have cultural compatibility with those you are talking to? Do you know both the formal and informal decision criteria?

SHIPBUILDING SOFTWARE SOLUTIONS

OPPORTUNITY ASSESSMENT - CE & UBV KNOWN THROUGH PA

Opportunity Profile A description of the opportunity. Questions: 1. 2. 3. 4. 5. What are the prospects requirements, pain points and drivers versus what we have to offer? What are the desired objectives and outcomes? What is the budget allocated to achieve these objectives or outcomes? Can we compete? (See below) Can we win? (See below)

Business Profile A description of the clients business. Learn through inside champions (PA), SSI dealer network, tradeshows, G&T parties, constant follow up (building PA), Google alerts/ news, Worldwide Shipyards Directory. Questions: 1. 2. 3. 4. 5. Primary products and services? Major markets? Key competitors? Business and financial trends? Significant events (e.g. mergers, acquisitions, new products, etc.)

CAN WE COMPETE?

UBV- Formal Decision Criteria - The official factors used to evaluate a decision. Questions: 1. 2. 3. 4. What are the decision criteria? What is the decision process? What decision criteria are most important and why? Who formulates the decision criteria?

UBV - Solution Fit How well our solution matches their needs Questions: 1. 2. 3. 4. How well does ShipConstructor solve the prospects problem What does the prospect think? What modifications or enhancements are required? What external resources are needed to meet the prospects requirements?

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SHIPBUILDING SOFTWARE SOLUTIONS UBV - Current Relationship - What the client currently thinks of you and the ShipConstructor solution. This looks like political alignment but it is different. With a prospect, the effort is all about Sales & Marketing. When its with a client, you need to maintain good client relations. Questions: 1. 2. 3. 4. Status of current relationship? Status of competitor relationship? Who has the advantage? What is the prospects idea of an ideal relationship and how do you and your competitors measure up?

UBV - Resources Required - Resources needed to win the opportunity. Some opportunities require too much resource commitment to pursue. Questions: 1. 2. 3. 4. Time? Internal or external resources? Projected cost of sale? Opportunity cost?

CAN WE WIN?

PA - Inside Support - People in the prospects organization who want you to win. Questions: 1. 2. 3. 4. Do we have internal champions? What have they done to indicate support? Are they willing and able to act on your behalf? Do they have credibility internally?

PA - Executive Credibility People in the prospects organization who want you to win. Questions: 1. 2. 3. 4. Which execs will be affected by this decision? Have you established trust and credibility with them? How will you gain access to those executives? Do they have credibility internally?

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SHIPBUILDING SOFTWARE SOLUTIONS PA Cultural Compatibility The cultural fit between how you do business and how the prospect/client operates. Questions: 1. What cultural considerations need to be understood and taken into account? 2. Can we adjust or adapt? Do we want to? PA- Informal Decision Criteria - What factors really affect the decision? Questions: 1. How will the decision really be made? 2. What intangible, subjective factors could affect this decision? 3. What are the unstated issues?

FORMAL ROLES IN THE BUYING PROCESS

A Approver - A high-ranking person who retains the right to review, approve or veto lower-level decisions. Decisions by subordinates with credibility are regularly approved. Less experienced or unproven Decision-Makers run a more difficult course of formal and informal approvals. Often, dollar thresholds are set to delineate this approval process. D Decision-Maker - After analyzing the evaluation results and listen to recommendations, the Decision-Maker will make the commitment. Typically, The Decision-Maker has been officially chartered with responsibility and accountability for accomplishing a specific set of objectives. E Evaluator - Evaluators are responsible for analyzing your product, service or proposal, comparing it to pre-defined criteria, and making a recommendation to management. Often management will form a committee to conduct the evaluation. There can be product, purchasing and legal evaluators. U User - Someone who will directly use your product or service. Users will often play other roles in the buying process. Status of the Formal Roles * Advocate - A person who believes that your success is critical to their company or to them personally. A mentor will work to help you win by giving feedback, guidance, political insight, or competitive information. A mentor takes a personal interest in your success and will sell in your absence. + Supporter - A person who prefers your solution and thinks that you should win. A supporter will typically provide you information or assistance, if you request. However, they may not be vocal in their support. = Neutral - A person who shows no preference. They could be ambivalent, or they may have chosen not to display their true feelings. They may not have decided, or you may not have demonstrated sufficient value to gain their support. - Non-supporter - A person who believes you shouldnt win and /or prefers an alternative to your solution: your competitor, an internal solution, or nothing at all. 5|Page