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B2B Digital Sales - Sell the buyer’s way

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McKinsey's Jennifer Stanley goes beyond the latest research about when to use digital and when not to. Digital might be the answer, but what is the question? Clearly digital is a game changer for sales organizations that do it well and are in the lead. B2B players that embed digital in their go-to market programs grow >5x faster than their peers and have 30% higher acquisition efficiency.

Published in: Marketing
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B2B Digital Sales - Sell the buyer’s way

  1. 1. 1McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Sell the buyer’s way. J e n n i f e r S t a n l e y | M c K i n s e y & C o m p a n y B2B Digital Sales @JenStanley3 #QuotableSummit #DF17
  2. 2. 2McKinsey & Company@JenStanley3 #QuotableSummit #DF17@JenStanley3 #QuotableSummit #DF17
  3. 3. 4McKinsey & Company@JenStanley3 #QuotableSummit #DF17@JenStanley3 #QuotableSummit #DF17
  4. 4. 5McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Digital sales is increasingly complex “ M o n o - c h a n n e l ” “ M u l t i p l e c h a n n e l s ” “ M u l t i c h a n n e l ” “ M u l t i - t o u c h ” IDENTIFY BUY TRIGGER
  5. 5. 6McKinsey & Company@JenStanley3 #QuotableSummit #DF17 What we found: buyers want human AND digital I m p o r t a n c e o f “ d i g i t a l ” m e a n s I m p o r t a n c e o f “ t r a d i t i o n a l ” m e a n s
  6. 6. 7McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Buyers start journeys wanting H2H and end wanting digital
  7. 7. 8McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Digital is a differentiator, but H2H matters more 43 30 13 27 20 7
  8. 8. 9McKinsey & Company@JenStanley3 #QuotableSummit #DF17 B2B industries are more similar than not NEVER PURCHASED BEFORE NEW SPECIFICATION NEEDS EXACT SAME PRODUCT ALWAYS PREFER DIGITAL 73 55 15 4 71 14 758 73 45 16 7 77 56 16 1 73 51 14 2 79 40 15 3 81 47 14 3
  9. 9. 10McKinsey & Company@JenStanley3 #QuotableSummit #DF17 AND in the typical buyer's decision journey IDENTIFY BUY TRIGGER
  10. 10. 11McKinsey & Company@JenStanley3 #QuotableSummit #DF17@JenStanley3 #QuotableSummit #DF17
  11. 11. 12McKinsey & Company@JenStanley3 #QuotableSummit #DF17SOURCE: 1,200 buying decision makers
  12. 12. 13McKinsey & Company@JenStanley3 #QuotableSummit #DF17 TRANSPARENCY EXPERTISE WHAT BUYERS WANT SPEED
  13. 13. 14McKinsey & Company@JenStanley3 #QuotableSummit #DF17 SPEED No "one click" or shortcut offering Unable to make one-time changes Takes too long to get answer Troubleshooting too slow Sales rep does not follow up Cannot compare products Slow turnaround time Difficult to contact live person
  14. 14. 15McKinsey & Company@JenStanley3 #QuotableSummit #DF17 TRANSPARENCY EXPERTISE WHAT BUYERS WANT SPEED
  15. 15. 16McKinsey & Company@JenStanley3 #QuotableSummit #DF17 TRANSPARENCY Changing prices Product return difficult Product use restricted Supplier does not inform me of problems Unable to store RFP communications Cannot easily see prices Hard to compare across products Difficult to compare new products to what I already use
  16. 16. 17McKinsey & Company@JenStanley3 #QuotableSummit #DF17 TRANSPARENCY EXPERTISE WHAT BUYERS WANT SPEED
  17. 17. 18McKinsey & Company@JenStanley3 #QuotableSummit #DF17 EXPERTISE Troubleshooting is slow Sales reps don’t follow up Supplier does not check in with me Information not tailored to me No single point of contact I do not understand products / services Recommendations don’t apply to me No expert review of purchase
  18. 18. 19McKinsey & Company@JenStanley3 #QuotableSummit #DF17@JenStanley3 #QuotableSummit #DF17
  19. 19. 20McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Digital as a channel in omni-channel go-to-market SOURCE: Digital Quotient Database, B2B CDJ Digital Research, interviews with industry experts, SaaS McK benchmark database, Channel in the Digital GTM age, Sales Growth 2016 Survey 3-4% growth achieved ~0% growth market in a 90% were to new customers previously un-addressable CAGR for products sold through site within 18 months 600% 90%+ of dropped by in support calls Increased customer satisfaction
  20. 20. 21McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Case study: SMB digital only offering SOURCE: Factiva, company websites, Grainger Annual reports + Factbook 1 in 5 Grainger orders placed on a mobile device are picked up in-store E-commerce comprises 40% of total sales and accounts for 94% of growth in year launched 94% 40%
  21. 21. 22McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Case study: Digital as an enabler to account managers new revenue video impressions qualified leads customer testimonials Video-based product test drive for processor card Increase customer engagement through digital channels
  22. 22. 23McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Case study: Digital sales + human support B2B enterprise software company that offers free functionality to users Provides in-depth support, including a user-friendly training program customers spend >$50K in 2015 revenue growth in 2014 marketing and sales expense
  23. 23. 24McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Getting this right can create real value 5X 8X 2X
  24. 24. 25McKinsey & Company@JenStanley3 #QuotableSummit #DF17 Monday morning action items RETHINK how you deal with customer issues PLAN FOR digital tools as part of your customer interactions FIND OUT when your customers want to talk to you
  25. 25. 26McKinsey & Company@JenStanley3 #QuotableSummit #DF17 jennifer _s tanley@mckinsey.com J ennifer Stanley @ jens tanley3 STAY CONNECTED JENNIFER STANLEY Par tner & Leader in Mc Kins ey’s Sales For c e & C hannel Management Pr ac tic e Mc Kins ey on Mar k eting and Sales @JenStanley3 #QuotableSummit #DF17

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