KNOWLEDGESTREAM AT-A-GLANCE

Leveraging New Technologies for B2B Sales Excellence

ABSTRACT

How do top performing B2B sales leaders invest in their team's ability to consume new technology as part of their climb towards sales excellence. What has worked repeatedly? What have been the most painful lessons along the way?

PARTICIPANTS

Rainier Van Rietschoten
Co-founder - CCO
David Feidner
Collaborative Global Leader & Executive Coach
David Cottrell
Managing Director @ Gradient Limited
Don Barefoot
Principal/CEO of Integrity CEO Advisors
Paolo Beffagnotti
Brand Protection Digital Manager
Alexander Robinson
BDM Seeing Machines | Co-Founder Airly | Writer | Pilot
Joe Baker
CEO | President | Global P&L | Manufacturing | Operational Transformation | Rapid Sales Growth - assisting Duke Energy
James Donnellan
UNDERground Villas & Hotels / Lusso Capital / CelebSocially / Starsona / SWAG'R / Polymath Apparel / Yacht Stayz
Joan Dharmadi
Senior Business Development Manager
Patty Soltis
Principal Analyst - Customer Experience
David Berkowitz
Serial Marketer: marketing & strategy leader connecting ideas, people, and technologies
Joe Boglino
VP of Strategic Alliance
Meghan Cox
National Key Account Manager at RECKITT BENCKISER
Frank Albanese
VP Marketing and Business Development
Jean-Paul Alibert
Président - Managing Director France at T-Systems France
View More >

OBJECTIVES

1. Major changes in B2B buying behavior: Distill relevant trends and industry examples of how past (and current) selling techniques fall below buyer expectations

2. What's important to sales leaders: Given this stage of buyer change, how do sales leader identify and prioritize key drivers of success?

3. Sellers' response to shifting buyer behavior: Categorize the types of changes sales have made in response, with an understanding of the range of impact and feasability

4. What's to come?: What do we need more of? Less of? to make buyer/seller interactions more effective for both sides.

100% Complete
Start Date: May 2, 2018
End Date: Jul 17, 2018
680

CONTRIBUTIONS

ACTIVITY

84 Days

5 Themes

17 Contributors

543 Posts

137 Comments

84 Followers

OUTPUTS

4 Slide Deck

4 Video

THEME #1

How have your biggest sales challenges changed over the past 3-5 years?

THEME SUMMARY

Buyers are more empowered and emboldened with higher expectations than ever before.

  • More choice: global marketplace of providers, increased ease of DIY solutions, technology has lowered barrier to entry in most industries creating many new players.
  • Buying experience is a differentiation point: the proliferation of new sales methodologies, the amount of new entry-level sellers has created a wide quality gap in the buying experience

Buyers have a higher expectation of control and choice

Domestic and International Customers are more than willing to research options and do their own design work from a variety of competitors before you even know there is a requirement!

Global markets and new sales channels mean new opportunities as well but you need to adapt for the fast changing markets and players. Keep administrative activities under control, sales team need to focus on clients and prospectives

The wide quality gap in sales experience can create a competitive advantage

But process and technology have not only evolved strategic sales, it's made a huge difference with transactional. Hunter/Farmer has evolved to a range of ever more specialized roles for each stage of the funnel. The ecosystem of CRMs like salesforce, has produced accelerators like insidesales.com, and a whole range of gamification applications. Gamification is amped up social science, and this platform (Convetit) is a great example applied to market research.

the last 3-5 years have seen a proliferation of "solutions selling," and trendy / slick marketing and sales techniques. Whether in the guise of proposals, presentations, or software/hardware/X-as-a-Service, or even "inventing" problems in order to market the solution

More companies are willing to take on more projects in-house, creating yet another competitive threat to vendors

Domestic and International Customers are more than willing to research options and do their own design work from a variety of competitors before you even know there is a requirement!

My biggest surprise was - the degree to which customers embrace the self service approach that providers have pushed to customers - retail, B2B, B2C - it matters not.

Our reputation precedes us and it's now more important to be credible and authoritative through public forums and social media.

LinkedIn became more than a career platform, and social selling took hold. Top sales people, often working with marketing teams, got really good at merging corporate with personal branding and thought leadership, creating a more efficient and effective method for nurturing all those points of contact within a long-term sales cycle.

Tell a nice story and push the buyer to identify with your product. Be social, this is now the main sales channel, Facebook, Instagram, WeChat, Yupoo, VK are on the lead now based on your location. Use your authority and experts opinion to influence the buyers. Create the need.

THEME #2

How have the skills, intrinsic talents, attitudes, and motivations of your leading sales reps changed?

Increased comfort with data

Industry mastery

General Adaptability and openness to change

Leveraging new customer-focused technology

Seeing the big picture

THEME #3

Coaching: What challenges have you faced with coaching your reps?

THEME SUMMARY

Coaching and ongoing development of your sales team is critical to success in today's B2B sales environment.

  • Coaching is different than managing
  • Coaching requires thinking long-term over short
  • Coaching requires commitment and a growth mindset
  • Tools are available to assist

SURVEYS

people | 10
My company currently uses objective performance data to inform and improve rep coaching.
Yes, absolutely.
80.00% 8 votes
No, we coach but based on subjective measures
10.00% 1 vote
Coaching? What are you even talking about?
10.00% 1 vote
 

Coaching is different than managing

It takes time to act as a coach. How many good managers have you encountered that have not been good coaches? Who trains managers to become good coaches? In a results-driven environment it takes special people to 'put an arm around someone's shoulder' and offer coaching.

It's good to remember the personal side of coaching. I've worked for super-efficient people that knew everything about the business but nothing about the people that worked for them.

Short vs Long-term thinking

Back to my sporting analogies. Do you buy the players at the top of their game and aim for short-term impact or the player that could develop and deliver 10 years of service?

Sadly, it's frequently assumed that once the initial training is conducted and a sales rep is successful that's all (s)he needs for continued success. A professional sports team wouldn't go without a coach for one minute. Why business organizations think or act as if it's not necessary is beyond me.

Commitment and mindset

The key to coaching - a way of engaging intentionally to develop others by asking challenging/relevant open-ended questions - is to have the trust and mutual buy-in of both coach and coachee.

One of the key values that I have in my organization is ownership and responsibility. This means that every rep is fully responsible for his or her own succes, actions and obviously accounts. The reason this is so important to me is because I believe ownership increases quality and speed.

Tools are available to assist

What has worked is a simpler approach where as a leader I shed any allusion to being an expert, and allowed myself to be taught by my team. In doing so the team became more vulnerable and open to learning, so I found an inexpensive sales training platform; https://rapidlearninginstitute.com/.

There are several coaching software to play with, https://www.capterra.com/sem-compare/mentoring-software?gclid=EAIaIQobChMIwbm_5rS-2wIViz8bCh1DWgjKEAAYBCAAEgJw5PD_BwE&;gclsrc=aw.ds.

THEME #4

What role does technology play in creating a Modernized sales team?

THEME SUMMARY

Sales technology has the ability to improve efficiency by automating repetitive tasks, such prospect list building, and effectiveness by providing new measurements and insight into rep performance.

  • More tasks, activities, and process are possible to automate than ever before thus freeing up sales rep time to focus on customer priorities.
  • New measurements, metrics, and automated analysis allow us to identify the sales activities that have the greatest impact on revenue generation and customer satisfaction.
  • The explosion of new tools increases the risk of fatigue and burnout among end users and wasted investment.

SURVEYS

people | 9
Of all these positive sales outcomes, which do you think can be most impacted by great technology?
More new opportunities - new logo/client
66.67% 6 votes
More new opportunities - existing client/upsell
0.00% 0 votes
Close more existing opportunities
0.00% 0 votes
Close deals at higher price and total amount
11.11% 1 vote
Close deals in less time
22.22% 2 votes
 

Prospect profiling and list building

For enterprise level teams practicing account based marketing, tools like Discover.org and LinkedIn navigator are critical

What tools could you not live without? Lead generation: LinkedIn Premium (but not Sales Navigator - overpriced, and not worth the difference between Premium. No real additional functionality or ability to prospect, yet.)

BEWARE: Tool overload and burnout

I am not going to argue that good technology is key to the success of modern day salesteams. But, tools and technologies are popping out of the ground like mushrooms and everything seems to be usefull and handy, but also takes time. Too many tools can also be a major distraction from actual selling.

I think that there are pitfalls to avoid when deploying resources to focus on data analytics. Most of the databases/apps I've seen are full of unusable data which you can't report on or can't verify. This usually happens because of time constraints or lack of agreed upon standards of data quality

Performance management and employee retention

I've found that it's critical to measure the effectiveness/yields and energy/activity of each sales person's "process" in a systematic way to ensure that complacency/distraction doesn't set-in, especially with those representing an established leadership brand that somewhat "sells itself."

Great technology makes things measurable. With a click of a button you can see the performance of a company, of a team and of an individual. You can also track the perfomance in every part of the pipe. You can easily and fasten than ever see what is going well and what elements need improvement

SURVEY RESULT: New client acquisition easiest to automate

The reason I voted for More new opportunities - new logo/client is because that is the element that is typically easiest to automate and replasce by software, so that is where technology can be the biggest enabler.

Although typically not automated, analytical solutions that look at pipeline data can help identify gaps to drive individual behavior change that improves the speed and probability of deals closing. I've looked at InsightSquared which integrates with salesforce as well as salesforce's own analytics.

Team alignment in complex sales

More use of collaboration tools like Slack, BaseCamp etc. as deals are complex and need to typically keep broad cross functional teams in sync.

THEME #5

Summary and Conclusion

THEME SUMMARY

Overall learnings

  • Learnings
  • Thank you

Overall learnings

Technology remains an enabler, the core of selling remains human to human interaction Training and standardization remain key to a succesfull sales organization

Thank you

Technology remains an enabler, the core of selling remains human to human interaction Training and standardization remain key to a succesfull sales organization