Sales has-changed! How the Modern Buyer Has Changed The Sales Process
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Presentation (Webinar) on how the modern buyer has changed due to their ability to get information on the internet. Because of this, they control the sales process. Marketing and sales organizations need to change to respond to this.
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Sales has-changed! How the Modern Buyer Has Changed The Sales Process
- 1. SALES HAS CHANGED: How the Modern Buyer Has Changed the Sales Process A Presentation by BlueBolt
- 2. Introductions: Chris from BlueBolt Chris Risner Chief Strategy Officer @cdrize Role: Chris will be presenting the webinar. Bio: Chris is the Chief Strategy Officer at BlueBolt. His role is to guide BlueBolt’s marketing, assist with sales, as well as advise with finance, business strategy, and strategic partnerships.
- 3. Webinar: Housekeeping Ask Questions at Any time – we will come back around at the end Recording and Slides will be made available with 24-48 hours and emailed to everyone
- 4. Defining the Modern Buyer New Method of Selling to the Modern Buyer KeyTakeaways / Recap Question &Answers Personalization Webinar: Agenda
- 5. Defining The Modern Buyer
- 6. Buyer Behavior: A Trip Down Memory Lane • Buyer: Relatively uninformed • Buyer Journey: Linear • Sales Playbook: Interrupt (cold calls and advertising). • Buyer: Well-informed • Buyer Journey: Fluid and random (starts with Google) • Sales Playbook: Being defined. PRE- INTERNET: TODAY:
- 7. Buyer Behavior: The Internet Has Changed Humans • Everyone is an expert • Product research • No salesperson required
- 8. Personalization: Generic Doesn’t Cut It
- 9. Personalization: One Size Does Not Fit All
- 10. Personalization: Generic Doesn’t Cut It Visitors are increasingly willing to give up info for it! 56% of consumers are OK with providing personal information on a website as long as its for their benefit & used in responsible ways. Janrain & Harris Interactive This increases to 63% for millennials, which means that the overall number will continue to climb in the future. Salesforce State of the Connected Customer Survey 2016
- 11. Personalization: Focus on Quality Content
- 12. New Method: Inbound Works! 54% more leads are generated by inbound tactics than traditional paid marketing. 2x as many marketers say inbound delivers below average cost per lead than outbound methods. $20k is the average companies save per year by investing more in inbound marketing vs. outbound.
- 16. Sales: Let’s Talk about Sales
- 17. Two-thirds of consumers say that they are likely to switch brands if they are treated like a number instead of an individual 89% of business buyers agree they expect companies to understand their business needs and expectations. Salesforce State of the Customer Survey 2016 Personalization: Why It is Important On the flipside - IgnoreWebsite Personalization at your own Peril
- 22. Sales: Legacy Sales A legacy sales process is centered around the way salespeople sell, instead of how people buy
- 23. Sales: Legacy Sales “Today’s sales organizations must shift from trying to control their internally driven sales cycle and truly embrace the new customer-driven buying cycle - otherwise, prospects will eliminate you from their consideration list and buy from your competition.” TIFFANI BOVA, Salesforce Global, Customer Growth and Innovation Evangelist
- 25. New Method Of Selling to the Modern Buyer
- 26. Buyer Shift: Salesman not Always Needed
- 28. Inbound: The Methodology It takes 18 dials to connect with a single buyer. Call-back rates are <1% The average sales development rep makes 52 calls daily. You are 4.2X more likely to get an appointment if you have a personal connection with a buyer Leads responded to within 5 minutes are 100x more likely to be qualified.
- 30. Inbound: The Methodology • The Internet’s rise in prominence has caused a shift in power from the salesperson to the buyer. • Inbound Sales is about transforming selling to align with today’s empowered buyer.
- 31. Inbound: The Methodology Figure Out Who They Are, What They Are Searching For, & How You Can Add Value.
- 33. Inbound: The Methodology Sales productivity is paramount to enabling a company to grow
- 34. Inbound: The Methodology • Search Engines • LinkedIn • Facebook • Twitter • RSS Feeds
- 36. Inbound: The Methodology Identify Connect Explore Advise
- 37. Phase 1: Identify Find Your Buyer: • Visited your website • Filled Out a Form • Opened an Email
- 38. Phase 2: Connect Reach Out To Your Buyer: • Blogs • LinkedIn • Twitter Build trust and authority
- 39. Phase 2: Connect (Twitter Tip) • Understand what interests them – hobbies, business issues/challenges, etc • What questions are they asking (issues/challenges)? • What questions have they answered (expertise)? • Researching your prospect’s industry/market. Are there any trends? What are people talking about? • Leverage search.twitter.com
- 40. Phase 2: Connect (Lead Intelligence) •What pages have they seen? •What content have they downloaded? …Note any trends •Social Media Intelligence •Custom Lead Grade
- 41. Phase 3: Explore Leverage Initial Buyer Interest: • Exploratory conversation • Leverage information gathered during Identify and Connect stages • Uncover buyer goals
- 42. Phase 4: Advise Be The Trusted Advisor: • Tailors presentation • Works with buyer to develop purchase timeline • Knowledge transfer to post-sales • Checks in with buyer after sale, continues relationship
- 43. Inbound: Comparison Unaware of which buyers are active in a buyers journey Use cold outreach; lead with generic elevator pitch to qualify a budget Transition into presentation mode when a buyer expresses interest Deliver the same presentation every time and offer discounts to get buyers to purchase on seller’s timeline Prioritize buyers that are active in a buying journey Build trust by participating in the buyer’s online conversations; lead with personalized messaging and advice based on buyer’s interest Transition into exploration mode when a buyer expresses interest Personalize the presentation to each buyer and adjust the sales process to the buyer’s timeline Inbound SalespeopleLegacy Salespeople
- 44. Inbound: The Methodolgy • Listening • Diagnosing • Prescribing
- 45. Inbound: The Methodolgy It all comes back to Knowing who they are, What they are searching for, & How you can add value.
- 47. Personal Info Follow up Chris Risner at BlueBolt – crisner@blueboltsolutions.com
- 48. Learn More We will send an email in the next 24-48 hours with links to the webinar replay as well as the presentation itself
- 49. THANK YOU FOR YOUR TIME!
Editor's Notes
- START OF SCRIPT: Today we are going to focus on how the modern buyer has changed the sales process and how the sales process is being redefined.
- Before the internet, buyers were relatively uninformed. [CLICK FOR ANIMATION] The buyer’s journey was pretty much a straight shot that was triggered when a buyer recognized a need. [CLICK FOR ANIMATION] Now, the trigger can be random and the buyer can conduct his or her own personal research. PRO TIP: Work in your own personal example if you have one of a pre-internet purchase you made, and the steps you took to make that purchase, and compare it to a purchase you made recently. Don’t spend a lot of time on this topic, but enough to show that there is a big difference in the sales process.
- Due to the Internet, the modern buyer is no longer dependent on salespeople to access the information necessary to make a purchase decision. If the modern buyer has a need for a product or service, they can get all of the answer to their questions online. They can research competitor information, reviews and easily find and interact with others who have already made the purchase. They could reach the decision stage of their buyer’s journey, all without every contacting or speak to a salesperson.
- The modern buyer is used to personalization. Companies such as Netflix and Amazon made it the norm to know what the consumer is doing. They track what the consumer is viewing and purchasing and offer suggestions based on their likes and interests. Not only does this keep the consumer engaged with their product, but it keeps them coming back… and not cancelling their subscription!
- One size does not fit all for the modern buyer. They expect you to know who they are, and provide value to their buyer’s journey. Marketing has accounted for the change in the modern buyer and has updated it’s efforts accordingly.
- [CLICK FOR ANIMATION] Marketers have made quality content their focus and are always working to create content that pulls people towards their product and company.
- Since it’s inception in 2006, the Inbound Marketing methodology has helped marketers create and deliver content that will appeal to precisely the right poeple, in the right places at the right times. This makes marketing relevant and helpful to the modern buyer. And it gets results. PRO TIP: Insert your own work and metrics to show that inbound marketing makes a difference and gets results. http://www.hubspot.com/marketing-statistics
- The inbound marketing methodology focuses on marketing that [Click for animation] Attracts strangers and makes them visitors. [Click for animation] Converts Visitors into Leads [Click for animation] Closes Leads into Customers [Click for animation] And Delights Customers so they become Promoters This was a fundamental shift from outbound marketing efforts, but it has proven to be an effective way to turn strangers into customers and promoters of your business and it’s 100% catered to the modern buyer.
- Marketers have made improvements to the marketing funnel based on the modern buyer. [CLICK FOR ANIMATION] We don’t want just any traffic to our site, we want the right traffic. [CLICK FOR ANIMATION] By implementing the inbound marketing methodology, marketers are able to attract the right kind of prospects/visitors to our sites through blogging, SEO, optimizing website pages, and social publishing. [CLICK FOR ANIMATION] Once we have attracted website visitors, the next phase of the funnel is to convert those visitors into leads by gathering their contact information. [CLICK FOR ANIMATION] By setting up forms, calls to action, landing pages and a centralized database we have a way to convert visitors into leads that does not disrupt the modern buyer’s journey and allows us to capture their information and learn more about who they are.
- Marketing has taken the first step in evolving their methodology to better connect to and atrract the modern buyer.[CLICK FOR ANIMATION] Successful inbound marketers know they need to map out and deliver content based on the modern buyer’s journey. As a result, 3 out of 4 marketers across the globe prioritize an inbound approach to marketing. And inbound campaigns achieve higher ROI than outbound campaigns. [CLICK FOR ANIMATION] Now it’s time for sales to step up. Sales needs to question and reassess their current practices and evolve to meet and surpass the modern’s buyers expectations.
- So, let’s talk about your sales team’s current efforts for a minute.
- Are they cold calling and leaving cold voicemails? Prospecting has changed… fewer people have phones on their desks and every phone now has caller ID.
- Are they relying on mass emails? I know personally my inbox is filled with mass emails I delete without opening. PRO TIP: For the next few slides, sprinkle in facts from the Appendix to highlight the ineffectiveness of these outbound sales tactics.
- Is your sales team attending trade shows as a way to meet new prospects and gain new leads? Ask yourself, how many of the hundreds or thousands of people at tradeshows can your sales reps actually meet and engage in productive/qualifying conversations?
- Is your sales team giving the same generic presentations over and over? When was the last time that you made significant changes to your presentations?
- These are all legacy sales processes… legacy sales is centered around the way salespeople sell rather than how people buy.
- Salesforce evangelist Tiffani Bova hit the nail on the head when she said “today’s sales organizations must shift from trying to control their internally driven sales cycle and truly embrace the new customer-driven buying cycle – otherwise, prospects will eliminate you from their consideration list and buy from your competition.”
- Legacy sales methods need to be revamped. It’s time for your sales efforts to match your marketing efforts, otherwise your will be removed from the modern buyer’s equation. You need to think about the modern buyer and evolve your sales efforts to meet and surpass their expectations
- Here’s a fact… the modern buyer does not always need a salesperson to make a purchase. There is a shift in the way buyers buy that we need to account for, a changing of the tides. We must evolve our efforts accordingly, or our businesses will suffer.
- We know that our friends in marketing have evolved to better connect to the modern buyer. We’ve heard the inbound marketing methodology is 10 times more effective for lead conversion compared to outbound methods. So, what if there was a way to take the lessons learned from inbound marketing and apply them to the sales process.
- What if there was a new way of prospecting? What if you could proactively combat the issues and known roadblocks your sales team faces when trying to connect with the modern buyer?
- The answer is here and I am pleased to introduce you to the Inbound Sales Methodology – the new sales playbook.
- The Inbound Sales Methodology accounts for all of the changing factors of the modern buyer and is all about transforming the way we sell to align with today’s empowered buyer. Yes, the buyer has all of the control, not us. It’s a hard pill to swallow no matter what department you work in, but once sales realize this it makes all of the difference. Pro Tip: insert your inbound sales certification badge on this slide if you have one! If you don’t yet have it, we strongly encourage you to take and pass this training before hosting this webinar. It will give you an extra boost of credibility! Find out more information here: http://www.hubspot.com/sales/inbound-sales
- Sales, not just marketing, [CLICK FOR ANIMATION] need to figure out who the buyer is, what they are searching for and HOW THEY CAN ADD VALUE to their buyer’s journey. This is the foundation of the inbound sales methodology. It’s all about using data and insight to add value to the prospect’s buyer’s journey.
- But that sounds like a lot of work and sales needs to hit their quota. They don’t have time for this, right?
- Well… the current industry trends and analysis tell us that change is necessary. Forbes Insights and Brainshark found that C-Level executives in particular, know that sales productivity is paramount to enabling a company to grow – 71% rank it as of critical importance.
- Sales teams can’t afford not to adopt the sales inbound methodology. The screen shows just some of the places the modern buyer goes to conduct product research online. The modern buyer can get information about your product, competition, price right from your website… they can even purchase from your site some of the time... So why do we even need sales people?
- The goal of the inbound sales methodology [CLICK FOR ANIMATION] is for the salesperson to become the buyer’s Yoda. The salesperson has to position themselves as a trusted advisor… they need to add value, become a leader in their space and anticipate the buyer’s next move so that the buyer trusts the salesperson, just like Luke trusted Yoda. And if you follow the inbound sales methodology, you will become a sales Yoda in no time. PRO TIP: We decided to use this super cheesy Star Wars reference because it works and it is fun. But we want you to bring in your own creative flair here. Do you have any examples of how this has worked for your company or one of your clients? If so, use it. Promoting this webinar to a very specific vertical like healthcare, IT or manufacturing? Use an example that is pertinent to them. Follow our logic, but insert your own story, where you can make references that your audience can easily follow. This will help them better comprehend how the inbound sales concepts you are sharing could work for them.
- The inbound sales methodology is broken down into four stages. [CLICK FOR ANIMATION] Identify, Connect, Explore and Advise. [CLICK FOR ANIMATION] We will talk about each stage at a [CLICK FOR ANIMATION] high level and show how sales can leverage insights in order to connect with the modern buyer.
- The easiest way to identify who you ideal buyers are is to set up workflows that will alert sales when a stranger has visited your website, filled out a form, or opened an email. This doesn’t completely replace your current sales strategy. For example, I’m not suggesting that you shouldn’t research and create a target accounts list. You should be pro-active. But, an inbound sales strategy, content should be used as a conversation point and should be leveraged to increase your connect rate with these target accounts.
- You have identified leads, so now you know your potential buyers. Find out what blogs they are reading, what LinkedIn groups they belong to, what thought leaders they are following on Twitter. Retweet, guest blog… anything to position yourself as a thought leader in the space. And when connecting with the buyer, always lead with a message personzlied to the buyer. You can refer to the buyer’s industry, role, interests, cmmon connections, etc. Offer advice around the buyer’s interests and specific goals. The goal here is to build trust and authority. You can really start to qualify leads in this stage of the sales methodology. Do your research on social media: Some things to consider and research: What is the buyer’s role in the company? How long have they been at the company? Did they come up through marketing or sales or product? Who is their boss? Do you know anyone at their company? What are their interests? Where did they go to school? What groups are they part of? What influencers are they following? What is their favorite quote, show or movie? Do they have any children or pets? Where do they like to go on vacation? The point is to research them as a person, rather than just a person at the company so you can connect with them on a personal level. Let’s dive deeper into a few tactics you can leverage in this phase.
- Many people discount Twitter but we at [INSERT YOUR AGENCY NAME] see it as an excellent person, market, and industry research tool. Unlike LinkedIn, which is heavy business focused, Twitter can give you insights into their personal interests, their hobbies, and what burning questions and issues they are they dealing with. Your prospect is asking questions on Twitter or possibly also answering other member questions. Other ways you can use Twitter include understanding what your competition is up to. You can go to search.twitter.com and enter your competitor and it will list what questions they are asking and who are interacting with them. You can also do localized search on twitter. For example, you are looking to find prospects who are in healthcare and in Boston. You can go to search.twitter.com and enter “healthcare Boston” and you can find people in the Boston area who specialize in healthcare.
- Outside of social media, there are also ways you can see the whole picture for every lead, and connect every tool your team uses – social and more. Tools like this pull in social intelligence, but also answer questions such as – What web pages of mine have they seen? What content of mine have they downloaded? Note any trends or niche areas What is their lead score in comparison to my other leads? PRO TIP: Feel free to use these images. Ashleigh is a member of the HubSpot agency partner marketing team and we have blocked out contact information. Please note there is an animation on this slide. Or you can insert your own images here!
- Next is the EXPLORE phase, you want to leverage initial buyer interest to develop additional trust and uncover deep buyer goals through exploratory conversation. You will have to create exploratory call guides based on your personas for your sales team to leverage, and once you do, they can use the guides during their explore phase. This phase is used to determine whether this person is a good fit or a bad fit customer (Luke Skywalker or Darth Vador if you will). During the explore phase you can work in unique product or service differentiators to help the buyer understand how your service/product can help solve their particular pain points and reach their goals.
- During this phase of the inbound sales methodology, you need to tailor your assets to the buyer’s persona and leverage all of the information you have gathered from the exploratory call. This means tailoring presentations that align product value with the buyer’s needs, and using terminology the buyer knows and can relate to, or conducting a product demo that illustrates 3 features important to the buyer, in order of importance to him or her. Or you could even run an ROI analysis customized to the buyer’s metrics and business. The key is to let the buyer know you have done the work on your end and make them feel that you are adding value to their journey. You have recognized that the buyer is a good fit for your company and you are helping the buyer understand why you are uniquely positioned to help them. By this stage, Inbound salespeople have developed a relationship with the buyer, so they can get honest answers from them. They can figure out the buyer’s timeline and work backwards to create a plan to meet the deadline. And after the sale, the relationship does not end. The inbound salesperson transfers all of his or her knowledge to the post-sales team and checks in with the buyer every now and again to help ensure their continued success.
- I know this is a bit of an eye chart, but take a moment to consider the differences between legacy salespeople and inbound salespeople. We will send the recording and a PDF of the slides out after the webinar today so you can review this in more detail.
- The sales process no longer about interupting, pitching and closing. It’s about leveraging the inbound sales methodology and listening, diagnosing and prescribing.
- The inbound sale methodology is a path for sales teams to follow to figure out who their buyers are, what the buyer is searching for and is there to help them identify how they can add value to the buyer’s journey.