customer engagement: solving the gap between buyer ... · customer engagement: solving the gap...

Customer Engagement:

Solving the Gap between

Buyer Preferences and

Seller Behaviors

@tamaraschenk | Research Director

September 18, 2018 | Denver

© 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED.

The Modern Buyers

Build on their B2C

buying experience

Expect outstanding

CX in every

interaction

Are more, not always better informed

Don‘t waste their

time for unprepared

salespeople

Want to learn what

they don‘t know,

in their context

2


Buyers Do a Lot on Their Own

3

26.0% 24.0% 10.0% 8.0%29.8%

Identify &

Clarify Needs

Identify

Solutions

Evaluate

Solutions

Resolve

Concerns Negotiate

2.2%

Implement

wait until they have

identified their solutions

70.2% wait until after they have fully defined needs

44.2%

only lock

down the details20.2%

© 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED. 4

90%

Percentage of

buyers willing

to engage

sellers earlier

Buyers are willing to engage sellers earlier,

if the buying scenario is:

New to them

Complex

Risky for the

organisation

Risky for

them

At least one of these

criteria can be applied to

almost every opportunity

However, They are Willing to Engage

Sellers Earlier


The Issue Why They Don’t Do it More Often…

5

43.0%

35.4%

33.6%

23.0%

#1

#2

#3

#9

Experts from their

industry or third parties

Vendor website

Events, conferences

Salespeople

Salespeople are seen

as salespeople...

NOT as problem solvers!


Buyers’ Preferences Are Not Surprising

6

Understand my

business and role

Excellent

Communications

Provide insights

and expertise

Focus

on post-sale

Preparation is

mandatory

Communication

skills matter

The hard part:

Perspective

Developing the

established

relationships


1 Buyers’ Preferences

2

3 Customer Engagement:

Status and Impact on Sales

Performance

4 How to Make It Happen

The State of Sales Enablement 2018

Tamara SchenkResearch Director at CSO Insights,

The Research Division of Miller

Heiman Group

Twitter: @tamaraschenk

LinkedIn:

http://www.linkedin.com/in/tamaraschenk

Email: [email protected]

Agenda



Clarity Step 1: Sales Enablement Defined

8

WHAT

?What Sales Force Enablement — A strategic, collaborative discipline

?Why designed to increase predictable sales results

?How by providing consistent, scalable enablement services

?Whom that allow customer-facing professionals and their managers

?Where to add value in every customer interaction.


Implementing Is Polishing A Rough Diamond

9

Source: Oriana Jewels

Imagine

enablement

as a rough

diamond.

A rough

diamond

has to be cut

and polished

to shine ...

...and that requires a strategy


Clarity Step 2: The Clarity Model

10

Helps you to cut and polish

all enablement facets

based on YOUR context!

Allows you to create a

strategic enablement

discipline


Enablement Growth Yields To Maturity.

Overall, the fast-growing

movement comes to a plateau!

Highly relevant in

organizations > $250M

Highly relevant in

selected industries

Organizations with a Dedicated Sales

Enablement Person, Program, or Function

19.3%

22.6%

25.5%

32.7%

2013

2014

2015

2016

59.2%2017

61.0%2018


Top Enablement Goals:

Driving Revenues and...

12

44.6%

42.0%

35.2%

28.3%

28.0%

27.0%

23.0%

20.4%

Sales enablement

goals are aligned to

the sales leaders’

goals

Increase win rates of forecast deals

Increase new account acquisition

Increase existing account penetration

Reduce salescycle length

Increase averagedeal size

Decrease new salesperson ramp-up time

Increase availableselling time

Decrease new salesperson ramp-up time to full


How Successful Is Sales Enablement?

13

55.5%

4.3%

11.3%

4.1%

24.7%

Met

some

expectations

Met the majority

of expectations

Met or exceeded

all expectations

No major initiatives

Met a few

expectations

Enablement is

getting better,

slowly, but steadily:

The group that met a few

expectations decreased

from 10.0% to 4.3%

The group that met some

expectations represents

the majority (55.5%)

The group of successful

organizations declined from

34.6% last year to 28.8%


Mixed Results

14

Less than a third

of organizations

are highly effective

0%

10%

20%

30%

40%

50%

60%

70%

80%

Met orExceeded allExpectations

Met theMajority of

Expectations

Met SomeExpectations

Met a fewExpectations

No MajorInitiatives

Meeting Expectations and Quota Attainment

Meeting Expectations Quota Attainment

Doing nothing is no

alternative: leads to

extremely bad results

Majority achieved

average results which is

a dangerous place to be!

28.8%

55.5%

Study‘s average quota

attainment: 53.7%

55.5% 55.9%


Primary Enablement Services for Salespeople

15

Changes within

the top three

enablement services:

Sales process

improvements now

on position 5

Content services now

new within the top 3

Coaching more important

Proposal development

Sales Training Services

Sales tools (value

justification/ROI tools, etc.)

Content Services

Coaching

Sales process

improvements

Onboarding new hires

CRM/enablement

technology management

Competitive analysis

68.1%

58.5%

52.0%

50.9%

49.6%

46.3%

37.3%

22.9%

17.7%


Customer Engagement Defined...

Customer

engagement

= how organizations and their customer-facing

professionals get in touch with their customers

along their entire customer’s path.

The goal is that every interaction with customers,

regardless if with or without human interaction, is

perceived to be relevant, valuable and

differentiating by the customers.


... And Its Role Within Sales Enablement

That’s what sales enablement’s does:

Engaging, equipping and empowering customer-facing

professionals to be valuable, relevant and differentiating

in every customer interaction

Outstanding customer engagement

leads to the ultimate enablement goal:

Improving predictable sales results

Customer engagement


Customer Engagement In Context

1.

Customer’s

Path

2.

Customer

Engagement

3.

Customer

Experience

Improving

predictable

sales results


Aligning Enablement Services

To The Customer’s Path to Drive CX

19

44.4%

42.0%Apply this practice and

experience better results

Fully AgreeDisagree Neutral/Somewhat Agree

42.0%13.6%

The majority has still

some work to do58.0%


8.1%

...And How It Matters

20

Average win rate: 49.5%

53.6%

47.9%

42.1%

Agree

Neutral

Somewhat

Agree

Disagree

Aligning Enablement Services to the Customer’s Path and Win Rate

This practice

can improve

win rates by

compared to

the average

The costs

of doing

nothing are

higher

decline

compared

to average!

14.9%

*average win rate:49.5%


Customer Engagement Practice:Content Tailored To Role, Challenges and Outcomes

54.7% 23.9%21.4%

*compared to average win rate of 49.5%


8.9%*Improves

win rates

by

Decline

by-16.6%*


Implementing Tailored Content

22

Awareness BuyingImplementation

& Adoption

Customer’s Path

Future Vision

of Success

Best Buying

Option

Deliver and

Leverage Value

Customer-Facing

Content

Customer-Facing

Content

Customer-Facing

Content

Enablement Content

Playbooks, Guides, Scripts and more

Training: Product, Skills, Methodologies,

Process Includes supporting training content

Coaching: Training and Content

to Develop Coaching SkillsFor Managers

For Customer-

facing Pro’s

Sales Goals

Customer-facing

Internal


Customer Engagement Practice:Tailored Value Messages

55.4% 25.0%19.6%



11.6%*Improves

win rates

by-16.0%*

Decline

by


Tailoring Value Messages

24

Awareness BuyingImplementation

& Adoption

Future Vision

of Success

Best Buying

Option

Deliver and

Leverage Value

Customer-Facing

Content

Customer-Facing

Content

Customer-Facing

Content

Value

Hypothesis

Specific Value

Proposition

Value

Confirmation

Playbooks, Value Messaging Guides, Scripts, Tools

Training: Product, Skills, Methodologies, Process

Customer’s Path


Customer Engagement Practice: Leveraging Social Media

We effectively leverage social media and share valuable content with prospects and customers

45.5% 24.7%29.8%



5.3%*Can improve

win rates by-10.7%*

Can decline

win rates by


Leveraging Social Media Effectively

26

Critical

success

factors

Formally aligned social selling

strategies between marketing

and sales (only one-fifth have

that): If so, win rates can be

improved by 15.3%

Social selling steps have to be

integrated in processes and workflows

Leverage Social CRMs and

social productivity tools

Social selling

is connecting,

engaging,

listening...

and requires

coaching.


What’s Missing?

27

No content

without

training

Learning how to apply the newly

tailored content services

Learning how to coach

salespeople accordingly

No training

without

coaching

Adjust coaching program to ensure

that sales managers focus their

coaching efforts on this initiative

Develop related coaching skills for

sales managers and sales coaches

to ensure reinforcement and adoption


Sales Coaching Matters

28

57.7%

54.7%

48.1%

43.9%

Dynamic

approach

Formal

approach

Informal

approach

Random

approach

16.6%

11.3%

10.5%

40.1% apply a formal or

dynamic coaching approach

with huge impact on win rates

Dynamic Improvement*

Formal Improvement*

Random Decline*

*compared to average win rate of 49.5%*average win rate:49.5%


Communication and Change

29

Communication

Strategy

What & How & When

The Change Program

Doing it!

The Change

Leadership Approach

Why

The Change Story


Your Takeaways

30

90% of buyers would

engage salespeople earlier

in specific situations

Salespeople are only for 23%

of buyers perceived as

problem solvers

Four defined preferences:

know my business,

communicaion skills, insights

and perspective, focus

on post sale

Enablement growth yields

to more maturity, slowly

but steadily

Highly relevant in larger

organizations and selected

industries

Enablement goals are

aligned to sales leaders’

goals

Enablement’s path

to improved and

predictable sales results:

Customer’s path

Customer Engagement

Customer Experience

Practices have significant

impact on performance

No content without training:

salespeople need to be

engaged, equipped and

empowered to apply new

content, new messaging, etc.

Formal sales coaching

approach to drive

reinforcement and adoption

Communication and change

leadership are essential

to be effective

2Sales

Enablement2018

1

Buyer’sPreferences

3

Customer Engagement

4

Making itHappen


Questions

Answers&

Tamara SchenkResearch Director at CSO Insights,

The Research Division of Miller

Heiman Group

Twitter: @tamaraschenk

LinkedIn:


Email: [email protected]



Further Information

32

Sales

Enablement

2018 Sales

Enablement

Study

2018 Buyer

Preferences

Study

Follow us @

CSO Insights

COMING

SOON!!!

https://www.csoinsights.com/

https://www.amazon.com/Sales-Enablement-Master-Framework-Productive/dp/1119440270

https://www.csoinsights.com/2017-cso-insights-sales-enablement-optimization-report/

https://www.csoinsights.com/the-growing-buyer-seller-gap-results-of-the-2018-buyer-preferences-study/

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