SiriusDecisions - Death of the B2B Rales Rep?- An Interview with Jim Ninivaggi on Sales Enablement and Effectiveness Research and Trends
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Several analyst firms have predicted the "Death of the B2B Sales Rep", with their research indicating how sales reps are engaging later and later in the sales cycle, when the decision is already 57% complete , and that over 1 million B2B sales reps will be in search of new jobs in 2020. Are these findings accurate? What can you do to stay ahead of the curve? In this “myth busting” interview, Jim Ninivaggi, the Sales Enablement Practice Director for SiriusDecisions will discuss their latest research of 1,000 B2B buyers, to separate the fact from fiction and provide specific guidance on what you need to do now to remain relevant and effective. Tom Pisello, the ROI guy and author of The Frugalnomics Survival Guide, will be asking Jim the tough questions you need to know, about the disparities in the research, and why there is a new movement underway to #SavetheB2BSalesRep.
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SiriusDecisions - Death of the B2B Rales Rep?- An Interview with Jim Ninivaggi on Sales Enablement and Effectiveness Research and Trends
- 1. Death of the B-to-B Sales Rep? Jim Ninivaggi Practice Director, Sales Enablement jninivaggi@siriusdecisions.com @jninivaggi @SiriusDecisions www.siriusdecisions.com Dan Sixsmith VP, Value Consultant dsixsmith@alinean.com @AlineanROI www.alinean.com
- 2. The Mythology of B-to-B Buying? 67% 57% One Million of decision cycle complete before sales reps are engaged (CEB) of the buyer's journey is now done digitally (SiriusDecisions) B2B sales reps will lose their jobs by 202 (Forrester)
- 3. 2015 B-to-B Buying Study Buyer Role Types (self-identified) Decision makers………………….... .46% Influencers……………………………..54% Purchase Occurrence <30 Days………………………………..51% <90 Days………………………………..35% <180 Days……………………………...14% Previous Experience Novice…………………………………….14% Experienced…………………………… 86% 1,005 Total Responses 26% 22% 19% 18% 15% Less Than $50M $50M-499M $500M-999M $1-3B $3B Plus 70% 30% A proprietary survey where responses were collected via a rigorously qualified panel of b-to-b executives; all respondents are verified Industries Healthcare 8% High Tech 20% Information Services 10% Manufacturing 25% Media/Ent 2% Retail 3% Telecomm 4% Other 7% Automotive 2% Government 2% Financial 14% Transportation 1% Higher Ed 2%
- 4. The Process of Decision Making? Decision is made that there is a reason for change Decision is made on the approach on how to change Decision is made on the vendor of choice Education SelectionSolution Period of Status Quo The buying entity is not a current client of any provider Period of Competitor Experience The buying entity is a current client of a competitor Period of Customer Experience The buying entity is a current client Why? Why? How? How? Who? Who? SiriusPerspective: Decision making is a cognitive process defined by psychologists as the selection of a course of action from multiple alternatives.
- 5. Independent Agreement among Individual(s) Less than $50K Less than 8 Weeks 1-2 1-2 Consensus Agreement across teams, functions or departments $50-$500K 1-2 Quarters (but no more) 3-4 3-5 Committee Agreement at the executive leadership level $500K- $Millions 1-2 Quarters (or more) 5 (or more) 6-10 (or more) Types of B-to-B Buying Scenarios? Source: SiriusDecisions 2015 Buying Study Scenario Decision Orientation Typical Price Range Typical Timeframe Buying Centers Colleagues B-to-B buying behavior clusters into three types of scenarios that must be considered when designing a go-to- market strategy.
- 6. Digital vs. Sales Reps? Source: SiriusDecisions 2015 Buying Study 6 8 9 5 6 8 CommitteeConsensusIndependent B-to-B Buyer Interactions Non-Human Human SelectionSolutionEducation Sales Rep Interactions 49% 62% 67% 42% 56%55% 38% 53%54% Independent Consensus Committee Independent Consensus Committee Independent Consensus Committee Percentage of the 1,005 respondents who reported that they or someone from their organization received information from the sales representative from the winning provider organization (vendor) to help inform their decision at that phase.
- 7. The Influence of Sales Reps? Education Q. You said you met with a representative from the winning provider at this phase. What was the impact of the interaction with a sales representative from the winning provider? Source: SiriusDecisions 2015 Buying Study Not only do buyers interact with a sales representative in all phases of the decision-making process, but those interactions are also positive. Solution Selection Very Positive Somewhat Positive
- 8. Sales Reps Value Compared to Other Team Members? Source: SiriusDecisions 2015 Buying Study
- 9. Most Impactful Content? Q. What do you recall were the content assets that you or your colleagues considered meaningful or impactful during each phase? 0.33 0.33 0.27 0.26 0.18 0.18 0.17 0.16 0.15 0.13 0.11 0.1 0.09 0.08 Sales presentation Analyst report Case study Articles/ publications Static brochure Promotional video Interactive brochure None of the above Infographic Blog post Webinar replay E-book PodcastWhite paper Source: SiriusDecisions 2015 Buying Study Up & Coming – Interactive & Value Centric Dynamic White Papers Diagnostic Assessments ROI / TCO Calculators Interactive Infographics Dynamic Storytelling
- 10. Top Challenge for Sales Quota Performance? Enough Leads? Social Selling Capability? Sales Training? Top Issue: Articulating Business Value SiriusDecisions - 2014 Product Knowledge?
- 11. Make Sales Reps More Valuable? Traditional Sales & Marketing Prospects ValueProduct Value Messaging Value Tools Value Training & Coaching Productivity / Process Improvements Revenue GrowthRisk Avoidance StrategicTactical Indirect Direct Cost Savings + +
- 12. Get the Book:
- 13. Death of the B2B Sales Rep? Jim Ninivaggi Practice Director, Sales Enablement jninivaggi@siriusdecisions.com @jninivaggi @SiriusDecisions www.siriusdecisions.com Dan Sixsmith VP, Value Consultant dsixsmith@alinean.com @AlineanROI www.alinean.com
Editor's Notes
- There has been a lot of research published recently by different analysts over the apparent “death of the B2B sales rep”, specifically how digital is disintermediating the rep. Can you tell us about these metrics and what they say about the future of B2B selling?
- Obviously, if true, these metrics would have an incredible impact on most B2B solution providers sales organizations and individual careers. So SiriusDecisions set out to see if indeed this research was true …. That B2B sales reps matter more than ever, or are indeed going extinct?
- So tell us a little about the findings … first, that there is a complex decision process that the buyer goes through?
- And within this process, the SiriusDecision research highlighted that there are essentially 3 distinct types of B2B buying scenarios?
- So as we look at the buying scenarios, what do we see between buyers who are influenced by digital vs. sale reps? And what about interactions when we look at the decision making process …. Sales reps turn out to be very influential throughout each phase, but especially for the winning B2B vendor early in the cycle, as opposed to what many of the myths perpetuated?
- So within this process and in these different buying scenarios, what role does sales play and what kind of influence to they have over the decision making?
- And when compared to other representatives from the selling organization, sales reps are highly valued, as are subject matter experts?
- We know that content helps – whether through digital action, or to help empower sales reps to have a better conversation. When it comes to content, what are the most impactful to the decision making process and where should you potentially invest more or less? The thought is that content is not an interaction, it is a container … but what about interactive content like interactive infographics, dynamic white papers, interactive storytelling, diagnostic assessments, cost of “do nothing” calculators, benefits estimators and ROI / TCO calculators …. The sales rep can use it to guide the customer conversation, and marketers can provide it to buyers, so they can create their own journey, providing information to questions and getting personalized research, insights, storytelling, financial justification and next steps… so the results indicate that interactive, value-focused content is on the rise and could be a great competitive edge?
- So how do we overcome this quota issue and make sales reps more valuable?
- As a roadmap to best design, develop and apply value messaging, tools and training, I definitely recommend the going to Amazon and picking up The Frugalnomics Survival Guide – How to Use Your Unique Value to Market Better, Stand Out and Sell More…… it may be the best $20 you spend all summer …. Jim, I believe you are featured in this book discussing much about the importance of value selling and sales enablement?
- Jim, thank you so much! So let’s turn it over to Mark and see what questions our audience had …. Mark