digital sales coverage, joe
Post on 17-Oct-2014
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Your buyers have changed how and when they want to engage with your Sales Team and now wait until their buying decision is 2/3 made before they engage. When they do engage, 70% of the time your Sales Reps are not properly prepared for the conversation and only 7% will earn a second conversation with your customer. Meanwhile, sales team productivity is falling off the cliff as reps continue to use traditional engagement methods with prospects and customers, customers who simply don’t want to spend their time with sales. The future of sales productivity lies in combining digital customer engagement with analytics, enabling sales teams to target, prepare, and engage far more effectively.TRANSCRIPT
©2014 MarketBridge Corp.– 3 –
“57% of a typical purchase decision is made before a customer even talks to a supplier.”
CEB
“67% of the buyer’s journey is now done digitally”
Sirius Decisions
“B2B buyers complain that only 29% of sales reps are well prepared to engaged
with them” IDC
MARKET RESEARC
H
“76% of B2B customers prefer to receive content unique to their stage in the buying process”
Pardot/SFDC
©2014 MarketBridge Corp.– 4 –
How Do You Sell to Buyers in the Digital Age?
TraditionalMarketing Spend(media buy, direct mail, e-mail, teleprospecting, events)
TraditionalSales Spend(field sales, inside sales, resellers, agents, retail, e-commerce)
“Old School” engagement is declining. Prospects… Take fewer sales meetings Attend fewer events Don’t answer telesales calls Block emails
“New School” engagement allows for self-education Search Social Media On-line media 3rd party sites Content-rich vendor sites Authentic online communities
DigitalEngagement• Search, mobile, social
media• Content marketing, digital
communities• Sales enablement
©2014 MarketBridge Corp.– 5 –
“The State of the Union” for Sales
1 The Bridge Group; 2 National Sales Executive Association
❶ Goals Up, Headcount Down
• Corporate mandates prevent the old formula of More Headcount = More Revenue
• Even less expensive sales channels like Inside Sales need to prove value more than ever before
❷ Increasingly Inefficient “Talk Time”
• Required sales call volume has doubled to make contact with a targeted prospect
• For Inside Sales…1,000 outbound calls generates only 32 real leads1
❸ Ignored Accounts = Ignored Revenue Opportunity
• 48% of sellers never follow up after first touch2
• Disqualified leads (“Not Ready to Buy”, “Insufficient Funds”, “Insufficient Authority” ) are too expensive and too consuming to nurture
• Yet, these leads represent too much revenue potential to be left untouched by sales
©2012 MarketBridge Corp.– 6 –
The New Revenue Equation:Digital Engagement + Data Analytics = Sales Productivity
CUSTOMER PROFILE & DATABASE
Richer Customer DataConnected Marketing & Sales “Engine”
Social/Mobile↓
Direct Marketing↓
Lead Management↓
Sales Management↓
Loyalty & Retention Deeper, Predictive Customer Data &
“Dashboards”
Smarter Marketing & Sales
©2014 MarketBridge Corp.– 7 –
Lifting Sales Productivity Through Digital Engagement and Data Analytics
STEP 1Prioritize SalesCall Patterns
STEP 2Digital Customer
Engagement
•Analytics driven•Sales-ready•Likelihood to convert
• “Not ready to buy” prospects
• Low cost coverage• Systematic lead
qualification and scoring
STEP 3Feed Sales
Quality Leads
• Trigger-based• Fed into SFDC• History of digital
engagement
©2012 MarketBridge Corp.– 8 –
Benefits of Digital + Data Programs
Increased Revenues and Customer Lifetime Value
Expanded Customer Reach and Response
Reduced Cost-to-Sell
Deeper Customer Insight
Improved Customer Experience
©2014 MarketBridge Corp.– 9 –
The Economic Potential
For every 100 inside reps…
$1.4M+ in potential labor savings
60%+ increase in per rep quality talk time
17,600 more quality conversation hours
25% increase in rep sales productivity
20% lower cost-to-sell
Lower cost per conversation by $5
Up to 20-25% lift in overall sales production
2.5X more touches of nurtured prospects at 81% lower cost
©2012 MarketBridge Corp.– 10 –
.
The Prescriptive Path
RevenueEnginesTM for Sales
STEP 2
TargetHighest Value
Customer Interactions
through Analytics
STEP 1
Quantify the Business Case
& Build the Launch Plan
STEP 3
Launch Digital Engagement Programs to Engage Early
Stage Prospects
STEP 4
DeploySMART™
Analytics to Continually Feed
Reps the Best Prospects
STEP 5
Engage Prospects in aContent-Rich
Community and Build Data Asset
©2012 MarketBridge Corp.– 11 –
Step 2 – Utilizing Data to Drive Productivity
Public Profile
P1 P2 P3 P4 P5
Customer Personas & Predictive Analytics
Search EmailWeb
ContentInsideSales
FieldSales
Custom Content
Digital Footprints
TransactionHistory
©2012 MarketBridge Corp.– 12 –
Step 2 - Driving Revenues w/ Predictive Analytics
On-demand social media, CRM, email collaboration at the individual or customer
level …
…delivered on Sales desktop
Monthly/weekly up-to-date profile of customer/prospect
cohorts social media usage and demographics
?
ExistingCustomers
New Prospects
Target Industry, Title, Geo, etc.
Individual Buyer Profile
Prospect Profiling SMART Customer Profiling
On-going opportunity scoring and segmentation to predict high propensity, high value, and
timing of target buyersHigh Value Prospects
Ready-to-Buy Customers
TargetedCross-Sell
SMART Predictive Analytics
©2014 MarketBridge Corp.– 18 –
The Digital + Data Customer Funnel
Digital and Data Funnel
Campaigns
Prospecting
Research
First Contact
Relationship
Predictability
Analytics
Targeted Buyer Personas
Leads Lists By Persona
Score & Enrich Opportunities
Social Selling / Warm Intros
Updates CRM, Full Relationship
More Accurate Pipeline Value
Analyze & Group Customers
©2013 MarketBridge Corp.– 19 –
“Digital Sales Coverage” Example
•Digitally recruited 660,000 not-ready-to-buy prospects
•$5-$6 total cost per acquisition
•Engagement through online community and social media…not field/inside sales
•Buyer persona-based content marketing
•Ongoing conversion campaigns to Sales•New and existing clients purchase at a 3X higher conversion rate
•Omni-channel analytics and program dashboards
•Performance reported weekly
• Field Agents• Online Ads• Social Media
• Direct Mail• Viral Marketing• Public Relations
INTEGRATED PROGRAM• Inside Sales• Live Events• Co-Promotions
MEASURE
CONVERT
ENGAGE
REACH
From Field Sales only….to Digital Nurture + Field Sales
©2014 MarketBridge Corp.– 20 –
Offer:
What’s The Economic Potential for Your Business?
For your sales force… ?
Potential labor savings
Increase in rep time selling
Increase of quality interactions
Growth in rep sales productivity
Decrease in cost-to-sell
Cost per interaction savings
Lift in overall sales production
ROI CalculatorInputs:
1. Average Deal Size
2. Rep Selling Time
3. Conversion Rates
4. Sales Rep Cost
5. Sales Headcount
6. Calls per Week
Provide 6 Metrics and MarketBridge Will Deliver a Digital Sales Coverage ROI Estimate
©2014 MarketBridge Corp.– 21 –
Improve Sales Productivity & Revenue Performance with Digital and Data
Joe Bisagna Senior Director of Client Development [email protected](240) 752-1896
market-bridge.com
MarketBridge delivers digital customer
engagement and analytics solutions to improve the Sales productivity and Marketing ROI of the Fortune 1000.