B2B Marketing Exchange - sales and marketing
- 1. The Sales Leader Lab Proven & Actionable Programs to Directly Impact Q4 Tony Wiedenski Sales Growth Consultant RevUp Sales [email protected] www.revup-sales.com Michael Phelan Principal & Founder Go-To-Market Pros [email protected] Gotomarketpros.com +
- 2. Introduction + Michael Phelan Principal & Founder Go-To-Market Pros Tony Wiedenski Founder, Sales Growth Consultant RevUp Sales
- 3. 6 Ways to Book More Discovery Meetings +
- 4. 680,000 BDRs finding it harder to get meetings Reps are getting zero training on how to get more meetings
- 5. 30% Drop: Discovery Meetings Less Meetings: Less Opportunities "83% of buyers buy from the first vendor they reach out to"
- 6. 50% Drop: Lead-to-meeting conversion
- 7. Sales & Marketing Clutter Increasing
- 8. Business Climate Tightening & Changing “Corporations are looking to purchase products & services that positively impact business performance in 2023 (cost savings, process efficiencies, enhanced profit, Incremental revenue) “Buyers are keenly interested & influenced by the performance of their best-in-class peers, They have a compelling desire to bridge relevant performance gaps” Need to move to a Jobs-to-be-Done Framework
- 9. Top BDRs book most of their own meetings independently Anything they get from marketing is ”icing on the cake” Proactively leverage 20 + techniques to get meetings (none are scaled) Select companies know how to create a programmatic approach Results of best practices research
- 10. “It’s just the economy, discovery meetings will come back” “It’s the dark web, buyers do not want early-stage engagement” “Our buyers no longer want discovery meetings” “We engage buyers later in their journey, meet them where they are” “This is a sales issue, talk to them” ”I promised our CEO that we gain back by increased conversion” “Our new sales tech purchase will solve for this” “Late-stage-only” vendor engagement favors historical market-leader Sales and Marketing executives offer excuses for failing to address a 30% decline in discovery meetings during 2024
- 11. •Sales & Marketing Leadership needs to offer “Programmatic Prospect Engagement” •Not about messaging, it’s about a “value exchange” •Discovery Meetings need to be led by “buyer-value” •Buyers are evolving but they have common “unmet needs” •Tell your buyers something important they “do not know or see” •MQLs & SQLs needs to change: “Interaction & discovery meetings” •Buyers are motivated to “bridge peer performance gaps” •Buyer Intent does not directly equate to desire to meet you •It’s not about your competitors, it about theirs Implications summary
- 12. B2B Marketers: Pedaling harder & going slower Need a new approach!
- 13. Marketing direction: double down on Q4 Execution
- 14. Proven Programs: Interaction & Discovery • Moderated Best Practices (1) • ABM Referrals & Introductions at scale (2) • Benchmarking & Path Forward Consulting (3) • Score/Plateau • Performance Gaps vs Peer Competitors (4) • Become an Analyst for your Prospects (5) • Prospect Engagement Questionnaires (6) • Prospect/Customer Expert Podcasts (7) • Customer or Employee VOP Pain Research (8) • VIP Dinners, Customer Panels & Round Tables (9) • Proprietary Research (10) • Become News (11-Recorded Future News/Daily) • Create a Prospect Community (12) • Analyst or Expert Access & Introductions (13) • Before & After CX (14) • Day-in-the-Life-Employee/Customer (15) • Executive to Executive Outreach (16) • Meeting Technology (17-Calendly & Chatbots) • Multi-Step Content Assets (18) • Audit & Problem Identification (19-Webgrader) • Hands-On Discovery Workshop (20) • Leaving Money-on-the-Table (21-Staples) • Industry Ranking (22) • Certification (23) • Become the Prospect’s Advocate (24) • Offer New Operating Processes (25-Hubspot) • Top Rated (26) • Custom Database with Purchase Triggers (27)
- 15. Moderated Best Practices: Exchange Solutions: 95% (1)
- 16. Benchmarking & Path Forward Consulting (3)
- 17. Performance gaps vs peer competitors (4) Prospect’s Customer Perfective Versus
- 18. Before & After Results or CX (14)
- 19. Audit & Problem Identification (19-Webgrader)
- 22. Custom Database with Purchase Triggers (27) 5X Increase in Meetings per BDR Program -Prospects with demo buttons converted better -Scraped prospect websites with demo buttons -Overlay data for those hiring BRDs -Overlay data for those seeking to ramp demos -Augmented prospect contact list
- 23. 5 Ways to Improve Win Rates +
- 24. 60% 20% 85% Average close rate in B2B sales Deals lost to no decision / no response Time spent evaluating a purchase without a sales person present State of B2B Sales Source: Aggregated company data from 23 companies & Gartner
- 25. Most deals lost to indecision + extremely limited time with buyer = Sellers need to deliver value on every call/interaction
- 26. CFOs and Other Decision Makers Ask… 2 1 WHY do we have to do this? WHY can’t we do it on our own, with what we have? 3 WHY do we have to do it now?
- 27. Slight adjustments = significant results
- 28. 5 Ways to Improve Win Rates 1 Why are they here in the first place? What do they need to accomplish? What is preventing them from achieving their goals/initiatives? What problems, and serious impact, could occur? Move beyond the product, focus on why change
- 29. Buyer Information about YOU Information about THEM - Some product info from website - Pricing (potentially) - Use cases - Research & white papers - Reviews - Goals and priorities - Competitive threats - Systems, teams, process, and people in place today - Pain & problems causing negative impacts - KPIs and metrics - actual vs goal - Decision criteria to evaluate and implement change - Knowledge of the internal buying process and who needs to be involved Product/Seller 👤 - Detailed product info (features) - Actual pricing, discounting - Implementation & training steps - Internal sales process - Industry & type of business - Potential competitors - Potential priorities (if public) - Info gathered on social media Will this product/service help me… - Solve a problem I can’t solve on my own - Achieve an outcome I can’t achieve today with what I have How can I close this sale?
- 30. The LESS you know about the BUYER, the MORE you rely on the BUYER to decide if they should buy
- 31. 5 Way to Improve Win Rates 2 Instead, discuss deals using objection information and objective data discussed with and confirmed by the buyer Remove “feelings” from the sale and discuss facts Stop accepting subjective information in deal and pipeline reviews
- 32. SUBJECTIVE “Great meeting, great demo” “Really good prospect” “They are dealing with a lot of issues” “They don’t have a way to do X…” OBJECTIVE “5 support issues per day, typically X, causing Y, preventing them from Z” “They don’t have location-data and cannot target the right customers at the right time, causing…#”
- 33. 5 Ways to Improve Win Rates 3 Put every deal through the same stress test Require a minimum threshold for a deal to be forecasted MUST also serve as a coaching framework for your reps Use a repeatable deal framework and stick to it
- 34. Each piece scored 0.0 missing 0.5 partial 1.0 complete 4 total “points” If you don’t have something, strive to get this information The higher the score, the better chance to close Minimum of 2.5 to be forecasted Example…4-Point Deal Forecasting (1pt) Solution Fit Can you pinpoint which features will fix their pain & problems (1pt) Business Case Is there a quantified business case for change? (1pt) Committee Involved Have you identified the decision committee and are you engaged with each person? (1pt) Agreed Timeline Have you laid out the timeline for when the buyer has to decide and what needs to happen along the way?
- 35. 5 Ways to Improve Win Rates 4 Use what you learned and describe exactly how you fix their pain/problems Wait as long as possible so you can make the best recommendation Sometimes, needs to happen soon, but pivot back to the customer Rethink discovery - most important part of the sales process
- 36. Messaging Alignment - Know What You Are Looking For Solution List all services, products, and.or major features you sell Pain Problem Impact What specific pain(s) does each service, product, or solution fix directly? Because those pains exist, what serious problems are occurring, or could occur? What could happen if these problems aren’t fixed? Competitors Internal Threats How do you solve the pain/problems different from your competitors? How might the organization or individual try to solve these pains/problems on their own, with what they already have?
- 37. 5 Ways to Improve Win Rates 5 Mimic the behaviors of professional sports teams, and other top performers in the field Film review and coaching are CRITICAL of their success to maintain high performance Safe space to do it and to continuously improve Cultivate a high-performing culture that embracing coaching
- 38. (1) Move beyond the product, focus on why change 5 Ways to Improve Win Rates (2) Stop accepting subjective information in deal and pipeline reviews (3) Use a repeatable deal framework (i.e. 4-pt example) and stick to it (4) Rethink discovery - most important part of the sales process (5) Cultivate a high-performing culture that embracing coaching
- 39. Next Steps Company-specific session for you and your colleagues +
- 40. Q & A Ask Us Anything + Michael Phelan Principal & Founder Go-To-Market Pros [email protected] Gotomarketpros.com Tony Wiedenski Sales Growth Consultant RevUp Sales [email protected] www.revup-sales.com