Posts Tagged ‘Sales and thought leadership’

The sale has changed forever

I was recently invited by Dan Levy, the editor of Sparksheet (an ward-winning media and marketing magazine), to submit an article on thought leadership.  This article first appeared on Sparksheet this week.

For some years I have been banging on about how thought leadership is the new sales Trojan Horse i.e the way to equip sales teams with the game-changing insights they need to have the conversations with their clients that differentiate them from their
competition and set them up for the sale.  Then a few weeks ago I came across a wonderfully evocative phrase – “Content is digital bait”.

My first reaction was I wish I had come up with that. Of course I did, whenever something or someone validates our point of
view our natural reaction is to love it.

It appeared in WPPs Atticus volume 17 as a summary of The Future of Selling white paper produced by OgilvyOne Worldwide (NY) and Ogilvy & Mather (NY).  The paper delivers a telling insight into how the world of selling has changed – brands of choice are now those brands that show, through providing useful, insightful content, they understand their consumers’ issues.

From consumer to ‘contsumer’

The selling game has changed irreversibly.  The sheer weight of information available to buyers these days means the buyer is in
control.  They are less reliant on sales people and they build trust in the brand long before they come into physical contact with it.

I call them ‘contsumers’ and Sparksheet has called them ‘prosumers’.  ‘Contsumers’ are hungry for information, they seek out online as much information as possible to help inform their decision making process. And given the information available on the company website, competitors’s websites, consumer and consumer group reviews, media reviews and the like they have as much control over the flow of information as salespeople.  They have conversations with their brands via twitter, the web, FaceBook, LinkedIn and blogs let alone other consumers thus creating their own path to purchase.

Unfortunately this means salespeople are no longer in control.  Their role has changed. They need to identify where the customer is on this journey of discovery and help them.

It is the brands that best understand their customer, the issues and challenges they face and then provides them with useful, insightful content where they consume it, who are the ones rapidly becoming the brands of choice.

Content vs thought leading content

There is a distinction though between useful content and thought leading content.  Hints and tips for example about health and wellbeing, insurance, savings and retirement, the pitfalls of cross border mergers and acquisitions, etc falls into the useful content bucket.

Thought leading content is not peddling an opinion, putting out a list of hints and tips nor curating other people’s content. Instead it is a new, fresh perspective, preferably based on empirical evidence that delivers value beyond the product or service.

Thought leadership and sales

For brands to lift their content from useful to thought leading content, marketing and communications department needs to be working with their sales teams.

The better understanding the marketing team has of the day-to-day challenges the sales team faces and critically the questions their customers are asking them and their key issues and challenges, the better the thought leadership piece will be in the long run.

As the Ogilvy Paper says:  “Selling may have once been an individual event, but now it is a team sport.”

Successful selling has always been about the customer and that should never change but tomorrow’s successful salesperson is the one who anticipates their customers’ changing behavior, analyzes their needs and finds ways to solve their problems.

This goes to very crux of what thought leadership content should provide to a brand’s audiences – information that delivers insights to help them solve a problem or view their challenges in a different light all the while positioning you as the ‘go to’ expert.

Selling has changed irrevocably

“The future of selling” paper saw Ogilvy research over 1,000 selling professionals in the UK, US, Brazil and China.  One of the key findings was that 73% of those surveyed said that selling will be radically different in the next five years.  What the study found was that the key is information asymmetry – in other words the number of online and information channels a brand owns allowing it to gain a head start on another brand.

The paper says: “The new skillset required by salespeople involves creating content as digital bait, deploying social media and partnering with marketing.

“Your customers and prospects are throwing off billions of digital buying indications every day.  They signal their intentions through the search key words they use, the blogs they read, the white papers they download and the shopping baskets they fill.”

Brands not driving new content or exploring thought leadership as an option, will come second.

I am a director at Sydney-based, Cannings Corporate Communications.  You should check out my book: “Brand Stand: seven steps to thought leadership” Please follow me on twitter @thoughtstrategy or join me on LinkedIn.

Avoiding sales’ seven deadly sins – thought leadership

This is the fourth in a series of articles on how thought leadership underpins the new sales approach.

Type ‘sales mistakes’ into Google and it will spit out close to seven million articles.  Everyone, it seems, has advice on how to avoid the many and various sales traps that await the unwary sales person.

There is a way to avoid these, have your company develop a strong thought leadership point of view. Below I touch on some of the more popular sales pitfalls and identify how thought leadership can overcome these:

1.       Not understanding your prospect – is the death knell of the sale, however, used properly, thought leadership can take you well beyond a superficial understanding of the challenges and issues your prospects face and provide you with deep, evidence-based insights into these and other aspects of their business/sector they will find very useful. 

2.       Not offering real value – A thought leadership campaign, one that really does aim to provide your customers and prospects with valuable information, overcomes this very easily.  In the process it positions you as the ‘go to’ expert in your field.  Ultimately prospects seek you out for your knowledge into their issues.  There’s no better way to fill your pipeline with qualified leads.

3.       Not providing them with enough information – if your sales team is only relying on product or service information they’re going to face an uphill battle.  On the other hand your thought leadership strategy should generate focused, customer-centric content to help you avoid introducing product or service talk too early in your client conversations.  Providing them with insights into an area of their business or sector positions you as a trusted advisor in that area.  Only once you have chatted about these issues do you need to provide the solutions-based product and sales material.   

4.       Talking too much about your product or service – we all know that feeling, the more you push your company, your product or your service the more you see your prospect’s eyes glaze over.  Why?  Because it’s not about them it’s all about you.

Good thought leadership content, on the other hand, will arm you with insights about their sector or an issue/challenge in their business that can become a game changer for them and for you.  The conversation is all about them and how you can help solve their issues.

Many experienced sales people do this as a matter of course but there aren’t many that do it as part of a larger company-led thought leadership campaign.

5.       Not asking the right questions – we all know good selling is about getting them talking.  Here’s the great thing about good thought leadership material – if it has been properly researched and if it touches the lives of your prospects you will have wealth of discussion points and areas around which to ask questions.  Not only will this display your deep knowledge of their sector but you will learn a whole lot more about the company which will help further for relationship building as well as identifying potential weak spots to assist you closing the sale.

6.       Not building a relationship before trying to ‘sell them’ – you can easily kill the sale by rushing the ‘sell’ before you have built trust.  Fortunately, if you have developed great thought leadership content and you shared it readily, you would have established yourself as an expert in your field.  This investment in establishing trust through thought leadership will help underpin all sales into the future.

7.       Not maintaining the relationship – how many times are customers left to their own devices post the sale?  The great thing about good thought leadership content is it is regularly updated therefore enabling you to keep in touch with your current and past customers with stuff they find useful.  When they are ready to buy again you are their first port of call and they are psychologically vested in your brand already.

While I know there are many more deadly sins for sales people, I wanted to focus on what I believe are some of the key ones.  Ones where a strong, customer-centric thought leadership campaign can make a massive difference to a company’s sales approach and the relationship it has with its customers and its prospects.

Elsewhere in this blog you will find articles offering advice on how to arrive at a thought leadership position as well as how to take your thought leadership proposition to market.

If you have witnessed the power of using thought leadership as your sales driver, please let us know how it worked/is working.

How to fill your pipeline pre- and post-sale? Thought leadership is the answer

This is the third in a series of articles on how thought leadership underpins the news sales approach.

 Over the past few years, there has been an understandable spotlight on the sales pipeline.  Companies the world over have sent their employees on refresher and extra training courses while executives have focused intently on the health of the pipeline.

 The same questions have been asked over and over:  “What is the best way to fill our pipeline?”;  “How do we interest our target publics in our product/service during these tough times?”;  “How do we get in front of our clients and prospects and have conversations with them?”; and so on.

None of this is new.  Filling the new business pipeline is one of a company’s biggest challenges.

Most of us are aware of the 20-4-1 rule – for every 20 prospects you call, four will entertain your proposals and only one will bite.  When it comes to pipeline, we all know the drill – keep one step ahead, know your audience, have conversations, know the sector, find solutions, listen to the client, etc, etc.

The problem is that there is a new marketing and sales malaise – people are tired of being marketed and sold to in the traditional manner. 

Thought leadership will position you as the expert

What price then to have your prospects already vested in your brand because they recognise your company as the expert or ‘go to’ source for information in their sector?  This is probably not going to happen through traditional sales or marketing channels.  Rather to achieve this outcome you need thought leadership.

Thought leadership is about arming your team with the relevant insights about your or your prospect’s sector so that you can hold in-depth conversations with them about the most important challenges they face.  These conversations should be backed by a feast of interesting and relevant content backed up by supporting collateral as well as presentations, one-on-one meetings, roundtables, forums, etc.

Thought leadership is about valuable insights

What better way to drive your pipeline than by offering your prospects something they really value – information and insights about their sector, their issues, their challenges.  How refreshing to them and to your team to be able to drop the ‘hard sell’ and to have conversations that you know really matter to them and that develop even deeper insights of their business.

This is thought leadership in its truest form.  

For 10 years or more, management consultancies have filled their pipelines and generated interest from their target publics through clever thought leadership.  I’m not talking about putting out a bit of content here and there but rather through targeted thought leadership strategies that receive the right amount of senior management input as well as resources and budget.

Thought leadership delivers six key things

A good thought leadership campaign can deliver the following to your business:

1.       An alignment of your interests with your prospects showing your deep understanding of their issues

2.       Differentiation from the competition

3.       Increased credibility and an enviable position as a trusted advisor

4.       Less resistance to pricing and a vindication of their purchasing decision

5.       Creates brand evangelists from within your own customer ranks

6.       Delivers a longer-term, thought leadership conversation platform beyond the sale

Any business looking to fill its pipeline should think about taking the time and effort to invest properly into a long-term, strategic, thought leadership campaign.

A well-packaged, well-presented thought leadership campaign will deliver a refreshed and more relevant way of engaging with your clients as well as your prospects.  More importantly it will deliver a more sustainable and authentic way of filling your pipeline pre and post the sale.

Let me know if you have had any success changing from a traditional sales and marketing approach to one which is thought leadership led.  I’d love to hear from you.

Thought leadership – a marketer’s new value proposition

This is the second in a series of articles on how thought leadership underpins the new sales approach. 

In my last blog I talked about how thought leadership is the new sales pitch because customers no longer want to be sold to.  Today I cover how thought leadership can create a compelling value proposition for your customers and how you take this to market.

Five years ago thought leadership didn’t even rank as a focus for B2B marketers.  Today across numerous B2B surveys thought leadership is ranked one or two as the area of most significance for marketers.

Thought leadership is the new difference

Every sales person needs a value proposition.  Without it why would people choose your product or service?  Typically the marketing and sales chain comprised the sales and marketing guys coming up with a set of key messages which would be incorporated into the advertising and marketing collateral.  Glossy brochures, presentations, press releases, adverts, web pages, product demos, etc would be trotted out to generate sales leads.

The problem is that most of us are tired of being sold to or marketed to in this way.  Many of our customers question the validity and authenticity of these company or product centric messages.  They know that they are being ‘sold to’ and it is turning them off. 

Enter thought leadership. It is very customer-centric but more importantly it should focus on evidence-based views and opinions that deliver insights and knowledge to the customer or prospect about the specific issues and challenges they face today and into the future.

Thought leadership has a customer not a ‘me’ focus

Thought leadership is not about you and it is not self-serving gumph about your product or service – rather it is about your customer and their issues.  The content you make available to your customers and prospects should facilitate their thinking around how they can transform their business and overcome their challenges and issues.  By illuminating trends and insights that will impact their business down the track you are saying very firmly to them that you can help them get there.

Your thought leadership point of view needs to be relevant to their world and in the process you should be shifting your culture from one of ‘Hunter’ to one of ‘Trusted Advisor’.

It is a big leap for many companies and in some instances and insurmountable one.  The key lies in how you arrive at a thought leadership point of view and then how you package it and how you take it to market.

How do you share your thought leadership with your market?

If you are no longer ‘selling’, how do you get your brand out there and known to your target publics?  Unfortunately there is no one simple answer.  What I will outline are a number of tactics you can use for sharing your thought leadership.

The first step should be conducting detailed research into where your primary target publics consume information.  Without this, you can waste an awful lot of time, money and resources trying to reach them.

What follows are a list of tactics you could use – the ideas is to choose those that best match the way your target publics prefer to be communicated with.

They could include:

·         Research – driving evidence-based findings to back up your opinions on an issues which you have chosen to speak and write about.  Depending on how you frame your research, this will give you lots of great content

·         Writing – having a number of compelling written stories on your thought leadership point of view gives you a host of options including: books, press releases, opinion pieces, letters, white papers, newsletters, research summaries, fact sheets, background papers, blogs, web content and social media content for things like webinars, etc

·         Talking – great thought leadership content will arm your thought leadership champion as well as your sales team and the rest of your employees with compelling talking points centred on the issues of your customers.  It also delivers content for presentations, speeches, roundtables, one on one meetings with customers, etc.  Depending on your thought leadership point of view, you may even consider going on the speakers’ circuit.

·         Online – today much of your thought leadership content should be searchable online for two reasons.  To push you up in the search engine rankings and to position you as the expert in that field.  This should not be restricted to your website but you should examine how to leverage your content in other channels such as You Tube, Flickr, Digg, Stumble Upon, microsites, forums, Face Book, Twitter and Linked In to mention a few

·         Third party endorsers – depending on your thought leadership content you may consider employing the services of a third party endorser – someone who already carries weight in their field but who is prepared to add to the debate with qualified comment

The sale

Despite sharing all this great thought leadership material you still need someone to close the sale.  The only difference is the map of how you’ve arrived at the sale has changed irrevocably.  Thought leadership is the new way to charter the path to the sale and done well it a) distinctly differentiates you from the competition b) creates less resistance to price c) vests your prospects psychologically in the brand before they purchase, and d) vindicates their purchasing decision.

Thought leadership post the sale

Importantly good thought leadership delivers sustainability to your customer relationship that the normal sales process and marketing collateral does not.  It gives you a great platform to go back to them with new, useful information and in the process it builds advocates out of your customers. 

Question:  Are there any sales and marketing people out there who have differing views or alternatively have experienced the shift from hunter to trusted advisor?  I’d love to hear from you. 

Thought leadership – sales new Trojan Horse

This is the first in a series of articles on how thought leadership underpins the new sales approach. 

Customers no longer want to be sold to.

Instead they gather their own information through the web, social media and talking to friends and family – an approach that has fundamentally changed the way we sell.

As a result, our job as sales people should be focused on helping these customers and prospects find us when they search and then to engage them along the way with insightful, useful content that helps them manage their world and their business challenges better.  Done properly, when you do present your product or service, these customers or prospects are so vested in your brand that the sale is as good as done.

To achieve this, you first need to establish the customer at the centre of your universe.  As a starting point, you should establish a deep understanding of their needs and map out their buying personas.  Only then should you deliver the relevant insights and information this understanding has given you.

Do it properly and you will develop an intimacy with your prospects that goes well beyond the traditional sales conversations.  How?  Thought leadership is the way to achieve this.

But critically thought leadership is not about delivering your sales or marketing messages.  We all know how cold that turns us.

It’s the customer that matters not your product or service.

It is important to do everything possible to communicate your ideas in your customers’ language.  This means learning their language, their issues, their fears and their priorities.  Once you understand these you have a much better chance of delivering insights and knowledge that intersects your desire to sell with their desire to grow or find solutions to their business challenges. 

And thought leadership is the vehicle to achieve this.

Thought leadership needs to take the sales lead

To differentiate yourself from your competition and to underpin your future sales, thought leadership needs to take the lead in positioning the company as the go to source of expert information – and ultimately position you as the trusted advisor in your field.

In a paper entitled: “Thought Leadership is the New Sales Pitch”, Chad and Linda Nelson from The Basis Group point out that consumers actively seek experts who have answers or insights into their world and who, through these insights, help them manage better the world and issues they face.

Nelson says:  “When you begin your marketing efforts by establishing trust and demonstrating thought leadership, you create a new more effective entry point for your brand message.”

Thought leadership builds trust

The premise of thought leadership driving the sales lead is that customers eventually start seeking you out because of the trust they place in you based on the knowledge and insights you have shared which position you as a clear authority/trusted advisor in your field.

It is very difficult for sales people to generate a steady stream of qualified leads week in and week out but if your company or your service has been positioned as the expert in that field it becomes a lot easier to attract and nurture these leads.

It is at this point, however, that the sales person plays a critical role – converting that trust and interest in your brand or service into a sale.   

I’d love to hear about your sales experiences.  In particular I’d like to hear your stories about conversations you’ve had with customers or prospects when you were talking from a position of insight and knowledge about a challenge/issue or topic vs when you were trying to sell a product based only on the product specs? 

The next article in this series will cover how thought leadership can create an enticing value proposition and the tactics you can use to take this to market.

Five steps to excellence for thought leadership marketing

I am excited.

 I have just read Rob Leavitt’s article based on his impressions as a judge at the ITSMA’s Marketing Excellence Awards, for submissions in the Thought Leadership Marketing category.

 If you only read one article on thought leadership this year , this is the one to read. 

You can view his full article here http://www.reputationtorevenue.com/2010/07/strengthening-thought-leadership-marketing-five-steps-to-excellence.html  but I do cover all his points below because I believe they are worth repeating.

B2B thought leadership gains pace

Most marketers know that while thought leadership is a massive opportunity in the B2B space they also know that what constitutes thought leadership varies widely.  Rob points out that until five years ago thought leadership marketing was mainly the domain of the top consulting firms,.  Few B2B firms took it seriously.

But based on what Rob has seen judging the entries at the ITSMA awards this year, this has changed dramatically.

Not only does he say that the thought leadership submissions reflect a substantial increase in spending but more importantly that there has been a significant shift in the application of thought leadership as a discipline which is reflected in its impacts on customers and market influencers alike.

He goes on to identify five areas in which the best thought leadership campaigns stand out. 

The 5 steps to thought leadership excellence

The reason I am so excited about his analysis is because they reflect what I have been saying on this blog in various posts for over a year.  They are:

1.    Focus and depth: As Rob points out there are lots of companies out there who practice “random acts of content”, including sending out the occasional white papers, articles, videos, blog posts.  His concern is that with little focus or depth they are really providing little value.  Companies or individuals serious about joining the ranks of truly helpful thought leaders need to pick one or a few issues, stick with it, and go deep.

I would like to add to this by saying that to be truly successful, thought leadership should become part of the culture of an organisation.  If one looks at companies who are innovative or have research as their backbone – they don’t bolt these on.  Rather, they are an integral part of who they are how they think and it consumes the entire organisation every day.  Thought leadership should be no different.

2.    Do the research: As Rob points out, a lot of the so-called thought leadership we see is merely opinion based on experience. However, customers want evidence, and evidence usually requires research.

From what Rob has seen in the entries he concludes that the best thought leadership programs are built around serious research, including things like an analysis of existing literature, new customer surveys, and in-depth case studies.

3.    Engage and empower internally: Your organisation and your colleagues are one of the most important keys to your thought leadership campaign.  They are and should be its best ambassadors.

Given the pervasive nature of social media, more and more of your employees are engaging directly with customers, prospects, and other stakeholders online. By engaging and empowering these employees with your thought leadership position you give them something valuable to talk about over and above the obvious product or service specs and sales pitch.  More importantly if you have done your homework you are providing information and insights that hit the right spot with your prospects.

4.    Leverage your best content:  Market engagement today is about pervasive presence and ongoing conversations, not just traditional publishing and speaking. Rob says that customers want to chew over and debate your ideas, often without you and often in the virtual room. To help make this happen, he points out that you need to leverage your best thought leadership content by publishing compelling and appropriate formats across the networks and channels where your customers congregate.

He gives the example of a white paper and how you could leverage that into a short video, a blog post, an article, a customer briefing, etc.

5.    Invest in expertise: Great thought leadership programs are built around experts in the subjects at hand but also experts in research, analysis, publication, social media, and collaboration.

Rob believes that the most successful programs invest in their people in at least three ways:

·         Funding full time staff positions

·         Recruiting for necessary skills and helping existing staff develop the right skills

·         Investing in partnerships for complementary capabilities (including brand recognition, as with prestigious academics, universities, and/or outside media and research organizations).

Finally, and this is something I have trumpeted for a long time, building a successful thought leadership marketing program is a long-term process.

Rob uses the examples of McKinsey, Accenture, IBM, Deloitte who have spent years doing the research, building market presence, and refining what works. The common theme among them is that they pick key customer issues and stick with them.

They dive deep on these issues. And they invest in their people and programs. 

Rob, thanks for some of the best insights on thought leadership I have seen for some time.  I can’t wait to see the ITSMA results for the best thought leadership campaigns.

The sales pitch is dead

I love what Chad and Linda Nelson from The Basis Group have to say about sales and thought leadership in their paper “Thought Leadership is the New Sales Pitch.”  These guys absolutely get it.  It is a must read for anyone in sales and marketing.

In my all my research and writings on the topic I have come across only a handful of people who can articulate so succinctly the impact thought leadership has on selling a brand, product or service .  Dana vandenHeuvel and David Meerman Scott are two others who spring to mind.

Consumers actively seek experts

Chad and Linda point out that consumers no longer passively accept marketing information.  Instead, they actively seek experts who have answers or insights into their world and who through these insights help them manage better this world and the issues and challenges they face.  Consumers today crave relationships and resources in the form of knowledge and insights and herein lies the opportunity for selling differently.

While traditional marketing is still the bread and butter of many sales efforts, as  the Nelsons point out:  “When you begin your marketing efforts by establishing trust and demonstrating thought leadership, you create a new more effective entry point for your brand message.”

Stop pushing products and services

Very true.  But before this happens, companies need to unlearn current habits of pushing products and services down their customers’ throats.  Instead they should start demonstrating their insights, knowledge and expertise in their sector and in particular the issues and challenges facing their consumers.

Underpinning this approach is thought leadership.  There are many positive outcomes of thought leadership, I have a table illustrating these in an earlier blog post, but the ultimate outcome should always be that your customers seek you out because they trust you based on the knowledge and insights you have shared so openly with them.

Thought leadership builds trust which underpins sales

While thought leadership may not result in a quick sell, what it will do is truly cement your brand with your publics in a way that has a far deeper stickability factor.  But this is what most marketers and salespeople have difficulty getting their heads around – thought leadership does not primarily drive sales.  Rather it builds trust, takes your conversations with customers to another level so that when the time comes to present your offering they are so vested in your brand that the sale is as good as done.

As the Nelsons point out:  ”you need to be out in your marketplace talking to people, learning what they know, discussing ideas, taking the pulse of the industry to see where it’s going, responding to concerns and expanding your understanding of what is needed.  This is the best kind of leadership because it demonstrates your intimacy with your audience and your industry.” 

While there is nothing new in this and the best sales people will tell you that the best selling is all about listening, the difference is how you interpret, articulate and then package and share your insights and information.

 Thought leaders have an abundance mentality.  They share openly and freely and understand that it is not first and foremost about the sale but rather it is first and foremost about being available and being generous with your knowledge.

Only this way will take your place at the head of your industry’s table.  The sales will naturally follow.              

Great examples of two different thought leaders

In the past 24 hours I have come across two great examples of thought leadership aimed at the SME market.

The first is blogger,  Chris Brogan  http://www.chrisbrogan.com/ I subscribed to his newsletter and in his latest article, he recommended a site called Small Biz Survival  http://www.smallbizsurvival.com/ .  What struck me about both these sites was the wonderful abundance mentality when it comes to sharing useful information.  Both characteristics of true thought leaders.

For all those aspiring thought leaders out there I suggest you visit these sites to gain a view as to how powerful a) online can be as  a repository for thought leadership content, and b) how generous both sites are in the way the discuss and share solutions with their target audiences – no strings attached.

Chris advises businesses, organizations, and individuals on how to use social media and social networks to build relationships and deliver value.  Becky McRay started Small Biz Survival because as she says on her site, she is “a small town entrepreneur.  I write about small business and rural issues, based on my own successes and failures.”

Here are two thought leaders who have built a niche for themselves in their respective areas of expertise by following the basic steps of driving a thought leadership position.

If you have any other examples you’d like to share of people like Becky and Chris, please let me know.