Customer Engagement: Solving the Gap between Buyer ... · Customer Engagement: Solving the Gap...
Transcript of Customer Engagement: Solving the Gap between Buyer ... · Customer Engagement: Solving the Gap...
Customer Engagement:
Solving the Gap between
Buyer Preferences and
Seller Behaviors
@tamaraschenk | Research Director
September 18, 2018 | Denver
© 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED.
The Modern Buyers
Build on their B2C
buying experience
Expect outstanding
CX in every
interaction
Are more, not always better informed
Don‘t waste their
time for unprepared
salespeople
Want to learn what
they don‘t know,
in their context
2
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Buyers Do a Lot on Their Own
3
26.0% 24.0% 10.0% 8.0%29.8%
Identify &
Clarify Needs
Identify
Solutions
Evaluate
Solutions
Resolve
Concerns Negotiate
2.2%
Implement
wait until they have
identified their solutions
70.2% wait until after they have fully defined needs
44.2%
only lock
down the details20.2%
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90%
Percentage of
buyers willing
to engage
sellers earlier
Buyers are willing to engage sellers earlier,
if the buying scenario is:
New to them
Complex
Risky for the
organisation
Risky for
them
At least one of these
criteria can be applied to
almost every opportunity
However, They are Willing to Engage
Sellers Earlier
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The Issue Why They Don’t Do it More Often…
5
43.0%
35.4%
33.6%
23.0%
#1
#2
#3
#9
Experts from their
industry or third parties
Vendor website
Events, conferences
Salespeople
Salespeople are seen
as salespeople...
NOT as problem solvers!
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Buyers’ Preferences Are Not Surprising
6
Understand my
business and role
Excellent
Communications
Provide insights
and expertise
Focus
on post-sale
Preparation is
mandatory
Communication
skills matter
The hard part:
Perspective
Developing the
established
relationships
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1 Buyers’ Preferences
2
3 Customer Engagement:
Status and Impact on Sales
Performance
4 How to Make It Happen
The State of Sales Enablement 2018
Tamara SchenkResearch Director at CSO Insights,
The Research Division of Miller
Heiman Group
Twitter: @tamaraschenk
LinkedIn:
http://www.linkedin.com/in/tamaraschenk
Email: [email protected]
Agenda
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Clarity Step 1: Sales Enablement Defined
8
WHAT
?What Sales Force Enablement — A strategic, collaborative discipline
?Why designed to increase predictable sales results
?How by providing consistent, scalable enablement services
?Whom that allow customer-facing professionals and their managers
?Where to add value in every customer interaction.
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Implementing Is Polishing A Rough Diamond
9
Source: Oriana Jewels
Imagine
enablement
as a rough
diamond.
A rough
diamond
has to be cut
and polished
to shine ...
...and that requires a strategy
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Clarity Step 2: The Clarity Model
10
Helps you to cut and polish
all enablement facets
based on YOUR context!
Allows you to create a
strategic enablement
discipline
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Enablement Growth Yields To Maturity.
Overall, the fast-growing
movement comes to a plateau!
Highly relevant in
organizations > $250M
Highly relevant in
selected industries
Organizations with a Dedicated Sales
Enablement Person, Program, or Function
19.3%
22.6%
25.5%
32.7%
2013
2014
2015
2016
59.2%2017
61.0%2018
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Top Enablement Goals:
Driving Revenues and...
12
44.6%
42.0%
35.2%
28.3%
28.0%
27.0%
23.0%
20.4%
Sales enablement
goals are aligned to
the sales leaders’
goals
Increase win rates of forecast deals
Increase new account acquisition
Increase existing account penetration
Reduce salescycle length
Increase averagedeal size
Decrease new salesperson ramp-up time
Increase availableselling time
Decrease new salesperson ramp-up time to full
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How Successful Is Sales Enablement?
13
55.5%
4.3%
11.3%
4.1%
24.7%
Met
some
expectations
Met the majority
of expectations
Met or exceeded
all expectations
No major initiatives
Met a few
expectations
Enablement is
getting better,
slowly, but steadily:
The group that met a few
expectations decreased
from 10.0% to 4.3%
The group that met some
expectations represents
the majority (55.5%)
The group of successful
organizations declined from
34.6% last year to 28.8%
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Mixed Results
14
Less than a third
of organizations
are highly effective
0%
10%
20%
30%
40%
50%
60%
70%
80%
Met orExceeded allExpectations
Met theMajority of
Expectations
Met SomeExpectations
Met a fewExpectations
No MajorInitiatives
Meeting Expectations and Quota Attainment
Meeting Expectations Quota Attainment
Doing nothing is no
alternative: leads to
extremely bad results
Majority achieved
average results which is
a dangerous place to be!
28.8%
55.5%
Study‘s average quota
attainment: 53.7%
55.5% 55.9%
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Primary Enablement Services for Salespeople
15
Changes within
the top three
enablement services:
Sales process
improvements now
on position 5
Content services now
new within the top 3
Coaching more important
Proposal development
Sales Training Services
Sales tools (value
justification/ROI tools, etc.)
Content Services
Coaching
Sales process
improvements
Onboarding new hires
CRM/enablement
technology management
Competitive analysis
68.1%
58.5%
52.0%
50.9%
49.6%
46.3%
37.3%
22.9%
17.7%
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Customer Engagement Defined...
Customer
engagement
= how organizations and their customer-facing
professionals get in touch with their customers
along their entire customer’s path.
The goal is that every interaction with customers,
regardless if with or without human interaction, is
perceived to be relevant, valuable and
differentiating by the customers.
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... And Its Role Within Sales Enablement
That’s what sales enablement’s does:
Engaging, equipping and empowering customer-facing
professionals to be valuable, relevant and differentiating
in every customer interaction
Outstanding customer engagement
leads to the ultimate enablement goal:
Improving predictable sales results
Customer engagement
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Customer Engagement In Context
1.
Customer’s
Path
2.
Customer
Engagement
3.
Customer
Experience
Improving
predictable
sales results
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Aligning Enablement Services
To The Customer’s Path to Drive CX
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44.4%
42.0%Apply this practice and
experience better results
Fully AgreeDisagree Neutral/Somewhat Agree
42.0%13.6%
The majority has still
some work to do58.0%
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8.1%
...And How It Matters
20
Average win rate: 49.5%
53.6%
47.9%
42.1%
Agree
Neutral
Somewhat
Agree
Disagree
Aligning Enablement Services to the Customer’s Path and Win Rate
This practice
can improve
win rates by
compared to
the average
The costs
of doing
nothing are
higher
decline
compared
to average!
14.9%
*average win rate:49.5%
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Customer Engagement Practice:Content Tailored To Role, Challenges and Outcomes
54.7% 23.9%21.4%
*compared to average win rate of 49.5%
Fully AgreeDisagree Neutral/Somewhat Agree
8.9%*Improves
win rates
by
Decline
by-16.6%*
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Implementing Tailored Content
22
Awareness BuyingImplementation
& Adoption
Customer’s Path
Future Vision
of Success
Best Buying
Option
Deliver and
Leverage Value
Customer-Facing
Content
Customer-Facing
Content
Customer-Facing
Content
Enablement Content
Playbooks, Guides, Scripts and more
Training: Product, Skills, Methodologies,
Process Includes supporting training content
Coaching: Training and Content
to Develop Coaching SkillsFor Managers
For Customer-
facing Pro’s
Sales Goals
Customer-facing
Internal
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Customer Engagement Practice:Tailored Value Messages
55.4% 25.0%19.6%
*compared to average win rate of 49.5%
Fully AgreeDisagree Neutral/Somewhat Agree
11.6%*Improves
win rates
by-16.0%*
Decline
by
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Tailoring Value Messages
24
Awareness BuyingImplementation
& Adoption
Future Vision
of Success
Best Buying
Option
Deliver and
Leverage Value
Customer-Facing
Content
Customer-Facing
Content
Customer-Facing
Content
Value
Hypothesis
Specific Value
Proposition
Value
Confirmation
Playbooks, Value Messaging Guides, Scripts, Tools
Training: Product, Skills, Methodologies, Process
Customer’s Path
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Customer Engagement Practice: Leveraging Social Media
We effectively leverage social media and share valuable content with prospects and customers
45.5% 24.7%29.8%
*compared to average win rate of 49.5%
Fully AgreeDisagree Neutral/Somewhat Agree
5.3%*Can improve
win rates by-10.7%*
Can decline
win rates by
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Leveraging Social Media Effectively
26
Critical
success
factors
Formally aligned social selling
strategies between marketing
and sales (only one-fifth have
that): If so, win rates can be
improved by 15.3%
Social selling steps have to be
integrated in processes and workflows
Leverage Social CRMs and
social productivity tools
Social selling
is connecting,
engaging,
listening...
and requires
coaching.
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What’s Missing?
27
No content
without
training
Learning how to apply the newly
tailored content services
Learning how to coach
salespeople accordingly
No training
without
coaching
Adjust coaching program to ensure
that sales managers focus their
coaching efforts on this initiative
Develop related coaching skills for
sales managers and sales coaches
to ensure reinforcement and adoption
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Sales Coaching Matters
28
57.7%
54.7%
48.1%
43.9%
Dynamic
approach
Formal
approach
Informal
approach
Random
approach
16.6%
11.3%
10.5%
40.1% apply a formal or
dynamic coaching approach
with huge impact on win rates
Dynamic Improvement*
Formal Improvement*
Random Decline*
*compared to average win rate of 49.5%*average win rate:49.5%
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Communication and Change
29
Communication
Strategy
What & How & When
The Change Program
Doing it!
The Change
Leadership Approach
Why
The Change Story
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Your Takeaways
30
90% of buyers would
engage salespeople earlier
in specific situations
Salespeople are only for 23%
of buyers perceived as
problem solvers
Four defined preferences:
know my business,
communicaion skills, insights
and perspective, focus
on post sale
Enablement growth yields
to more maturity, slowly
but steadily
Highly relevant in larger
organizations and selected
industries
Enablement goals are
aligned to sales leaders’
goals
Enablement’s path
to improved and
predictable sales results:
Customer’s path
Customer Engagement
Customer Experience
Practices have significant
impact on performance
No content without training:
salespeople need to be
engaged, equipped and
empowered to apply new
content, new messaging, etc.
Formal sales coaching
approach to drive
reinforcement and adoption
Communication and change
leadership are essential
to be effective
2Sales
Enablement2018
1
Buyer’sPreferences
3
Customer Engagement
4
Making itHappen
© 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED.
Questions
Answers&
Tamara SchenkResearch Director at CSO Insights,
The Research Division of Miller
Heiman Group
Twitter: @tamaraschenk
LinkedIn:
http://www.linkedin.com/in/tamaraschenk
Email: [email protected]
© 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED.
Further Information
32
Sales
Enablement
2018 Sales
Enablement
Study
2018 Buyer
Preferences
Study
Follow us @
CSO Insights
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