1. Sell, don’t market your way to success with new paradigm offers

    by
      B2B companies bringing new offers to market risk long delays in product or solution uptake. Too often this leads to direct failure. Failure rates range from 40% to 80%. Clearly a risky and expensive bet. This risk isn’t limited to startups. Often we see large companies struggle to gain traction with new offers or new markets. One senior executive told me, “we are buried in our core brand.” This isn’t about direct replacement offers. But for what analyst firm SiriusDecisions terms “new paradigm and new concept” solutions it is a significant challenge.   New Paradigm Offers Require a Different Go-to-market Strategy New paradigm solutions provide a different way to solve business problems than existing solution methods. Customers may not understand key underlying causes of their problems that are resolved by new solutions. Sellers could be addressing problems customers aren’t even aware of. Or, they may not even see their problems...
  2. A Conversation About B2B Selling Content

    by
      “What is the state of B2B selling content today?” That was the first question Barb Giamanco asked me on her sales podcast, Right Message, Right Support, Right Sales Content, on the Razor’s Edge. How would you answer that for your organization? How would you know? Is your selling content considered short life collateral, or mostly long-life assets? What criteria would you use to audit the quality and usefulness of your content? Do you have an inventory that would make an audit possible? These are some of the questions we discussed. Below is an outline of key points I addressed that you might want your organization to consider.   Key Considerations for Effective Selling Content If your sales team conducts a complex, solution or value sale, situation-ready selling content is essential for your success. If you are trying to shift your selling model from a traditional product-feature-benefit approach to a...
  3. The epidemic in B2B sales prospecting

    by
        Many B2B selling organizations hit a wall in their new customer acquisition and revenue growth rates. Sales pipeline quality, volume and conversion rates are both symptom and impact of this situation. This condition is especially evident in companies that are engaged in a complex or solution sale. Sometimes this is called a system or platform sale. The analyst firm SiriusDecisions calls it a “new paradigm” or “new concept” sale.  I and others use “value sale”. Even companies with a traditional, product selling model are not immune. Companies that experience stalled revenue growth may attempt to shift from traditional product selling, to a more consultative and comprehensive solutions or platform approach. Too often they bring their traditional selling mindset, process and skillset with them. The B2B sales prospecting epidemic is the result of a critical underlying cause most people are unaware of and do not fully appreciate even when they become aware.   An Example Companies that have had a...
  4. The B2B Value Sale is Actually Three Distinct Sales

    by
      Companies trying to execute a B2B solution or value sale must overcome selling problems that start at the prospecting stage and persist to the end. Symptoms include too few quality additions to the sales pipeline, protracted and lengthening sales cycles, and low win rates. A significant cause is sellers haven’t realigned messages, sales conversations, and sales process to the way buyers buy. This situation becomes more pronounced when selling to prospects who aren’t in an active buying process. We call this a “Find vs. Create Opportunity” situation. (See Find vs. Create Sales Opportunities) When I speak with B2B sales professionals they readily acknowledge there are not enough active buyers to meet quotas. In most organizations sales people tell me 80% of sales prospects have to be “created” as opportunities. But even with active buyers there are opportunities for B2B sales professionals to up their game. After all, they are often...
  5. Overlooked cause of low sales and marketing results

    by
      In this digital era, content is a primary driver of sales and marketing performance. We have written extensively on this. Background articles are referenced at the end of this article. Poor or missing content is an under-appreciated reason B2B selling organizations experience lower than projected new customer acquisition and revenue growth results. High selling costs are both a symptom and additional casualty. In addition to adverse business impact, companies experience content costs 30 to 50% higher than they should. Output from current content production methods are typically 20% what they could be. When we investigate the reasons for poor or missing content we find three reasons that frequently stand out. These are remarkable both because of their importance, and because they aren’t well understood or appreciated. 1. An ineffective or non-existing business level content strategy. Survey results from Content Marketing Institute indicate that an appalling 48% of respondents claim...
  6. Capture Sales “Situational Fluency” for Effective B2B Sales Coaching

    by
      In the B2B selling world there is near universal appreciation for the value of sales coaching. Research indicates significant impact on forecasted deal win rates, revenue growth and other selling metrics. Research from The Sales Management Association show sales people believe it’s the most important, least supported sales resource.     The constraints are equally clear. The big impediments are no surprise: lack of sales manager time, skills, and accountability.     We discovered a core cause of these constraints that makes the situation look even worse. It explains why, despite the universal acknowledgement of coaching importance, it isn’t being conducted regularly and effectively. This discovery made us appreciate the current approach to sales coaching will never be universally executed effectively and consistently. If it could, it would have. It’s simply too difficult. A new approach is needed. What Are We Coaching For? The top level objective of sales coaching is clear. We’re...
  7. Find vs Create Sales Opportunities

    by
      One of the early questions I ask prospective B2B clients is: “When you go-to-market through your marketing and sales functions, what percent of your target prospects are find vs create opportunities?” The answer to this question has significant, if usually unconsidered, implications for tactic selection and business results.   Find Opportunities “Find opportunities” are where prospects are actively looking for something similar to what you sell. They know they have a problem. They have a good understanding of the problem and it’s impact or cost on the business (reason to change). They understand generally what they need to solve the problem. What they are looking for relates to your product or service category in the market. They also have a pretty good idea of what they expect to pay. Find opportunity prospects are actively searching. Marketing tactics such as advertising, inbound and content marketing, and SEO are effective here....
  8. The Missing Ingredient for Sales Coaching

    by
      There is a generally high desire for sales coaching in B2B selling. Most managers and reps know it’s important. Done well, coaching can make a significant difference to rep and manager performance and success. Financially, everyone has a lot at stake. But sales coaching is seldom done. Consistently. Or well. Why is that? What’s missing? To be successful sales people need: Knowledge and information (including sales strategy and process), Skills and techniques, Conversations and messages These inputs enable sale people to know What to do, What to say, How to say it. We are among many who believe how you sell is a primary way to create value for prospective buyers, and to differentiate from competitors. Training programs provide the initial vehicles to “prepare sales for the fray” as one of my colleagues says. Training methods include information transfer, modeling best practices, and sales practice with feedback. Training prepares sales...
  9. B2B Sales Conversations — By Design

    by
    To paraphrase David Packard, sales conversations are too important to leave to sales people. B2B sales conversations for key touch points should be designed. This optimizes conversation effectiveness and simplifies selling. It provides a common baseline that makes feedback and continuous improvement possible. How have you designed the sales conversations for your key touch points? How well do each of your sales people handle conversations at key touch points, or with different stakeholders? How consistent is the delivery of your messages across your sales teams? How does stress affect these results? I’m talking about the conversations where, when they are performed well, you’re in the game. You’re gaining respect and trust that makes it possible for you to educate buyers and influence a buying vision and decision criteria. Poorly performed conversations mean you might not even get into consideration, or might just be pricing fodder. According to SiriusDecisions, 71% of sales...
  10. Adopt a “Buying” Sales Mindset

    by
    In my view selling is 85% mindset and 15% technique. Unfortunately, most sales professionals focus primarily on learning sales techniques. Adopting a better sales mindset might be what’s required. I call it a “buying” mindset. I’m looking to acquire customers for my business. What is Selling? This is a question I regularly ask B2B sales professionals, especially those with new customer acquisition responsibility (hunter), more than an account maintenance (farmer) role. I get all kinds of answers. But generally they sound like: “Persuading someone to buy my product or service.”   “Finding people who need my product and convincing them we have the best.” “Selling is the way that you help customers to buy products and services from your business.” As you are undoubtedly thinking, there’s nothing really wrong with these answers, and the thinking they reflect. But they imply two things: Selling is something you have to do (can...

B2B Marketing Zone