Have You Discovered the Hidden Sales Cycle?

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The hidden sales cycle has emerged over the past decade as the world has moved online. In this presentation, I’m going to show you what the hidden sales cycle is - and how marketers and sales …

The hidden sales cycle has emerged over the past decade as the world has moved online. In this presentation, I’m going to show you what the hidden sales cycle is - and how marketers and sales professionals should work together to take advantage of it.

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  • Script: The hidden sales cycle has emerged over the past decade as the world has moved online. In this presentation, I’m going to show you what the hidden sales cycle is - and how marketers and sales professionals should work together to take advantage of it.
  • Script: Before, the only way customers and prospects could get information about your products and services was by talking to you. Today, talking to you is the last thing they do. By the time they finally get in touch, most of them will have made their decisions.
  • Script: Customers are much better informed than they used to be, thanks to:Social media forums and networksOnline reviewsCompany websitesIndustry media and analysts Comparison websitesThese sources provide customers with more than enough information for them to move through the research and evaluation phases of the buying cycle without ever directly speaking to a provider of the product or service they are looking to buy. We are all customers, so we all know how much easier it can be to research products alone. Many of us hate being pestered by pushy sales people in a shop, or being called constantly at work by biased vendors with questionable information. Being able to compare products and services online gives consumers power.
  • Script: Your challenge is to ensure that prospects find your company during the online research stage.There is no longer a clean hand over between sales and marketing.Many marketing and sales teams will not even be aware of this ‘hidden sales cycle’. It’s likely that no one in your company is taking advantage of this resource and finding new business opportunities through it.
  • Script: What do we mean when we talk about ‘reading digital body language’?Reading ‘Digital body language’ involves knowing where each prospect has been online.What content have they read on your blog?Which emails have they opened?Where have they been on your website? Marketing automation helps companies track where prospective customers are looking online to predict their buying behaviour. With the right software, analysing this ‘digital body language’ is easy. Marketing automation is easy to integrate with your CRM, giving both the marketing and sales departments a comprehensive view of your customers. Sales professionals can then measure if they’re ready to buy before you make that crucial sales call. Marketers have become ‘sales enablers’ - producing the content and strategic support sales teams need to engage with prospects successfully.    
  • Script: With so much content online and so many companies offering the same products and services, how do you make sure that you get on your prospects’ radars during the crucial research stage? Follow these four simple steps and you can make sure that it’s you they find, rather than your competitors...
  • Script: If you’re going to provide the information that lets customers know you are the provider for them, you need to know exactly who your target audience is.What is their job role?What business pains do they need to resolve?What does a day in their life look like?What do they want to achieve by investing in your products or services?The marketing and sales teams should work together to develop ‘target personas’. Once you know who you’re trying to speak to, engaging with them will be much easier.
  • Script: With so many possible places your prospective customers could be hanging out online, where do you start? Well, in the B2B world, the most common places people go to get feedback, help and information are:TwitterFacebookLinkedIn groups and forumsIndustry analyst websitesTrade magazine and association websitesOnce you’ve found what social media networks they are active in, you should join the conversation. But don’t just go in there with a hard sell - talk to people and start developing your reputation for knowledge and adding value.
  • Script: Sales and Marketing should work together to develop educational and engaging content that shows your prospects how they can become more effective and efficient, without ever telling them they need your products and services to do so. A lead management system can send emails automatically to whoever you choose - for instance, prospects who have looked at a certain product page on your website could be emailed a certain eGuide. Messages need to be useful, timely and customer-centric or your content just won’t get read.
  • Script: Once you’ve established your social networking presence by interacting with people and developing your reputation for being a thought leader in your industry, you can start pointing people to your blog or website content while you’re having conversations with them online. Your sales team can also leverage the real-time reporting functions in your lead management system to see which customers are currently online; then make that call or send that text there and then.
  • Script: TakeawaysTo start making the most of the opportunities in the hidden sales cycle, you need to:
  • Script:Get the sales and marketing departments to work together to identify exactly who they’re targeting. Everyone should know what their business pains are, what they want to achieve and how they plan to achieve it.Get online and start developing relationships in forums and groups to grow your reputation as a value-adder and thought leader. Get the sales and marketing teams to work together to develop the content that your prospects need and want. You should use lead management solutions to deliver content and move prospects along the buying cycle until they are ready to talk to you.Use the real-time reporting functionality of your lead management system to see how your prospects are interacting with your emails, website and web content so you can engage with them at the right time.1 - Everyone should know what their business pains are, what they want to achieve and how they plan to achieve it.3 - using lead management solutions to deliver content and move prospects along the buying cycle until they are ready to talk to you.4 -
  • Script: As you may have guessed, this is all much easier with Oracle Eloqua Marketing Automation software!In fact, it’s probably impossible without it.Follow these steps and you will net more customers and convert more leads into sales.

Transcript

  • 1. ARE YOU TAKING ADVANTAGE OF THE HIDDEN SALES CYCLE? Leading businesses track customers‟ online movements to predict their buying behaviour. It‟s easier than you think...
  • 2. ? 02 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved. WHAT IS THE HIDDEN SALES CYCLE?
  • 3. Before, Today, Customers had to talk to you. Talking to you is the last thing they do. 03 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 4. CUSTOMERS ARE MUCH BETTER INFORMED THAN THEY USED TO BE x20 By 2020, Gartner predicts data volumes will grow to 20 X what they are today Gartner 75% IDC Joint Google and CEB research project, 2011 04 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved. On average, B2B buyers are 57% through the purchase decision before engaging a supplier sales rep. 75% of digital information is generated by individuals 57% Joint Google and CEB research project, 2011 Sources: http://panelpicker.sxsw.com/vote/20006 http://uk.emc.com/about/news/press/2011/20110628-01.htm http://www.executiveboard.com/exbd-resources/content/digital-evolution/index.html
  • 5. Your challenge is to ensure that prospects find your company during the online research stage. 05 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 6. READING „DIGITAL BODY LANGUAGE‟ Reading „Digital body language‟ involves knowing where each prospect has been online. 1 What content have they read on your blog? 2 While 76% of marketers believe “They know what their consumers want” in terms of social media content and interaction, only 34% have actually asked those buyers. Which emails have they opened? 3 Where have they been on your website? 34% e-Strategy Trends 2012 76% Source: http://trends.e-strategyblog.com/2012/09/07/how-social-consumers-see-it-vs-how-social-maketers-see-it-infographic/3609 06 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 7. FOUR STEPS TO TAKING ADVANTAGE OF THE HIDDEN SALES CYCLE STEP 3 STEP 1 Develop the content that will attract their attention and send it automatically Know who they are STEP 2 Know where they‟re looking for information 07 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved. STEP 4 Start thinking real-time
  • 8. STEP 1 Know who they are 1 What is their job role? 2 What business pains do they need to resolve? 3 What does a day in their life look like? 4 What do they want to achieve by investing in your products or services? 08 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 9. STEP 2 Know where they‟re looking for information Twitter Facebook LinkedIn groups and forums Industry analyst websites Trade magazine and association websites 09 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 10. STEP 3 Develop the content that will attract their attention and send it automatically Companies that automate lead management and send new content automatically based on digital body language signals typically see a 10% increase in revenue in just 6-9 months. 10% Source: http://blog.katapult.co.uk/inbound/11-reasons-to-nurture-your-leads-with-marketing-automation/ 10 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved. Katapult
  • 11. STEP 4 Start thinking real-time Within 15 Minutes Within 30 Minutes 11% 12% Within 5 Minutes 9% Within few days or so Within one hour “In general, how soon after you contact a brand, product or company on social media do you expect to receive a response?” 33% Source: http://www.convinceandconvert.com/the-social-habit/42-percent-of-consumers-complaining-in-social-media-expect-60-minute-response-time/ 11 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved. 10% More than one hour, but later same day 25%
  • 12. TAKEAWAYS To start making the most of the opportunities in the hidden sales cycle, you need to: 12 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 13. 1 2 3 4 Get the sales and marketing departments to work together to identify exactly who they‟re targeting. Get online and start developing relationships in forums and groups to grow your reputation as a value-adder and thought leader. Get the sales and marketing teams to work together to develop the content that your prospects need and want Use the real-time reporting functionality of your lead management system to see how your prospects are interacting with your emails, website and web content so you can engage with them at the right time. 13 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 14. As you may have guessed, this is all much easier with Oracle Eloqua Marketing Automation software! Follow these steps and you will net more customers and convert more leads into sales. 14 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.
  • 15. DON‟T MISS! See how you shape up with the Modern Marketing scorecard eloqua.com/scorecard 16 Copyright © 2013, Oracle Eloqua and/or its affiliates. All rights reserved.