Delivering the right information, to the right people, at the right time in the B2B buying process is critical for persuading buyers to purchase your solution.
But what if your marketing and sales efforts are built on false assumptions about what’s important to buyers and how they make their purchasing decision?
What if you discovered that 70% of your marketing budget and 40% of your sales efforts were NOT being spent in places that actually influence the buying decision? What would be the reaction of your CEO and CFO?
Don’t think that’s likely? Well, that’s EXACTLY what one company discovered after interviewing their customers.
Find out how to make more informed marketing and sales decisions and gain a competitive advantage by interviewing buyers and capturing deep insights into what matters most to them.
2. Delivering the RIGHT INFORMATION
to the RIGHT PEOPLE at the RIGHT TIME
in the B2B buying process is critical
for persuading buyers to purchase
your solution.
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3. But what if your marketing
and sales efforts are built on
FALSE ASSUMPTIONS
about what’s important to
buyers and how they make
their purchasing decision?
4. What if you discovered that 70% of your marketing budget
and 40% of your sales efforts were NOT being spent in places
that actually influence the buyer’s decision?
MARKETING BUDGET
SALES EFFORTS
No
Influence
Influence
No
Influence
Influence
6. DON’T think that’s very likely?
Well that’s EXACTLY what one
company discovered after interviewing
their customers.
- McKinsey & Company, “The B2B Customer Decision Journey:
The Route to Increased Sales”, Forbes Magazine, April 24, 2013
7. The problem with many marketing and
sales strategies is that they’re built on
GENERIC, DEMOGRAPHIC DATA
about B2B buyers, like their age,
gender, roles, responsibilities, key
priorities and biggest challenges.
8. So you understand WHO
your buyers are and what
keeps them up at night.
9. So you understand WHO
your buyers are and what
keeps them up at night.
But you don’t know WHAT
they do to make a buying
decision with regards to
YOUR SOLUTION CATEGORY
and why some choose to
do nothing at all.
12. Q1
Do you know what TRIGGERS some buyers
to do something about their pain points
and needs and look for a solution like yours,
and why some buyers are happy with the
status quo?
YES
NO
13. Q2
Do you know what buyers expect to CHANGE
within their organization once they implement
a solution like yours, and how they define a
successful implementation?
YES
NO
14. Q3
Do you know what real or perceived BARRIERS
could potentially prevent buyers from choosing
your solution, or force the buying process to
grind to a halt?
YES
NO
15. Q4
Do you know what STEPS buyers take to search
for, short-list and evaluate solutions like yours,
and which stakeholders have the biggest
influence at key stages in the buying cycle?
YES
NO
16. Q5
Do you know what precise CRITERIA buyers use
to evaluate a solution like yours, and which are
the most important when making their final
purchasing decision?
YES
NO
17. If you’re like most companies, you
probably answered “YES” to only
1 or 2 out of 5 questions.
19. But there’s HOPE on the horizon.
BU
YE
RS
And
BUYER PERSONAS
are key.
20. “A buyer persona is an example of the real person who buys, or
might buy, products like the ones you market based on what you
learn from direct interviews with them.” - Adele Revella, Buyer Persona Institute
21. There are 2 PARTS to a buyer persona
1. Demographic Data
Gathered from analysts, quantitative
studies and online observation
Information is the same for all buying
decisions, regardless of the product
2. Connection to Your Product
Gathered by interviewing customers that
you’ve won AND lost
Source of competitive advantage
Information is specific to buying decisions
in your product category
22. The connection to your product contains
5 KEY INSIGHTS
Priority
Initiative
Success
Factors
Perceived
Barriers
Buyer
Journey
Source: 5 Rings of Buying Insights™ , Buyer Persona Institute
Decision
Criteria
23. 1. PRIORITY INITIATIVE
What the Insight Reveals
How it Can Be Used
Reveals what has changed within the organization
that triggered them to do something about their
pain points and needs, and search for your type
of product.
Target “status quo” buyers with content that
provides a provocative insight as to why they
should make your product category a strategic
priority for their organization.
24. 2. SUCCESS FACTORS
What the Insight Reveals
Links the buyer’s priority initiative with the need for
your product and reveals the specific changes your
buyer expects to see as a result of implementing
your product.
How it Can Be Used
Produce relevant messages that capture the
attention of actual buyers of your product and
communicate the value using language that
won’t annoy the buyer.
25. 3. PERCEIVED BARRIERS
What the Insight Reveals
How it Can Be Used
Reveals why buyers would not perceive your product
or company as their best option and why they would
choose your competitor - or do nothing at all and
return to the status quo.
Proactively address topics and issues in your sales
and marketing assets that might cause the buying
process to grind to a halt or lead the buyer to
disqualify your company or product.
26. 4. BUYER JOURNEY
What the Insight Reveals
How it Can Be Used
Reveals what steps the buyer takes to search for,
short-list and evaluate solution options, and which
stakeholders get involved and have an influence at
specific stages in the buying process.
Create a buying process map that outlines what
information stakeholders need at each stage in
the buying process, how to reach them, and the
key messages needed to persuade them.
27. 5. DECISION CRITERIA
What the Insight Reveals
How it Can Be Used
Reveals which product and company attributes are
the most important to the organization and how the
buyer concluded which solution was their best option
and would ensure a successful outcome.
Identify what stakeholders need to effectively
evaluate and compare your solution with your
competitors. Provide buyers with the tools
they need and answers to all their questions.
28. Together, these five insights provide a
COMPETITIVE ADVANTAGE
and will give you more confidence to
BUILD and DEFEND
your marketing strategy.
29. What’s more, you’ll create POWERFUL MESSAGES that truly
resonate with buyers and have a greater chance at persuading
buyers to choose your product over the competition’s.
30. The GOOD NEWS
is you don’t need
to interview nearly
as many buyers
as you might
think.
BU
YE
RS
31. You’ll start seeing trends in as few as
6 INTERVIEWS.
BU
BU
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YE
RS
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RS
YE
RS
BU
BU
YE
RS
BU
YE
RS
YE
RS
32. You’ll start seeing trends in as few as
6 INTERVIEWS.
BU
BU
BU
YE
YE
RS
BU
RS
RS
RS
BU
BU
YE
YE
YE
RS
YE
RS
BU
BU
YE
BU
YE
BU
BU
YE
RS
YE
RS
RS
RS
BU
YE
RS
YE
RS
However, you’ll want to interview up to
12 BUYERS to validate the results.
34. “Your buyers are the source of the insights
that will CLARIFY ALL DECISIONS.
By channeling the buyer’s voice - clearly,
accurately and persuasively - the buyer
persona gives marketing the confidence
to say, “This is what really matters to our
buyers. So here’s the plan.”
- Adele Revella, President, Buyer Persona Institute