drive b2b sales by focusing on customers and digital ... · pdf filelifetime value, with the...

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EMPOWER CUSTOMER-FACING TEAMS

ENGAGE CUSTOMERS

EXPAND INTO DIGITAL


ENGAGE CUSTOMERS

EXPAND INTO DIGITAL

v vENGAGE EXPANDINTRO EMPOWER ROTATE

The B2B market represents the largest opportunity for Communications, Media and Technology (CMT) companies to grow their revenues. Within 12 months, increases of 20% revenue growth can be achieved. To capture this growth, our experience shows companies must focus on

3 PRIORITIES:

DRIVE B2B SALES GROWTH

Focus relentlessly on differentiating the sales and service experience by putting the voice of the customer at the organization’s heart. The B2B marketplace is evolving rapidly. Millennials, with new behaviours and expectations, have now overtaken Generation X to make up the largest proportion of the workforce. CMT companies need to understand their changing B2B customers and recalibrate the buying experience to match.

Traditionally, CMT companies’ online offerings have either been catalogues, or attempts to clone the in-store buying experience. That needs to change.

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80% say customer experience is a strategic priority yet LESS THAN 25%excel at it

B2B customer promoters deliver

3X the profit than detractors

ENGAGE EXPANDINTRO EMPOWER ROTATE

ENGAGE CUSTOMERS

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In this world, lengthy procurement processes are on the wane and generic product overview presentations are no longer sufficient. CMT sales teams need a much more personalized approach. They have to listen to and understand the voice of each customer, measure their sentiment, and track and analyse how they engage across every channel. The objective? When they meet them for the first time, they already know all about their challenges and requirements.

Buyers today are much more educated and connected. And their expectations for a connected experience are rising. They routinely engage across multiple channels: for example, B2B buyers search online, read research papers, watch demos on YouTube, download SaaS trial platforms and share experiences with other service users. A top priority for CMT companies must be to deliver a consistent sales experience, regardless of which channel the customer uses.

DELIVER A CONSISTENT SALES EXPERIENCE, REGARDLESS OF WHICH CHANNEL THE CUSTOMER USES


Use advanced analytics at the core to harness valuable customer data that focuses sales efforts, modifies sales behavious and grows revenues.

It’s a dynamic time for B2B sales. Customer needs, new technologies, sales skills and communication channels are all in flux. An average of 7 customers influence the B2B buying decision and customers are 57% through the buying process by the time they meet a sales executive. To empower sales teams in this environment, CMT companies need to integrate sales and marketing processes, and embed analytics into these processes from end to end. This will help them to ensure that every sale is profitable and that sales efforts are directed at purchase influencers and decision-makers.

Back office sales and marketing operations will be the ‘insight engine’ for this new capability. Powered by advanced analytics, it will play a much more proactive role by bringing sales people closer to what customers (and competitors’ customers) want, and providing key intelligence on customer lifetime value, with the right insights delivered to the right sales person for the highest margin sales.

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Sales productivity continues to decline 14%IN 5 YEARS



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Advanced analytics delivers must-have capabilities across two dimensions. First, it helps sales teams to achieve results in a crowded purchasing environment, enabling automated marketing campaigns and propensity modelling, as well as automated forecasting that intelligently allocates people and activities and optimises pricing configurations.

Second, it supports development of new sales models that reward strategic sales and accelerate the growth of specialist skillsets. By using the data generated by their day-to-day activities, analytics can be used to provide a far richer view of sales teams than ever before. This could mean helping companies to accurately understand the profile of a high-margin digital seller, and using this intelligence to shape the end-to-end employee experience— from recruitment to compensation—to drive results. Meanwhile, machine learning can be used to identify the true sales capabilities of team members and isolate areas for immediate improvement, which can then be addressed through insight-led, real-time coaching.

ANALYTICS CAN BE USED TO PROVIDE A FAR RICHER VIEW OF SALES TEAMS THAN EVER BEFORE


LESS THAN 1/3 have the skills to deliver on the customer experience

Leverage digital technologies to develop new business models and empower sales teams to drive higher-value strategic sales.

CMT companies are facing a period of massive disruption. Growth rates for many of the core product categories have been flat or negative, and companies are losing significant share of market value to the internet platform players. Industry leaders must urgently transform their business by rotating to new “as-a-service” and solutions-based business models. To provide the investment fuel needed, the historic core business must be dramatically restructured. Technology discontinuities such as AI and VR/AR/MR, need to be both embedded into the offering roadmaps and leveraged to drive digital transformation of their internal operations.

Sales organizations must be ready to accommodate a fully digital sales world, and to rapidly adapt to new digital disruptions heading their way. Within the sales organization, there’s now a clear path from self-provisioning to automation, to machine learning and finally to AI, which is soon to become the new UI for sales interactions—for sales people and their customers.


EXPAND INTO DIGITAL

70% of executives say AI will revolutionize customer interactions

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With machines like chatbots and digital assistants handling high-volume, low-value transactions, rapidly and at low cost, sales teams will be empowered to focus on high-value strategic sales. Through this approach, significant reductions in cost per sale can be achieved, with the time spent on sales administra-tion cut by up to 60%. Cost savings achieved through digital in back-end marketing and sales operations can be reinvested in in-year growth initiatives.

Digital technologies can also be used to deploy/ refresh new digital channels to market. To reach customers ahead of the competition, CMT companies should optimize their search-engine marketing activities. And once customers have arrived at their website, they should be engaged through a memorable experience.

CMT companies’ B2B online stores have to stand out from the crowd. This means transforming them into easy, memorable places to buy offerings that are tightly aligned to marketing campaigns and sales activities. Marketing automation linked to machine-based decisioning can be used to make targeted offers, including dynamic and personalised landing pages.

EMPOWER SALES TEAMS TO FOCUS ON HIGH-VALUE STRATEGIC SALES


With the time spent on sales administration cut by UP TO 60% significant reductions in cost per sale can be achieved.

The B2B marketplace is evolving faster than ever. It’s a challenging environment where changing customer needs, new technologies and complex communication channels demand new sales skills. CMT companies that can meet these challenges head on will capture valuable sales growth and differentiate their businesses from the competition.

The key to success from now on? Pivot to the new: harness the power of digital to completely redefine the customer experience and transform the efficiency, effectiveness and relevance of their B2B sales propositions.

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Digital B2B sales opportunity—NOWUp to 20% B2B sales growth is within reach, in the next 12 months. To realize this promise, CMT companies must focus on three key priorities: ENGAGE CUSTOMERS, EMPOWER CUSTOMER-FACING TEAMS, AND EXPAND INTO DIGITAL.


ROTATE TO THE NEW


KEY IMPERATIVESENGAGE CUSTOMERSSTAKE A CLAIM by clearly defining target brand takeaways and experiences across B2B segments.

LISTEN TO THE VOICE OF THE CUSTOMER by implementing digital feedback tools across the organization—from the front line to the C-Suite. Use customer feedback to guide and prioritize investment in processes and tools.

BUILD A ROBUST CASE FOR CHANGE by applying financial models to pinpoint revenue drivers and detractors, loyalty impact and share of wallet potential.


EMBED SALES ANALYTICS in the opportunity management process to maximize ROI on deal pursuits. Learn to recognize successful ‘deal DNA’ by harnessing learnings from across the sales organization. Apply relevant findings and recommendations to improve customer value propositions, deal economics and win rates. Start small, prove the case, then scale.

DIGITIZE PROPENSITY MODELS and share of wallet analysis for real-time, personalized recommendations and improved cross and up selling. Centralize marketing, sales and service data to power effective decision engines. Integrate account plans, product strategies and marketing campaigns for improved sales and channel effectiveness.

CHALLENGE EXISTING SALES OPERATING MODELS and better understand sales teams’ ‘DNA’. Unlock full sales potential by understanding what competencies and traits define top performers—and applying these insights across the organization.

REALLOCATE TIME AND RESOURCES spent on administrative, back office tasks towards coaching sales teams and supporting sales activities. Focus learning and development on areas with greatest potential impact and revenue uplift.

KEY IMPERATIVESEMPOWER CUSTOMER-FACING TEAMS


BUILD THE BASICS: digital sales and marketing automation platforms powered by analytics. Transform legacy service delivery processes through digitization.

AUTOMATE HIGH-VOLUME, LOW-VALUE ACTIVITIES for “product” or “volume’ businesses. For “high-value solution led” portfolios that require more manual intervention, use digital process orchestration to improve predictability.

STAND UP CROSS FUNCTIONAL TEAMS ACROSS TECHNOLOGY, people and process to prototype new ideas, create viable products, and learn and iterate quickly. Mix digital technology with design-led thinking to rapidly expand into new markets, redesign digital channels and launch new internet capabilities with incredible speed to value.

KEY IMPERATIVES EXPAND INTO DIGITAL

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Grow revenues by 20%

Cut operating costs by 40%

Within 12 MONTHS

Clear 100 DAY PLAN

ACCENTURE CAN HELP DELIVER TANGIBLE RESULTS, AT SPEED


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BACK

AUTHORS MARK ROGERS Managing DirectorCommunications, Media & Technology (CMT) [email protected]

DAN AUKLAND Senior Manager Communications, Media & Technology (CMT) industry [email protected]

GET IN TOUCH JOIN THE CONVERSATION @AccentureHiTechVISIT US AT accenture.com/B2Bdigital

ABOUT ACCENTURE

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network— Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 411,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

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