adapting your pipeline to marketing’s new dynamics
DESCRIPTION
Scott Salkin, President of BMA Phoenix and Founder/CEO of a B2B marketing firm, as he shares data and insight behind dramatic shifts taking place in the IT sales cycle as customers are literally becoming the ‘hunter’ and sales organizations the ‘hunted.' Learn how to react to this revolution in the sales cycle, as opportunities are still abundant, and how Avnet can continue to help you drive demand in this ever changing marketplace.TRANSCRIPT
The Hunt for the Coveted ‘A’ LeadAdapting Your Pipeline to Marketing’s New Dynamics
2© 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview
57% of B2B customers feel that their sales reps are not prepared at the first meeting.33% of deals are being lost because of circumstances within your reps’ control
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Why?
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5
1980’s – 1990’s: Calls & ClosesMore Calls = More Leads = More Wins
© 1992 New Line Cinema
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1990’s – 2000’s: Process, Integration, InsightKnow the Process, Work the Process, Build the Pipeline
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We were in control.
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Then cracks started to show.
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0%
10%
20%
30%
40%
50%
60%
21%15%
35%24%
4%
48%
32%
10%
18%
11%
2nd Choice1st Choice
Source: 2013 IDC Sales Enablement Overview
Relationships with our sales reps no longer guaranteeconsideration.Top consideration factors in a complex b2b sales cycle…
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Buyers started having…and using…more options to find what they needed to know.
Source: B2B Content Marketing Report
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12
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We turned from buyers into researchers.
Source: 1999 20th Century Fox
14Source: 2013 gyro “The At-Work State of Mind Project”
Work became a state of mind.It's imperative to understand their motivations, emotional attitudes and
levels of satisfaction with round-the-clock, all-device messaging.
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Customers
Suppliers
Co-Workers
Family
Friends
Personal Networks
Social Networks
Review Sites/Blog
s
Buyer
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We’re living in a four-screen world.
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It Created a Huge Challenge…
Source: 2013 gyro “The At-Work State of Mind Project”
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Self-Directed Decision MakingProspects/customers started to delay purchasing conversations with suppliers.
Due Diligence Begins First Engagement w/ Sales
Purchase
57%-70%
We’ve All Heard it By Now…
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Buyers Have Taken Control.
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It’s no longer simply about “what” you sell, but “why” and “how” you sell it.
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78% of B2B tech buyers feel that a brand’s reputation
is very important when looking for business products/services.
Source: Google B2B Customer Study, June 2012 (n=629)
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“Today, B2B sales and lead generation are about your brand assets,
thought leadership and emotions built from the vast amount of information that
prospects now have access to.”
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The Search for the “A” Lead is Ending…
YOU ARE THE “A” LEAD
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So what now?
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Step 1: Stop passing the baton.
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Help my team be better. Help me make good decisions.
CIO
Peers
CIOs
C-LevelsIndustry Influencers
Competitors
ProvidersExperts
CEO
Investors
Board
Analysts
C-Level Peers
Lines of Business
Channels
Partner Suppliers
Customers
IT Department
Competitors
ProvidersPeers
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Customers
Suppliers
Co-Workers
Family
Friends
Personal Networks
Social Networks
Review Sites/Blog
s
Buyer
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Self-Directed Decision MakingProspects/customers started to delay purchasing conversations with suppliers.
Due Diligence Begins First Engagement w/ Sales
Purchase
57%-70%
Align and Pull Forward
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“Allbound” is aRevenue Marketing
Culture
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Step 2: Obsess Over Value
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Price ≠ Value
34Source: 2013 IDC Sales Enablement Overview
43% of IT buyers are willing to change vendors to save time.
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“You talk to more CIOs in a week than I do in a year. Teach me something.”
"First ask what problem we were trying to solve…didn't start with a solution.”
"Provide a good demonstration of the product.”
”Go the extra mile to understand my needs and those of my customers. Then give me excellent communication and accurate quotes.”
”Take me through examples of other companies using the solution and send me examples of independent research and reviews from companies with similar issues.”
"Follow-up, timely follow-up, let me know you are looking into it and getting back to us regularly."
“Help me create the bill of materials needed for a project.
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Financ
ial
Review
s
Demo/
POC
Featu
res
Compe
titive
Refer
ence
s
Vision
0%
5%
10%
15%
20%
25%21%
16%14% 14%
12%10%
5%
13%16%
18% 18%
6%
14%
1%
Business Leader
IT Leader
Source: 2013 IDC Sales Enablement Overview
Most Valued Vendor Content in Decision Process
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Self-Directed Decision MakingProspects/customers started to delay purchasing conversations with suppliers.
Due Diligence Begins First Engagement w/ Sales
Concierge
57%-70%
Be the Concierge…
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Step 3: Stop the BS & Execute
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THIS IS NOT PERSONAL.
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#LOL
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Select the right tools and use them to get your message to market most effectively and
most cost efficiently.
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Usage
EffectivenessIndustry Press
EmailsDirect Mail
Website
SEO
Word of MouthEvents/Webinars
Peer Review SitesOnline Communities
Blogs
White Papers,Videos, Webinars
Advertising
Calling
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Source: UBM, “The Mind of the Engineer” study, 2012
The Mind of the Engineer in 2014…
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Source: Google/Compete Tech B2B Customer Study, Jan 2013. (n=1024 Tech B2B customers)
+30B Searches in IT B2B in 2013
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Source: Google/Compete Tech B2B Customer Study, June 2012. (n=629 Tech B2B customers)
91% of Tech B2B customers make purchase-related searches from a mobile device.
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Source: Google/Compete Tech B2B Customer Study, June 2012. (n=1024 Tech B2B customers)
Product/Service Features Customer Reviews “How To” Instructions
66% of Tech B2B customers who view a video are likely to search for more information or visit your website.
What’s the Worlds’ #2 Search Engine?
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19%
81%
81% of IT Buyers Say they Do Not Think Social Media Impacts Their
Purchasing Decision Making
Source: 2013 EAG Buyer’s Experience Survey; n=200
So….
• IT buyers don’t think they use social to buy.
• Use Social to LISTEN (blogs, communities, forums, LinkedIn groups, twitter) then become part of the discussion.
• But they do use social media to develop trusted peers and sources because…
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52% Feel that their colleagues’ opinions are very important
when looking for business products/services.Source: Google B2B Customer Study, June 2012 (n=629)
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Social Also Builds Credibility
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BUT.
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Step 4: Enable Sales.
53© 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview
57% of B2B customers feel that their sales reps are not prepared at the first meeting.33% of deals are being lost because of circumstances within your reps’ control
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Ability to understand & solve my challenges
Industry knowledge & expertise
Ability to leverage company's resources
Technology expertise
Likability & personality
Ability to communitcate differentiators
Product knowledge
0% 5% 10% 15% 20% 25% 30% 35% 40%
40%
22%
12%
9%
9%
6%
2%
Top Vendor Sales Rep Attributes in Terms of How They Influence Buying Decision
Source: 2013 IDC Sales Enablement Overview; n=204
What Do Your Prospects Want?
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Business Leaders
IT Leaders Overall
Knowledgeable about their products/solutions 88% 88% 88%
Understands my issues and where they can help 34% 43% 38%
Can relate to my role and responsibilities in the company 38% 29% 34%
“When you meet with a vendor salesperson, how often are they prepared for the meeting with you in the following ways?”
Source: Forrester Research, Inc. (n= 166 North American enterprise business and IT decision makers)
What Are They Receiving?
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#SMH
57© 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview
Sales Enablement:The delivery of the right information to the
right person at the right time in the right format and in the right place to assist in moving a
specific sales opportunity forward.
58© 2005 Paramount Pictures // 2013 IDC Sales Enablement Overview
Salespeople spend 7+ hours/week looking for information to help them prepare for sales calls.
50% of sales tools are pushed via email and only
10% is made available in a useful format.
Is it any wonder that one of three deals is lost due to the lack of sales preparation?
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But I Want “A” Leads!
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“A” Leads are out there looking for
“A” vendors.
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6 Key Takeaways:
1. Buyers are in control 2. Know your why 3. Align sales/marketing 4. Understand “value” and go the extra mile 5. Stop the B.S. and execute 6. Enable sales
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YES! The Customer Revolution IS Here.
Isn’t it nice to feel wanted?
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Scott Salkin
Founder & CEO
[email protected]@scottsalkin@idstm
IDS is a business-to-business (B2B) marketing and lead generation firm whose mission is twofold:
1. to help technology companies and startups grow through smart, impactful sales and marketing, and
2. to help our local community and economy grow through technology and entrepreneurial advocacy and mentorship.
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Avnet Demand Creation ServicesJohanna Hauck, Director, Marketing
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9401 Leads Distributed to
Partners Fiscal YTD
1500 + Leads converted to revenue in Fiscal YTD
$67m leads converted to revenue in Fiscal YTD
202 Unique partners
participating in campaigns
306 new campaigns Fiscal YTD
1m + unique contacts in
Avnet databases
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Avnet’s arsenal of Demand Creation campaigns include:
• Lead Nurturing and Distribution • List Acquisition and Management• Prospecting Strategies • Search Engine Optimization• Target Market Analysis• Telemarketing• Vertical Programs• Customizable programs to suit your
needs
• Account and Industry Profiling• Campaign and Program Development • Content and Creative Development• Database Management • E-mail and Direct Mail• Event Planning and Support • Executive Door Openers• Landing Pages, Blogs & Webinar Design
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If you are interested in learning more about
how Avnet can help solve your demand
creation needs, please contact your Avnet
sales representative.