From the Editor
IS YOUR BUSINESS READY FOR HIGH-LEVEL COMPETITION? A case study - The Little Guy vs. IBM The Challenge A client (a small software company) was attempting to sell to a significant international prospect covered by a team of 40 IBM sales reps. The client CEO knew they had better products and could turn the transaction into a lucrative long-term account if they could get to the right people and make an initial sale. The Foundation The client had an account manager with the right talent and mindset to conduct an executive conversation. The client did have better products and a robust implementation process, but there was no name recognition, so it would take some hard work to get in, let alone land a deal.
Next, we identified the people and positions at the prospect's organization where we thought our client could have the most impact. The company took the list to their existing clients and asked if they knew anyone on the list or had a connection outside of the list. If yes, they asked to be introduced - introductions are twenty times more potent than a cold call. The Result It took nine months, but the company was able to land its first deal. Their implementation process included a weekly meeting, where all attendees completed an implementation report card.
But they had good testimonials and some impressive accounts already. Getting the business was very doable if they were willing to be patient and work strategically.
Any time a particular target area fell below a certain mark, the teams pulled together to raise the impact within a week. This strategy caused all the stakeholders and the implementation team to work consistently, moving in the same direction.
The Strategy The first thing we did was a little homework to determine where IBM's weaknesses were and how the client's strengths mapped with those of the international prospect.
The project finished ahead of schedule and was the smoothest project in the international company's history. It went so well that the value expectation was exceeded, and the company was given another deal.
