An Introduction to The Challenger Customer

#ChallengerCustomer

Matt Dixon Group Leader, Financial Services & Customer Contact Practices CEB

#ChallengerCustomer

When Last We Left You…

• Always goes the extra mile

• Doesn’t give up easily

• Self-motivated

•  Interested in feedback and development

• Always has a different view of the world

• Understands the customer’s business

• Loves to debate

• Pushes the customer

• Reliably responds

• Ensures that all problems are solved

• Detail oriented

• Follows own instincts

• Self-assured

•  Independent

• Builds strong customer advocates

• Generous in giving time to help others

• Gets along with everyone

Hard Worker Challenger Relationship Builder

Lone Wolf Problem Solver

#ChallengerCustomer

Customer Status Quo

Agreement on a Vision

Purchase Decision

Single Stakeholder Agreement

Organizational Consensus

Traversing the Solutions Graveyard

#ChallengerCustomer

78% Bigger

10% No Change

12% Smaller

Bigger Buying Groups

#ChallengerCustomer

n = 3,000.

55% 53%

1 2 3 4 5 6+ Size of Buying Team

60% Purchase

Likelihood

Bigger Groups, Fewer Purchases

#ChallengerCustomer

n = 3,000.

55% 53%

1 2 3 4 5 6+ Size of Buying Team

60% Purchase

Likelihood

5.4 Average Buying

Group Size

Bigger Groups, Fewer Purchases

#ChallengerCustomer

Stakeholder 1: CIO

Rep Angle: Minimal work-flow disruption

Positioning: Seamless integration with legacy systems

Stakeholder “Closed”

Stakeholder 2: Financial Analyst

Rep Angle: Cost savings

Positioning: Write-off of existing platform

Stakeholder 3: Marketer

Rep Angle: Deeper customer segmentation

Positioning: Develop effective segmentation targeting strategies

1. Accessing Individuals 2.

Track Them All down, Win Them All Over

#ChallengerCustomer

Access to Stakeholders

Evaluating Purchase

Positioning Offering on Value to an Individual

Stakeholder

Not What We Were Hoping For

#ChallengerCustomer

5.4 Different Perspectives

12% 12%

Disagree or Strongly Disagree

Neither Agree nor Disagree

Agree or Strongly Agree

Q: “People from a Wide Variety of Roles, Teams, and Locations Were Involved in This Purchase.”

#ChallengerCustomer

Stakeholder Diversity Index

2.5 4.0 5.5

Stakeholders don’t have a fair say

Stakeholders avoid discussing key issues

Stakeholders have multiple disagreements

Kinds of dysfunction:

The Real Enemy

#ChallengerCustomer

Stakeholder 1 Mental Model

Goal Priorities Metrics Means

The Lowest Common Denominator

#ChallengerCustomer

A Better Way Forward

Access to Stakeholders

Evaluating Purchase

Positioning Offering on the Merits of Value to Individual Stakeholder

Collective Learning

§ Virtual Learning Labs – PLUS •  December 10 – Selling to Couples – How to Close the Sale with Two Different Decision Makers

§  Holly Buchanan, CEO at Buchanan Marketing LLC

§  Public Sales Management Workshops •  April 12-13, Hilton Suites Chicago

•  September 20-21, Hilton Suites Chicago

§  Coaching the Conversation •  December 17 – Presence

Make 2015 the year of HOW with St. Meyer & HUBBARD

#ChallengerCustomer

Collective Learning: An interaction where stakeholders explore, debate, and build on each other’s perspectives, finding points of unrecognized agreement and arriving at a shared understanding.

Exploration of objections, concerns, and uncertainties amongst stakeholders

Surfacing disconnects and competing viewpoints

Mutual willingness to deepen their understanding of their challenge and solution

Active probing for missed interdependencies or unanticipated consequences

Joint resolution of objections, concerns, and uncertainties

What is Collective Learning?

#ChallengerCustomer

Low Collective Learning

High Collective Learning

Stakeholder Dysfunction

Willingness to Purchase Additional

Future Offerings

1.0x 1.23X 23%

Willingness to Pay a Premium

1.68X 68%

The Collective Learning Payoff

#ChallengerCustomer

Finding Common Ground

#ChallengerCustomer

1.  Readily accessible and willing to talk

2.  Provides information unavailable to suppliers

3.  Pro-supplier’s solution or products

4.  Good at influencing others

5.  Speaks the truth

6.  Credible among colleagues

7.  Conveys ideas in savvy ways

8.  Delivers on commitments

9.  Will personally gain from sale

10.  Networks reps with other stakeholders

Advocate/Coach

Conventional Wisdom: Find an Advocate or “Coach”

#ChallengerCustomer

The Teacher The Blocker The Climber The Guide

The Go-Getter The Friend The Skeptic

Seven Types of Customer Stakeholders

#ChallengerCustomer

High Performer Focus Zone Core Performer Focus Zone

Go-Getter Teacher Skeptic Friend Guide Climber

Stars Choose Differently

#ChallengerCustomer

Mobilizers Get the Deal Done

#ChallengerCustomer

Don’t Let the Title Fool You

#ChallengerCustomer

Finding Mobilizers

#ChallengerCustomer

1. Engage Mobilizers with Commercial Insight, not Thought Leadership

2. Equip Mobilizers to Create Collective Learning Moments

3. Track Mobilizer Progress through a Customer-Verified Pipeline

I Found My Mobilizer…Now What?

#ChallengerCustomer

From a Collection of “Yeses”…

A Collection of “Yeses”

#ChallengerCustomer

…To a Collective “Yes”

A Collective “Yes”

#ChallengerCustomer

Learn More and Join the Conversation

challengercustomer.com

#ChallengerCustomer

@CEB_Challenger

December 10, 2015 11:00 AM – 12:00 PM CST

Selling to Couples – How to Close the Sale with Two Different Decision Makers

Holly Buchanan CEO at Buchanan Marketing LLC

An Introduction to The Challenger Customer · • Pushes the customer • Reliably responds •...

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