AMA Marketing Effectiveness Online Seminar Series Becky Bjelopetrovich

1 Customer Message Management Forum 2005

AMA Marketing Effectiveness

Online Seminar Series

Becky Bjelopetrovich

American Marketing Association

2Customer Message Management Forum 2005

A wealth of information is available for marketing professionals at

www.MarketingPower.com

The #1 marketing site on the web

http://www.marketingpower.com/


Commonly Asked Questions1. How do I submit questions? 2. Will I be able to get copies of

the slides after the event?

3. Is this web seminar being taped so I or others can view it after the fact?


Commonly Asked Questions

Yes

1. How do I submit questions? 2. Will I be able to get copies of

the slides after the event?

3. Is this web seminar being taped so I or others can view it after the fact?

Yes

Yes


CMM Thought Leaderswww.marketingpower.com/cmm

Founding sponsors:

Associate sponsors:


Introducing Today’s Speakers

Tim Riesterer President CMM Forum

Barry Trailer Co-Founder CSO Insights

John Orvos Founder Sell Masters


Feel the Rhythm Feel the Rhythm

Getting Marketing and Sales in step Getting Marketing and Sales in step with the customer buying cycle with the customer buying cycle


AMA’s CMM Portal www.marketingpower.com/cmm

http://www.marketingpower.com/cmm


Today’s speakers

Tim Riesterer Co-founder CMM Group

Barry Trailer Co-Founder CSO Insights

John Orvos Founder Sell Masters


Message Maps and Gaps

• 100 CMOs/Marketing Executives surveyed• 70% - view sales messaging as a strategic

source of differentiation• 25% - satisfied with sales’ ability to deliver

#1 Concern: Decreased sales performance in the area of value and solution selling


Executive Summary

• Sales messaging is a priority for CMO’s – but a largely untapped opportunity to date

• Relatively few of the companies who responded to our survey felt that they ‘got it right’

• There are several emerging ‘best practices’• Those companies who built a strong

messaging platform and process reaped compelling financial benefits


Best Practice #1

• Invest in the development of messaging appropriate to value and solution selling– Customer problem-centric, not company product centric– Most companies do not have customer and/or market-

focused selling ‘playbooks’ – Requires re-orientation and investment


Best Practice #2

• Work in partnership with the sales team to define messaging platforms – early in the content development cycle – and align with the sales process– Nearly 50% of our respondents had sales teams ‘involved

or very involved’ in message development


Best Practices #3

• Provide sales teams a single web-based means to access important messaging information– Centralize the many disparate product and geographic

sources of product information– Provide thoughtful taxonomy and search tools to provide

quick access to relevant information


Best Practice #4

• To enhance sales effectiveness, provide tools to help the sales team to customize messaging and collateral material to the particular opportunity– Up to 40% of a typical sales reps time is spent in pre and

post sales preparation and follow-up – Eliminates ‘rogue marketing’


Best Practices #5

• Routinely and aggressively audit the usage and satisfaction of the sales team with the collateral, sales tools, and messaging platforms developed by marketing – Only 25% of companies report doing this well today


The Payoff

• Do companies who have successfully developed customer-focused solution messaging programs outperform the market?

• Do sales teams who are confident in the

messaging outperform the competition?

CSO Insights looked at 1,300 companies to determine the impact of world-class messaging on key sales effectiveness metrics


Barry Trailer, CSO Insightswww.csoinsights.com

Can Sales and Marketing Dance without stepping on each other’s

toes?

http://www.csoinsights.com/


11th Annual Sales Effectiveness Benchmark Study

Surveyed 1,000+ Companies Worldwide• 50% US Organizations, 50% International• Small, Medium, Large Firms• Analyzed Performance Across 100+ Metrics• Assessed Role People, Process, Technology,

and Knowledge were Playing in Their Effectiveness Plans.


Percentage of Reps Meeting/Exceeding Plan

The “Good News”

Sales Rep Performance vs. Quota

Under Quota41.2%

Met or Exceeded Quota58.2%

But are we working Smarter or just Harder?


Percentage of: - Length of Average Sales Cycle- Number of Calls to Close- Win Rates- New Rep Ramp Up Times

The “bad news”…

Remained essentially unchanged.


Ability to: -Generate Accurate Bid/Configuration-Create a Complete Business Case-Up-Sell & Cross-Sell

In addition…

Remained unchanged or declined.


31.6%

17.7%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

Voluntary Turnover Involuntary Turnover

Sales Force Turnover Rates


New Sales Rep Time to Full Productivity

<3 Months8.3%

3 - 6 Months34.9%

7 - 12 Months29.2%

12+ Months20.8%

Don't Know6.9%


Sales Effectiveness Components

Process

People

Technology

Knowledge


“It’s OK if Marketing doesn’t’ provide Sales with proper

messaging—sales reps will just make up their own.”


0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

50.0%

Dismal Poor Average Very Good World Class

Ability to Effectively Introduce New Products

All Responses

World-class CMM


0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

Dismal Poor Average Very Good World Class

Ability to Sell Value/Avoid Excessive Discounting

All Responses

World-class CMM


0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

<10% 10 - 25% 26 - 50% >50%

Percentage of Presentations Resulting in a Sale

All Responses

World-class CMM


0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

<20% 20 - 50% 51 - 75% >75%

Percentage of Proposals Resulting in a Sale

All Responses

World-class CMM


SKM Usage Assessment - Sales Support Tools

1 2 3 4 5

Sample Phone Scripts

Sample Customer Letters

Needs Analysis Templates

Sales Process Information

Presentation Templates

Proposal Templates

Strategic Account Plans

User References/Case Studies

Objection Handling Insights

Competitive Analysis Insights

Value

Ease of Access

Completeness/Accuracy


John Orvos, Sell Masterswww.sell-masters.com

Marketing’s Moments of Truth

http://www.sell-masters.com/


Agenda

• Marketing’s “Moments of Truth” – Buyer-Centric Model

• What’s the problem for today’s sales force?

• What do Sales people need from Marketing?– A sales point of view

• Getting started


BuyerBuyer SellerSeller

So, what’s the big problem facing your sales force?


“I need to spend more time with those who can bring me the most value and less time with those who cannot.”

“I have a limited budget so I need to get the most value for every dollar.”

“I need someone who really understands my business and who is in it for the long term.”

“It’s not my job to educate the sales person.”

“I like to buy. BUT I hate being sold.”

…It’s aligning with tougher Buyer thinking


“Our space is becoming more competitive all the time. How do I differentiate my company?”

“The prospect is making me run around in circles. When will they just make a decision?”

“It’s getting harder and harder to justify our price. How do I communicate the value?”

“I need to do a better job accessing and influencing senior level key decision makers.”

“I thought they were ready to buy. Now it’s just stalled.”

So, what is today’s Seller thinking?


“I may have an issue to

solve”

“Which Solution do I

choose?”

“What if I make the

wrong decision?”

“I KNOW their INDUSTRY,

BUSINESS & other NEEDS”

“They DO need to take action.

Here’s a reason why”

“We are the best

solution/fit”

“We will make CERTAIN they’re

SUCCESSFUL”

Where is Buyer-Seller misalignment occurring?B

uyin

g M

ind

set

Bu

yin

g M

ind

set

Sellin

g P

rocess

Sellin

g P

rocess

“Is it worth my while to meet with a

sales person?”

“Do I need to take action now?”

“Do they really

understand my needs?”

“How do I sell this

internally?”

“I’ll show them what we’ve done for

customer X”

“We need to get a meeting with the

CXO”


Misalignment at “Moments of Truth”

Pivotal points when things either get bogged down…or advance a sales opportunity”


Getting in alignment at Moments of Truth

Buying MindsetBuying Mindset

REALIZEREALIZESEEKSEEK

CONSIDERCONSIDERBUYBUY

Gain Access

Selling ProcessSelling Process

Target/Research

Discovery, Validation &

FitNegotiation & Close


How can Marketing help sales at the Moments of Truth?

Aggregate information and tell them everything you know

Provide on the “distilled points of intelligence”

OR

Result: Moves tribal knowledge into a meaningful strategic corporate asset that sales people can USE

With sales and marketing both trying to do the same thing… …What is the Sales person’s point of view to this question?


The answer: Aggregate = “Aggravate”

Sales people are binary: Will this activity make $ or not?

Oceans of information• Mass information are

useless• Aggregating makes this

even more useless

Transform from Aggregating into Distilling

• Distilling it and organizing to be used during specific moments of truth


Put an “SS” on your chest

Provide marketing muscle during a

sales person’s moments of truth

Only marketing has the discipline to organize this: • You’re a “thought” leader =

power – Power only buys from power

• Sales people will NEED you…if you can do this– They will not need you if you

aggregate data which goes unread


Getting Started

How to transform marketing messaging & information into a distilled strategic

corporate intelligence asset for sales forces to use during their moments of truth?


How do I know where to distill intelligence

Think like a “Sleuth” & Think like a “Sleuth” & interview your sales forceinterview your sales force

Detective work to interview your sales force

Willing to go extra mile for information

Returns to sources for updated intelligence & changes

Detective Peter Falk a.k.a “Columbo”

Detective Peter Falk a.k.a “Columbo”

Gets right out into the field


Distilled Intelligence Asset #1

Target Buyer Challenges, Drivers and QuestionsTarget Buyer Challenges, Drivers and Questions

Who are the buying executives (titles) that we target? How are they measured for success? Why are they fired?

What are the top 3 challenges that each executive is facing currently? • For each challenge, what questions can your sales person ask “other people around this

targeted executive” to find out if this challenge is important to this executive?

• For each challenge, what are the best opening impact statement that a sales person can make “to that target executive” to get them interested in meeting with us?

Gain Access

Target/ResearchDiscovery,

Validation & Fit Negotiatio

n & Close


What’s Their Key Decision CriteriaWhat’s Their Key Decision Criteria

Who are the buying executives (titles) involved in a decision?What are the 3 most important criteria for this executive to buy any solution?

Finish the sentence for this executive (title): “The vendor we select to partner with must have the following…”

What are questions a sales person can ask this executive about these “criteria”:• That will answer “why” they value these criteria?• To determine if they are motivated to buy any solution at all?


Gain Access



n & Close


ObjectionsObjections

What is a typical objection we hear? What is our best response to that?


Gain Access



n & Close


Company Strengths and WeaknessesCompany Strengths and Weaknesses

What are the three most important Strengths of our company? • What makes the company strong and what are the difficulties

we face when selling? What is our key market differentiator in this context?


Gain Access



n & Close


Competitive Strengths and WeaknessesCompetitive Strengths and Weaknesses

List competitors

What are our S&W vs. each competitor?What are their selling tactics? What landmines do they lay when they compete with us?What preemptive strikes can we do to neutralize these?


Gain Access



n & Close


Thank you

For more information, please contact:

John Orvos

www.sell-masters.com

1-609-430-8357

[email protected]

Need a tool to bring this together?

Ask about Ask about MaestroMaestro

http://www.sell-masters.com/

mailto:[email protected]

Thanks for your time and participation today!

To replay this webcast and access the slides (available October 11th):go to www.MarketingPower.com/cmm

To contact today’s speakers: Barry Trailer ,CSO Insights

[email protected]

www.csoinsights.com

John Orvos, SellMasters609-430-8357

[email protected] www.sell-masters.com

Tim Riesterer, CMM Forum, LLC

262-251-3726 [email protected]

www.customermessage.com

Questions for AMA: Becky Bjelopetrovich

[email protected]

Documents

AMA Marketing Effectiveness Online Seminar Series Becky Bjelopetrovich