Customer Reviews

Major Account Sales Strategy

5 star:		(13)
4 star:		(1)
3 star:		(2)
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1 star:		(0)

 

 

Unlike most developers of major account sales strategy, Neil Rackham methodically backs up his analysis of the buyer circle with in-depth research. To develop his major account sales strategy, Rackham has observed and analyzed a large number of high dollar value sales made around the world. Rackham convincingly shows that effective selling strategy is built on a thorough understanding of customers and the concerns they can have at each phase of a sale. Mastering that strategy, of course, requires, a lot of hard work and practice from salespersons determined to make the difference at the end of the day. Rackham successively reviews these phases that he has identified as: account entry strategy, recognition of needs, evaluation of options, resolution of concerns, sales negotiation, as well as implementation and account development.

1. In analyzing "Account Entry Strategy", Rackham successively explores the focus of receptivity, the focus of dissatisfaction, and the focus of power as well as the pitfalls associated with them. Because coaching, in our culture, has a positive connotation, few professionals will turn down the chance to demonstrate to a fellow professional their expertise and the usefulness of their connections. For that reason, successful salespeople identify, nurture, and leverage their sponsor(s) to ultimately get access to the different buying influences. Because of possible shifts in the account on the buyer side, Rackham rightly recommends that no salesperson rely on only one individual to penetrate an account. Rackham also reminds his audience about the critical importance of uncovering implied needs to turn them into expressed needs. Successful salespeople make their contact(s) at the level of dissatisfaction aware of the urgency and severity of the problem(s) to be addressed so that these contact(s) eventually feel obliged to help them get access to the leverages of power.

2. In looking at "Recognition of Needs" and "Evaluation of Options", Rackham first briefly explores his SPIN questioning strategy that is explained in a luxury of details in his other book "SPIN Selling." Basically, successful salespeople usually first ask the buyer situation questions, secondly problem questions, thirdly implication questions, and finally need-payoff questions to uncover implied needs for turning them into expressed needs that require action. Rackham also reminds his audience that successful salespeople prepare their sponsor(s) to help these sponsor(s) sell the sellers' solution in their own words if they are denied access to the focus of power. Furthermore, successful salespeople not only help the buyer identify needs but also influence him/her in the definition of the differentiation factors and their perceived importance to sort out the different options being offered to him/her. Rackham urges his audience to keep a broad definition of competition in mind. Finally, Rackham explores the three strategies that can help salespeople overcome their vulnerabilities and the dangers associated with these strategies: 1. Change the decision criteria (overtaking, trading-off, redefining, or creating alternative solutions), 2. Increase their strength through correction of misunderstanding or negotiation, and 3. Diminish the competition directly or indirectly.

3. In examining "Resolution of Concerns", Rackham reviews the hidden and expressed concerns that can push buyers to get "cold feet" in the decision-making process leading to an eventual purchase order down the road. As Rackham pertinently observes, price is often a convenient excuse that the buyer uses to hide his/her other, real concerns from the salesperson. Successful salespeople need to leverage their relationship with the buyer for uncovering the eventual areas of concerns, clarifying these concerns, and helping the buyer resolve them. Finally, Rackham warns salespeople about the three deadly sins of handling concerns: 1. Minimizing 2. Prescribing and 3. Pressuring.

4. In investigating "Sales Negotiation", Rackham first reminds his audience about the importance of making a clear difference between selling that tends to focus on buyers' perception of problems and negotiating that tends to concentrate on the cost of the solution. Addressing concerns about the solution with discounts will only weaken the position of the salesperson when the time of negotiation comes. As mentioned above, price is often used as a smokescreen. Rackham then reminds his audience that the only things successful salespersons negotiate during the Recognition of Needs or the Evaluation of Options phases of the sale are the needs or requirements of the buyer that they cannot meet in order to minimize the probability that they are out of the sale. Rackham finally observes that successful negotiators focus on areas of maximum leverage instead of over-concentration on price reduction, establish and narrow ranges, plan and use questions, separate understanding from agreement, and rigorously test for misunderstanding.

5. In dissecting "Implementation and Account Development", Rackham rightly reminds his audience that successful salespeople do not rest on their laurels after getting the order. They are deeply involved in the implementation of the solution adopted to increase the probability that the buyer successfully overcomes the motivation dip reflecting his/her evolving enthusiasm about that solution over time. Furthermore, Rackham pertinently stresses the importance of account development instead of account maintenance. Finally, Rackham also observes that successful salespeople document their successes, generate leads and references, reassess their understanding of customer needs, and influence future decision criteria.

Rackham wraps up his analysis of major account sales strategy with a case study built on his research to put the concepts mentioned above into practice for the benefit of his audience.

As a side note, a good strategic complement to the "Major Account Sales Strategy" is "The New Strategic Selling" by Stephen E. Heiman, Diane Sanchez, and Tad Tuleja. Like the former, the latter focuses on the strategy towards high dollar value sales.

When told by my boss that I should read the book, I initially resisted. I bought it before the days of Amazon.com - it took about a month for the bookstore to order it and get it in stock. Then I went to the store and picked it up. Once I opened it up, I found it facinating. I read it in 2 days and still tell others involved in selling what a terrific book it is. Neil Rackham doesn't preach about what a genius in the art of selling he is. Instead he takes you on an interesting tour of some of his consulting work with field sales people. He describes what works and what doesn't, contradicting some "conventional wisdom" along the way. If you're involved in major account sales, read it. I think you'll be glad you did. [ Phil Pickman - The Comdyn Group ]

What are the focus of receptivity, the focus of dissatisfaction, and the focus of power? If you don't know, a set of nasty surprises awaits you as a sales person. As you seek entry into accounts to which you are expected to sell, you will find it's a cold, cold world out there, more than ever. Entering a new account and successfully turning it around can take forever--or a shorter time if you work smarter, not harder.

Neil Rackham's book deals head-on with the issues of breaking into and selling to accounts that are "negative"--that is to say, buying from your competitor. But you can find the chinks to work your way in and find mutual benefits. Chances are, there is dissatisfaction in some area--with a competitor, with a technology, with a situation. The knowledgeable sales person can find the dissatisfied parties and influence them to take action. The result--sales for you and an improved situation for them.

I found the book particularly good at identifying stages of the sale, in ways different from the traditional Xerox-style selling. For example, the stages are broken down into an implementation-resolution cycle, where, after needs are recognized, option are evaluated, concerns are met (objections, in old-speak) and finally a decision is made. You, as the salesperson, are shepherding the process with the decision makers and influencers through this cycle. So it pays to know where you are sitting in each stage of the cycle in order to present the right information to your client.

This book is not hard to understand, and is well-organized. If ound it interesting and valuable reading, and think it belongs on any the major account manager's bookshelf.

This book is in my top 5 all time best written sales books ever. Neils approach is unique, it stands the test of time. He talks about the buyers cycle as it relates to the sellers process. They need to be in alignment...if not, you will not get the sale. This book is a must read for anyone selling. A good compliment to SPIN and really any value based selling methodology including ROI Selling.

An excellent book. It is a very useful guide for all people involved with major sales (managing or selling). Unlike many books regarding sales it can help improvement in the following areas : 1. Organise concepts regarding sales 2. Avoid Critical mistakes 3. Adapt pattern of bahavior to a most positive one (with regards to major sales) 4. Better understand buyers 5. Understand the difference between major - small value sales. I strongly recommend it.

I've got to say, I've never given five stars before, but this book is superb.
You see it's not your usual hyped up adrenaline filled war story manual, this book is designed to help you and your team create a strategy (underused word in sales right?) to develop more business.

Now in all honesty I've only used these tools in one business so I'm hardly an old hand with Rackham's methods, but the results were amazing, and I have to say very consistent. It's great to have a defined strategy when it comes to financial projections and this book provided that piece of mind.

As a sales person it transformed my view on the high level sales process. I felt like I was working with the client rather than against them. Creating a solution and not just hoping for the best.
My favourite part however was the entry strategy. If you want to create more prospects in an incredibly strategic way, read the first half of this book and then the case studies at the end.
Sorry if this review is a little 'too good' I wanted to find something wrong with it, but other than the fact that these tools are useless in the low level sale, there is nothing. But don't take my word for it, this book helped me make lots of sales so I'm biased.

Others have said it well - I just wanted to add that this book (after using it for a year) really takes SPIN into the complex selling cycle world successfully. Required reading for all my current clients ! Chapter 6 is especially useful in my experience.

Joe Hendricks

I read SPIN Selling and became a fan.

Then I bought this. Its so-so. The author did not really have material enough for a complete book so he borrows from SPIN Selling (which is to be expected, I guess), but he repeats himself too much.

There is a point that is made, then some anecdotes, some common sense, then the point is repeated, almost word by word, and at the end of the chapter the summary covers the point again.

A little disappointing actually. Maybe 3 stars is too much.

In it's day this would rate six stars out of five, but it's been superseded by "Selling is Dead" authored by Marc Miller and Jason Sinkovitz. In fact, the authors are students of Mr. Rackham and give him ample credit for the ground breaking work of "Major Account Sales Strategy."

If the title of the book suggests you something you are looking for, don't hesitate and buy it. It is excellent. It displays a completely actionable model of the selling -or buying- cycle. It describes the phases of the cycle and it gives the strategic principles to follow in each one of them. Mr. Rackham is a true expert in this field.