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An Introduction to The Challenger Customer
© 2015 CEB. All rights reserved
#ChallengerCustomer
Matt Dixon Group Leader, Financial Services & Customer Contact Practices CEB
© 2015 CEB. All rights reserved
#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
© 2015 CEB. All rights reserved
#ChallengerCustomer
Customer Status Quo
Agreement on a Vision
Purchase Decision
Single Stakeholder Agreement
Organizational Consensus
Traversing the Solutions Graveyard
© 2015 CEB. All rights reserved
#ChallengerCustomer
78% Bigger
10% No Change
12% Smaller
Bigger Buying Groups
© 2015 CEB. All rights reserved
#ChallengerCustomer
n = 3,000.
0%
50%
100%
81%
55% 53%
31%
1 2 3 4 5 6+ Size of Buying Team
60% Purchase
Likelihood
60%
Bigger Groups, Fewer Purchases
© 2015 CEB. All rights reserved
#ChallengerCustomer
n = 3,000.
0%
50%
100%
81%
55% 53%
31%
1 2 3 4 5 6+ Size of Buying Team
60% Purchase
Likelihood
60%
5.4 Average Buying
Group Size
Bigger Groups, Fewer Purchases
© 2015 CEB. All rights reserved
#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 “Closed”
Stakeholder 3: Marketer
Rep Angle: Deeper customer segmentation
Positioning: Develop effective segmentation targeting strategies
Stakeholder “Closed”
1. Accessing Individuals 2.
Clo
sing
Indi
vidu
als
Track Them All down, Win Them All Over
© 2015 CEB. All rights reserved
#ChallengerCustomer
0%
8%
(8%)
4%
(4%)
Cha
nge
in L
ikel
ihoo
d of
Mak
ing
a H
igh-
Qua
lity
Sale
Access to Stakeholders
Evaluating Purchase
Positioning Offering on Value to an Individual
Stakeholder
Not What We Were Hoping For
© 2015 CEB. All rights reserved
#ChallengerCustomer
5.4 Different Perspectives
0%
40%
80%
12% 12%
75%
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.”
© 2015 CEB. All rights reserved
#ChallengerCustomer
1.5
Stakeholder Diversity Index
Stak
ehol
der
Dys
func
tion
Inde
x
2.0
2.5
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
© 2015 CEB. All rights reserved
#ChallengerCustomer
Stakeholder 1 Mental Model
Goal Priorities Metrics Means
Stakeholder 2 Mental Model
Goal Priorities Metrics Means
Stakeholder 3 Mental Model
Goal Priorities Metrics Means
The Lowest Common Denominator
© 2015 CEB. All rights reserved
#ChallengerCustomer
A Better Way Forward
(5%)
0%
20%
4%
(4%)
20%
Access to Stakeholders
Evaluating Purchase
Positioning Offering on the Merits of Value to Individual Stakeholder
Collective Learning
Cha
nge
in L
ikel
ihoo
d of
Mak
ing
a H
igh-
Qua
lity
Sale
§ 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
© 2015 CEB. All rights reserved
#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?
© 2015 CEB. All rights reserved
#ChallengerCustomer
Low Collective Learning
High Collective Learning
Stakeholder Dysfunction
1.0x
0.69X
(31%)
Low Collective Learning
High Collective Learning
Willingness to Purchase Additional
Future Offerings
1.0x 1.23X 23%
Low Collective Learning
High Collective Learning
Willingness to Pay a Premium
1.0x
1.68X 68%
The Collective Learning Payoff
© 2015 CEB. All rights reserved
#ChallengerCustomer
Stakeholder 1 Mental Model
Goal Priorities Metrics Means
Stakeholder 2 Mental Model
Goal Priorities Metrics Means
Stakeholder 3 Mental Model
Goal Priorities Metrics Means
Finding Common Ground
© 2015 CEB. All rights reserved
#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”
© 2015 CEB. All rights reserved
#ChallengerCustomer
The Teacher The Blocker The Climber The Guide
The Go-Getter The Friend The Skeptic
Seven Types of Customer Stakeholders
© 2015 CEB. All rights reserved
#ChallengerCustomer
High Performer Focus Zone Core Performer Focus Zone
Go-Getter Teacher Skeptic Friend Guide Climber
Stars Choose Differently
© 2015 CEB. All rights reserved
#ChallengerCustomer
Mobilizers Get the Deal Done
© 2015 CEB. All rights reserved
#ChallengerCustomer
Don’t Let the Title Fool You
© 2015 CEB. All rights reserved
#ChallengerCustomer
Finding Mobilizers
© 2015 CEB. All rights reserved
#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?
© 2015 CEB. All rights reserved
#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?
© 2015 CEB. All rights reserved
#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?
© 2015 CEB. All rights reserved
#ChallengerCustomer
From a Collection of “Yeses”…
A Collection of “Yeses”
© 2015 CEB. All rights reserved
#ChallengerCustomer
…To a Collective “Yes”
A Collective “Yes”
© 2015 CEB. All rights reserved
#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