teamwork makes the dream work: cross-functional strategies ... · teamwork makes the dream work:...
TRANSCRIPT
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TEAMWORK MAKES THE DREAM WORK: CROSS-FUNCTIONAL STRATEGIES TO FUEL YOUR REVENUE ENGINE
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‣ This webinar will be recorded‣ Links will be distributed‣ Please use chat to send questions‣We’ll have time for Q&A
TeamworkMakestheDreamWork:Cross-FunctionalStrategiestoFuelYourRevenueEngine
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INTRODUCTIONS
DarioPrioloCMOSalesPerformanceInternational
EmilyWingroveDirectorofMarketingSynthio
AboutSPI• Globaltechnology,trainingand
analyticscompany• OwnersofSolutionSelling®
methodology• Specialistsinhigh-valueB2Bsales
AboutSynthio• Innovativecontactdatamanagement
solutionwithaccesstoover200MMglobalcontacts
• Expertsindataqualityandenrichment• TheonlydataproviderwithABM
functionality
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INTRODUCTIONS
TeamworkMakestheDreamWork:Cross-FunctionalStrategiestoFuelYourRevenueEngine
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4 MAJOR FUNCTIONS IMPACTING REVENUE
Sales
MarketingProduct
CustomerSuccess
$
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4 MAJOR FUNCTIONS IMPACTING REVENUE
Sales
MarketingProduct
CustomerSuccess
$
NotEnoughDemand
X
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4 MAJOR FUNCTIONS IMPACTING REVENUE
Sales
Product
CustomerSuccess
NotEnoughWins
X
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4 MAJOR FUNCTIONS IMPACTING REVENUE
Sales
Marketing
Product
CustomerSuccess$
NotEnoughRenewalsorGrowth
X
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4 MAJOR FUNCTIONS IMPACTING REVENUE
Sales
Marketing Product
CustomerSuccess
NotEnoughDemand,Winsor
Renewals!
X
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ENHANCING TEAMWORK TO MAKE THE DREAM WORK
Sales
MarketingProduct
CustomerSuccess
$
1. Understanding the buyer2. Agreeing on basic planning assumptions3. Aligning solutions with buyer needs4. Aligning message with buyer needs5. Aligning demand gen with organizational
needs and buyer preferences6. Measuring and managing what matters7. Closing the loop through win-loss analysis
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1. UNDERSTANDING THE BUYER
Challenges‣ Limited customer contact – bias perspective ‣ Collection of incomplete information‣ No customer insight process owner‣ Inconsistent sharing of insight‣ “Loudest Voice” syndrome
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1. UNDERSTANDING THE BUYER
Voice of the Buyer / Win-Loss Interviews‣ Why did they choose you, or not?‣ Triggers - Why now?‣ Who funded the investment?‣ How did they source providers?‣ How did they make their decision?‣ Who influenced the decision?‣ What factors mattered most?‣ What advice do you have for us?
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1. UNDERSTANDING THE BUYER
Understanding your buyer means understanding your database‣ Whitespace?‣ Gaps?‣ Areas of inaccuracy‣ High performing fields‣ Test your data! ‣ Inventory known fields‣ Create a wish list
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1. UNDERSTANDING THE BUYER
TitleBreakdown IndustryBreakdown SICBreakdown CompanyTypeBreakdown
EmployeeSizeBreakdown
Togrow youraudienceyouneedtoknow youraudience
ColinDayMarketingCTO
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2. AGREEMENT ON BASIC PLANNING ASSUMPTIONS
RevenueGoalSet
RevenueGoalAchieved
Only20% ofcompaniesreportcompletealignment!(anaplan)
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2. AGREEMENT ON BASIC PLANNING ASSUMPTIONS
RevenueGoal
Renewals/RunRateExistingCustomer-ExistingBusiness
Cross-sell/UpsellExistingCustomer-NewBusiness
NetNewNewCustomer-NewBusiness
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2. AGREEMENT ON BASIC PLANNING ASSUMPTIONS
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2. AGREEMENT ON BASIC PLANNING ASSUMPTIONS
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2. AGREEMENT ON BASIC PLANNING ASSUMPTIONS
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2. AGREEMENT ON BASIC PLANNING ASSUMPTIONS
RevenueGoal
Renewals/RunRateExistingCustomer-ExistingBusiness
Cross-sell/UpsellExistingCustomer-NewBusiness
NetNewNewCustomer-NewBusiness
• Objectives• Strategies&Plans• Resources&Budgets
• Objectives• Strategies&Plans• Resources&Budgets
• Objectives• Strategies&Plans• Resources&Budgets
• Product&ProcessEnhancements• CustomerExperience/Satisfaction• ValuePropositionRealization
• ProductRoadmap• AccountManagementProcesses
• Go-to-Market• DemandGeneration• SalesProcessandSkills• SalesCoverage
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3. ALIGNING SOLUTIONS WITH BUYER NEEDS
ThePainChain®
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3. ALIGNING SOLUTIONS WITH BUYER NEEDS
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3. ALIGNING SOLUTIONS WITH BUYER NEEDS
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3. ALIGNING SOLUTIONS WITH BUYER NEEDS
True Story:‣ SPI was a named account in
Synthio’s ABM approach‣ SPI in our TAM
‣ SPI had a need around Account Based Marketing‣ Needed to identify target personas at
target accounts
‣ Syntho had a solution that fit the need‣ Synthio’s ABM search platform
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4. ALIGNING MESSAGE WITH BUYER NEEDS
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4. ALIGNING MESSAGE WITH BUYER NEEDS
• Understandingsegments– Market,Accounts,BuyingCenters,
BuyingGroups,Personas• Showmeyouknowme
– FormarketingANDsalesefforts– doyourhomework
• Personalization– Increasesengagement
https://www.drip.co/blog/tips-and-tactics/b2b-email-marketing/
AccordingtoJupiterResearch,relevantemailsdrive18xmorerevenuethanbroadcastemails.
E n g a g i n g A c c o u n t s R e q u i r e s E n g a g i n g C o n t e n t
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4. ALIGNING MESSAGE WITH BUYER NEEDS
• Interactivity– Morecaptivating– Moreengaging
• IncorporatingVideo– Personalizedvideo
• Automatedynamiccontentworkflows– Saveyourselfwork
• Smarketing– Leverageyoursalescounterpartstopushsimilar
messagingout,tocomplementyourefforts– BDR/SDRteams
88%ofB2Bmarketerssaidatleast10-30%oftheircontentwouldbeinteractiveby2018.
- DemandGen Report
E n g a g i n g A c c o u n t s R e q u i r e s E n g a g i n g C o n t e n t
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5. ALIGNING DEMAND GEN WITH BUYER BEHAVIOR1.Inbound 2.Mass
Outbound3.TargetedOutbound
Examples
• Organic Search(SEO)• PaidSearch(PPC)• DigitalAdvertising
• EmailBlasts• SocialMedia• TradeShows• Webinars
• BizDevCalls• ABM• Trigger-eventdriven• Liveevents
Approach
• CreateContent• ResearchKeywords• OptimizeContent• CreateAds• Convert AdstoLeads
• Build Lists• CreateContent• CreateMessaging• Create“CallstoAction”• Pullthetrigger
• IdentifyTarget Companies• ResearchProspects• BuildLists• CreateMessaging• EngageProspects
Advantages
• PeoplemorebuyerReady• Salescyclesmaybeshorter• Salesresourcesareusedto
convertratherthantohunt
• Lowcost• Easytoexecuteatscale• Highlytrackable
• Proactivevs.Reactive• Focuscanbeongrowing
existingaswellaslandingnet-newaccounts
Disadvantages
• Canbeveryexpensiveandcompetitive
• Littlecontrolover“quality”ofprospect
• Reactivevs.Proactive
• “Spammy”/Annoying• Passive• Responserateslowand
declining• Heavilyregulated,especially
outsideoftheUSA
• Traditionallyverylaborintensiveanddifficulttoexecute
• Requirescarefulcoordinationandalignmentofmarketingandsalesresources
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5. ALIGNING DEMAND GEN WITH BUYER BEHAVIOR
A.OrganizationalReadiness
B.AccountSelection
C.AccountQualification
D.EngagementStrategy
E.EngagementExecution
F.AccountReviews
1.Assessreadiness2.Draftbusinesscase3. Establishcharter4. EstablishABMprocessesandpolicies
5.Defineroles&responsibilities
6. Clarifysolutionmessaging&valueprop
7. Identifyandclosekeycontentgaps
8. Implementtechnology9. Setmetricsandgoals10.HostABMkick-offmeetingandworkingsession
1.Define“IdealAccountProfiles”(IAP)
2.Definebuyingprocessandkeyplayers
3. Selectpreliminaryaccounts(neworexisting)byaccountmanager
1. Reviewprioraccountactivity
2. Researchaccountstoidentifypotentialneeds&triggers
3. Conductwhitespaceanalysistoidentifypotentialopportunities
4. Conductrelationshipanalysistoidentifykeyplayers
5. DetermineifaccountstillfitsIAP,andreplaceifnecessary
1. IdentifyandprioritizepotentialABM/Splays(Opportunisticvs.Strategic;Buyer-aligned)
2.DesignandtestABM/Splays
1. Establishpilotgroup2.Re-setexpectations(Whodoeswhatandwhen)
3.Deployandtrainpilotusersonenablementtechnology
4.Runpilot,capturelessonslearned
5.RefineABMapproach6.Deployacrossadditionalgroupsandenterprise
1. PeriodicallyreportABMKPIs
2. Establishaccountandpipelinereviewcadence
3.Conductreviews4.Revisestrategyasneeded
SPIABMSuccessFramework
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6. MEASURING AND MANAGING WHAT MATTERS
RevenueGoal
Renewals/RunRateExistingCustomer-ExistingBusiness
Cross-sell/UpsellExistingCustomer-NewBusiness
NetNewNewCustomer-NewBusiness
• Objectives• Strategies&Plans• Resources&Budgets
• Objectives• Strategies&Plans• Resources&Budgets
• Objectives• Strategies&Plans• Resources&Budgets
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6. MEASURING AND MANAGING WHAT MATTERS
KPI Qx-17Goal Q2-17Actual Q1-17Actual YTDTotals
SALs 83 97 86 183
NewOpportunities(NC:NB) 75 75 99 174
NewOpportunities(EC:NB) 28 43 58 101
NewPipe(NC:NB) 6,000,000 29,412,678 17,892,559 47,305,237
NewPipe(EC:NB) 3,750,000 4,364,814 3,471,786 7,836,600
R12MPipe(NC:NB) 24,000,000 48,772,213 30,160,001 48,772,213
R12MPipe(EC:NB) 15,000,000 9,574,372 8,505,768 9,574,372
Wins(NC:NB) 22 11 13 24
Wins(EC:NB) 16 29 22 51
Bookings(NC:NB) 2,000,000 318,820 727,807 1,046,627
Bookings(EC:NB) 1,265,000 563,718 750,425 1,314,143
SPI-1
NewSPI-1Optys 11 21 32
NewSPI-1Pipe 5,451,200 7,391,651 12,842,851
CumSPI-1Pipe 15,312,927 9,595,250 15,312,927
LargeOptys
New$250KOptys 5 22 22 44
New$250KOptys(D+) 20 14 34
New$250KPipe(D+) 2,500,000 23,773,242 9,699,811 33,473,053
Cum$250KPipe(D+) 22,500,000 40,185,456 15,740,833 40,185,456
NewABMOptys 6 3 6 6
NewABMPipe 1,500,000 475,000 1,450,750 1,450,750
CumABMOptys 24 3 6 9
CumABMPipe 6,000,000 475,000 1,450,750 1,925,750
PlanningAssumptions
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6. MEASURING AND MANAGING WHAT MATTERS
Identificationandmeasurementofrole-basedsalescompetencies
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6. MEASURING AND MANAGING WHAT MATTERS
SPI Sales Process Playbooks‣ CRM-integrated, guide the seller’s journey, and
ensure buyer and seller alignment
Situational “Smart Apps”‣ “Just-in-Time” performance
support tools
Situational “Nano Lessons”‣ “Just-in-Time” knowledge
reinforcement‣ 2-5 Minute video-based
segments
Development,enablementandre-measurementofsalescompetencies
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6. MEASURING AND MANAGING WHAT MATTERS
• Velocityreporting• Campaignperformance• Engagementacrosstarget
accounts• Channelperformance• Leadsourceperformance• Segmentperformance• Conversionsthruentire
funnel• ROIacrossallinvestments• Rejectionreasons• ACVbychannel/lead
source/campaign
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7. CLOSING THE LOOP THROUGH WIN-LOSS ANALYSIS
Win-Loss Interviews‣ Why did they choose you, or not?‣ Triggers - Why now?‣ Who funded the investment?‣ How did they source providers?‣ How did they make their decision?‣ Who influenced the decision?‣ What factors mattered most?‣ What advice do you have for us?
Sales
MarketingProduct
CustomerSuccess
$
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ENHANCING TEAMWORK TO MAKE THE DREAM WORK
Sales
MarketingProduct
CustomerSuccess
$
1. Understanding the buyer2. Agreeing on basic planning assumptions3. Aligning solutions with buyer needs4. Aligning message with buyer needs5. Aligning demand gen with organizational
needs and buyer preferences6. Measuring and managing what matters7. Closing the loop through win-loss analysis
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THANK YOU!SPIOffer:
SynthioOffer:MatchyourtargetedtitlestoyourtargetaccountsintheSynthio platformfor500highlytargetedcontacts…forFREEEmail:[email protected]
ComplementarycopyofSPI’s2018SalesPlanningResearchandGuide,toidentifyandprioritize2018performanceimprovementinvestments.Email:[email protected]