PARTICIPANT GUIDE IMPAX IMPAX NXTGEN™ SALES PROCESS SELLING WORKSHOP POWERED BY ABOUT THIS PARTICIPANT GUIDE This participant guide has been designed for your use as you attend the IMPAX NxtGen™ Selling Workshop. This book captures the key concepts of the IMPAX NxtGen™ Process. We left room for you to take notes during your workshop so that this guide can become your personalized reference tool. For additional information or to order materials, contact IMPAX: toll free: (800) 457-4727 office: +1 203 2221900 email: info@impaxcorp.com www.impaxcorp.com IMPAX ® is a registered trademark of IMPAX Corporation. 2020 Copyright IMPAX Corporation. All Rights Reserved. 2 IMPAX NXTGEN™ SELLING REFERENCE SLIDES 2020 Copyright IMPAX Corporation. All Rights Reserved. 3 2020 Copyright IMPAX Corporation. All Rights Reserved. 4 2020 Copyright IMPAX Corporation. All Rights Reserved. 5 2020 Copyright IMPAX Corporation. All Rights Reserved. 6 2020 Copyright IMPAX Corporation. 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All Rights Reserved. 19 Profile • • • • • • • • Strong heritage – founded 1927, merged with Dominion 1980, public 2000 #1 market position in Canada – 28% Top 10 most recognized brands Services - Grain Brokerage – 78% - Chemical Sales – 22% Mission Statement – to support our farmer partners in increasing yields to feed the world Customers - 13,500 individual farms - 300+ elevators Competitive edge – market leading customer service Corporate Values – “SEPT” Safety, Environment, People, Teamwork (family culture) Business Objectives • • • • • • • • • Issues • • • • • • • • • Fair trade (legislation, regulation) Global competition – especially Middle East & China Open borders Difficult economic conditions – worldwide recession, grain price fluctuations Varying customer yields Environmental pressure on farming practices Lack of resources due to turnover & financial constraints, budget cuts Pressure to attain targets Degree of change - internal, org, market 2020 Copyright IMPAX Corporation. 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Increase revenues – 12% / year growth US/Mexico growth Increase profitability - gross margin up 2% from approx. 17% last year) Improve return to shareholders - 13% ROCE Improve customer satisfaction/ retention 96% satisfaction target on annual “CSAT” survey Strong environmental stewardship “Lead the Industry, Delight the Stakeholders” Operational efficiency, vendor management - Reduce supplier base 30+% Community involvement Employer of choice Strategies • Investment in IT - complete ERP installation E-O-Y, vendor management system Re-organization • • Right people, development, retention (reduce T.O. to 7%) Metrics and accountability standards, P&L Identify best practices - • • • • • • operational, environmental, customer service Brand development – Co-opmarketing, increase ad spending Increase R&D spending Improve distribution network – J-I-T Alliance with CNE Reduce SG&A 6% - cost control 20 Profile • • • • • • • • Strong heritage – founded 1927, merged with Dominion 1980, public 2000 #1 market position in Canada – 28% Top 10 most recognized brands Services - Grain brokerage – 78% - Chemical Sales – 22% Mission Statement – to support our farmer partners in increasing yields to feed the world Customers - 13,500 Individual Farms - 300+ Elevators Competitive edge – market leading customer service Corporate Values – “SEPT” Safety, Environment, People, Teamwork (family culture) Business Objectives • • • • • • • • • Issues • • • • • • • • • Fair trade (legislation, regulation) Global competition – especially Middle East & China Open borders Difficult economic conditions – worldwide recession, grain price fluctuations Varying customer yields Environmental pressure on farming practices Lack of resources due to turnover & financial constraints, budget cuts Pressure to attain targets Degree of change - internal, org, market 2020 Copyright IMPAX Corporation. All Rights Reserved. Increase revenues – 12% / year growth US/Mexico growth Increase profitability - gross margin up 2% from approx. 17% last year) Improve return to shareholders - 13% ROCE Improve customer satisfaction/ retention 96% satisfaction target on annual “CSAT” survey Strong environmental stewardship “Lead the Industry, Delight the Stakeholders” Operational efficiency, vendor management - Reduce supplier base 30+% Community involvement Employer of choice Strategies • Investment in IT - complete ERP installation E-O-Y, vendor management system Re-organization • • Right people, development, retention (reduce T.O. to 7%) Metrics and accountability standards, P&L Identify best practices - • • • • • • operational, environmental, customer service Brand development – Co-opmarketing, increase ad spending Increase R&D spending Improve distribution network – J-I-T Alliance with CNE Reduce SG&A 6% - cost control 21 A Business Presentation To Grainco Presentation Objectives ▪ Confirm our understanding of Grainco’s business direction ▪ Establish Chem Corp. as a strategic resource ▪ Identify opportunities for an expanded relationship Presented By: Chem Corp Grainco – A Profile Agenda ▪ Grainco - A profile Business objectives Strategies Business issues ▪ Chem Corp. – A Credible Partner ▪ The Grainco/Chem Corp. Business Fit ▪ Action Steps/Timetable Grainco – Business Objectives ▪ Heritage ▪ Market presence ▪ Services ▪ Customer base ▪ Competitive advantage – service ▪ Mission statement ▪ SEPT values Grainco - Strategies ▪ Revenue growth ▪ Investment in IT ▪ Profitability ▪ Re-organization ▪ Return to shareholders ▪ Cost control ▪ Operational efficiency ▪ Brand development ▪ Customer satisfaction ▪ Distribution network ▪ Environmental stewardship ▪ Best practices 2020 Copyright IMPAX Corporation. All Rights Reserved. 22 Grainco – Business Issues Chem Corp. – A Credible Partner ▪ Economic conditions ▪ Market driven, customer focused ▪ Fair trade ▪ Broad base of resources ▪ Global competition - Hard and soft technologies, support ▪ Customer yields ▪ Product leadership ▪ Environmental pressure ▪ Commitment to the industry ▪ Resources ▪ Global presence ▪ Degree of change ▪ Quality, safety, environment The Grainco/Chem Corp. Business Fit ▪ Builds on a strong foundation ▪ Based on a set of common values - Safety - Environment ▪ Drives critical priority – profitability ▪ Supports focus on key initiatives - Customer satisfaction - Distribution network 2020 Copyright IMPAX Corporation. All Rights Reserved. Action Steps/Timetable ▪ Confirm mutual commitment to the business fit ▪ Establish best practices task force ▪ Pursue additional opportunities - Safety - Environmental - Training ▪ Conduct progress review meeting 23 2020 Copyright IMPAX Corporation. All Rights Reserved. 24 2020 Copyright IMPAX Corporation. All Rights Reserved. 25 2020 Copyright IMPAX Corporation. All Rights Reserved. 26 2020 Copyright IMPAX Corporation. All Rights Reserved. 27 2020 Copyright IMPAX Corporation. All Rights Reserved. 28 2020 Copyright IMPAX Corporation. All Rights Reserved. 29 2020 Copyright IMPAX Corporation. All Rights Reserved. 30 2020 Copyright IMPAX Corporation. All Rights Reserved. 31 2020 Copyright IMPAX Corporation. 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This might include: - Data - Research information - Sample presentations and templates Organize your data and research notes in these groups: - Corporate profile/direction, e.g., profile, objectives, strategies, issues - Customer departmental profile, objectives, strategies, issues - Solution and business fit Highlight everything about the account that’s most relevant and significant to describing the target account’s business. • Categorize each highlighted item according to the agenda page headings. • Determine your presentation goal. Start with the end in mind. • Develop specific action steps and set a date for completion, including scheduling the next meeting. • Convert the highlighted and categorized information into crisp, concise phrases. • Describe the key points of the customer’s business. Begin with the broadest issues and move to specific departmental profile/direction issues that your company can address. • Keep presentation succinct: - 4-8 bullets per page - 2-6 words per bullet - 0-5 indents under each bullet • Create an entire story in logical order for each slide. • Prepare to elaborate and support each bullet presented. Annotate the background information and thought behind each bullet in preparation for the presentation rehearsal. • Use consistent verb tense on every slide. • Provide a pertinent overview of your company. Then describe your offering and how it fills the gap (if applicable). • Describe the business fit specific to the customer and in the customer’s terminology. 2020 Copyright IMPAX Corporation. All Rights Reserved. 46 After you decide what topics you want to address in your presentation, you are ready to create your draft. Remember: • Develop a fresh presentation for each customer. Do not piece together other decks. • Every page should tell a story that has a logical order. • Be prepared to elaborate and support each bullet presented. The depth and quality of your presentation comes from the quality of your research. • No draft is the final version. You might revise it with input from your coach. It is often beneficial that your coach sees your draft and recommends revisions to it. Ask peers and your manager for comments as well. • Your goal is to differentiate your company from your competitors and give the decision maker the incentive to buy from you. • The foremost question when you begin drafting the presentation is: “When the meeting is over, what action do I want the decision maker to take?” 2020 Copyright IMPAX Corporation. All Rights Reserved. 47 Here are some indefinite words and phrases that you can use to position your confirmation statement. • About • A few • Approximately • Maybe • It seems • Perhaps • It’s my understanding that ... • One perception that I have is that ... • If I’m not mistaken ... • One observation we’ve made is that ... • Isn’t it so that ... • We sense that ... • I sense that these are some of your objectives... • These might be some of the projects that ... 2020 Copyright IMPAX Corporation. All Rights Reserved. 48 The language you use for your presentation should enhance the strength of the content. It’s especially critical in developing the business partner’s objectives and strategies, the business fit and action step pages. Every statement in the business fit and action plan should start with an action verb. Here is a list of strong, effective verbs: • Accelerate • Affect • Build • Capitalize • Demonstrate • Drive • Elevate • Employ • Encourage • Enhance • Facilitate • Focus • Generate • Implement • Incorporate • Increase • Leverage • Maintain • Penetrate • Strengthen 2020 Copyright IMPAX Corporation. All Rights Reserved. 49 1. Started strong Jump into role & take charge of the presentation, as you would with a customer. • Show appreciation for the time • “I have been doing my research & appreciate the opportunity to make this business presentation” • Confirm the time available • “I won’t be presenting the whole time. Instead, I will make a brief presentation, then join you in a roundtable discussion.” • Keep the objectives & agenda crisp & concise • Paraphrase the bullets; do not read the pages 2. Demonstrated a good understanding of the customer Have at least one supporting comment for each of the bullets in the customer section. 3. Humble delivery on Confirm what you have learned; don’t tell them about their business. “them” (used wiggle • Use indefinite phrases: “it seems; perhaps; maybe, a few; some; words; no opinions; didn’t possibly, as I learned in my research…” mix “them” & “us”) • Consider word choice variety (do not over-use the same word(s)) • There are different ways to convey a humble tone – word choice, volume, gestures, pace… • Avoid words that are never humble: “obviously, definitely, of course…” • Keep this section purely about the customer’s business (do not mix in anything about your company) • Do not give your opinion on the customer’s business 4. Two-part transition First part: • “Do I have a fair understanding of your business?” Second part: • “Thank you for confirming my understanding. This is important because the rest of the presentation is based on this understanding.” 5. Effectively presented “us” in a confident tone Your tone needs to change from humble to confident. • Adjust volume, tone, body language & word choice This section should be crafted with the customer or prospect in mind. • Don’t just read the bullets; this section needs to make a strong impact When talking about your company, don’t make reference to the customer. • Don’t mix “them” and “us” until the business fit 2020 Copyright IMPAX Corporation. All Rights Reserved. 50 6. Smooth transitions Good transitions tie different slides (& even different sections) of a presentation together. The best transitions include talking about the next page before advancing the slide. 7. Changed tones Look for the tone changes throughout the presentation: • Customer section is humble • Your company page is confident • Business fit is enthusiastic • Action is assertive 8. Went deep in the business fit The business fit is “the sale” & you must be compelling. You need depth in your supporting commentary: • Business fit statements should be supported by some specific ideas, examples and solutions that can bring the concept to life. • You should have least 2 or 3 examples of how, working together, the relationship helps the customer attain some of their objectives, implement some of their strategies and/or address some of their issues. 9. Closed well The action steps should be good, logical and reasonable steps for the decision maker to take following the presentation. They should also be appropriate to drive the desired business results in the meeting. The action steps need to be delivered assertively. Once you have reviewed each, sit down and ask the decision maker a clear, simple and open-ended closing question: • “These are our suggested action steps. How do you feel we should proceed?” 2020 Copyright IMPAX Corporation. All Rights Reserved. 51 2020 Copyright IMPAX Corporation. All Rights Reserved. 52 2020 Copyright IMPAX Corporation. All Rights Reserved. 53 2020 Copyright IMPAX Corporation. All Rights Reserved. 54 IMPAX NXTGEN™ SELLING WORKSHOP EXERCISES 2020 Copyright IMPAX Corporation. All Rights Reserved. 55 Target Account/ Opportunity Assessment Criteria Range 1. Solution fit (0 to +15) 2. Value to your company (0 to +15) 3. The competitive situation (-10 to +10) 4. Compelling reason to decide/change (0 to +10) Subtotal: Is there an opportunity? (-10 to 50) 5. Quality of information (-5 to +15) 6. Quality of coaching (0 to +20) 7. Strength of gatekeepers (-10 to 0) 8. Access and alignment with influence Oppty #1 Oppty #2 (-5 to +15) 9. Business fit (0 to +15) Subtotal: Can you win? (-20 to +65) Total (-30 to +115) 1. Solution fit: the strength of the fit between your solutions and the customer’s needs 2. Value to your company: the value to your company in establishing a business relationship with this account. 3. The competitive situation: the strength of the relationship between the account and your competition. Are you the incumbent? How strong are your competitor’s relationships/solutions/service/…? 4. Compelling reason to decide/change: the presence or absence of the customer’s need/desire to make a decision or change 5. Quality of information: the extent of data, information and insight that you have or can gather about the account 6. Quality of coaching: the opportunity for finding and leveraging individuals, or “coaches”, who want you to win and will help you (because they stand to gain in some way if you are successful) 7. Strength of gatekeepers: the presence and strength of individuals within the account who want to restrict your access to senior-level management and block your strategy 8. Access and alignment with influence: your ability to reach the decision maker, and the strength of your relationship with them and others who have influence 9. Business fit: the ability of your two companies to work together to accomplish the customer’s key business objectives, implement important strategies and/or address critical business issues 2020 Copyright IMPAX Corporation. All Rights Reserved. 56 LinkedIn Social Selling Index (SSI) Score Assessment What is your current LinkedIn SSI score? How does your score compare to the rest of your industry? Of the 4 key sections, where are you scoring highest? Of the 4 key sections, where are you scoring lowest? List key action steps to raise your LinkedIn SSI score 2020 Copyright IMPAX Corporation. All Rights Reserved. 57 Data Application Exercise List something you learned about the company from LinkedIn and/or Twitter What did you learn about your LinkedIn network at the company? (1st and 2nd degree connections) List something you learned about a coach or contact from their LinkedIn profile or Twitter feed What research questions can you ask as a result of your LinkedIn & Twitter data review? 2020 Copyright IMPAX Corporation. All Rights Reserved. 58 Research Meeting Application Exercise Coach or Contact Name Draft of Research Meeting Request Research Questions _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 2020 Copyright IMPAX Corporation. All Rights Reserved. 59 POSI Grid Company: ______________________________________________________________________________________________ Date: ______________________________________________________________________________________________ Profile Objectives (As Is) (To Be) Issues Strategies (Barriers & Challenges) (How?) 2020 Copyright IMPAX Corporation. All Rights Reserved. 60 Business Fit Worksheet The / Business Fit ● Talking Points: ● Talking Points: ● Talking Points: ● Talking Points: 2020 Copyright IMPAX Corporation. All Rights Reserved. 61 Business Fit Translation Identify the Opportunity/Challenge Determine the Current State Where are you at today? How do you measure that (unit)? What is the cost/benefit per unit? Desired Future State Where do you want to be in the future (and by when)? How many units would you make/save? Quantified Outcome 2020 Copyright IMPAX Corporation. All Rights Reserved. 62 LinkedIn Contacts & Potential Coaches Lists Name Position/Title 2020 Copyright IMPAX Corporation. All Rights Reserved. Level of Connection Commonality 63 Individual Coach Assessment Assessment Coach 1 Coach 2 What is his or her win? What is the coach’s influence on decisions? (High/medium/low) Is the coach proactive? (Yes/no) What is his or her level of credibility with the decision maker? (High/medium/low) How often do you receive coaching from this coach? When and what was the most recent coaching? (Date/content) Was the coaching on target? (Yes/no) What is this coach’s relationship with your competitors? How much time have you spent with this coach? (Too much/too little) How productive is time spent with this coach? Who owns the coach relationship? 2020 Copyright IMPAX Corporation. All Rights Reserved. 64 Overall Coach Network Assessment Assessment Coach Network How many coaches do you have? Are your coaches credible and strong? How do your coaches map to people of influence? (Strong/fair/poor) Do you have coaches in key areas of opportunity? Where? Where not? In general, how strong are the individual relationships? (Strong/fair/poor) In what key departments do you lack coaches? Do you have coaches in key areas of senior-level management? Where? Where not? Do you have multiple coaches in key areas? Where? Where not? What is your overall coach network assessment? (Strong/fair/poor) 2020 Copyright IMPAX Corporation. All Rights Reserved. 65 Access Application Exercise Answer these questions about your plan to access the decision maker: What is your access strategy? What is your fallback access strategy? 2020 Copyright IMPAX Corporation. All Rights Reserved. 66 Gatekeeper Assessment Gatekeeper Name Gatekeeper Title How Blocking? Level of Influence Risk (-) & Opportunity (+) Why Blocking? Rational (R) or Emotional (E) Strategy 2020 Copyright IMPAX Corporation. All Rights Reserved. 67 Influence Grid Influence High Low 2020 Copyright IMPAX Corporation. All Rights Reserved. Title High 68
