This document discusses challenges that sales organizations face in aligning sales and marketing efforts. It outlines 7 prescriptions for overcoming these challenges: 1) Developing ideal prospect profiles, 2) Creating key stakeholder personas, 3) Identifying actionable issues prospects face, 4) Establishing a unified sales pipeline, 5) Providing stage-relevant content, 6) Creating conversation planners, and 7) Developing FAQs and tough-to-answer questions. The document emphasizes the importance of having one aligned plan, pipeline, and playbook to coordinate sales and marketing activities.
Making the Connection - Sales 2.0 London 2013 presentation
1. Bob Apollo
CEO
INFLEXION-POINT
MAKING THE CONNECTION
BETWEEN THE BUYER’S
JOURNEY, YOUR PIPELINE,
+ YOUR REVENUE GOALS
@Sales20Conf • www.sales20conf.com/London2013 • #s20c
bob.apollo@inflexion-point.com • @bobapollo
2. CHALLENGE #1:
ELIMINATING THE
DEPENDENCY ON HAND-TO-
HAND SALES HEROICS BY
IMPLEMENTING A
REPEATABLE, SCALABLE
SALES PROCESS…
CHALLENGE #4:
BRIDGING THE
PERFORMANCE GAP
BETWEEN YOUR “A”
PLAYERS AND THE REST
OF THE SALES
ORGANISATION…
CHALLENGE #3:
ENSURING THAT EVERY
SALES AND MARKETING
ACTIVITY IS TIGHTLY
ALIGNED WITH YOUR
PROSPECT'S BUYING
BEHAVIOURS…
CHALLENGE #2:
SHIFTING THE FOCUS FROM
ONE-OFF TRANSACTIONAL
SALES TO HIGH-VALUE
LONG-TERM STRATEGIC
CUSTOMER
RELATIONSHIPS…
10. 1: THE SHAPE OF THE FUNNEL
MATTERS
2: VELOCITY IS JUST AS IMPORTANT
AS VALUE OR VOLUME
3: YOU MUST KNOW WHAT A
“WINNING DEAL” LOOKS LIKE
4: IF YOU’RE GOING TO LOSE
ANYWAY, YOU’D BETTER LOSE EARLY
13. BUT…
…THEIR BUYING JOURNEY IS ALMOST NEVER LINEAR
…THEY OFTEN DON’T UNDERSTAND WHERE
THEY’RE GOING OR HOW TO GET THERE
…FROM ANY POINT, THEY COULD CHOOSE
TO MOVE FORWARDS, TO GO BACKWARDS,
TO HOLD FAST OR ABANDON THE
JOURNEY COMPLETELY
15. [Inspiration: Professor Eddie Obeng | Pentacle Virtual Business School]
PAINT BY
NUMBERS
LOST
IN THE
FOG
QUEST FOR
THE GRAIL
HEADLESS
CHICKEN
4 STATES
22. 57%
[Source: CEB]
POTENTIAL SOLUTIONS ALREADY IDENTIFIED
REQUIREMENTS ALREADY DEFINED
PRIORITIES ALREADY ESTABLISHED
NEEDS ALREADY SCOPED
FIRST DEEP
ENGAGEMENT
WITH SUPPLIERS
23. 57%
[Source: CEB]
ARRIVE LATE
REFRAME THE PROSPECT’S PERCEIVED
NEEDS, PRIORITIES AND BUYING
DECISION CRITERIA
POTENTIAL SOLUTIONS ALREADY IDENTIFIED
REQUIREMENTS ALREADY DEFINED
PRIORITIES ALREADY ESTABLISHED
NEEDS ALREADY SCOPED
24. 57%
[Source: CEB]
ARRIVE EARLY
OPPORTUNITY TO INFLUENCE
THE BUYING DECISION
PROCESS AND CRITERIA
ARRIVE LATE
REFRAME THE PROSPECT’S PERCEIVED
NEEDS, PRIORITIES AND BUYING
DECISION CRITERIA
26. 80-90% OF MARKETING-GENERATED SALES
SUPPORT MATERIALS REMAIN UNUSED
SALES PEOPLE WASTE DOZENS OF HOURS
PER MONTH (RE)CREATING MATERIALS
ONLY 1 in 8 MEETINGS WITH SALES PEOPLE
RATED “VALUABLE” BY PROSPECTS
GROWING TREND FOR COMPLEX B2B SALES
CYCLES TO END IN “NO DECISION”
[Sources: Forrester, CMM Group, CSO Insights]
33. YOU CAN’T DEFINE A
MARKET THROUGH
DEMOGRAPHICS…
…YOU HAVE TO
UNDERSTAND THE
PSYCHOGRAPHICS
34. 2: KEY STAKEHOLDER PROFILES
TITLES, ROLES + RESPONSIBILITIES
ROLE IN DECISION MAKING PROCESS
ISSUES, CONCERNS + MOTIVATIONS
LIKELY PERSONAL PRIORITIES
INTERNAL + EXTERNAL INFLUENCES
THEIR “BUYERSPHERE”
COMMERCIAL TECHNICAL FUNCTIONAL
LEGAL
+
PROCUREMENT
35. YOU’VE GOT TO SATISFY
EVERY STAKEHOLDER’S
“WIIFM” TEST
WHAT’S IN IT FOR ME?
FOR MY DEPARTMENT?
FOR MY COMPANY?
36. 3:ACTIONABLE ISSUES
A PROBLEM YOUR PROSPECT HAS
TO DO SOMETHING ABOUT…
…FOR WHICH YOU HAVE A
PROVABLY SUPERIOR SOLUTION
37. IF THEY DON’T HAVE TO DO
SOMETHING ABOUT IT,
THEY PROBABLY WON’T
WHY CHANGE?
WHY NOW?
WHY YOU?
38. EXAMPLE: HR SOFTWARE
BEFORE
EXCLUSIVELY
DEMOGRAPHIC APPROACH
TO SEGMENTATION
FOCUS ON MID-LEVEL
FUNCTIONAL MANAGERS
CAMPAIGNED AROUND
PRODUCT FUNCTIONALITY
AFTER
STRUCTURAL, BEHAVIOURAL
AND SITUATIONAL
SEGMENTATION
FOCUS ON C-LEVEL
EXECUTIVES
CAMPAIGNED AROUND
CRITICAL BUSINESS ISSUES
10x
RESPONSE RATE
4x
PIPELINE VALUE
2x
ANNUAL REVENUE
39. 4: ONE UNIFIED PIPELINE
BASED ON BUYING DECISION PROCESS
CLEAR STAGES + MILESTONES
AGREED MQL, SQL, SQO
LEAD SCORING + OPPT’Y QUALIFICATION
CLEAR RESPONSIBILITIES + HANDOFFS
UNTROUBLED IMPLEMENTINGAWARE CONCERNED EVALUATING DECIDING APPROVING
MKTG SALES
40. THE MORE VERSIONS OF
THE TRUTH YOU
ALLOW…
…THE MORE
LIKELY IT IS THAT
ALL OF THEM ARE FALSE
44. IF YOU CREATE CONTENT
WITHOUT DEVELOPING
TALKING POINTS…
…THEN THE SALES
CONVERSATION COULD
(AND ALMOST CERTAINLY
WILL) HEAD OFF IN ANY
RANDOM DIRECTION
45. 7: FAQs + TAQs
FREQUENTLY ASKED, YET TOUGH-TO-
ANSWER QUESTIONS
SHARE THE COLLECTIVE LEARNING
OF YOUR “BEST BRAINS”
!?
46. IF WE’D EACH HAD TO
INDIVIDUALLY REINVENT
THE WHEEL…
…THEN MOST
OF US WOULD HAVE
ARRIVED HERE ON FOOT
(AND PROBABLY MISSED
ALL THE BEST SESSIONS)
52. GET ALIGNED…
OR GET LEFT BEHIND
Bob Apollo
Inflexion-Point
www.inflexion-point.com
Sales+Marketing Alignment Counsellors
bob.apollo@inflexion-point.com | +44 7802 313300
Editor's Notes
BOB APOLLO OF INFLEXION-POINT. UK-BASED ORGANISATION – MORE PRACTITIONERS THAN CONSULTANTS – WORKING WITH A BUNCH OF INTERESTING B2B-FOCUSED ORGANISATIONS, HELPING THEM TO FIND WAYS OF ACCELERATING REVENUE GROWTHLIKE TO SHARE SOME OF THE LESSONS LEARNED - MY GOAL TODAY IS SIMPLY TO STIMULATE YOU TO THINK ABOUT WHAT YOU’RE DOING TODAY IN YOUR OWN SALES AND MARKETING ACTIVITIES – AND TO MAYBE OFFER SOME IDEAS THAT COULD HELP YOU DO EVEN BETTER
HERE ARE THE 4 CHALLENGES I HEAR MOST FREQUENTLY FROM THE CEOs OF OUR CLIENTS. SOME OR ALL MAY RESONATE WITH YOU
BUT IN MOST ORGANISATIONS THERE’S STILL PLENTY OF ROOM FOR IMPROVEMENT. SO WHAT’S HOLDING THEM BACK/
LET’S START WITH ONE OF THE MOST COMMON METAPHORS – THE IDEA OF THE SALES FUNNEL. WANT TO ACKNOWLEDGE THE INSPIRATION OF ONE OF STAN’S FELLOW DIRECTORS, DOUG KESSLER. YOU SEE THE FUNNEL IS A FLAWED METAPHOR
IN A PERFECT WORLD, AND IN A REAL FUNNEL, EVERYTHING THAT FLOWS IN THE TOP IS DRAWN OUT OF THE BOTTOM THROUGH THE MIRACLE OF GRAVITY
BUT IN OUR WORLD, WE ALL NOW THAT DOESN’T HAPPEN: THE FUNNEL LEAKS. ITS CONTENTS WHIRL AROUND. SOME FLOW UPHILL. OTHERS EVAPORATE.AND YOU KNOW? YOUR FUNNEL IS LEAKING RIGHT NOW, IN PLACES THAT MAYBE ARE NOT YET VISIBLE TO YOU
I WANT TO ASK YOU A QUESTION. HERE ARE TWO QUITE DIFFERENT FUNNEL SHAPES – EXHIBIT A AND EXHIBIT B. THERE ARE FAR MORE DEALS IN FUNNEL A. WHICH IS THE HEALTHIEST FUNNEL? AND WHY?ACTUALLY,
ACTUALLY, IT’S EXHIBIT “B”. THE FATTER FUNNEL IS WASTING FAR MORE TIME AND EFFORT – EFFORT THAT COULD BE SPENT FINDING AMD CLOSING MORE OF THE RIGHT SORT OF OPPORTUNITIES. NOT JUST WASTING EFFORT – WASTING TIME AND ARTIFICALLY EXTENDING SALES CYCLESUNDERWEAR: BLOOMERS OR THONGS? BLLOMERS CONCEALING JUST A LITTLE TOO MUCH OF THE MYSTERY.
MOST ORGANISATIONS MEASURE THEIR PIPELINES IN TERMS OF STAGE, VOLUME AND VALUE. BUT THERE’S ANOTHER MEASURE THAT’S EQUALLY IMPORTANT: VELOCITY. WINNING DEALS MOVE THROUGH THE FUNNEL AN AVERAGE OF 2.5 TIMES FASTER THAN DEALS YOU END UP LOSING, OR WHICH DO NOTHING. IF YOU TAKE NO OTHER ACTION FROM TODAY, IF YOU’RE NOT MEASURING DEAL VELOCITY LIKE A HAWK, START DOING SO
SHARE TWO SIMPLE CONCLUSIONS. IF YOU’RE NOT MEASURING VELOCITY TODAY, YOU’RE WASTING TIME. AND IF YOU’RE GOING TO LOSE, YOU HAD BETTER LOSE EARLY
ANOTHER INCREASINGLY COMMON METAPHOR: BUYER’S JOURNEY
IT’S AN APPARENTLY SIMPLE CONCEPT. THE BUYER PROCEEDS THROUGH A SERIES OF DECISION MAKING STAGES
BUT, JUST LIKE THE FUNNEL, THIS METAPHOR, ALTHOUGH USEFUL, IS A POTENTIALLY DANGEROUS SIMPLIFICATION
I’D LIKE TO SHARE A COMPLEMNTARY PERSPECTIVE WITH YOU. NOT JUST THE STAGE, BUT THE STATE OF YOUR PROSPECT’S BUYING JOURNEY. YOU CAN CLASSIFY ALMOST EVERY PROJECT ALONG TWO SIMPLE AXES
THESE DIFFERENT STATES PROVOKE DIFFERENT BEHAVIOURS – ON BOTH THEIR PART AND YOURS. BUT IF YOU DON’T KNOW WHAT STATE YOUR BUYERS ARE IN, YOU CAN END UP IMPLEMENTING A LOSING STRATEGY
LETS START WITH PAINTING BY NUMBERS. BUYING IS AN ALMOST MECHANICAL PROCESS.
NOW, A FAVOURITE OF MINE - NOT. KNOW HOW, BUT DON’T KNOW WHERE (OR EVEN WHY). TYPICALLY WHERE DEALS HAVE BEEN TAKEN OVER BY PROCUREMENT. THE ORIGINAL REASON FOR CHANGE OFTEN LOST. ASSOCIATED WITH LOW WIN RATES
I MUCH PREFER LOST IN THE FOG. EARLY STAGE OPPORTUNITIES.
AND QUEST FOR THE GRAIL CAN BE PRETTY PROMISING AS WELL
LET’S REVERT TO THE BUYER’S JOURNEY FOR A MOMENT. THERE NO DOUBT THAT INFORMATION POWER MEANS THAT BUYERS ARE ENGAGING WITH SALES PEOPLE EVER LATER IN THE DECISION MAKING PROCESS. RESEARCH BY CEB SUGGESTS THAT ONE AVERAGE THE BUYING CYCLE IS MORE THAN HALFWAY THROUGH…
NOT UNUSUAL
IF YOU ARRIVE LATE TO THE PARTY, YOU EITHER NEED TO PLAY BY THE RULES THAT HAVE ALREADY BENE ESTABLISHED (TYPICALLY TO YOUR DISADVANTAGE) OR CHALLENGE
BUT IF – THROUGH COMPELLING CONTENT – YOU CAN GET TO THE PARTY EARLY – MAYBE EVEN GET THE PARTY GOING…
SOME PRETTY PROFOUND CONSEQUENCES
PROBLEMS STEM FROM A FAILURE TO ALIGN
CONSEQUENCES ARE AN ALMIGHTY AMOUNT OF WASTED EFFORT
SURELY, OUR GOAL IS TO ACHIEVE A MUCH GREATER OVERLAP
DO THAT BY…
ONE SALES AND MARKETING NEED TO GET TOGETHER. DEMOGRAPHICS ARE ALMOST NEVER THE MOST IMPORTANT FACTORS
TWO, LEARN MORE ABOUT YOUR KEY STAKEHOLDERS. IN PARTICULAR, NEED TO UNDERSTAND THE BUYERSPHERE THAT SURROUNDS EACH OF THESE KEY STAKEHOLDER TYPES.
THREE, FOCUS ON THING THAT ARE INTERESTING, ACTIONABLE AND URGENT TO THEM. BUT BE SELECTIVE - DON’T EDUCATE THE MARKET FOR COMPETITORS WHO MAY BE ABLE TO SOLVE THE PROBLEM EVEN BETTER THAN YOU.
HERE’S A LITTLE SNAPSHOT OF THESE PRINCIPLES IN ACTION. ORIGINAL TARGETS WERE BUDGET TAKERS, RATHER THAN BUDGET MAKERS
STEP 4. IDEA THAT MKTG DOES BRANDING AND LEAD GENERATION THEN HANDS OVER TO SALES IS DEFUNCT – OR SHOULD BE
AS WE’LL HEAR FROM STAN, IF YOU UNDERSTAND THE BUYING PROCESS, YOU CAN WORK OUT WHAT TACTICES ARE GOING TO WORK BEST IN MOVING IT FORWARD. SOME TACTICS ARE CLERALY MORE EFFECTIVE AT THE TOP, MIDDLE AND THE BOTTOM OF THE SALES FUNNEL. AND WHICH CONTENT THEY CHOOSE TO CONSUME CAN GIVE YOU REAL CLUES ABOUT WHERE THEY REALLY ARE IN THEIR DECISION MAKING PROCESS.
BUT GREAT CONTENT CAN ONLY TAKE YOU SO FAR. YOU ALSO NEED TO EQUIP THE SALES PEOPLE TO HAVE SMART CONVERSATIONS THAT POINT TOWARDS THE NEED FOR YOUR SOLUTION. IN FACT, I’M GOING TO SAY SOMETHING THAT SOME OF YOU MAY REGARD AS CONTROVERSIAL. NO PIECE OF MARKETING COLLATERAL, NO CAMPAIGN, WITHOUT TALKING POINTS
LAST, BUT NO MEANS LEAST. TOP SALES PEOPLE ANSWER TOUGH QUESTIONS IN A WAY THAT SEEM INSTINCTIVE. BUT SHARING EFFECTIVE ANSWERS TO TOUGH QUESTIONS CAN IMPROVE EVERYONE’S SALES EFFECTIVENESS
SO LET ME SUMMARISE: SALES AND MARKETING NEED A JOINT PLAN
SALES AND MARKETING NEED A JOINT PLAYBOOK THAT CAPTURES WINNING HABITS AND BEHAVIOURS. WE CAN HELP ON BOTH COUNTS
SO – WHAT’S IN A GOOD PLAYBOOK?SUPPORTS INITIATIVE AND CREATIVITY, RATHER THAN CONSTRAINING IT.