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Shaping demand through engagement

Shaping demand through engagement

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  • 1. Getting in Early: Shaping Demand Through Pre-Funnel EngagementFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 1
  • 2. Three key questions frame our discussion. GETTING IN EARLY: A DISCUSSION Critical Questions to Answer 1. How important is it for your sales organization to “get in earlier?” 2. What commonly prevents your salespeople from getting in earlier? 3. How has your salespeoples’ ability to get in early changed across the last several years?From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 2
  • 3. Sales organizations ideally seek to engage FINDING A READY CUSTOMER customers with clear needs, who are ready Customer Purchase Experience to buy. Illustrative ■ The primary commercial Sales targets and objective has been to pursues customers engage an opportunity at with clear needs who the earliest moment business are motivated to buy. needs require action. I. II. III. IV. Learn Define Needs Assess Options Make Decision ■ Listening for new ■ Deciding to take ■ Evaluating vendor ■ Vendor selection ideas action capability ■ Settling pricing ■ Evaluating current ■ Clarifying needs ■ Creating vendor and terms approaches ■ short-list Searching for solution Predominantly Predominantly Marketing SalesFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 3
  • 4. Information proliferation has enabled the customer A SHIFT IN BUYING: RELEGATED TO FULFILLMENT to more thoroughly assess needs and options Customer Progress in Today’s Average B2B Purchase Experience without supplier support. ■ This information proliferation has resulted in customers gaining price leverage as they are simply looking for a The average B2B purchase decision is 57% complete, and more than 10 supplier to fill their needs in information sources have been consulted, a relatively low-cost way. by the time a supplier is engaged. ■ Most consumers purchase automobiles in a similar fashion today. Few go to a dealership without having done research, determined options, and knowing the price they are willing to pay. Learn Define Needs Assess Options Make Decision ■ This trend underscores how customers will engage (and always have engaged) suppliers as late as possible. Key Question: How does Sales get involved with ■ This alarming trend raises customers here? a clear question—how does Sales get in early with a more informed customer? Predominantly Predominantly Marketing Sales n = 1,460 customers.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, Source: 2011 MLC Customer Purchase Research Survey; Sales Executive Council research.AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 4
  • 5. SEC conducted extensive research to identify what IN SEARCH OF ANSWERS separates core and hi-per approaches to pre-funnel Research Overview selling in today’s buying environment. Quantitative Rep Survey Structured Sales Rep Interviews ■ 1,078 participants from 23 companies ■ 60–90 minutes interviews ■ Questions on pre-sales activities, and company ■ High-performing and core reps/account managers ■ SEC surveyed more than and manager support of such activities ■ Questions on pre-sales activities, opportunity a thousand reps across ■ Analysis conducted against rep performance data selection, research on opportunities, and a variety of companies, information gathering channels representing multiple Sample Participating Companies industries, across nearly Sample Participating Companies 100 variables. ■ The use of careful control variables ensured data validity. ® ■ Interviews were conducted with high-performing and core-performing reps at numerous member organizations. Sample Variables ■ Sales Rep Behaviors Structured Sales Leader Interviews ■ Interviews were conducted – Influence building behaviors with sales leaders across ■ 54 companies – Customer indentification behaviors the globe. ■ 60–90 minute interviews – Account planning behaviors ■ Head of Sales and Sales Enablement – Competitive analysis behaviors ■ This research was confined – Internal outreach behaviors to pre-funnel sales activities. – Demand orientation behaviors ■ Environmental Measures ■ A variety of pre-funnel sales – Manager Support behaviors, environmental – Support resources factors, and various control measures were surveyed. ■ Control Measures (industry, channel, etc.)From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Pre-Sales Diagnostic; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 5
  • 6. Hi-pers conduct much deeper due diligence on GATHER DEEP INTELLIGENCE opportunities using a variety of non-traditional Improvement in Probability of Being a High Performer information sources. Change in Probability Going from 25th Percentile to 75th Percentile Performer ■ Hi-pers heavily relied on people close to the customer organization, including 6.20% partners, SMEs, consultants, customer employees, and social media sources for this deep intelligence. Conducts Non- Traditional ■ It was evident that many Customer Due core performers quickly Diligence assessed opportunities, but ■ Brainstorm with others to did not probe or search for think of ways to approach further information. Their customers ■ Network with internal searches were often limited subject matter experts to simple internet research. to learn about different customers ■ Hi-pers aim to know things ■ Understand the concerns about the customer that of the buying group the customer doesn’t know n = 1,078. about themselves. What this entails: Surfacing in-depth information about opportunities from outside experts, subject matter experts, operations teams, other sales people, partners, even customer employees, etc. What this is not: Determining basic information about opportunities from sources such as public filings, company overviews, traditional opportunity fit scores, or brief conversations with peers. Example: Gen-i built formal communication channels between operations and sales teams to coordinate information sharing on growth opportunities within accounts. Representative Quote: “I try to triangulate my info sources for any prospect. The info I need is out there, you just have to be creativeFrom the SALES EXECUTIVE COUNCIL® to get it.”of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com Star Performer, Business Services© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN Source: Sales Executive Council Pre-Sales Diagnostic; Sales Executive Council research. 6
  • 7. Hi-pers build their own pipeline—self-generating OWN LEAD GENERATION leads and not overly relying on Marketing Improvement in Probability of Being a High Performer for lead generation. Change in Probability Going from 25th Percentile to 75th Percentile Performer ■ Interviews showed 10.00% considerable differences between core and high- 6.20% performers within the same companies regarding lead generation. ■ High performers devote Conducts Non- Personally Owns Traditional Lead Generation significant attention to Customer Due independently developing Diligence their business pipeline. ■ Brainstorm with others to ■ I devote considerable think of ways to approach personal time to customers finding and nurturing ■ Network with internal leads subject matter experts ■ Working with to learn about different Marketing falls within customers my core responsibilities ■ Understand the concerns ■ I always customize of the buying group collateral to ensure n = 1,078. relevance What this entails: Lead generation and pipeline cultivation is viewed as an important individual responsibility. What this is not: Depending on traditional marketing efforts and the company for leads. ® Example: Eloqua encourages salespeople to maintain a strong social and event networking presence, positioning salespeople as key industry influencers. Representative Quote: “Most of my peers wait for leads—they see lead generation as Marketing’s job. Then they wonder why they’ve got no one to sell to.” Star Performer, Business ServicesFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 7
  • 8. Hi-pers willingly engage in pushing the customer’s LEAD WITH INSIGHT thinking and highlighting flawed assumptions. Improvement in Probability of Being a High Performer Change in Probability Going from 25th Percentile to 75th ■ Leading with insight, Percentile Performer 11.57% strongly echoes the 10.00% Challenger Rep’s traits. 6.20% Conducts Non- Personally Owns Leads with Insight Traditional Lead Generation Customer Due Diligence ■ Brainstorm with others to ■ I devote considerable ■ Teaches the customer think of ways to approach personal time to insights customers finding and nurturing ■ Does not shy away from ■ Network with internal leads highlighting flawed subject matter experts ■ Working with assumptions to learn about different marketing falls within ■ Does not shy away from customers my core responsibilities obstacles in the way of ■ Understand the concerns ■ I always customize valuable business of the buying group collateral to ensure n = 1,078. relevance What this entails: Taking a teaching posture with the customer and willingly challenging customer thinking. What this is not: Leading with features, benefits, and overtly commercial messages. Example: Cargill Pro Pricing arms salespeople with high-impact commercial messages which reframe how customers think about their business, and highlight flawed assumptions customers frequently make. Representative Quote: “You’ve got to position yourself in the knowledge fabric, where customers and their consultants learn. You’ve got to help the customer think differently to be part of that game.” Star Performer, HealthcareFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 8
  • 9. Hi-pers leverage social media to gain access to GAIN PRESENCE AND INFLUENCE business opportunities. Improvement in Probability of Being a High Performer Change in Probability Going from 25th Percentile to 75th ■ Interviews highlighted that 12.81% high-performers deliberately 11.57% Percentile Performer use social media to position 10.00% themselves where customers learn. 6.20% ■ Social media channels such as Twitter and LinkedIn present tremendous scale and reach benefits over Conducts Non- Personally Owns Leads with Insight Uses Social Media as traditional networking Traditional Lead Generation Critical Channel Customer Due channels. Diligence ■ ■ ■ ■ Connect with potential Brainstorm with others to I devote considerable Teaches the customer think of ways to approach personal time to insights customers via social customers finding and nurturing ■ Does not shy away from media ■ ■ Use social networks such Network with internal leads highlighting flawed subject matter experts ■ Working with assumptions as LinkedIn or Twitter to learn about different marketing falls within ■ Does not shy away from to share points of view customers my core responsibilities obstacles in the way of and news about your ■ Understand the concerns ■ I always customize valuable business company and products ■ Use social media for lead of the buying group collateral to ensure relevance generation purposes n = 1,078. What this entails: Positioning oneself as a key influencer within social networks to best leverage their scope and scale to cultivate a business network. What this is not: Using social media as a “spamming” or purely commercial channel. Questions About Social Media ■ Is social media really where customers are going for information? ■ Is there evidence that real companies are successfully using social media for B2B sales? ■ Is this relevant to companies outside tech? What about regulated industries?From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, ■ Does social media help with global or key accounts?AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 9
  • 10. Social media is decidedly part of the B2B buying THE ELEPHANT(S) IN THE ROOM and selling experience. 1. Is social media really where customers are going 2. Is there evidence that real companies are for information? successfully using social media for B2B sales? ■ 78% started with informal info gathering online ■ 59% engaged with peers who addressed the IBM arms salespeople with “social soundbites” challenge which help sales reps engage social networks, ■ 48% followed online industry conversations ultimately generating considerable sales. on topic ■ 41% followed online discussions to learn more about topic Morgan Stanley allows 600+ advisors to use ■ 37% posted questions on social networking LinkedIn and Twitter, generating considerable sites looking for suggestions/feedback leads and reinvigorating past client relationships. n = 100+ B2B buyers across industry. Source: IBM; Chief Marketer; Morgan Stanley; Reuters. Source: Genius.com. 3. Is this relevant to companies outside tech? What 4. Does social media help with global about regulated industries? or key accounts? LinkedIn Contacts Across Industry “LinkedIn and Twitter give me access to the Millions whole ecosystem around that account— Other Recent Headlines consultants, other providers, my key contacts…. 13.6 Timken Adds Based on [my contact’s] connections, it’s easy 11.7 Automotive and Heavy- to see if competition is lurking.” Truck Focus to Social 9.1 Media Conversation 8.3 Star Account Manager, 7.7 7.1 Telecommunications 6.5 Dun & Bradstreet Uses 5.2 4.3 B2B Social Media to 3.7 3.2 2.9 2.6 2.4 Bring Data to Life 2.0 1.7 0.36Source: The Timken Company; Dun & Bradstreet, High Tech Finance Manufacturing Medical Educational Consumer Goods Recreational Construction Government Arts Media Non-Profit Transportation Service Legal Agriculture Corporate SocialMediaB2B.com.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com n = 92,000,000+.© 2012 The Corporate Executive Board Company. Source: LinkedIn.com; Sales Executive Council.All Rights Reserved. SEC3094112SYN 10
  • 11. Hi-pers embrace four critical behaviors in their SHAPING DEMAND pre-funnel selling activity set. Improvement in Probability of Being a High Performer Change in Probability Going from 25th Percentile to 75th 12.81% Percentile Performer 11.57% 10.00% 6.20% Conducts Non- Personally Owns Leads with Insight Uses Social Media as Traditional Lead Generation Critical Channel Customer Due Diligence ■ ■ ■ ■ Connect with potential Brainstorm with others to I devote considerable Teaches the customer think of ways to approach personal time to insights customers via social customers finding and nurturing ■ Does not shy away from media ■ ■ Use social networks such Network with internal leads highlighting flawed subject matter experts ■ Working with assumptions as LinkedIn or Twitter to learn about different marketing falls within ■ Does not shy away from to share points of view customers my core responsibilities obstacles in the way of and news about your ■ Understand the concerns ■ I always customize valuable business company and products ■ Use social media for lead of the buying group collateral to ensure relevance generation purposesFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com n = 1,078.© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 11
  • 12. Hi-pers teach where customers learn, shaping SHAPING, NOT REACTING customer demand in the pre-funnel stage. Variables Most Indicative of Performance Comparison of Core and High Performers ■ Core performers largely wait Distinctive Core Performer Behaviors Distinctive High Performer Behaviors for business opportunities to present themselves. They depend on Marketing to deliver leads, and qualify ■ Assesses opportunities based ■ Conducts non-traditional due opportunities based on on clarity of customer needs diligence clarity of customer needs. ■ Believes lead generation is the ■ Personally owns lead generation Core company’s responsibility High ■ Leads with insight ■ High performers embody a Performer ■ Undiscerningly uses social media Performer ■ Uses social media as a critical “micro-marketing” mindset n = 766 of 1,078. (“spams” their network) n = 312 of 1,078. channel across their territory, teaching customers into their funnel. Fills orders by reacting to existing Teaches where customers learn. demand and settled customer needs Shapes demand by teaching customers into the funnel.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 12
  • 13. Sales must teach where customers learn, shaping SHAPE DEMAND: TEACH WHERE THE CUSTOMER demand to win profitable business. LEARNS Customer Purchase Experience Learn Define Needs Assess Options Make Decision Incorrect Question How can we get our salespeople to sell where needs are initially defined? Correct Question How can we get our salespeople to teach where customers learn? Today’s Star Performer Shaping Reacting to Demand DemandFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 13
  • 14. The wealth of information available to customers is REVISING THE COMMERCIAL FRONT crowding out traditional marketing. Critical Shifts in Sales and Marketing Relative to the Customer Purchase Experience ■ Marketing has traditionally driven awareness and thought leadership in the “learn” phase. ■ However, the wealth of information available to customers has crowded Learn Define Needs Assess Options Make Decision out traditional marketing messages. ■ Customers have applied filters to the information they consume, granting access to few sources. Marketing ■ Enable sales reps with ■ Identify unique differentiators. ■ Sales can earn the required short messages to engage ■ Develop and package commercial insights which highlight unique access to customers in this customers while learning. differentiators. state, helping them think ■ Support sales reps’ personal differently about their ■ Enable further exploration of needs through interactive, yet scalable, brand building. business in ways traditional messages and content. marketing collateral cannot. Sales ■ Train sales reps to be ■ Adapt marketing insights for direct interaction with customers. ■ Marketing must provide involved in channels where ■ Train sales reps to deliver commercial insights in compelling ways. worthy contributors that customers learn (e.g., social media). ■ Teach reps to target and identify the right stakeholders to carry enable sales in gaining insight into customer business. access to customers in ■ Teach reps to personalize the learning stage. marketing messages.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICE Source: Sales Executive Council research.www.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 14
  • 15. ROAD MAP FOR THE PRESENTATION Other Profiles 1 2 How can reps earn permission to How do reps teach engage customers where they learn? customers into the funnel? GAIN CREDIBILITY AND INFLUENCE REFRAME CUSTOMER THINKING Customer Intelligence Pipeline IN SOCIAL MEDIA CHANNELS TO VALUE YOUR SOLUTION ® Profile of a Social Media Star Demand Shaping Coaching Guide Deconstructed World-Class Commercial Insights Ready-Made Social Messages Social Proximity Lead Distribution Summary of Key Learnings Stage Zero Selling High Performer Demand Shaping ToolkitSource: Sales Executive Council research.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 15
  • 16. “Social soundbites” help engage customers where TEACHING CUSTOMERS WHERE THEY LEARN they learn. Customer Purchase Experience Learn Define Needs Assess Options Negotiate Deal “Social soundbites” are used here to gain access to customers, engaging them in a credible fashion while they learn.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 16
  • 17. Customers, bombarded with a near constant flow FILTERING OUT THE NOISE of learning opportunities, are becoming increasingly Nature of Information Surrounding Customers discerning of information Illustrative sources. ■ Today customers are exposed to considerable Consultants Consultants Industry and near-constant learning Consultants Insiders Industry opportunities. Insiders Industry Customers are Insiders increasingly exposed to information excess. ■ In response, customers Customer are very selective about SMEs Customer which content they engage. SMEs Customer SMEs Peers Peers Peers Sales Reps Sales Reps Sales Reps Customer Information Filtering Customers have become Illustrative increasingly descerning about the information sources and content Screen 1 Screen 2 Screen 3 Screen 4 from which they choose to learn. Gene Inform ral ation General Consumed Information Information al Gener ion Informat Credible Relevant Non- OffersFrom the SALES EXECUTIVE COUNCIL® and Topical Commercial Uniqueof the SALES, MARKETING,AND COMMUNICATIONS PRACTICE Perspectivewww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 17
  • 18. The best salespeople earn permission to GAINING INFLUENCE be influencers within their customers’ social Levels of Social Media Maturity in Sales networks. ■ The best reps are not just present in social media, Basic Intermediate Advanced they position themselves as credible and influential I am a personal brand sources in customer Individual I am a profile I am a company rep consistent with my networks. This affords them Presence company more access to customers. Prospects and ■ The approaches on this Thought leaders and key People I personally know connections who have Network influencers page range from passive to access to those prospects actively involved. Groups related to my Groups where my ■ While advanced behaviors Organizations I belong to company’s industry or customers exchange info may initially appear to Groups (alumni, company, etc.) product set and seek advice require significantly more time, reps claim efficiencies emerge quickly. Time is Information broker, Actively observe, even required to initially build Intermittent check-in curating engaging Involvement participate, in discussions such a network. content ■ The fundamentals of gaining acceptance and influence Immediate Be Findable Monitor Participate in such channels include Goal being credible, being topical, offering perspective, and generally being involved.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 18
  • 19. Top performers cultivate a strong social network, EARNING INFLUENCE ® allowing better customer access and credibility. Representative Behaviors from a Social Media Star ■ Simple approaches to social media engagement help top performers to establish a significant presence. http://www.linkedin.com/in/motherofmarketingautomation Get Personal: Leverage other connections or personal information to make connections. Learn Openly and Share It: Show your network you’re learning and show customers you’re “in the know.” Give to Give: Share information to engage the broader network and establish followership in social media. “We encourage our sales teams to get on Engage Others: Directly interact with the social bandwagon connections, credit others, ReTweetand develop their own interesting posts, and generally involveprofessional brands. We have to yourself.join the online conversation to becredible and effective.” Be an Influencer, Not a Seller: GainingMelissa Madian access to customers and building a deepSr. Dir. Worldwide Field Enablement network is a function of contribution, notEloqua commercialism.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Eloqua; https://twitter.com/#!/jill_rowley; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 19
  • 20. READY-MADE SOCIAL MESSAGES OVERVIEW Marketing enables low-burden and relatively immediate social presence by sales team SOLUTION HIGHLIGHTS Ready Made Social Messages Marketing provides sales with the ready-made messages and suggested networks to engage. A Personalized Touch by Salespeople Sales reps individualize messages being sent into their networks. SCENARIO ■ IBM found that engaging “white space” B2B customers in a new market did not work for web-based services. ■ IBM’s research showed that 75% of buyers were likely to use social media to influence their purchasing decisions. ■ IBM piloted a program to equip inside sales reps to establish a social media presence and update prospects and customers with ongoing information. COMPANY SNAPSHOT IBM Industry: Diversified Computer International Business Machines (IBM) is the world’s top provider of Systems computer products and services. 2011 Sales: US$107 Billion Employees: 433,000+From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 20
  • 21. Marketing delivers social media engagement MASS CUSTOMIZATION approaches to sales, which takes it to the Overview of Social Selling customer. ■ Marketing brings benefits 1 of both information scale, Marketing builds ready- and on-target messaging to Marketing made social messages social selling. and suggested social networks for sales. ■ Access to social networks is not as freely extended to companies, but rather to individuals. 2 Sales individualizes these Inside Sales messages and engages ■ Arming inside sales with social networks on a social messages presents a more personal basis. scalable, yet individualized channel to interact with customers. ■ IBM has initially leveraged Customers and inside sales for this “Considerers” in approach. The principles Social Networks of this best practice largely hold true for field-based (both direct and indirect) sales forces. “The traditional sales cycle has changed—the customer is in control now. Is the marketplace ready? Well, our customers are ready. If we’re not there, we’re not going to be engaged in the conversation early enough to win.” Douglas Hannan Business Unit Executive Inside Sales Marketing IBMFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: IBM; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 21
  • 22. Marketing ensures that Sales’ burden to RELEVANT, READY-MADE MESSAGES participate in social media channels is Principles of “Social Soundbites” relatively low, yet highly relevant. Grounded in Coupled with Short Reason to Lead to IBM Trending Issues External Content Care Social soundbites Messages must are grounded in ■ The marketing-led approach Ensure message Non-commercial Messages are lead back to IBM four principles, eases both rep concerns relevance by content better intentionally short capabilities, even ensuring relevance of additional work, and monitoring permeates and meant to if indirectly. without requiring trending issues social media and garner interest extensive company concerns of rep- customization. generated content. among users and generates more in less than 15 considerers network interest. seconds. Joe Smith Joe Smith Fundamentals of Low-Burden Social Messaging “We have an informal Locate messages within rep workflow, in this rule that 80% of our case in an RSS feed integrated with rep e-mail messages from our “Prefabricated” messages are built by Marketingsellers should be value-add, and Allow message choice with new content pieces to ensures a low-burdennot specifically mention IBM. We experience for the sales reps published on a production scheduleare helping our sales team build who push these messagescredibility in the market.” Messages have pre-written introduction, bit.ly through social media.Ed Linde II links1, and hashtags2 already embedded.Senior Marketing ManagerIBMFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, 1 Shortened URL links.AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com 2 “#” Mark in front of a word, which links to currently-trending social discussions in Twitter.© 2012 The Corporate Executive Board Company. Source: https://twitter.com/#!/KellyMMeade; IBM; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 22
  • 23. Marketing recommends social media contacts and READY-MADE NETWORK networks to keep Sales’ burden initially low. Social Network Recommendations from Marketing to Sales ■ Each specific product Key Influencers vertical receives Prominent and active subject matter recommendations on key experts positioned well within verticals. Marketing influencers, groups, and Identified by involvement in groups, researches and hashtags to help gain number of followers, and amount of recommends these networks respective ready-built social citing (ReTweeting). networks within attention. LinkedIn and Twitter for sales ■ Reps are expected to Critical Social Groups reps to follow. continue building their own Groups dedicated to, or discussing, personal network, despite various types of products and services these initial suggestions offered by IBM. from Marketing. ■ IBM also has a reactive lead generation program seeking out potential customers Recommendations for Engaging Key Influencers asking for peer reviews, RFP criteria, or other clear buying “ReTweet” and Credit Influencers signals. Sallie Anderson Gain credit with key influencers by broadcasting their messages, particularly ones relevant to the rep. Thank Influencers Who Credit You Joe Smith Social capital matters significantly in online social networks, and it helps key influencers build their own personal brand.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: https://twitter.com/#!/KellyMMeade; IBM; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 23
  • 24. Reps’ personal touch helps ensure customer PERSONALIZING THE TOUCH receptivity and engagement. Rep Contextualization of Messages Topical ■ Reps are granted far more Messages must fit within the broader context of the access to social networks current discussions occurring in social media channels. While the social than the company, at large. messages are Current and Well-Timed pushed to ■ Encouraging minimal editing Keys to Authentic reps, they are Messages Messages must be current in order to be accepted as encouraged to of messages helps mitigate part of network dialogue. individualize them likelihood of networks by simply changing socially rejecting or ignoring a few words. Language messages. Messages must be match the “native” language in each ■ Company-provided websites social group or network. allow reps to create their own online presence. This Channels for Individual Rep Social Presence serves as a digital business card of sorts. LinkedIn account Twitter account ■ This customized website is particularly important Personal website, with for inside sales, who rarely integrated Twitter feed, engage in-person with personal video, and IBM customers. product overviewsFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN Source: http://www.ibm.com/connect/ibm/us/en/resources/kmmeade/; IBM; Sales Executive Council research. 24
  • 25. Providing sales reps with ready-made social SPEEDY AND IMPRESSIVE RESULTS networking opportunities has yielded fast and significant results. Twitter Followers Seller Personal Page Views Pilot Team (North America), Indexed Pilot Team (Global), Indexed ■ The speed with which IBM has seen results is remarkable, and can be 12x 2.06x attributed to marketing’s efforts to make this low- burden for the sales force. 1x 1x Pre-Pilot Post-Pilot Pre-Pilot Post-Pilot (Seven Months) (Two Weeks) “We’ve seen considerable growth through our pilot and are now working to roll out “We’ve built a set of across our many sales forces.” digital capabilities for our sellers to engage Douglas Hannancustomers where they learn and Business Unit Executivewhen they learn about ways to Inside Sales Marketingimprove their businesses.” IBMEd Linde IISenior Marketing ManagerIBMFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: IBM; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 25
  • 26. LINKEDIN BASICS 1. Make a Profile 2. Complete All Basic Categories 3. Get Recommended Go to www.LinkedIn.com and register. Education, experience, contact details and Ask managers, peers and customers to complete interests. Include links to your company and one paragraph recommendations highlighting any other social networks like Twitter or online strengths and accomplishments. Don’t be shy industry networks. about asking! Only post the best 3–5—no one wants to read 20 recommendations. 4. Add a Photo 5. Write a Good Summary 6. Write a Unique Headline Profiles that include a photo are 7X more likely Highlight your particular value-add or unique Include a major accomplishment or strength, to be viewed than those without a photo. Photos capabilities. How you sold is more important not your job title but something special you should be professional, clear and a good current than what you sold. Include keywords that consistently do. representation of the person. match your skills. 7. Find People You Know 8. Invite People to Connect 9. Find Groups Use your current organization, find old Invitations to connect are more likely to be Groups relevant to your customers’ issues, their colleagues or classmates and check their accepted if you personalize them. Never rely on work, or the capabilities that support them are connections to see if you find others. LinkedIn the standard LinkedIn invite. a good place to start. Search by keyword to find also has a “you might know” feature that can be communities relevant to your industry or groups very helpful when starting out. your connections frequent. 10. Interact Put up a few posts of your own, ask or answer questions and see how people respond. Posts should not be overtly commercial and should match the tone of other discussions in the forum.Source: thelinkedinman.com; Sales Executive Council research.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 26
  • 27. ROAD MAP FOR THE PRESENTATION Other Profiles 1 2 How can reps earn permission to How do reps teach engage customers where they learn? customers into the funnel? GAIN CREDIBILITY AND INFLUENCE REFRAME CUSTOMER THINKING Customer Intelligence Pipeline IN SOCIAL MEDIA CHANNELS TO VALUE YOUR SOLUTION ® Profile of a Social Media Star Demand Shaping Coaching Guide Deconstructed World-Class Commercial Insights Ready-Made Social Messages Social Proximity Lead Distribution Summary of Key Learnings Stage Zero Selling High Performer Demand Shaping ToolkitSource: Sales Executive Council research.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 27
  • 28. Sales must reframe how customers think about TEACH CUSTOMERS INTO THE FUNNEL their business to best initiate a role. Customer Purchase Experience Illustrative ■ While “soundbites” help initially engage customers, teaching compelling insights Star performers teach insight is required for the customer to initiate a sales process by to take action. either shaping or re-shaping customer demand. Teaching Learn Define Needs Assess Options Make Decision 1 Shape Demand 2 Reshape DemandFrom the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 28
  • 29. True commercial insights meet a high bar and go INSIGHTS GO BEYOND THOUGHT LEADERSHIP well beyond traditional thought leadership. Hierarchy of Information Conveyed Through Sales Messages Illustrative ■ Many mistakenly present newsworthy information as 1 General Information if it were frame-breaking. ■ While newsworthy 2 Accepted Information information may attract initial customer attention, it has little lasting customer 3 Thought Leadership impact. 4 Insight t ■ Commercial insight leads van ng customers to appreciate Newsworthy r redible/ Rele me-Breaki lie S u pp unique capabilities. 5 Commercial d to ■ Common examples of Insight Fra ea thought leadership include Be Be C L Be white papers, newsletters, industry research, and survey reports. Litmus Test for Commercial Insight: If you took your logo off of your pitch deck or presentation and gave it to your competition, would the Commercially insightful customer still buy from you? messages lead back to the supplier exclusively.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 29
  • 30. There are three distinct types of reframes. THREE WAYS TO REFRAME Types of Reframes ■ Approaches should be selected based on the customer’s current level of Do Customers Tend Do Customers familiarity with the problem to Be Familiar with Often Have an at hand, as well as whether the Problem Your Understanding How Customers or not they have already Solution Solves? of the Solution? Present Themselves developed an understanding of the solution. Underestimated Problem Customers often Teach customer that the problem is far ■ While sales messages that appear content in greater in magnitude, or needs to be focus on customer problems dealing with the issue. appreciated differently, and therefore tend to drive the greatest warrants an alternative approach. urgency, these approaches could also be used to teach customers about untapped Customer often Unrecognized Driver opportunities. accepts the problem Teach customer that a problem is driven by as a “cost of doing a different root cause than they had realized, business.” allowing the problem to be better managed. Customer appears Unanticipated Problem ignorant or Teach customer that an unrecognized completely ill-informed problem is fast approaching, and will have a of the issue. detrimental impact if not addressed. While these are portrayed in light of business challenges (as most successful commercial teaching examples are), this framing equally applies to upside opportunities.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Sales Executive Council research.All Rights Reserved. SEC3094112SYN 30
  • 31. Cargill magnifies an existing problem that MORE THAN MEETS THE EYE customer’s haven’t fully appreciated. Case in Point: Underestimated Problem ■ The company teaches Acknowledge the customer problem: farmers who continue 10-Year Average10 Dec Corn Futures - Daily Market Close 1999-2009 of Year Futures Average to market their grains $3.30 independently the numerous Marketing grain used Once grain prices factors that contribute to to be so much simpler, marginally varied, now Average Futures Price market volatility making it only a few factors pricing volatility is the $2.80 harder for them to interpret affected pricing. norm. PLANTING MARKET UNCERTAINTY Planted acres GROWING SEASON HARVEST Producer planting intentions Planting progress Weather (moisture & temps) Yield South American crop size Planting conditions Pollination Grain condition (moisture, test weight, etc.) Global demand Weather (moisture & temps) Crop disease(s) South American planting intentions & progress and act on information on Crop emergence $2.30 January February March April May June July August September October November December 12 Months their own. ■ Cargill’s solution allows Teach customers how they’ve underestimated the problem: farmers to tap into its global But Today? Market Factors Are Almost Too Numerous to Count. resources and expertise to stay on top of market Today market factors And every market information and consistently are too numerous to factor is increasingly sell grain at peak prices even count: global food complex, influenced by in a volatile market. demand, geopolitical a seemingly endless issues, debt crisis, number of dynamics. energy, etc. PAGE 4 ProPricing Contracts CargillProPricing.com PAGE 5 Present a new way forward, that only Cargill can offer: $6.30 Average Futures Price $5.80 PRIME TIME AVERAGING PERIOD Only Cargill has this $5.30 COMPANY SNAPSHOT The customer needs such a broad, and $4.80 January February March April May June July August September October November December deep expertise and 12 Months Cargill, Inc. deep, understanding Your final price is equal to the average of the daily close during the Prime Time Pricing Period. understanding of Industry: Diversified Products of market influences global markets and and Services to help farmers market crop conditions. 2011 Sales (USD): $119,469M grain. Employees: 138,000From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Cargill; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 31
  • 32. Dentsply teaches customers about a IT’S WITHIN YOUR CONTROL problem that customers’ previously thought was Case in Point: Unrecognized Driver unsolvable. Acknowledge the customer problem: ■ The company teaches • Easy application and splatter-free • Optimum blend of polishing and c Dentists have excellent stain removal dentists how the previously accepted problem of struggled with That has long been hygienists having Carpal hygienist absenteeism considered a cost of Nearly Nearly y Tunnel issues is controllable. and early retirement business in the dental one-third ne-t ird e-th of dental health professi fessionals cite e due to Carpal Tunnel industry. m musc musculoskeletal disord rs is rder 3 Syndrome. as the reason for early retire ment. arly etire m – Burke FJT et al. Br Dent J. Teach customers how the problem is more manageable than previously thought: g g f While most dentists Recent studies have believe such wrist demonstrated that a conditions are very specific cause: the unavoidable, in weight and ergonomics most cases, they are of the instruments preventable. hygienists use. Present a new way forward, that only Dentsply can offer: To solve these COMPANY SNAPSHOT Only Dentsply offers challenges, hygienists Unmatched lightness Dentsply International Inc. ergonomically correct need tools that are in the palm of your hand Industry: Health Care Products and light enough lighter and more A lightweight hygiene 2011 Sales (USD): $2,537M dental tools. handpiece system designed comfortable. with your comfort in mind Employees: 11,800 NEW Midwest ® RDH ® Featherweight Hose • Designed to work exclusively with the Midwest® RDH® Hygienist Handpiece • Reduces cord drag • Improves user comfortFrom the SALES EXECUTIVE COUNCIL® with ergonomic designof the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company. Source: Cargill; Sales Executive Council research.All Rights Reserved. SEC3094112SYN 32
  • 33. Bunchball teaches an unrecognized problem YOU DIDN’T REALIZE IT, BUT YOU NEED that customers have failed to account for in TO ACT NOW their website operations. Case in Point: Unanticipated Problem ■ The company picks an emerging trend—the fight Teach customers about a problem they’ve failed to recognize: for internet user mindshare— to teach web managers the There are a number But the greatest challenges associated with of familiar day-to- problem is one very retaining online customers in day challenges that few realize: crowded the near future. occupy web managers’ web user mindshare. attention. ■ To win online user mindshare, Bunchball proposes gamification Teach customers that this problem is worse than it seems and solutions—a new way to unlikely to disappear: drive customer engagement and retention on the web. The growing number While engaging of websites competing existing web visitors for new user attention is already difficult, continues to grow, attracting new visitors drowning out your will be more daunting. website. COMPANY SNAPSHOT Present a new way forward, that only Bunchball can offer: Bunchball, Inc. Industry: Online Service Only Bunchball Provider Leading websites rely can help web 2011 Sales (USD): $7M on gaming principles managers incorporate Employees: 50 to engage web users gamification into their continuously. website.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING,AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 33
  • 34. CHALLENGER MESSAGING SUPPORT OPTIONS SEC Membership: SEC Solutions: An Introduction to Challenger Messaging Challenger Messaging Engagement What It Is What It Is A day-long workshop (included in your membership) arming your team Expert support to create an insight-led message for a selected product or to take initial steps in developing an organizational capability to build segment, and tools that improve your team’s understanding of Challenger commercial insights Messages When When ■ Session 1: 17 July 2012, Chicago Four-month engagement with workshops at your company location ■ Future sessions to be announced Who It Is For Who It Is For ■ Commercial organizations who need to equip their sales team with insight Members companies may send up to a total of three attendees from that helps them differentiate Sales Leadership, Sales Enablement, Marketing, and/or Product ■ Sales and Marketing leaders and their teams (Product Managers and Sales Operations are common participants) What It Will Cover What It Will Cover ■ An exploration of unique differentiators—what they are, and what they ■ Build Challenger Messages—Equip your team with messages for a key aren’t using real examples to ground the teaching product, service, or segment. ■ An exploration of reframing techniques for various insights ■ Teach Your Team how to Build Messages—Enhance the organization’s ■ Frameworks for determining company-level, segment-level, and solution- ability to source insights and develop messages for your customers. level insights ■ Gain CEB Insight on Your Customers—Capture the most pressing needs of ■ Message tailoring approaches for different segments and functional your customers using CEB consumer data and best practice research. stakeholders ■ Deploy Structured Pre-Work and Interviews—Information gathering led by ■ Interactively improving existing sales messaging Solutions team to prepare for the Workshop ■ Participate in Messaging Workshop—Two-day session for sales and marketing leaders, reps, and product managers to collaborate on message creation ■ Receive the Message Guide and Toolkit—For participants’ future referenceSource: Sales Executive Council research.From the SALES EXECUTIVE COUNCIL®of the SALES, MARKETING, AND COMMUNICATIONS PRACTICEwww.sec.executiveboard.com© 2012 The Corporate Executive Board Company.All Rights Reserved. SEC3094112SYN 34
  • 35. SALES, MARKETING, AND COMMUNICATIONS PRACTICE SALES EXECUTIVE COUNCIL® Pre-Funnel Demand Shaping Toolkit Gaining Permission and Access Qualifying Teaching 1 3 4a General Listening Identify Change Teach to Shape Demand While direct leads can be surfaced by simply listening in social media, the more Change should happen, or is likely to happen (but the customer has not Teach customer about the problem. immediate intent is to understand the nature of the conversation happening, yet taken action). allowing you to best position yourself in that conversation. General Social Media Listening Action Step (Gather Deep Information) Action Step (Teach) ■ Join LinkedIn groups where customers and prospects are having conversations. These ■ ■ Select and deliver a message about an unanticipated problem that is fast approaching Brainstorm with other salespeople to think of ways to approach customers are not groups about your products/solutions, but about business challenges your ■ and will have a detrimental impact if not addressed. Network with internal subject matter experts to learn about different customers customers tend to face. Read at least weekly updates on significant conversations taking place in those groups. ■ Understand the concerns of the buying group ■ Leverage technology your marketing team likely already has—social listening tools. Ask Key Tells Indicating You’ve Influenced Customer Thinking Key Tells of Potential Change a favor of your marketing colleagues: have them search for social activity based on a ■ Customer asks clarifying questions and seeks additional information ■ Stakeholders show discontent with status quo handful of keywords relevant to the problems your solution solves. ■ Customer acknowledges that they have overlooked the problem ■ ■ General customer awareness of underperformance Involve yourself in the social conversation, providing your own perspective and “giving to ■ Customer grants access/refers you to additional stakeholders give.” Overtly commercial involvement will not be welcomed and may harm your personal ■ Multiple stakeholders seeking advice (live or social networking) brand. Gaining influence within the network is a product of earning trust and delivering ■ Customer agrees to follow-up conversation/expresses desire to learn more ■ Key stakeholder or consultant turnover insight to the network. ■ ■ Renewal decision upcoming (and customer is unlikely to have started For Key Accounts, follow your customer’s company group. assessment) Advance to Sales Funnel 2 Narrowing Listening and Gaining Access Customer has a poor understanding of the problem 4b Listen in a deliberate fashion to opportunities with potential to move into your or is unaware of it altogether. Teach to Re-Shape Demand funnel, gleaning as much information as possible. Teach customer about a better way to solve the problem. Customer is aware of the problem Targeted Social Media Listening (and potentially has an action plan/solution in the works). ■ Your opportunities engaging in social conversation can provide highly valuable Action Step (Teach) information. They may reach out to their network for advice, or signal that change may OVERVIEW OF TOOL ■ If customer appears content with current solution to problem, teach them that the be happening in other ways. They may offer others advice, revealing valuable information This tool was constructed with the help of various high-performing problem is far greater in magnitude than they’ve realized, and therefore warrants an about their business approaches. Monitor these conversations closely. alternative approach. sales people within the SEC membership. This tool is not meant to be ■ Directly connect with any and all prospects and known influencers associated with those a comprehensive guide, but rather, a helpful set of reminders to ensure ■ If customer accepts the problem as a “cost of doing business,” teach them that the prospects (consultants, purchase influencers, end-users, technical users, etc.). Follow key problem is driven by a different root cause than they’ve realized, and can be effectively sales and sales operations teams are shaping demand, not just reacting contacts in Twitter. managed. to demand. Special thanks to the following companies for allowing the ■ Offer advice and a point of view to potential prospects who are actively learning in social SEC access to their high-performers. media channels. Follow up directly. Key Tells Indicating You’ve Influenced Customer Thinking ■ For Key Accounts, track key stakeholders’ networks scanning for competitive ■ Customer initially pushes back or shows healthy skepticism, but is engaged connections, new relationships with purchasing consultants, or other signs that may ■ Customer has an “aha” moment, demonstrating their thinking has been reframed indicate the customer is seeking other options. ® ■ Customer begins to openly question their existing approach Targeted Listening Outside Social Media ■ Customer grants access/refers you to additional stakeholders ■ Conduct aggressive loss analysis, understanding what factors contributed to the ■ Customer agrees to follow-up conversation/expresses desire to learn more customer’s decision. This is particularly useful in service or contract-based sales. ■ When appropriate, establish relationships with purchase consultants. Arm consultants with insights on the industry and information that will help them provide value to your Recommended Uses shared customers. These relationships can yield important information about your ■ Reps: Use the tool as reminder of actions you can take to help shape customer and other potential leads. demand in new and existing accounts ■ Glean information from internal peers (sales or other) and partners for information on ■ Managers: Use the tool as a coaching guide to sharpen reps’ pre- prospects. ■ funnel sales activities For Key Accounts, establish a regular business planning session, bringing operations teams and other internal teams supporting your customer together to gain deep account ■ Sales Enablement: Use the tool to inform your sales processes and intelligence. Arm these ops teams with insights to teach to end-users or other potential enablement support influencers for whom you do not have immediate access.Source: Sales Executive Council.© 2012 The Corporate Executive Board Company. www.executiveboard.comAll Rights Reserved. SEC3094112SYN Client Site: www.sec.executiveboard.com