Accelerate Podcast with Andy Paul
July 25, 2017

#520. The Key Traits of High-Performing B2B Marketing Teams. With Mathew Sweezey.

Mathew Sweezey, an author, keynote speaker, and Principal of Marketing Insights at Salesforce.com, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:53] Mathew says the biggest challenge facing sales professionals is understanding how people relate, how they want to be sold, and what they’re actually buying. A-type personalities do not often make the best sales professionals.

[4:17] Many sales postings ask for extroverts. These companies may not be around long. One third of the Fortune 500 has been replaced in the last decade. Old ideas are past. What a company sells, and how it sells, are separate issues.

[7:52] Salesforce surveyed organizations in 2016 to determine traits of high-performance B2B marketers. They used two self-selecting questions to identify the high performers.

[9:42] The questions asked their happiness with their position in their market, and with marketing outcomes. If these were exceptional, they were doing other things exceptionally. The top factor was executive buy-in, because tools are costly.

[11:41] Executive buy-in is the top factor in any organizational change. The CEO holds the organization accountable, and provides the funds to do it.

[13:22] High-performing organizations invest more in tools. High performers use 12 tools in their stack, vs. one-to-five. There must be a base level of technology in place to know the consumer. The C-suite is continually being asked for budget.

[18:22] Mathew shares his opinion on Gartner’s prediction that 80% of the B2B sales process will be owned by Marketing by 2020. Sales still works, but buyers have a new process. It’s the experience in total that matters.

[22:10] Customers will continue to have more information before talking to the salesperson. There will still be many touchpoints. Sales roles will shift and change. There will be a new relationship-building role between Marketing and Sales.

[25:15] The new role must be focused on the relationship. SaaS close rates are poor when the relationship is neglected. Andy cites Absolute Value. Matthew cites The Experience Economy, which places experience over product.

[28:07] People are learning. Skillsets, behaviors, and habits are going to change. The future of selling is about becoming more human, not less. Technology can only help you make better decisions. Matt quotes Tim Washer about blogs.

[30:03] Jacco vanderKooij writes about the emotional phases of the buying experience. Joe Pine writes about guiding the buyer to next question they need to ask through the buying experience. It is a human process of solving problems.

[32:05] The customer experience is about achievement, not about pain points. Support the customer on the story arc where they want to be.

July 24, 2017

#519. Tracking Account-Based Marketing Success. With Andrew Sinclair.

Andrew Sinclair, Founder of Lane Four, an account-based sales and marketing application, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:01] Andrew says the biggest challenge facing sales reps is the time it takes reps to do administrative tasks instead of selling, to meet management’s need to track field activity.

[3:25] Terms like ‘track,’ ‘report,’ and ‘measure’ indicate that CRM is not meant to facilitate the job of the reps, but to control their activity. Andrew prefers enabling end-of-job tasks, such as using the sales order to enter activity data.

[6:06] Lane Four, for ABM, came from Andrew’s consulting company, which is focused on supporting funded startups. Four years ago they started building tools to make Salesforce easier for marketers. This led to account-based services.

[7:57] Bolting apps onto Salesforce can lead to data in separate sets. Lane Four is a native app integrated into Salesforce, minimizing data lag.

[12:49] Andrew explains how lead assignment and follow up — the first of the prototypical processes of Lane Four — is facilitated. Tracking is done automatically, measured in business hours between activities.

[15:30] Account creation is the second main process in Lane Four. Andrew talks about understanding organization and industry factors, leading to good account decisions.

[16:46] Opportunity creation is the next process Lane Four addresses. Andrew discusses forecasting models and various aspects of this process.

[18:18] The meaning of opportunity depends on what you want to measure, how long the sales cycle is, and how many meetings it involves. There is a lot of tracking involved.

[19:34] The longer the sales cycle is, the fuzzier the stages are, and the harder it is to track time. Andrew talks about the need for weekly sales meetings as a separate channel for tracking.

[21:27] Andrew notes adoption curves. Not everyone enters data at the right point and time. Predictive tools are only as good as the data entered.

[24:45] Humans are hugely unpredictable. Even large data sets can measure the wrong data and come up with the wrong forecast. Use regular sales meetings to verify engagement data. SDR data tools help measure sales engagement.

[27:10] There has been no widespread A/B testing on the use of SDR tools. People keep going for the shiny object. People on different tools are not being tracked similarly. Operational models need to be consistent, so as to track them consistently.

July 13, 2017

#508. How to Modernize Your Customer’s Sales Experience. With Daniel Rodriguez.

Daniel Rodriguez, VP of Marketing at Seismic Software, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[:44] Daniel says many organizations have up-to-date marketing, and 2017 websites, but offer a 1997 customer sales experience. Sales reps take outdated decks (that aren’t even customized for this customer) to their intro meetings.

[3:07] Reps put themselves at a disadvantage by not using existing data about the customer in their intro. Reps may feel that they can’t access the data. The data needs to be on their phone and in Outlook.

[5:10] It has to be easier for a rep to do the right thing than to do the wrong thing. Daniel suggests that the organization should provide tech to conform to the rep’s existing behavior.

[6:16] Andy says the issue is that sales is in an unhealthy condition. Some behaviors need to change. Tech should make it easier to make needed changes. Daniel talks about the benefits for ‘B’ and ‘C’ players of a platform like Seismic.

[8:38] Modeling after the ‘A’ players may be a bad idea, as far as the process goes. ‘A’ players are given more leeway to go outside the process, due to their overperforming.

[9:50] ‘A’ players use their strengths. Is a ‘B’ player able to become an ‘A’ player, working within the process? Stage advancement is a main metric of success. Study which materials are most effective at each stage, for any rep to use.

[11:55] Knowing the correlation coefficient for material effectiveness is a challenge, by the large number of moving parts in any stage. Data suggests there are some things you should use that will be helpful, because they fit this case.

[14:18] There are other materials shown by data to be ineffective or negative. Reps need to be able to find the right content. Sales and Marketing need to discard content that is not good, and make good content findable.

[15:41] Marketing controls the overall message, but there is a targeted message for each sale. Sales wants control over that. Seismic gives content tools to Marketing and Sales, including required industry regulatory compliance language.

[19:42] Seismic transforms your message and sales collateral into strategic assets for your business. Marketing is not about billboards anymore, it’s about handing leads to sales. Now ‘enablement’ ties the CMO to revenue gen. and rep success.

[22:05] Seismic is used in Marketing and in Sales. It provides interaction with digital content. It allows screen sharing, and selling by iPad, to provide hyper-tailored content and follow-up collateral for that lead, in real time.

[24:36] Just before a sales meeting, a rep opens the Seismic app, finds the intro presentation, opens it, and runs a wizard that customizes it through CRM for the specific account, with a fitting case study. Daniel explains the full process in detail.

July 8, 2017

#503. The Future of Marketing is Now. With Jon Wuebben.

Jon Wuebben, Founder and CEO of Content Launch, author of  Content is Currency: Developing Powerful Content for Web and Mobile, and Future Marketing: Winning in the Prosumer Age, joins me for the second time on this episode of #Accelerate!

KEY TAKEAWAYS

[1:21] Prosumer is a term coined by Alvin Toffler in The Third Wave, meaning producer and consumer in one. Jon says our interactions with Amazon and Facebook equal production and consumption of content. This is the Prosumer Age.

[3:09] Prosumers may not be direct customers, but they help determine marketing. Prosumers are breaking down the wall between company and customer in new ways with new tech.

[4:39] The customer experience is a collaborative process, especially B2B. Jon equates prosumer and customer experience. The Prosumer Age will grow in the next 10 years.

[5:51] Jon discusses megatrends — innovating to zero (carbon emissions, etc.), zero concept world (zero defects, zero breaches of security), mass efficiency.

[6:23] In many industries there is a zero point that is desirable to achieve. There is much waste today, and room for efficiencies across the board in every production process.

[8:32] Herbert Simon wrote about being overwhelmed by information, and making choices for the best investment. Andy points out overuse of technology can make us less focused.

[10:06] The sharing economy will become a bigger trend. Uber drivers have freedom of time they didn’t have in an office. Connectivity and convergence is a trend. In 2020 there will be five billion web users — with 50% on tablets.

[15:26] Jon discusses accuracy of prediction. Whether disruption will provide economic efficiency is to be seen. We need strong committed leaders to ‘usher in’ this new age.

[17:11] In near term, content marketing is a big trend, but as we produce more content, individual contributions are less effective, through competition for attention. Be on the forefront of what’s next. Use VR, or the next thing, for content.

[19:33] Native advertising is material within your blog or site, that resembles your content, but is a paid promotion. Influencer marketing uses influence partner’s networks to your advantage.

[23:33] Purpose-driven marketing refers to social purpose, important to Millennials and Generation Z. They want it to be authentic — not a campaign, but a culture. Jon suggests how a company can identify their purpose.

[27:41] Jon replaces the four Ps (Product, Price, Promotion, and Place) with EP2, which stands for Engagement, Experiences, Personalization, and Passion. This centers in every way about the prosumer, not about the company.

[29:50] Jon foresees a niche explosion replacing the mass market. The more focused on the customer, the more tightly defined a group you can serve, with more success. Big data drives this trend.

May 31, 2017

#472. How to Apply the 80/20 Rule to Your Sales. With Perry Marshall.

Perry Marshall, bestselling author of 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:27] Perry wishes he had had the 80/20 book when he got into sales after being laid off. There was so much he didn’t know. He got fired after two years. He got another job in direct marketing, and it started to click for him.

[7:18] Vilfredo Pareto figured out 20% of the people had 80% of the money. In sales, 20% of customers provide 80% of the sales. 20% of salespeople make 80% of sales. There’s always another 80/20 inside. It’s universal, and not only about money.

[11:32] 80/20 is a law of nature, because of positive feedback. Perry spells it out by examples. Past behavior reinforces future behavior.

[13:18] Perry tells how 10 salespeople start off on an even keel, but through positive feedback, one gets way ahead of the others. Some get negative reinforcement, and drift off course. Within a few months the top salesman sells 16 times more.

[15:24] Perry talks about a rock being eroded into the Grand Canyon. When erosion starts, you are on the way to a canyon. Inequalities multiply and compound. People try to equalize things. The best salesmen seek to amplify the inequalities.

[17:33] Perry lists five power disqualifiers. Apply each of these disqualifiers to contacts before asking for an appointment. You will learn which contacts are not leads. Sales starts with, “Well, who do I not pitch?” It’s a disqualifying process.

[20:44] Perry’s friend John hiked to Las Vegas at 17 to become a professional gambler. He met Rob, who taught him ‘racking the shotgun,’ to divide the ‘marks’ from the people paying attention. In sales, separate the prospects using natural law.

[25:38] Perry found that everything in his business matched an 80/20 pattern. You can use it predictively. Perry explains how, with 1,000 Starbucks customers as an example.

[30:19] Use the 80/20 rule to escape being in the 80%. Perry talks about sales styles. He calls his first boss a hostage negotiator. Others tell stories. Perry invented the Marketing DNA Test to help salespeople find their successful sales style.

[36:25] Align the way you sell with customers who buy the way you sell, and products that match your sales style. Perry says you can’t be a consultative seller as a cold caller. Find a role that matches your strengths.

[37:01] Perry writes books rather than cold calling. For him, cold calling would be a $10/hour job. Why do that when he can have the $1,000/hour job?

May 3, 2017

#448. Sales/Marketing Alignment and Account-based Strategies. With Justin Gray.

Justin Gray, Co-Founder and CEO of LeadMD, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:24] Justin describes his two companies in brief, LeadMD and Six Bricks.

[3:32] Justin wrote an article on trends to watch: Quality, Tribe, and Process. Justin discusses Quality. People are evaluating how much time they can put into building brands with awesome content. Justin considers quality of content.

[8:52] How many emails should you send? How do you personalize 100K messages? Are your stacks set up to give you quick access to the data you need for personalization?

[12:22] Justin says data is the key for email, but the needed data from accounting and email systems are difficult to curate.

[14:43] Justin uses Engagio to tap into systems and retrieve essential data.

[15:22] SMBs can pivot in an agile manner. Hubspot has articles about best practices for SMBs. SMBs can learn from the mistakes of the Enterprise. Gather web behaviors and cart behaviors, and capture data.

[17:17] Build unity through trust. Are you all on the same mission? Justin evaluates five levels of Tribes.

[22:06] ABM and ABE mean ABR, according to Trish Bertuzzi. Is anyone person driving the boat in a sale? Don’t stress attribution, but on engagement. Look at it from a team perspective. There are multiple touches in the process.

[25:03] Justin talks about Process, regarding the buying committee, and mapping it to one or two people on the seller side. There should be no surprise decision makers that show up at the end of the deal, if you have an effective ABE Process.

[26:43] Sales and Marketing alignment, means the entire organization, including Customer Success, agreeing on the ABE process, and how it unrolls. Everyone on the team has a role. How to measure them all still needs some definition.

[29:03] Justin has some ideas on person-to-person engagement in sales. Justin talks about playbooks and plays, and measuring and recording activities.

[32:07] Use the solution that fits the income from an account. Small accounts cannot support the ABM treatment. What can you afford to invest in this account that will make the biggest impact? Go and do that.

April 10, 2017

#428. Correctly Using Data to Manage Sales. With Greg Dalli.

Greg Dalli, Co-Founder of Clarus Designs joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[:47] Greg became legally blind at age six, and soon realized he would need a different approach to problem solving. After college, he became a business intelligence analyst for a startup. He helped scale the firm from $15Million-$200Million.

[2:36] The purpose of Clarus Designs is to help sales and marketing teams make better decisions, and grow, using data.

[2:58] Greg tells how to find ‘the truth,’ which varies case by case. You start with clean data.

[4:13] Clarus Designs simplifies problems, to focus on what is actionable. Does it matter how many emails it takes, on average, to touch a contact?

[7:11] Clarus Designs helps teams look at metrics in relation to other changes, such as, new customer growth in relation to average sales price. Greg tells how the two metrics correlate.

[8:28] Clarus Designs suggests teams can tie activity metrics to success metrics. It’s not just how many emails they send, but how many people they connect with, as a result.

[10:30] Greg explains how success metrics might be applied usefully, or how they might lead to missing goals.

[12:00] Assuming from last year’s data that 5X pipeline coverage will yields your sales goal does not work. The pipeline will get filled with unqualified leads.

[14:18] The more stressful the situation, the more likely people crave control. They seek control through activity metrics, but activity metrics are not tied to outcomes.

[20:47] Greg contrasts time management with efficiency, or sales dollars per hour of selling time.

[25:10] Asymmetric metric variability represents a skewed distribution, in forecasts. It is easy to overestimate when the deal will close, and underestimate the discount to get the deal.

[29:25] Managing pipeline coverage must assume a significant percentage of the coverage will fall out from no decision.

April 3, 2017

#422. Inspire Buyers to Action. With Doyle Slayton.

Doyle Slayton, CEO and Founder of Xoombi, joins me for the second time on #Accelerate!

KEY TAKEAWAYS

[:34] Doyle was in sports broadcasting, cold-calling for sponsors. He learned he loved sales! He moved to outbound prospecting and management, but started to find that nobody picks up the phone anymore! He saw there was a problem.

[5:27] It’s all about alignment. Doyle suggests how to get marketing and sales together to get sales moving. How does branding fit in the buying process?

[7:27] Doyle examines a variety of issues in sales today. Every consultant has a different take. What is happening on the front lines? Doyle gives his thoughts on simplicity.

[9:02] What are the must-have tools? Doyle talks lists, personas, multiple contacts, and accounts. Direct dial numbers and email addresses are key. What does Doyle suggest about marketing automation?

[13:19] The discussion turns to Saleswings, HubSpot, and other tools of the trade.

[15:09] How do you combine application with theory? Doyle gives a couple of case studies.

[18:20] The books, Influence, Pre-Suasion, and The Science of Selling, explore the emotional/psychological side of decisions. Doyle says canned demos are “where deals go to die.” Be different from your competition by being “of” your client.

[21:54] Doyle boils it down to inspiring buyer action. He makes points on web presence, cool factor, curiosity, scarcity, process efficiency, case studies, social proof, and an easy entry point.

[29:33] Doyle puts himself in the shoes of his clients. He identifies with them as he advises them. His passion carries into prospecting and sales calls.

 

March 6, 2017

How to Accelerate Your Growth with Marketing and Sales Alignment. With Tracy Eiler. #398

Tracy Eiler, is Chief Marketing Officer at InsideView, and the co-author of a new book, with Andrea Austin, called Aligned to Achieve: How to Unite Your Sales and Marketing Teams into a Single Force for Growth.

KEY TAKEAWAYS

[3:58] Tracy and her co-author, Andrea Austin, found that their clients’ sales and marketing departments had no understanding of, or trust for, each other.

[6:56] Sirius Research claims a 19% faster revenue growth when sales and marketing are aligned. Tracy talked to Sirius about their benchmark testing, which they did through surveys of behaviors, processes, and revenue figures.

[8:09] Alignment reduces process friction by coordinating lead data with CRM data, so leads go to the right group. There is also coordination of lead scoring. People friction is reduced by removing intimidation, and by adding communication.

[10:46] Tracy chairs a bi-weekly Smarketing meeting covers a six-week window, following up on past events, current activities, and upcoming plans. It holds teams accountable. It is a venue for ideas. Sales and leadership meetings also include marketing.

[14:24] Tracy found that in 25% of their six-figure deals of the last year, there were engaged in the sale, an average of 34 individuals per client account, representing sales, marketing, ops, IT, and so on, through webinars, website visits, trials, etc.

[16:37] The book has a test for marketers to measure whether their sellers trust them, with questions like, “Has your seller shared their account plans with you,” “Have they taken you on a call,” and, “Have they followed up your leads with feedback?”

[18:32] The alignment problem is getting worse. Tracy cites the messy MarTech stack. Examine if your tech is adding value to your marketing and sales alignment.

[24:45] Sales thinks of top-of-funnel, but marketing can help mid-funnel as well, with engagement. Have the conversation, and apply all the tools available.

[27:01] Aligned to Achieve uses a sideways figure eight from Forrester Research to replace the sales funnel, cycling through the Find, Engage, Close, and Grow stages of the account relationship.

March 4, 2017

How to Add Value with Affiliate Marketing. With Priest Willis. #397

Priest Willis, Founder and CEO of Affiliate Mission.

KEY TAKEAWAYS

[1:22] Priest is President of AffiliateMission.com, an online affiliate management company, managing large to small business affiliate programs, for the past four years.

[2:06] Priest started in business building PCs, but got tired of cleaning up people’s viruses. Then he sold software on eBay. Next he  created websites, and he became an affiliate. He started affiliate marketing and has stayed with it, ever since.

[3:58] Affiliate marketers earn commissions promoting other people’s products on their websites. A blogger can put up a banner for a related product. Sales are handled by the vendor that sells it. Amazon was one of the first big affiliate players, in 1996.

[6:22] Merchants with affiliate programs work with a third-party tracking system, or an affiliate network. Some of the big names out there are: CJ Affiliate (formerly Commission Junction), ShareASale, and Impact Radius. They track cookies.

[6:45] Clicking on the banner drops the cookie; the cookie alerts the affiliate network; the affiliate network waits for the sale to convert and register a commission. The commission could be a flat amount, or a percentage of the sale.

[7:38] Typically, if the sale is not converted within 30 days, the cookie expires. So, the customer may abandon the shopping cart, but if they make the purchase within the duration, the affiliate gets the commission.

[9:08] Andy asks how people could get into affiliate marketing. He could enter as a merchant, offering affiliates incentives to market his books on their websites, or he could become an affiliate of a merchant in a niche where he already has a blog with readers.

[11:48] Affiliate marketing will not drive traffic to your site. If you decide to start a cooking blog, and want to affiliate with an oven manufacturer, be aware of the work ahead of you, to get a following that will provide eyes for your affiliate banner.

[14:50] Look on YouTube for great videos to teach you about affiliate marketing. This works on Facebook, Twitter, and Instagram, all three or any one. Post the text links in connection with your mention of the product, or in your bio.

[19:51] Priest recommends only affiliating with products that are cohesive with your own brand. A computer blog doesn’t need a banner for skateboards or detergent. Look at your pages as real estate, and think where to put the banner or link.

[26:45] Affiliate Mission works for large merchants to manage their ecosystem of network and affiliates. They represent the merchants to the affiliates, supplying current materials, links, and cookies. They find new affiliates for the merchants.

[32:48] Priest likes capitalism to make a difference in the world. He tells clients that Affiliate Mission will give 3-to-5% of their profits from that client to a charity of the client’s choice. The mission is giving back.