CIOs Are More Than Just IT Buyers

Even if you believe in love at first sight, the likelihood of a marriage proposal on the first date is highly unlikely. Committing yourself to someone without getting to know him or her first is a ridiculous idea. Yet far too often companies are asking audiences to “commit” at the hint of an interaction despite knowing little about each other.

Why?

In the tech industry and according to author Tom Grant, Ph.D, companies desire early commitment, due to the industry’s “voracious appetite for leads.” As Grant explains in his report, Tech Marketers Pursue Antiquated Marketing Strategies, the “high-speed innovation” rate drives a hyperfocus on product marketing and lead generation compared to other industries.

Developing a relationship with an audience takes time and resources and can often be perceived as a distraction to the task of finding “ready to marry” prospects.  This outward-in view of marketing ignores audience needs and assumes that all audiences are the same and that all searches must indicate intent.   

However, the key to driving demand and lead generation in today’s economy is not being more aggressive and pushing harder, but rather, taking time to develop and nurture relationships.  Audiences, like dates, can sense desperation.   Perhaps the way to go faster is by slowing down and shifting the focal point from the conversion to the conversation.

We have long known that relevancy drives conversion and that conversion drives revenue.   Getting to relevancy requires us to engage with the audience to understand their unique needs and motivations.   As a result, our role changes from dictating to facilitating and understanding that it’s now on the buyer’s timeframe, not ours. 

New technologies, such as Bizo allow us to know who the audience is at the first interaction. We also know where they’ve been for 30 days (who they’ve been dating) before the conversion point, via Google Analytics new Multichannel Funnels.

We can serve up custom content through re-targeting based on audience profiles, adapt for whatever device they are using, and deepen engagement by providing specific product or brand messages that align with their journey. 

“95% of prospects on your website are not yet ready to talk with a sales rep” Source: 2011 MECLABS research

We no longer have to interrupt a buyer’s journey to gauge their interest level.   We no longer have to call a prospect to qualify them.  This can, and will happen, at the buyer’s choosing, if we let it.  

By providing something of value (e.g. relevant and personal) buyers will share their interests, desires and needs, but only if we listen, nurture and respect the relationship. According to Forrester, this intimate information is critical to creating real opportunity (leads) for the sales force.  

In the Technology Buyer Insight Study, Forrester found that, although tech has done a good job of equipping their sales force to discuss their products, they have failed to provide reps with insight into buyer’s roles and responsibilities.  Only 29% of CIO’s said that sales reps could “relate to their role”, less than a quarter (24%) of business leaders said that reps were “knowledgeable about their business.”

Still too touchy feely for you? Consider Harte Hanks’ report, Mapping the Technology Buyer’s Journey which states that the relationship with the vendor is still a top 5 consideration driver.   The first and second most important drivers are what you’d expect: 1) Meets all needs, and 2) Cost. 

Competitors can match your price, but they can’t necessary match your understanding of the buyer’s need or the relationship developed through that journey.   

This post is featured on Forbes.com

Top 5 Ways PR Can Support Sales

For the most part, sales and marketing view PR/Corporate Communications’ role to be high in the funnel. Some would even say that its focus is on “above the funnel” activities.  But if used strategically, PR activities can be very effective in playing a critical role in supporting sales.  Below are five ways PR can help the sales organization:      

1. Creating an impression – Typically thought of as a primary role of PR, but the ability to create a perception that the company plays in a “space” gets the company in the consideration set and the sales force in the door.  A few years ago, we did some research on the key consideration drivers in Tech.  The research showed that relationship with the rep was not a driver…meaning, if the customer perception is that you don’t have product/solution for their need, the rep is not getting a call. 
2. Damage control – As “they” say, “things happen”, and how the company handles it may be the difference between losing and retaining a customer.  PR can help get out in front of an issue, explain the company’s position, and help the sales force navigate what can be a difficult conversation.  Ford’s handling of the corporate bailout was masterful.  As Alan Mullaly’s peers from GM and Chrysler were taking their corporate jets to Washington to ask for a hand out, he and his team were driving from Detroit.  They said “no” to the handout and walked out with consumer confidence, which later turned into market share gains.  
3. Checking a competitor – A huge concern for sales is having a competitor leapfrog ahead with a new solution or product.  PR can create the impression that the company has a similar product or solution when in reality it may not.  Large established companies, like GE and Cisco, turn up the noise to drown out fast moving smaller competitors. 
4. Building momentum– There’s nothing better for a salesperson than a product that “sells itself.”  Creating excitement in the market for a product or solution helps generate inbound leads, which have the highest close rates.  Do you really think that the new IPhone 5 went missing…again?  It’s all about creating a buzz.
5. Enabling and managing Social Media – In certain industries, such as hi-tech, Social Media is owned by PR/Corporate Communication. This important channel for engaging with customers can provide sales with new insights into customer behaviors, needs, and motivations, but that insight has to be carefully managed as to how it is used. 

And for a bonus example – Virtual Coverage - years ago, I conducted research on how well a medical equipment company was covering small customers.  The results showed that their sales force visited customers about once every three months while a competitive sales force came by about twice as much. 
The company couldn't afford to increase the field sales force but could ramp up corporate communications.  A year later when we did the same research, this time customers said that the reps were showing up twice as often.  They weren't, but the increased communication resulted in the perception that they were seeing the reps more often.