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How Organizations Must Evolve to Counter Today’s Highly Empowered Customers
The Social & Insight Selling Era
©2014 LinkedIn Corporation. All Rights Reserved.
Matthew KielSenior Director, CEB
Kevin RyanMarketing Manager, LinkedIn
September 23, 2014
Agenda for today
• Introduction and Housekeeping
• The Social Selling Era
• The Insight Selling Era
• Q&A
Relationships are foundational for sales success
Kevin
Company
A
Company
B
Company
C
are now involved in the average B2B buying decision
peopleBoss
Peer
Direct report
Business leader
Cross-functional partner
CorporateExecutiveBoard2013–WinningTheConsensusPurchase
Your target buyer
5.4
Decisions involve more people than ever before
75%of B2B buyers now usesocial media to be more informed on vendors
IDC 2014 – Social Buying Meets Social Selling
Decision makers rely on social media to choose between potential vendors
Network referrals
White papers
Company websites
Blogposts
Company pages
Your target buyers
Socialrelationships
Your competitor
Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level
90%of decision makers say they never respond to cold outreach
Decision makers now ignore cold outreach
You
Your competitor
X
X
X
Your target buyers
5.4 75of B2B buyers now usesocial media to be more informed on vendors
% 90of decision makers say they never respond to cold outreach
%people are now involved in the average B2B buying decision
Corporate Executive Board 2013 – Winning The Consensus PurchaseCorporate Executive Board 2012 – New Decision Timeline
Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level
The buyer’s process has changed
%75of B2B buyers now use social media to be more informed on vendors
Relying on the buyer to inform you onkey updates
5.4people are now involved in the average B2B buying decision
Looking for one all-powerful decision maker
%90of decision makers say they never respond to cold outreach
Cold-calling prospects like they’re just a name in a database
I found out a month later the Director of Marketing left my
account and joined another top prospect
of mine
The VP of Marketing went dark and now
I’m back at square one
I keep pounding – email, phone, voicemail
– but can’t get a response
How well has your team adapted to this new normal?Are you still:
“
”
“
”
“
”
Focus on the right people and
companies
Stay informed on key updates at
your target accounts
Build trust with your prospects and customers
Building relationships with prospects and customers is different in this new normal. You need to:
Billionsof professional relationships
313M+members
2B+member updates per week
LinkedIn has a wealth of information on the people & companies with whom you want to build relationships
Relevant news
LinkedIn’s network data
Your accounts,leads & preferences
Sales Navigator makes it simple to establish and grow relationships with your prospects and customers
Sales Navigator
The Insight Selling EraHow Organizations Must Evolve to Counter Today’s Highly Empowered Customers
THE TRIED AND TRUE SALES APPROACH
13
CHANGING CUSTOMER BUYING BEHAVIOR
n = 1,460
14
MAKE ME SMARTER
n = 4,960
15
• Always goes the extra mile
• Doesn’t give up easily
• Self-motivated• Interested in
feedback and development
• Always has a different view of the world
• Understands the customer’s business
• Loves to debate• Pushes the customer
• Reliably responds• Ensures that all
problems are solved• Detail oriented
• Follows own instincts
• Self-assured• Independent
• Builds strong customer advocates
• Generous in giving time to help others
• Gets along with everyone
Hard Worker Challenger Relationship Builder
Lone Wolf Problem Solver
THE 5 PROFILES OF SALES PROFESSIONALS
© 2012 The Corporate Executive Board Company. All Rights Reserved.
n = 10,000+
CHALLENGER REPS MOST LIKELY TO WINPe
rcen
tage
of P
opul
ation
% of Core Performers
% of High Performers
Challenger Lone Wolf Hard Worker Problem Solver Relationship Builder
23%
39%
15%
25%22%
17%
14%12%
26%
7%
n = 10,000+ 17
Challenger•Offers unique perspective•Two-way communication skills
•Knows customer value drivers•Can ID economic drivers
•Comfortable discussing money•Can pressure the customer’s thinking
Relationship Builder•Forms good relationships•Builds internal advocates•Builds cross-functional relationships
•Can work with anyone•Is genuine•Accessible to customers•Gives time to help others•Respects customer’s time
Build Constructive Tension Reduce Customer Tension
Tailor
TakeControl
Teach Gets along with Others
Likeable
Generous with Time
THE CHALLENGER BLUEPRINT
18
CHALLENGERS EXCEL IN COMPLEX SALES
Low Com-plexity Sale
High Com-plexity Sale
20%
54%25%
25%26%
10%18%
7%11%4%Relationship Builder
Problem Solver
Hard Worker
Lone Wolf
Challenger
Pe
rce
nta
ge
of
Hig
h P
erf
orm
ers
© 2013 The Corporate Executive Board Company. All Rights Reserved.
THE NEW HIGH PERFORMING SALES REP
Teach for Differentiation
Take Control
Tailor for Resonance
The Challenger Rep20
A REQUIRED SHIFT
21
• Customer buying behavior and expectations have changed
• New buying behaviors necessitate new selling behaviors
• HOW YOU SELL > WHAT YOU SELL
• Relationships are still vitally important, but they are a means to an end
• Customers want to be challenged, but generally want to avoid change
• Challenger is ORGANIZATIONAL CAPABILITY FIRST, INDIVIDUAL CAPABILITY LAST
• The question should not be “How can I make all my reps Challengers?” but rather “How can we can enable better Teach, Tailor, and Take Control behaviors across the org?”
22
KEY TAKEAWAYS
23
BECOMING A CHALLENGER ORGANIZATION
Four Pillars of the Challenger Journey
• Do we know how our customers buy?
• Do we know how many stakeholders participate in that process?
• Why should our customers buy from us over everyone else? Does it matter? Can we prove it?
• How can we enable our sellers to have different-in-kind conversations with customers? What are the implications for training and development?
• How do we evolve our hiring/interviewing process to screen for these skills?
• What about first-line managers? Are we arming them with the differentiated skills they need to lead in this environment?
• How do our process and metrics need to evolve?
24
QUESTIONS TO CONSIDER
CHALLENGER IS THE TIP OF THE ICEBERG
25
Since Challenger, CEB has continued to analyze customer and rep behavior in an effort to gain a very tactical, data drive understanding of how the best reps go to market differently than most. Data shows that high performers have very different approaches to:
• Opportunity Qualification• Sales process • Stakeholder targeting• Stakeholder engagement
ceburl.com/SolutionSales
26
DISMANTLING THE SALES MACHINE
As customers grow more educated and empowered, how we need to engage them grows in complexity and in variability.
There are massive implications to:
• Sales Process• CRM• Dashboards, metrics, and comp plans• How and where we source talent• Emerging skillsets for sales reps (IQ over EQ)• Emerging skillsets for sales managers
(judgment and network performance)
ceburl.com/Dismantling
Visit sales.linkedin.com for more information