Accelerate Podcast with Andy Paul
June 21, 2017

#490. The Essential Steps that Influence Your Customers’ Decision-Making. With Barry Schwartz.

Barry Schwartz, Author of multiple bestsellers, including the classic book on decision-making, The Paradox of Choice: Why Less is More, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:10] Barry has moved cross-country after teaching at Swarthmore for his entire professional life.

[2:44] Andy mentions he first learned of Barry through a TED Talk, and bought his book immediately. Barry cites Daniel Kahneman, and discusses utility — experienced, expected, and remembered — in relation to decisions you make.

[5:03] Kahneman wrote that an experience is remembered by the average of its peak and its end. If it ended poorly, you will not repeat it. The duration of a vacation is irrelevant. Barry says we are clueless about the influences on our decisions.

[7:33] Barry discusses decisions of the buying process, which he describes as a series of separate experiences and decisions. A good first contact increases the chances that you will get a second contact. The peak-end rule is only one factor.

[10:25] Barry says automatic, unconscious processes (Kahneman’s System One), rather than conscious, deliberative processes (System Two), first influence our decisions. We may deliberate the automated response, to revisit our decision.

[14:14] Barry gives practical advice for B2B salespeople on influencing buyers towards your product. Show your product positives, and help buyers reinterpret any negative factors. Negatives standing alone carry disproportionate impact.

[17:12] Storytelling provides vivid examples that can crowd out some negatives. Savvy buyers may be less susceptible to their automatic processes, but they are still factors.

[18:43] Andy cites Simonson and Rosen, and Barry relates an example of Staples and their printed catalog. When Staples eliminated items in the catalog to save printing, they expected to lose sales. Instead, sales increased in all reduced categories.

[23:09] B2B buyers are not necessarily savvy buyers, because they buy large systems infrequently. There is a limit to how savvy one can be in a high-stakes decision that is rarely encountered. For instance, we’re expert on buying groceries — not homes.

[24:40] Barry explains Kahneman’s Prospect Theory. We’d rather take a small certain gain than a larger uncertain gain. With gains we are risk-averse; however, with losses we are risk-seeking. The neutral point between is easily manipulated.

[28:49] Barry describes the foot-in-the-door technique. A small commitment is easy, which then enables larger commitments.

[30:23] Barry talks about maximizers and satisficers, relating to the good-enough decision. It is miserable and long to seek the perfect solution in a complicated world. Be open to raising standards, but don’t be afraid to accept good enough.

June 11, 2017

Accelerate! Expresso #10: Weekly Highlights Show for June 5-June 10

Accelerate! Expresso is a weekly round-up show that contains highlights from each conversation from the previous week’s slate of guests on Accelerate!

These snippets have been edited into a tight, short show that will give you a taste of the insights you missed if you didn’t catch every episode of Accelerate! last week.

In this episode, you’ll hear excerpts from my conversations with my guests during the week of June 5 – June 10. That’s episodes 476-481.

Listen in as I was joined by the following experts: Cory Bray, Matt Bertuzzi, Jeffrey Hayzlett, Oleg Rogynskyy and Ian Moyse. As always, Bridget Gleason was my partner on Front Line Friday.

Take a quick listen now. Then go back and listen to an entire episode with your favorite guest.

May 23, 2017

#465. Top Trends in B2B Sales and Marketing. With William Wickey.

William Wickey, Senior Manager of Content and Media Strategy at LeadGenius, and one of the authors of an ebook, 2017 Trends & Tech Guide for B2B Sales & Marketing, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:07] LeadGenius, Ambition, and Prezi Business collaborated on the new book, 2017 Trends & Tech Guide for B2B Sales & Marketing. This is William’s second book collaboration with Ambition’s Jeremy Boudinet.

[3:36] William explains how Trends & Tech guides are usually structured, and how this one varies. The authors looked for trends in B2B sales and marketing, and then mapped them to organizational needs, matching technologies to evaluate.

[6:38] William talks about LeadGenius, and the market they serve with analytics and insights. He sees the same challenges and trends outside of tech as within the tech market.

[8:18] William comments on the SDR function rising in inside sales, with the alignment of sales and marketing efforts.

[10:15] The book is intended to reach markets that have not fully embraced tech tools for sales and marketing. William cites manufacturing and construction as examples.

[14:09] William offers suggestions for adopting tech — outbound email solutions, such as PersistIQ, Outreach.io, and Yesware; and solutions for contact data strategy to allow targeted blasts to specific types of recipients.

[18:25] Division of labor allows your reps to spend their time on the highest value activities that they can. Audit your reps’ time on various activities, and look for technologies to make those activities more effective.

[21:31] Outbound can be personalized through mail merge and through targeting. The two efforts complement each other. William suggests a couple of ideas for targeting with the right data, accessing much more than name and address.

[25:31] There is a lot of homogeneity to outbound emails. Go against the trite, expected content. Be specific to the contact. Consider video email.

[28:58] Demonstrating relevance is a big step in the right direction. William is not impressed with zombie, auto-pilot email marketing.

[30:23] Poor marketing and outreach give sales reps a poor response and a bad reputation.

[31:55] Quantity over quality is not sustainable.

January 26, 2017

How to Shorten Time to Revenue with Account-Based Everything. With Jon Miller. #365

Joining me on this episode of Accelerate! is my guest Jon Miller, Founder and CEO of Engagio. Among the many topics that John and I discuss, are how Account-Based Everything (ABE) is not marketing automation but human engagement, methodically orchestrated, assisted by data; how ABE breaks down silos and aligns marketing and sales; and, how ABE shortens the time to revenue for the large, complex sale.  

KEY TAKEAWAYS

[:46] Jon’s BS is in physics, studying fusion. He was accepted by MIT into a Ph.D. program, but, instead, followed his friends into management. Engagio is Jon’s second startup. He cofounded Marketo — recently bought by Visa Equity.

[3:28] With Marketo, Jon fished with a net for whatever they picked up. They tried reaching out to spear big fish with outbound marketing tactics, but Marketo was not a fit for that. Engagio was built as a platform for account based marketing.

[5:48] Until recently, marketing has been a lead-centric business, not an account-centric platform, as sales has been. When marketing and sales work together on the same accounts, they are more relevant, focused, and personalized.

[8:56] TOPO says marketing alone will only get about 15% penetration into the target accounts. What does penetrate better is the account based sales development function.

[10:16] Account based sales development, working independently from account based marketing, builds silos. Engagio works to build all functions together under the same tent: Account Based Everything, a phrase borrowed from TOPO.

[11:06] ABE is a strategy for aligning and orchestrating marketing, sales, sales development, and customer success, into personalized interactions across the account — both for new business and existing customers.

[13:03] How does the ABE approach gives a shorter time to revenue than marketing alone?

[15:34] Account based outbound lets you target big fish, reaching high into those accounts, using the challenger model to create the opportunity, which puts you in a strategic place.

[16:24] The traditional sales model for large account has many hand-offs. The ABE model involves everybody in an orchestrated process. There are no marketing deals or sales deals, but team deals.

[20:36] Jon uses two analogies for Engagio: the orchestra conductor, making sure the right people come in and out at the right time; and the football play mapped out in a diagram, emphasising the elements of the team.

[23:16] This is not marketing automation, but human engagement, methodically orchestrated, assisted by data. Jon explains how it is the opposite of sales spam.

 

December 6, 2016

How to Use Deal Reviews to Close More Orders. With Cian McLoughlin. #323

Joining me on this episode of Accelerate! is Cian McLoughlin. Cian is Founder and CEO of Trinity Perspectives, a sales consultancy based in Sydney, Australia, and author of the new bestselling book, The Rebirth of the Salesman. Among the many topics that Cian and I discuss are the value of detailed Win/Loss Reviews, the surprising things that influence customers in their decisions to buy or not, and why ‘tier two’ salespeople are not your best choice for account management and customer success roles.

October 25, 2016

How to Accelerate the Growth of your SaaS Company. With Nic Poulos. #288

Joining me on this episode of Accelerate! is Nic Poulos, Founder of Bowery Capital, a thesis-driven early-stage investor backing exceptional founders. Among the topics Nic and I discuss in this episode are: why enterprise customers are becoming more willing to buy mission critical systems from start-ups, what strategies help a start-up to get through the growth stage, and how to structure an effective proof-of-concept trial that works for your buyer and you.

September 30, 2016

Is the B2B Salesperson An Endangered Species? With Bridget Gleason. #267

Welcome to another edition of Front Line Friday with my regular special guest, Bridget Gleason. On this episode, we focus our conversation on the changing role of the B2B salesperson in the face of rapidly evolving sales tools, automation, and systems. We talk about the sales behaviors and skills in the sales cycle that are “uniquely human”, and nearly impossible to replace with technology. Listen in as Bridget and I discuss how salespeople can develop the habits and behaviors that not only improve their current performance, but also secure their role in future.   

September 26, 2016

How to Accelerate Your Business Growth. With Jake Dunlap. #263

Joining me on Accelerate! is Jake Dunlap, founder and CEO of Skaled, a revenue innovation group focused on helping clients develop replicable ways to generate new business. In this episode, Jake and I talk about the key revenue growth strategies that Skaled has gleaned from working with hundreds of B2B clients to help them refine their sales processes and increase sales.

July 27, 2016

How to Build A High Performance Sales Culture. With Ron Karr. #211

Ron Karr is the founder of Karr Associates, Inc., a leading sales speaker, consultant and author of several books, including the bestselling Lead, Sell, Or Get Out of the Way: The 7 Traits of Great Sellers. On this episode, Ron joins me to detail the 7 traits shared by great sellers, how to grow a high performance sales culture and how to increase your influence through significance. Ron also talks about “mastermind” groups, how they work and how you can benefit from membership in one.

July 26, 2016

How to Break Through The Noise to Sell to CEOs. With Bill Stinnett. #210

Bill Stinnett is the President and Founder of Sales Excellence International, a global training and consulting organization and the author of Selling Results!: The Innovative System for Maximizing Sales by Helping Your Customers Achieve Their Business Goals. On this episode, Bill and I discuss how to effectively sell to CEOs and major accounts. Among the topics we discuss are Bill’s strategies for breaking through the noise and capturing the attention of CEOs and how to conduct an effective discovery call with C-level execs. Be sure to listen now!