Opportunity Management

More Opportunity Management Tips from Armin

In Opportunity Management, it is important to completely understand the background of the opportunity. One important question you have to answer is which key numbers/reference numbers (Key Performance Indicators / KPIs) are used by your customer’s management.

In Opportunity Management, it is important to completely understand the background of the opportunity. One important point is to ascertain your customer’s financial development. Therefore, you should know how the numbers look comparatively and as a trend.

In Opportunity Management, it is important to completely understand the background of the opportunity. One important point is to ascertain your customer’s financial strength. Therefore, you should analyse the customer's actual financial position.

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, you must know who your customer’s major competitors are?

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question is: What affiliates could influence or dominate the customer’s decision?

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question is: What is the phase of the business life-cycle in which the customer currently is?

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question is: With which visible trends should the customer be concerned?

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question is: Are we aware of the most significant developments over the past two years?

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question is: Which solution is the customer offering, and to whom?

In Opportunity Management, you must understand if you can win the opportunity. You must therefore know wow does the problem manifests itself in your customer’s organisation? What are the causes? Who is affected?

In Opportunity Management, you must understand if you can win the opportunity. You must therefore know how the problem to be solved is perceived within your customer’s organization. Is it acute or latent? Early stage or close to purchase?

In Opportunity Management, you must understand if you can win the opportunity. You must therefore know what has been decided in similar projects in the past.

In Opportunity Management, you must understand if you can win the opportunity. You must therefore know if the planned solution a special focus that you might or might not be able to address.

In Opportunity Management, you must understand if you can win the opportunity. You must therefore have an idea of how strongly your competition’s top management will he support the opportunity.

In Opportunity Management, you must understand if you can win the opportunity. You must therefore have an idea of how important this opportunity is to your competition.

In Opportunity Management, you must understand if you can win the opportunity. You must therefore have an idea of your competition’s partners and alliances.

In Opportunity Management, you must understand if you can win the opportunity. You must therefore have an idea of your competition’s strategies and tactics. How do they normally address an opportunity of this kind?

In Opportunity Management, you must understand if you can win the opportunity. You must therefore have or develop a clear differentiation, a position, and a value proposition.

In Opportunity Management, you must understand if you can win the opportunity. One important thing is to know your ability to deliver.

In Opportunity Management, you must understand if you can win the opportunity. One important thing is to know how far your competitor was involved in the tender.

In Opportunity Management, you must understand if you can win the opportunity. One important thing is to know how strongly did your competitor influenced the customer’s decision criteria.

In Opportunity Management, you must understand if you can win the opportunity. One important thing is to know in which phase of the project your competitor started.

In Opportunity Management, you must understand if you can win the opportunity. One important thing is the thorough analysis of your competitors’ connection with and influence on the key persons at your customer’s.

In Opportunity Management, you must understand if you can win the opportunity. One important thing is the thorough analysis of your competitors’ strengths and weaknesses.

In Opportunity Management, you must understand if you can compete. Hence, you must understand the strengths and weaknesses of your product or service. But this is not everything. Ask yourself: What strengths and weaknesses do we have as a company, in terms of processes and people. Based on your conclusions, you can decide if you want to follow the opportunity any further.

In Opportunity Management, you must understand if you can compete. Hence, your solution fit is of utmost importance. You must check if you have references to be accepted by the client.

In Opportunity Management, you must understand if you can compete. Therefore, you must check how important are the strengths and weaknesses of your solution are from the customer’s point of view.

In Opportunity Management, you must understand if you can compete. Therefore, you must check which parameters of your solution the client likes especially and which they don’t.

In Opportunity Management, you must understand if you can compete. Therefore, you must check how well your solution fits to the requirements and the environment of the company.

In Opportunity Management, you must understand if you can compete. Therefore, you must check if your solution solves your customer’s problem. If not, either change it or pull out.

In Opportunity Management, you must understand if you can compete. Therefore, your expected price must meet the client’s expectations. If this is not the case, ask yourself, if you are maybe able to enlarge the client's budget by better communication of the value you bring.

In Opportunity Management, you must understand if you can compete. Therefore, you must find out how well your price meets the price expectation / the budget of the client.

In Opportunity Management, you must understand if you can compete. Therefore, you must find out how much the client is willing to spend.

In Opportunity Management, you must understand if you really have an opportunity. It is important that the client has a compelling reason to buy. If you can’t identify any, ask yourself how you can emphasize or create one.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that there might be personal consequences for the management in case of a delay.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that there are negative strategic or economic consequences if the project is delayed.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that you know when the customer will have to take a decision at the latest.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that you know why is the customer is forced to make a decision.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that the problem that the client has will have critical consequences, if not solved.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that the client has a compelling reason to buy. Therefore ask the client “What happens, if you do nothing, if you don’t do this project?”

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that the demands in regards to the project have been defined .

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that the project responsibilities have already assigned by your client.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that a timeline and project plan have been defined and communicated for the client’s project?

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that a decision-maker is willing to speak with you. Ideally, the highest ranked. Always call high!

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that the budget for the project has been approved and that ideally you know the amount?

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that your client already has clear project requirements.

In Opportunity Management, you must understand if you really have an opportunity. One important criterion is that a formal project been adopted by your client.

In Opportunity Management, you’d want to have various phases with toll gates in-between. To move the opportunity to the next phase, ask your client for a commitment in written form. Unless he gives you this commitment, there’ll be no further action. That’s what I call “continuous qualifying “.

In Opportunity Management it’s important to understand the background of the opportunity. One important detail you must understand is if there be a budget allocated for the customer’s project or if it will it be decided upon spontaneously. This allows you to adapt your solution accordingly.

In Opportunity Management it’s important to understand the background of the opportunity. If you know what the key figures used by the management of the client are, you can pitch the presentation of your solution or service accordingly.

In Opportunity Management it’s important to understand the background of the opportunity. If you know what the most urgent problem of the client is, you can pitch the presentation of your solution or service accordingly.

In Opportunity Management, it is important to fully understand the background to the opportunity. Especially the financial situation of your customer’s business. Therefore, an important question you need to answer is the following: "What is the financial strength of the company in terms of cash flow and profit?"

In Opportunity Management, it is important to fully understand the background to the opportunity. Especially the forces that are driving your customer’s business. Therefore, an important question you need to answer is the following: "Which internal and external strain is at the bottom of the customer’s planned project?”

In Opportunity Management, it is important to fully understand the background to the opportunity. Especially the forces that are driving your customer’s business. Therefore, an important question you need to answer is the following: "What are the strategic fields of action?”

In Opportunity Management, it is important to fully understand the background to the opportunity. Especially the forces that are driving your customer’s business. Therefore, an important question you need to answer is the following: "What is the client’s strategy to achieve his strategic targets?”

In Opportunity Management, it is important to fully understand the background to the opportunity. Especially the forces that are driving your customer’s business. Therefore, an important question you need to answer is the following: "What are the strategic targets of the client?”

In Opportunity Management, it is important to fully understand the background to the opportunity. Therefore, an important question you need to answer is the following: "With whom of our partners is the company you’re talking to allied?”

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question you’ll have to answer, is: “With which evident trends does the company have to deal?”

In Opportunity Management, it is important to completely understand the background of the opportunity. Therefore, one important question you’ll have to answer, is: “What solutions does your client offer to whom?"

Every opportunity for you starts with a project idea at the customer’s. Try to shape this idea with your customer so that it will be your opportunity.

If you want to know how competitive you are on an opportunity, the solution-problem fit is of the essence. Ask yourself “Do we meet the customer’s need? Do we solve the problem?” In B2B sales, there is nothing worse than a solution searching for a problem.

It is not important where you as an Account Manager see your company’s strengths. The real question is: How real and important are these strengths and weaknesses from the customer’s point of view?

If you want to understand the real purpose of your client's planned project, you have to know who has initiated the project? Who is the project owner? Ask him for his objective, the principles, assumptions, and constraints of the project. Address all of these in your proposal.

Always understand what your client’s key market drivers are. What are the dynamics to which they have to find answers? Refer to them in your proposal and explain how you will help.

On every opportunity, set a target close date to which you can aspire. That will increase the probability of closing the deal earlier.

Your customers always have problems and ideas. All you have to do is find the right time and the right access. Stay on the ball.

Qualifying sales leads is maybe the most important skill of an Account Manager in order to reach the year end revenue target.

Many Account Managers enter the B2B sales cycle too late, ie when the tender has been issued. Be more present. Speak with your customer during the idea inception phase. That’s where you can make the difference.

The three most important questions regarding an opportunity in B2B sales are: how much? how soon?, how sure?

For every opportunity on which you are working, you have to understand its background: what does the client intend to do? When? Why? What are his targets?

In Opportunity Management, you must understand the client profile: How strong is the client’s current competitive position? With which evident trends does the client have to deal right? Your role is to offer solutions for these.

The four central questions of Lead Qualification are: Is it an opportunity? Can we compete? Can we win? Do we want to win?

A sales opportunity in B2B only exists if a formal project has been adopted. Check this first before you’re riding a dead horse.

Your client will only decide to buy if there is a compelling reason to do it. Ask yourself, what would happen if the client didn’t do anything to ascertain if a compelling reason to buy exists.

In B2B sales you can only compete if your solution fits the requirements of the client. Otherwise, you will have to pick a niche problem you can solve or partner with the competition.

In B2B sales and Account Management, go for a problem-centric approach that underpins the value you are delivering. With that in mind, the client will rarely discuss price or compare your company with the competition.