Top Sales Experts B2B Buyer Trends

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Webinar to help increase selling effectiveness with multigenerational buyers and customers. Research is provided on buyer trends and preferences and implications for organizations are outlined.

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  • This is an excellent overview of how B2B customers are making buying decisions. I have been researching the American Life Project studies, labor statistics and various experts on generalational shifts in brand survival, and this presentation really defines how selling to new generations will affect your B2B marketing model. As I plan for updates, web interactivity and networking changes, I find myself referring to this Dr. Brookmire's slideshare over and over again.
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Top Sales Experts B2B Buyer Trends

  1. 1. B2B Buyers: How New Generations Are Changing the Way We Sell by Dr. David Brookmire www.GenerationalDNA.com Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  2. 2. Agenda • Generation X and Y are Changing the B2B Selling Landscape o Exec involvement in the buying cycle has changed o The information sources they use to make decisions are NOT what you’re investing in o The communication channels they prefer are not the ones where your sales force excels Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  3. 3. YOUR BUYER AND YOUR SELLER ARE CHANGING Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  4. 4. Foreign-born Generation Z Gen Y Gen X Traditionalists Boomers Source: The Concours Institute Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  5. 5. GENerationalDNA Friction Map: Sales Reps Boomers Gen X Gen Y Seller sending Seller isn’t sales docs vs. communicating Boomers working Boomer via Boomer’s peer network preferred channels Buyers Gen X Seller doesn’t Seller making understand the Y generational Gen Y buyer’s personal assumptions and drivers alienating buyer Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  6. 6. SOME GENERATIONAL STATS ABOUT YOUR B2B BUYER Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  7. 7. Baby Boomers Gen X Millennial Born Between 1946 - 1964 1965 - 1980 1981 - 2000 Labor force 76m 50m 88m Purchasing With Credit Cards With Credit and Bank Cards Purchase On-line Significant Milestones •Cold War •High Divorce Rates •Terrorism (Oklahoma City, •Vietnam War •Challenger Disaster Columbine, 9/11) •Civil Rights •High Parents’ Unemployment •Flat world Rates •Global Warming View of Technology Master It Enjoy It Employ It What they bring to work Role of Career HYPE Leather briefcase Central Focus Cell phone and lap top Work/Life Balance iPhone Always Changing Major Influences Family & Education The Media Friends, Media Sports Stars, More Aware Work Is Exciting Adventure Difficult Challenge Means To An End Role of Relationships Limited, Useful Central, Caring Global Communication , Media, •TV •Video: Atari, Nintendo •Internet Technology •Photograph •Computer •Laser Disc Players •Touch-tone Phones •Cell Phone •IPOD, MP3 Player
  8. 8. Boomer Gen X Gen Y If you sell to 30% Large 24% Large 40% Large companies that are 19% Medium 32% Medium 34% Medium Large ($751m - $2B+) Mid($51m - $750m) 51% Small 44% Small 26% Small Small (<$50m) If your ASP is >$50K All ASPs $2,500-$50K If you sell to this 39% VP 20% VP 5% VP 26% Director 18% Director 11% Director level 26% Manager 33% Manager 32% Manager 10% Professional 29% Professional 52% Professional If you sell to this Finance, IT, Ops, Marketing, Finance, IT, Ops, Marketing, Engineering, Ops, Marketing, Purchasing, Sales Purchasing, Sales, R&D IT, Purchasing, Customer function Support If you sell these Computer software, services, Computer software, services, Computer software, services, hardware, business services, hardware, electronics, hardware, electronics, products furniture & fixtures, printing, business services, paper, business services, paper, telecommunications printing printing If you sell to these More prominent in: Business More prominent in: Business More prominent in: & Consulting Services, & Consulting Services, Healthcare, Media & industries . Computer Softrware & Computer Software & Entertainment, Commercial Services, Telecommunications Services, Education, Goods, Food & Beverage, Services, Electronics, Banking, Pharmaceuticals & Biotech, Financial Services, Industrial Manufacturing, Tech Hardware Government Manufacturing, Non Profit, & Equipment Aerospace & Defense Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  9. 9. THE OMNIPRESENT MULTI- GENERATIONAL EXECUTIVE Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  10. 10. QUICK GEN SURVEY Which generation is involved in the middle of the sales cycle as well as the beginning and end? Gen Y Gen X Boomer Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  11. 11. QUICK GEN SURVEY Which generation is involved in the middle of the sales cycle as well as the beginning and end? Trick Question. They ALL are. Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  12. 12. Executive Dogma Source: Read & Bistritz, 2009 Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  13. 13. Today: The Higher the Exec, the More Involvement Executive Involvement B2B Buying Cycle Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  14. 14. Are You Prepared for Execs Throughout the Buying Cycle? Gen X B2B Buyers Buying Stage Involvement Executive Sales Tools & Messaging Identify/diagnose problem 64% White Papers √ Build business case 61% Case Studies √ Decide to buy external 60% Case Studies √ solution Obtain budget 53% Exec-level ROI meetings? Search for solutions 71% Exec conscious website? Exec-ready call center? Meet with vendors 65% Exec level demo? Set requirements 67% Mapped to Exec needs? Evaluate selected solutions 71% Competitive intel/messages targeted for Execs? Decide on solution 68% Exec pitch √ Negotiate contract 51% Executive peers engaged √ Review performance, 61% Exec presentation of results? installation, implementation Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  15. 15. Key Implications for Sales Managers • Boomers and Xers still prominent: BUT, Gen Y buyers continue to increase their involvement and growing – Typical decision makers for ASP below $50k and in certain industries • Execs Always Present: Execs at all stages of the buying process – from business case, to demo, to results review • Need for Generationally Aware Sales Skills: Selling approaches need to be aligned with the level and generation of the buyers Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  16. 16. THE SOCIO-POLITICAL MARKETING BUDGET Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  17. 17. QUICK GEN SURVEY What are the two most influential sources of information useful to all decision makers in buying decisions? Professional Content Websites Videotaped Case Study Advertising Internet Reviews Books Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  18. 18. QUICK GEN SURVEY What are the two most influential sources of information useful to all decision makers in buying decisions? √ Professional Content Websites Videotaped Case Study Advertising √ Internet Reviews Books Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  19. 19. Boomers use Sources of Information for Buying Decisions BOOMERS Trusted Advisor Internal 59% Best Practice/Professional content w ebsites 57% Trusted Advisor External 59% Internet Review s 52% Peer Group Rerralsa 49% Direct Mail 5% New spaper 4% 0% 10% 20% 30% 40% 50% 60% 70% 80% Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  20. 20. And so do Xers . Sources of Information for Buying Decisions GEN X Trusted Advisor Internal 75% Best Practice/Professional content 63% w ebsites Peer group Referrals 60% Advertising 8% 20% or more of your company’s marketing budget Direct Mail 7% is spent on these lowest rated sources of info 0% 10% 20% 30% 40% 50% 60% 70% 80% Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  21. 21. And Y is similar, too . Sources of Information for Buying Decisions GEN Y Trusted Advisor Internal 63% Best Practice/Professional content 57% w ebsites Internet Review s/feedback 56% Books/Authors 13% Video Case Studies 7% 0% 10% 20% 30% 40% 50% 60% 70% 80% Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  22. 22. Information Availability – Buyer Quotes • “All buyers do their research online for information on product vs. relying on a salesperson. The sales role has become more of a customer support role.” • “Information does not necessarily come from the vendor. It has become easy to find information from lots of sources.” • “You can do your own research. Also, product reviews are important – people that are unhappy tend to be very vocal.” • “EDI increases speed and efficiency. For example, the seller is contacted over email, the buyer can look for his quote on the webpage or through electronic attachment vs. waiting in the mail or over fax.” • “Vendors do not necessarily have to be local or limited to the U.S. In one instance distribution companies in China were sourced through the internet and were used to make a purchase.” • “Level of accessibility to products and services much greater. For example, shopping for an email marketing tool and Tweeted about Silverpop experiences. Got several responses on the vendor and other suggested tools.” Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  23. 23. Sales Implications: Politics and Marketing • Understand where your buyers go for information – Get prominent on the site they use for best practice, professional and review content. • Know their internal and external advisors and influencers: – Dust off that political mapping tool in your sales methodology and put it to work – Sell AROUND your B2B buyer • They’re social, they network, but not on Facebook: – Execs leverage peer professional and social networks – Find THEIR social networks NOT the hype social networks • Revisit the marketing budget: – 20% or more of typical marketing budgets are spent in areas Execs use the least – Best bet? Move social, video, ad dollars to third-party internet content and analysts Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  24. 24. THE RISE OF REMOTE SELLING Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  25. 25. Interacting with Buyer Generations in the Field Boomers Gen X Gen Y Face-to-Face Phone Email On-line Meetings Texting Social Networks Green – Most Preferred Light Blue – Use Yellow – Use Sometimes Orange – Preferred by Few Red – Not selected Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  26. 26. Key Implications for Sales Managers: Get off the Plane • Get off the plane: Face-to-face may be your preference but not the buyer’s • Hire for remote selling skills: Don’t just test their in-person pitch, test them on the phone and over the net • Develop remote sales skills: does your sales training prepare for online/on the phone sales scenarios? Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  27. 27. DIAGNOSING GENERATIONAL ISSUES IN SALES Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  28. 28. Diagnosing Generational Issues • Customer dissatisfaction by generation • Win/Loss analysis by sales/buyer generation • Territory generational analysis—untapped revenues due to generational biases • High customer attrition in certain generations Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  29. 29. Adapting to the Generational Shifts • Map your prospect and customer database along with your sales force today and project their composition 3-5 years out • Begin to incorporate these generational preferences/differences into your marketing and sales processes, channels, and messages • Survey your customers to find out how they really make decisions • Align your selection, training, development, and retention with your customer base Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  30. 30. GenDNA Solutions • Buyer research reports available in November • Sales rewards research report available now • C-Level/Remote selling skills development • Hiring the best sales professionals • Customer preference research • Selling effectiveness consulting projects Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved
  31. 31. Please provide feedback, suggestions, and questions. If you are interested in a pilot partner opportunity. Contact: Dave Brookmire 404-593-5001 dbrookmire@generationaldna.com Copyright © 2009, Corporate Performance Strategies, Inc., All Rights Reserved

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