by scott.gillum | Sep 25, 2018 | 2018, Sales
The NFL season has begun and three games into the season Kirk Cousins is once again one of the top passers in the league. This is a position he’s enjoyed consistently over the last three seasons by throwing for more than 4000 yards a year (becoming one of only 11 to do so) as the quarterback of the Washington Redskins.
Given the success, most quarterbacks would have been content to stay in an offensive system that produced those results. Cousins, backed by his stats, moved to Minnesota in the off-season, signing a history deal guaranteeing him $84 million over the next three years. Why did Cousins change teams? Because he had leverage. Kirk knew he was a consistent and proven performer in a very tight market for experienced quarterbacks in their prime.
At a recent Gartner meeting, Brent Adamson presented information on the US labor market, along with an outlook on the demand for sales executives. As the chart below illustrates, sales organizations (on average) have to replace a quarter of the sales force each year, in what is now a very tight labor market. In fact, it now takes an average of 70 days to fill a position, an increase of close to 20 days over the last two years.
Given these facts, is it time for proven sales executives to become free agents, like Kurt Cousins? Consider this …Cousins made $44M his last two years under the franchise tag. Making close to $24 million last year, which is more than he will make this year under his new contract. For Cousins, this wasn’t just about the money. He also wanted out of Washington, a team he viewed as never really wanting him (Cousins was drafted in the 4th round of the 2012 draft by the Redskins after taking Robert Griffin III with their first pick).
Consider these two points as you think about your career. You may be making great money but are you in an environment that makes you feel valued or wanted? For a short period of time top performers have leverage in the market.
Another consideration, the other members on your team. Is your bonus tied to the performance of the team, or the company? Cousins chose Minnesota over a richer offer by the Jets because it gave him a better chance at winning a title. Minnesota not only has many offensive weapons but it also features one of the best defenses in the NFC. Is there another team out there that could offer you a better chance of success, not only now, but also in the future?
One thing is certain, the market will change. For now the demand is high and the supply is low for top performing sales executives who can consistently deliver results. Currently, there are over a million open sales positions listed in Indeed.com, close to 200,000 alone with salaries of $70,000 or more. As they say, “sales is a numbers game.” Maybe it’s time to find out what your number is worth.
by scott.gillum | Dec 27, 2016 | 2016, Marketing
‘Tis the season for Christmas catalogs. Tons of them roll into mailboxes across the country and, shortly thereafter, into recycling bins. In our house, two catalogs escape this fate but for different reasons.
I am an “all-in” fan boy of the Patagonia brand. In my opinion, Patagonia is THE most authentic brand in the world. “Worn Wear” is probably its best brand campaign ever, and “Unbroken Ground” the best product launch campaign.
I believe in the company’s causes, point of view on the world, anti-consumerism message – all of it! The catalogs are as much about adventure and causes as they are about the clothing.
The other catalog that escapes the recycling bin, at least temporarily, is Orvis. Its prominently-displayed coupons on the cover have me at “hello.” “Free money” works for me – so much so, I’m conditioned to respond to a coupon that the last time I bought something without one I developed a rash. Yes, I know the discount is baked into the price, but it works. I peruse the catalog looking for an item to apply the discount as soon as the catalog arrives.
So here’s the difference: while I spend more time reading the Patagonia catalog, I buy more from Orvis. In fact, despite my love for the brand, I don’t own any Patagonia clothing. In the business-to-business (B2B) world, I am what you would call a “false positive.” I’ll consume your content all day long but I won’t convert. And in today’s world of deep targeting and conversion-focused metrics, I might get missed.
Brand advocates, like me, are incredibly important for B2B brands. In the book, “The Challenger Customer” by Brent Adamson and others, I would be described to as a “mobilizer.” Mobilizers advocate for brands with other decision makers within the decision-making team. In fact, the likelihood of a closed deal increases dramatically if you can find one to champion your brand.
In our home, I’m the brand advocate and economic buyer and my son is the user. The reason I don’t buy Patagonia is that I believe their clothing is more of a fit for a teenager who refers to it as “Fratagonia.” I’m more the Orvis generation, but I alert my son to things I think he would like because, unlike me, he spends zero time looking at “old school” offline catalogs.
This same pattern is repeated in the business-buying world. Brand advocates will spend hours reading your content, watching your videos, and attending your events. They’ll show up in Salesforce as leads but will never advance, causing frustration for sales reps and managers. So why shouldn’t we dismiss them? They’re also the ones who will recommend your brand to a colleague who is searching for a vendor to fit a need.
The challenge has been identifying and targeting “mobilizers” as described by Adamson and his colleagues. After spending about a year trying to figure this out, we’ve discovered three “markers” that might help lead you to these mystical influencers.
- Consumption of long form content. In a world moving to shorter and shorter content, mobilizers will invest time with your content. They’ll spend the seven, or even twenty minutes, to view a video if it’s well done. And don’t take all of the long form content off the website just yet. These folks will consume and summarize key points for others. Pay special attention to time spent on the page, along with visitor viewing habits on heavier content pages.
- Repeat visits over a longer period of time. Buyers who are in the decision-making process have a tendency to “burst” visits. They’ll hit your site in rapid succession and consume a large quantity of content over a brief period of time. Brand advocates – like mobilizers – consume content more consistently over a longer period of time. Watch and track your repeat visitors, and see if they are also subscribing to your e-newsletter, attending webcasts, etc. You need to track and trend these visitors over the year (or even two).
- Sharing habits. Another trigger for tracking these influencers is the sharing of habits. They’ll share content they find to be meaningful. Take a look at consistent content sharers. Make sure you have them identified in your ABM programs. Build email campaigns with content links that are intended to travel, and watch where they land.
Make sure you can aggregate all of the activity mentioned above against a single profile. You’ll need all the data to identify mobilizers. The other homework assignment is to take a hard look at your organization and ask if you have the type of content that would create and energize brand advocates. What does the organization stand for? What is its point of view, its purpose? If it’s “to sell something” or “to make money,” you don’t have it.
by scott.gillum | Oct 29, 2015 | 2015, Sales
My first job out of college was selling office equipment. The first thing I ever learned about selling (from my very Southern sales manger) was that “Telling ain’t selling.” In layman terms, stop telling customers why they need your product and start listening to their needs.
For years this simple phase remained in my memory. It guided me as a way to engage prospects in advisory-like sales dialogue, probing for a need to sell to. But, after attending CEB’s Sales & Marketing Summit last week, where new research highlighted the increased complexity in reaching a purchase decision, I’m now considering rethinking my whole approach.
Why? Because buyers have become overwhelmed by the potential choices, and the involvement of other decision makers in the process, according to Brent Adamson, co-author of The Challenger Customer. Too much information, too many options and too many people involved in the process are making it more difficult than ever to reach a consensus, let alone a purchase decision. Given the complexity, stalled deals are no longer a sales issue; they’re a buying problem.
The question is: Are marketers contributing to that problem? Is it possible our content marketing efforts, aimed at helping buyers make an informed choice, are becoming part of the “too much” problem? According to Psychologist Barry Schwartz, author of The Paradox of Choice, too much choice often results in no choice at all.
Dr. Schwartz’s research has shown that limiting choice is often necessary to reach a decision, and/or to speed up the buying process. As he said, “When you make choice easier, or more simple, you will sell more.”
For business-to-business sales and marketers, the key is to become “prescriptive,” according to Adamson. Customers need a “trusted advisor” to help guide them through the complexity of the decision making process, in particular in driving a consistent point of view on the problem, and the best solution. Schwartz suggests focusing on the following three areas:
- Be the “expert” or “simplifier.” Help reduce the complexity of the problem, process and/or solution. Smart content should help to explain and simplify solutions to complex problems.
- Create an “anchor.” Help customers understand how to assess the value you offer. Buyers may have a hard time assessing the true value of a new purchase or a new vendor. Help them by giving them context. Find a relatable anchor comparison. Think: ”Platinum service at a standard price.”
- Understand the impact of “no decision.” If no decision is the right decision, then find a way to make it the default answer. This approach is commonly seen in software or subscription-based services where membership/licensing automatically renews.
Do we now dictate to customers/prospects? Not according to Schwartz. Asking probing questions that lead customers to convince themselves that they need your product is the path to goal attainment. Help them understand how your product/service uniquely solves their problem by guiding their path to purchase.
The words of wisdom given to me years ago were right, but given today’s increased complexity it needs an updated “Telling ain’t selling…until it is.”