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B2B Revenue Growth for Manufacturers - Reengineering the traditional marketing & sales roles to match today's buying process.
Transcript of B2B Revenue Growth for Manufacturers - Reengineering the traditional marketing & sales roles to match today's buying process.
traditional funnel with
created some leads
provided some support tools to sales
it wasn't really "a" funnel
there was really just a succession of silos
- marketing dumped leads to sales
- sales fed orders to finance
- finance reported to C-Suite
buyers you know...
and others you don't
does your marketing filter out bad fits preemptively?
are prospects aware of you?
do you help prospects understand their business challenges?
is your ideal (profitable) prospect clearly defined?
are you engaged with target accounts even when there's no "deal"?
how do you manage the other 97% of prospects while sales works the active 3%?
LinkedIn research found that 74% of B2B buyers ultimately select the vendor that 1st provided value - is that you?
buying behaviors now trump sales process
internal functions are for your purposes and will interfere with buyers'
there's actually a single "buyers journey" funnel
"leads" are often not ready to be sold
transitions must facilitate buyer needs, not dictate what's available to help them learn
but leads must be sourced much earlier
sales used to "eat what they killed" and created many of their own leads
but early buying behaviors are now clandestine
marketing now must deliver vast majority of leads
tectonic shifts but subtle symptoms
what's changed while CEOs were focused elsewhere
relied on marketing for branding
created many of their own leads
focused on active projects
created a few leads
sold active projects
it fells different....but not radically different. what are the signs you may observe that confirm what's happening?
more 'no decisions'
more 'opportunities to quote' without participation in discussion
buyers call and tell you what they want
fewer leads / lower quality leads
sales reps creating few deals
Sales reps must now be thought leaders with their own brand and industry recognition through writing, speaking and social selling
Sales channel creates very few leads today (since lead creation must happen much earlier in process) and often sells on price since value was established earlier
Today's leads can't be tossed over the wall from marketing to sales. Buyers expect a smooth transition which mirrors their information requirements. Traditional field sales will find most "inbound leads" unqualified....and most inbound leads will find sales pushy rather than helpful
Demand generation through lead generation is a collaborative responsibility for the entire revenue growth team. While most of the funnel will now be filled with marketing type activities, the 'marketing' department will require help from inside and field sales
As sales is less and less about in person meetings, and more and more about coaching buyers, often virtually, selling requires multiple approaches
there is no longer a marketing funnel followed by a sales funnel. Today revenue growth is a contiguous set of interactions and responsibilities which must support the customer buying process and align marketing and sales actions so that every touch deliberately moves leads through the revenue growth pipeline.
outcomes from every action can be measured and managed for continuous process improvement
follow up must be "helpful" and persistent - and often performed by an inside team
not cold calls
not direct mail
but rather optimized content and awesome SEO driving organic traffic
every interaction should be personalized with "smart" content as soon as attributes can be captured
permeates process from demand gen, through lead gen, project development and sales - can your reps roll that way?