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Buildings Don't Write Checks: A Predictable Pipeline Approach

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This is a sample of how we teach (vs pitch) in prospect pitch meetings. To read the full contact, search "Heinz Marketing how not to pitch at pitch meetings" in Google.

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Buildings Don't Write Checks: A Predictable Pipeline Approach

  1. 1. @heinzmarketing Buildings Don’t Write Checks How to develop customer trust and commitment in a digital age A Predictable Pipeline approach for PROSPECTX Matt Heinz Founder & President, Heinz Marketing Inc Presented November 30, 2017
  2. 2. @heinzmarketing Agenda • Your objectives & targets • What’s broken & what’s working in B2B today • The Predictable Pipeline process • The path forward to results • A little about Heinz • Q&A
  3. 3. @heinzmarketing The “why” • $XXXM in sales in 2018 • “Round the buoy” into 2019
  4. 4. @heinzmarketing The “who” • Organizations • More than 100 IT employees • Individuals • Decision makers: CIO/CTO, CLO? • Stake holders: Directors of IT with training responsibility • Influencer: Corporate trainers, HR leaders with training responsibility • Buying Committee • ??
  5. 5. @heinzmarketing Math comes first (sample model) 5 Assumptions Meaghan ASP $65,000 Jennifer ASP $75,000 John ASP $80,000 Opp/Close % 25.0% Lead/Opp % 5.0% Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Meaghan Sales # 1 1 2 3 2 4 Jennifer Sales # 1 2 2 2 2 2 John Sales # 1 1 1 1 2 1 Total Sales # 2 3 4 5 4 7 Meaghan Sales $ $65,000 $65,000 $130,000 $195,000 $130,000 $260,000 Jennifer Sales $ $75,000 $150,000 $150,000 $150,000 $150,000 $150,000 John Sales $ $75,000 $75,000 $75,000 $75,000 $150,000 $75,000 Total Sales $ $215,000 $290,000 $355,000 $420,000 $430,000 $485,000 Meaghan Pipeline # 4 4 8 12 8 16 Jennifer Pipeline # 4 8 8 8 8 8 John Pipeline # 4 4 4 4 8 4 Total Pipeline # 12 16 20 24 24 28 Meaghan Pipeline $ $260,000 $260,000 $520,000 $780,000 $520,000 $1,040,000 Jennifer Pipeline $ $300,000 $600,000 $600,000 $600,000 $600,000 $600,000 John Pipeline $ $300,000 $300,000 $300,000 $300,000 $600,000 $300,000 Total Pipeline $ $860,000 $1,160,000 $1,420,000 $1,680,000 $1,720,000 $1,940,000 Meaghan Leads 80 80 160 240 160 320 Jennifer Leads 80 160 160 160 160 160 John Leads 80 80 80 80 160 80 Total Leads 240 320 400 480 480 560
  6. 6. @heinzmarketing Why is selling so hard today?
  7. 7. @heinzmarketing What has changed?
  8. 8. @heinzmarketing Five customer changes impacting your success
  9. 9. @heinzmarketing Your customers are: 1. Busier than ever
  10. 10. @heinzmarketing Your customers are: 1. Busier than ever 2. Self-educated
  11. 11. @heinzmarketing When do they call you?
  12. 12. @heinzmarketing Your customers are: 1. Busier than ever 2. Self-educated 3. Skeptical 4. Distrustful 5. Jaded 6. A lot like you!
  13. 13. @heinzmarketing So what IS working today?
  14. 14. @heinzmarketing 4 lessons from The Challenger Sale
  15. 15. @heinzmarketing 1. How you sell is more important than what you sell
  16. 16. @heinzmarketing 2. Challengers teach, tailor & take control
  17. 17. @heinzmarketing 3. The value of your insights trumps the quality of your product
  18. 18. @heinzmarketing 4. Be memorable, not agreeable
  19. 19. @heinzmarketing How do you break through?
  20. 20. @heinzmarketing The Five Foundations of Customer Commitment 1. Attention 2. Interest 3. Trust 4. Interaction 5. Engagement
  21. 21. @heinzmarketing The buyer’s journey
  22. 22. @heinzmarketing Predictable Pipeline Development Framework Target Market Sales Cycle Team Message Reach Enabling Technology Metrics of Success Segments, accounts, personas, qualification criteria, list building Length of time, number of meetings, decision process, buyer journey, deal size (how people buy) Roles and responsibilities, skills structure, hand-offs, prospecting->engagement->closing->onboarding “Point of view”, value proposition, subject matter expertise (need/outcome), trust validation Phone, email, social, IRL, events. The playbooks and outreach flows to contact prospects. Contact details, automated outreach/nurture, deal tracking Contacts created, leads generated, opportunities created, connect rates, conversion rates, revenue contribution
  23. 23. @heinzmarketing Initial Ad-Hoc Defined Managed Optimized Target Market Lack of clearly defined target market and Ideal Customer Profile (ICP), no personas Limited/assumption-based approach to market/customer. Limited to no qualification criteria defined Ideal Customer Profile defined, personas defined and articulated Known accounts, defined and agreed to qualification criteria, defined and confirmed personas Iterative approach to target account identification, dynamic personas, qualification criteria drives targeting Sales Cycle No known or defined repeatable approach Ad hoc approach & understanding of how customer buys Understood time and decision making process, friction remains Known and articulated buying journey, enablement focus Selling process aligned with buying process, all known friction removed Team Undefined roles and responsibilities, no skills mapping/development Major functional roles defined, high churn, low performance Roles, responsibilities, and competency profiles defined and operational Responsibilities and hand- offs known and operational, team is performing Aligned team structure, career path and skill milestones Message No unified message and/or compelling value proposition Confusing and disorganized message, no consistency and company-centric Defined messaging and positioning mapped to audience, speaking to market and needs vs. feature/benefit Content editorial calendar in place, major trust validation content in production, defined industry “point of view” Versioned strategic messaging framework approach, content editorial calendar speaks to customer need/outcome Reach One-off bulk emails, direct ask outreach “Every person for themselves” with no coordination Sales playbook(s) in place but used for reference vs. execution Coordinated efforts among email, phone, online, offline channels Integrated and executed outreach “plays” across channels Enabling Technology Limited to no real technology in place. Basic email, phone, spreadsheets Individual purchase decisions drive technology, low utilization, no integrated plan Major categories purchased and in place, some coordination among teams All current tools configured and utilized to justify expenditures Technology aligned with process, approach in place to test new tools Metrics of Success Random and inconsistent measurement Individual teams and contributors track and promote their metrics Major categories tracked but bias towards actions vs. outcomes Alignment around creating opportunities and revenue contribution across all activities Full funnel measurement and accountability Predictable Pipeline Maturity Model
  24. 24. @heinzmarketing Establish the Foundation - Personas • Develop “Pathological Empathy” – get out of the company-centric world! • Who are your primary personas – prioritize to focus content development • Companies are made of people – consider group dynamics • Multiple people will likely influence, decide on, and ultimately use or be impacted by your solution. • Decision makers, stake holders, influencers, end users • Attributes, motivators and concerns Department Head Primary Business UserDecision Maker
  25. 25. @heinzmarketing Persona Framework Decision Maker How I Buy Concerns Decision Factors Questions Desired Outcomes How they research, evaluate, lead Identify motivators based on performance, reputation, success What matters the most? What areas are negotiable tradeoffs? What’s the long term value and impact? Will we be successful? Can we trust the vendors? The vision for success
  26. 26. @heinzmarketing Motivational Framework Workbook – pg9 Customer Journey Stage Not In Market Stimulated Inquiry Problem Identified Research Solutions Evaluation Decision Journey Stage Mindset Status quo works Needs evolving Status quo pains Opportunities emerge Desire to define problem Active vendor research Focus on desired outcomes Anticipating positive change and achieving vision Journey Stage Actions & Behaviors Irregular market research Peer networking Informal info gathering and research Push internal fixes for status quo to work better Internal assessment or audit Consensus building to change Desire to define requirements & needed capabilities Extensive internal assessment Review internal dev or third party solution Pricing inquiry Ask for referrals Research reviews Trial evaluations and bake-off Vendor matrix mapping to internal requirements Committee reviews RFP options Negotiate purchase terms Internal mobilization for next steps Next Stage Catalyst Status quo problem emerges Lost business, cost increases Who can help fix the problem? Share requirements & RFP with vendors Confirmation that final vendors support desired outcomes Content Topic Suggestions • Industry trends • Surveys • Case Studies • Interviews • Innovation guides • Self-assessment tools • Analyst reports • Step by step business impact analysis • Thought leadership • Evaluation guides • ROI tools • Customer reviews & success stories • RFP tools • Sales content • Proof of concept • Customer stories
  27. 27. @heinzmarketing Buying Committee Mapping • Marketing usage: general committee model for market segments • Long standing approaching to strategic account planning • Create models for your market segments • Industry • Company size • Solution • Book Resources: • Full Funnel Marketing – Heinz Marketing • The New Strategic Selling – Robert Miller
  28. 28. @heinzmarketing Integrated Campaign Example Cold Outreach • All prospects • Owned by Marketing Give, Give, Get • Clicks from above • Opens from above • Balance from above • Owned by Sales or Marketing Action Required • Offer acceptance from above • Add to pipeline • Owned by Sales 1. Company Intro 1. Personal Intro 1. Deliver Offer/Schedule Call 2. Relevant Experience 3. Unique Point of View 2. Helpful Content 3. Direct CTA • Need/Outcome • Credibility • Trust Validation • Need/Outcome • Credibility • 1x1 • Relevant to them/you • Soft CTA • Demo, discussion, assessment • Whatever is first step of sales engagement • Webinar invite • Passive engagement ~2 weeks ~2 weeks 2 days 3 days 2. Schedule Call follow up 2 days 3. Schedule Call follow up 2 days
  29. 29. @heinzmarketing Practicing the OODA Loop
  30. 30. @heinzmarketing Seven quick words about Heinz Marketing • Values • Track record • Team • Sales orientation • Results
  31. 31. @heinzmarketing Our Predictable Pipeline Model Outsourced Execution Strategic • Market – landscape, segments, buyer journey • Message – value proposition, positioning • Offering – product/service definition, packaging, pricing • Measurement – performance metrics, attribution (MPM) • Team – roles & responsibilities, incentives & compensation, productivity & efficiency Programmatic • Campaigns – lead generation, events, inbound marketing, account-based marketing, SEO, social, influencer marketing, inside sales • Content – leverage existing, create new, custom research, custom events, amplification • Technology – Marketing automation (Marketo, Eloqua), Attribution (Bizible) Results • More Qualified Leads • New Sales Opportunities • Higher Conversion Rates • More Closed/Won Deals • Performance Improvement • Incremental Revenue Advisory
  32. 32. @heinzmarketing High-level potential timeline • December: • Persona & buying committee development • Messaging framework development • January: • Sales enablement kit developed • Marketing campaigns developed & launched • February-forward: • Execution, optimization, scale
  33. 33. @heinzmarketing Thank you! Matt Heinz President, Heinz Marketing @heinzmarketing matt@heinzmarketing.com

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