Yesterday, sustainable competitive product advantage lived happily alongside annual strategic planning, static customer needs and all the legacy sales enablement solutions designed for this same world. In today's market, your value is shifting constantly as is that of your competitors. Ditto for the needs of your customer. What Strategic Account Managers need is specific, customized and actionable data that helps them compete at every stage of the new buy/sell cycle with technology that houses the data all in one place.Read More
B2B Street Fighting Blog
Your days of annual planning, fixed value, and customer needs are gone. Now selling happens at the speed of change and we at 5600blue have developed a system for managing that effectively.
- American Management Association reports that 90 percent of what sales gets from marketing is irrelevant and not being used.
- Customer Relationship Management (CRM) promised to make sales more competitive but didn't. Seventy-four percent of organizations report low CRM adoption and find it's really a management reporting and pipeline management tool.
- Harvard Business Review and Forbes report that legacy sales training has not shifted since the 1970's, and CSO Insights reports that 70 percent of sales training is gone 30 days after delivery.
Continuing on the theme of Deal Coaching from my previous post, one of the key responsibilities of a manager should be to actively coach his or her team on their respective important deals. To be effective, coaching needs to done on a regular basis. Deal Coaching accelerates preparedness for the business negotiation and we know how important it is to be fully prepared to negotiate. As always discussed in our Strategic Negotiation workshops, the best time to start planning for the negotiation – is as early in the lifecycle of the deal as possible, when the focus is on sharing and validating information.Read More
One of the key responsibilities of a manager should be to actively coach his or her team on important deals, on a regular basis. Deal coaching starts with an assessment of knowledge and position in the deal in order to build the insight required to negotiate a deal that both sides would be willing to accept. This assessment needs to highlight what is known and what is not known about the deal, and should help to formulate the questions to be asked to uncover the information that is still needed.Read More
We all know deal coaching is important and we all know it doesn't happen (at least to the degree it needs to). This is another subject we've talked about for years and is now time to fix. We have a compelling reason. CSO Insights reports that the odds at vegas craps tables are better than average forecast accuracy (less than 50%). What if I told you win rates for forecasted deals could increase by 19.6% without making any significant investments? Well, it can be done and I have one word for you, COACHING!Read More
I know, I know… the sales / marketing disconnect has been talked and written about for years. The problem now is that we need to fix it. With the rapid market shifts in competitive advantage and strategy, the new oil for salespeople is knowledge. Marketing (and to a degree, product management) has been unfairly tasked with providing this knowledge to sales. I say unfairly tasked because the role of marketing and the agencies that support them is not the granular level of knowledge, in real time, that sales needs to compete and win. Their role is higher level branding and perhaps lead generation.Read More
One of my partners, Dave Knopfler, is fond of saying "CRM is a tax on salespeople." Really, who likes taxes? I think he's absolutely right. Technology was supposed to help salespeople compete, however, it never fulfilled that promise which is why 74% of organizations report low adoption. For sure it's added some value for management in terms of pipeline management and forecasting (even though average forecast accuracy is still below 50% and the odds at a Vegas craps table are better).Read More
Ask salespeople why they win and they say "relationship" and why they lose, they say "price." Our win/loss practice leader Hugh MacDonald has executed over 20 billion dollars in win/loss reviews over 12 years and points to a different reason; "Salespeople win when they show customers how they meet their needs at higher confidence and lower risk than alternatives." In fact, we believe this is the very definition of business value; how you meet customer need incrementally better than an alternative.
Think! named to Inc. list of
America's fastest growing private companies
America's fastest growing private companies