This month, 3R spoke to Steve, Sales Executive with a large US Software Vendor. This leading vendor wishes to remain anonymous, due to the considerable IP they have built up with their solution. Principally what they do is help companies provide a single view of their products, customers, partners, and suppliers through master data management. I have known Steve for many years, and he is without doubt one of the very best of an elite set of highly successful sales professionals.

Steve, tell me, what about this company made you want to work for them?

I did the standard due diligence and discovered that the company was occupying a growth sector, within the software market in which I wanted to work. They had an impressive client list with an extensive partner network. They had significant cash reserves and were fast acquiring companies to compliment their core strategy. The people that I met were focused and professional, and it seemed like a great company to work for from a salesman perspective.

Tell me about your customers, what problems do your solutions solve

I am focused within financial services. Within this market, our customers are preoccupied with cost optimization, while still maintaining high levels of customer service. In addition, one of their biggest challenges currently is deliver internal governance and external regulatory compliance based on their existing diverse technology platforms. All of the above initiatives are underpinned by the need to have an integrated view of relevant and consistent data.

In your customers mind, what distinguishes your company from your competition?

Our company provides a total solution to the challenges they face in integrating data that is only available from a loose partnership of our competitors at a much higher cost of ownership. Not only is our solution fully integrated, but the ease of installation by our highly competent engineers and partners, ensures a very reasonable Total Cost of Ownership.

What do those solutions enable your customers to do?

The four key business imperatives that our solutions assist our customers in fulfilling are as follows:

• Key Performance Indicator monitoring & customer management. With our suite of data integration and management tools, customers can monitor company goals, on a local and global basis, which leads to faster decision making that, can also be based on real-time data.
• Managing the complexities of compliance issues, within and across state and country boundaries. E.g. Sarbanes-Oxley & Basel II.
• Operational Risk Management. By having access to multiple views of internal and external data, appropriate risk management practices can be implemented. This is particularly relevant in today’s environment of cross border mergers and acquisitions.
• Cost reduction. By ensuring that the right data is delivered with a process at the right time our solution supports high levels of business automation. Furthermore we help customers identify which systems can be demised with business impact as well as how they should be migrated.

How do you calculate ROI on your solutions?

Our approach to successful sales is to implement, risk-free “proofs of value”, with our customers. In this manner they are easily able to compare, in a controlled and objective way, the options with and without our software. This greatly enhances their ability to build compelling business cases and for us to build senior level champions.

When you get a lead from marketing – is it well qualified – what could they do differently?

Lead generation & qualification is improving all the time and is starting to deliver the sales team a steady flow of meetings, which result in potential customers.

What piece of sales advice that you have learnt at the coal face has helped you most in your career?

Be a business man at all times.

What three things has your management done for you that have helped you the most?

• Provide me with excellent sales management tools and process
• Assist me through their personal involvement when required
• Provide me with a test bed of relevant experience that has launched my career to the next level.

Finally, this newsletter is called Success, what is your definition of success?

Achieve my personal Wealth Goal – Giving me the option to retire early and continue enjoying life.

his article was written by Peter Lawless, founder of 3R Sales and Marketing - www.3r.ie. For previous articles or interviews like this, visit 3R's Resources. Alternatively, subscribe to Success our free monthly Information Bulletin with sales and marketing articles. 

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