Effective Discovery Techniques for Presenting Value and Handling Objections
Explore the significance of effective discovery techniques in understanding customers' needs and preparing tailored presentations. Learn how to build a compelling case for implementing solutions like Cohesity at North Winds Hospital by asking insightful questions to key stakeholders. Enhance your listening, note-taking, and questioning skills to create value for your buyers.
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October 12th, 2021 PRESENTING VALUE & HANDLING OBJECTIONS
Who is NWN Carousel? 2019
Discovery **Reference the Judging Rubric! Through Discovery, you are seeking to obtain a clear understanding of the customer s situation in order to prepare a customized presentation ultimately, to Regan Smith, the Chairman of the Board. What do you need to learn along the way to build the best case possible for North Winds Hospital to implement Cohesity? What makes this a problem worth solving for ALL buyers you are speaking with? 2019
Sample Discovery Questions Information Technology (CIO): I understand that you deliver about 80% of your applications via the cloud, what drove the cloud decision? What benefits have you realized since you made this transition? How would you quantify the time being spent managing the physical tape backup that you are utilizing for your on-premises applications? How confident are you currently in your ability to recover ALL information backed up within your hybrid environment? Executive Leadership (CEO): I understand that the average industry-wide revenue per hospital bed is roughly $10,000 / hour where do you think North Winds would fall in comparison to this? Describe for me from a HIPAA perspective how North Winds ensures ongoing compliance? Walk me through what would happen in a scenario where you could not treat patients for any sustained period of time (An hour? A day?) 2019
Sample Discovery Questions (continued) Board Member (Chairman) How have you directed the organization to react to what we are all seeing in the news consistently (data breaches, ransomware attacks etc..) What do key stakeholders expect of you as Chairman of the Board? What have you done to protect the reputation of the North Winds organization? As Chairman, what keeps you up at night? 2019
Create Value Question to Question to Ask Ask What Business Problems are we addressing? What Business What Business Problems are we addressing? What Business Improvement is sought? Improvement is sought? What skills enhance this discussion What skills enhance this discussion o Excellent listening skills Excellent listening skills o Note taking Note taking o Ability to tie back with clarifying questions Ability to tie back with clarifying questions
Create Value What aren t they thinking about? What aren t they thinking about? Customer is Customer is #1 #1 Use your knowledge and resources to educate. Use your knowledge and resources to educate. o Know your business. Know your business. o Know industry trends. Know industry trends. o Use what you have learned from other deals Use what you have learned from other deals (reference the resources available to you online (reference the resources available to you online case studies!) case studies!) o Don t ignore other business problems that you Don t ignore other business problems that you have discovered. have discovered.
Create Value Question to Question to Ask Ask Who is it important to? How will the customer measure Who is it important to? How will the customer measure success? success? Ask real business questions. Ask real business questions. o Who will benefit from this solution? Who will benefit from this solution? o How will the client benefit? How will the client benefit? o What is the return on investment they need to What is the return on investment they need to move forward? How will they measure success? move forward? How will they measure success?
The Challenges that Face Us Demands from the business constantly Complexity of Technology changing End user expectations are priority Evolving Compliance Requirements Vendor and tool overload Vastness of Threats $ The need to do more with less Proactive Monitoring & Defense
Pain Points Information Technology Ensuring uninterrupted delivery of mission Ensuring uninterrupted delivery of mission- -critical applications both on premises and in the cloud both on premises and in the cloud to ALL users. Constantly evolving cybersecurity threats Constantly evolving cybersecurity threats staying step ahead of hackers. step ahead of hackers. Maintaining physical tape backups of all on Maintaining physical tape backups of all on- -premises applications critical applications to ALL users. staying at least Dan Sullivan, Dan Sullivan, CIO CIO at least one one premises applications Likely objections you will hear: Likely objections you will hear: We like the idea of our physical tape backup We like the idea of our physical tape backup don t we lose some level of control moving this to the cloud? some level of control moving this to the cloud? Given our numerous applications and sprawl of information Given our numerous applications and sprawl of information across them, this is going to cost too much. across them, this is going to cost too much. With our thin IT team as it is, I don t know how we will find With our thin IT team as it is, I don t know how we will find the time to learn this platform and manage it. the time to learn this platform and manage it. don t we lose
Pain Points Executive Leadership Healthcare organizations are one of the most attractive Healthcare organizations are one of the most attractive targets for cyberattacks given the sensitive data they targets for cyberattacks given the sensitive data they maintain. maintain. Avoiding downtime Avoiding downtime - - Ensuring all patients receive the right Ensuring all patients receive the right care, quickly care, quickly - - supported by top tier healthcare professionals supported by top tier healthcare professionals (including the applications and information they need to do (including the applications and information they need to do their jobs). their jobs). Krista O Neil, CEO Krista O Neil, CEO Likely objections you will hear: Likely objections you will hear: We haven t had an actual breach, so we must be doing something right. We haven t had an actual breach, so we must be doing something right. What would What would you you say to this? say to this? We have too many IT vendors already We have too many IT vendors already why would we work with you? I can t present this to the Board unless we can see the solution I can t present this to the Board unless we can see the solution operating and working within our environment. operating and working within our environment. why would we work with you?
Pain Points Chairman of the Board Regan Smith, Regan Smith, Chairman of Chairman of the Board the Board Reputational risk Reputational risk Reporting Financial results (positive or negative) to shareholders Reporting Financial results (positive or negative) to shareholders Avoiding attrition in Executive Leadership Avoiding attrition in Executive Leadership Objection you may hear: Objection you may hear: Ransomware is a security Ransomware is a security- -based threat; I don t see the connection to based threat; I don t see the connection to our information backup strategy. our information backup strategy.
Cohesity at Cohesity at- -a a- -glance glance Ransomware is combatted by leveraging Cohesity within a company s Data Center environment & security posture it will effectively counter ransomware attacks to avoid your company having to pay ransom (think in reference to how much money North Wind s competitor had to pay in ransom; use that as a point of reference, but also look deeper into what other costs come with being down .) Protect Backup The immutable backup snapshots, combined with DataLock (WORM), RBAC, air-gap and multi- factor authentication prevent your backup data from becoming a target o Essentially, this aspect will make it harder for cyber attackers/threats to find your data and make you a prime target. Detect Machine-driven intelligence establishes patterns and automatically detects and reports anomalies o Essentially, this means that the platform will let the user know if there s anything fishy or out of place, making it easier to see if someone is attempting to hit you with a cyber attack. Rapid Recovery Simple search and instant recovery to any point in time gets you back in business fast. Cohesity s unique instant mass restore quickly recovers hundreds of virtual machines (VMs), databases, files and objects o Essentially, this means that IF a company (North Winds) happens to get Ransomed, it will be easier to remediate, (quicker damage control to get the hospital back up and running, able to serve patients with utmost care, protect the bottom line $$$.)
Objection Handling Basics Breathe Breathe Take a moment to think through the objection Take a moment to think through the objection Silence is ok Silence is ok Don t interrupt Don t interrupt Don t frantically answer Don t frantically answer Don t argue Don t argue Pause Pause
Objection Handling Basics Keep calm Keep calm Keep a steady pace Keep a steady pace Watch tone of voice Watch tone of voice Breathe Breathe Don t Stress Don t Stress
Objection Handling Basics Listen Listen Listen Listen Listen Listen Take notes as you listen Take notes as you listen Refer back Refer back Listen and Listen and Talk Less Talk Less
Objection Handling Basics Clarify and ask questions from what you have heard Clarify and ask questions from what you have heard ( to make sure I am fully understanding and addressing your make sure I am fully understanding and addressing your concern ) concern ) Whiteboarding exercise Whiteboarding exercise Refer back to your notes Refer back to your notes ( to Clarify Clarify
Objection Handling Basics Alternate between speakers Alternate between speakers Swap talking points Swap talking points Broaden discussion Broaden discussion Bring an Bring an expert expert
Objection Handling Basics Have use cases ready Have use cases ready (reference those resource materials! (reference those resource materials! What other financial services firms have utilized What other financial services firms have utilized Webex Share past experiences and stories Share past experiences and stories Bring use Bring use cases cases Webex?) ?)
Objection Handling Basics Use professional language (please, thank you, etc.) Use professional language (please, thank you, etc.) Use the client s name Use the client s name Professional Professional Language Language
Objection Handling Basics Enjoy the conversation Enjoy the conversation Embrace other ideas and points of view Embrace other ideas and points of view Try to understand their position Try to understand their position Embrace Embrace Objections Objections
Objection Handling Basics Who else are they considering? Who else are they considering? Who else? Who else?
Objection Handling Basics Price comes Price comes last last Price comes last Price comes last
