In recent years CEOs have commonly handed off digital to CIOs or have hired Chief Digital Officers to own the digital realm. But as veteran CIO Larry Bonfante wrote in a recent piece for Heller Search Associates, they’ve got it all wrong. For every company trying to transform into a digital enterprise there likely is a misunderstanding of what digital is and the right strategic approach for embracing it.
Are you ready for 2017?
Let’s talk about resolutions you can keep when it comes to upping your sales mojo.
Is CXO engagement a priority at your company? If so, you are probably having discussions about how to scale.
Successful CXO engagement programs are like drip irrigation. The goal is to deliver small, but highly relevant doses of insight to targeted CXOs based on what you know about them and their business. Over time, you build credibility and trust and earn the right to a deeper conversation, and, if all goes well, trusted advisor relationship status.
Every day we hear from sales leaders about how their sales teams are overwhelmed and under prepared when it comes to selling to C-suite decision makers. Given the vague directive to “do their homework,” many salespeople—and the sales enablement and field marketing teams that support them—tend to focus on things like contact information, org charts, and social media links. While these things are helpful and important, they are not adequate for preparing to have a business conversation with a CXO.
Before I started Boardroom Insiders I worked as a consultant to some of the biggest tech companies in Silicon Valley, helping them improve their return on investment in industry events.
There’s no escaping the fact that we live and conduct business in a social world. Harnessing social technology is clearly now a mandate for sales. The consumer sales ecosystem has known this for years. But how are B2B, and in particular enterprise B2B sales teams succeeding with social selling? While companies like Oracle and IBM are implementing social selling programs with great success, social selling evangelist Jill Rowley, in an article in ZDNet, says that most companies are actually in the infant stages of social selling as a concept, with the majority of firms only leveraging social media in random bouts and not training their sales staff to effectively exploit the network.
Enterprise sales teams struggling with CXO selling should take a page out of the management consultant’s playbook. Because of the transformational nature of most management consulting engagements, management consultants have always been visible and relevant to the C-suite.
Recently I came across an article called "Back To The Future In Enterprise SaaS Selling.” The authors make the argument that as SaaS companies mature, it is important that they acquire more "old school skills" to continue to grow. Specifically, they are talking about the skills to sell larger, enterprise deals.
One of the fundamentals of customer retention is that it generally costs organizations more to acquire a new customer than to keep an existing one. It’s not unusual to read about customer churn in areas like telecommunications and media, but for SaaS companies, minimizing your churn rate is critical, given the recurring revenue model and how much time, money, and energy it takes to acquire and onboard customers in the first place. The longer they stay, the more profitable your business is, which is why “Customer Success” (or making sure your customers have success as a direct result of using your product) is such a hot topic these days.
We preach a lot about the value of knowing as much as possible about your customer. Having deep insight into their goals and concerns is powerful. It helps you determine how your solutions can fit their business needs and how you can become their trusted partner. And, it doesn’t hurt if you can connect with the people themselves on a personal level.
That’s why we research and prepare executive profiles in such depth. It’s our goal to provide sales and marketing teams with as much solid, relevant information about each individual as is publicly available. Since we often get questions from our customers about how we do it, we thought it was time to show you how the sausage is made.