Sales 2.0 Methodologies

sales 2.0 business model and sales 2.0 incorporates customer-driven processes and sap crm sales 2.0 mobile application
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Published Date:25-10-2017
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04_486412-ch01.qxp 2/5/09 8:45 PM Page 3 Part I Why Is Sales 2.0 Important to Your Entire Organization? In This Part  Observing seismic shifts from traditional Sales and Marketing  Understanding new roles for social networking  Embracing new efficiencies of Sales 2.0 elcome to Sales 2.0, where sales and marketing Wprofessionals meet the world of Web 2.0 technologies. Sales 2.0 takes its cue from e-commerce Web sites like Amazon.com, where there’s no difference between Sales and Marketing; the focus is on a seamless online buying experience for the customer from browsing for a selection through “checkout.” The motto of Sales 2.0 is simple: Everyone is in Sales, so customers can buy quickly and easily.04_486412-ch01.qxp 2/5/09 8:45 PM Page 4 4 According to noted sales expert and Selling Power publisher, Gerhard Gschwandtner, the importance of Sales 2.0 for the entire enterprise can’t be understated: Sales 2.0 brings together customer-focused methodologies and productivity-enhancing technologies that transform selling from an art to a science. Regardless of economic conditions, Sales 2.0 has become a business imperative, a necessary step to keep pace with the knowledge and experience of today’s savvy cus- tomers and prospects. Customers have become more informed as they’ve become more adept at using the Web to mine information, gathering data from corpo- rate Web sites, and seeking out comparisons using search engines. The speed with which you connect to potential customers is critical to closing a sale; and, of course, spending less time per sale enhances the likeli- hood of increasing the number of sales you make. “Striking while the iron is hot” has never been more important. To function in a Sales 2.0 world, organiza- tions need to become more adept at using the Web to quickly identify and connect with customers. Sales 2.0 levels the playing field for large and small sales organizations seeking to provide today’s smarter customers with better service. Understanding the Inefficiencies of Sales 1.0 The previous generation of customer acquisition is, for many organizations, still the current way many sales04_486412-ch01.qxp 2/5/09 8:45 PM Page 5 5 and marketing professionals interact with customers; we refer to this method as Sales 1.0. Outbound direct mail campaigns are sent in bulk to Fortune 1000 customers without really knowing how to track their effectiveness. Marketing teams hand out glossy reports where analysts have written glowing comments about your product. Your sales team con- sists of the quintessential “elephant hunters” who play a lot of golf with senior executive clients, wining and dining clients with the classic three-martini lunch, and waiting for your telesales or telemarketing team to toss over some leads. Sales managers leave sales reps alone as long as the rep gives the manager a forecast once in a while and brings in those enterprise-sized elephants. Your mar- keting and sales teams are doing their own things — the former is sending out promotional campaigns, the latter continues to call and qualify leads. Marketing claims Sales isn’t doing anything with the bountiful amount of demand they’ve generated, while Sales complains that the leads brought in are worthless. Sound familiar? What is Sales 2.0 and How Is It Evolving? The advancements in consumer Web-based technolo- gies such as Google and Wikipedia have shaken up the old balance of power, and Sales 2.0 takes advantage of these Web-based tools to encourage Sales and Marketing to collaborate to woo customers and close sales. 04_486412-ch01.qxp 2/5/09 8:45 PM Page 6 6 Web 2.0 sites have changed the way that consumers use the Internet by adding  Rich, interactive, user-friendly interfaces  Application delivery exclusively via browser  Site data that is user-owned and user-controlled  Social networks with increased user influence and participation  Shopping carts that seamlessly take customers through the sale These Web sites also shape people’s expectations with info about business products and services. Buyers are now more informed and can learn about your product without ever speaking to an associate. Sellers now have less control over the process of revealing product infor- mation, especially when they are often unaware of what data these anonymous visitors are finding. Customers also expect the Web to aid, and shorten, their product search, as the advent of e-commerce has trained them to expect one-stop shopping and instant gratification. As your customers’ buying behaviors and expectations evolve in this Web 2.0 world, so must your sales and marketing processes adapt to benefit from these changes. This evolution is critical for any business, whether it sells on-demand technology, traditional soft- ware, or a large-scale physical product. By empowering Sales and Marketing to work as a team to acquire customers, optimize the sales cycle, and better analyze and track your marketing return on investment (ROI), you transform your entire organization into the world of Sales 2.0, and improve both your top line and bottom line results.04_486412-ch01.qxp 2/12/09 6:01 PM Page 7 7 Taking advantage of social networking Marketing and selling, regardless of your type of busi- ness, has always been about relationship-building and networking. Informal exchanges of information are often more valuable than messages you’re getting from professional, official channels. Sales 2.0 builds on this by fusing the salesperson’s innate tendency to exchange and position information with his or her ability to adopt the Web 2.0 technologies that make sales more efficient. Sales 2.0 also enables marketers to target vast numbers of potentially inter- ested customers in a personalized and relevant way. Sales 2.0 removes the overhead and inefficiencies that previously kept you from finding the right prospect with whom to share valuable information. With social networking, you can make connections with peers, clients, and partners in a network to identify prospects who truly need your product and want to engage with you. And you can do it all more efficiently and in envi- ronments that are structured to reward and reinforce reciprocation. For example, LinkedIn enables Sales and Marketing to identify potential prospects through their network of friends and co-workers. This type of net- work makes communication with the prospect more personal and relevant as people who know the prospect confirm (or not) the prospect’s potential interests. Companies like Jigsaw work differently by enabling Sales and Marketing to trade business contacts with members of their online community.04_486412-ch01.qxp 2/5/09 8:45 PM Page 8 8 Both Sales and Marketing are starting to use services like Twitter to quickly and easily broadcast about their latest success, product feature or upcoming event. This new ability to reach out and make an immediate connection also affects how you network with complex enterprises. You can now more easily find someone within a department, and provide that person with a specific solution. In a Sales 2.0 world, decision makers are frequently at the department level, rather than executives. Not surprisingly, more companies develop and sell solutions targeted towards departments, and their decision makers, instead of enterprises. Not only is how you sell evolving but also what you sell evolves in the world of Sales 2.0. Groundbreaking com- panies such as Cisco WebEx, salesforce.com, and Omniture that sell software as a service (SaaS) circum- vent the IT and implementation bottlenecks by provid- ing hosted solutions at a dramatically lower price point. Their services get up and running within days — a time- line virtually unheard of with most expensive enterprise applications. Leading Sales 2.0 users look for easy-to- use, low-price offerings to fully optimize the speed and flexibility that Sales 2.0 technologies can afford. Shaking hands with a new form of relationship selling Don’t get us wrong; selling is fundamentally about relationships. Of course, if a buyer is going to hand over a few million dollars to you, in-person meetings04_486412-ch01.qxp 2/5/09 8:45 PM Page 9 9 help seal that trust. But with Sales 2.0, relationship sell- ing occurs in several new media, and is more efficient, measurable, and cost-effective than ever before. Sales 2.0 raises the quality of your customer engage- ments — anytime, anywhere. If a customer or prospect is able to visit your Web site outside of business hours, you still need to know about it, and know what they were looking at. You need to create closer connections with your prospects, many of whom are anonymous, and keep them highly engaged with you. Instead of using traditional sales and marketing methodologies where customers are informed of cer- tain value propositions over a regimented series of steps, Sales 2.0 is about adapting to customer’s online buying behaviors and helping them when they need it. The new form of relationship selling isn’t about selling anymore — it’s about helping the customer buy. That means Sales and Marketing need to be aligned and col- laborate as effectively as a starting basketball team. When Sales and Marketing are aligned, prospects move seamlessly from hearing about you in an online article to browsing your Web site or joining a Webinar to edu- cate themselves to engaging with Sales when they are ready to learn more — and hopefully take the next step toward a purchase. Internally, when Sales and Marketing are aligned, they function like a professional NBA team, where players pass the ball (the Lead) back and forth, dribble down the court (qualifying and following up) until they make the basket (deal closed), and if they miss the basket, Marketing gets the rebound, and the process starts again (remarketing to prospects). 04_486412-ch01.qxp 2/5/09 8:45 PM Page 10 10 Sales 2.0 affects your entire organization In a Sales 2.0 world, everyone is in Sales, striving to pro- vide customers with a buying experience that is quick, easy, and available whenever the customer wants to buy. The fast-paced, Web-based buying experience requires a strong collaborative effort between Sales and Marketing to ensure that the customers who express interest are quickly put in touch with the right team member to answer questions, provide information, and eventually close the sale. Selling Faster and Smarter with Sales 2.0 If you’re a sales rep, especially one who gets on planes and travels, one of the things you receive from Marketing is leads into your sales funnel. From this stack of leads, you make your weekly appointments to visit your prospects. How often do you arrive at your meeting and within moments know that the lead really isn’t qualified? Sure, they may have met some factual criteria to be considered a qualified lead, but maybe they don’t have the budget, a champion, or specific goals spelled out yet. Worse, maybe they stump you with questions that could have been answered by a person back in your home office. The net result is a wasted trip for you. 04_486412-ch01.qxp 2/5/09 8:45 PM Page 11 11 Selling face-to-face without flying Sales 2.0 reduces the annoyance and inefficiency of these scenarios. More streamlined processes — and the technologies to carry out these smarter approaches — can directly save you time and money. Less time spent traveling means lowered travel expenses and more time selling. More time selling means you get to focus on raising your average price, while the number of accounts you touch increases, too. For example, Web conferencing stands out as an early Sales 2.0 technology that has changed the way people sell by enabling relationship selling through the Web. Increasing selling speed alone isn’t enough. You need better visibility into your customers’ actions and their intentions, whether or not you visit with them face-to-face. Measuring your selling smarts Sales 2.0 is about making anything and everything in the sales and marketing lifecycle measurable, so that you can use that information and the resulting analysis to help your customer make better buying decisions. With Sales 2.0 technologies, frequently Sales and Marketing use the same tools but with different pur- poses and focuses. Web analytics, traditionally used for marketing, are now important to sales teams as well.04_486412-ch01.qxp 2/12/09 6:01 PM Page 12 12 Josh James, CEO and co-founder of Omniture, describes why: Your Web site is the gateway to your business. In a Sales 2.0 environment, Web analytics provide critical information to optimize the customer’s Web site experience and deliver invaluable individual customer insight so Sales and Marketing can better tailor their communications. Marketing uses Web conferencing for Webinars to attract and educate hundreds of prospects. Sales uses Web conferencing for personalized sales meetings and demos. E-mail Marketing has become a go-to tool for both Sales and Marketing. Genius.com lets marketers send out large, yet personal- ized, e-mail campaigns on behalf of an entire sales force, while directing measurable results (an opened e- mail or a Web site visit) to the appropriate sales rep. In this scenario Marketing is essentially playing match- maker between an interested prospect and his assigned sales rep, hopefully fostering a long and happy mar- riage. Genius.com lets sales reps instantly track which prospects have opened your e-mail and clicked through to your Web site (see Figure 1-1). With Genius, Sales gets an instant alert and a Tivo-like replay of your prospect’s site visit for instant info about what they’re interested in. You can immediately contact Prospect X to ask whether he or she has any additional questions. You’ve already reduced the sales cycle by not having to cover redundant information. Your conversations not only occur more often, but become more personalized and smarter. 04_486412-ch01.qxp 2/5/09 8:45 PM Page 13 13 Figure 1-1: Following up on leads with Genius.com. Sales 2.0 merges Sales and Marketing into one team to target buyers more effectively and bring in a lot more business at lower cost. It helps reps hit their quota more predictably and turns your combined sales and marketing teams into a competitive advantage by shak- ing up age-old concepts of selling. Take an honest look at the chart in Figure 1-2 and see where you stand and how well your approach is working for you.04_486412-ch01.qxp 2/5/09 8:45 PM Page 14 14 Defining Sales 2.0 Sales 1.0 Sales 2.0 Rigidly following a sales process Helping prospects buy Controlling what the buyer knows Buyers educate themselves before they come to you Marketing vs. Sales Integrated and interdependent Marketing and Sales Selling solutions Helping customers succeed High-efficiency vs. high-touch High-efficiency AND high-touch Volume vs. relationships Relationship-driven volume Travel, meeting and schedule hassles Engaging anytime, anywhere Technology is a burden Technology makes Sales and Marketing more effective Count every activity Measure all activities that count Forecast probability Forecast predictability Pipeline volume Pipeline shape and velocity Mass marketing and prospecting Personalized and targeted communications Hoarding best (and worst) practices Making best practices pervasive Figure 1-2: Understanding how Sales 2.0 transforms your sales and marketing approach.05_486412-ch02.qxp 2/5/09 8:45 PM Page 15 Part II Top Sales 2.0 Technologies In This Part  Following the Sales 2.0 funnel model  Bringing in new customers  Getting to know your prospects  Tracking customer interactions  Closing deals online and keeping customers happy o sell and market effectively with Sales 2.0, you Tneed to modernize with essential Sales 2.0 applica- tions. The technologies described in this part help transform your Web site and online presence from static brochureware (for visitors who come and go anonymously) to a highly interactive store, where Marketing directs potential customers to the store and sales people greet customers and offer them highly personalized service based on their specific needs. This part presents the top technologies to turn your Web site into a Sales 2.0 sales and marketing machine for every step of the sales cycle and lead lifecycle.05_486412-ch02.qxp 2/12/09 6:02 PM Page 16 16 Bear in mind that technology works best when you have clear, shared goals between Sales and Marketing; for more information, see Part III. The Sales 2.0 Funnel The Sales 2.0 Funnel (see Figure 2-1) updates tradi- tional sales and marketing cycles by identifying each stage of the Sales 2.0 process and providing you with a sampling of new Web-based technologies that enable you to approach each step in a faster, more cost- effective, and measurable way. Named Visitors Anonymous Visitors Jigsaw, LinkedIn, Google, Yahoo, Attract Hoovers, Omniture Marketing Reachforce Process Nurture Named Prospects Genius.com, Eloqua Interact Qualify Named Prospects Genius.com, Cisco WebEx, Marketing InsideView 2.0 salesforce.com, Track/Manage Sales Oracle On Demand, NetSuite, SugarCRM Close Remarket Close EchoSign Conga Merge Xactly Sales Process Upsell Lithium Loyalty & Helpstream Cross sell Figure 2-1: The Sales 2.0 Funnel05_486412-ch02.qxp 2/5/09 8:45 PM Page 17 17 As Marketing drives the demand that brings leads through the top of the funnel, Sales defines the processes for managing prospects to a close and beyond. Marketing guides prospects into your Web site with various initia- tives called campaigns. As the prospect browses your site, Sales then interacts with prospects to understand their buying needs and close them faster with better service. While the sales cycle has a defined beginning, middle, and end, the lead life cycle, in contrast, is contin- uous as you market and then remarket depending on cus- tomer needs. Because the lead life cycle doesn’t end, Sales passes the leads back to Marketing as appropriate. The lines between these two departments and their processes blur at multiple customer touchpoints. The prospect will dynamically move up and down the funnel according to the level of their buying interest. Sales 2.0 helps break down the walls between Sales and Marketing by defining a new set of strategic processes where incentives and goals are aligned to deliver smarter, measurable results. No longer do you need to contend with marketers executing campaigns that Sales doesn’t know about or having leads tossed over the fence that Sales doesn’t believe are qualified. Attracting Customers: Marketing’s Job in Sales 2.0 When it comes to acquiring customers — you have to get them in the door, and that’s Marketing’s job. Attracting customers occurs along two branches: seeking out named individuals that you think are the best fit and educating anonymous visitors about your product.05_486412-ch02.qxp 2/12/09 6:02 PM Page 18 18 Attracting named visitors A great source of new business is your current customer base. Effectively maintaining and cultivating your exist- ing customers is an enormous Sales 2.0 opportunity for any company. You must have an excellent Customer Re- lationship Management (CRM) solution to manage those relationships, such as salesforce.com. Just as important, you need a marketing system like Eloqua or Genius.com that lets you target customers at appropriate times and track customer interest. Best of all, you can do this in a highly automated way, ensuring that prospect cultiva- tion takes place on a regular, predictable schedule. See Figure 2.2 for a preview. In the Sales 2.0 world, prospecting for new leads takes a new spin. Historically, data about a company, its key decision makers, and their contact information were carefully mined and cleansed by large giants such as Hoovers. Access to this information came with a high price tag and wasn’t always accurate. Plus, you have your own Rolodex that you’ve built up over the years, but how up-to-date and organized do you think those business cards are? Sales 2.0 provides this type of data more transparently, and at little or no cost, to members of various social networking communities. Incentives within these com- munities promote the maintenance of accurate informa- tion and outreach to new participants. Examples include Jigsaw (www.jigsaw.com), iProfile (www. iprofile.org), LinkedIn(www.linkedin.com), and Reachforce (www.reachforce.com) . Not only can you find new information, you can confirm whether the data you currently have is correct. So now you can sell more to your existing contacts as well as to new ones.05_486412-ch02.qxp 2/12/09 6:02 PM Page 19 19 Figure 2-2: Genius.com easily automates marketing campaigns with drag and drop campaign creation. For example, at Jigsaw, members access a business directory of contacts for free if they contribute or update business contacts of their own. Even those with a limited network can still afford to purchase access to contacts. The self-correcting nature of Jigsaw ensures accuracy of the data, while its reciprocal nature spurs data growth. “Jigsaw takes a new approach to something that’s been done for ages,” reflects Jim Fowler, CEO and founder of Jigsaw. “Sales and marketing people have always ex- changed information. Our platform creates huge effi- ciency gains for reps by drastically reducing the time-consuming work of finding, accessing, and main- taining their list of business contacts.” Read about the success companies are having with Sales 2.0 tools in the nearby sidebar, “Case Study: ADX Employs Sales 2.0 to Generate Leads During a New Product Launch.”05_486412-ch02.qxp 2/5/09 8:45 PM Page 20 20 Attracting anonymous visitors So how do you get new, unknown prospects to you? Most companies don’t have the luxury of an instantly- recognized brand presence that automatically drives information seekers to their Web sites. Plus every com- pany has competitors clamoring for mindshare. Both of these factors are more noticeable than ever when infor- mation seekers go to a search engine such as Google or Yahoo. The difference between a first-page listing within a search result and a second-page listing can translate into an order of a magnitude of visitors that either click through or never hear of your site. If your customers can’t find you, they can’t buy from you. Yet, until recently keywords attracted only marketing’s interest. With Sales 2.0, Sales has become interested in using keyword advertising to help drive qualified leads to the Web site and then into their pipeline. Together Sales and Marketing can identify the keywords that are viewed as most relevant by prospects to bring in high- quality leads. “Businesses need to abide by three core tenets of search engine marketing before anything else,” advises Barbara Coll, CEO of WebMama.com Inc. Barbara suggests the following:  Decide what keywords to buy.  Design your Web site to be search engine-friendly.  Use Web analytics to track conversions.05_486412-ch02.qxp 2/5/09 8:45 PM Page 21 21 Case Study: ADX Employs Sales 2.0 to Generate Leads During a New Product Launch Background and Objective: ADX provides electronic com- merce and supply chain integration services. ADX expanded their solution suite with a new product, CommerceMail, and wanted to quickly and efficiently ramp up their lead genera- tion and qualification program to support their product launch. Solution: Using Jigsaw, an online business directory of 10 mil- lion business contacts, ADX generated a list of potential prospects to contact. Then, using Genius.com, which provides marketing automation and lead management, ADX imple- mented a multi-step e-mail campaign. ADX first sent a per- sonalized e-mail on behalf of their sales team, encouraging recipients to request a demo on the ADX Web site. The Genius Tracker instantly alerted ADX reps whenever there was online prospect activity. Recipients who didn’t fill out a form were sent follow-up e-mails at appropriate intervals. With Genius, ADX reps could also see a page-by-page replay of each prospect’s Web site visit to determine level of interest even if the prospect didn’t complete the demo request form. With Sales 2.0, ADX reps were able to identify a much higher number of opportunities than they would’ve identified using older, Sales 1.0 techniques. Result: Using Sales 2.0, ADX was able to build a pipeline of 60 qualified opportunities in 90 days.05_486412-ch02.qxp 2/5/09 8:45 PM Page 22 22 In the Sales 2.0 world, a key goal of a company’s Web site is to convert anonymous visitors to known prospects that Sales can then contact and close. Sales must truly integrate with Marketing to succeed — it’s not enough to get a lot of visitors to the Web site. Sales and Marketing need to work together to give that anony- mous visitor a name and face so that Sales can meet and greet through the Web site. A variety of Sales 2.0 tools and technologies help here. For example, by offering real-time chat on your Web site, regularly-updating landing pages, tying Web forms directly into your CRM system, and using Web confer- encing as invites to live demos, you provide the prospect with multiple ways to engage with you. In addition, Marketing can add time-sensitive promotions to key landing pages to encourage contact. And, you can use your CRM as a common repository for Marketing and Sales to share real-time customer insight and other information to put a spotlight on these high-quality leads. Yes, using these technologies requires extra effort. Yes, you and your team may already be swamped. But you need to make a conscious effort to harvest visitors from your Web site. Don’t let all these online store visi- tors browse and leave. You wouldn’t do that in a bricks- and-mortar store, would you? Create a schedule that assigns reps on a rota- tional basis to staff instant chat sessions or host regular Web conference demos promoted on Web site landing pages.

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