Secrets of how Fortune 100 Buy

© 2012 NBS Consulting Group, Inc. | Tel: 415.309.7017


Demand Generation Strategies:

Secrets of How Fortune 100 Buy IT

Christine CrandellPresident, New Business Strategies

August 23, 201210am PDT


• Who Are We• Sellers’ Compass• Uncovering the Secrets• Translating into Demand• Lessons Learned• Your Next Steps• Discussion

Agenda…


Who We Are

• Deep, proven track record in strategy expertise that achieves outcomes.

• Proprietary and tested Sellers’ Compass™ methodology for uncovering and aligning to buyers’ Journeys.

• Consistently builds high performance marketing and sales processes, teams and strategies.

• Unique partnership approach to service delivery that focused on building internal capabilities.

• Practical advice, tools, and training to sustain success.

New Business Strategies helps companies succeed by accelerating revenue.


Our Services

Sales & Marketing

Assessment

Positioning Workshop

Product Launch

Framework

Buyer Journey GamePlan

Revenue Acceleration

BluePrint

Market Entry Growth Barriers

Focus Framework

Market Strategy

Go-To-Market Plan

Competitive Intelligence

Win / Loss Analysis

Market Intelligence

FastStart Services

Sellers’Compass

Strategy &Planning

Outsourced Services


We researched Fortune 100 Companies to

determine how they buy emerging

technology


“Only after we’ve completed 80% of the evaluation cycle and know all there is know about the vendor – only then do we contact them.”

- Commercial Bank

“50% of the final selection decision is driven by the experience to date with vendors.” - Insurance & Managed Healthcare

“If the relationship is negative, it will rule out even the best fit vendor.”

- Insurance

“We expect marketing and sales to clearly articulate their differentiation and don’t hard sell.” - Aerospace & Defense

“Relationship can overrule price.”

- Diversified Conglomerate

Buying Has Changed


The Sellers‘ Compass ™

E

Evaluate

Validate

Purchase

Deliver

Nurture

Value

Expand

Evangelize

Search

Define

Sales

Cont

acts

Lead

sOpportunities

“Customers”

Sellers Compass™

Customer CareM

arke

ting


The Sellers Compass™methodology enables, engages and establishes enduring, profitable relationships with prospects and customers.


The Sellers‘ Compass ™

E

Evaluate

Validate

Purchase

Deliver

Nurture

Value

Expand

Evangelize

Search

Define

Sales

Cont

acts

Lead

sOpportunities

“Customers”

Sellers Compass™

Customer CareM

arke

ting


Buyer Enablement Stage

• Define:Commit to solving the problem• SearchUnderstand the approach Peers selected & start business case• EvaluateEvaluate alternatives, vendors and short-list• ValidateTest short-list & end-user benefits & validate selection


Google

Google various keywords and look for research, reports, etc.

Validate with LOB

Contact LOB and other IT teams to get support to investigate

Industry Analysts

Inquiries to analysts to get information on trends, problem and guidance on approach

Uncover the Define Step

TriggerEvent

Tap into Social Graph

Talk to industry peers, social network, etc. regarding trends, solutions and vendors

• Market Research Reports on trends• 3rd Party Blogs• Social graph & peers• Technical Discussion Papers• Conferences


Investigate Approach

Research various solution approachs, and develop master list of vendors.

1st Short List

Define high level business requirements and short-list vendors

Contact Vendors

Get missing data and ball park pricing for initial business case

Uncover the Search Step

Initial Business Case

Develop high level business case and socialize internally

• White Papers & technical briefs• Social graph & peers• Detail Feature/Function comparison• Customer case studies• Videos, videos, videos


Back Channel Vendors

Back channel short listed vendors with social graph, industry groups and analysts.

Free Trial

Test solutions to understand functionality, performance, scalability and quality of support.

2nd Short List to RFI

Based on trial, experience to date, and side-by-side comparison, short list to 3 and request formal RFI to update business case for approval and funding

Demos & Information

Web and in-person demo and build vendor relationships to answer questions

Uncover the Evaluate Step

• Benchmark studies & papers• TCO/ROI tools and studies• Social graph & peers• Customer case studies on adoption• Videos, videos, videos


Detailed Requirements

Finalize detailed requirements and socialize with LOB. Finalize business case for submission.

Long Running POC

Test solutions in a production environment with end-users, internal processes and standards

RFP/RFQ

Issues RFQ/RFP and initiates formal selection/sourcing process.

Uncover the Validate Step

Bake-Off and “Selection”

Develop plan to operate final solution at target scale, discuss pricing in more detail and any areas of concern.

Hand Off to Procurement

• Sample Business Cases• Financial / Viability Information• Vertical Customer case studies• Industry analysts• Vendor references


Demand Generation …

Trigger Event

1st Disrupter

2nd

Disrupter

ZMOT

Define• Search• 3rd Party Blogs• Market Research• Peers / Social Graph• Case Studies

Evaluate

• Search• White Papers & Briefs• Social Graph• Case Studies• Feature Comparison

Purchase• Search• TCO / ROI• Business Case• Social Graph

Campaign Planning1. Campaign waterfalls should

follow the Seller’s Compass.2. Calls to actions should match

each steps’ target end state.3. Invest ONLY in assets &

social media activities on your Sellers’ Compass.

4. Freely share technical information; your competitors have it anyway.

5. Avoid using “one-size-fits-all” assets.

6. Verticalize your campaigns beginning at Search step.

7. Involve Sales in ‘Evaluate’ for consistency in experience


VALUABLE INFORMATIONDon’t be stingy with technical, research and market information . Make it easy to find and access.

POWER OF INFLUENCERSEngage credible, trusted influencers to discuss the merits of your vision and solutions.

RESPONSIVENESSConsistency, speed and accuracy are critical to credibility. Empower all employers to respond and enable buyers.

VOICE OF THE BUYERUnsolicited customer feedback and open dialog around consistency of experience, trust, and value.

Social Media Role

Use social media to inform, engage, and enable buyers (and sales) to participate

along the campaign waterfall

• Have a long-term partner orientation

• Act like a trusted business advisor

• Always have a sense of urgency & care

• Be relevant & credible

• Set realistic expectations

• Be transparent & forthright

• Honor your word

• Be fair & flexible

• Maintain a positive & broad reputation

• Be consistent & predictable

• Products perform ‘as advertised’

• Focus on overall success vs. a transaction

Experience Expectations


• A “selection” decision doesn’t mean you’ve ‘won’.• Transaction-oriented sales are considered niche vendors;

relationship-oriented sales are considered strategic vendors. • Long running POCs/Trials/POVs are hedging strategies to

realize benefits without making a long term commitment.• Internal research groups are persistent, funded and quietly

influential; don’t ignore them.• They hate “solution selling”, follow insight selling - you’ll win

if aligned to their journey.• Make the “Buyer” successful because their jobs and

reputations are at stake – as are yours.

Lessons Learned from F100 …


Experiment with a slice of Sellers’

Compass

2. Pilot

6. Full Sellers’ Compass

Marketing and Support define the end-to-end

buyers’ experience then align it with business

objectives.

Educate, train & empower

employees

7. Mobilize

1

3

4

5

6

7

2

Start with a detailed investigation of your buyers’

journey (who, what, when, why)

1. Discover

4. Operationalize Cross Teams and Functions

3. Socialize, Share,Educate

5. Measure IdentifyMetrics & ROI

Path to Buyer Alignment …


Things to do today:• Evaluate how consistent marketing, sales and

support behave– It’s your key to credibility

• Solution Marketing/Selling is dead– Retool everyone for Insight Selling

• Launch your Sellers’ Compass study– In-depth knowledge is actionable

• Align Marketing and Sales to your Sellers’ Compass– It drives pipeline velocity and size

Summary …

[email protected]

+1.415.309.7017

www.christinecrandell.com

Forbes Blog: blogs.forbes.com/christinecrandell

LinkedIn: http://www.linkedin.com/in/christinecrandell

Twitter: @chriscrandell

Thank You and

Questions?

Secrets of how Fortune 100 Buy

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