Striking it Rich with Sales Enablement
 

Striking it Rich with Sales Enablement

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Most organizations agree that Sales Enablement is a function that helps develop and implement strategy to improve the sales process. However, confusion surrounding how to orient, communicate about, ...

Most organizations agree that Sales Enablement is a function that helps develop and implement strategy to improve the sales process. However, confusion surrounding how to orient, communicate about, measure and manage sales enablement causes it to underperform in many organizations.

How can Sales Enablement best do what its name implies? During this webinar, Demand Metric chief analyst Jerry Rackley will:

Share data from a recent study to describe the current Sales Enablement landscape
Present best practices for Sales Enablement
Discuss how webinars and web conferencing solutions can facilitate the success of this function, helping it live up to the promise of its name.

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  • The Content Marketing Institute’s 2013 B2B Content Marketing Benchmark study compared what the most effective content marketers were doing with what the least effective ones were doing.It really shouldn’t surprise any of us that tailoring content to the profile of the decision maker was the top tactic for effective content marketers.This data is great validation for what we’re going to talk about today, and we probably didn’t need the data to help us understand that it’s a good idea to provide content – webinars or any other form – that meets the needs of prospects looking for solutions.With webinars, however, we haven’t always done this. There was a time when I was a one-trick webinar pony, using webinars for only one purpose and at only one place in the sales cycle. Today, we’re going to talk about how to view and use webinars more broadly.
  • Many organizations deployed webinars at some point in their past to meet a need – often an online demo or sales call. Webinars work very well for this, but when webinars become part of the marketer’s toolbox in this reactive way, they way their use evolves is usually pretty random. After the sales team latches on to webinars and uses them effectively, when there’s no strategy for using webinars, if they’re used outside this original purpose, it’s often kind of hit-or-miss. Got an idea? Let’s do a webinar. What a great set of slides! Let’s do a webinar. This evolution in the use of webinars isn’t necessarily a bad thing, it just fails to fully exploit webinars as a medium. Just opening up the tap and allowing more webinars to flow out of your organization may not be a good measure of how you’re using webinars or how they can help you.
  • What we’re going to do today is suggest a strategy for using webinars that is aligned with your sales cycle. This first implies that you understand a couple of things:What your sales cycle looks like: how long it takes what stages it includes and what the buyer is thinking and trying to accomplish in each stage. The second thing we want to understand is how we can support the buyer in each stage of the sales cycle with information that helps push them through it faster, and with a affinity for our solution, by having a laser-beam like focus on meeting their informational needs as they progress through the sales cycle.Our goal in today’s webinar is to understand how webinars can meet the informational needs of buyers throughout the entire sales cycle, not just in one or two stages.To do this, we first have to spend some time studying who we’re trying to influence.
  • Anytime you’re developing content – webinars or any other form – the first thing you must do is fully understand the audience for that content.What do we know about the audience? Our biases get in the way here. We often feel that we know our audiences or target market really well. After all, we’ve been doing business with them for so long. But just like any relationship, familiarity leads to assumptions and a form of laziness. It’s incumbent upon marketers to constantly recalibrate their understanding of the audience for their content, because preferences and interests do shift.We also have to objectively consider why the audience for any webinar we produce should care. Of course we always feel our content is interesting, but we have to have an “out of body” experience, and look at our webinars (and other content) from their perspective. Does this meet an information need? Are we delivering something of value? Is our webinar the kind, after which it has been viewed, would lead an audience member to recommend viewing or share it with their peers? Would they attend a future webinar based on their experience with the last one?
  • It’s really helpful to understand how our audience is “wired” – if we’re fortunate to have an audience that is segmented into a fairly homogeneous group, we can profile them and understand their decision making process, their priorities and lots of characteristics that we should consider as we’re developing and producing webinars for them.For example, when you consider the three characters pictured on this screen, which of them would likely relish a detailed, in-depth technical discussion of a topic?Likewise, which of these types prefers a succinct explanation of just the most relevant details?The more we understand about our audience, the better we’re able to create content that meets their needs, and influences them.
  • Something that’s really important as we’re producing webinars is to know where our audience is experiencing “pain” – not necessarily physically of course, but what are their problems? Pain creates urgency. When we know what the pains of our audience are and then we produce webinars that discuss resolution strategies, viewing them becomes a priority for the audience.
  • Let’s take a look at the sales cycle now. While every organization has a sales cycle that is unique, for the most part, buyers progress through the same set of stages. The difference are the length of time spent in each stage, and what the buyer does in each stage.Consider where during this cycle you most frequently encounter a buyer. Generally speaking, the earlier in this cycle that we encounter a buyer, the better. The reason is simple: we have more opportunity to create a relationship and influence the purchase decision. I’ve experienced transactions where the buyer materialized with a purchase order for our product – in the Decision stage. We called sales like these “bluebirds” and we loved getting them, but it’s a risky business strategy to count on buyers emerging from the weeds to hand you an order.
  • The other thing that happens when we do this – have the right kind of webinar content deployed and ready to meet buyers right after the birth of their need – we imprint our message on them earlier in the sales cycle, creating influence that expands and extends through more of the cycle.
  • While webinars can have great effect anywhere in the sales cycle, what under-utilizes webinars is the traditional model of having a lead generating webinar that tries to catch buyers in the Need stage, and/or a qualifying webinar in the Discovery stage. Please hear me on this – these are not bad things to do. In fact, many organizations have had a lot of success doing this. However, it’s like buying a 4-bedroom home and only using 1 or 2 two rooms.
  • When you look at what the buyer is going through, they’ve just identified a need. Initially, they will validate it – do I really have a problem? If so, are there solutions for it?If it is a recurring pain or need, the first thing the buyer tends to ask is “what did we do last time?” They don’t want to reinvent the wheel if a prior solution worked. If it didn’t, or didn’t work well, they’ll be off on a journey through the rest of the sales cycle, where you’ll want to be waiting for them with clean, comfortable webinar “rest-stops” along the way.
  • So what makes sense in terms of a webinar strategy for this stage? As a seller, you want to make it very clear that you understand the pain or need. You can assure the buyer that their need is indeed legitimate, that strategies exist to address the need, what the buyer should consider as they pursue solutions, and as you do this, you position your company as a helpful and a source of expertise. If you make specific product references, it should be with a very light sales touch. Keep in mind that what you’re doing with a webinar in this stage is not selling, but helping. Selling will come later.Simone has some examples of real webinars that illustrate this that she’ll share with us now…
  • The webinar strategy for this stage is to be noticed and get on the buyer’s list. Being easy to find is the biggest part of this. So have webinars that are informationally relevant for this stage – continue to be helpful but begin to blend some promotion in. “How-to” content and case studies work very well during the Discovery stage. You can deliver live webinars, but its just as likely that recorded ones stand a better chance of being found. So make sure you’re following best practices when it comes to hosting these recordings on your website, on your own Youtube channel, promoting them on your blog, through social media and other ways that index them well for search and give them maximum visibility.Simone has some examples of webinars that work well in this stage…
  • In the Consideration stage, the buyer is now in assessment mode. What’s important for the seller is to know about the buyer, and vice versa. Seller credibility is very important here, because the buyer is examining performance and claims, seeking to understand if users who look like they do are receiving the benefits the seller promised the solution would deliver.
  • Before get to the Q&A, Simone and I wanted to share information about some tools that can help you put together an effective webinar program. Demand Metric has collaborated with ReadyTalk to create this webinar survival kit to help you plan, assess, manage and track your webinar programs.Simone to share more…

Striking it Rich with Sales Enablement Striking it Rich with Sales Enablement Presentation Transcript

  • Striking it Rich with Sales Enablement Sponsored by: Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Today’s Agenda  What is Sales Enablement?  “Enabling” Sales Enablement  Becoming more strategic  Measurement  Conclusions  Q&A #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Today’s Presenter: #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  •  Chief Analyst, Demand Metric Research Corp.  Connect: www.demandmetric.com LinkedIn Facebook @DemandMetric Jerry Rackley #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • What is Sales Enablement? “The processes, practices, technologies and tools that improve the performance and productivity of the sales organization.” #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • What is Sales Enablement? “The processes, practices, technologies and tools that improve the performance and productivity of the sales organization.” Sales Enablement enhances the ability of the sales team to increase company revenue through sales. #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Sales Enablement Resources  Sales Enablement in 2013: Best Practices, Case Studies and Insights  Sales Enablement Framework  Sales Enablement Benchmark Study #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • The survey says: It develops strategy to help improve the sales… It creates materials and assets to improve the… It recommends, provides or administers systems… It provides sales effectiveness training It performs analysis to understand how well our… It identifies cross-selling opportunities It helps integrate new channels into our sales… It offers coaching to members of the sales team It provides product training It flattens the organizational boundaries to secure… It on-boards new sales staff Other 0 232 191 162 160 155 137 134 131 118 113 98 15 50 100 150 200 250 #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • The survey says: It develops strategy to help improve the sales… It creates materials and assets to improve the… It recommends, provides or administers systems… It provides sales effectiveness training It performs analysis to understand how well our… It identifies cross-selling opportunities It helps integrate new channels into our sales… It offers coaching to members of the sales team It provides product training It flattens the organizational boundaries to secure… It on-boards new sales staff Other 0 232 191 162 160 155 137 134 131 118 113 98 15 50 100 150 200 250 #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • How many organizations have it? I don't know, 9% Yes, 50% No, 41% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Does it work? 60% 50% 56% 46% 40% 30% 20% 10% 0% Missed goal Made goal #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Does it work? 45% 42% 40% 33% 35% 30% 25% 20% 13% 15% 10% 7% 5% 5% 0% Don't know No discernible contribution Slight contribution Moderate contribution Significant contribution #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Does it work? 45% 42% 40% 33% 35% 30% 25% 20% 13% 15% 10% 7% 5% 5% 0% Don't know No discernible contribution Slight contribution Moderate contribution Significant contribution #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • How well is Sales Enablement Understood? #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Understanding is key to effectiveness: 16% Very well 60% Well 19% Neither poorly nor well Significant None or Slight 5% Poorly Very poorly 0% 0% 10% 20% 30% 40% 50% 60% 70% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Understanding is key to effectiveness: Very well 16% 0% 60% Well 7% 19% 19% Neither poorly nor well Significant None or Slight 5% Poorly Very poorly 58% 0% 16% 0% 10% 20% 30% 40% 50% 60% 70% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • “Enabling” Sales Enablement #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Key to Sales Enablement success:  Communication! #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Webinars are highly effective  Decentralized sales team  Efficient  Real time  Recorded  Collaboration #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Top priority: internal communication!  Position the Sales Enablement Function:  What does it do?  Who is it for?  How does it help?  How to engage it? #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Communications opportunities: It develops strategy to help improve the sales… It creates materials and assets to improve the… It recommends, provides or administers systems… It provides sales effectiveness training It performs analysis to understand how well our… It identifies cross-selling opportunities It helps integrate new channels into our sales… It offers coaching to members of the sales team It provides product training It flattens the organizational boundaries to secure… It on-boards new sales staff Other 0 232 191 162 160 155 137 134 131 118 113 98 15 50 100 150 200 250 #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #1. Strategy to improve the sales process  Idea generation  Idea validation  Polls  Strategy buy-in and rollout #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #2. Materials & assets for the sales team  Don’t just create stuff and toss it over the transom…  Host launch webinars for key new assets #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #3. Recommend, provide & administer systems  Understand needs  Gather requirements  Demo solutions  Provide training #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #4. Provide sales effectiveness training  Identify problem areas (e.g. Objection Handling)  Host webinar with sales team member with the best skills in problem areas  Consider role-playing  Record webinars for on-demand viewing #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #5. Perform analysis of the sales process  Focus group session with members of the sales team  Record it  Support findings/conclusions with sound bites of the sessions #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #6. Identify cross-selling opportunities  Host case study webinar for sales team featuring successful cross- sale  Identify and share opportunities/leads  Preview available resources to help cross-sell #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #7. Integrate new channels  Orientation  Key staff introduction  Systems training  Support training  Assets/resources training #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #8. Coach the sales team  One-on-one sessions to improve performance #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Becoming More Strategic #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Strategic orientation Very strategic, 12% Very operational, 2% Primarily operational; some strategic, 18% Primarily strategic; some operational, 26% Equally balanced, 42% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Strategic orientation & effectiveness 100% 88% 90% 75% 80% 70% 60% 52% 50% None or slight 40% Significant 30% 16% 20% 10% 5% 0% Very operational Primarily operational; some strategic Equally balanced Primarily Very strategic strategic; some operational #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Strategic orientation & effectiveness 100% 88% 90% 75% 80% 70% 60% 55% 52% 50% None or slight 40% Significant 30% 21% 16% 20% 10% 13% 11% 5% 5% 0% Very operational Primarily operational; some strategic Equally balanced Primarily Very strategic strategic; some operational #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Orienting Sales Enablement strategically  Have a vision for it – don’t just set it up to take orders  Continuously reinforce the vision through your communications  Validate that the vision is aligned with performance and results #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Measurement #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Measurements 50% 46% 40% 30% 20% 29% 22% 21% 21% 19% 14% 9% 10% 4% 2% 0% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Measurements & effectiveness 77% Measures trusted 56% Achieving other financial goals 52% Productivity measures Significant contribution No or slight contribution 45% Achievement of sales goals 15% None 0% 20% 40% 60% 80% 100% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Measurements & effectiveness Measures trusted 77% 0% 56% Achieving other financial goals 12% 52% Productivity measures Significant contribution 9% No or slight contribution 45% Achievement of sales goals 12% 15% None 47% 0% 20% 40% 60% 80% 100% #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Conclusions #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Conclusions  Orient Sales Enablement strategically #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Conclusions  Orient Sales Enablement strategically  Communicate effectively #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Conclusions  Orient Sales Enablement strategically  Communicate effectively  Measure the Sales Enablement process #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • Resources to help: #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #RTWebinar Demand Metric Research Corporation Copyright © 2013. All Rights Reserved.
  • #RTWebinar © 2013 Demand Metric Research Corporation. All Rights Demand Metric Research Corporation Copyright © 2013. All Rights Reserved. Reserved.