Integrating Thoughts and Ideas by Mike Bosworth October 23, 2007 Marketing WITH Sales
Customer Experience Management The conversations field salespeople or channel partners have with prospects and customers may be the last bastion of competitive differentiation in today’s rapidly commoditizing markets.* Conversations are the most critical element in shaping the customer experience. *American Marketing Association
Build Your Process Around Customers B2B Customer Experience Management Best Practice Selling Behavior Conversational Messaging Organizational Sales Process Arrows indicate INTEGRATION
Integration? VP Marketing says: “ We send Sales qualified leads that fall into a black hole. ” VP Sales says: “ When trying to help (our) salespeople have meaningful conversations with decision makers, in our company Marketing is irrelevant.” CEO says: “ When a deal finally does close, it resembles a series of random events tied together by hope and luck. We do everything once in a row!” VP Professional Services says: “ We are continually have to tell customers our product will not do what the salesperson said it would do.” Salespeople say: “ Sales is a sink or swim proposition. CRM, product training and marketing collateral don’t help us sell. Managers tell us what to do, not how to do it.”
13% of an organization’s salespeople generate 87% of it’s revenue
25% of salespeople do not generate enough revenue to cover their expenses to the company
40% of salespeople lose their jobs every year
Marketing and Sales Responsibilities Strategic Marketing 1-5 years out Market positioning, brand awareness, brand advertising, predicting new markets Tactical Marketing Next 12-18 months Trade shows, collateral, advertising, success stories, web content, lead generation using customer centric messaging Sales Next 1-6 Months Executing the sales process using sales ready messaging The Disconnect
The Marketing/Sales Touchpoint Tactical Marketing Sales What exactly is a LEAD? Sales Says: “ Marketing wouldn’t know a qualified lead if they met one.” Marketing Says: “ We send Sales qualified leads and they fall into a black hole.”
Bridging The Disconnect The key to integrating tactical Marketing with Sales, your Targeted Conversation List The predictable conversations your salespeople will need to have to get your company’s offerings sold, funded and implemented
Targeted Conversation List CRM Example CFO S,F Achieve profit projections with accurate sales forecast Reduce the cost of sales VP Sales S,I Achieve forecasted revenue targets Shorten start-up time for new sales reps Increase the percentage of B and C reps making quota VP Mktg S,I Generate and track leads CIO I Secure customer/pipeline data from competition S Sell F Fund I Implement (Conversion/Compliance) Key Players High Probability Goals
Defining LEADS Name/Title/Company from Targeted Conversation List that is curious/interested in how we helped… Similar title Similar industry achieve a goal or solve a problem
Defining Leads Example John Doe, VP Sales XYZ Software is curious/interested in how we helped the VP Sales of another software company reduce her sell cycle from 9 months to 5
What is Buying? Buying is taking action to acquire products or services that you can visualize using to help you or your organization achieve a goal, solve a problem or satisfy a need .
Product Training Issue Too many people selling “solutions” are unable to explain how their offerings can be used by their potential buyers to: • Achieve a Goal • Solve a Problem • Satisfy a Need
Product Training: Nouns or Verbs? CRM Software Feature list Password administration Single view across platforms Standard milestones Contact information Account history Cross selling 24x7 access Political mapping Electronic coaching Lead tracking Passing of leads Historical close rates Analysis of past campaigns etc., etc., etc.
Does Product Marketing Claim? “ ’ It ’ will improve your sales forecast!” “’ It ’ will increase your productivity!” “ ’ It ’ will reduce your customer churn!” “ ’ It ’ will improve your salesperson morale!” Do prospects wonder how “IT” will do it?
Selling Without Sales Ready Messaging® “ 50 to 90% of collateral created by marketing is never used by sales.” This causes salespeople to develop messaging “on the fly” (13% are competent at this task) Customer Message Management Forum American Marketing Association
Product Centric Positioning “ Our seamless and integrated CRM application will dramatically improve YOUR forecasting accuracy!” (Oh, will it now?)
“ The CEO’s definition of selling is the “DNA” of the customer’s experience.” Gerhard Gschwandtner, Selling Power Magazine Help targeted buyers progress through their buying cycle to a vision of how they could use your offerings to: • achieve their goals • solve their problems • satisfy their needs Company A Company B
Building Incremental Interest Earning the right to ask intelligent questions 30 Seconds Cold Contact “ Elevator Pitch” Sample Menu Curiosity becomes Interest Buyer shares goal 2 Minutes Success Story 15+ Minutes Solution development conversation Curiosity “ Tell me more” Time Interest H L
Can We Enable a B2B Customer Experience? “ Our prospects will be allowed to be curious about how we have helped their job title deal with relevant issues.” “ Our prospects will be given an example of a success story only after asking us to "tell me more.” “ Our prospects will be asked questions about their current situations only after they have shared a goal or a problem.” “ Our prospects will only be offered potential capabilities that will empower them to achieve their goals or solve their problems.” “ Our prospects will hear only facts about our company ’ s credibility rather than marketing hype.” “ Our prospects will view our salespeople as individuals who want to help them achieve their goals or solve their problems by using our products.”
Integrating Sales WITH Marketing By integrating a customer centric sales process with sales ready messaging, you can enable the bottom 87% to behave like the intuitively talented top performers and you can enable the top 13% to sell on purpose!