being a high performing sales organization requires a hard reset on conventional thinking
TRANSCRIPT
Building High Performing Sales Organizations
Tiffani Bova Global, Customer Growth & Innovation Evangelist
[email protected] @Tiffani_Bova in/tiffanibova
Purposeful Selling Can Change the Game
Forward Looking Statements
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Innovation Drives New Experiences
Personalized Shopping
Share Health Data
Transportation On Demand
Automatic Updates
Building Competitive Advantage
Redefining Innovation
B A
Company-Centric Innovation
Inside – Out
Slow
Closed Process
No Customer Input
A
B
Customer-Centric Innovation
Outside - In
Agile
Transparent
Collaborative with Customers
We’ve Entered the Connected, Digital World And now the customer is in control
Cloud: Scale, performance, and real-time access
Social: New places to meet our customers
Mobile: Always-on, always-connected experiences
Data Science: Relevant and personalized interactions
IoT: Connected sensors, beacons, devices, and apps
While many companies have been admiring the opportunities digital brings, they have been focused
on ‘doing things better’ when getting dramatic results comes from 'doing things differently'
Customer Experience is?
Productivity Advocacy
Innovation
Marketing
Customer Service
Improved Collaboration
New Capabilities
Sales
Customer Insights
Business Growth Customer
Satisfaction
Competitive Advantage
Customer Experience Builds Advocacy
“In two years, 90% of companies expect to compete almost entirely on the basis of customer experience up from 36% two years ago.” – Laura McLellan, Gartner, quoted in Ad Age Sept. 2014
“…we’re not in the basketball business. We’re in the business of creating unique experiences.”
- Mark Cuban
“Do what you do so well that they will want to see it again and bring their friends.”
- Walt Disney
Customer Experience Leaders Outperform the Market 8-Year Stock Performance of Customer Experience Leaders vs. Laggards vs. S&P 500 (2007-2014)
Cum
ulat
ive
Tota
l Ret
urn
120%
100%
80%
60%
40%
20%
0%
107.5%
Customer Experience
Leaders 72.3%
S&P 500
Index 27.6%
Customer Experience Laggards
Source: © 2015 Watermark Consulting
Exhibit 1 People Most Often Consult Friends and Family Before Making a Purchase
13%
13%
10%
50% Friends and family
39% Company websites
35% Blogs and forums
Social media
TV
Newspapers and magazines
Radio
Percentage of people consulting each source before purchasing1
Sources: IntelliSurvey of more than 227,000 customers in Canada, France, Germany, Italy, Japan, Spain, the UK, and the U.S. in 2015; BCG analysis. 1The average of all countries and sectors covered in the survey; multiple answers were possible.
People are about more likely to consult friends and family than newspapers, magazines, television and social media
3% 4X-5X
Exhibit 2 Advocates Are Less Likely to Leave Than Critics, and They Spend More
Sources: IntelliSurvey of more than 227,000 customers in Canada, France, Germany, Italy, Japan, Spain, the UK, and the U.S. in 2015; BCG analysis. 1Customers who are willing to leave a company, are actively looking for better offers, or are already switching brands. 2Any product that a customer purchased in addition to the original product.
5
36
3
39
43
36
5
4
Strong advocates Strong Critics
Churn rate of advocates and critics (%)1 Additional products purchased by strong advocates vs. strong critics (%)2
19
30
74
255
Mobile telecom
Retail banking
Car insurance
Health insurance
The “2015 State of Sales” survey asked more than 2,300 global sales leaders about their priorities, challenges, metrics,
and strategies for the year. Here’s a quick look at the current state of sales.
The Reality for Sales Leaders
Customer connections take priority. This suggests sales leaders view growing a base of loyal, connected customers — rather than “one and done” deals — as instrumental to sustained success.
Top 3 Sales Objectives
Growth matters most. Increasing revenue, powered by an expanding customer base, outranks margin optimization as a measure of success.
Top 3 Sales Success Metrics
Acquire new customers
Amount of new revenue
Grow the value of existing customers
Number of new customers
Create deeper customer relationships
Amount of recurring revenue
80%
57%
46%
35%
55%
56%
Top 3 Sales Challenges
Sophisticated customers pervade the market. Sales teams have long felt the pinch of heightened competition and price wars, but the rapid rise of customer sophistication brings new complications as teams strive to stay connected in real time.
See increased market competition
Find customers seeking the lowest price possible
See customers’ needs have grown more sophisticated
58%
55%
47%
Process Driven
Metrics drive behavior
Numbers game
Volume trumps value
Results proportionate
Pipeline is king
Short term focus
Roles defined
Results based
Lead to Advocacy
Contextual
Connected
More art than science
Productivity Driven Sales Driven Customer Driven
Defined steps
Unnatural behavior
Maximizes tools
More Science than art
Sales Leaders Must Make a Decision – Rigor or Flexibility
Context is Everything
The Future of Selling Will be Contextual
§ Understand a customers requirement
§ What is their starting point
§ What are the buying dynamics (Internal & External)
§ Are there any industry regulations driving the decision
§ Is there a solutions match
Not all Customer Engagements are Created Equal
Getting It Done
• This is not about selling products it is about selling change • Sales must facilitate the customers thought and decision process
• You must lead the change • Establish a customer-centric culture
• Get the right resources for the right customers • Start from the ‘outside-in’
• This is not about avoiding performance metrics • This is about promoting how you can improve your customers business in meaningful ways
• You must build the right skills and infrastructure • Sustain and Support the change from the first mile to the last mile
In the future ….customer driven sales organizations
Will completely reset value and meaningful engagement with customers
thank y u Tiffani Bova Global, Customer Growth & Innovation Evangelist [email protected] @Tiffani_Bova in/tiffanibova