Understanindg b2b buyer to increase sales

Mary Malaszek 617.323.1862 617.669.4037 cell www.marektdirectionsmr.com mary@mktdirections.com

THE B2B BUYER

UNDERSTAND THE B2B BUYER KNOW THY CUSTOMER’s BEHAVIOR

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Contact Information Market Directions 200 Mount Vernon St. Boston, MA 02132

Mary Malaszek, Principal & Project Manager

P: C: TF:

617-323-1862 617-869-4037 800-475-9808

Email: mary@mktdirections.com WEB: www.marketdirectionsmr.com

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 Increase Sales  Understand trigger events that cause prospects

We Want to Understand To implement a successful project, understanding your business--- where

you have been and where you want to go--- enables us to deliver only the solutions your current business model can implement and sustain.

Before Market Directions begins your project, we ensure that we understand your full set of objectives to use them as a parameter for developing solutions.

to begin their purchase journey. 

Where do they go, who do they trust, what do they expect?

 Switch to sales and marketing model that

nurtures buyers through the correct channels 

Move from “Batch and Blast” and Cold Calls

 Understand market– the environment in which

your prospects and you do business.

 Testing of messaging to determine what works

and what does not work

 Identify the primary decision maker. 

May be different from what you think

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Current research by various research organizations identifies and personifies the B2B buyer. The research is deficient on its own in that it does not segment by industry, by size nor by other factors that may influence decisions.

However, it does provide a framework that may be useful in presenting your customers’ and prospects’ story.

A New Reality in B2B Marketing The next three slides present research by Google and Millard Brown on B2B buyers. Market Directions’ presents it in order to begin the conversation around clearly identifying, qualifying and quantifying your customers and prospects in an organized, precise and presentable format. This enables all your stakeholders to gain a clear picture of your perfect target.

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71% of B2B buyers begin research with generic terms--not brands.

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Positions with Authority and Influence Who has authority?

• 64% of the C-suite have final sign off – • almost a quarter (24%) of the non-C-suite have final sign off

Who has influence?

• Non C-suite --

• 81% of non- C-suite influence the final purchase decision.

The study does not segment respondents by company size.

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Whose responsible for B2B buying decisions?

B2B Buyer’s Age Demographic

Why its millennials, of course.

What the study does not consider is size of the purchase, i.e. does the same buyer have decision power over a million dollar purchase as a $10,000 purchase?

There is no longer such a thing as a simple cold call: customers expect a sales rep to be extremely knowledgeable about their business and their individual profile—especially millennials.

Google/Millward Brown Digital, B2B Path to Purchase Study, 2014

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Good Research 1.

Practicable

2.

Interesting

The Value of the Research • As a result of research: •

Adequate number of subjects

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Affordable in time and money

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Manageable in scope

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Getting the answer is intriguing

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Confirms, refutes or extends previous assumptions--- makes you want to know more

• Develop and support marketing strategic objectives • Make a case to support changes to the status quo • Confirm or refute assumptions about your customers • Map the path to purchase journey to determine what should be presented at which touchpoints.

• Build personas of your ultimate buyer.

3.

Relevant

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To Company’s sales force

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To management

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To those being studied

• Increase Sales

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What does all this mean?

Market Directions regards qualitative research as the most effective and powerful means for authentic understanding of the B2B buyer and their path to purchase.

Once your project is completed, you’ll have the knowledge to structure your sales and marketing so that customers will be able to move through the decision and purchasing process naturally and intuitively, without frustration, or abandoning the course.

This market research study must provide your marketing and sales teams with information in a manner they refer to and understand that gives them a thorough acceptance of the customer persona in order to plan timely contact, intervention and guidance that captures mindshare and, eventually, the sale.

We present the following slides which outline the ideal qualitative research plan with supportive CI and secondary research. Maximum results that achieve your objective--- to grow sales.

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Project Overview

Tangible Deliverables

Brief Overviews

Market Directions Proposes… …

A Secondary and Primary Qualitative Research Study

• Target Market Demographics • Competitive • Industry Literature Understand • Current and Target Customer Strategy • Sales Perspective • Marketing Perspective Digital Footprint • Social Listening • Competitive Footprint Review • Current Processes • Points of Contact • Messaging • Value Proposition Qualitative Interviews • Customers • Prospects

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Understanding the B2B Buyer— The established sales process is typically aligned to a linear sales funnel which misses the fluidity of today’s B2B buyer, especially in the technology sector. Some studies indicate that 60% of the sales process is complete by the time a prospect makes direct contact with the organization.

B2B companies across industries are moving toward path to purchase (Buyer Decision Journey) strategies. Decisive actions include: • identifying decision makers, influencers and users • charting decision journeys by customer segment • drilling down on customer expectations and needs at each stage of the journey • defining value from the buyer’s perspective by understanding how your current products/services and processes meet value expectations in respect to: • price • quality • reliable delivery • rapid response to changing needs Prepared by Market Directions

Path to Purchase

Defining value along their way.

Buyer Decision Journey

Buyer Persona

Understanding buyers perspective on value and what matters most to them in making their purchasing decision determines strategies and efforts that are likely to have the greatest impact on sales.

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Project Work Plan– Market, Competitive and Secondary Research

1. Define and Confirm Objectives 

Discussions with: • • • •

Management Salesforce Front line reps Others as appropriate

• Phase 1 ….

Prepare & Strategize

Competitive Landscape 3. Market Overview 4. Literature – Article- Publication Review 5. Marketing Message Review 2.

The above tasks provide Market Directions with a clear understanding of your organization how you work, sustainability of recommendations and the environment in which you conduct business.

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Project Work Plan - Interviews 

Identify and Selection Interview Respondents •

Who do you need to talk to?

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Prepare Finalize Interview Guide

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Active Recruitment •

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Recruit only appropriate respondents, that look like and have same authority as current customers.

Administer, Recruit, Implement & Report

Schedule & Conduct Interviews 

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• Phase 2….

Record Interviews

Deliver Results • •

Meaningful  Our recruitment is successful– we deliver as promised Formatted for Audience

Ensure Ethical & Quality Standards

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The keys to the success of the interviews are based upon a strong foundation.

The results Market Directions delivers answers your questions only if the interview guide reflects back to your original goals and objectives.

Additionally, recruiting is the most important and difficult aspect of the qualitative interview process.

Contacting the correct respondents who are reflective of your current and target customers is the only way to ensure meaningful results.

Respondents  We qualify the respondent so that the conversation is with the correct person– correct level and industry   

decision makers, influencers and users

 Prior to implementation, we understand who the respondent is so that we can format questions that are targeted to his/her experience.  Make clear to respondent survey length and incentive terms (cuts down on abandonment)

Interview Guide  Develop questions that  are clear, specific and relevant  focus on current attitudes and recent behavior  do not have vague quantifiers, such as frequently, usually or regularly  contain demographics

 Interviews are conducted as conversations…  Typically we interview high-level executives, conversations are more appropriate, than how likely, mostly agree, etc.

 Have large enough list to ensure quotas are met.

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Project Work Plan – Social Listening 

Social  Use Market Directions Social monitoring platform. 

Determination of key concept reach For Your Organization  For Competitors (3) 

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Social Data Can Help •

Discover trending topics & preferences to inform more-targeted content

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Learn who your audience (or your client’s audience) is, and what they care about

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Provide your prospects with deep insights about their brand and competition

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Social media can gauge purchase intent

• Phase 3….

Are you engaging customers and prospects across digital platforms?

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Project Work Plan – Feedback Process  Continued Monitoring,

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Testing and Reporting

 The information collected has

to “make something happen”  Win/Loss Implemented  Feedback from Front lines  Feedback from customers

Phase 4….

As a result of the project you will understand your customers and prospects. Implementing a feedback process will assist in continued momentum of sales and marketing goals and objectives.

 Test to see if change is

noticed by customers and employees.

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Market Directions Qualifications About Market Directions How We Work

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About Market Directions •

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Experience • • •

15 plus years in business as market research firm 20 plus years analytical and marketing experience by owner Developed and trained associates

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Published results at conference Consistent measurements of delighted customers by outside firm Data Reported to Congress Expert Testimony

Firm Identification •

Market Directions provides a full range of research - primary and secondary, qualitative and quantitative, locally and nationally. We are capable of managing all phases of marketing strategy and market research projects from conceptual design through implementation. We listen to our clients, consult and apply our expertise to deliver data, strategies and clarity.

Process

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Our strength in the marketplace is our dedication, and responsiveness to customer’s needs. Your results include the development of concise, easy to understand information, giving you the ability to integrate relevant information into your strategic decision-making process. We guarantee our client’s satisfaction with our work.

Tools

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We offer superior professionalism, responsiveness, expertise, flexibility and cost effectiveness.

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Our Process: The Market Directions Experience

Mastery

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Quality assurance is provided throughout Control the process Accountable and Responsible Communicate with Yottaa on progress throughout Deliver results on time and within budget Match costs and information value

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Virtual Recording and Transcribing Call Center Relationships List Broker Relationships Professional Interviewers--- not telemarketers

Market Research Expertise and Technical Ability • •

PhD level statisticians Highly trained staff

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A proprietary multi-step process that produces superior results by using a series of internally-developed best practices revised over a 20 year period.

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What to expect when working with Market Directions Trusted Partner • We become a true partner and trusted advisor • We are dedicated, collaborative and consistent in handling all aspects of your project.

• We immerse ourselves in our clients’ brands, markets and business situations.

• We work closely with key personnel, holding frequent information and formal progress reviews.

• How we make it work • We assist you by listening and focusing on your goals • We evaluate the current data, examine problems and bring critical insight.

• We recognize when you need more information and suggest methods and strategies for further research.

• Of course, respectful of your time and budget.

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7/26/2016

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Our client’s results Our clients…. become customer focused because they discover the “who, what, when, where, why and how.” respond confidently and effectively to changes in their competitive environment. implement new products and features based on sound data collect. provide better customer service based on user experience. increase sales.

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Project Flow – Time Frame – Eight Weeks Understand, Business & Objectives

Review of current assets and processes

Secondary Research Market Competitive

Report and Analysis

Qualitative Interview Process – Develop Interview Guide (IDI)

Identify and Recruit Respondents Prepared by Market Directions

Conduct Interviews

Social Listening and Data

Recommendations, Analysis, Report, Conclusions 21