by scott.gillum | Nov 2, 2021 | 2021, Marketing
It started with a simple question: why hasn’t B2B sales and marketing performance improved?
Despite advances in strategy and the industry’s massive investment in technology, the needle simply hasn’t moved over the last 10 years or longer.
Our curiosity led us to investigate this performance challenge. We noticed that our tools – mostly glorified task lists and activity trackers – were only picking up on rational factors. So we started to explore what wasn’t being tracked and discovered a “hidden buyer journey”.
As we explored buyer behaviors, motivations, and personality types, we found that purchase decisions made by buying groups were driven by individuals’ personal motivations, not titles or roles.
For two years now, we’ve been using research on buying groups and AI-enabled Personality-Based Marketing to help clients improve their sales and marketing efforts.
This eBook shares our insights and how you can apply Personality- Based Marketing to improve your B2B marketing performance – at last.
Download the E-Book now!
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by scott.gillum | Oct 1, 2021 | 2021, Marketing, Sales
Scott was a guest speaker at the WVU Marketing Horizon podcast, a sub-series of WVU Marketing Communications.
Marketing Horizons is forward-thinking, looking ahead, through the front windshield and beyond, into the marketing future. Hosted by Cyndi Greenglass and Ruth Stevens, Horizons is a podcast dedicated to looking ahead to the new ideas, technologies, tools and strategies that are emerging to help marketers navigate over the marketing horizon.
Listen here. https://bit.ly/2ZNfYpC
by Christina | Sep 15, 2021 | 2021, Marketing, Sales
As previously published on 9/9/21 in The Drum
by Scott Gillum
Estimated read time: 5 Minutes
I went for a bike ride on a trail that I’ve traveled many times but have avoided lately because of the ‘Covid crowds’.
Taking off in a southern direction on the 10-foot-wide path, my focus was on the bike computer between the handlebars. As typical, I was locked in on my speed and spin rate. Knowing the scenic path along the Neuse River well, I put my head down and focused on my performance.
That was until I ended up in a parking lot. Trying to piece together where I was and how I got there made me realize that I didn’t notice any of my typical landmarks, which then caused a bit of a panic.
Pulling my phone out to unravel the mystery, I discovered that the focus on my performance put me two miles past my usual turnaround spot. After figuring out the situation, I decided to keep my head up on the return.
As I pedaled back, I noticed that a scenic overlook, which served as an important landmark, had been expanded and recently landscaped. The biggest surprise, which was somewhat startling, was a 100-yard clearing of trees for the expansion of a housing development not more than 30 feet off the trail.
The scenario I just described is not unlike what happens with our audiences during their workday. They step on to the 10-foot path that is their job in the morning and travel it like a well-worn trail to their usual destination.
Their computers narrow their focus and attention even more, just like my bike computer. It’s a heads-down routine that often makes them oblivious to changes all around. This creates an opportunity for us to discover new insights that enable us to redefine our position and messaging that gets their attention.
A ‘locked-in’ mindset makes us vulnerable to bias and blind spots. The longer someone has been in the job or industry, the more likely they are to believe they know ‘the path’. The brain seeking to reserve ‘brain power’ moves routine tasks to a part of the brain that requires little cognitive energy. This is the reason I ended up in the parking lot on a trail I thought I knew well.
As a result, we can bring new insights to this audience. Typically, there are three fertile areas to explore:
- The unknown. This is the typically the hardest to discover, but the most powerful.
- The underappreciated. What has changed that makes something known more impactful or significant?
- The undervalued. What are they missing that may be impacting their success, their mission or their customers?
Depending on our audience’s personalities, some of these areas are more impactful than others.
For example, on the way down the path I kept my head down and focused on my performance. This very much aligns with a personality type that is career driven. We can gain their attention through messaging that alerts them to something ‘unknown’ down the path.
If that audience segment only focuses on one or two things that they believe drive their business or performance, like my speed and spin rate, what can you tell them about the importance of understanding another factor?
What is on their ‘path’ that they may be missing, like a parking lot two miles from the usual turnaround spot? What ‘unknown’ is just over the horizon that may impact their success?
On the return journey, my behavior was like another key audience that is constantly scanning the horizon for new things to share with others. They will be looking for the changes to establish ‘landmarks’ to share, like me telling a neighbor who also bikes the trail about my discovery of the construction area.
This audience segment seeks and brings new information into the organization. They’re not as focused on the ‘path’ as much as they are on what is happening around it. As a result, that typically leads them to sharing information highlighting the undervalued or underappreciated.
In both cases, the new information I gained will change my behavior and will cause me to act, which is the goal of marketing. The new construction will disrupt my biking experience. In the future I will avoid that section of the ‘path’. I also now have a new appreciation for checking the distance traveled, and occasionally picking my head up to determine where I am along the trail.
Buyers ‘lock in’ every day at work, and a message right in front of them on the well-worn path will not disrupt. They’ll ride over like a bump on the trail. To capture their attention, search off their beaten path and over the horizon. It’s what they don’t see, or realize, that matters – because no one wants to end up in a parking lot.
by scott.gillum | Aug 6, 2021 | 2021, Business Trends
As previously published on 8/5/21 in The Drum
by Scott Gillum
Estimated read time: 4 Minutes
Years ago, doctors treated gastric ulcers as a chronic disease, most likely brought on by stress or spicy foods. As a young pharma rep carrying the world’s first billion-dollar drug in my bag, I’d actively promoted how this wonder product could relieve the symptoms for their ulcer patients.
That was until the day I met a doctor who questioned why we weren’t selling a drug to cure the problem. It was a very valid point, one that would not be fully understood until a couple of years after I left that job.
Given the success of that drug, other similar products would soon follow, all for the relief of ulcer symptoms. Pharma companies followed the money, rather than investing in developing a cure.
Recently, I recalled this memory while looking at Scott Brinker’s Martech Landscape, which now includes 8,000 companies. There are companies investing millions of dollars into B2B marketing technologies that have hardly moved the needle on marketing performance – tools created to treat the symptoms of poor performance rather than fix them.
This issue has persisted for years. Performance should be improving by now, unless we’re missing something.
Here’s an example: ask a salesperson to describe their ideal buyer in detail and this is what you will likely hear. They want more buyers who are ‘risk-takers’, ‘innovators’, ‘people who are looking to make a name for themselves’ or ‘big-picture thinkers’.
What you won’t hear is prospects who are ‘technical buyers’, ‘budget holders’ or the ‘CEO’. Do you see what we are missing? Sales reps are describing personality attributes that make prospects ideal buyers, not their role, title or budget authority. The martech stack doesn’t capture those descriptors.
Still not convinced? Ask a salesperson why they lost a deal when they should have won it. You’ll probably hear “they had an existing relationship” (trust) or “they have used the solution/service in the past” (security). These are emotional decision drivers also not capturing or seen in CRM tools.
Get at the cause to find the cure
There is a buyer’s journey that is hidden. Our sales and marketing tools are not built to capture, track or provide us with insights into what to do about these ‘soft’ factors that impact deals. And it may be more important than anything we are tracking or measuring today. It’s time, like the doctor I encountered all those years ago, to ask the question of why we aren’t fixing the problem.
In 2005, a couple of Australian researchers named Barry Marshall and Robin Warren were awarded the Nobel Prize in Medicine for their work on linking the bacteria Helicobacter Pylori to the formation of gastric ulcers. They won this coveted prize after spending decades trying to convince the world of their discovery, even coming to a point where Marshall ingested H. Pylori to prove the causation to ulcers (it worked, he developed an ulcer three days later).
Marshall’s research was hugely disruptive and would eventually lead to the demise of a multi-billion-dollar therapeutic class of drugs. Their joint research in the late 80s was discredited for years, until the first drug of its type (the one I promoted) came off patent. Suddenly, gastric ulcers could be cured by prescribing a common antibiotic (which, ironically, was also manufactured by the same company).
Millions of dollars have been invested into martech tools, yet our sales and marketing performance have not improved. This industry is thriving by treating poor performance as a chronic disease – developing tools to keep the focus on extending reach and increasing scale, not on improving conversion rate or return on effort and investment.
Just as Marshall and Warren used postmortem research and forensic medicine to link the cause and effect of H. Pylori on the body, we are doing the same with breaking down deals closed, both won and lost. We are starting to get at the ‘cause’ – and to find a cure.
What we’re finding doesn’t necessarily match with the conventional wisdom of the day. Intent data may not actually show any real intent. Lead nurturing programs may be set up to nurture prospects that will never become leads. Campaigns may be targeting ‘buyers’ who are actually the exact opposite, a personality type that is more likely to kill a deal than help to close it.
It’s called personality-based marketing, and it has the promise to cure our ills… but please don’t make me ingest a lead to prove it.
by scott.gillum | Jul 15, 2021 | 2021, Opinion
10x YOUR SALES PRODUCTIVITY by Understanding The Dynamics Of B2B Buying Groups
The on demand version of the xiQ, Inc. webcast with Usman Sheikh and Scott Gillum is now available here.
*Warning: this video contains graphic examples of how we’re measuring the wrong things.
by scott.gillum | Jul 7, 2021 | 2021, Marketing, Sales
As previously published on 7/7/21 in The Drum
by Scott Gillum
Estimated read time: 5 Minutes
Selling something to someone is risky…for them, not you, especially if this is a first time purchase. You’re asking a buyer to take a risk making a decision with the organization’s money, on a vendor or solution they don’t know, with only the promise of a reward to come.
The first part of the buyer’s journey involves three things – collecting information (about vendors, solutions, etc.), defining/understanding the need/problem, and trying to mediate risk (see the first two).
The point; where there is risk, there is an emotional buyer. The rational driver of the decision making process takes a backseat to the emotional side of the brain. And now for the problem, the way we qualify and measure the quality of a lead or buyer is almost completely rationally driven.
Let’s take BANT (Budget, Authority, Need and Timing) as an example. Do they own or have access to a budget? Rational. Are they the decision maker? Rational. Do we understand their needs? Check, rational. Do we know the decision making timeframe or when the budget might be available? Check, and check.
Maybe it’s unfair to use BANT, so let’s try using Strategic Selling as a framework. Are they the economic buyer? Rational. Are they the technical buyer? Rational. Insert your own process or steps from marketing automation, ABM program, CRM platform, etc…, and you’ll come to the same conclusion.
The point is, our performance is poor and does not improve because we are not capturing half or more of the key elements of the purchasing process. We track an action or activity without understanding the reason behind it.
Downloading a white paper, attending a webinar, or requesting information may or may not indicate intent. Without understanding the reasons behind those actions, we can only use metrics based on similar actions from the past and that is why our performance is so poor. It’s also the reason why it is so difficult to improve performance.
Our metrics too often reflect rearview mirror actions, recording what happened in the past without insight into what will happen in the future. AI will begin to fill in that blank but it will be informed only by looking at what actions happened in the past as well.
We have no metrics for tracking the emotional involvement of the buyers involved in the purchase decision. And the most important of all of them is motivation.
Plenty of organizations and decision makers have needs. The question is, are they motivated to solve them. Most importantly, are they motivated to advocate for your brand or solution? The more you understand the differences in buyers’ personal preferences and motivations the more you’ll understand that the way we measure our sales and marketing activities, and performance, is incomplete.
For example, some buyers are motivated by bringing new ideas into the organization but will not advance the buying process. Others will champion ideas and drive them forward, but only if it benefits them. These behaviors ebb and flow within the corporate culture. A culture that also has its own motivations and behaviors, impacting how buyers behave within it.
And all of this is happening in real time, not in a well defined process, with rational steps neatly constructed within a linear timeline. Contributing to the challenge is the ever growing investment in the sales and marketing tech stack that chases optimization through machinery…e.g. volume. Because we can’t get better, we have to go broader.
What to Do
Sales is not just a “numbers game”, it’s also a head game, and it’s time for us to get our heads into that game. There are three steps that can help you track the “softer” side of the buying process.
- Understand that corporate culture impacts decision making – start defining the dominant corporate culture. Is it sales, product, science, engineering, etc…? Track competing initiatives inside the org that may disrupt your sales success. This will help you understand the organizational motivation and how to align your efforts. Also, as a start, see Hank Barnes insightful work on corporate culture.
- Understand that buyers have personalities which impact motivations – marketing has recognized that emotions exist in B2B and are being used to motivate audiences to take action, but this has not made its way into demand generation and sales.
- Add the right tool to the martech stack – invest in personality profiling tools like xiQ or Crystal Knows to add the emotional elements that you are currently missing.
In order to improve, we need to add “why” metrics to the “what” currently tracked. As Kurt Vonnegut put it in his novel Player Piano, “If it weren’t for the people, the goddamn people always getting tangled up in the machinery…the world would be an engineer’s paradise.” For better or worse, our buyers are people, not a role or a title, and those people are rational and emotional.
The way we have constructed our measurement systems is based on an overly rationalized process driven by legacy manufacturing management practices that seek optimization through repetition. It’s not working. It’s time to rethink the machinery so we can help ourselves from getting tangled up in it.
