Heinz the essential building blocks for revenue growth by B-design

THE MODERN MARKETERâ&#x20AC;&#x2122;S WORKSHOP The Essential Building Blocks for Revenue Growth

TABLE OF CONTENTS ABOUT THE SPEAKERS 3 UNDERSTANDING SALES DEVELOPMENT AS A PROCESS

What is Sales Development & Why Should I Care?

7 Building Blocks of a Sales Development Process

Sales Development Process

Mapping into Current Marketing & Sales Activities Roles & Responsibilities

Sales Development Evolution Conduct a Sales Development Review

8 9 11

IMPLEMENTING A SALES DEVELOPMENT PROCESS Design Your Process

Objectives Understanding & Targeting Your Buyer Develop a Content Strategy Lead Scoring & Nurture Iterative Campaign Framework

Deploy Your Process

19 20 23 24 27 29

Implementation Plan Marketing & Sales Alignment Reporting

31 35 36

Process “Hack-A-Thon”

13 15 16

WRAP-UP 40

WRAP-UP & HOMEWORK 18

MORE RESOURCES 41

Messaging by Audience Positioning vs. Competitive & Market Forces Content Review & Funnel Analysis

ABOUT HEINZ MARKETING 42

About the Speakers Matt Heinz Prolific author and nationally recognized, award-winning blogger, Matt Heinz is President and Founder of Heinz Marketing with 20 years of marketing, business development and sales experience from a variety of organizations and industries. He is a dynamic speaker, memorable not only for his keen insight and humor, but his actionable and motivating takeaways. Mattâ&#x20AC;&#x2122;s career focuses on consistently delivering measurable results with greater sales, revenue growth, product success and customer loyalty. Matt is a repeat winner of Top 50 Most Influential People in Sales Lead Management and Top 50 Sales & Marketing Influencers. Matt is living through the renovation of a 105-year old historic farmhouse in Kirkland, Washington with his wife, Beth, three young children, a dog, two rabbits, and seven chickens.. You can follow Matt on Twitter @HeinzMarketing and view his background on LinkedIn.

Robert Pease Robert leads our Pipeline Performance Practice and has over 20 years of experience leading teams, taking products to market, and building customer and partner relationships. He has been a CEO, CMO, and has held various marketing and sales related positions during his career. He has extensive knowledge of sales and marketing strategy, process, and enabling technologies and works with clients to improve how they identify, engage, and convert customers. He has designed and implemented account-based marketing strategies and sales development programs in companies of all sizes and industries with an emphasis on SaaS/software and technology. He is the father of two daughters, an avid runner, and is always on the hunt for good BBQ as a Southern transplant to the Pacific Northwest. You can follow Robert on Twitter @RobertCPease and view his background on LinkedIn.

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Understanding Sales Development as a Process

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What is Sales Development & Why Should I Care? Sales Development is the â&#x20AC;&#x2DC;scienceâ&#x20AC;&#x2122; behind every successful company; companies where Marketing and Sales are walking in lock-step towards common goals. How you identify, engage, and convert new customers is fundamental to business operations. To see positive results come from your Sales Development efforts, you need to build a repeatable, scalable Marketing and Sales engine that is not dependent upon an individual sales superstar. Instead, sales development works to align Marketing and Sales activities under common goals and coordinated strategies and unites the two parts of the organization around revenue objectives for the business.

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7 Building Blocks of a Sales Development Process

Any successful Sales Development effort requires discipline around the sales outreach and engagement process. Use this framework below to ensure you consider each element as you prepare for the launch of your Sales Development effort.

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Sales Development Process

Mapping into Current Marketing & Sales Activities Think about how the 7 building blocks of the Sales Development framework impact your organization. How do your Marketing and Sales activities align now? Draw connecting lines where appropriate.

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Sales Development Process Roles & Responsibilities

Marketing and Sales are each part of the solution at all stages of the buying process - in equal parts. Making sure the teams are aligned on strategy and execution is key to bringing the marketing and sales functions closer together. Support, Operations and IT may also be involved so be sure to include them where appropriate. Complete this table by identifying the part of the organization that owns each component of the plan.

Sales

Marketing

Support

Operations

Strategy & Objectives Define objectives Define monthly/weekly objectives Determine meeting/reporting cadence

Target Audience Definition Establish named account target profile Develop target account personas Develop target account prospect list

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Sales Development Process Roles & Responsibilities (cont.)

Sales

Marketing

Support

Operations

Content & Engagement Strategy Complete content map Define lead & opportunity stages Develop engagement offers

Execution Detail Determine account/prospect details in CRM Develop tactical instructions for sales reps Develop training program for sales reps Set up buying signal alerts for sales reps

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Sales Development Evolution

Before you can begin to develop your own Sales Development process, you need to understand your current situation. Circle the appropriate box across each row that aligns to your current situation in your organization. Initial

Ad-Hoc

Defined

Managed

Optimized

Target Market

Lack of clearly defined target market and Ideal Customer Profile (ICP), no personas

Limited/ assumption-based approach to market/ customer. Limited to no qualification criteria defined

Ideal Customer Profile defined, personas defined and articulated

Known accounts, defined and agreed to qualification criteria, defined and confirmed personas

Iterative approach to target account identification, dynamic personas, qualification criteria drives targeting

Sales Cycle

No known or defined repeatable approach

Ad-hoc approach and understanding of how customer buys

Understood time and decision-making process, friction remains

Known and articulated buying journey, enablement focus

Selling process aligned with buying process, all known friction removed

Team

Undefined roles and responsibilities, no skills mapping/development

Major functional roles defined, high churn, low performance

Roles, responsibilities, and competency profiles defined and operational

Responsibilities and hand-offs known and operational, team is performing

Aligned team structure, career path and skill milestrones

Message

No unified message and/or compelling value proposition

Confusing and disorganized message, no consistency and company-centric

Defined messaging and positioning mapped to audience, speaking to market and needs vs. feature/benefit

Content editorial calendar in place, major trust validation content in production, defined industry "point of view"

Versioned strategic messaging framework approach, content editorial calendar speaks to customer need/outcome

Reach

One-off bulk emails, direct ask outreach

"Every person for themselves" with no coordination

Sales playbook(s) in place but used for reference vs. execution

Coordinated efforts among email, phone, online, offline channels

Integrated and executed outreach "plays" across channels

Enabling Technology

Limited to no real technology in place. Basic email, phone, spreadsheets

Individual purchase decisions drive technology, low utilization, no integrated plan

Major categories purchased and in place, some coordination among teams

All current tools configured and utilizied to justify expenditures

Technology aligned with process, approach in place to test new tools

Metrics of Success

Random and inconsistent measurement

Individual teams and contributors track and promote their metrics

Major categories tracked but bias towards actions vs. outcomes

Alignment around creating opportunities and revenue contribution across all activities

Full funnel measurement and accountability

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Conduct a Sales Development Review Messaging by Audience

Gathering data for your audience, or buyers, should come from a number of different sources: sales reps, marketing automation system reports, predictive analytics tools and website tracking software. What messaging for each audience do you currently have? Where are there gaps? Use this template below as a guideline. Audience

Drivers

Pain Points

Value Propositions (bullet points)

Key Messages

Vertical #1 CEO

IT/CIO

CFO

CMO

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Conduct a Sales Development Review Messaging by Audience (cont.)

Audience

Drivers

Pain Points

Value Propositions (bullet points)

Key Messages

Vertical #2 CEO

IT/CIO

CFO

CMO

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Conduct a Sales Development Review

Positioning vs. Competitive & Market Forces Now, think about your product or service positioning statement; what you’re trying to sell and why. Writing this out forces you to think critically about your product or service and how it compares in the marketplace. This helps differentiate against your competitors and gives Marketing and Sales a better understanding of your position in the marketplace. Fill out the statements below to develop a starting threshold for your product or service.

_________________________________ provides ______________________________________________ [insert your company] [insert product or service category] for ___________________________. My target customer is _______________________, ________________________, [insert target customer] [target customer characteristics] and____________________________. So they can __________________________________________________________. [target customer characteristic] [insert product’s or service’s primary benefit] Unlike ______________________________________, we ____________________________________________, [insert product alternative or competitor] [insert product/service’s 1st key differentiator] ______________________________________________, and _______________________________________________. [insert product/service’s 2nd key differentiator] [insert product/service’s 3rd key differentiator]

Conduct a Sales Development Review Content Review & Funnel Analysis

Your sales development efforts will be for naught without a content strategy that considers each type of audience member and each stage of the funnel. Depending on the stage of the funnel, the content should touch on topics that reflect the audience’s pain points and key motivators. Check the grid below against the current content you have. Does your content align with the grid? Journey Stage Unaware

Aware

Buyer's Intellectual and Emotional State

Supporting Content Approach and Style

• Unaware of problems with, or unconcerned with the status quo • Unaware of specific processes the solutions can support

• Satisfy the need for more information • Focus on an educational approach that assumes non-technical personas do not understand solutions • Share stories that demonstrate there is a better way than the status quo • Provide practical insights a non-technical audience can relate to • Make content easy for discovery and consumption

• • • • • • •

Webinars Videos Usage Scenarios Whitepapers E-books Blogs Infographics

• Aware the status quo is not optimal • Early learning stage about solutions

• Establish trust through thought leadership and empathy to status quo situations • Education and awareness focus - distinguish between technical and non-technical personas • Share stories that demonstrate there is a better way than the status quo • Distinguish thought leadership content from top of funnel demand gen content

• • • • • • •

Webinars Videos Whitepapers E-books Online Magazines Blogs Infographics

Interested - • Open to changing the status quo • Address common question and introduce best MQL • Potentially anxious about how to start practices a path to success • Share stories that demonstrate there is a better way • Interest in solutions and how they can than the status quo change the status quo for better • Distinguish thought leadership content from top of funnel demand gen content

Channel Tactics Varies by Journey Stage

• Webinars • Videos • Playbooks and Success Guides • Blogs • Personalized Assessments • Online Magazines

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Understanding Sales Development as a Process Wrap-Up & Homework

Preparing a strong Sales Development strategy doesn’t happen overnight. It takes some in-depth research of your organization’s Marketing and Sales setup, meticulous understanding of your market and careful planning to develop a framework that works towards your objectives. This happens in a 3-phased approach: review, design and deploy. Before we can jump into the design and deployment, use the tools we’ve just discussed and reviewed to conduct a full Sales Development review. As you accomplish each task or question below, check them off the list to show completion.

Ideal Customer Profile defined and approved?

Target personas for all involved in buying process?

Messaging by audience?

Compelling positioning?

Content mapped to funnel stage?

Internal sales process defined?

Aligned metrics and incentives?

Implementing a Sales Development Process

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Design Your Process Objectives

A well-defined Sales Development program starts with the objectives. For this process to occur smoothly, objectives need to be developed together across both Marketing and Sales teams. For sales to receive the kind of leads they want, Marketing and Sales need to work together throughout the entire process from design through to implementation. First, start with your objectives. Use this grid to develop key metrics together.

Assumptions Mid-Market ASP $ 65,000 Small Enterprise ASP $ 120,000 Large Enterprise ASP $ 240,000 Opp/Close % 25.0% Lead/Opp % 5.0% Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

TOTALS

Mid-Market Sales # Small Enterprise Sales # Large Enterprise Sales # Total Sales # Mid-Market Sales $ Small Enterprise Sales $ Large Enterprise Sales $ Total Sales $

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Design Your Process Objectives (cont.)

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

TOTALS

Mid-Market Pipeline # Small Enterprise Pipeline # Large Enterprise Pipeline # Total Pipeline # Mid-Market Pipeline $ Small Enterprise Pipeline $ Large Enterprise Pipeline $ Total Pipeline $ Mid-Market Leads Small Enterprise Leads Large Enterprise Leads Total Leads

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Design Your Process

Understanding & Targeting Your Buyer

Title of Specific Audience Member Profile Overview:

Responsibilities: Profile Attributes: Demographics:

Pain Points:

Firmographics: Key Drivers/Motivators: Geography: Other Considerations:

Validations and Influencers:

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Design Your Process

Develop a Content Strategy Once you understand your audience and competition, mapped your objectives, developed your ideal persona, youâ&#x20AC;&#x2122;re ready to work on content. Where are the gaps in your current content? Do you have enough top-of-funnel content to drive leads through to opportunity? Do you have enough bottom-of-funnel content to help seal the deal? Your Marketing and Sales alone are not enough to drive and guide leads through the funnel; you need robust content. Use the grid below to outline which content you already have and where it fits, as well as new content to be developed.

Leads

Stage

Definition

Open/Not Attempted

New lead, has not been attempted or contacted by sales

Attempting to Contact

Sales has begun the process of following the lead follow-up process to reach the prospect live

Interested

Prospect has expressed interest in ABC Company and/or achieving better results, and is interested in learning more; full qualification criteria intent/ purchase timeline still unknown

Nurture

Prospect is interested, but there is no near-term opportunity to buy (prospect may have other immediate priorities, or may just need more time to consider interest/intent)

Unresponsive

Haven't been able to get ahold of prospect after repeated attempts

No Further Action

Lead is not a qualified prospect

Content/Topics

Tools/Formats

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Design Your Process

Develop a Content Strategy (cont.)

Opportunities

Stage

Definition

Qualified

Prospect has a need & budget, and is actively evaluating solutions

Presentation & Demo

Demo has been scheduled or completed; working through objections & questions

Proposal

Formal proposal is in process or has been delivered outlining terms, services, fees

Negotiation

Prospect has verbally agreed to do business; both sides are working through final legal/ term/service/fee details

Agreement has been signed and returned

Closed Lost

Opportunity has stalled indefinitely or is dead

Content/Topics

Tools/Formats

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Design Your Process

Lead Scoring & Nurture Lead scoring is a smart practice as it allows Marketing and Sales to determine lead fit and follow-up priority. Typically, a scoring strategy is developed jointly between both Marketing and Sales teams to ensure consistency and measure the overall quality. Additionally, lead scores help Marketing provide resources to support follow-up and nurturing programs, while it helps Sales prioritize active selling time. Side note - itâ&#x20AC;&#x2122;s helpful to map out a score key first to use universally.

Part 1

Use the grid below to map out current Marketing actions and assign the appropriate score. A

Marketing/Sales Campaign Launch Action ________________

Action ________________

Score_________________

Action_________

Score__________

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Design Your Process

Lead Scoring & Nurture Part 2

Add up your scores using the point scale. Then, align in the appropriate boxes in the table below. If you fit into any of the red boxes, these leads are likely ready for sales and can be considered ‘sales qualified’. Leads that fall in the white boxes should remain in Marketing for nurture until ready for Sales. Score

Point Scale

1 50+ Points 2 35-49 Points 3 20-34 Points 4 <20 Points

Intent (Action) Level of Interest

1 2 3 4

Design Your Process

Iterative Campaign Framework

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Deploy Your Process Implementation Plan

Once leads start flowing into the sales arena, there needs to be some kind of manufactured plan or process to deal with them. That’s where Plays come in. Creating a playbook with a handful of different scenarios to nurture and work with each lead will streamline the flow through the funnel. No lead is equal which is why it is crucial to have a playbook with a number of different plays. And without these plays, you’re likely randomly reaching out, offering random content, scheduling demos before they’re ready and not focused on your original business objectives. Creating and brainstorming new Plays for your playbook can be challenging at first. Here are 5 plays to get you started:

1. Cold Outreach

Arguably one of the most used and most poorly executed plays out there. Done properly, this can add new opportunities to the sales pipeline quickly. This requires a coordinated and measured approach that involves both Marketing and Sales to work closely together.

2. Give, Give, Get

This play can be run by Marketing and Sales. It involves building credibility and sharing information with target prospects that would be valuable to them even if they never talk to you. The goal, of course, is to get a conversation but approaching that goal with a bit of patience and thoughtfulness goes a long way.

3. Surround and Astound

This can be run in parallel with other plays or as its own play. It is designed to “surround” the target personas in their web and social activity. There are many technology providers that can enable this for web activity including Adroll and Terminus and social platforms like LinkedIn, Twitter, and Facebook all have the ability to tightly target based on a wide set of criteria.

Deploy Your Process

Implementation Plan (cont.) 4. Action Required

This play assumes some “warm up” work has been done and the target prospect is aware of the company and the problem it solves. In other words, don’t run this one first.

5. Recycle

Companies spend a significant amount of time and effort generating new leads and handing those off to the sales team. They often spend less time and effort following up once they have gone cold or are no longer in an active sales conversation. This play is designed to re-engage with previous leads that made it through the qualification hurdles in place to “recycle” them. Even if you have an active nurturing program in place, this segment of Target Contacts needs more contextual engagement than a newsletter or drip campaign. Are there any other plays you’ve heard of or used in the past? Play #6: Details: Play #7: Details: Play #8: Details: Play #9: Details: Play #10: Details: 32

Deploy Your Process

Implementation Plan (cont.) Once your playbook is developed, think through how these plays work together for your audience. Hereâ&#x20AC;&#x2122;s an example:

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Deploy Your Process

Marketing & Sales Alignment Marketing and Sales have been working closely together to get this plan developed and implemented in their daily cadence. But, in order for the plan to continue working as intended, Marketing and Sales will have to continue working together and checking in weekly on goals and objectives. This alignment will only work if a weekly coordination occurs. Start with this suggested weekly agenda below and tweak as necessary.

Item

Detail

Opportunities Created & Deals Closed

Compared to previous time period, where did they come from, how do we get more of them?

Process Improvements

What needs attention/is working well?

Restate/Review Qualified Lead Definition

Are we engaging the right accounts and contacts?

Service Level Agreement (SLA)

Do we have the right skills in place? Training needed? Open headcount?

Major activities until next meeting

What is happening next? Marketing campaigns? PR activity? Sales contests?

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Deploy Your Process Reporting

To understand exactly how your efforts are working, you need to have some kind of a reporting system. Whether the reporting is done weekly, monthly, or quarterly, is up to you. And, for some metrics, the reporting might need to be completed at different times. We like to use this grid below. Cadence

Key Metrics

Weekly

New Leads Cost per lead Lead growth rate Lead follow up rate (time & %) Lead to opportunity conversion rate Calls per day/week Connect rate Meetings completed Email opens/clicks Opportunities created

Monthly

New revenue Opportunity to close rate Days in stage Cost of Customer Acquisition (CAC) Payback period Actual to plan Opportunities created

Quarterly

New revenue Opportunity to close rate Days in stage Cost of Customer Acquisition (CAC) Payback period Actual to plan Opportunities created

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Process “Hack-A-Thon”

Now, it’s time for you to create your own Sales Development Process. Fill in the boxes below with the necessary criteria for your Marketing and Sales teams to implement Sales Development successfully in your organization.

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Implementing a Sales Development Process Wrap-Up

Every successful Sales Development strategy takes careful thought and consideration. This doesn’t happen overnight. With the “Hack-A-Thon” you’ve just completed, you now have a foundation to build from. Think more critically about your target market and ideal persona. How can you more successfully differentiate from your competitors and enable your Marketing and Sales teams to demonstrate that difference? Where are your biggest obstacles and what’s the solution to overcome them? Remember this is a marathon, not a sprint. This is also dynamic and may need to be adjusted as it gets tested and implemented. The beauty of a Sales Development strategy is it never goes static, it is constantly evolving with you and your business.

more resources

If you’d like to learn more, here are some resources available to you:

Web Workshops: Heinz Marketing Live + OnDemand Event Catalog

E-book: Full Funnel Marketing: Ideas to Increase Marketing’s Influence on Pipeline Growth and Closed Deals

Sales Enablement Best Practice Guide: Strategy and Tactics for Sales and Marketing Collaboration

About Heinz Marketing Heinz Marketing is a B2B marketing and sales acceleration firm that delivers measurable revenue results. Every strategy, tactic, and action has a specific, measured purpose. Instead of focusing on the activities, we focus on the outcomes. What really matters is sales pipeline, closing business and accelerating revenue. Want to learn more? Get in touch with us.

marketing@heinzmarketing.com

877-291-0006 www.heinzmarketing.com

Heinz Marketing Resources Heinz Marketing Blog LinkedIn Twitter

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