Archive for the ‘sales enablement’ Category

Product Launch SWAT Team

Monday, February 15th, 2010

My last blog post introduced this series focused on launching a new product or service totally online. Product Launch SWAT teams are essential whether the launch is online, offline, or a combination of the two.

If a new product or service is important enough to build a launch, give the launch the resources it needs to be successful. SWAT team members should include people from Marketing, Product Management, Sales and Service/Support. Expect that these people will be devoting significant time to the launch effort, so make sure that they aren’t encumbered with too many other deliverables in the same time frame. Assume that half of their time will be devoted to the launch for approximately three months.

It’s essential that Sales be involved in every product launch in a meaningful way. That means at least one sales person will have to split time between roles. Reduce their quota for the duration of the launch. If you don’t, they’ll be busy making their number. The launch process will suffer and the ROI of the launch will be compromised.

You’re going to be tempted to put a junior sales person on the team to minimize the revenue loss. Don’t do it. Put the sales exec who’s going to be most affected by the new product on the team. Typically that will be somebody more senior, and somebody who will whole-heartedly contribute to the success of the launch.

Bruce Seidel is a B2B sales coach with a long history of success selling software. He wrote an excellent blog post regarding formal agreements between Marketing and Sales to ensure a successful new product launch. Read it. Copy it. Keep it someplace safe where you can access it when you need it. I did.

My next post will be about using social media (your blog, Facebook, LinkedIn, Twitter) to crowdsource the features, benefits, delivery model – even the name and branding of your new product or service (and to start a whisper campaign about it).

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Why Online Product Launches are Different, Better, Cheaper

Saturday, February 13th, 2010

As it happens, I’m in the midst of strategizing and planning new product launches for two clients and a new service launch for acSellerant. I’ve done several launches over the years, but this is the first time I’m doing them exclusively online. Traditional launches keep things a secret until the big launch day, then ‘Kaboom!’, a media blitz… and it’s over. Unless it’s Apple. Then people will continue to buzz about the product for months.

Alas, you’re not Apple, and I’m not Steve Jobs. That doesn’t mean we can’t pull off highly successful product launches, though.

Due to the tools we have available today, the research phase (which is an absolute must) can be combined with test marketing and some early promotion of the product.

The problem in developing successful new products is not a shortage of ideas, but the expense of bringing a new product to market without any guarantee of success. How much better to continually seek feedback from prospects along the way, and fine tune the product so you know it’s going to be a winner.

Research, Research, Research

Social media platforms like LinkedIn and Twitter constitute mind-boggling tools for accomplishing research on the fly with built-in feedback loops, and rock bottom pricing. Five years ago you’d have to pay tens or even hundreds of thousands of dollars for the information you can get at virtually zero cost today. Here’s the process:

  1. Determine who your best target customers are. “Everybody” is not an acceptable answer. Be as specific as possible. The better you know who you’re selling to, the better you can custom fit your product, and the more persuasive your marketing messages can be.
  2. Determine how you want to go to market. Are you going to produce the product in-house or outsource the production? Will you sell the product yourself or through resellers? If you’re going the partner route, thoroughly research potential partners to determine best fit.
  3. Market Research Phase:
    a. Research market size and potential.
    b. Interview end users, resellers and sales reps (you can do this via online polls on LinkedIn and Twitter, although you should also conduct some qualitative, in-depth interviews in person or over the phone).
  4. Analysis and Development of the Marketing Plan:
    a. Competitive Analysis – review competing products and how they stack up against your proposed product. If there aren’t any closely competing products, research how else people are solving the problem. If they aren’t solving the problem and they’re not suffering any pain, pull the plug. If they are suffering, but don’t realize they have a problem, you need to add in the overhead cost required to educate them.
    b. Evaluate the product’s Strengths, Weaknesses, Opportunities and Threats (SWOT). Develop a Proof of Concept so people can understand what it is and what it does. It’s OK to use smoke and mirrors, as long as you can build the real functionality when the time comes.
    c. Develop an Online Marketing Plan that leverages the unique capabilities of the Net. Successful online launches create a series of interactions with current customers, employees, prospects, suppliers, trade media, resellers and any other appropriate audiences.
  5. Execute the Plan and Launch the Product:
    a. Develop online (easily and inexpensively edited) collateral materials.
    b. Begin placement dialogues with the first step in the preferred channel.
    c. Have enough dialogues with enough different entities to uncover any previously undiscovered objections.
    d. Review and revise the Plan as necessary with the new information.
    e. Repeat until you’re satisfied you have market acceptance.
    f. Explore relationship extensions with partners.

I’ll come out with more details in shorter blog posts over the next several days.

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The Content, Connection, Conversation, Conversion Continuum

Wednesday, January 20th, 2010

I am officially retiring acSellerant‘s tagline – “Relevant and useful information builds trust. Trust sells.” When I first came up with that slogan, I was on a mission to convince B2B companies that:

  1. traditional, interruptive advertising was no longer effective, and
  2. traditional presales activities (educating prospects about your solutions) had been replaced by Google.

Largely due to the efforts of others, like Joe Pulizzi and Newt Barrett; and to the overwhelming evidence in the market place, my prospects now understand #1 and 2 above. So what’s next?

The Content, Connection, Conversation, Conversion Continuum

We all agree that to engage prospects we need to produce and publish relevant, useful, interesting and valuable content. You can’t just put it out there anymore, though. There’s too much competition for peoples’ attention.

We need to connect the content to our prospects. That means we have to deliver it to the online places where they hang out. That might be at industry-related websites like MSPmentor, or on special interest groups within Facebook, LinkedIn and Twitter.

Once you’ve set your content at the feet of the people it was developed for, if you’ve made the content compelling enough, your prospects connect with you. You’ve piqued their interest and they want to learn more… or they want to voice their opinion. They will comment on a blog post, in your online discussion, or they’ll email you.

Conversation ensues.  When a dialogue is created between you and your prospects, ideas are exchanged. This is the time to listen carefully. It’s a golden opportunity to find out exactly what prospects want. Let them tell you. If they feel they’ve been heard, trust is built.

Once they understand that you truly have their best interest at heart, the conversation will move from online to phone, and then face to face, as the topics move from features and benefits, to pricing, and to terms and conditions. The prospect converts into a customer. You close a profitable deal without selling anything.

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The Most Important Factor in Business Success

Saturday, January 2nd, 2010

Social media guru (and my neighbor here on Florida’s Gulf coast), Bernie Borges released his business predictions for this new decade. One of those predictions is the continuing growth and strength of Marketing as a critical business success factor. Not surprisingly, I’m in agreement. Here’s an excerpt:

Marketing
The 00’ decade began the transition to the mantra “marketing is the enterprise.” In the 10’ decade, marketing will be the most important factor in business success. No offense to sales-driven companies, but marketing is the central nervous system of the enterprise in the new decade. And, the cardiovascular system is communications. The marketing strategy is now all about the experience. Customers live in a digitally connected world at home, in the car, on the bus, at work, even at their kid’s soccer games. Brands who give their customers opportunities to experience their value proposition will win loyalty. Some B2B brands that do this already include Cisco, Indium Corp. and HubSpot. The secret sauce to creating an experience is to experiment with different communications that touch people through more than one sense including sight, sound, smell, taste, touch. Yes, even B2B brands can do this.

I’m not so sure about smell, taste and touch; but it’s apparent that multimedia (graphics, images, and sounds along with short bits of text) will increasingly become the lingua franca of the web. As for Marketing’s ascendancy, I think most everybody in the business world realizes that ‘order taker’ salespeople have been disintermediated by the internet. But for complex B2B products and services, sales people are still very much needed. Their roles, though, should be upgraded and focused. ‘Beating the bushes’, ‘cold calling’, ‘hunting’… whatever you call it, is less and less effective. Marketing’s role is growing through the addition of what I call ‘sales enablement’ activities. These are primarily online pull tactics (including inbound marketing, content marketing, SEO and social media). The upside for professional B2B sales executives is that they get to focus their time and attention on building relationships and closing profitable deals.

You can read the rest of Bernie’s Predictions here.

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Why Content Strategy is So Important

Thursday, November 12th, 2009

Seth Godin said, “Content marketing is the only marketing that works for B2B.” I absolutely agree. I see proof of it all the time. One can conclude then that content is important. How content is developed, organized and disseminated is also important.

Years ago your Sales department controlled every step of a prospect’s movement through the sales cycle – from initial interest to closing the deal. Your salespeople managed the prospect’s access to information about your products and services. Marketing’s job largely consisted of renting assets owned by other entitiesInformation Structure 300x225 Why Content Strategy is So Important (advertising sales departments, PR firms with access to journalists, tradeshow organizers).

The internet has changed that forever. Fragmentation of media has created an information source explosion:

  • happy and disgruntled customers freely comment about vendors and services,
  • self-proclaimed industry experts blog about everything from features to pricing to future product releases,
  • competitors engage prospects online via the clever use of social media.

The days of controlling the conversation with customers and prospects are gone. Marketing must move from renting assets to building them. Marketers must become publishers.

Content in Context

The internet has disintermediated the middlemen. Used to be that Marketing ‘rented’ access to prospects via print advertising in trade publications. We all know that ads don’t work anymore. People have become inured. They ignore the ‘noise’.

Or Marketing rented access to prospects via articles placed in those same trade pubs. This can still work, but readership has fallen off a cliff.

Trade shows still work, but they’re expensive, and they’re time-consuming. B2B SMBs are selective about exhibiting at trade shows, and only do one or two a year.

The internet has given us direct access to prospects. We don’t have to go through those middlemen anymore. But there’s a downside. Those middlemen gave us context.

When buying a print ad, Marketing made sure that the readers of that trade pub were people in a position to buy what they were selling; and made sure that the ‘content’ of that ad spoke in terms that made sense to that target audience.

When a PR agency placed an article, the agency made sure that the placement was appropriate and that the content was relevant. Then a professional journalist wrote the article in a way that was (usually) interesting to the target audience.

In the trade show scenario, organizers demand that exhibitors meet certain criteria… that they’re focused on a niche that’s congruent with the target audience. Then they book speakers and seminars designed to attract that target audience. And they promote the show to ensure the targets attend.

Content Strategy Supplies Context

Content strategy plans for the creation, publication, and governance of relevant and useful content across a number of different vehicles (blogs, case studies, email campaigns, LinkedIn, online PR, podcasts, syndicated articles, Twitter, videos, webinars, websites, white papers, etc.).

Gaining the interest of customers and prospects online is all about being willing to put your own agenda aside. Put yourself in their shoes and work hard to produce information that prospects find relevant and useful. If you can make it entertaining too – so much the better. Companies need not only the will, talent and skill to produce great content; they need the tools, processes and infrastructure. Those went away when we lost the middlemen.

The people who develop online content discuss user experience, information architecture, content management systems, metadata, visual design, user research and other disciplines that facilitate users’ abilities to find and consume content. What’s been largely ignored is the content development process.

Content Development Process

Content strategy is important. It provides the context for the content that forms the heart and soul of every successful B2B marketing effort. Content strategy deserves the focus of either someone internal to the organization, or by an external agency. A content strategist executes:

  • Channel Distribution Strategy – defining how and where content will be made available to prospects. (e.g. blogs, email marketing, LinkedIn, newsletters, online article publishing, podcasts, posted videos, Twitter, website).
  • Content Management Strategy – defining the technologies needed to capture, store, deliver, and preserve an organization’s content. Publishing infrastructures, content management systems and workflows are key considerations.

  • Editorial Strategy – defining the guidelines by which all online content is governed: values, voice, tone, legal and regulatory concerns, user-generated content, and so on.

  • Keyword Research – using search term suggestion tools (on an ongoing basis) to determine which keywords and phrases people are using to find what you’re selling, and embedding those keywords in your content.
  • Link Building – an important component for superior search engine ranking. Google bestows high ranking on those websites that have been linked to from sites it considers to be “of high quality and relevance”.

  • Search Engine Optimization - editing and organizing the content on a page or across a website to increase its relevance and search engine ranking for specific keyphrases.
  • Stewardship of Company Positioning - ensuring all messages are congruent with the established brand, value propositions, etc. and adapting them as markets or competitive conditions change.

Businesses must commit to treating their marketing content as a valuable asset worthy of strategic planning. Otherwise content marketing efforts are haphazard and less effective than they could be. Anything worth doing is worth doing well. Content strategy is worth doing well.

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35,000 Feet to Street Level w/ Sales Enablement

Sunday, October 25th, 2009

A week ago I attended an event put on by one of my clients. A ‘Global VP’ from a multinational IT mega corporation was flown in to speak to a room full of executive clients and prospects. The topic was Business Intelligence, so I was looking forward to it. I was disappointed. It was overly long and complex.

It reminded me about the disconnect between large vendor Marketing and the sales messaging needed by SMB MSPs, SIs and VARs. That VP had a slick PowerPoint presentation developed by a corporate Marketing department. It leveraged information purchased from major IT research vendors – Forrester, Gartner, IDC, etc. It was a good starting point, but almost worthless to sales people on the ground trying to sell specific solutions.

Sales Enablement is the process of arming an organization’s salespeople with information that will help to close profitable deals. Sales Enablement delivers the most relevant information for a specific sales situation.

Sales people are what I call “just in time learners”. They are extremely busy. They are action-oriented. They have little patience for sitting, reading and digesting reams of information so they can later distill and communicate the most significant message for a particular sales situation. Salespeople learn what they need to know when they need to know it. Sales Enablement should bridge the gap between the 35,000 foot PowerPoint and the, “I’m sitting across the table from a decision maker who is willing to take the next step… if I can show her that we are capable of solving her specific business problem.”

The specificity need not be deeply detailed, but it should address the particular problem… not describe issues that are universal across an industry. It should bridge Sales and Marketing departments. It should augment market research and global messaging with:

  • Competitive Intelligence – not at the vendor level, but of local MSPs, SIs and VARs
  • Tribal knowledge – specific to the client industry in the local geography
  • Product knowledge from the minds of the technologists who have developed/integrated similar solutions, and
  • Answers to questions and objections encountered by salespeople who have sold similar solutions in that market.Sales Guy with Projector1 196x300 35,000 Feet to Street Level w/ Sales Enablement

Here are three common mistakes salespeople make when attempting to bridge the gaps described above:

Mistake #1: Giving the Feature/Benefit World Tour

These tours often happen during demos, presentations, proposals, and in printed and online collateral. They’re an attempt to show prospects everything that your product/service/solution can deliver. Don’t give the ‘List of the Top Ten Features and Benefits’. Your website should have that information. When in front of a customer you want to pick the two or three features and benefits that are meaningful to them given their situation.

A savvy sales enablement provider will help the salesperson pick the three most relevant features and benefits, and will translate them into higher-order value statements. As an example, the three most relevant value statements for an Electronic Records Management solution might be:

  1. A 25% increase in productivity due to improved access to information for daily tasks.
  2. An average 40% savings on paper storage costs.
  3. A 99% reduction in fines and penalties due to regulatory non-compliance.

If you know that all three of those are primary concerns with that prospect, you’ve just reduced your sales cycle significantly.

Mistake #2: Let Me Tell You All About My Baby

This happens most often when an engineer is brought along on a sales call. They are (usually justifiably) proud of their baby. They built it, and they love to talk about it… what it does, how it does it, why it does it this way, and so forth ad nauseum. There’s a time and a place for this conversation – when your techie is talking to their techie. When that occurs, it’s usually quite late in the buying process and the business people have already decided to go ahead.

Don’t throw the baby out with the bath water, though. Summarize the solution effectively (and briefly) using graphics, then provide a link or a white paper which details the technical information. Your decision maker will be more at ease if he can give those details to his trusted technical advisor.

Mistake #3: No Proof Points… Just Trust Me

This is a situation that’s as old as B2B technology sales itself. Salespeople understand the effectiveness of case studies and testimonials. They constantly ask Marketing for them; but they never want to take the time to elicit them from clients. Your salespeople, and your technicians and customer service reps too, should be alert for positive statements from clients. When clients make these statements, the automatic response should be, “Thank you. We’d love to be able to use that in our promotional materials. Can I have someone contact you about it?” Then, whoever is handling your Sales Enablement should quickly follow up with a written testimonial, or if appropriate, an outline for a case study, for their approval. Don’t wait for the client to write it. It won’t happen.

Also be alert for situations where your solution has made a hero out of someone in the client organization. Those people will be happy to sit down with your Sales Enabler and tell them all about the problem that was solved, and how it came about, and the results achieved. Case studies with a client hero or heroine resonate with prospects. After all, who doesn’t want to be seen as a hero by their company?

Consider incenting everyone who has client contact to submit potential testimonials and case studies.

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