170131 sales and marketing alignment mass tlc public, clint poole, lionbridge
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Clint Poole, CMO of Lionbridge presented at MassTLC's CMO peer group, on Marketing and Sales Alignment.
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170131 sales and marketing alignment mass tlc public, clint poole, lionbridge
- 1. Marketing and Sales Alignment Mass TLC CMO Peer Group
- 2. Today’s Conversation • Outline the Lionbridge Marketing and Sales journey towards alignment • Four focus areas: 1. Account Seg and Strategic Planning 2. Revenue Commitments & Demand Gen 3. Message Management
- 3. Our Global Reach • Market leader in language, global digital and technical writing services • 6,000+ Employees • 50 offices in 27 countries • $560 million annual revenue (2015) • Clients across 10 industries • Over 800 brands served • 64 of Interbrand’s Best Global 100 Brands • Supporting 380 languages for 100+ markets
- 5. SBI Proprietary & Confidential. All rights reserved. 52/1/2017 ENVIRONMENTAL SCAN OF CURRENT STATE Process Planning Strategy Support Execution Organization
- 6. Why Focus on Better Alignment? • Internal mission to become more customer-centric • Focus on increasing organic growth • Focus on profitable revenue
- 7. Our First Hurdle: Aligning Around The Journey
- 8. 10/29/2015 Sales call Hybrid Journey Customer: NA-based FiServ Total Purchase Cycle: 15 months Bookings value: $500k 12/7/2013 3/1/2016- Closed-W 11/05/2015 Sales Email 11/01/2015 Proposal 12/18/2015 – 3/1/2016 Sustained sales correspondence /discussion 1/4/2014 Sales call: No direct contact 12/11/2013 Campaign Email 1/23/2014 Campaign Email 4/15/2014 Sales call: No direct contact 7/18/14 Attends Webinar 8/7/14 Campaign Email
- 9. Hybrid Journey Customer: EUR-based CPG Total Purchase Cycle: 23 months Bookings value: $350k 4/24/2014 3/21/2016- Closed-W 10/9/2014 Campaign Email 11/10/2014 Campaign Email4/24/2014 Attends Event 8/5/2014 Campaign Email 4/25/2014 Sales Email 6/18/2014 Sales Email 9/16/2015 Sales Email 12/10/2015 Proposal 12/14/2015 – 3/10/2016 Sustained sales correspondence /discussion 5/30/2014 Sales call: No direct contact
- 10. The Perception Gap: Who Does What? Not in the Market Stimulated Problem Definition Options Evaluation Final Recommendations Execution Marketing Sales Not in the Market Stimulated Problem Definition Options Evaluation Final Recommendations Execution Marketing Overlap Then Now Sales
- 11. Where We Decided to Focus Drivers of Sales-Marketing Alignment: • Common objectives • Joint planning • Account segmentation • Messaging • Demand Gen • SLAs • LDRs • KPIS and ROI • Analytics • Tech stack • Closed-loop feedback • Education
- 12. Account Seg and Strat Planning
- 13. 13 ACCOUNT SEGMENTATION IS THE FOUNDATION FOR SALES & MARKETING SUCCESS Quota Setting Territory Design Talent Management Compensation Account Prioritization & Coaching Demand Generation, Lead Management Lionbridge Account Potential
- 14. 14 ACCOUNT SEGMENTATION WILL PRODUCE A PRIORITIZED UNIVERSE OF CUSTOMERS AND PROSPECTS Account Score Propensity-to-Buy Factors Growth & Predictive Factors (Y-o-Y Growth %) Ideal Company Profile Factors Firmographic Factors (Revenue/Employee size) Account Potential Segment Potential – Over all spend of other similar companies - Industry standards - 80th Percentile of current spend - Share of Wallet - % of spend that LIOX has L M H H M L Potential Pursue Prioritized Deprioritized Prioritized Accounts “Who should we pursue?” “How much can they spend?” “Where should all resources (people, money and time) be allocated?”
- 15. What We Learned
- 16. SBU Planning Process • Breaks-down planning into more manageable efforts • Joint Accountability • Iterative Process – Provides opportunity for each side to challenge assumptions – Ensures we are being data- driven
- 17. Go Forward • Joint GTM Planning Process • Refresh Account Seg data (Marketing) • Refresh ideal customer profile (Marketing) – Leverage Predictive Analytics • Ranking priority accounts (prospect and existing)(Sales) • Negotiate Marketing programs/support by SBU (Sales, Marketing) – ABM programs – Lead Development alignment
- 18. Revenue Commitments & Demand Gen
- 19. The View of Demand Generation Sales Marketing
- 20. 202/1/2017 202/1/2017 BUILDING TO TARGET CONTRIBUTION 0% 17% 25% 30% 8% 17% 3% 8% 17% 25% 0% 5% 10% 15% 20% 25% 30% 35% Baseline 12-months 24-months 36-months Marketing Contribution % of Sales Opportunities Lionbridge Goal Lionbridge Actual B2B Benchmark Nov 2016 Nov 2017 Nov 2018Nov 2015 TBD TBD 75% 25% Sales Marketing When starting from a zero baseline, the average b2b marketing team requires 3 years to maturate to 25% %ofSalesOpportunities
- 21. Aligned on Commitments • MKTG signs-up for revenue commitments • Specific funnel targets based on previous performance • Drives SBU discretionary budget
- 22. Measurement and Reporting Activities/Tactics Demand Gen Performance Cost-effectiveness Personnel Field Marketing, Sales teams Sales Leaders, Demand Gen leader, CMO, GM GM, CMO Cadence Weekly, Bi-weekly Monthly Quarterly Metrics • Overview of activities • Review of lead data MKTG performance against targets: • Revenue • Close rates • Pipeline • Conversion rates • Leads • Velocity MKTG ROI: • Cost/ • Investment to Pipe, Investment to Rev • Avg. Opp Size • Sales performance • CAC
- 24. #1 Reason Reps Don’t Make Quota Inability to articulate differentiated value in front of the customer
- 25. The Perception Gap: Who Does What? Not in the Market Stimulated Problem Definition Options Evaluation Final Recommendations Execution Marketing Sales Not in the Market Stimulated Problem Definition Options Evaluation Final Recommendations Execution Marketing Overlap Then Now Sales
- 26. We needed a different approach • This is a radical change of approach for many Reps • Scripted sales conversations have not been a Lionbridge tradition • Product knowledge is uneven • A new buyer type with different expectations of the sales experience
- 27. Getting messaging adopted Proficiency Product Message Salesperson Formal Product Training Rollout Approaches 38% Limited demonstration of message proficiencyPractice & Role Play is limited 22% 87% said less than ¾ of their sales force is delivering the message as intended
- 28. A social learning approach Observe Imitate Feedback Repetition Certify Elements Videos Storyboard Script PPTX Related Research
- 29. Commercial Tribe – Reps place to practice Applications – Messaging Certification – Onboarding – Team communications – Coaching – Knowledge Sharing – Win/Loss stories – Case studies
- 30. Adoption and Practice 30 93% have logged in within the last month 5 practices per rep Increased ASP and Deal Size Improved Rep Confidence Greater Return on CVI investment Over 500 Practices 500+