Revolutionary Marketing and Sales Strategies

Technology Quad of Sales Effectiveness

I'd like to get readership feedback on the below diagram (keep in mind this diagram is only intended to represent the technology piece of people/process/technology components):

• What is your interpretation of the message?
• Are you in agreement with the message?

Download SalesSuccessQuad.ppt (5688.0K)

Well Timed, Targeted Marketing

Todd Piett of Unica Corp. has concisely articulated a subject that is a huge topic of conversation at every marketing and sales related event I have been to in the past several months.  The topic being keeping your marketing efforts:

• Relevant to resolving a specific, current decision-maker's issues
• Virutal distribution of this messaging throughout the organization
• Continuous, virtual, closed-loop learning and fine tuning

Keeping the marketing and sales organizations aligned on resolving a vertical and role specific current issue is a burning platform in almost every organization that I have spoken to.  Those who feel they have it licked are typically letting their own pride cover the reality of the situation.

Read Todd's article below:

Link: destinationCRM.com: Transforming Your Marketing into a Valued Customer Service.

When Relationships Rule The Roost

In previous posts, I have articulated that sales typically do NOT occur between companies ... sales occur between people.  CRM tools have unfairly been blamed in not generating sales.  If it is your expectation that a CRM tool will increase sales you are bound to be very disappointed.  The only real boost to sales that CRM can possibly have is in the area of productivity.  CRM helps us:

• Track the quantity of sales pipeline (not quality ... which is why sales forecasting is still such an issue across the board)
• Track and manage activities (meetings, followup, mailings, calls, etc.)
• Track contact information and history

All of these CRM capabilities are critical to success (remember though we used to do that on index cards).  And yes ... they will increase sales from the perspective that we're not missing followup dates and our daily activities are more structured which can lead to more sales due to better time management.  But if we are honest with ourselves, that is not THE major impact to sales that many expect when implementing CRM.  Also important for you managers out there ... your sales people don't necessarily view the CRM/SFA tool as anything that benefits them ... they see it as a tool for you to manage them ... just ask them.

Technology will never replace the need for making that human connection with the people we sell to.  People buy from people who they perceive have high integrity, high value add, high trust, excellent listening skills ... someone who can show them that they "get them".  A sale will only occur when your company's solution intersects with a specific decision-makers issue AND you can, without question, demonstrate the value of that intersection.

Jason Compton of Destination CRM has written in more detail about this below:

Link: destinationCRM.com: No-Tech CRM.

RELATIONSHIPS WILL ALWAYS RULE THE ROOST!!!

B2B CRM Success Factors

The below article is excellent at pointing out the holes in CRM.  Once again, it's a gap in what CRM can, and is designed to deliver versus at the needs of the business.  Most of the concerns/questions in this article are mis-directed and are a result of mis-aligned expectations. Scroll back through my archives as I have addressed this multiple times.

Link: CRM Success Factors destinationCRM.com: You've Got Questions, We've Got Answers.

90% Of Most Influential Need Improved BI

A just-released study by my friends (and ex-employer) at Accenture states the obvious ... the need for greater BI ... but the scale of the issue is what is surprising ... 90%.  Almost all major organizations would benefit from improved BI.  What about the mid-tier players?  I would "assume" the percentage is even higher.

To see why this may be so look at the poll results in the upper right hand side of this web page.

Link: Companies Need to Improve Business Intelligence Capabilities to Drive Growth, Accenture Study Finds.

The McKinsey Quarterly Chart Focus Newsletter

This article by McKinsey shows an alarming failure rate of effective merger management.  McKinsey points out that this high failure rate of mergers is due to over-estimation of synergies.  While that is definitely, true, it is also related to poor strategy development and the timeliness/quality of the execution. 

Link: The McKinsey Quarterly Chart Focus Newsletter.

Prospect People Not Organizations - Part 6 of 6

The key factor to bear in mind at all times is to understand how your offering(s) intersects with the executive's priorities. If you can show them a line item in their budget that will be eliminated you will have their ear. By demonstrating a quantifiable effect that your offering will have on the bottom line you stand a chance of being that first company which kick-starts a major enterprise project, leaving your competition to pick in vain at the project managers. Don't sell on their fear but be aware of it. Remember, their dislike of being beaten by the competition to the detriment of their market share and, crucially, their profits, is your opportunity. To reiterate, "decision makers buy because they feel understood, not because they understand!"

Prospect People Not Organizations - Part 5 of 6

With this picture of the executive's world firmly implanted in your mind, now it’s time to use my favorite sales tool … a mirror. When you look in the mirror, as if you were that executive, would you view yourself as someone who would generate an acceptable “return on time invested”? Why or why not? This is the true acid test. If you can answer these questions in detail you have a much greater probability of winning that executive’s time. If not, it is highly likely that you will be quickly thrown under the bus and viewed as a quota-carrying salesperson. Ready? Here’s the test (good luck):

• Can you intelligently discuss your client's latest industry trends, specific to their vertical and their role in that vertical?
• Can you talk in language unique to the client's vertical market and their role?
• Do you understand what the executive's role is within his/her company? Overall responsibilities?
• What are the top 10 issues this role is currently dealing with? What keeps them awake at night? What are their hot buttons?
• How is this person measured? What gets them promoted/fired/bonuses?
• What other roles in the client's organization are impacted by the above issues and how?
• Can you build value for your solution that solves a current issue that executive is dealing with?
• If not, are you helping them find a solution that will address their issues ... even if the solution is not your company's?
• How often do you start your selling efforts at the executive level?
• Do you have overwhelming credibility early in the sales cycle?

Prospect People Not Organizations - Part 4 of 6

Just close your eyes and put yourself in the executive’s shoes. The senior-level executive’s world has changed considerably over the last several years (compliance, accountability, Sarbanes-Oxley, right-sizing). Never before in history have they been more personally accountable, under more pressure, had fewer resources, been busier, have higher expectations thrust upon them, and have less budget to work with. Bottom line is they need more help than ever and have less time than ever. What a frustrating situation to be in. Any time they spend they truly must view as an investment, where “return on time invested” is the key metric. The executive has to be very finicky and quick to judge about whom they grant access to their most valuable asset, their time.

Prospect People Not Organizations - Part 3 of 6

We must not turn our sales team into business/financial analysts, but in order to create differentiation your entire organization, as a whole, must be able to:

• Understand executive buying motives ... what is keeping an executive awake at night?
• Understand the issues and language of the specific vertical market and role they are selling into
• Craft messaging and solutions that resonates with, and addresses, that executive's issues
• Corral support from other functional buying influences within the pursuit by having a better understanding of their roles and how they are impacted by these issues
• Align and enable 360 degree communication and feedback between Marketing, Sales and Channel Partners (if applicable)