McKinsey's Jennifer Stanley goes beyond the latest research about when to use digital and when not to. Digital might be the answer, but what is the question? Clearly digital is a game changer for sales organizations that do it well and are in the lead. B2B players that embed digital in their go-to market programs grow >5x faster than their peers and have 30% higher acquisition efficiency.
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Sell the buyer’s way.
J e n n i f e r S t a n l e y | M c K i n s e y & C o m p a n y
B2B Digital Sales
@JenStanley3 #QuotableSummit #DF17
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Digital sales is increasingly complex
“ M o n o - c h a n n e l ” “ M u l t i p l e c h a n n e l s ” “ M u l t i c h a n n e l ” “ M u l t i - t o u c h ”
IDENTIFY BUY
TRIGGER
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What we found: buyers want human AND digital
I m p o r t a n c e o f
“ d i g i t a l ” m e a n s
I m p o r t a n c e o f
“ t r a d i t i o n a l ” m e a n s
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SPEED
No "one click" or shortcut offering
Unable to make one-time changes
Takes too long to get answer
Troubleshooting too slow
Sales rep does not follow up
Cannot compare products
Slow turnaround time
Difficult to contact live person
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TRANSPARENCY
Changing prices
Product return difficult
Product use restricted
Supplier does not inform me of
problems
Unable to store RFP communications
Cannot easily see prices
Hard to compare across products
Difficult to compare new products to
what I already use
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EXPERTISE
Troubleshooting is slow
Sales reps don’t follow up
Supplier does not check in with me
Information not tailored to me
No single point of contact
I do not understand products / services
Recommendations don’t apply to me
No expert review of purchase
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Digital as a channel in omni-channel go-to-market
SOURCE: Digital Quotient Database, B2B CDJ Digital Research,
interviews with industry experts, SaaS McK benchmark database,
Channel in the Digital GTM age, Sales Growth 2016 Survey
3-4%
growth achieved
~0%
growth market
in a
90%
were to new
customers previously
un-addressable
CAGR for products
sold through site
within 18 months
600%
90%+
of dropped by
in support calls
Increased
customer
satisfaction
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Case study: SMB digital only offering
SOURCE: Factiva, company websites, Grainger Annual reports + Factbook
1 in 5
Grainger orders
placed on a mobile
device are picked up
in-store
E-commerce
comprises 40%
of total sales and
accounts for 94%
of growth in year
launched
94%
40%
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Case study: Digital as an enabler to account managers
new revenue
video impressions
qualified leads
customer testimonials
Video-based
product test drive
for processor card
Increase customer
engagement through
digital channels
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Case study: Digital sales + human support
B2B enterprise
software company
that offers free
functionality to users
Provides in-depth support,
including a user-friendly
training program
customers spend
>$50K in 2015
revenue growth in 2014
marketing and sales
expense
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Monday morning action items
RETHINK how you deal with
customer issues
PLAN FOR digital tools as part of
your customer interactions
FIND OUT when your customers
want to talk to you
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jennifer _s tanley@mckinsey.com
J ennifer Stanley
@ jens tanley3
STAY CONNECTED
JENNIFER STANLEY
Par tner & Leader in
Mc Kins ey’s Sales For c e
& C hannel Management
Pr ac tic e
Mc Kins ey on Mar k eting and Sales
@JenStanley3 #QuotableSummit #DF17