Re:Engage: Accelerating Sales Pipeline w/ Marketing's New Dynamics

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According to an IDC study, nearly 57% of B2B prospects and customers feel that their sales reps are not prepared for the first meeting. And more than 1/3 of deals are lost due to circumstances within a reps control.

Why?

Originally presented at the Arizona Technology Council CEO Summit in August 2013, this presentation takes an in-depth look at the effect of marketing's "always-on" dynamics as a result of the web and social media, and how they've impacted the B2B sales cycle.

Topics include social media, lead generation and lead nurturing, marketing automation, sales enablement, search engine optimization, mobile marketing, and much more. Plus some great statistics from IDC, Google and several other B2B sales and marketing research reports.

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  • New buyers operate independently. They have their own devices, blogs, communities, forums, and peer networks. They are now capable of getting much of what they need for their journey through their buying process without regard for a vendor's marketing and sales cycles.
  • Instead of the sales-centric orientation of the past, today's customer creation process must put the buyer front and center. Vendors must act like a concierge, providing services that guide buyers through their "buyer's journey.”Buyers desire value. Obtaining value far outweighs the influence of relationships or even cost. However, delivering value to IT buyers is an art that requires an understanding of how context changes the perception of value.
  • Instead of the sales-centric orientation of the past, today's customer creation process must put the buyer front and center. Vendors must act like a concierge, providing services that guide buyers through their "buyer's journey.”Buyers desire value. Obtaining value far outweighs the influence of relationships or even cost. However, delivering value to IT buyers is an art that requires an understanding of how context changes the perception of value.
  • Buyers desire value. Obtaining value far outweighs the influence of relationships or even cost. However, delivering value to IT buyers is an art that requires an understanding of how context changes the perception of value.Value = balance of quality, risk and cost.
  • Most of the leading sales methodologies in use today will help ensure that your sales teams are addressing these key issues along the buying process
  • Most of the leading sales methodologies in use today will help ensure that your sales teams are addressing these key issues along the buying process
  • Re:Engage: Accelerating Sales Pipeline w/ Marketing's New Dynamics

    1. 1. Re:Engage Accelerating Your Pipeline through Marketing’s New Dynamics
    2. 2. © 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview 57% of B2B customers feel that their sales reps are not prepared at the first meeting. 33% of deals are being lost because of circumstances within your reps’ control
    3. 3. Why?
    4. 4. 1980’s – 1990’s: Calls & Closes More Calls = More Leads = More Wins © 1992 New Line Cinema
    5. 5. 1990’s – 2000’s: Process, Integration, Insight Know the Process, Work the Process, Build the Pipeline
    6. 6. We were in control.
    7. 7. Then cracks started to show.
    8. 8. Relationships with our reps no longer guarantee consideration. 21% 15% 35% 24% 4% 48% 32% 10% 18% 11% 0% 10% 20% 30% 40% 50% 60% 2nd Choice 1st Choice Top 2 Consideration Factors in a Complex B2B Sales Cycle Source: 2013 IDC Sales Enablement Overview
    9. 9. Buyers started having…and using…more options. Source: B2B Content Marketing Report, Holger Schulze, 2013
    10. 10. They turned from buyers into researchers. Source: 1999 20th Century Fox
    11. 11. Work is now a state of mind. It's imperative to understand their motivations, emotional attitudes and levels of satisfaction with round-the-clock, all-device messaging. Source: 2013 gyro “The At-Work State of Mind Project”
    12. 12. Customers Suppliers Co- Workers Family Friends Personal Networks Social Networks Review Sites/Blogs Buyer
    13. 13. Work goes home… home goes to work. Source: 2013 gyro “The At-Work State of Mind Project”
    14. 14. We’re living in a four-screen world.
    15. 15. It Created a Huge Challenge Source: 2013 gyro “The At-Work State of Mind Project”
    16. 16. Self-Directed Decision Making Prospects/customers started to delay purchasing conversations with suppliers. Due Diligence Begins First Engagement w/ Sales We’ve All Heard It: Purchase 57%-70%
    17. 17. Buyers have taken control.
    18. 18. Oh sh*t.
    19. 19. Consider the way a car is purchased today.
    20. 20. It’s no longer simply about “what” you sell, but “why” and “how” you sell it.
    21. 21. 78% Feel that a brand’s reputation is very important when looking for business products/services. Source: Google B2B Customer Study, June 2012 (n=629)
    22. 22. Knowing Your Passion Knowing Me“Why”
    23. 23. “Today, B2B sales and lead generation are about your brand assets, thought leadership and emotions built from the vast amount of information that prospects now have access to.”
    24. 24. You create it. Culture gives it purpose. Marketing enables it. Sales turns it to revenue.
    25. 25. So…what now?
    26. 26. Step 1: Stop passing the baton.
    27. 27. CIO Peers CIOs C-LevelsIndustry Influencers Competitors ProvidersExperts CEO Investors Board Analysts C-Level Peers Lines of Business Channels Partner Suppliers Customers IT Department Competitors Providers Peers Help me enable the business. Help my team be better. Help me align and deliver. Help me make good decisions.
    28. 28. Customers Suppliers Co- Workers Family Friends Personal Networks Social Networks Review Sites/Blogs Buyer
    29. 29. Prospects/customers started to delay purchasing conversations with suppliers. Due Diligence Begins First Engagement w/ Sales Alignment Purchase 57%-70%
    30. 30. “Revenue Marketing”
    31. 31. Step 2: Obsess Over Value.
    32. 32. Price ≠ Value
    33. 33. Relationships with our reps no longer guarantee consideration. 21% 15% 35% 24% 4% 48% 32% 10% 18% 11% 0% 10% 20% 30% 40% 50% 60% 2nd Choice 1st Choice Top 2 Consideration Factors in a Complex B2B Sales Cycle Source: 2013 IDC Sales Enablement Overview
    34. 34. 43% of IT buyers are willing to change vendors to save time. Source: 2013 IDC Sales Enablement Overview
    35. 35. 21% 16% 14% 14% 12% 10% 5% 13% 16% 18% 18% 6% 14% 1% 0% 5% 10% 15% 20% 25% Business Leader IT Leader Most Valued Vendor Content During the Decision Process (n=50) Source: 2013 IDC Sales Enablement Overview
    36. 36. "First asked what problem we were trying to solve… didn't start with a solution.” "Provided a good demonstration of the product.” "Went the extra mile to understand my needs and those of my customers. That led to excellent communication and accurate quotes.” ”Took me through examples of other companies using the solution and sent links and examples of independent research and reviews from companies with similar issues.” "Follow-up, timely follow-up, letting me know they are looking into it and getting back to us regularly." “Helped me create the bill of materials needed for a project.
    37. 37. Step 3: Stop the BS & Execute
    38. 38. Scott’s Inbox: 8/1-8/14 THIS IS NOT PERSONAL.
    39. 39. BullshIt
    40. 40. Select the right tools and use them to get your message to market most effectively and most cost efficiently.
    41. 41. Usage Effectiveness Industry Press Emails Direct Mail Website SEO Word of Mouth Events/Webinars Peer Review Sites Online Communities Blogs White Papers, Videos, Webinars Advertising Calling
    42. 42. Source: UBM, “The Mind of the Engineer” study, 2012 The Mind of the B2B Techie
    43. 43. Source: Google/Compete Tech B2B Customer Study, June 2012. (n=1024 Tech B2B customers) +30 Billion Searches in B2B IT
    44. 44. Source: Google/Compete Tech B2B Customer Study, June 2012. (n=1024 Tech B2B customers) Search Drives B2B Engagement
    45. 45. 91% of Tech B2B customers make purchase-related searches from a mobile device. Source: Google/Compete Tech B2B Customer Study, June 2012. (n=629 Tech B2B customers)
    46. 46. Source: Google/Compete Tech B2B Customer Study, June 2012. (n=629 Tech B2B customers) Mobile Serves B2B
    47. 47. Source: Google/Compete Tech B2B Customer Study, June 2012. (n=1024 Tech B2B customers) YouTube is the World’s #2 Search Engine Product/Service Features Customer Reviews “How To” Instructions 66% of Tech B2B customers who view a video are likely to search for more information or visit your website.
    48. 48. 19% 81% Does Social Media Impact How You Make Buying Decisions? Source: 2013 EAG Buyer’s Experience Survey; n=200 So…. • Social networks do not yet exert much influence over how IT buyers interact with vendors. • IT buyers do use social media to develop trusted peers and sources. • First listen (blogs, communities, forums, Lin kedIn groups, twitter) then become part of the discussion by adding value to nurturing
    49. 49. Social Builds Credibility
    50. 50. 52% Feel that their colleagues’ opinions are very important when looking for business products/services. Source: Google B2B Customer Study, June 2012 (n=629)
    51. 51. BUT THIS KEEP CHANGING.
    52. 52. Step 4: Enable Sales.
    53. 53. 57% of B2B customers feel that their sales reps are not prepared at the first meeting. 33% of deals are being lost because of circumstances within your reps’ control © 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview
    54. 54. “What your organization stands for is as important as what you sell.” IBM CMO Research 2012
    55. 55. 40% 22% 12% 9% 9% 6% 2% 0% 5% 10% 15% 20% 25% 30% 35% 40% Ability to understand & solve my challenges Industry knowledge & expertise Ability to leverage company's resources Technology expertise Likability & personality Ability to communitcate differentiators Product knowledge Top 3 Vendor Sales Rep Attributes in Terms of How they Influence Buying Decision Source: 2013 IDC Sales Enablement Overview; n=204
    56. 56. Business Leaders IT Leaders Overall Knowledgeable about their products/solutions 88% 88% 88% Understands my issues and where they can help 34% 43% 38% Can relate to my role and responsibilities in the company 38% 29% 34% “When you meet with a vendor salesperson, how often are they prepared for the meeting with you in the following ways?” Source: Forrester Research, Inc. (n= 166 North American enterprise business and IT decision makers)
    57. 57. Prospects/customers started to delay purchasing conversations with suppliers. Due Diligence Begins First Engagement w/ Sales Be the Concierge. Purchase 57%-70%
    58. 58. © 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview Sales Enablement: The delivery of the right information to the right person at the right time in the right format and in the right place to assist in moving a specific sales opportunity forward.
    59. 59. © 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview Salespeople spend 7+ hours/week looking for information to help them prepare for sales calls. 50% of sales tools are pushed via email and only 10% is made available in a useful format. Is it any wonder that one of three deals is lost due to the lack of sales preparation?
    60. 60. 6 Key Takeaways: 1. Buyers are in control 2. Know your why 3. Align sales/marketing 4. Understand “value” and go the extra mile 5. Stop the B.S. and execute 6. Enable sales
    61. 61. It’s a great time to be in Tech.
    62. 62. Scott Salkin Founder & CEO ssalkin@idstm.com 602.881.1718 @scottsalkin @idstm IDS is a business-to-business (B2B) marketing and lead generation firm whose mission is twofold: 1. to help technology companies and startups grow through smart, impactful sales and marketing, and 2. to help our local community and economy grow through technology and entrepreneurial advocacy and mentorship.

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