rethinking growth in the digitally disrupted age of the customer
DESCRIPTION
1. Growth Mindset: Direct your focus to what the future will look like. Anticipate likely changes in your customer's needs and preferences to interact with your business. 2. Differentiate or Die: Help your customer understand why and how you are different to other providers in your product/service category. 3. The Customer Adoption Cycle: Create a customer adoption cycle for your business and align all your sales, marketing and support customer interactions at the appropriate steps of the Adoption cycle. 4. Disrupt the Status Quo: People will make key decisions when they face immediate negative consequences. The role of Sales & Marketing’s is to take the customer out of the comfort and complacency of the status quo and let them 'wallow' in the negative future. 5. Tipping the Funnel: Convert your customers into your un-paid sales force.TRANSCRIPT
What is your Growth Strategy?
Growth strategy I
Growth strategy II
Opportunity or Threat?
Digital Disruption
Drivers of Digital Disruption:
1. Mass Adoption of Digital Technology
2. The Age of the Customer
3. B2B-> B2C -> The Engagement Economy
Focus on the future
Think outside the boxFocus on tomorrow’s customers
Horizon 10 - 6 months
Horizon 26 - 12 months
Horizon 312 - 36 months
Thinking at 3 Time Horizons
Get it right
Get it wrong
OLD THINKING
NEW TECHNOLOGY
FAIL
X
=
Think outside the box
Think outside the box
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Growth strategy
Where are you on the curve?
Where are you on the curve - ahead or behind, which is the essence of strategy.
Behind:
If you are behind the curve and chasing the market
then you have ceded a great deal of control and you
must have the ability to execute and be very agile in
execution. Your bets are defined. Your strategic
posture is reactive and defensive.
Ahead:
If you are ahead of the curve you are trying to drive
the market, which requires a very different agility -
there you require a set of controlled bets in execution
with the ability to constantly probe the frontier and
execute on success. Here you are reacting to yourself
and your direction instead of where others have been.
Disruptive Opportunity Matrix
ExtendWhite
Space
Defend ExtendCurrent
New
Current New
Source: Create Marketplace Disruption by Adam Hartung, Pearson Education, Inc. 2009
Products
Customers
You can’t teach an old dog new tricks
Growth Mindset1
Differentiate or Die2
The Customer Adoption Cycle3
Disrupt the Status Quo4
Tipping the Funnel5
Growth Mindset
Product
Place
Price
Promotion
4P's
Solution
Access
Value
Education
SAVE
Educate
Inspire
Create a sense of urgency
Inspire Gen C Customers
The mobile generation
Growth Mindset1
Differentiate or Die2
The Customer Adoption Cycle3
Disrupt the Status Quo4
Tipping the Funnel5
http://tabernaclefortoday.files.wordpress.com/2012/03/cart_before_the_horse.jpg
Cart before the horse
Build a better mouse trap
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“If I had asked people what
they wanted, they would
have said faster horses.” - Henry Ford
1863 - 1947
3 Levels of vision
Basic Product/Service:• Technology• Price performance• Product/Service quality
E2E Customer Experience:• People• Perceived value• High touch• Exceed customer expectations• Delight and astound customers
12 Support Services
3E2E
Customer Experience
Differentiation: 3 Levels of Perceived Value
BasicProduct/Service
Support Services:• Levels of support• Quality of service• Systems• Processes
Your Products &
Services
Price vs Value
Products ServicesExperienceCustomer
Growth Mindset1
Differentiate or Die2
The Customer Adoption Cycle3
Disrupt the Status Quo4
Tipping the Funnel5
The problem is that
customers don’t buy
the way we sell
The Buying Decision Process
“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
Search
Find
Qualify
Try
Buy
Activate
Manage
Up-sell
Support
Refer
The Customer Adoption Cycle
Growth Mindset1
Differentiate or Die2
The Customer Adoption Cycle3
Disrupt the Status Quo4
Tipping the Funnel5
“Fire your sales force”
The old Golden Rule in Sales was:
Find out what your customers
want, and give it to them.
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:
Capture their imaginations
“Reasons lead to conclusions.
Emotions lead to actions.”- Saatchi & Saatchi
Growth Mindset1
Differentiate or Die2
The Customer Adoption Cycle3
Disrupt the Status Quo4
Tipping the Funnel5
Tipping the Funnel
Clients: Actions:
Tipping the Funnel
Audience 2
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
Social Media
1. Growth Mindset
2. Differentiate or Die
3. The Customer Adoption Cycle
4. Disrupting the Status Quo
5. Tipping the Funnel
Quick Review:
4Ps => SAVE: Solution, Access, Value & Educate
Differentiation: 3 Levels of Perceived Value
Turn customers into your unpaid sales force
Align all Sales & Marketing actions
Fire your Sales Force
52
• The client has changed
• The buying process has changed
• The Sales Cycle -> The Customer’s Journey
• Market segmentation -> Buyer personas
Digital Disruption = 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 TransformationDigital
Disruption
Massive
Change=
Get it right
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David R EdniePresident & CEOSalesChannel Europe
Ph: +33 676 60 09 25 (FRA)
Email: [email protected]
Website: www.saleschannel-europe.com