How New Sales Enablement Tactics Will Speed Up Enterprise Product Sales
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Product Managers and Product Marketing Managers depend on sales enablement tools to ensure that sales teams have the right training and messages to make the most of their product opportunities. Download white paper: http://startupproduct.com/contondo However, when introducing new products or features to market, sales enablement often fails - resulting in an under-performing product launch or sluggish product. This failure can be signified by the following symptoms: 1. Unable to build confidence to overcome sales' reluctance to sell the new product 2. Competitors annihilate the first attempts to create a market segment 3. What seemed to work for some teams does not scale for other teams Overcoming these challenges has a lot to do with what PMs and PMMs choose to do at the early stages of product introduction. In this webcast you will learn: 1. How to uncover unproven assumptions that can poison motivation when going to market 2. How to deal with uncertainties within the sales force 3. How to overcome sales aversion to selling the new features and products 4. How to deal with lack of competitive information and references
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How New Sales Enablement Tactics Will Speed Up Enterprise Product Sales
- 1. © AIPMM 2014 www.aipmm.com AIPMM Webinar Series www.aipmm.com
- 2. © AIPMM 2014 www.aipmm.com
- 3. © AIPMM 2014 www.aipmm.com Hashtags #AIPMM #ProdBOK Follow AIPMM @AIPMM Product Mgmt Talk: @ProdMgmtTalk Contondo @Contondomedia Tweet!
- 4. © AIPMM 2014 www.aipmm.com Participants get access to a free download of the brand new 2014 whitepaper : Sales Enablement Tactics for PMs and PMMs Participate and Win!
- 5. © AIPMM 2014 www.aipmm.com Today’s Speakers Moderator: Cindy F. Solomon, CPM, CPMM Founder, Startup Product Academy Presenters: Assaf Litai Aviv Ben Zeev Co-founders, Contondo Inc. www.contondo.com
- 6. © 2014 Contondo Inc. Sales Enablement Tactics for PMs and PMMs AIPMM / CONTONDO / STARTUP PRODUCT ACADEMY
- 7. All participants will receive an early version of our new white paper: “Sales Enablement Tactics for Product Managers”. Participate and Receive!
- 8. Empowering product managers to drive sales. The Contondo toolkit helps you establish sales momentum for your new product. About Contondo
- 9. Aviv Ben Zeev - Aviv Ben Zeev has over 15 years' experience working for large, global, high-tech companies in various engineering, sales and sales-management positions. Assaf Litai - A seasoned entrepreneur, Assaf has over 20 years’ experience defining, developing and selling various B2B products to mid and large scale enterprises globally. About the Speakers
- 10. An Imaginary Scenario The Keys to Early Sales Enablement 5 Common Traps During Early Sales Enablement Avoiding the Early Sales Enablement Traps (for PMs) – A Demo Using Contondo Summary and Q&A Agenda
- 11. Mike is a PM that was getting a new product to market Working with PMMs, he developed stellar messaging and executed a GTM strategy: Created presentations Produced product sheets Updated all the portals Worked on a sales enablement process and playbook Sent out emails 6 months after launch, of 30 sales teams, only 12 teams sell the product consistently An Imaginary Scenario (but based on many real stories…)
- 12. Mike is a PM that was getting a new product to market Working with PMMs, he developed stellar messaging and executed a GTM strategy: Created presentations Produced product sheets Updated all the portals Worked on a sales enablement process and playbook Sent out emails 6 months after launch, of 30 sales teams, only 12 teams sell the product consistently Mike the PM asks: Looking back, what could I have done differently to improve the sales of my product? An Imaginary Scenario (but based on many real stories…)
- 13. Definition: “The delivery of the right information to the right person at the right time and in the right place necessary to move a specific sales opportunity forward.” – IDC, 2009 Sales Enablement is usually on your go-to-market timelines In early stages it is imperative that sales enablement - - Enable product sales (the obvious) - Avoid the traps that poison sales motivation (the hidden killer) The Keys to Early Sales Enablement Key Takeaway:
- 14. 5 Common Traps During Early Sales Enablement Sales Enablement Tactics for PMs and PMMs…
- 15. Assumptions – often a necessary evil. But, sales teams can’t differentiate proven facts from unproven assumptions. Misleading assumptions can kill sales momentum and motivation. Trap 1: Assumptions “When you ASSUME, you make an ASS out of U and ME” – Oscar Wilde
- 16. “Customer qualification”: determining likelihood of success before resources are spent No customer qualification criteria means shotgun sales approach – i.e. targeting wrong opportunities The above will result in: Product won’t solve customer’s problem Trip on traps set by competitor Heavy discounting Motivation for future sales is poisoned due to opportunity cost – Missing quota and wasted resources Trap 2: Lack of Customer Qualification
- 17. New products are accompanied by canned messages Canned messages often fail because they are: Unfocused - on the target audience Unfriendly –for both sales and buyers Of unclear value – when attempting to align with buyers requirements Trap 3: Using Canned Messages
- 18. Managing referential and competitive data: Difficult to collect, classify, tag and distribute. Doesn’t happen by itself (email…) The outcome: Can’t leverage anecdotal evidence across different teams Can’t learn quickly about competitive situations Trap 4: Mismanagement of Referential and Competitive Data
- 19. Trap 4: Mismanagement of Referential and Competitive Data Managing referential and competitive data: Difficult to collect, classify, tag and distribute. Doesn’t happen by itself (email…) The outcome: Can’t leverage anecdotal evidence across different teams Can’t learn quickly about competitive situations Mike the PM asks: What are the best tools to manage referential and competitive data for new product and feature introduction?
- 20. “Collateralizing” knowledge in nascent product stages: Misleading assumptions become pervasive Good information stales quickly Information Explosion (e.g. frequent updates) Messaging consistency issues (e.g. field attempts to make data relevant) Collateral serves as a crutch, freezing mistakes and failing to convince customers to buy Trap 5: Collateral Dependence
- 21. Trap1: Assumptions Trap 2: Lack of Customer Qualification Trap 3: Using Canned Messages Trap 4: Mismanagement of Referential and Competitive Data Trap 5: Collateral Dependence Recap: List of Traps
- 22. Tips for Avoiding the Early Sales Enablement Traps (Demo) Sales Enablement Tactics for PMs and PMMs…
- 23. Contondo Demo Mobile Sales Enablement Mobile and offline access to new product messaging is a must for sales and SE that work in the field. Tip: A Sales and SE friendly UX solicits field participation. Field users have little patience for VPNs and extraneous clicks. Tip:
- 24. Contondo Demo Scenario Based Messaging Knowledge portal should be set up like Sales and SE think - in terms of opportunity scenarios. Tip:
- 25. Contondo Demo Scenario Based Messaging
- 26. Contondo Demo Scenario Based Messaging
- 27. Contondo Demo Scenario Based Messaging
- 28. Contondo Demo Scenario Based Messaging
- 29. Contondo Demo Scenario Based Messaging System should recommend additional helpful data. The scenario as selected by the salesperson or SE Data should be sorted based on the relevancy to the scenario. Tip: Tip:
- 30. Contondo Demo Handling Assumptions Always track your unproven assumptions and mark them as such. Tip:
- 31. Contondo Demo Handling Assumptions Sales and SE are prompted to corroborate assumptions by voting helpful or participate by editing the wiki message
- 32. Contondo Demo Customer Qualifications Create customer qualifiers that minimize the opportunity cost by ensuring the teams win the early deals and avoid wasting resources. Tip:
- 33. Contondo Demo Customer Qualifications Gamification (e.g. vote trophys and badges) helps encourage Sales and SE contribute data (such as qualifiers) Tip: SE are your product’s best representatives; Integrate your Knowledge Management with the SE mailing list Tip:
- 34. Contondo Demo Managing References and CI Getting early feedback from the field should be as easy as 1-2-3 Tip:
- 35. Contondo Demo Managing References and CI Your systems should share referential and CI feedback instantly with all users. Tip:
- 36. Contondo Demo Managing References and CI Your systems should share referential and CI feedback instantly with all users. Tip:
- 37. Contondo Demo Managing References and CI All data must be catalogued for scenario relevancy (In this case CI) Your systems should share referential and CI feedback instantly with all users. Tip: Tip:
- 38. Contondo Demo Managing References and CI Your systems should share referential and CI feedback instantly with all users. Tip: All data must be catalogued for scenario relevancy (In this case CI) Tip:
- 39. Contondo Demo Managing References and CI Your systems should share referential and CI feedback instantly with all users. Tip: All data must be catalogued for scenario relevancy (In this case CI) Tip:
- 40. Summary Early sales success is critical for sales motivation Try to avoid deal loss by insisting on proper qualification Mark all unproven assumptions SE are the product’s main representatives Keep on top of requested scenario material Redistribute referential and CI instantly Focus on tailored messaging rather than on producing collateral Work on honing your canned messaging ASAP Think small sized, scenario relevant, messaging in their pockets (mobile) Key Takeaways:
- 41. Q&A About Contondo: Contondo provides an innovative knowledge management system tailored for PM and PMMs empowering them to drive sales for their products. For more information contact us at: assaf@contondo.com aviv@contondo.com Twitter: @ContondoMedia Facebook: https://www.facebook.com/ContondoMedia Linked-in: http://www.linkedin.com/company/contondo Website: http://www.contondo.com
- 42. © AIPMM 2014 www.aipmm.com Q & A Moderator: Cindy F. Solomon, CPM, CPMM Founder, Startup Product Academy Presenters: Assaf Litai Aviv Ben Zeev Co-founders, Contondo Inc. www.contondo.com
- 43. © AIPMM 2014 www.aipmm.com New white paper “Sales Enablement Tactics for Product Managers”. Download Whitepaper http://startupproduct.com/contondo/
- 44. © AIPMM 2014 www.aipmm.com Athens, Greece Belgrade, Serbia Athens, Greece Follow the links above for more information, or contact: certification@aipmm.com. Upcoming AIPMM Courses
- 45. © AIPMM 2014 www.aipmm.com Belgrade, Serbia Upcoming AIPMM Courses Follow the links above for more information, or contact: certification@aipmm.com.
- 46. © AIPMM 2014 www.aipmm.com Upcoming Courses Course & Location Dates Days Time CPM® Certification Prep Course & Exam Seattle, WA May 5-6, 2014 M, T 8:30 am – 5 pm CPMM® Certification Prep Course & Exam Seattle, WA May 7-8, 2014 W, Th 8:30 am – 5 pm ACPM® Certification Prep Course & Exam Seattle, WA May 9, 2014 F 8:30 am – 5 pm For more information, contact: hmdelcastillo@aipmm.com.
- 47. © AIPMM 2014 www.aipmm.com Please Join Us Again! Innovate for Growth and Price for Profits Mar 14th, 12 pm ET 9 Things Exceptional Product Team Managers Do March 21, 12 pm ET Improve Product Design Through Gamification Mar 28th, 12 pm ET AIPMM Webinar Series: http://aipmm.com/aipmm_webinars Global Product Management Talk http://www.blogtalkradio.com/prodmgmttalk Announcements: http://www.aipmm.com/subscribe Call For Speakers: http://www.boldpm.com/call_for_speakers LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/
Notas do Editor
- AIPMM offers globally recognized certifications for product managers, product marketing managers and brand managers.Certified Product Manager (CPM), Certified Product Marketing Management (CPMM) and Agile Certified Product Manager (ACPM). Certification requires obtaining a college degree, minimum one year of experience, and passing a certification examination.
- Aviv and I have years of experience creating B2B software and hardware products and bringing them to market. In our experience Everyone wants a repeatable sales process that exploits the opportunity for their products. Some succeed fantastically, Some fail miserably,But the majority of us live somewhere in the middle – Products sell, but are difficult to sell, sales teams complain, missing features, hard to beat competition, etc.In extreme cases company restarts are favored where existing sales teams are purged and replaced with others – that either sell or fail.
- Mike did almost everything right.His product did sell, so it did meet customer expectations.But not all teams did as well. There was no uniformity in the success of the teams.
- Question:Looking back, could Mike have done anything different to improve the sales of his product?Answers:Nope. Fire the bad sales people. Do more/better outbound marketingTalk to customers moreImprove thesales enablement process Give bigger discountsDiscussion:When sales motivation becomes poisoned, it is much more difficult to rebuild confidence. Sometime firing them is the only way to proceed. If your product is luck enough to be strategic it might be the decision of management. Let’s try to avoid this…In this case the product does sell. Assume we analyzed the information and it wasn’t regional in nature… Again, in this case the product does sell. Perhaps Mike needs to be in front of customers to sell (that is to say do the Sales and SE’s job…).Possibly the biggest ROI – help the Sales and SE be more proficient at selling the product – we’ll discuss how in the next slides.Discounts discounts discounts…. Price is the easiest to blame. But in typical B2B sales scenario secondary to TCO, Perceived Value, Suitability of Purpose, etc.
- IDC said it well. We just plagiarized.The IDC definition focuses on the right message, the right person and the right time; Get one of these wrong (wrong person, wrong message, wrong time) and you are setting yourself for failure. And failure should not be an option.I searched for B2B centric Go-To-Market kits that did not have Sales Enablement (or its sibling – Sales and SE Training) and found none. SO we all know that getting sales to sell is important.Key takeaway here is that:It is not just important to teach them to sell.Don’t allow them to fail. Make them win the first deals. Once they have a few successes then they can fight it out with the big boys. Build their confidence and don’t let them fail.
- These are common.We’ve seen these everywhere we worked. Some teams are better than others.As sales managers and PMs - Were we to blame for some of this?We believe so.
- Being Product Managers, almost everything we do is based on assumptions that customers:Have a painThe pain is acute enough to want a new productOur product will ameliorate the pain (or at least appear to) The customer will put 2 and 2 together and buyThere are many more assumptions made during development…We try to get proof. We market research, conduct interviews and etc.But some (many) assumptions remain unproven. These can blow up when a sales team assumes they are proven and position them as absolutes.Early sales failure kills momentum and can kill our fledgling product.
- Wherever I worked qualification was a battle; everyone wanted a “shotgun approach”: long lead lists and a huge funnel.Everyone was also disappointed when conversion rates between leads to opportunities to closure was single digit or very low two digits.It didn’t just make Salesforce reports look bad – it killed sales motivation. It is better to have ten closable deals than have sales chase 100 leads of which 12 are closable. That will end up with sales closing very few, with heavy discount, and lack of motivation to continue.
- Canned messages are the first messages we write at the office. Usually, they require a great deal of honing to become effective.Unless progressively honed and shared, (in a virtuous cycle) sales will ultimately create and use their own versions.
- After launch it usually takes a rather long time to get references and create a good arsenal of competitive tactics in the field. At this stage every little bit counts. Instantly sharing competitive insights and anecdotal stories helps other teams win deals.
- Mike the PM asks: What are the best tools to manage referential and competitive data for new product and feature introduction?EmailCRM Reports Phone calls Portals ChatterNone of these tools work very well
- In this day and age collateral is king. PDF, Word,PowerPoint, ExcelFor new products, this approach can backfire as misleading data becomes pervasive and detrimental to the early sales effort.
- In this day and age collateral is king. PDF, Word,PowerPoint, ExcelFor new products, this approach can backfire as misleading data becomes pervasive and detrimental to the early sales effort.
- 1. Configure your knowledge management system so that searches that do not produce good results trigger an automatic flag for your product’s PM.2. Mention that this is a title view