trigger event selling & trigger event marketing statistics

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First in Wins! Craig Elias Chief Catalyst.

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Page 1: Trigger Event Selling & Trigger Event Marketing Statistics

First in Wins!

Craig EliasChief Catalyst.

Page 2: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 2

When is the BEST TIMING?

Page 3: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 3

Status

Quo0%Happy & Not Looking

Page 4: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 4

Chasing Status Quo Leads

“You can spend time

trying to move

someone so they

become interested but

in my book that’s

wasting time.”Linda Crawford

EVP Sales Cloud, Salesforce.com

http://bit.ly/WereAllInSales

Page 5: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 5

16% Searching for

Alternatives

Lead Lifecycle Management: Building a Pipeline that Never Leaks, 2009

Unhappy and Looking

Page 6: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 6 http://bit.ly/ChallengerTriggers - February 26th

Page 7: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 7

Get In Early

Page 8: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 8

Window of

Dissatisfaction™74%

Forrester: 2012 Buyer Insights Study

Unhappy and Thinking of Looking

Page 9: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 9

Michael Bosworth Says…

Requirements Company A Company B Company C

“COLUMN FODDER”

“Column A Enjoys a Huge Advantage”Customer Centric Selling: Second Edition - Page 16

Page 10: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 10

The Best Leads

Specific

People Or

Businesses

Ability To Make

A Purchase

Dissatisfied With

The Status Quo*

10X*Those recently dissatisfied with the Status Quo are up to10 time more likely to switch vendors

- Craig Elias

Page 11: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 11

Brute Force Does Not Work

Bit.ly/DestructiveSalesActivity

Page 12: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 12

The Tree of Discontent

Bit.ly/TreeOfDiscontent

Page 13: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 13

AffordFunnel Movers

JustifyFunnel Shakers

WantFunnel Fillers

Status

Quo

Window of

Dissatisfaction™

Searching for

Alternatives

Events That Trigger Dissatisfaction

Page 14: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 14

Interest

Trigger

Decision

Trigger

20,000 CONSUMERS

5 INDUSTRIES

3 CONTINENTS

http://bit.ly/McKinseyOnTriggers

* The Afford Trigger is not part of McKinsey’s original research

Afford

Trigger*

McKinsey Gets ‘It’ (2009)

Page 15: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 15 * Trigger Events are not part of Google’s original research

Trigger Event*

Google Gets ‘It’ (2011)

Page 16: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 16

GE Gets ‘It”

Beth Comstock

CMO & SVP

“It applies in both a

consumer

AND

a business-to-business context”

Page 17: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 17

“80%of B2B purchases are

unplanned and

unbudgeted”

bit.ly/BreakingOutOfTheFunnel

DemandGen Gets ‘It’ (2013)

Page 18: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 18

Fast Follow Up Is a Differentiator

0.6%In 5 minutes

or less

bit.ly/LeadResponseManagement

Page 19: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 19

Why Leverage Trigger Events

20%More reps make

quota

http://bit.ly/AberdeenOnTriggers

Page 20: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 20

31%Finding & keeping

customers was

their biggest

challenge

Page 21: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 21

The Power of Focus

Increase in close rate when you have a pipeline of

3X or less

http://bit.ly/PerfectFunnel-Sirius

32%

Page 22: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 22

Brute Force Does Not Work

35%Too much contactwas destructive tothe relationship

McKinsey Quarterly: The basics of business-to-business sales success, May 2010

1,200 purchasing decision makers in small, medium, and large companies in USA and Western Europe

Page 23: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 23

Top 10 Sales Initiatives in 2014

Page 24: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 24

49%Of executives put a

vendor on a short list

based on a cold call

Calling At The Right Time Works!

Page 25: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 25 Bit.ly/57PercentOfDecisionMade

57%of the buying decision is

made before a sales

person gets

involved

Ready To Buy Is TOO LATE!

Page 26: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 26

Rearch Out at the Right Time

Bit.ly/OutboundWorks

Page 27: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 27

The Power of Focus

more likely to make quota if they have pipelines of

3X or less

http://bit.ly/PerfectFunnel-Sirius

66%

Page 28: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 28

Losing takes too much time

68%Longer to lose a

sale than to win

Bit.ly/LongerToLose – Slide #9

Page 29: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 29

70%Want to talk to salespeople

during the ‘early stages’

of the buying process

Challenging The Challenger Sale

bit.ly/ProvideValueInEveryStage

IT Services

Marketing

Association

Page 30: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 30 How Clients Buy: 2009 Benchmark Report on Professional Services Marketing and Selling from the Client Perspective

25%Tire Kickers

25%Short Term

50%Long Term

75% Form Fills Buy In 24 Months

Page 31: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 31

75%

Took an appointment orattended an event based on a well-time outbound email or call

Bit.ly/OutboundWorks

Page 32: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 32

“75%made their decision

halfway through

the process.”Steve W. Martin

Heavy Hitter Sales

What's Wrong With Your Sales Training Program

Bit.ly/DecisionAlreadyMade

Page 33: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 33

Where Most Prospects Are

79%agree there is a problem... but are not committed to doing anything about it.`

Jolles.com

Page 34: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 34

Change in Executives

Spending $1Million+ onnew initiatives did so within

the first 90 days

80%

Page 35: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 35

Trigger Event Marketing Pays

80%Saving in direct

marketing costs

Page 36: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 36

Persistence Matters

80%Of company

revenues come from

those

who make four

or more callsSource: National Dry Good

Association (USA)

Page 37: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 37

80%Spent more

with those viewed

as strategic providers

Strategic Vendors Get More

Forrester: 2012 Buyer Insights Study

Page 38: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 38

The Power of Focus

20% close ratio

$150,000 sale

$2,220,000

93% Increase

Marketing Equally

Sized Segments

Segment

Size

Lead

Rate$ Value

200 9% $200K

200 7% $150K

200 5% $100K

200 3% $75K

200 1% $50k

1,000 5% $115

20% close ratio

$115,000 sale

$1,150,000

Vs.

Marketing Proportionally

Sized Segments

Segment

Size

Lead

Rate$ Value

400 9% $200K

400 7% $150K

200 5% $100K

1,000 7.4% $150

bit.ly/TripleYourTradeshowLeads

Page 39: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 39

Breaking Out Of The Funnel– DemandGen, 2013bit.ly/BreakingOutOfTheFunnel

97%A prospect

reached out and

initiated the process

Prospects Initiate The Sale!

Page 40: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 40

The Power of Focus

bit.ly/MicroTargetSelling

100%Increase in

growth rate

Page 41: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 41

Unbudgeted Buyers and Word Of Mouth

Unbudgeted buyers are:

• 2X more likely to act as a reference

• 75% more likely to share their experience on LinkedIn discussion forums

• 50% more likely to blog about their experience

Breaking Out Of The Funnel– DemandGen, 2013

bit.ly/BreakingOutOfTheFunnel

Page 42: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 42

The Power of Word Of Mouth

“…Word of mouth generates

more than twice the sales

of paid advertising…”

Bit.ly/WordOfMouthStats

Page 43: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 43

Trigger Event Marketing

500%Improvement in

response rateshttp://www.visiongraphics-inc.com/blog/post/what-is-

event-triggered-marketing

Page 44: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 44

Triggering Better Conversion Rates

bit.ly/PredictablePipeline

530%Improvement in

first call conversion

330%Improvement in

second call conversion

Page 45: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 45

Trigger Event Emails

600%Higher response rate

http://bit.ly/RightTime-vs-RealTime

Page 46: Trigger Event Selling & Trigger Event Marketing Statistics

© COPYRIGHT Craig Elias 2002 - 2015Slide 46

Ready to Buy

Those who recently experienced

a financial event and can now

afford your services, are ready

are now up to 8X more likelyto buy now

Page 47: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 47

5-Minute Form Fill Follow Up

900%Increase in contact rate vs. 60 minute follow up

bit.ly/LeadResponseManagement

Page 48: Trigger Event Selling & Trigger Event Marketing Statistics

Slide 48 Photograph by EwanNicholson.ca

ShiftSelling.com

[email protected]

+1.403.874.2998