AMA Marketing Effectiveness Online Seminar Series Becky Bjelopetrovich
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Transcript of AMA Marketing Effectiveness Online Seminar Series Becky Bjelopetrovich
1 Customer Message Management Forum 2005
AMA Marketing Effectiveness
Online Seminar Series
Becky Bjelopetrovich
American Marketing Association
2Customer Message Management Forum 2005
A wealth of information is available for marketing professionals at
www.MarketingPower.com
The #1 marketing site on the web
3Customer Message Management Forum 2005
Commonly Asked Questions1. How do I submit questions? 2. Will I be able to get copies of
the slides after the event?
3. Is this web seminar being taped so I or others can view it after the fact?
4Customer Message Management Forum 2005
Commonly Asked Questions
Yes
1. How do I submit questions? 2. Will I be able to get copies of
the slides after the event?
3. Is this web seminar being taped so I or others can view it after the fact?
Yes
Yes
5Customer Message Management Forum 2005
CMM Thought Leaderswww.marketingpower.com/cmm
Founding sponsors:
Associate sponsors:
6Customer Message Management Forum 2005
Introducing Today’s Speakers
Tim Riesterer President CMM Forum
Barry Trailer Co-Founder CSO Insights
John Orvos Founder Sell Masters
7 Customer Message Management Forum 2005
Feel the Rhythm Feel the Rhythm
Getting Marketing and Sales in step Getting Marketing and Sales in step with the customer buying cycle with the customer buying cycle
8Customer Message Management Forum 2005
AMA’s CMM Portal www.marketingpower.com/cmm
9Customer Message Management Forum 2005
Today’s speakers
Tim Riesterer Co-founder CMM Group
Barry Trailer Co-Founder CSO Insights
John Orvos Founder Sell Masters
10Customer Message Management Forum 2005
Message Maps and Gaps
• 100 CMOs/Marketing Executives surveyed• 70% - view sales messaging as a strategic
source of differentiation• 25% - satisfied with sales’ ability to deliver
#1 Concern: Decreased sales performance in the area of value and solution selling
11Customer Message Management Forum 2005
Executive Summary
• Sales messaging is a priority for CMO’s – but a largely untapped opportunity to date
• Relatively few of the companies who responded to our survey felt that they ‘got it right’
• There are several emerging ‘best practices’• Those companies who built a strong
messaging platform and process reaped compelling financial benefits
12Customer Message Management Forum 2005
Best Practice #1
• Invest in the development of messaging appropriate to value and solution selling– Customer problem-centric, not company product centric– Most companies do not have customer and/or market-
focused selling ‘playbooks’ – Requires re-orientation and investment
13Customer Message Management Forum 2005
Best Practice #2
• Work in partnership with the sales team to define messaging platforms – early in the content development cycle – and align with the sales process– Nearly 50% of our respondents had sales teams ‘involved
or very involved’ in message development
14Customer Message Management Forum 2005
Best Practices #3
• Provide sales teams a single web-based means to access important messaging information– Centralize the many disparate product and geographic
sources of product information– Provide thoughtful taxonomy and search tools to provide
quick access to relevant information
15Customer Message Management Forum 2005
Best Practice #4
• To enhance sales effectiveness, provide tools to help the sales team to customize messaging and collateral material to the particular opportunity– Up to 40% of a typical sales reps time is spent in pre and
post sales preparation and follow-up – Eliminates ‘rogue marketing’
16Customer Message Management Forum 2005
Best Practices #5
• Routinely and aggressively audit the usage and satisfaction of the sales team with the collateral, sales tools, and messaging platforms developed by marketing – Only 25% of companies report doing this well today
17Customer Message Management Forum 2005
The Payoff
• Do companies who have successfully developed customer-focused solution messaging programs outperform the market?
• Do sales teams who are confident in the
messaging outperform the competition?
CSO Insights looked at 1,300 companies to determine the impact of world-class messaging on key sales effectiveness metrics
18 Customer Message Management Forum 2005
Barry Trailer, CSO Insightswww.csoinsights.com
Can Sales and Marketing Dance without stepping on each other’s
toes?
19Customer Message Management Forum 2005
11th Annual Sales Effectiveness Benchmark Study
Surveyed 1,000+ Companies Worldwide• 50% US Organizations, 50% International• Small, Medium, Large Firms• Analyzed Performance Across 100+ Metrics• Assessed Role People, Process, Technology,
and Knowledge were Playing in Their Effectiveness Plans.
20Customer Message Management Forum 2005
Percentage of Reps Meeting/Exceeding Plan
The “Good News”
Sales Rep Performance vs. Quota
Under Quota41.2%
Met or Exceeded Quota58.2%
But are we working Smarter or just Harder?
21Customer Message Management Forum 2005
Percentage of: - Length of Average Sales Cycle- Number of Calls to Close- Win Rates- New Rep Ramp Up Times
The “bad news”…
Remained essentially unchanged.
22Customer Message Management Forum 2005
Ability to: -Generate Accurate Bid/Configuration-Create a Complete Business Case-Up-Sell & Cross-Sell
In addition…
Remained unchanged or declined.
23Customer Message Management Forum 2005
31.6%
17.7%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Voluntary Turnover Involuntary Turnover
Sales Force Turnover Rates
24Customer Message Management Forum 2005
New Sales Rep Time to Full Productivity
<3 Months8.3%
3 - 6 Months34.9%
7 - 12 Months29.2%
12+ Months20.8%
Don't Know6.9%
25Customer Message Management Forum 2005
Sales Effectiveness Components
Process
People
Technology
Knowledge
26Customer Message Management Forum 2005
“It’s OK if Marketing doesn’t’ provide Sales with proper
messaging—sales reps will just make up their own.”
27Customer Message Management Forum 2005
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
Dismal Poor Average Very Good World Class
Ability to Effectively Introduce New Products
All Responses
World-class CMM
28Customer Message Management Forum 2005
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
Dismal Poor Average Very Good World Class
Ability to Sell Value/Avoid Excessive Discounting
All Responses
World-class CMM
29Customer Message Management Forum 2005
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
<10% 10 - 25% 26 - 50% >50%
Percentage of Presentations Resulting in a Sale
All Responses
World-class CMM
30Customer Message Management Forum 2005
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
<20% 20 - 50% 51 - 75% >75%
Percentage of Proposals Resulting in a Sale
All Responses
World-class CMM
31Customer Message Management Forum 2005
SKM Usage Assessment - Sales Support Tools
1 2 3 4 5
Sample Phone Scripts
Sample Customer Letters
Needs Analysis Templates
Sales Process Information
Presentation Templates
Proposal Templates
Strategic Account Plans
User References/Case Studies
Objection Handling Insights
Competitive Analysis Insights
Value
Ease of Access
Completeness/Accuracy
32 Customer Message Management Forum 2005
John Orvos, Sell Masterswww.sell-masters.com
Marketing’s Moments of Truth
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Agenda
• Marketing’s “Moments of Truth” – Buyer-Centric Model
• What’s the problem for today’s sales force?
• What do Sales people need from Marketing?– A sales point of view
• Getting started
34Customer Message Management Forum 2005
BuyerBuyer SellerSeller
So, what’s the big problem facing your sales force?
35Customer Message Management Forum 2005
“I need to spend more time with those who can bring me the most value and less time with those who cannot.”
“I have a limited budget so I need to get the most value for every dollar.”
“I need someone who really understands my business and who is in it for the long term.”
“It’s not my job to educate the sales person.”
“I like to buy. BUT I hate being sold.”
…It’s aligning with tougher Buyer thinking
36Customer Message Management Forum 2005
“Our space is becoming more competitive all the time. How do I differentiate my company?”
“The prospect is making me run around in circles. When will they just make a decision?”
“It’s getting harder and harder to justify our price. How do I communicate the value?”
“I need to do a better job accessing and influencing senior level key decision makers.”
“I thought they were ready to buy. Now it’s just stalled.”
So, what is today’s Seller thinking?
37Customer Message Management Forum 2005
“I may have an issue to
solve”
“Which Solution do I
choose?”
“What if I make the
wrong decision?”
“I KNOW their INDUSTRY,
BUSINESS & other NEEDS”
“They DO need to take action.
Here’s a reason why”
“We are the best
solution/fit”
“We will make CERTAIN they’re
SUCCESSFUL”
Where is Buyer-Seller misalignment occurring?B
uyin
g M
ind
set
Bu
yin
g M
ind
set
Sellin
g P
rocess
Sellin
g P
rocess
“Is it worth my while to meet with a
sales person?”
“Do I need to take action now?”
“Do they really
understand my needs?”
“How do I sell this
internally?”
“I’ll show them what we’ve done for
customer X”
“We need to get a meeting with the
CXO”
38Customer Message Management Forum 2005
Misalignment at “Moments of Truth”
Pivotal points when things either get bogged down…or advance a sales opportunity”
39Customer Message Management Forum 2005
Getting in alignment at Moments of Truth
Buying MindsetBuying Mindset
REALIZEREALIZESEEKSEEK
CONSIDERCONSIDERBUYBUY
Gain Access
Selling ProcessSelling Process
Target/Research
Discovery, Validation &
FitNegotiation & Close
40Customer Message Management Forum 2005
How can Marketing help sales at the Moments of Truth?
Aggregate information and tell them everything you know
Provide on the “distilled points of intelligence”
OR
Result: Moves tribal knowledge into a meaningful strategic corporate asset that sales people can USE
With sales and marketing both trying to do the same thing… …What is the Sales person’s point of view to this question?
41Customer Message Management Forum 2005
The answer: Aggregate = “Aggravate”
Sales people are binary: Will this activity make $ or not?
Oceans of information• Mass information are
useless• Aggregating makes this
even more useless
Transform from Aggregating into Distilling
• Distilling it and organizing to be used during specific moments of truth
42Customer Message Management Forum 2005
Put an “SS” on your chest
Provide marketing muscle during a
sales person’s moments of truth
Only marketing has the discipline to organize this: • You’re a “thought” leader =
power – Power only buys from power
• Sales people will NEED you…if you can do this– They will not need you if you
aggregate data which goes unread
43Customer Message Management Forum 2005
Getting Started
How to transform marketing messaging & information into a distilled strategic
corporate intelligence asset for sales forces to use during their moments of truth?
44Customer Message Management Forum 2005
How do I know where to distill intelligence
Think like a “Sleuth” & Think like a “Sleuth” & interview your sales forceinterview your sales force
Detective work to interview your sales force
Willing to go extra mile for information
Returns to sources for updated intelligence & changes
Detective Peter Falk a.k.a “Columbo”
Detective Peter Falk a.k.a “Columbo”
Gets right out into the field
45Customer Message Management Forum 2005
Distilled Intelligence Asset #1
Target Buyer Challenges, Drivers and QuestionsTarget Buyer Challenges, Drivers and Questions
Who are the buying executives (titles) that we target? How are they measured for success? Why are they fired?
What are the top 3 challenges that each executive is facing currently? • For each challenge, what questions can your sales person ask “other people around this
targeted executive” to find out if this challenge is important to this executive?
• For each challenge, what are the best opening impact statement that a sales person can make “to that target executive” to get them interested in meeting with us?
Gain Access
Target/ResearchDiscovery,
Validation & Fit Negotiatio
n & Close
46Customer Message Management Forum 2005
What’s Their Key Decision CriteriaWhat’s Their Key Decision Criteria
Who are the buying executives (titles) involved in a decision?What are the 3 most important criteria for this executive to buy any solution?
Finish the sentence for this executive (title): “The vendor we select to partner with must have the following…”
What are questions a sales person can ask this executive about these “criteria”:• That will answer “why” they value these criteria?• To determine if they are motivated to buy any solution at all?
Distilled Intelligence Asset #2
Gain Access
Target/ResearchDiscovery,
Validation & Fit Negotiatio
n & Close
47Customer Message Management Forum 2005
ObjectionsObjections
What is a typical objection we hear? What is our best response to that?
Distilled Intelligence Asset #3
Gain Access
Target/ResearchDiscovery,
Validation & Fit Negotiatio
n & Close
48Customer Message Management Forum 2005
Company Strengths and WeaknessesCompany Strengths and Weaknesses
What are the three most important Strengths of our company? • What makes the company strong and what are the difficulties
we face when selling? What is our key market differentiator in this context?
Distilled Intelligence Asset #4
Gain Access
Target/ResearchDiscovery,
Validation & Fit Negotiatio
n & Close
49Customer Message Management Forum 2005
Competitive Strengths and WeaknessesCompetitive Strengths and Weaknesses
List competitors
What are our S&W vs. each competitor?What are their selling tactics? What landmines do they lay when they compete with us?What preemptive strikes can we do to neutralize these?
Distilled Intelligence Asset #5
Gain Access
Target/ResearchDiscovery,
Validation & Fit Negotiatio
n & Close
50 Customer Message Management Forum 2005
Thank you
For more information, please contact:
John Orvos
www.sell-masters.com
1-609-430-8357
Need a tool to bring this together?
Ask about Ask about MaestroMaestro
Thanks for your time and participation today!
To replay this webcast and access the slides (available October 11th):go to www.MarketingPower.com/cmm
To contact today’s speakers: Barry Trailer ,CSO Insights
www.csoinsights.com
John Orvos, SellMasters609-430-8357
[email protected] www.sell-masters.com
Tim Riesterer, CMM Forum, LLC
262-251-3726 [email protected]
www.customermessage.com
Questions for AMA: Becky Bjelopetrovich