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The 6 Imperatives: Competing in the New Normal

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Balderton CEO Event Sept 15 2020

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The 6 Imperatives: Competing in the New Normal

  1. 1. September 15, 2020 The 6 Imperatives competing in the Next Normal 1
  2. 2. Robert Wright Partner Philip Lay Senior advisor 2
  3. 3. 3 A generational event there is no going back Your buyers have changed, forever Success of the past is now irrelevant Inflection points create new leaders
  4. 4. 4 New era, new questions What are the ACTIONS tech leaders are taking right now? Has my product become a “NICE TO HAVE”? Has the pandemic OPENED UP new possibilities? Have some of my TARGET SEGMENTS gone dark? Do I need to adjust my GTM STRATEGY? Is my OLD NARRATIVE no longer relevant?Where have growth leaders found the least resistance PATH TO REVENUE?
  5. 5. 5 The 6 imperatives today’s success principles 1 Segmentation is “in” again 2 Take a stand- have a viewpoint 3 Focus on a business process the pandemic broken 4 Your competition is “do nothing” 5 Expand… then Land 6 Make your buyer the “new” hero
  6. 6. 1 Segmentation is “in” again! 6 © Firebrick Consulting Inc. Proprietary & Confidential
  7. 7. © The Chasm Group, LLC | CONFIDENTIAL Market Segmentation Criteria Prioritize Markets Undergoing Major Transformation 77
  8. 8. © The Chasm Group, LLC | CONFIDENTIAL 8 Defining the Rules of Engagement 4. Way off Target (large deal) Bring in an integrator to do the deal; take a back seat in the role of supplier. 3. Way off Target (small deal) Opportunistic sale- still a key part of overall revenue plan- but sales force is on its own. 1. Right on Target: Commit to 100% whole product for customer at center. “Whatever it takes.” 2. In the Target Zone: Target marketing programs should help, but no support for customer-specific enhancements.
  9. 9. 2 Take a stand have a viewpoint 9 © Firebrick Consulting Inc. Proprietary & Confidential
  10. 10. 10 © Firebrick Consulting Inc. Proprietary & Confidential executive buyers don’t care how your product works
  11. 11. 11 © Firebrick Consulting Inc. Proprietary & Confidential Have a Viewpoint your 7 slide storyline arc REFRAME/ PROBLEM name the $MM problem SHOW PROMISED LAND from/to – shift to a new approach BUYING CRITERIA what’s needed to solve the problem THE ANSWER introduce your company VALUE PILLARS your 3 differentiations Marketecture connecting the story to your products/services Inspire to action next steps
  12. 12. 3 Fix a business process the pandemic broke 12 © Firebrick Consulting Inc. Proprietary & Confidential
  13. 13. © The Chasm Group, LLC | CONFIDENTIAL 1313
  14. 14. © The Chasm Group, LLC | CONFIDENTIAL 1414
  15. 15. 4 Your competitor is “doing nothing” 15 © Firebrick Consulting Inc. Proprietary & Confidential
  16. 16. 16 No executive buyer wants another Tech vendor © Firebrick Consulting Inc. Proprietary & Confidential
  17. 17. 17 Own a $MM executive PROBLEM“incremental” improvement is not enough © Firebrick Consulting Inc. Proprietary & Confidential
  18. 18. 5 Prioritize Expand…. before Land 18 © Firebrick Consulting Inc. Proprietary & Confidential
  19. 19. © The Chasm Group, LLC | CONFIDENTIAL 19 Land & Expand > Customer Success 19 9/15/20
  20. 20. © The Chasm Group, LLC | CONFIDENTIAL 20 Six Dimensions to EXPAND Adoption in Each Account 20
  21. 21. © 2018 Chasm Group, LLC CONFIDENTIAL – DISTRIBUTION RESTRICTED
  22. 22. © 2018 Chasm Group, LLC CONFIDENTIAL – DISTRIBUTION RESTRICTED
  23. 23. © The Chasm Group, LLC | CONFIDENTIAL 23 Key Metric: Net Expansion Rate Measure Net Expansion Rate among “top 10%-20%” strategic accounts. But is this enough to motivate CEOs to get serious about customer impact? 9/15/20
  24. 24. 6 Your buyer becomes the“new” hero 24
  25. 25. 25 give them a new STRATEGYto navigate the new business climate
  26. 26. NEXTNOW Give your buyer a new strategy to take to the exec team 26 Employee Execution strategyEmployee feedback surveys Field service schedules/tasks Field Service Engagement strategy Remote worker security Boundless Security strategy
  27. 27. 27 The 6 imperatives today’s success principles 1 Segmentation is “in” again 2 Take a stand- have a viewpoint 3 Focus on a business process the pandemic broken 4 Your competition is “do nothing” 5 Expand… then Land 6 Make your buyer the “new” hero
  28. 28. 28 Questions
  29. 29. Robert Wright Partner bwright@firebk.com www.firebk.com Philip Lay Senior advisor play@chasmgroup.com www.chasmgroup.com 29 © Firebrick Consulting Inc. Proprietary & Confidential

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