1. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Using Sales Playbooks that Align with the Buyers Journey Presented by: Jennifer Earl, SVP, Sales and Services, Revegy Steve Haverdink, VP Sales, Revegy 2. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Welcome Revinar /rev-uh-nahr/ 1. a webinar series dedicated to sales planning and execution practices which drive revenue 3. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical Why all Sales Playbooks are NOT Equal Determining the Buyers Process How Playbooks Should Drive Alignment Major Take-aways Q&A Agenda 4. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Welcome Why the Buyers Journey is So Critical 5. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical Sources: CSO Insights, 2015 Sales Management Optimization Study Win Rates Are Dropping Deals Forecasted Close Closed Deals Were NOT What Was Forecasted 6. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL 1. Sales Process Implementation 2. Strong Understanding of the Customers Buying Process Why the Buyers Journey is So Critical Win Rates Drop But NOT True for All Companies So Whats the Difference? Source: CSO Insights, 2015 Sales Management Optimization Study 2 things stood out: 7. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical Sources: CSO Insights, SiriusDecisions, Marketing Sherpa The Buyers Journey is Rapidly Changing 57% 67% 76% The majority of the buying process is complete before a sales rep is engaged Buyers source the majority of their information online (where historically they got it from sales) B2B buyers prefer to receive content unique to their buying stage 8. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical todays buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach out to a vendor. Lori Wizdo, Principal Analyst Forrester Research 9. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical Sources : CSO Insights, SiriusDecisions, Marketing Sherpa 6out of 10buyers say chosen vendor delivered value Half of B2B buyers say rejected vendor did not provide value. 10. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical Sources: Marketing Sherpa Sales Teams are Ill-Prepared For the Change 29% 7% Percentage of sales reps who B2B customers perceived as adequately prepared for a first sales call Percentage of sales reps who will earn a second call with a B2B customer 11. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical Win Rates Have Dropped for Forecasted Deals Source: CSO Insights, 2015 Sales Management Optimization Study Buyers may be in an active evaluation mode even when they arent ready to engage with a sales rep. We better understand buying process so that BOTH sales and marketing are providing value along the journey. Preparation and demonstrating value along the entire process are critical to be in the game. 12. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why all Sales Playbooks are NOT Equal 13. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why the Buyers Journey is So Critical By requiring reps to document the actions they see buyers taking, digital playbooks can reinforce the alignment of the organizations sales process with the stages of the buyers journey. SiriusDecisions Research Digital Sales Playbooks: The What and Why 14. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Why All Sales Playbooks are NOT Equal Content-Driven Playbooks Execution Playbooks Buyer Journey Aligned Playbooks 15. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Determining the Buyers Process 16. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Understanding the Buyers Journey 80% of prospects willing to give feedback Source: PeopleMetrics Ask Them 17. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Critical Points of Collaboration Customer Agrees to Demo Funding Approved RFP Issued Executive Validates Need/Priority Notification of Short Listed Manger Review Session PO/Contract Received 18. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Critical Success Factor? Delivering Value Make Every Interaction Valuable for the Buyer Source: CSO Insights, 2015 Sales Management Optimization Study Behavior What it Means Responsiveness Reps follow up in a thorough, accurate and timely manner, before and after meetings. Preparation Reps do the required work for the meeting (i.e. getting up to speed on the business, delivering what was promised based on prior meetings/conversations, has all team members briefed and prepared, etc.). Listening Skills Reps ask insightful questions and actively listen to understand the issues and challenges driving the buyers needs. Knowledge Reps demonstrate an in-depth knowledge of solutions and services, and relate them to the buyers current business and needs. Unexpected Insights Reps provide value-added advice and guidance by adapting solutions, demonstrations and materials to reflect the unique situation of the buyer. Source: PeopleMetrics B2B Buyers Research 19. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Buyers Journey A Real Example The company is a global data and technology firm providing software and services to the insurance industry. Research Attended 2-3 Webinars Internet Research SMA (and other Sales Associations & Analysts) Vendor Demos Engaged with outside sales reps for capabilities demo VP Sales Empowered to make decision (kept the process simple) Well prepared to address our needs and show flexibility Used their own system Clearly defined implementation process Business Case Worked with us to provide information for our internal business case 20. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Dos and Donts Ask open-ended questions Seek to understand their specific buyers journey Use verifiable outcomes to validate that you understand where they are on their journey Continue to check for alignment DO DONT Make assumptions Put words in their mouth Attempt to conform the buyer to your sales process Assume the buyers journey may not take some detours 21. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL How Playbooks Should Drive Alignment 22. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Standard Sales Process Playbook 23. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Sales Playbook with the Buyers Journey 24. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Buyers Journey & Verifiable Outcomes 25. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Avoid the Pitfalls of Misalignment Risk of feeding the competition Inaccurate forecast and missed numbers Giving prospect content that they dont need (too early, too late, or wrong person) Being viewed as tactical vendor vs. strategic partner 26. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Summary & Major Take-aways 27. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL Major Take-aways Its a 2-way street collaborate! Ask, Listen, Discuss - dont tell. Identify how you can add-value at every step in the journey. Avoid rigid rules and allow for flexibility. Be prepared to change course with the customer if needed. Dont be a control freak! 28. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL A Brief Introduction to Revegy Revegys technology makes sales planning and execution happen. Intelligent Playbooks and Collaboration Tools for: Strategic Account Planning Opportunity Execution Territory Business Planning Channel Planning 29. COPYRIGHT REVEGY, INC. // PROPRIETARY AND CONFIDENTIAL We Serve B2B Sales Teams