128: Your Go-To Market Strategy Done Right w/ Pete Crosby

June 01, 2022 00:41:59
128: Your Go-To Market Strategy Done Right w/ Pete Crosby
B2B Revenue Acceleration
128: Your Go-To Market Strategy Done Right w/ Pete Crosby

Jun 01 2022 | 00:41:59

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Show Notes

Developing a go-to-market strategy is essential in not only defining who your customer base should be but also how to go about targeting them effectively.

After all, there’s little point in having a product or service if there’s no visibility to your ideal customer, no matter how outstanding you believe it may be. Your product cannot sell itself nor build its own brand and define itself in the market - this is where a well-developed go-to-market strategy is essential. 

Our host, CEO of Operatix Aurelien Mottier, sat down with Pete Crosby (Executive Coach and Founder at Pete Crosby Revenue) to hear his expert insight into how businesses can get the very best results out of their go-to market strategy. 

Dive into the episode below to understand how to get your fundamentals right, as well as common mistakes to avoid and frameworks that’ll help you understand where your current strategy may need development. 

To hear this interview and many more like it, subscribe to B2B Revenue Acceleration on Apple Podcasts, Spotify, our website, or anywhere you get podcasts.

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Episode Transcript

WEBVTT 1 00:00:00.960 --> 00:00:06.559 You were listening to be tob revenue acceleration, a podcast dedicated helping software executive 2 00:00:06.599 --> 00:00:10.400 stay on the cutting edge of sales and marketing in their industry. Let's give 3 00:00:10.439 --> 00:00:15.519 into the show. This podcast is sponsored by going. Going empowers your entire 4 00:00:15.599 --> 00:00:22.440 go to mark your organization, but operationalizing you almost followable asset your customer interactions, 5 00:00:22.480 --> 00:00:27.600 transform your organization into a revenue machine, or unlocking reality and helping your 6 00:00:27.640 --> 00:00:33.320 people reach their full potential. Get started now at Gong dought Io. Hi 7 00:00:33.399 --> 00:00:36.679 You, welcome to be to be a revenue acceleration. My name is open 8 00:00:36.759 --> 00:00:41.520 in with you and I'm here today. We Spit crossby executive coach and found 9 00:00:41.679 --> 00:00:45.799 a bit crossby revenue. How are you doing today? Bit Good. It's 10 00:00:45.840 --> 00:00:48.000 going to meet you right. Great to meet you. To us, I've 11 00:00:48.039 --> 00:00:51.200 already met you, can of weirdly, because I was watching some of your 12 00:00:51.280 --> 00:00:54.560 video that live and delayed, but I do recognize you. A Big Fan. 13 00:00:54.600 --> 00:00:58.640 You are coach on one of the sense impact corps and he was extremely 14 00:00:58.719 --> 00:01:03.679 valuables and today we will be speaking about how companies can get that good to 15 00:01:03.719 --> 00:01:07.840 market strategy rights. So that's that's a bit of a too big itself. 16 00:01:07.840 --> 00:01:10.760 Before we get going, would you mind just introducing yourself, Pete, and 17 00:01:11.239 --> 00:01:15.400 telling a little bit about your company, but also your backgrounds? Yeah, 18 00:01:15.480 --> 00:01:18.200 I'm not sure we can answer that question in thirty minutes, but we'll give 19 00:01:18.239 --> 00:01:21.079 it. We'll give it a try. And my background is as a four 20 00:01:21.079 --> 00:01:26.359 times revenue leaders. So back in the day I was Acom that we sold. 21 00:01:26.560 --> 00:01:30.400 Eventually I moved to social network we've talking earlier. I was placed in 22 00:01:30.400 --> 00:01:36.560 palace for five years running that and then went to Ajing in China for almost 23 00:01:36.560 --> 00:01:38.920 two years. Once we did our IPO, took some time out and then 24 00:01:38.920 --> 00:01:42.079 did the bit that I probably enjoy it the most, which was joined a 25 00:01:42.200 --> 00:01:46.680 startup, first in the travel space, around about two and a half million 26 00:01:46.680 --> 00:01:49.920 dollars of a art are and we went up to the ten mill in about 27 00:01:49.959 --> 00:01:53.959 eighteen months. And then I joined any COMMIS business and we did the same 28 00:01:53.959 --> 00:01:56.599 thing. That in about two years and honestly I'd still be there today. 29 00:01:56.680 --> 00:02:00.640 is a fantastic business that called Ametria, but my my oldest daughter got quite 30 00:02:00.680 --> 00:02:05.079 sick, I decided to stop working with my wife take the time at home, 31 00:02:05.079 --> 00:02:07.599 which is what we did in Jan of two thousand and twenty is everyone 32 00:02:07.640 --> 00:02:09.319 knows. In March the while world decided, hey, let's work from home 33 00:02:09.439 --> 00:02:13.759 and I got contacted for advice. My daughter had an op it went quite 34 00:02:13.840 --> 00:02:15.319 well. Twenty year old girls don't want to hang out with a dad for 35 00:02:15.360 --> 00:02:20.080 the whole life. So I did some advised you work now I do three 36 00:02:20.120 --> 00:02:23.759 things. So the first is coaching and I'm coaching forty. See, he's 37 00:02:23.960 --> 00:02:29.240 founders C R osvp sales from the bay area right across to Israel, lots 38 00:02:29.240 --> 00:02:32.120 of people in the UK and that means coaching, mentoring, advising, working 39 00:02:32.120 --> 00:02:38.400 with those organizations. I advised some of the five organizations and then I teach. 40 00:02:38.599 --> 00:02:40.919 So I teach the course. We were talking about the definitive guide to 41 00:02:42.120 --> 00:02:46.039 revenue leadership and that's a twenty four lecture course that I wrote with Mandy Cole, 42 00:02:46.159 --> 00:02:49.840 who was the Clo at Cena fits. We have guest lectures were mark, 43 00:02:49.879 --> 00:02:54.560 the burs author sales acceleration form the silvicceleration formula and the prince support stage 44 00:02:54.599 --> 00:02:59.240 to capital and is a think. Who was the CMO at Tableau, Greg 45 00:02:59.280 --> 00:03:01.479 Holmes, who was the Celos Goes Zoom Up to the IPO. So really 46 00:03:01.560 --> 00:03:06.319 high level of CEOS. And the bit that's exciting me right now is I 47 00:03:06.319 --> 00:03:10.199 am currently in the process of interviewing the world's top one hundred chief avenue officers 48 00:03:10.280 --> 00:03:15.719 and incorporation of all of their theories and flameworks into the next version of the 49 00:03:15.759 --> 00:03:21.400 course. So recently I would treat CEOS Adobe and Cisco and a Wus shop 50 00:03:21.560 --> 00:03:24.759 fly and all sorts of the very, very cool, very successful companies take 51 00:03:24.800 --> 00:03:29.439 it all of their learnings and applying those two the course as well. So 52 00:03:29.560 --> 00:03:32.759 we can try dever something that isn't just what Pein Mandy think, but this 53 00:03:32.800 --> 00:03:38.039 time this is what the world's best to every new leaders think about how you 54 00:03:38.520 --> 00:03:40.280 should scale up your organization. Well, I think he's felt said. You 55 00:03:40.360 --> 00:03:45.159 like to keep busy. Bit. It's quite a few things that you're looking 56 00:03:45.159 --> 00:03:47.080 at the moments. That that's interesting. Yeah, I'M gonna I'm going to 57 00:03:47.199 --> 00:03:51.800 try to get on to the the course next use. They're really really enjoyed 58 00:03:51.840 --> 00:03:54.360 the first one. So coming back to to to the conversation today and the 59 00:03:54.439 --> 00:03:58.520 good to market and how to get it right. It's often that we see 60 00:03:58.560 --> 00:04:02.599 SASS businesses turning towards their selves and Marketing Team on the product is not selling 61 00:04:02.639 --> 00:04:08.879 are when the grocers not as a as expected by the funders of the CEO 62 00:04:09.039 --> 00:04:12.400 or the piece or the Vic's are where is bagging and giving money to the 63 00:04:12.400 --> 00:04:16.079 company. But sometimes you may not be the sales or the marketing efficiency. 64 00:04:16.319 --> 00:04:19.319 It could be the fact that there is on the laying issues with the product 65 00:04:19.399 --> 00:04:23.120 or the good to market strategy. So that can of lead me to my 66 00:04:23.120 --> 00:04:27.600 first question to you, which all know. What are the fundamentals that companies 67 00:04:27.639 --> 00:04:30.399 needs to get right when it comes to go to markets predigy? Yeah, 68 00:04:30.600 --> 00:04:35.759 such a relevant question. Probably not everyone, but almost all organizations that have 69 00:04:35.800 --> 00:04:41.480 approached me have, at some point in that approach said something like we've got 70 00:04:41.480 --> 00:04:44.959 this sales issue or we got this marketing issue. I remember one specifically. 71 00:04:45.360 --> 00:04:48.199 They said to me, then we've got this problem with our proposals. They're 72 00:04:48.240 --> 00:04:51.839 not converting to the next stage in the pipeline that we write this proposal, 73 00:04:51.879 --> 00:04:56.560 we listen to their pains and their problems. Right spost we send it out, 74 00:04:56.560 --> 00:04:59.720 but the conversion from that point to the next point isn't right. Can 75 00:04:59.800 --> 00:05:03.319 you help us to get our proposals right? And it's probably an extreme example, 76 00:05:03.480 --> 00:05:09.240 but almost without fail, including in this example, some nothing to do 77 00:05:09.319 --> 00:05:12.279 with how where you write the proposal. Probably you could write it better, 78 00:05:12.439 --> 00:05:16.439 probably you could write it worse. It's probably all right fundamentally if sales and 79 00:05:16.480 --> 00:05:21.439 marketing teams are struggling, there is a very high chance that it sits somewhere 80 00:05:21.480 --> 00:05:26.720 deeper in product market fit or in the way the go to market team and 81 00:05:27.040 --> 00:05:30.759 strategy has been structured in the first place. So I go through a series 82 00:05:30.759 --> 00:05:34.680 of questions with organizations. They vary depending on the organization, but typically what 83 00:05:34.720 --> 00:05:40.920 we discover is there is something in the core value of the organization. Are 84 00:05:40.920 --> 00:05:46.240 they able to articulate what makes them truly mission critical, in other words, 85 00:05:46.240 --> 00:05:49.839 the thing that that solves that hair on fire problem the organizations have? Can 86 00:05:49.879 --> 00:05:56.639 they solve that and articulate it really easily and succinctly? And second what is 87 00:05:56.680 --> 00:06:00.680 it about the way they solve the PROB that problem that makes them they're normally 88 00:06:00.720 --> 00:06:02.439 not, you leakue. It's unusual to be unique. It might not even 89 00:06:02.519 --> 00:06:06.120 be desirable to be unique. Maybe you're very early if you're nat, but 90 00:06:06.399 --> 00:06:10.600 are you rare in the way that you solve the problem? You think about 91 00:06:10.600 --> 00:06:14.680 that as a chart with a y access and an x axis, with mission 92 00:06:14.720 --> 00:06:17.759 critical going up one, scored from one to five, and rarity going along 93 00:06:17.800 --> 00:06:20.959 the bottom, scored from one twenty five. Obviously you want to be in 94 00:06:21.000 --> 00:06:26.360 the top, right and corner. So what are the attributes that represent the 95 00:06:26.360 --> 00:06:30.160 core value that make use as rare and as mission critical as possible? If 96 00:06:30.199 --> 00:06:33.079 you can identify those things, then you can start to shape a value proposition 97 00:06:33.120 --> 00:06:36.759 that really works. Now what I tend to discover when I interview seeing at 98 00:06:36.759 --> 00:06:42.399 people, is must them cannot have a reasonably good go answering these questions in 99 00:06:42.439 --> 00:06:46.240 a none of them have scaled their business to where they got to without being 100 00:06:46.279 --> 00:06:49.360 capable. But often they talk about those things differently and it means the senior 101 00:06:49.360 --> 00:06:53.800 management team mark communicating in the same way. Of they're not communicating in the 102 00:06:53.800 --> 00:06:58.519 same way, then good luck to everyone else in the company to be able 103 00:06:58.639 --> 00:07:01.199 to talk in the right way about about the business. So that's often where 104 00:07:01.240 --> 00:07:04.360 we start, but they're all sorts of other things that we may discuss today. 105 00:07:04.399 --> 00:07:10.279 You know they've got their ICP right. Often organizations will try to target 106 00:07:10.560 --> 00:07:14.720 just too many companies and you end up try to shape your product or your 107 00:07:14.759 --> 00:07:17.439 technology to solve too many use cases and then you end up doing none of 108 00:07:17.480 --> 00:07:23.560 them well enough. Floor why not focus or just being the perfect obvious solution 109 00:07:23.800 --> 00:07:28.319 for a handful of organizations? So ICP is really key. Getting the value 110 00:07:28.319 --> 00:07:31.279 prop rides as all bunch of stuff around that. But often that fundamental core 111 00:07:31.519 --> 00:07:36.439 is we call products shaped correctly for the market. Backs done well, then 112 00:07:36.519 --> 00:07:42.120 probably your proposal is got to convert much better and maybe you don't have a 113 00:07:42.120 --> 00:07:45.639 problem with the way you end that proposal in the first place. So really 114 00:07:45.720 --> 00:07:50.319 is coming back to what what problem are you solving and and are you I 115 00:07:50.399 --> 00:07:54.759 agree with you. I think the world unique is probably not the right the 116 00:07:54.879 --> 00:07:58.319 right way. But how do you do it differently? How do you differentiate 117 00:07:58.360 --> 00:08:01.199 with with our people are going after the same problem? So that's the beginning 118 00:08:01.199 --> 00:08:05.000 of the framework, right, and then what would you put after that? 119 00:08:05.079 --> 00:08:09.480 Would you say is then I guess come the ICP. So when you know 120 00:08:09.519 --> 00:08:11.120 what problem you are solving in world you can be unique. You can stop 121 00:08:11.160 --> 00:08:13.959 to say, okay, here is the business case, or do you skate 122 00:08:15.079 --> 00:08:18.519 sory? I want to focus on they just see find the ACPA, the 123 00:08:18.600 --> 00:08:22.759 type of companies than the individual in the organization. What about the messaging and 124 00:08:22.879 --> 00:08:28.959 to engage with them, because that's then coming to marketings or to kind of 125 00:08:28.959 --> 00:08:33.840 the the Legion team, the pipeline development team, and we see a lot 126 00:08:33.879 --> 00:08:37.559 of our clients struggling with that. Right the card this I was on the 127 00:08:37.639 --> 00:08:43.600 code with a client, a good clients of us, quite only stage and 128 00:08:43.600 --> 00:08:48.320 we spend one month on a program where we are not satisfied with the results 129 00:08:48.360 --> 00:08:50.240 of that first month. We were far below what we would expect from a 130 00:08:50.279 --> 00:08:54.559 bench moss perspective. And we're speaking with the one of the top selves guide, 131 00:08:54.559 --> 00:09:00.960 the CEEO and one advisor, see our type of advisor, and basically 132 00:09:01.000 --> 00:09:03.159 we just send them look, message is great, we explain what we are 133 00:09:03.240 --> 00:09:11.159 doing, but there is no real translation of what does that mean for the 134 00:09:11.519 --> 00:09:18.080 target ICP right, so you explain. So why is something with four wheels? 135 00:09:18.120 --> 00:09:20.039 You know he's got is got like a something that true term, and 136 00:09:20.080 --> 00:09:24.720 he's got something called an engine. And then you put something called betrol and 137 00:09:24.759 --> 00:09:28.159 you can go from A to B and that goes quicker than by foot. 138 00:09:28.159 --> 00:09:31.039 That goes quicker at the bike. That goes quicker than anything else that you've 139 00:09:31.039 --> 00:09:35.720 said. But what's the what's it for them? Okay, as we are 140 00:09:35.759 --> 00:09:37.799 speaking. I think he was a cus. Well, we actually do it 141 00:09:37.960 --> 00:09:43.799 nine time quicker and it's actually about solving stright issue. So when you get 142 00:09:43.840 --> 00:09:46.919 attacked, when you get to say but Ada, they can resolve the root 143 00:09:48.000 --> 00:09:52.879 cause nine time quicker. They can find the solution nine time quicker, which 144 00:09:52.919 --> 00:09:56.879 in my eyes is massive. That's the use case and that's why you create 145 00:09:56.919 --> 00:10:01.639 that moment where people are like almost that bullshit moment, but people are none 146 00:10:01.519 --> 00:10:03.639 and not too good to be true. I can't believe you do that. 147 00:10:03.919 --> 00:10:07.399 Yes, let's your that's how you push them in the net and say, 148 00:10:07.440 --> 00:10:11.440 okay, let's engage, but that's your reca moment. It was with the 149 00:10:11.519 --> 00:10:15.799 specific clients and we discussed it was an interesting conversation because we really evolved in 150 00:10:15.840 --> 00:10:18.080 one hour into something we are all excited about and saying now we've got a 151 00:10:18.080 --> 00:10:24.200 hook. But finding that Hook is probably one of the most difficult aspect that 152 00:10:24.240 --> 00:10:28.679 we see our client getting. I think they kind of figure out through advice 153 00:10:28.759 --> 00:10:33.000 by the time they get to it's what problem, the our sliving and our 154 00:10:33.159 --> 00:10:35.840 defriend down the way. They're sort of thing it the word they can't explain 155 00:10:35.879 --> 00:10:41.720 and me these the Lego for a friends is is how do you measure our 156 00:10:41.799 --> 00:10:46.360 dear friend they are in a tangible way? So it does you justify your 157 00:10:46.480 --> 00:10:50.159 change? Yeah, who says so? Is a lot to unpack there, 158 00:10:50.159 --> 00:10:52.080 but there's don't all right now, doesn't drop it a little bit, but 159 00:10:52.200 --> 00:10:56.159 I love that. There's exactly the kind of conversation that I was hoping that 160 00:10:56.200 --> 00:11:00.639 we could have. There are were to fame works. Probably that I feel 161 00:11:00.639 --> 00:11:05.159 a really relevant there. So I'll talk about the first one, which really 162 00:11:05.200 --> 00:11:09.600 comes before getting the body proposition rights. Once you've got this one done, 163 00:11:09.600 --> 00:11:13.440 the Baldy poposition becomes easier. It's the first one. Is really about defining 164 00:11:13.559 --> 00:11:16.200 what the pain is. You called it the problem. What the pain is 165 00:11:16.240 --> 00:11:20.519 that we're actually solving now most organizations are going to get I'll give you an 166 00:11:20.519 --> 00:11:24.399 example, but most organizations that you speak to, if you give them a 167 00:11:24.399 --> 00:11:28.799 white board and say like sticks and post it notes up there with slid the 168 00:11:28.840 --> 00:11:31.679 pain, they'll come up with a few things and then you ask them to 169 00:11:31.720 --> 00:11:35.080 score it out of ten, and so they'll give you a score like seven 170 00:11:35.120 --> 00:11:39.200 out of ten. Here I out tend in nine out tend hit on. 171 00:11:39.559 --> 00:11:41.200 What's the Plame work for this? Score. So the first thing to do 172 00:11:41.360 --> 00:11:45.440 is try and figure that out. So I was inspired. If you are, 173 00:11:45.480 --> 00:11:50.399 if anyone out though is interested, if you Google McGill paying index, 174 00:11:50.480 --> 00:11:52.559 you're fine. If you've ever spend time in hospitals you'll see this. The 175 00:11:52.639 --> 00:11:56.720 McGill Pain Index is a zero two, hundred and fifty pain score for physical 176 00:11:56.840 --> 00:12:01.759 pain. So a tension headache, I think, is about eleven out of 177 00:12:01.840 --> 00:12:07.159 fifty. And I giveing birth like pretty painful, like it's thirty out of 178 00:12:07.240 --> 00:12:09.799 something very painful that my wife has. It's called trigeminal new Alger. It's 179 00:12:09.799 --> 00:12:13.639 a nerve paying down here, which could scores forty two out of fifty. 180 00:12:13.759 --> 00:12:16.480 And then I was doing this exercise with an organization. They told me up, 181 00:12:16.480 --> 00:12:20.600 eat, none of those things painful. Fifty out of fifty is the 182 00:12:20.639 --> 00:12:24.799 Gimpy Gim people on't like. What's a Gimpy Gimbie plant? That sounds made 183 00:12:24.879 --> 00:12:28.080 up. The none, no, Pete Google it. I Google it. 184 00:12:28.080 --> 00:12:31.080 Turns out, guess what, it's an Australian plant and it releases the sub 185 00:12:31.159 --> 00:12:35.600 seeds into the atmosphere that you can barely see and they land on your skin 186 00:12:35.000 --> 00:12:39.799 and then borrow into your skin and they cause such extraordinary plain that you want 187 00:12:39.840 --> 00:12:43.000 to kill yourself. Animals throw themselves of rocks and cliff tops. Is that 188 00:12:43.039 --> 00:12:46.000 bad? So if you and I went for an offsite in that part of 189 00:12:46.000 --> 00:12:50.000 Australia and I said to you, how rape can you just like pop into 190 00:12:50.080 --> 00:12:54.559 the jungle get that thing, you're like, no way my going in there. 191 00:12:54.559 --> 00:12:56.480 But if I am, I mean I has matt suit. Like the 192 00:12:56.480 --> 00:13:00.120 pain is so extreme that you know that you can't handle it. Where is 193 00:13:00.159 --> 00:13:01.799 you and I both know that there are some pains that are minor and you 194 00:13:01.879 --> 00:13:05.159 probably go skiing or do something like that that you enjoy. You know you 195 00:13:05.240 --> 00:13:09.600 might experience playing, but you decide the risk is worthwhile. But a fifty 196 00:13:09.600 --> 00:13:11.519 out of fifty pay no that you decide it's not. So I took that 197 00:13:11.559 --> 00:13:16.679 idea and I reshaped it. That McGill pain Scorne. I reshaped it for 198 00:13:16.240 --> 00:13:20.039 BTB sales. What's a ten out of ten play in? A ten out 199 00:13:20.039 --> 00:13:24.360 of ten play is probably my company will die if I don't solve this problem. 200 00:13:24.399 --> 00:13:28.559 So shopify could be a good example of an organization that solves it out 201 00:13:28.559 --> 00:13:31.960 of ten pain. If that goes down, I can't sell stuff. If 202 00:13:31.000 --> 00:13:35.159 I got sell stuff, then eventually I can't pay my staff, I can't 203 00:13:35.159 --> 00:13:37.279 buy stock, I'm going to run out of money. My company will weren't 204 00:13:37.320 --> 00:13:41.720 bust. So it's pretty fundamental. I'm a nine out of ten is, 205 00:13:41.000 --> 00:13:45.559 but I'm going to lose my job and that's often a bigger driver, especially 206 00:13:45.639 --> 00:13:50.440 large organizations, where people are at it were disconnected from the the enterprise itself. 207 00:13:50.480 --> 00:13:52.759 I don't want to lose my job. I must act, and so 208 00:13:52.799 --> 00:13:58.960 you can go down to that scale, work down to one identifine what the 209 00:13:58.080 --> 00:14:01.840 score is for your pain is really important. That's the first bit. So 210 00:14:01.879 --> 00:14:05.200 I'll give you an example. I worked for a company called TRIPSIS. It's 211 00:14:05.240 --> 00:14:09.000 a brilliant business. It works with hotels, tenzero hotels around the world to 212 00:14:09.279 --> 00:14:13.159 enable them to get all of the makers and business people to book direct on 213 00:14:13.159 --> 00:14:16.919 the website. Why? It's cheaper to book direct. It's more expensive to 214 00:14:16.960 --> 00:14:22.120 go to the online travel agent like Bookingcom and and and Expedia, but most 215 00:14:22.159 --> 00:14:24.240 people don't know that and they tend to go to the online travel agent. 216 00:14:24.679 --> 00:14:30.519 The pain that the hotels were experiencing was every month I have to write a 217 00:14:30.600 --> 00:14:33.480 check to book in and to Expedia for fifteen to twenty percent of my total 218 00:14:33.519 --> 00:14:39.519 bookings and every month that number gets bigger and bigger and bigger, and I 219 00:14:39.519 --> 00:14:43.399 if I could even keep half of that money, I could spend it on 220 00:14:43.600 --> 00:14:46.360 renovating the rooms, providing a new bar, putting in a swimming pool like 221 00:14:46.399 --> 00:14:50.799 this a lot of money. So that's the pain. They knew that bit. 222 00:14:50.840 --> 00:14:54.600 What they didn't do is they didn't connect it to the strategic driver. 223 00:14:54.840 --> 00:14:58.759 So this is the steps we go through in the exercise. If you've got 224 00:14:58.759 --> 00:15:03.440 that paying well, what's the risk that sits under these nosule in that pain. 225 00:15:03.519 --> 00:15:07.240 In the case of hotels, it's all hold on. Every time I 226 00:15:07.240 --> 00:15:13.480 get someone come into my hotel who comes from Bookingcom that person I don't have 227 00:15:13.519 --> 00:15:16.759 their mobile phone number, I don't have the email address. I can't write 228 00:15:16.840 --> 00:15:20.159 to them beforehand and let sell them more services. I can't try and get 229 00:15:20.200 --> 00:15:22.360 them to come back after so I can't get a repeat customer. We know 230 00:15:22.600 --> 00:15:28.480 from research in a book by chick quality which shows that you spend more if 231 00:15:28.480 --> 00:15:31.000 you book direct so probably you have a more affinity with the brand. You 232 00:15:31.120 --> 00:15:35.320 chose them directly, you're nicer to their staff or when you go so that's 233 00:15:35.360 --> 00:15:39.919 important too. So hotels really want to get this, but it's getting harder 234 00:15:39.960 --> 00:15:45.159 and hardest. They're becoming disconnected from that repeat business. So that's the risk. 235 00:15:45.440 --> 00:15:48.039 So that goes beyond the pay but then, because beyond risk, to 236 00:15:48.120 --> 00:15:52.559 this strategic comparative, which is if that continues, next time I want to 237 00:15:52.559 --> 00:15:56.519 go to Paris and stay in a hotel in the night sell on D S 238 00:15:56.600 --> 00:16:00.399 One with my wife and I go on Bookingcom and I get that map feature 239 00:16:00.440 --> 00:16:03.919 and I see there's twenty four star hotels within my price range or with good 240 00:16:03.919 --> 00:16:07.600 traveler ratings. I choose, well, I don't know, just choose the 241 00:16:07.600 --> 00:16:11.320 one that sort of nearest rougherly. Well, want to be it's a becomes 242 00:16:11.320 --> 00:16:15.919 a commodity. So we go from I write a big check the bookingcom. 243 00:16:15.960 --> 00:16:18.840 So I can't get repeat business. So if this continues, I just become 244 00:16:18.840 --> 00:16:23.120 commodified. So no longer could I do hotels because for the reasons that I 245 00:16:23.159 --> 00:16:30.000 wanted to give travelers this wonderful experience. Now I'm just serving my master bookingcom. 246 00:16:30.120 --> 00:16:32.759 So once you walk and though that, that moves to must of the 247 00:16:32.799 --> 00:16:34.879 seven outs into an eight out of ten to a nine out of ten becomes 248 00:16:34.879 --> 00:16:38.759 really painful. So this is the process that we go through. What's The 249 00:16:38.840 --> 00:16:45.639 plain? Squirt highly. What's the risk of not acting on that plain? 250 00:16:45.799 --> 00:16:49.240 As we know, people tend to run away from pain and toward pleasure, 251 00:16:49.279 --> 00:16:53.200 but we run away from pain more quickly than we want toward pleasure. And 252 00:16:53.240 --> 00:16:57.440 then, once you identify the risk, what's the strategic comparative that sits underneath? 253 00:16:57.519 --> 00:17:03.720 Back driving the plane that I'm experiencing, articulating that in a really simple 254 00:17:03.840 --> 00:17:07.279 way. It's something that in a moment, when we talk about valley proposition, 255 00:17:07.279 --> 00:17:11.359 becomes really important. Yeah, I was about to say this is he's 256 00:17:11.400 --> 00:17:15.279 a fantastic reframing of very setting. You know, it's what's the cost of 257 00:17:15.319 --> 00:17:19.240 doing nothing? Was the risk? Are Riski it, you know, and 258 00:17:19.279 --> 00:17:23.359 asking what this question in a value setting paper, paper for approach. So 259 00:17:23.440 --> 00:17:26.200 yeah, so let's talk about that. Let's talk about the very proposition. 260 00:17:26.200 --> 00:17:30.039 We had it. That's the next step. Now you once you've got that, 261 00:17:30.480 --> 00:17:34.160 you've done that, you've done that assessment. I'll do you. How 262 00:17:34.240 --> 00:17:37.640 do you boil it down to the Chey moments? Wow, obviously, if 263 00:17:37.640 --> 00:17:41.000 you are the already a stage of the said cycle, you've got to be 264 00:17:41.039 --> 00:17:45.920 able to boil that down to probably three sentences, and so that's Proba probably 265 00:17:45.920 --> 00:17:49.640 building now. Yeah, if you are, I wonder want meeting. Of 266 00:17:49.759 --> 00:17:53.880 course you can got it a bit more for question and listening to to to 267 00:17:55.279 --> 00:17:57.759 toward the prospect says. But let's start with with the beginning of the process. 268 00:17:57.799 --> 00:18:02.440 I've I've been in their esting to also discuss about good to market strategy 269 00:18:02.519 --> 00:18:04.400 and I'll people are actually, we're going to get that for later. But 270 00:18:04.400 --> 00:18:08.759 I think sells people need to be slightly defic you're still figuring out your good 271 00:18:08.799 --> 00:18:12.200 to market strategy. I think the need to be a little bit more free 272 00:18:12.279 --> 00:18:17.599 spirits and be able to lend in different play season think on their fit. 273 00:18:17.720 --> 00:18:22.319 But let's took about that later. Let's look about that value proposition from the 274 00:18:22.440 --> 00:18:26.160 scale of pain to the very proposition. I would you push it there and 275 00:18:26.200 --> 00:18:30.759 make sure people are using it. Yeah, so, I mean there's more 276 00:18:30.799 --> 00:18:33.039 than one sechnique for doing this. The one that I use is a five 277 00:18:33.119 --> 00:18:40.839 step process which it's uses as a foundation those though pains and risks and teacher 278 00:18:40.960 --> 00:18:45.200 drivers that we just spoke about and tries to identify what is the big shift 279 00:18:45.279 --> 00:18:49.640 in the world, the power diigm shift. That means that we have to 280 00:18:49.799 --> 00:18:55.359 act and look. Until recently people didn't always understand what a power didigm shift 281 00:18:55.440 --> 00:18:57.799 but if you're leading a business now, you know exactly what a power didigm 282 00:18:57.839 --> 00:19:00.839 shift is, because we all just went through one. We could have predicted 283 00:19:00.920 --> 00:19:04.759 coronavirus, but none of us did. Coronavirus was a paradigm shift for our 284 00:19:04.839 --> 00:19:08.000 business. Most of us weren't working from home. We had to work from 285 00:19:08.119 --> 00:19:14.079 home and the consequence of that now is that workforces are used to distributed work 286 00:19:14.160 --> 00:19:17.079 and used to hybrid working. What do we do with our offices? Should 287 00:19:17.119 --> 00:19:18.839 like hire someone in Australia to work for me, or will they need to 288 00:19:18.880 --> 00:19:22.640 come to an office? All of these questions we have. So we know 289 00:19:22.759 --> 00:19:26.240 what a paradigm shift is. So what's The paradigm shift in the world that 290 00:19:26.440 --> 00:19:30.759 gives your your product, it's meaning? And that's the very first thing to 291 00:19:30.839 --> 00:19:34.519 go through. WHAT IS THE PARADIGM SHIFT? And I based this I call 292 00:19:34.599 --> 00:19:38.079 us the Raskin Matrix. I based it on the work of someone called Andy 293 00:19:38.160 --> 00:19:41.440 Raskin, who are you probably have read. He wrote this wonderful blog post, 294 00:19:41.519 --> 00:19:45.319 the greatest sales deck ever written. which was an analysis of the Zoora 295 00:19:45.519 --> 00:19:49.160 sales that could you can find his analysis on medium scoop it or come up 296 00:19:49.240 --> 00:19:52.480 with the number one results. What I did is I took he is analysis 297 00:19:52.599 --> 00:19:56.680 and tried to turn it into a model for building a value proposition. So 298 00:19:56.759 --> 00:20:00.039 the first bit is what is the paradigm shift? Once you've got the paradigm 299 00:20:00.160 --> 00:20:04.480 shift, then the next thing is to identify will who wins in that paradigm 300 00:20:04.559 --> 00:20:11.400 shift and who loses. So, for example, you know works recently if 301 00:20:11.440 --> 00:20:14.599 for an ECOMMERCE business. I mentioned them earlier, a metre in the world 302 00:20:14.680 --> 00:20:18.759 of ECOMMERCE. But the losers tend to be the high street stores that haven't, 303 00:20:18.799 --> 00:20:22.720 I adopted or succeeded in ECOMMERCE. What happened to toys R us and 304 00:20:22.799 --> 00:20:26.680 looks of other brands you can think of the disappeared the market place, and 305 00:20:26.039 --> 00:20:30.480 those are quite good brands to talk about as losers because they were big and 306 00:20:30.680 --> 00:20:33.359 established and they felt like they were never going anywhere and then they did. 307 00:20:34.079 --> 00:20:38.720 And yet some organizations succeed. If they won, they broke through, they 308 00:20:38.799 --> 00:20:42.599 did great things. You can all think, probably of great ecommerce brands that 309 00:20:42.640 --> 00:20:47.480 are pure play online fabulously successful. You can probably think of, I. 310 00:20:47.720 --> 00:20:51.400 Some high street brands that have continued to succeed. So what do you do 311 00:20:51.880 --> 00:20:55.240 to break through? How do you be the winner and not the loser inside 312 00:20:55.319 --> 00:20:57.799 this New Paradigm Shift? So that's the third step. I was the common 313 00:20:57.920 --> 00:21:03.680 thread that joins the winners together. What did all those winners identify allowed them 314 00:21:03.759 --> 00:21:07.599 to win inside this New World, this New Paradigm Shift? So once you've 315 00:21:07.640 --> 00:21:12.480 got that landed, what should be happening here is that your your prospect should 316 00:21:12.480 --> 00:21:17.759 be going. Yes, you're absolutely right, this is exactly what's happened in 317 00:21:17.799 --> 00:21:21.279 our world. Or Goups, I hadn't even thought of that. You're exactly 318 00:21:21.440 --> 00:21:23.279 right. That's exactly what's happened in our world, and you should really be 319 00:21:23.440 --> 00:21:27.559 landing a strong point. That's when you move on to this four step. 320 00:21:27.680 --> 00:21:32.640 Fourth step, which is the concrete criteria, the framework. How do you 321 00:21:32.759 --> 00:21:37.680 win in this new world and in this new world, you're drawing out a 322 00:21:37.119 --> 00:21:42.839 framework there. So that framework says, this is what the organizations that won 323 00:21:42.920 --> 00:21:47.559 and succeeded, this is what they did step by step, and like bring 324 00:21:47.599 --> 00:21:49.839 it up what it's on a deck and show them how the framework starts to 325 00:21:49.920 --> 00:21:53.559 build and stablished. Show them what your three points, five points, ten 326 00:21:53.640 --> 00:21:57.119 points looks like. They should be able to leave that meeting. Not, 327 00:21:57.599 --> 00:22:00.039 they don't have to work with you. They should leave that meeting say, 328 00:22:00.119 --> 00:22:03.440 Gosh, that's exactly what we need to do. I don't know if we're 329 00:22:03.440 --> 00:22:04.519 going to work with this company or not, but that can I have to 330 00:22:04.599 --> 00:22:07.440 the copy of the deck please. That's awesome. That's exactly what we need 331 00:22:07.480 --> 00:22:11.599 to do. Obviously there's a likelihood they will work with you because it was 332 00:22:11.720 --> 00:22:15.240 you that shared that. One of my customers says, until we worked with 333 00:22:15.319 --> 00:22:21.039 Pete on the Raskin Deck, we were seen as a vendor. Now we're 334 00:22:21.039 --> 00:22:22.960 seen as a partner, and that's because the position in as is as an 335 00:22:23.039 --> 00:22:26.200 expert like ears how you win. So that that's the fourth step, the 336 00:22:26.240 --> 00:22:30.640 concrete quite the fifth step, then, and probably the easiest one to do 337 00:22:30.799 --> 00:22:33.319 from most of us, is the social proof. It's the demonstration that you 338 00:22:33.440 --> 00:22:37.119 can make this come true. Notice that we haven't pitched our product a tool 339 00:22:37.200 --> 00:22:41.240 yet. So we started with the paradigm shift, that we moved to winners 340 00:22:41.279 --> 00:22:44.680 and losers. Then we moved to the common thread that joins the winners together. 341 00:22:45.079 --> 00:22:48.640 Then we spent time on the flame works, the concrete quiteria that make 342 00:22:48.799 --> 00:22:52.519 this real. That's a practical thing that you're sharing. And, finally, 343 00:22:52.599 --> 00:22:56.640 proofs that you can make it come true. So sometimes you'll be sharing your 344 00:22:56.720 --> 00:23:00.920 customers or a quote from your customers in the Zoor, example. So are 345 00:23:00.079 --> 00:23:03.839 share a quote from our and Leeby, who is the CEO of box, 346 00:23:04.039 --> 00:23:08.279 saying we had a praise your world at a post or world, and the 347 00:23:08.359 --> 00:23:12.680 post or world has enabled us to know to succeed. So you share social 348 00:23:12.720 --> 00:23:17.000 proofs that you can make this come true. Now, psychologically, why do 349 00:23:17.039 --> 00:23:19.240 you do it like this? Well, reason you do this is because none 350 00:23:19.240 --> 00:23:22.680 of us like to be sold to. That we don't. If you go 351 00:23:22.839 --> 00:23:26.640 into a clothing store and a shop assistant comes up to you and says hello, 352 00:23:26.799 --> 00:23:30.640 sir, can I help you? What do you tend what do you 353 00:23:30.680 --> 00:23:34.359 do? Usually no, I truly went. Actually went. Its true story. 354 00:23:34.640 --> 00:23:38.200 I went to well, we've got listened out from everywhere, but in 355 00:23:38.279 --> 00:23:41.440 the UK with good shops called carriers, which piss you are the like you 356 00:23:41.920 --> 00:23:45.880 while you're by your wishing machine, are your laptop, or whenever you want 357 00:23:45.920 --> 00:23:48.640 to buy like a fire stuff like that and I actually wanted to get the 358 00:23:48.720 --> 00:23:52.400 new charge off from my laptop. Get so I'm going to show but literally, 359 00:23:52.480 --> 00:23:55.279 so when it comes to me and can he if youse out up, 360 00:23:55.319 --> 00:23:56.680 I'm good. And then literally I'm like, you know what, I actually 361 00:23:56.960 --> 00:24:00.279 come back. I need you wander how was just? I was pre pro 362 00:24:00.400 --> 00:24:03.200 runt. He was a pet rubber. I was not thinking. I was 363 00:24:03.319 --> 00:24:07.680 kind of, you know, sleep walking through the shop and I said No. 364 00:24:07.759 --> 00:24:08.920 But I'm like, actually, you're going to save me time because I 365 00:24:10.039 --> 00:24:12.799 know exactly why I'm here and I don't want to brawls around this shops are 366 00:24:14.000 --> 00:24:17.079 you know, I can get inter us up to look at TV complicas, 367 00:24:17.839 --> 00:24:21.720 Fifty Fifteen, TV at over whatever. You don't want to be, and 368 00:24:21.960 --> 00:24:25.200 I'm a terrible by you our by everything that's new and Gidgetty. Yes, 369 00:24:25.279 --> 00:24:27.319 we so you need to get me out of that shoppers and that's possible. 370 00:24:27.480 --> 00:24:30.319 I know it. If that, I'm going to get in trouble with the 371 00:24:30.359 --> 00:24:33.880 wikes. So I just got the gay bike and literally was that. It 372 00:24:33.000 --> 00:24:37.759 was a very transactional five minutes. It took me exactly what I wanted to 373 00:24:37.880 --> 00:24:41.319 get. It was a couple of options available. We discussed about the up 374 00:24:41.359 --> 00:24:45.319 sheds. I made a decision, went to it till paid. was of 375 00:24:45.960 --> 00:24:49.359 fantastic shopping experience. I could have spent two hours. Probably that be the 376 00:24:49.440 --> 00:24:53.319 right thing, and coming Backuso was also that the dot need and so what? 377 00:24:53.400 --> 00:24:56.319 There you go. So, but hope it example. Incidentally, the 378 00:24:56.400 --> 00:25:02.119 reason that you did that is because you're free, your Neolithic the Monkey, 379 00:25:02.200 --> 00:25:06.279 but in his pretty ar threatened by someone trying to sell you. So you 380 00:25:06.400 --> 00:25:08.160 we we sometimes leaven a hold our hand out like no, it's okay, 381 00:25:08.240 --> 00:25:11.279 I'm just looking, I'm just grows and like get out of my Dave kind 382 00:25:11.279 --> 00:25:14.920 of kind of yeah, you could have figured it out in you and you 383 00:25:15.000 --> 00:25:17.319 went an host. But Hill or tense happens. You didn't go and look 384 00:25:17.440 --> 00:25:18.880 in the in the store, all the stuff and you realize, I don't 385 00:25:18.960 --> 00:25:22.640 know what I'm looking at now I need some help. So you can find 386 00:25:22.720 --> 00:25:26.359 the person and you say, please, can you help me? I'm looking 387 00:25:26.400 --> 00:25:29.279 for a charge for my laptop and they're like what kind of laptop? If 388 00:25:29.279 --> 00:25:32.119 you got so, what ages it? Oh it's a MAC yellow. Let 389 00:25:32.200 --> 00:25:34.559 me take you over to the apple products and watch one of you got, 390 00:25:34.559 --> 00:25:37.599 because it's a different charger for the air and for the pro. I've got 391 00:25:37.680 --> 00:25:41.960 a pro here you go. So now you're being sold to be you're perfectly 392 00:25:41.000 --> 00:25:45.039 happy because they're selling you something that you need. And this is the purpose 393 00:25:45.079 --> 00:25:49.720 of this reskin style baddy proposition, because what you're trying to do at the 394 00:25:49.839 --> 00:25:56.559 end is get them to lower their defenses and eliminate was called by a bewhere. 395 00:25:56.960 --> 00:26:00.160 But at that moment they should say to you something like have you kind 396 00:26:00.160 --> 00:26:02.200 of thing you could show us, like the you have a demo, or 397 00:26:02.279 --> 00:26:04.039 I can you walk ast your products if you've got something we can see? 398 00:26:04.440 --> 00:26:07.640 And you're like, oh, I probably could walk you through something. Yeah, 399 00:26:07.680 --> 00:26:10.720 and let me, let me put something together for you. Let I 400 00:26:10.759 --> 00:26:12.119 can give you a demo. Let's log on now. I've got a few 401 00:26:12.200 --> 00:26:17.559 slides I can show you. And because he'd been asked, the defenses come 402 00:26:17.640 --> 00:26:21.079 down, whereas what much so many sales people do is they start with the 403 00:26:21.160 --> 00:26:23.039 tail, show and tell. We know, show up and slow up, 404 00:26:23.119 --> 00:26:27.759 start talking, and there's we know rarely works, sure, but it's right. 405 00:26:27.799 --> 00:26:32.279 That's exactly what they wanted to get to his work. I was trying 406 00:26:32.319 --> 00:26:36.960 to ascute the gushers and days are refrainmson from it. I think this is 407 00:26:37.039 --> 00:26:41.480 perfect. So I personally believe that by els the e's on need to between 408 00:26:41.480 --> 00:26:44.440 it. We as if you sell them something, eat to ease or ed 409 00:26:44.519 --> 00:26:48.880 them to between a category and say this is make a degory. When are 410 00:26:48.920 --> 00:26:52.200 you reviewing which you are doing in that category, and let me get back 411 00:26:52.200 --> 00:26:53.839 to you when the they needs right. If you are sending a commuity staff, 412 00:26:55.200 --> 00:26:59.079 you know I'm very comedy days and mobile for the cower something like that. 413 00:26:59.559 --> 00:27:00.759 I'm not going to sell you a car if you just bought a brand 414 00:27:00.799 --> 00:27:04.480 new car six months ago. Right, but maybe in five years time we 415 00:27:04.519 --> 00:27:07.039 can speak again. Maybe you tell me why I've got to bring new car. 416 00:27:07.079 --> 00:27:11.319 But I'm on the leader that this is two years right. And technically, 417 00:27:11.359 --> 00:27:14.480 I know it is very difficult with manufacturer to get the pulse of everything 418 00:27:14.519 --> 00:27:18.119 at the moment from China whatever. And postcurely, if you want an electric 419 00:27:18.200 --> 00:27:21.279 car because it's in high dements, how we should speak in one year, 420 00:27:21.680 --> 00:27:23.880 because you don't know that there's Atain frame. You need to get the things 421 00:27:23.960 --> 00:27:27.279 going and to produce it it. So then you start to teach them something 422 00:27:27.400 --> 00:27:33.680 new in the process which which I think people it's a consultative cells. I 423 00:27:33.720 --> 00:27:37.759 mean he's been called a lot of things with our plain but this is the 424 00:27:37.839 --> 00:27:41.839 best way to build a relationship. You build a relationship by giving information that 425 00:27:42.000 --> 00:27:47.039 gets of knowledge. And I know what you're saying because we've got lots of 426 00:27:47.599 --> 00:27:52.000 we've got lots of distrust eruptive customers and it absolutely drive me insane when you 427 00:27:52.160 --> 00:27:55.640 just listen to the code that the sellers guy is good to. So we 428 00:27:55.759 --> 00:27:57.799 book a cold, we get someone excited, we create that light bird moment. 429 00:27:57.880 --> 00:28:02.559 When this is how you go about it. What US new? Right, 430 00:28:03.319 --> 00:28:04.920 let's come and speak to me, and there is two choice you can 431 00:28:06.000 --> 00:28:07.799 make. The other selves. person you do what you just said, Pitt, 432 00:28:08.200 --> 00:28:12.319 which is you really go and you speak about the market, you speak 433 00:28:12.359 --> 00:28:15.559 about the issue, you speak about what you're seeing, you speak about the 434 00:28:15.680 --> 00:28:19.400 shift. You didn't bring them value and what people are seeing when they go. 435 00:28:19.920 --> 00:28:22.440 This is the old one and this is the new world, right, 436 00:28:23.400 --> 00:28:27.839 this is what happened in the new world and this is the benefit of being 437 00:28:27.880 --> 00:28:30.839 in the new world. You can say in the old one, that's okay, 438 00:28:30.319 --> 00:28:33.920 right, but then you create that scarcity, that sort of do you 439 00:28:34.039 --> 00:28:37.160 want to move because the cool kids are going that way, right, or 440 00:28:37.200 --> 00:28:41.039 do you want to stay that one? Which is fine. But when you 441 00:28:41.160 --> 00:28:45.359 do that, I think you empower people. You can almost rewrite a story 442 00:28:45.440 --> 00:28:48.759 in their head that they can then bring to their management. That story maybe 443 00:28:48.799 --> 00:28:52.440 will make them look good. You know, intail information, stats on what's 444 00:28:52.440 --> 00:28:56.720 opening in the market. This is what every single Bayoy is looking for. 445 00:28:56.279 --> 00:29:00.200 If you actually give them that, which will then put to sell to them, 446 00:29:00.279 --> 00:29:03.960 because you you actually give them a munition to go and look great and 447 00:29:04.160 --> 00:29:07.680 know, and you are right, you should never tray to send with the 448 00:29:07.759 --> 00:29:12.279 objective of Selly, but with, if you got a real fashion about solving 449 00:29:12.359 --> 00:29:15.799 the pain. I think that's what that's that's where you should focus. Or 450 00:29:15.880 --> 00:29:21.319 this is a that in itself a really good point, because you mentioned ICP 451 00:29:21.559 --> 00:29:26.920 earlier and they will, in any markets, think about what most founders, 452 00:29:26.960 --> 00:29:30.359 when they look at the total addressabul market, they will be able to explain 453 00:29:30.480 --> 00:29:36.240 to a BC or whoever that there the market is huge, like it's worth 454 00:29:36.359 --> 00:29:40.480 billions, even trillions of dollars. That could be true over time. The 455 00:29:40.599 --> 00:29:45.599 properly comes when they try to address that market and the trick is to find 456 00:29:45.759 --> 00:29:51.279 the very small group of customers who are going to love the way you solve 457 00:29:51.359 --> 00:29:53.559 the problems so much that not need to they buy from you, but they 458 00:29:53.640 --> 00:29:56.839 stay for a long time. You know, we know in sis what's more 459 00:29:56.920 --> 00:30:00.119 important than selling the business is hold nuns of the business that you've got, 460 00:30:00.200 --> 00:30:03.319 because that's how you get the orchistic curve, that's how you get good and 461 00:30:03.400 --> 00:30:07.119 at dollar attention. You know that the measure that says that this is a 462 00:30:07.279 --> 00:30:11.880 product that has pullut market bit. But the problem comes when we sell to 463 00:30:11.920 --> 00:30:15.359 the wrong type of customer and when you sort of the wrong type of customer 464 00:30:15.640 --> 00:30:18.839 but you sort of solve a bit of their problem. Sales guys sometimes a 465 00:30:18.960 --> 00:30:22.640 motivated to sell to anyone because I need to make my quota. So like 466 00:30:22.759 --> 00:30:25.799 please buy for me. But that's the wrong way to think about it. 467 00:30:25.920 --> 00:30:30.920 And getting an ideal customer profiles that you focus in on a co orper of 468 00:30:30.119 --> 00:30:36.359 organizations that all share the same traits. They all behave in the same way, 469 00:30:36.440 --> 00:30:38.480 they think in the same way. You mentioned earlier that you're one of 470 00:30:38.519 --> 00:30:41.920 those people. I'm the same that you like new gadgets, you like new 471 00:30:42.000 --> 00:30:45.839 stuff. So I give you an example. I'm wearing one of these it's 472 00:30:45.880 --> 00:30:48.079 a further ring. You probably know about them. It's the new one, 473 00:30:48.559 --> 00:30:52.920 so they're not some of the features where even be available to the summer. 474 00:30:52.400 --> 00:30:55.559 I'm okay with that. If I'm a woman, it put it in my 475 00:30:55.640 --> 00:30:56.720 periods. Not yet, not till the summer. It can't do that. 476 00:30:56.960 --> 00:31:00.039 I'm okay with all that because I like being an earlier dopt. I like 477 00:31:00.160 --> 00:31:04.599 buying stuff that's new. Equally, there are plenty of customers out there that 478 00:31:04.640 --> 00:31:08.000 are going to wait a long time and buy a much later in the process. 479 00:31:08.079 --> 00:31:11.880 You know when it's cheaper, when it's proven to work, when it's 480 00:31:11.200 --> 00:31:15.480 one in its category. My files in laws a great example here. I 481 00:31:15.599 --> 00:31:18.359 remember a couple of years ago, in buying a DVD player for a nineteen 482 00:31:18.400 --> 00:31:22.400 pounds. Ninety nine, ads to like, you know, the UK's version 483 00:31:22.400 --> 00:31:23.799 of Walmarts, and I'm like, why are you buying a dvd play like 484 00:31:23.880 --> 00:31:27.480 everyone else is using Netflix and Amazon prime. It's like, well, it's 485 00:31:27.559 --> 00:31:32.559 not buy one before. So I lack a really slow to buy. If 486 00:31:32.799 --> 00:31:34.400 you and I were to go out and so making phone calls and you know, 487 00:31:34.440 --> 00:31:37.000 I was cool you and I was cool my father in law. There's 488 00:31:37.000 --> 00:31:41.039 a good chance I'd sell you a new technology. I'm never going to set 489 00:31:41.079 --> 00:31:44.240 him a newt anology doesn't. We block a move and you got move them 490 00:31:44.279 --> 00:31:47.160 on their and that's well, you know, you've got to move on from 491 00:31:47.240 --> 00:31:49.960 the people at would do not understand the pain. They will be organization and 492 00:31:51.000 --> 00:31:52.880 say, you know what, we don't want to move, we are comfortable 493 00:31:52.960 --> 00:31:57.400 where we are. You have countries, well, maybe Germany and France. 494 00:31:57.519 --> 00:32:00.640 You know, people stay in job for ten years, fifteen years. There 495 00:32:00.759 --> 00:32:04.759 is a reason behind that. The reason why they don't move is probably because 496 00:32:04.759 --> 00:32:07.480 it don't take a lot of risk, but they'll bit risk ad well. 497 00:32:07.640 --> 00:32:09.440 So how do you get these people to chat? Then you need to look 498 00:32:09.440 --> 00:32:13.359 at the type of organization you know. Do you do I want to go 499 00:32:13.519 --> 00:32:15.559 and sell to in forst, for example? Do I want to go and 500 00:32:15.640 --> 00:32:21.240 start the sales process with BNP Pariba? I'd actually quite you know, a 501 00:32:21.359 --> 00:32:24.240 child, but not the worst one. What do I want to speak to? 502 00:32:24.480 --> 00:32:30.279 One of those new online pain like the Monsoor revolute type of people who 503 00:32:30.319 --> 00:32:34.920 are, you know, bunch of kids, very ta codentated dose guys wants 504 00:32:35.079 --> 00:32:38.319 take the the curve much quicker than the other the idacy intake. They want 505 00:32:38.359 --> 00:32:40.319 to be. They want to be you bids, they want to be the 506 00:32:40.359 --> 00:32:44.880 fells gay to use it. They are not scared about using new technology and 507 00:32:44.920 --> 00:32:46.720 the technology at fully walking, but they will develop at they can, you 508 00:32:46.759 --> 00:32:50.279 know, have the ipacked on our it goes, etc. Etc. So 509 00:32:51.160 --> 00:32:53.400 you've got those two spectrums. You have to move on from the people that 510 00:32:53.920 --> 00:33:00.119 can. That count move with you. But I think the point that men 511 00:33:00.200 --> 00:33:05.119 it is the most important is that I don't get it when, if you've 512 00:33:05.119 --> 00:33:08.039 got the first meeting with an organization and yourselves person, the first thing you 513 00:33:08.160 --> 00:33:12.640 do is to take your lap about and do demo like you know, expecting, 514 00:33:12.680 --> 00:33:14.799 look, this is so good that, when you see it's going to 515 00:33:15.480 --> 00:33:17.559 why don't you spend some times? This is an opportunity to speak about the 516 00:33:17.640 --> 00:33:22.640 industry. This is an what e's on? What's walking was not working? 517 00:33:22.920 --> 00:33:25.720 This is an opportunity for you to probably ask the question on the sound. 518 00:33:25.799 --> 00:33:30.480 Really well, the pain is because you know, sometimes people refrain the pain, 519 00:33:30.160 --> 00:33:34.880 okay, and they may have a different aspective as towards painful versus that 520 00:33:35.000 --> 00:33:37.799 painfully. We could speak about pain S, thresholds on that zero, hundred 521 00:33:37.799 --> 00:33:40.599 and fifty and you go to someone a sell Oh my God, my adeck 522 00:33:42.240 --> 00:33:45.839 that. That's fifty right. Some other people's are attack. That's fine. 523 00:33:46.000 --> 00:33:50.960 I'm a I'm a functioning alcoholic and I work with them for the last time 524 00:33:51.000 --> 00:33:52.279 for the last twelve ye hours. That's cool, I can deal with it. 525 00:33:52.400 --> 00:33:55.079 It's no problem. So I think the stresshold is different than you've got 526 00:33:55.119 --> 00:34:00.039 to appreciate that. But going there it's almost like a doctor. You go 527 00:34:00.160 --> 00:34:04.519 to a doctor, Alison Shoh it, don't say your world, don't say 528 00:34:04.519 --> 00:34:07.920 your world. I've got exactly the pretty words. Letting Chriss through what it 529 00:34:08.039 --> 00:34:12.480 does that shoot, it get its perfects. Got Us of who your issue. 530 00:34:12.920 --> 00:34:16.000 You need to have stopt with ast you question. Looked at the fake 531 00:34:16.519 --> 00:34:22.519 is. There is no presentation. But what I think is difficult, though, 532 00:34:22.639 --> 00:34:24.280 at the other end, because I think we both a great is the 533 00:34:24.480 --> 00:34:30.320 right things to do, the difficulty that they've seen clients face, seeing, 534 00:34:30.440 --> 00:34:32.199 because I think a lot of people would agree that it direct thing to do. 535 00:34:32.840 --> 00:34:37.599 A lot of people may not agree because this will think now seals process 536 00:34:37.679 --> 00:34:39.800 needs to be friction less. Friction less. We need to be the sells 537 00:34:39.840 --> 00:34:44.119 forcecom of tomorrow. We had to be the SELFS now of tomorrow. But 538 00:34:44.599 --> 00:34:46.360 I think we need to be very established to be really able to have a 539 00:34:46.400 --> 00:34:50.440 process that is friction les as well. You've got to down the more boom 540 00:34:50.480 --> 00:34:52.239 boom, boom, boom, boom boom. How do you find the sales 541 00:34:52.320 --> 00:35:00.039 people and train them to have those no safety net conversation because, quite frankly, 542 00:35:00.719 --> 00:35:02.760 it takes a specific type of people to be able to sit down in 543 00:35:02.800 --> 00:35:07.320 a seal level offee. So I deputy see level and actually speak about the 544 00:35:07.400 --> 00:35:13.280 industry and speak with speak about that business. So do you have stories or 545 00:35:13.360 --> 00:35:19.159 lifetime example of people who've been able to scale good quality sells, people who 546 00:35:19.239 --> 00:35:22.239 can have those good important conversation because that's that's an issue that they see in 547 00:35:22.320 --> 00:35:24.960 the market? Yeah, well, actually, you know, I would in 548 00:35:25.079 --> 00:35:31.039 my opinion, the quickly you can find process and predictability the better. The 549 00:35:31.159 --> 00:35:35.440 examples you give of service now and sales force. The way I would be 550 00:35:35.559 --> 00:35:39.280 thinking about predictability as a venue leader in one of those market leading huge the 551 00:35:39.400 --> 00:35:45.800 publicly listed organizations is very different. So how I'd be thinking about predictability and 552 00:35:45.840 --> 00:35:49.519 a seed stage or sho is a business, but I'd still be thinking about 553 00:35:49.559 --> 00:35:52.679 how do I prove predictability. Well, time of a bunch of back business 554 00:35:52.719 --> 00:35:58.599 gets to serious be it needs to demonstrate it that there's enough predictability that can 555 00:35:58.679 --> 00:36:01.599 be scaled up that the capital that they're about to deploy is used in a 556 00:36:01.679 --> 00:36:07.440 good way. So that means that there will be a process that you endeavor 557 00:36:07.719 --> 00:36:12.440 to make frictionless. Of course there will always be friction of first, but 558 00:36:12.599 --> 00:36:15.280 the process will be a different one to the one you might use in five 559 00:36:15.400 --> 00:36:19.480 years time when you are large organization. So what you're looking for in the 560 00:36:19.559 --> 00:36:22.840 early stage businesses is, how is the founder doing this? Probably the founder 561 00:36:23.440 --> 00:36:28.079 generally not with a sales background, but they're succeeding. So what are they 562 00:36:28.159 --> 00:36:31.559 doing that successful? How do we bottle that and turn it into a process 563 00:36:31.599 --> 00:36:36.039 that works? Let's try with a couple of salespeople and see if that works. 564 00:36:36.440 --> 00:36:39.760 Let's identify where the problems are and then let's try and fix those problems 565 00:36:39.880 --> 00:36:43.559 until we can get to a point of view a one or two people can 566 00:36:43.639 --> 00:36:46.599 take what that found. They did so well and succeed. But I'd like 567 00:36:46.679 --> 00:36:51.960 to quickly come back to a point that we were talking about earlier. If 568 00:36:52.119 --> 00:36:55.320 we need too much magic, then probably we've got a product issue, not 569 00:36:55.360 --> 00:37:00.679 a sales issue. The sales process should be able to run with a percentage 570 00:37:01.000 --> 00:37:07.519 conversions that are, broadly speaking, predictable. Certainly during that period series a 571 00:37:07.679 --> 00:37:13.639 to be and I would argue often beforehand. Finding the right typology of sales 572 00:37:13.719 --> 00:37:15.719 person is really important then. So, to come back to your point, 573 00:37:15.840 --> 00:37:20.840 the person, the salesperson, that is successful in an early stage business isn't 574 00:37:20.920 --> 00:37:23.719 necessarily the person that is successful in a later stage business, which is very, 575 00:37:23.920 --> 00:37:29.719 very good, process driven. You do need someone who has got flare 576 00:37:30.320 --> 00:37:34.000 and creativity. I'll give you an example from Ametry, are one of the 577 00:37:34.039 --> 00:37:37.440 best salespeople that I had worked for me. I remember that we made a 578 00:37:37.480 --> 00:37:39.800 sale to love honey. So for those who don't know love honey, it's 579 00:37:39.880 --> 00:37:45.440 kind of the acceptable face of sex toys and you know, and that kind 580 00:37:45.480 --> 00:37:49.760 of that kind of stuff and advertised students. You know, that's the kind 581 00:37:49.800 --> 00:37:52.920 of branding. Anyway, she went to the meeting with them and she had 582 00:37:52.960 --> 00:37:57.599 bought in advance. She bought some penus shaped cookie cutters which she then made 583 00:37:57.679 --> 00:38:00.199 cookies the night before she went to the meeting. They loved it. Why 584 00:38:00.239 --> 00:38:04.519 did they love it? Because she did something different and unique and unusual. 585 00:38:04.840 --> 00:38:07.239 You don't need to do that if you work at sales force, but we 586 00:38:07.360 --> 00:38:09.840 needed to do that because we need something that set us apart. They'd thought 587 00:38:09.880 --> 00:38:13.480 it was kind of cheeky. It was funny. It wouldn't have worked for 588 00:38:13.519 --> 00:38:16.280 a gentleman's clothing brand, but it's certainly worked for love honey. Well, 589 00:38:16.400 --> 00:38:22.320 Theyk was that good to win. But because he next meeting they her memorable. 590 00:38:22.559 --> 00:38:25.559 So that that means that she was able to do something creative and different. 591 00:38:25.880 --> 00:38:30.280 That is useful then. So what's the learning from this? For anyone 592 00:38:30.360 --> 00:38:35.480 listening will learning is defined. You need. What is the typology of Salesperson? 593 00:38:35.559 --> 00:38:37.599 You need. Had you that quality that she that she had? I 594 00:38:37.719 --> 00:38:42.000 would call that creativity. They asked to tell a sense of humor and she 595 00:38:42.119 --> 00:38:45.800 was fearless. But really wachs create differ. It's a bit of emotional indigence 596 00:38:45.880 --> 00:38:50.119 as well. You know, people had get ring Rove it and I think 597 00:38:50.159 --> 00:38:54.000 it's a means of qualities of the individual and knowledge of the industry. You 598 00:38:54.119 --> 00:38:58.360 know, if you are it's actually that knowledge of the industry for me to 599 00:38:58.480 --> 00:39:01.239 passion for the industry. Are Passion for which you're are doing if you're really 600 00:39:01.280 --> 00:39:06.400 believing the product and you've got a passion for the problem that the this is 601 00:39:06.480 --> 00:39:10.760 solving. It is very difficult to notts get creative because you've been in so 602 00:39:10.840 --> 00:39:13.960 many of this conversation of people like yeah, we want to do that, 603 00:39:14.239 --> 00:39:16.960 but are we do you have to do that? But and then you you've 604 00:39:17.000 --> 00:39:22.159 got the response to the butts and the response to those birds. In a 605 00:39:22.199 --> 00:39:24.760 way, if you had long enough, I think they create the creativity. 606 00:39:25.000 --> 00:39:29.119 But the cookie thought is a fantastic adly, I'm going to think about that. 607 00:39:29.639 --> 00:39:31.480 That's question for you. Common mistake that you seen good to market strategy? 608 00:39:31.519 --> 00:39:36.599 What's the most common? Maybe? Why do those three mistakes that you 609 00:39:36.639 --> 00:39:42.440 see people making in the plants? Yeah, something the sales leaders frequently do 610 00:39:42.880 --> 00:39:47.159 badly is forget about marketing. They forget that you can spin up an outbound 611 00:39:47.239 --> 00:39:51.400 team, you can work really hard on building the cells to bottom a model. 612 00:39:51.559 --> 00:39:53.639 I run these models. I approve of these models. They're good. 613 00:39:53.760 --> 00:39:59.639 But place to start is how do we get demand? And the more then 614 00:39:59.679 --> 00:40:02.679 mold we have, the easier all be for our sales team to take opportunities, 615 00:40:04.920 --> 00:40:08.719 run them through a process and turn them into close business so because sales 616 00:40:08.760 --> 00:40:14.840 leaders so infrequently come from other marketing background they almost forget the one of the 617 00:40:14.920 --> 00:40:17.039 places to start is how do we get awareness about product telling the market? 618 00:40:17.079 --> 00:40:22.400 How do we get people to consider the criteria for choosing a product like ours? 619 00:40:22.679 --> 00:40:25.039 How do we get people to come to our site and demonstrate intent, 620 00:40:25.519 --> 00:40:30.599 because those people are self selecting that they're likely to be and ICP and that's 621 00:40:30.679 --> 00:40:36.880 going to be lower friction and usually lower cost. The putting a very expensive 622 00:40:36.960 --> 00:40:39.880 cells development team to really work very hard on that. So I'm very pro 623 00:40:40.079 --> 00:40:44.599 sales to beloment teams, but I would rather my selvees development team works on 624 00:40:44.639 --> 00:40:49.760 the right opportunities than the low opportunity and failing to focus on demand generation, 625 00:40:50.000 --> 00:40:54.239 is so frequently a founding go to market and go to market challenges. Thank 626 00:40:54.280 --> 00:40:58.079 you so much for that bit. Look, lots of incredible insight. Love 627 00:40:58.199 --> 00:41:00.679 love some of the stories as well. Very, very useful. If any 628 00:41:00.920 --> 00:41:05.920 of audience wants to carry on the conversation with you, are actually engage with 629 00:41:06.000 --> 00:41:07.239 you because they may have any shue, then send for his good to market 630 00:41:07.239 --> 00:41:10.400 strategy. What's the best way to get to love your pit some near email 631 00:41:10.519 --> 00:41:15.800 with Pete Dot Thee for David Dot Crosby at gmailcom Bet Dot d doc crosby, 632 00:41:16.239 --> 00:41:20.920 and I will would lie to anyone that sends me anything as all perfect 633 00:41:21.000 --> 00:41:22.519 what I was an absolute pleasure to have you on the show and, yeah, 634 00:41:22.719 --> 00:41:29.519 thank you. You've been listening to BEDB revenue acceleration. To ensure that 635 00:41:29.559 --> 00:41:32.440 you never miss an episode, subscribe to the show in your favorite podcast player. 636 00:41:34.000 --> 00:41:37.679 Thank you so much for listening. Until next time. This podcast is 637 00:41:37.719 --> 00:41:42.599 sponsored by Gong. Gong empowers your entire go to market your organization, but 638 00:41:42.800 --> 00:41:49.559 operationalizing your most valuable asset, your customer interactions, transform your organization into a 639 00:41:49.599 --> 00:41:54.360 revenue machine whilelocking reality and helping your people reach their full potential. Get started 640 00:41:54.480 --> 00:41:55.960 now at Gong dot Io.

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