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Driving Sales Execution with Compelling Messaging
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Transcript of Driving Sales Execution with Compelling Messaging
Success’ Dark SecretDriving Sales Execution with Compelling Messaging
Russell Scherwin [email protected]@rscherwin
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Themes
• Key questions sales needs answered
• World-class messaging and positioning
• Build your influence by driving revenue (rather than being driven by it)
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It’s not what you sell, it’s how you sell
The Corporate Executive Board Company. All Rights Reserved.
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Key Differentiators in the Sale
• Offers unique, valuable perspectives on the market
• Helps me navigate
alternatives
• Helps me avoid potential land mines
• Educates me on new issues and outcomes
n=5,000+
Insight
Survey: Why do B2B Customers Buy?
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Introductions
• What role do you play?
– Product Development?– Product Management?– Product Marketing?– Sales?
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Introductions
• What role do you play? (in the eyes of a revenue focused executive)
– Revenue Support
• What role do you play?
– Product Development?– Product Management?– Product Marketing?– Sales?
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Introductions
• What role do you play? (in the eyes of a revenue focused executive)
– Revenue Support– Revenue Enablement
• What role do you play?
– Product Development?– Product Management?– Product Marketing?– Sales?
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Introductions
• What role do you play? (in the eyes of a revenue focused executive)
– Revenue Support– Revenue Enablement– Revenue Protection
• What role do you play?
– Product Development?– Product Management?– Product Marketing?– Sales?
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Introductions
• What role do you play? (in the eyes of a revenue focused executive)
– Revenue Support– Revenue Enablement– Revenue Protection– Direct Sales
• What role do you play?
– Product Development?– Product Management?– Product Marketing?– Sales?
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Introductions
• What role do you play? (in the eyes of a revenue focused executive)
– Revenue Support– Revenue Enablement– Revenue Protection– Direct Sales– Dead Weight
• What role do you play?
– Product Development?– Product Management?– Product Marketing?– Sales?
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What does the CEO think?If you don’t sell, you don’t understand our business
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What did he pick up on?Nothing in business is more important than audience congruence
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Messaging = Bridging Two TruthsBridge your capabilities to your audience’s hot buttons
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Which pitch is more effective
We provide multi-channel selling technology that helps our customers drive value by increasing revenues,
while decreasing cost, through integrated data semantics, within a
multi-channel multi-dimensional database model.
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Which pitch is more effective
Our software improves cross-channel customer experiences.
For example, Best Buy has improved average revenue per transaction, and
customer loyalty, using our software to drive consistency in order and
inventory operations across all selling and fulfillment channels.
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Which pitch is more effective
We seamlessly manage the secure flow of information
across organizational, departmental, legislative, and
system boundaries
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Which pitch is more effective
We provide secure data movement technology.
For example, we partnered with the Federal Reserve to secure
payments across our financial system.
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Which pitch is more effective
Would the Federal Reserve pitch work if delivered to Coca-Cola?
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Before you do traditional marketing tasks,know where you are in your product’s life-cycle
PM/PMk’s job is scaling out the revenue process.
If you’re too early, you have nothing to scale.
Scalebase
Build base
Find a new job
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Revenue Generating Offerings
Message Foundation
Sales
Customers
Partners
Press
Analysts
Website
Messaging drives audience actionDoes your message have an audience bias?
• A Message Foundation is a necessary organizational catalyst, governance mechanism, and scale lever for all outbound communication
• Always tailor delivered messages must to targeted audiences– each audience starts with different cares and biases
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Messaging and positioningHow do you breathe action into your message?
• Position is the space the message occupies in the mind of the audience, relative to other messages (don’t become noise!)
• A world-class message drives action and business outcomes
• Messaging is the start of the revenue process. It’s measurable!
• You control the message. Its delivery determines the position.
• Your selling channels typically communicates the message, YOU DON’T.
• A world-class message maximizes revenue, while minimizing sales cycles and sellers’ time spent creating messaging
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Elements of world-class actionable messaging
• Relevant• Differentiated• Defensible
Marketing software is easier than building software
because PowerPoint has no compile button
Effectively marketing software is harder
than building software because PowerPoint has no
compile button
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Elements of world-class actionable messagingRelevance
• Relevant to the audience• Industry Segment Specific• Product Ownership Specific (customer or prospect)• Title Specific• Psychographic Specific
• Differentiated• Defensible
Sales needs to know why a specific title in a specific
segment would agree to spend a specific dollar amount on
this offering
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Elements of world-class actionable messagingRelevance
• Relevant to the audience• Align with your audience’s KPIs• Better yet, align with what they’re thinking about at 3AM• Group by Segments
– Industry – Title /Function– Product Ownership (customer or prospect)– Psychographic– Region
• Differentiated• Defensible
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Elements of world-class actionable messagingDifferentiation
• Relevant• Differentiated from the competition
– What is unique about your offering– What makes you or your offering stand out– Feature/Function arrows for sales to throw in the heat of battle– The ideal decision criteria that identifies the competitive land-mines
they should set early in the sales cycle
• Defensible
Sales needs the ability to articulate why their offering is
unique, relative to others vying for the target’s attention
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Elements of world-class actionable messagingDifferentiation
• Relevant• Differentiated from the competition
– Your INCREMENTAL value proposition, relative to the competition– Setting unfair market-wide decision criteria's– What is unique about your offering– Informix, and row-level locking– Competitive arrows and land-mines
• Defensible
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Elements of world-class actionable messagingDefensibility
• Relevant• Differentiated• Defensible
– Assume you start with little credibility– Credibility comes from references with similar business
models/challenges– Or – Credibility comes through tedious cycle proof steps
Sales needs credibility.
Up-front credibility reduces cycle time and
competitive threats.
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Elements of world-class actionable messagingDefensibility
• Relevant• Differentiated• Defensible
– Assume you start with little credibility– Credibility comes from references with similar business
models/challengesOr – Credibility comes through tedious, expensive cycle proof steps
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Your customer is your value chain’s next step
In a multi product-line organization, you are selling to
and competing for the attention of the sales force.
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Mistakes commonly made by product marketers• Task orientation, rather than results/outcome orientation
– Releasing approved collateral is not a business outcome– Having 50 people hear your thought leadership pitch is not an outcome– Having 300 people at a conference is not an outcome.– Advice: Align your activities with meaningful KPI’s.
• Allowing executives and their opinions to play pinball with you.– Push back.– But know the market better – be the expert.– Advice: Team with the A reps. Leaders trust them as they directly represent $$$.
• Not identifying and prioritizing segments that drive revenue– Advice: If you can’t logically model where the money’s coming from and why, evaluate what you’re
doing.
• Not identifying and prioritizing channels that drive revenue– Advice: Focus your time on the channels that will drive personal sustainable success
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Field Enablement Pre-RequisitesWhat does PM and PMk need to understand• Identify and prioritize buying segments, and the process, roles,
skills, and gaps that exist for selling into them. – Outline sales process activities for each segment
• (identify, qualify, prove, reach agreement, close)– Link activities to roles and resource requirements
• (AE, SE, PS, Mgmt, Channels, Demo Team, Support, Contracts, etc) – Identify skills and artifacts required by role– Identify and fill gaps for effectively selling into prioritized segments– Deliver sales kits for prioritized segments, containing #3 and #4– Create measurement metrics and goals by buying segment
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Sales plays focus the field on executionSales should execute, not recreate messaging wheels
• For each prioritized segment:– Identify titles to target and reasons why key capabilities benefit them– Describe the Challenges / Opportunities / Compelling Events / Trends that your
capabilities address that trigger opportunities – Key quantifiable value components with a concept of how to derive an as-is state that
your product capabilities improve• Most important are the capabilities that differentiate versus the competitive landscape, and
their relative value– Qualifying Questions with tree showing probable answers and follow ups– Product launch details (special offers, contracts / LOI’s, potential hurdles and gotchas, etc) – Call scripts, VITO notes, and – “Macro-Attack plans are created at a macro-level and account level
• Who do you target• Hypothesis of
– The Pains / Challenges / Opportunities they have that we address– How we have address them – Anecdotes telling the story of how we address them
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Marketing is sales in the aggregatedon’t forget that the aggregate doesn’t have a checkbook
• PMk starts with the product. Sales starts with the audience.• Sales sells to people. Marketing sells to markets.
– A market is an abstraction lacking a checkbook.• Segmentation & focus is the secret to influencing B2B markets.
– The trick is finding the balance between scale and granularity
Means & Market • Identify and
prioritize product/market segments
Message• Define expected
segment behaviors
• Define message by segment
• Create enablement and assets
Math & Medium• Create Models• Define metrics by
segment• Cascade metrics
to channel mediums
Management • Manage and
execute ruthlessly
• Continually hone model
• Provide backwards feedback
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Understand the art of the possible
Means
Market
Math
Message
Medium
Management
Understand what can be delivered, today and in the future
• What are our revenue generating assets and offerings?
– Roadmap: product and R&D– Market Readiness: Releasing market ready offerings
that demonstrate market use cases, versus product that passes functional QA
• Current Investment and Future Investment Framework
• Delivery and GTM Organization, Structure, and Capabilities
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Optimize the field’s time spend
Means
Market
Math
Message
Medium
Management
Segmentation and Focus:
• Identify Meaningful Buying Segments– What characteristics define a high-probability suspect?– What are the primary and secondary dimensions?
• Prioritize Buying Segments– Existing bandwidth to manage segments?– How granular do we define segments?
• Where is segmentation defined?– Category Level?– Product Level?– Geo Level ?
• Market Position– Category’s position within the market space?– Our position within the category space?
• How are we helping sales and marketing maximize yields?
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Align spend & activity with needed outcomes
Means
Market
Math
Message
Medium
Management
Financial Discipline in GTM activity:
• Revenue– For each offering, what is the market size and
expected CAGR?– For each offering, what are our revenue targets by key
segment?
• Pipeline– Expected stage conversion ratios? duration?– Win rates/Market Share? – Average Sales Prices?
• Managed at the category or product level?– Level of granularity you will manage to– today? tomorrow?
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Generate demand we can uniquely fulfill
Means
Market
Math
Message
Medium
Management
Create and progress pipeline:
• Who cares about our offering?– Identify targeted audiences and why key capabilities
benefit them• Why do they care about our offering?
– Describe the challenges / opportunities / compelling events that your capabilities address that will trigger opportunities
– Identify key value components, and the logic / data points that drives their value relative to the as-is state
• Why do they care about our offering over competing offerings?
– Identify differentiators, and their relative differentiators• Why should someone believe us?
– Reference Stories formal / informal– Data proof points– 3rd Party Credibility Statements– Economic Value Proof– Offering Proof / Demo assets and capabilities
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Create, progress, and close pipeline
Means
Market
Math
Message
Medium
Management
Model all revenue channels
• Engagement Model– Which sales groups engage at each sales stage
• Have we laid out each role’s expected contribution, the skills needed by each role, and the enablement assets required to achieve required skill levels?
• How is sales leadership defining this?– Which assets are necessary at each stage? – Which assets are nice to haves?
• How do we create, progress, close pipeline– Discovery Questions with tree showing probable
answers, follow ups, and how to qualify and act on responses
– Offering details, mechanics and promotions special offers, contracts, potential hurdles and gotchas
– Call scripts, VITO notes, and Presentations, etc
• Compensation Model– Existing overlap? Plan to build consistency?
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Execute
Means
Market
Math
Message
Medium
Management
Field Operations Management:
• Sales owned cadence– Pipeline coverage against necessary conversion rates– For active opportunities – are we confident with:
• Why Buy?• Why Buy from us?• Why Buy from us now / within committed timeline?• Buyer committed evaluation plan?
• Marketing / PLM engages to– Hone the message and assets– Support where appropriate– Collaborate in tuning the math model
• Management must:– Deliver against plan– Feedback loop for market adaptation
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