The Mutual Success Plan - A path to growth and profit

As commented earlier in this article , a clear and mastered sales execution is a paththway to success.

There is one tools that helps sales teams to put in music at their level a great sales execution: The Mutal Success Plan ! And I LOVE MSPs ,-)

A Mutual Success Plan (or MSP) is a strategic agreement between a seller and a customer in a business-to-business (B2B) context that drives a decision making process for acquiring a solution. It outlines shared goals, objectives, strategies, and actions to ensure both parties work collaboratively to reach timely to a dicision. MSPs are designed to align over a given timeline, the interests of the seller and the customer, foster a partnership mindset, and provide a roadmap for achieving specific outcomes. MSPs enhance communication, strengthen relationships, and help both parties work towards common goals for a mutual benefit. MSP is the common language created to allign the buying and selling journey.

Here are a few key elements of an MSP:

• Collaborative Approach: The term "mutual" emphasizes that the plan is developed collaboratively between the seller and the customer. This encourages transparency, open communication, and a sense of partnership. This is a MUST. Without mutuality staright from the very begining of the relationship, it is highly probable that execution will be poor or at high risk.
• Shared Objectives: The plan outlines the goals and objectives that both parties aim to achieve through their partnership. It creates the necessary transparency that drives honest and efficient business relationships.
• Strategies and Actions: The plan includes the strategies, actions, and steps that both the seller and the customer will take to accomplish the defined objectives. It breaks down the high-level goals into actionable tasks. This ensures a full commitment of both parties to the potential outcome.
• Timeline: A timeline or schedule must be included to provide a clear roadmap for when each action or milestone expected to be achieved. This helps in creating the needed dynamics and tension for tracking progress and holding both parties accountable.
• Measurement and Metrics: The plan outlines the key performance indicators (KPIs) and metrics that will be used to measure the success of the partnership. This should be kept simple and efficient in order to avoid waste of time or blured lines.
• Roles and Responsibilities: The plan clarifies the roles and responsibilities of each party. It defines who is responsible for which tasks and how the collaboration will work. This is very important because often the buyer will rely upon the vendor. Nevertheless, the vendor expects as well the buyer to comply and follow the plan as resources and time are engaged to satisfy its research.
• Review and Updates: The plan is a living document that should be regularly reviewed and updated to reflect changes in the business environment, goals, or strategies.

The main purpose of a Mutual Success Plan is to align both the seller and the customer around a shared vision of when a decision will be made and provide a structured framework for achieving that decision timely. It helps in building stronger customer relationships, enhancing communication, and increasing the likelihood of achieving the desired outcomes.

But some sales representatives have difficulties in systematicaly apply the MSP. And I have seen quite a few :-)

Why is this so? There are various reasons. Her a few findings:

• Lack of Understanding: If sales representatives don't fully understand the concept and benefits of Mutual Success Plans, they might struggle to effectively communicate their value to customers and internal stakeholders. It is our responsibility as managers to make sure they fully undrestand how it works, what it means and how to properly share the pedagogy of the MSP to their prospects.
• Complexity: Developing a comprehensive MSP can be complex, especially in cases where the sales process involves multiple decision-makers, departments, or stakeholders. Sales representatives might find it challenging to navigate these complexities and gather the necessary information. They might as well fear to ask their prospect very simple business commitments. It is always better to have happy ears and shy away from engaging in tough or courageous conversations!
• Time Constraints: Sales representatives often have demanding schedules and numerous tasks to manage simultaneously. Creating a well-thought-out MSP requires time and effort, which they might perceive as a distraction from their core selling activities. This is why as managers we have to remove this task from them and standardize the MSP. To make it simple, collective, comprhensive and executable.
• Resistance from Customers: Some customers might be skeptical or hesitant about the concept of Mutual Success Plans. They might view them as unnecessary or intrusive, and sales representatives might encounter resistance when trying to introduce them. As said above, it is essential to trust the good of the MSP and to have the adequate pedagogy with the customer in order to make it accepted. Having courageous conversations around the good for all of the MSP is a MUST.
• Lack of Training: If sales representatives are not adequately trained on how to present MSPs, they might lack the confidence and skills needed to effectively implement them. It is our responsibilities collectively as sales organisations to understand MSPs, talk around them, ask questions around them and train each other on how to use them.
• Unclear Value Proposition: Sales representatives need to clearly communicate the value of the MSP to customers. If they struggle to articulate how the plan will benefit the customer and lead to better outcomes, customers may not see the value in participating.
• Organizational Support: If the company's leadership and management do not prioritize the use of MSPs, sales representatives might not receive the necessary support, resources, or incentives to implement them effectively. I have seen teams and organisations failing in building the support around the MSPs. Results were immediate -> Poor execution, missalignement, lack of growth, impact on profits...
• Resistance within the Sales Team: There might be resistance or lack of buy-in from other members of the sales team, which can make it challenging for a single representative to implement MSPs consistently. In taht sense trainings and communication is key and is a never ending process.
• Inadequate Tools and Technology: Without the right tools and technology to assist in creating, tracking, and managing MSPs, sales representatives may find it more difficult to execute the plans efficiently. A good CRM with the right fields to triangulate and cross check progression, in cadence, to identify red flags and strengths is essential.
• Fear of Commitment: Mutual Success Plans often require a commitment from both the sales representative and the customer to work together towards common goals. Some sales representatives might fear that such commitments could lead to increased expectations and pressure. The management should always work in mitigating that fear and make sales representatives undrestand that they will be stronger by applying it.
• Inconsistent Processes: As said earlier, if there is no standardized process for developing and implementing MSPs within the sales organization, representatives might struggle to establish a consistent approach.

To address these challenges, companies should provide comprehensive training on the concept and benefits of MSPs, offer tools and resources to streamline the creation process, emphasize the importance of these plans within the sales process, and create a supportive organizational culture that encourages their adoption. Additionally, ensuring that the process is simple and straightforward can also help sales representatives overcome any resistance or hesitations.

In that extend, to ensure the successful adoption and effective use of Mutual Success Plans (MSPs) within a sales organization, sales management teams can take several strategic steps:

-> Education and Training: Provide comprehensive training to the sales team about the concept, benefits, and value of MSPs. Explain how MSPs align with the company's overall sales strategy, sales methodology and customer-centric approach. Offer practical guidance on creating, presenting, and using MSPs in customer interactions.

-> Clear Communication: Clearly communicate the importance of MSPs to the sales team and how they contribute to long-term customer relationships and business growth and profit. Articulate the goals and objectives of using MSPs, highlighting the benefits for both the sales representatives and the customers.

-> Leadership Buy-In: Demonstrate leadership support for MSPs by using them in interactions with key accounts or sharing success stories. Highlight how MSPs contribute to the overall sales strategy and the organization's growth goals.

-> Provide Tools and Resources: Invest in technology and tools that make it easier for sales representatives to create, manage, and track MSPs. Offer templates, guidelines, and best practices for creating effective MSPs.

-> Incentives and Recognition: Introduce incentives or rewards for sales representatives who successfully implement and achieve results through MSPs. Recognize and celebrate the efforts of sales representatives who consistently use MSPs and achieve positive outcomes. Gamification around certain key moment of truth of the MSP can be fun and encourage not only deal progression but also MSP adoption.

-> Integration into Sales Processes: Integrate the use of MSPs into the existing sales processes, methodologies and CRM systems, making it a natural part of the sales workflow. Incorporate MSP discussions and reviews into regular sales cadances, meetings and reviews.

-> Feedback and Iteration: Encourage sales representatives to provide feedback on their experiences with using MSPs, and use this feedback to refine and improve the MSP approach. Be open to making adjustments to the MSP framework based on real-world experiences and challenges.

-> Showcase Success Stories: Share success stories and case studies within the organization that highlight how MSPs led to positive outcomes for both the company and the customers. Use these stories as examples of how MSPs can be effectively used to drive mutual success.

-> Continuous Support: Offer ongoing support and coaching to sales representatives as they implement MSPs. Address any questions, concerns, or challenges that arise during the adoption process.

-> Cultural Emphasis: Foster a culture that values collaboration, customer-centricity, and long-term relationships. MSPs should align with these cultural values.

-> Pilot Programs: Consider implementing pilot programs with a smaller group of sales representatives to demonstrate the effectiveness of MSPs and gather insights for improvements before scaling up. Program teams are essential to help teams on key pilars of sales; pipe creation, pipe progression, closing.

-> Regular Review: Regularly review the adoption and effectiveness of MSPs within the sales organization. Identify areas of success and areas that need improvement.

By taking these steps, sales management teams can create an environment where the adoption of Mutual Success Plans is not only encouraged but becomes an integral part of the sales strategy, leading to improved customer relationships and overall sales success with accelerated growth and profitability.