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Gateway buyer intro
- 1. PATRICK HOGAN How you can Identify and Engage the Market to Close the only buyers left In 10 days Stop wasting efforts chasing bad leads from 90% of the market Promise Concept Offer
- 2. 2 ENGAGE THE ONLY PEOPLE BUYING IN THE NEW MARKET 01 SITUATION: VISION:02 CHALLENGE03 SOLUTION04 36 minutes Gateway Adopter/Buyer Psychographic Segment NEXT STEPS05 YOUR PIPELINE IS A DANGEROUS ILLUSION ONLY ENGAGE GATEWAY BUYERS GATEWAY BUYERS ARE DIFFERENT HARD/EASY TO FIND ONLY ENGAGE THE 10% WITH THE RIGHT SELLING MOTION ADAPT FOR A WINNING SALES MOTION, FAST
- 4. SITUATION | THERE IS A NEW MARKET REALITY How can I deliver my #’s in COVID time?! v 10%+ in every market still buying Most non-buyers Unique thinking, different perspectives, needs, expectations Old value prop, selling motion not relevant NOT in a “down market” DISRUPTED market Different, new risks My Pipeline Ratios are not good!? Every day you are further behind Old practices/activates not working, E.g. Discounts don’t move the market Opportunities in pipeline are a fantasy
- 5. SITUATION | YOU NEED TO ADAPT ? ? ? Need to do Something! Change to what?!?! Need new selling motion • Filter the noise • Lead gen messaging • Qualification & advancing “New” Buyer Unique Thinking Different expectations Mismatched Selling Motion Was for stable market Selling to the wrong needs More of what you are doing - won’t get what you want To get to the new buyer Will prove ? Market LeadersGateway Buyers
- 6. 6 SITUATION | YOUR WAY OUT - BIG PAYOFF Research finding - find market leaders REST OF MARKET GATEWAY BUYER Budget Fixed Discretionary People Total Market Discretionary Funds Rest of Market Gateway Buyer
- 7. 7 SITUATION | YOUR WAY OUT - BIG PAYOFF People Concentrated Market High Lifetime Value 1. “Value” buyer 2. Skills to succeed doing new things 3. Lead the market 10% of the accounts have 50% of the Discretionary funds Total Market Discretionary Funds Rest of Market Gateway Buyer
- 8. 8 VISION JUST IMAGINE IF… YOUR SELLING EFFORTS ONLY ENGAGE GATEWAY BUYERS NOW
- 9. 9 VISION | SELL NOW - TO THE ONLY BUYERS 90% are not target buyers A Selling Motion engages in a new way 1. Right prospecting motion 2. Right Solutions 3. Right customer stories – to lead the recovery Gateway Buyers Crush Your Number
- 10. 10 CHALLENGE GATEWAY BUYERS ARE EXTREMELY HARD TO FIND & GATEWAY BUYERS ARE EASY TO FIND
- 11. CHALLENGE | FEW BUYERS… How do you find them? What are their “tells”? Within the same market demographic 3. Pragmatic, opportunistic pioneers These are the Gateway Buyers 10% hided within every market 1. Crazy – Optimists 2. The Masses This is your current pipeline Where the gravy has been Only take low-risk, proven purchases Lock-down in a risky market
- 12. CHALLENGE | … & HARD TO FIND Gateway Buyer within a Demographic • Current motion => random success • You can’t “buy a list” of psychographics Gateway Buyers is a Psychographic segment Avoid RiskLOVE Risk 3. Pragmatic, Opportunistic pioneers These are the Gateway Buyers 10% hidden within every market • Unique – “healthy” relationship with risk
- 13. INDICATORS | UNIQUE SET OF “TELLS” Avoid RiskLOVE Risk Goal: Win…via competitive advantage Projects: Pursue risks - yet manage it Behaviors: NOT perfectionists - Satisfice You need to ask the right questions to find Gateway Buyers
- 14. Ask questions and filter – act - on what you hear CHALLENGE | DON’T SPEND TIME WITH THE 90% • Without these conversations - NOT qualified opportunities • Don’t invest time on non-Gateway Buyers Good news – even if you only ½ decent – double your performance v • Qualify real opportunities - on new type of criteria • Rep’s behave differently - high volume of “reject”- uncomfortable for most - normally work on relationships • Don't be your own worst enemy • Don’t fall back on old habits • Don't talk to people just because they will talk to you
- 15. 15 SOLUTION ONLY ENGAGE THE 10% WITH THE RIGHT SELLING MOTION
- 16. 16 SOLUTION | TAILOR YOUR SELLING MOTION I understand and I have a solution that will help you win. I want to… Right prospecting motion – to Gateway Buyers Right Solutions – that Gateway Buyers find compelling Goals? Manage Risks? Done? Win? Tell me about…. Know Risks? Gateway Buyers
- 17. 17 Gateway Buyers SOLUTION | AND BIG PAYOFF @ RECOVERY I am winning with …. vHow can I do that too? You are positioned to lead the masses – “I can help you…’ – Right customer stories – Proven way out for the rest of the demographic – Adapt your selling motion to the new mass-market You have the proven solutions for the new market
- 18. 18 NEXT STEPS IMPLEMENT YOUR WINNING SALES MOTION FAST 1. Identify and engage so you can 2. Close the only buyers left in your disrupted market … would you be interested?
- 19. NEXT STEPS | CONSULTING BUYER PSYCHOGRAPHIC INSIGHTS SYSTEM (BPIS) Step 1: Define your Gateway Buyer Persona – only buyers Step 2: Define Your new Gateway Buyers Selling Motion Step 4: Adapt Selling Motion – Positioned to lead recovery Step 3: Deploy new selling motion – right messaging The right selling motion In days NOT weeks Promise – Engage real buyers, fast Concept - BPIS Offer - 4-steps
- 21. 21 ABOUT US | DELIVER COMPELLING TO THE RIGHT PEOPLE Gateway Adopters LLC – Creating and Delivering Compelling Offering for the people most likely to prove to the masses PATRICK HOGAN Product Management Lifer – making teams healthy What I do – unstick product teams to bring breakthrough offerings to market in a fraction of the normal time I think like an ”Innovation Physician” EXPERTISE Rigorous research & insight — 100+ C-level/1000+ consumer interviews, quant/big data studies Deep technology knowledge — Enterprise SaaS, Analytics, AR/VR, Developer platforms BACKGROUND 20+ years of experience in product planning, management MBA Dartmouth//Tuck School UW Engineering 7+ years: Working with growth startups 18+ years: Microsoft, Adobe, Avanade, Accenture, Boeing Broad industry experience — Automotive, Aerospace, Consumer, ISVs, SIs
- 22. “CATALYST FOR THE MASS MARKET GATEWAY BUYERS | PREDICTOR: RELATIONSHIP WITH RISK COPE: FOLLOW COPE: RUN TOWARDS! COPE: FOLLOW ?? H. COPE: PURSUE, MANAGE KNOW RISKS DON’T KNOW RISKSDON’T KNOW RISKS YEARS OF RESEARCH 1. 100’S OF DECISION MAKER INTERVIEWS, 2. SOPHISTICATED ANALYSIS ~400,000 DATA POINTS, 3,800 HIGH-STAKES PROJECTS RISKS EMERGING FOUND INDICATORS: 1. KNOW RISKS? 2. COPE WITH RISKS? COPE: AVOID, RUN AWAY!
- 23. 23 GATEWAY ADOPTERS | HOW THEY LEAD THE MASSES TopGoal Think like an F1 team – what will make me faster!!! Focus on top goal that will gain an advantage Clear understanding of options Use the best option to get better - win – just enough Non-Goal; eradicate the issue – just not #1 Try solutions if better RIO vs. alternatives Your Opportunity - Compelling USP 2ndGoal 3rdGoal 4th Shift to next/ new “top” issue Theory of Constraints to achieve a competitive advantage
- 24. 24 CHALLENGE | FINDING THEIR “TELLS” You need to ask the right questions to find Gateway Buyers Goal: Win – via Competitive Advantage Projects: Pursue risks - yet manage it Behaviors: NOT perfectionists Gateway Buyers
- 25. PATRICK HOGAN Q: How To Build Pipeline in a Covid-19 Market? A. Target The 10% of People That are Buying Stop wasting efforts chasing bad leads from 90% of the market
- 26. NEXT STEPS | OPTION 1 – GROUP BOOT CAMP Adapt your selling motion and offering- to the new market need Step 1: Define your Gateway Buyer Persona – only buyers Step 2: Define Your new Gateway Buyers Selling Motion Step 4: Adapt Selling Motion – Positioned to lead recovery Step 3: Deploy new selling motion – right messaging In Weeks NOT months
Editor's Notes
- In a normal cycle in a “down market” everyone struggling to grow a pipeline Real danger is making a mistake - think this is a “down”
- NOT winning People in it are fine - - 90% excuses, uncertainty – always ahead – there to win like you – winner take the chance w/ you – win adversity – proven – not everyone Scricity – not doing it means – be a follow – insanity – loose your customers Elite – will be a winner for this – right message, right people Crisis buyer – innovative buyer – R to left, connect w/ tools – 1 point per graphic – most relevant new market reality New reality - in a new, DISRUPTED market - NOT in a down market You are not “stuck”– new market has new needs. Your existing opportunities are an illusion/fantasy Opportunities/deals – old offering for an old need, using an old value prop – all based on old market Old practices/activates not working, E.g. Discounts don’t move the market but there is a key group of people is still buying - for a new need - Your selling motion is obsolete – for them Fodder…. OLD You no longer have pipeline-market fit – What worked great before in a stable market - Your old pipeline - no longer applies to a disrupted market Pipeline logic/activities for old buying => Wasting your team time with non-buyers Discounting will not earn you more business …. You are selling the wrong solution/need to the wrong people Old buyers are wrong
- Need to adapt/revamp - quickly: selling motion - target/prospecting, pipeline rules, value prop engagement To the (different types) people buying – What should the motion be? You are running out of time to fix it BUT – to what!!?!?!?!? Need to know the key ‘tells’ .
- Potently big Payoff Focus on narrative – after decades, at MSFT working on V1 - – wanted to engage market to know what to build for the future, not what it has been, not where it is now, - were it was going Breadth and depth of research Normally great rewards Best place now
- Concentrated – ½ the $’s, value buyer, skills at risky stuff
- New place your team ONLY engaged the 10% of people that buy - now Your have a compelling offering (for them) now- that fits their new needs You’re positioned to lead the masses out of the recovery - with a proven/refined offering / new pipeline The mass-market will be NEW/different - because of disruption/innovators, market is not going back to pre-disruption
- Are different – challenge to find - if you don’t know what to look for they have different needs
- Not many buyers 1. Different types of people w/in the same market/demographic 2. There are 3 types of people - when it comes to buying in a disrupted market: Crazy–optimistic: small group - that love/chases anything new, novel – 85% wrong Frozen masses – 75%+ that use the proven, "following taillights" – waiting for someone to prove the way out – only make low risk buy – no such thing Pragmatic, opportunist pioneers: disruption is an opportunity and have the risk-management skills to take advantage of it 3. Gateway Buyers - Unique – in a good way are the 3rd group: the best people to engage now. Small group of diligent pioneers. They adapt/drive breakthrough - proving new paradigm that the mass market follows. Just imagen – you knew their signature “tell” and know how to fulfill their (new) needs/requirements
- Hard to find GB are NOT demographic GB’s are a psychographic (w/in a demo) You can find them – if you know what to look for – their relationship with risk
- Hard to find GB are NOT demographic GB’s are a psychographic (w/in a demo) You can find them – if you know what to look for – their relationship with risk
- They have a unique combination of (3) traits regarding their relationship with risk Know this from rigorous big-data analytics - we know that there is a combo of 3 traits that set them apart 4 questions you can use to find them. [NO DETIALS] You need to act on them – make this part of your selling motion yes, it will be a change/hard
- You can engage Gateway Buyers with a winning offer. Be set up for success
- Adapt your selling motion your prospecting (approach) to ONLY find and engaged the 10% of people that buy - now Manage opportunities - Forecasting real buyers Tailor a compelling/winning offering (for them) now- that fits their new needs
- Be set to lead… Can lead the masses with proven Once proven – you are set to adapt to the new “normal” selling motion
- Dedicated career to researching and creating unique ways to get you where you want to go, fast. I HATE wasted creativity.
- How – We adapt to create a winning selling motion and offering for Gateway Buyer, in weeks, not months, (w/Bootcamp or consulting) Adapt your target and prospecting motion – to refill you pipeline with high probability opportunities - become the analyst Create a selling motion (proves ) for GB’s - the right people Be positioned to sell proven solution (‘way out’) to the masses when market recovers
- 5 – give way out - I have 5 slots – for consult – deadline
- Instead of flailing along with fast iteration - hoping you blunder on to one of the 1 in 9 early adopters – that give you proper feedback – jump to the right group
- Stories – Office API – feedback by each role – councils Env.&CSi – Startup – ID DM’s 1/3rd of road map New markets – SME’s w/ Elevator pitch
- They have a unique combination of (3) traits regarding their relationship with risk Know this from rigorous big-data analytics - we know that there is a combo of 3 traits that set them apart 4 questions you can use to find them. [NO DETIALS] You need to act on them – make this part of your selling motion yes, it will be a change/hard
- Pivot and sell to the only buyers in the market right - now
- How – We adapt to create a winning selling motion and offering for Gateway Buyer, in weeks, not months, (w/Bootcamp or consulting) Adapt your target and prospecting motion – to refill you pipeline with high probability opportunities - become the analyst Create a selling motion (proves ) for GB’s - the right people Be positioned to sell proven solution (‘way out’) to the masses when market recovers