Digital Transformation: 7 Steps to Sales Growth
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How can you transform your business to align with tomorrow's digitally savvy decision makers? Here are 7 steps to take your business down the road to growth in the digitally transformed world.
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Digital Transformation: 7 Steps to Sales Growth
- 2. 2 Digital Transformation - Obstacles and Challenges* *Source: Saugatuck Technology, “Digital Business” Survey (Nov. 2014, N=102 “C-level” IT / Bus. / Finance Leaders)
- 3. Your job is this
- 4. “Fire your sales force”
- 5. The old Golden Rule in Sales was: Find out what your customers want, and give it to them.
- 6. Give your customers the ability to do what they can’t currently do but would want to if they only knew it was possible. The new Golden Rule in Sales is:
- 8. “Reasons lead to conclusions. Emotions lead to actions.” - Saatchi & Saatchi
- 10. Horizon 1 0 - 6 months Horizon 2 6 - 12 months Horizon 3 12 - 36 months Thinking at 3 Time Horizons
- 11. Get it right
- 12. Get it wrong
- 13. - Geoffrey A. Moore “Well, first off, realize you are in a fight for your life. The new business model is not a competitive threat, it is an existential threat.”
- 14. The status quo is not a growth strategy
- 15. Disruptive Opportunity Matrix Extend White Space Defend ExtendCurrent New Current New Source: Create Marketplace Disruption by Adam Hartung, Pearson Education, Inc. 2009 Products Customers
- 19. #2: Catch the train
- 21. Think outside the box
- 22. Think outside the box
- 26. You can’t teach an old dog new tricks
- 29. 29 Selling above the funnel Q1 Q2 Q3 Q4 Q1 • Prospection • Qualifying • Needs • Proposal • Negotiation • Close Demand Creation Demand Capture • Market identification • Requirements analysis • Demand creating • Lead Generation and Management • Engagement
- 30. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 31. Future reality
- 32. What are the key business challenges facing your target customers?
- 33. Focus on the problem
- 34. Target audience
- 35. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 36. http://tabernaclefortoday.files.wordpress.com/2012/03/cart_before_the_horse.jpg Cart before the horse
- 37. Build a better mouse trap www.flickr.com/photos/clementlivolsi/4596430458
- 38. “If I had asked people what they wanted, they would have said faster horses.” - Henry Ford 1863 - 1947
- 39. 3 levels of clarity
- 40. Basic Product/Service: • Technology • Price performance • Product quality E2E Customer Experience: • People • Perceived value • High touch • Exceed customer expectations • Delight and astound customers 1 2 Support Services 3 E2E Customer Experience Differentiation: 3 Levels of Perceived Value Basic Product/Service Support Services: • Levels of support • Quality of service • Systems • Processes Your Cloud Services
- 41. Price vs Value Products Services Experience Customer
- 42. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 43. The problem is that customers don’t buy the way we sell
- 44. The Age of the Customer Make people want things 20th century Make things people want 21st century
- 46. Educate
- 47. Inspire
- 48. Create a sense of urgency
- 49. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 50. Digital reality
- 51. Interruption Marketing: Targeting Audiences with messages through channels to drive transactions The OLD World Engagement Marketing: Engaging communities with shared purpose through experiences to sustain relationships The NEW World
- 54. Early Adopter Market Mainstream Market DANGER - CHASM! Accelerating Customer Adoption of Cloud Services TIME Create capacity to service demand Technology Vendors Channel Partners Build the buzz!!!! Build sales channels • Distributors • Retailers • Resellers • VARs • Service Providers • System Integrators • Consulting Partners Technology Innovators 2% Visionaries 14% Pragmatists 34% Conservatives 34% Sceptics 16% Create a tipping point Influencer/Adopter Programs Demand Generation Influence Generation: Capture the hearts and minds of Tech savvy early adopters, opinion leaders and influencers Channel readiness & activation GTM Strategy & Business Plan PERCENTAGEOFPOPULATION A B
- 55. source: www.corporatevisions.com Marketing Today = Sales Tomorrow
- 56. source: www.corporatevisions.com 1 32 Marketing Today = Sales Tomorrow • Challenge them • Destabilise them • Challenge the status quo • Get them out of comfort zone • Take them to the negative future • Sell your insights • Provide evidence • Cost justify • Lead them through the process • Take them to the beach • Sell your insights • Sell your experience • Take them to the negative future • Create a sense of urgency • Monetise the cost of delay • Take them to the beach • Guide them to take action • Take the order
- 58. Sales Transformation OLD NEW The IT Buyer The Business Buyer Selling into CapEx Budgets Selling into OpEx Budgets Technical Expertise Business Expertise Geographic Sales Territories Vertical Industry Territories Selling Features Selling Results Fixed-Price Contracts Outcome-Based Contracts Demonstrating Features Business Process Discussions Your Complexity and Underlying Architecture Your Consumption Model and Service Capability Maintenance Contracts "Apps Mindset" Face2Face Sales Skills Social Media Knowledge Source: Consumption Economics: The New Rules of Tech by J. B. Wood, Todd Hewlin and Thomas Lah, 2011
- 59. 59 Selling Business Outcomes • Increased revenues or profitability • Faster time to market • Decreased costs • Improved operational efficiency • Revitalizing the organization • Enhancing customer loyalty • Increased market share • Decreased employee turnover • Improved customer retention levels • Increased competitive differentiation • Faster response time • Decreased operational expenses • Increased sales per customer • Improved asset utilization • Faster collections • Reduced cost of goods sold • Minimized risk • Additional revenue streams • Improved time-to-profitability • Increased billable hours • Reduced cycle time • Increased inventory turns • Faster sales cycles • Reduced direct labor costs
- 60. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 61. Channels to Market SOHO & SMB Online Channel Telesales Partners MidmarketOnline, Telesales & Partners EnterpriseDirect & Partners
- 62. 62 • Skill to ask the right questions to change the conversation • Share your relevant industry and business insights with customers • Focus on the customer’s business in the areas where the value payoff for the customer may be the greatest • Knowledge of the customer’s business to calculate the monetized value • Strategy to target the right Decision Makers within the right accounts Complex Sales Transactional Sales • High value / high touch • Sales Rainmakers • Insight-led selling • High volume / low touch • Sales automation • Viral marketing • Digital Marketing • Leveraging social media • Creating relevant and sharable content • Creating a buzz • Creating awareness • Creating demand Sales Alignment
- 63. 63 Referral Selling Selling Adoption Starting convers ation Insight Selling Market Segmentations Consumer SME MME ENT MNC Risks Avoiders Innovators Early Adopters Compliance Seekers Ultimate Decision Maker Personas (Buyer Types) Direct Sales Channel Segmentation Direct Sales Channel Sales Online Sales Channel Sales Online Sales Demand Creation Awareness Education Source of sales leads Add Value Can Sell Reach new Markets Technical Support Go-To-Market Mapping Process
- 64. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 66. “Customers are completing 57% of a buying cycle before ever coming into contact with a sales rep.” - A CEB study of more than 1,400 customers
- 67. The Buying Decision Process
- 70. Create a Compelling Value Proposition1 Differentiate or Die2 Marketing Today = Sales Tomorrow3 Digital Marketing: Demand Generation4 Distribution: Channels to Market5 The Customer Adoption Cycle6 Tipping the Funnel7
- 72. Clients: Actions: Tipping the Funnel
- 73. Typical Conversion Rates 1. Cold calling: 2. External Recommendation: 3. Internal Recommendation: 44%10 X Cold calling (Between 1-5%) 4% 88%20 X Cold calling
- 74. Audience 2
- 75. Social Influence
- 76. 1. Compelling Value Proposition 2. Differentiate or Die 3. Marketing Today = Sales Tomorrow 4. Digital Marketing: Demand Generation 5. Distribution: Channels to Market 6. The Customer Adoption Cycle 7. Tipping the Funnel Quick Review: 4Ps => S A V E Differentiation: 3 Levels of Perceived Value Turn customers into your unpaid sales force Align all Sales & Marketing actions What is the business problem? Competing to remain relevant to tomorrow’s customers Build a Go-to-Marketing Map Integrated campaigns
- 77. 77 • The client has changed • The buying process has changed • The Sales Cycle -> The Customer’s Journey • Market segmentation -> Buyer personas Moving to the Cloud means Business Transformation • Marketing -> Digital -> Social Media -> Social Influence -> Social Selling • Demand Generation • User Value Proposition and Persona Messaging • Marketing Manger -> Community Manager • Internal Alignment • Execution • Sales Channel alignment • Multi-channel touchpoint experience • E2E Customer Experience Rethink the Customer Rethink Sales & Marketing Rethink your Organisation Business Transformation Channel TransformationThe Cloud = Massive Change
- 78. Get it right
- 79. www.flickr.com/photos/horacio/3781750 David R Ednie President & CEO SalesChannel Europe Ph: +33 676 60 09 25 (FRA) Email: david@saleschannel-europe.com Website: www.saleschannel-europe.com