Effective Proof of Concepts with Keno Helmi

24 snips

Oct 5, 2023

Keno Helmi, a five-time CRO with extensive experience in the technology industry, discusses the importance of proof of value (POV) in the sales process. He highlights the need for clear success criteria and involving the economic buyer (EB) to improve forecasting. Keno shares best practices for running a successful POV, including thorough qualification, defining objectives, and debriefing with the champion. He emphasizes the importance of presenting a comprehensive report to the EB after the POV.

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ADVICE

Negotiate POV Terms Before It Starts

Do set success criteria and control POV circumstances to drive predictability and forecasting accuracy.
Aim for a high conversion rate by negotiating terms before the POV starts.

INSIGHT

Two Fundamental Sales Motions

There are two sales motions: getting customers to see a problem (A) and competing where they're already in-market (B).
In motion A you can predicate a POV on buying you; in B you can only insist they'll buy someone.

ADVICE

Get The Economic Buyer On Board

Meet the economic buyer to secure authority, budget, and a commitment to buy within a timeframe.
Use the EB meeting to speak their language: ROI for CFOs, shareholder value for CEOs.

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Keno Helmi is a five-time CRO with a wealth of experience in the technology industry. He has held leadership positions at companies such as PTC, HP, Digby, Duetto, Platform 9, and Pegasus. Currently, he serves as the CRO at Espressive.

Keno discusses the importance of proof of value (POV) in the sales process. He explains that a POV is not just about validating the technology, but also about validating the business case. By setting clear success criteria and involving the economic buyer (EB) in the process, sales reps can increase the predictability of the outcome and improve their forecasting. Keno emphasizes the need for a champion to take the rep to the EB and highlights the importance of thorough qualification before engaging in a POV. He also shares best practices for running a successful POV, including defining objectives, setting clear success metrics, and involving the sales rep throughout the process. Keno concludes by discussing the importance of debriefing with the champion and presenting a comprehensive report or presentation to the EB after the POV.

HERE ARE SOME KEY SECTIONS TO CHECK OUT

[00:00:00] POC vs. POV: POC validates technology; POV validates both tech and business value.
[00:05:19] Meeting the Economic Buyer is critical for authority and budget.
[00:11:50] Don't do POCs too early; understand the customer's use case.
[00:14:11] Champions expedite sales by taking you to the Economic Buyer.
[00:18:17] POC should lead to a natural close, not put the customer in the market.
[00:25:11] The go, no-go meeting with the Economic Buyer is decisive.
[00:38:33] Share a comprehensive RFP or scoring template to guide the evaluation.
[00:41:45] Leverage serendipitous visits from stakeholders to build additional champions.
[00:43:29] Proactively bring in potential champions who may not be aware of the POV.
[00:46:13] Actively engage during the POV, troubleshoot discreetly, and showcase successes.
[00:48:16] Create a comprehensive report or presentation (Champion's Deck) summarizing technical and financial results.

HIGHLIGHT QUOTES

[00:10:28] "You want to do a P.O.V. to increase the predictability of the outcome, improve your forecasting, and potentially grow the business value of the deal."
[00:13:25] "That person has earned the right to be called a champion and not a prospective champion. You do not have the right to call that person a champion until that person takes you to the economic buyer."
[00:15:11] "You want to ensure that your test plan is going to be the scoring mechanism by which all vendors are evaluated."

ADDITIONAL RESOURCES
Connect with Keno: https://www.linkedin.com/in/keno-helmi-74779329/
More on Espressive: https://www.espressive.com/
Engineer Your Strongest SKO Yet: https://forc.mx/46BipZB

Hosted by five-time CRO John McMahon and Force Management Co-Founder John Kaplan, the Revenue Builders podcast goes behind the scenes with the sales leaders who have been there, done that, and seen the results.

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