Posts related to B2B marketing and sales

Collaborative Qualification

Post originally published in 2014

We have written a few articles about collaborative qualification and how to select and apply the right sales qualification tools  – including SCOTSMAN and BANT. These tools are quite familiar to B2B sales and teams that focused on a considered sale.  Yet, we see some challenges:

  • As clients are self-selling on websites, they will pre-qualify (assuming they find buying content on the website). This changes the role of sales-led qualification.
  • BANT is a proven model, but  the focus is on qualification from the seller perspective, it works better to qualify OUT the opportunity rather than qualify IN the opportunity.  It does not help build a collaborative relationship with the client. It is confrontational.
  • SCOTSMAN is another great model as it offers a  nuanced approach, but it is hard to remember each of the elements in the mnemonic on the fly. Sales reps may need to pull out a cheat sheet which can be difficult in the heat of the moment. ( See our other post on BANT and Scotsman to learn more. )

So what is the right approach to sales qualification? We suggest a collaborative approach using FACT.

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Marketing and Sales

Written with contributions from Ed Funaro

As growth focused companies realize the critical synergies required across the marketing, sales and customer success functions, they are increasingly recruiting a Chief Revenue Officer (CRO) to lead the way. Yet many CROs fail without a properly defined role and an adequate onboarding process. It is vital to ensure CRO success.

A Chief Revenue Officer (CRO) is responsible for a company’s revenue streams. He/she has the ultimate accountability for driving revenue growth. The role is clearly cross functional. The CRO oversees and aligns revenue-generating departments: Marketing, Sales and Customer Success. It is a challenging role. The average tenure of a Chief Revenue officer working at the same company is incredibly brief – only about 18 months, according to an annual survey from CSO Insights.

The first 90 days are critical – Whether a company makes money rests with the CRO. Expectations are that the CRO will have about one quarter or 90 days to prove they can meet management’s expectations. As Michael Watkins points out in his top selling book The First 90 Days.

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Chief Revenue Officer

The CRO is Responsible for Predictable and Sustainable Revenue Growth

This post is updated. It was originally published in July 2016

Today, companies recognize the need for a company-wide revenue focus and a more integrated approach across marketing and sales. The CRO oversees the traditional responsibilities of the VP of Sales and the Chief Marketing Officer and is a member of the senior team overseeing go-to-market strategy and execution. The CRO is  responsible for aligning company resources, defining differentiated go-to-market strategies and delivering on the company’s revenue performance goals.

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Professional selling is senior selling. It may be a seller-doer model, as in consulting, or an expert-driven sales model for high value products and services. Professional selling is not about directing a junior team of salespeople, it is about senior people doing the selling – establishing their personal brand, actively building a network and engaging both existing relationships and new prospects with thought leadership and insights.

Clearly, LinkedIn is an established resource for professional sales. It helps senior professionals find and engage with specific prospective clients or buyers with personal 1:1 interaction, establish professional credibility and share content and resources to nurture and develop prospects. It also offers paid options to build awareness and encourage lead conversions.

So how can senior professionals take advantage of LinkedIn? You can simplify it with three steps (and a few sub-steps). 1. Develop a strategy, 2. Establish the systems you need, 3. Execute your program(s).

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Marketing Plan

 

Accelerated, predictable, and sustainable revenue growth requires a company-wide commitment. When developing a marketing plan, consider these questions. These can help you develop your Revenue Architecture and expand your revenue performance potential.

The 9 dimensions take a broad view of revenue growth dimensions and help you focus your sales and marketing planning.

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“The failure to follow a well-established development process is causing many organizations to miss the mark when it comes to designing content and campaigns that resonate strongest with their customers and prospects.” -Tim Riesterer, Chief Strategy & Marketing Office, Corporate Visions

Everyone will agree that building demand is one of the primary goals of marketing. In fact, it may well be Goal #1. The question is, what can asset managers do to create stronger demand for their products with advisors?

In the world of demand-generation marketing, we hold that creating Message Maps centered on a Pain-Empathy-Insights approach is a critical step in the process.

Building Message Maps is a great way to bring structure to the development of communications assets designed to escort prospects through the buying cycle.

Before we describe them in more detail, let’s consider a serious challenge Simon Sinek issued to conventional thinking about prospect engagement.

Simon got it right.

For those of you who haven’t read his books or seen his Ted Talks, Simon Sinek is a highly regarded marketing consultant and educator who has inspired tens of thousands of people to turn his concepts into action.

Simon says companies that do marketing right create overtures that focus on why they do what they do rather than on what they produce.

This only stands to reason, he says, because it corresponds with how people behave in the marketplace. They buy based on why they need not on what they get.

How does this apply to you and the messaging you create?

Relevance is the answer.

Focusing on the why allows you to speak to your ideal audiences in their own voice and to create communications that are specific and pertinent. That’s the way to maximize your impact and fulfill one of today’s marketing’s most important missions – relevance.

To develop high impact, content-driven demand marketing and persuasive selling, start by focusing on the buyer’s pain, offer up empathy by describing and understanding their individual role, then provide insights in the form of thought-leadership content.

Here’s an example of what this looks like in a Message Map model:

Engagement Persona: Time Strapped Independent Advisor

Message Maps 3

Before you begin any coordinated communications campaign, we suggest that you build Message Maps targeting your ideal advisors.

Remember, a Message Map approach is designed to get your prospects to take the next step. You want to incent them to deepen a dialogue with you.

That’s how true engagement is created.

Download a copy of the Buyer Engagement eBook: “Exposed: The False Promises of Revenue Marketing”