Lead Generation and Customer Focus Strategies - 2012 Sales Leadership Priorities Survey Results
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Transcript of Lead Generation and Customer Focus Strategies - 2012 Sales Leadership Priorities Survey Results
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The contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved.
growth team m e m b e r s h i p™
Co-Sponsor
Lead Generation and Customer Focus Strategies
global
®
2012 sales leadership priorities survey results
TWEET ABOUT THE SURVEYS
#2012priorities
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The contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved.
2012 survey resultsgrowth team m e m b e r s h i p™
CONTENTS
INTRO
Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Survey Purpose and Respondents . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
What is the Growth Team Membership™ . . . . . . . . . . . . . . . . . . . . . . . . 5
Sales Leadership Overarching Challenges . . . . . . . . . . . . . . . . . . . . . . . . 6
Key Sales Leadership Challenges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7SECTION
1
Respondent Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25SECTION
4
Sales Leadership Resource Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11SECTION
2
Special Interest Topic: Tools and Social Media . . . . . . . . . . . . . . . . . . . . . . 17SECTION
3
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The contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved.
2012 survey resultsgrowth team m e m b e r s h i p™
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Introduction
Sales Leadership Survey Executive Summary
SECTION 1: Key Sales Leadership Challenges
Key Internal Challenge Key Internal Challenge Root CauseImplementing lead generation strategies Insufficient personnel
SECTION 2: Sales Leadership Resource Trends
Budgets ResourcesSales typically has an annual budget under $1 million 2012 budgets will increase moderately, and staffing levels will remain
constant
SECTION 3: Tools and Social Media
Social Media in the Sales Cycle Top Social Media Platforms LinkedIn UsesSocial media is primarily used during the lead identification and qualification phases
LinkedIn is the primary social media platform for sales activities
Sales executives use LinkedIn to gather information on customer needs and boost brand recognition
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2012 survey resultsgrowth team m e m b e r s h i p™
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Introduction
Survey Purpose and Respondents
Co-SponsorSurvey PopulationMethodologyResearch Objective
To understand the most pressing external and internal challenges shaping sales executives’ 2012 planning
Web-based survey platform Manager level and above sales executives from companies globally ®
564survey
respondents
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2012 survey resultsgrowth team m e m b e r s h i p™
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Introduction
What is the Growth Team Membership™?
GTM is a subscription program that supports executives within the functions that report to the CEO
GTM provides best practices, events, and services that enable executives to address challenges within their companies
CorporateStrategy
Corporate Development
Marketing
CompetitiveIntelligence
MarketResearch
SalesLeadership
R&D/Innovation
Investors/Finance
CEO
SalesLeadership
CEO’s Growth Team™ GTM: Creating Client Value
GTM’s case-based best practices help executives:
Speed the design and implementation of initiatives by not reinventing the wheel
Save money and reduce risk by avoiding mistakes made by other companies
Accelerate problem-solving with a cross-industry perspective
Improve their functions’ and companies’ performance and productivity
[email protected] www.gtm.frost.com slideshare.net/FrostandSullivantwitter.com/Frost_GTM
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2012 survey resultsgrowth team m e m b e r s h i p™
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Introduction
Sales Leadership Overarching Challenges Sample Solutions from GTM
Lead Generation Strategies
Sales executives are struggling with identifying and qualifying high-potential leads and need a strategy for improving the overall demand generation process.
Learn how Kronos developed a demand management strategy to provide Sales with high-quality, actionable leads.
Customer Focus
Sales executives must increase their familiarity with clients so they can respond to changes in their customers’ decision-making behavior and needs.
Learn how Tandberg made customer segmentation the foundation of its customer-centric business model.
Distribution Channel PartnersCompanies tend to rely heavily on distribution channels for sales. However, due to changes in customer purchasing behavior, Sales must ensure that distribution channels are still meeting its needs.
Learn how our Distribution Channel Optimization toolkit helps you evaluate your distribution channels’ ability to reach customers and differentiate your value proposition from the competition.
What’s Keeping Sales Executives Up at Night in 2012?
Contact us at [email protected].
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2012 survey resultsgrowth team m e m b e r s h i p™
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INTRO
SECTION
1
SECTION
2
SECTION
4
SECTION
3
SECTION
1 Key Sales Leadership Challenges
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Section 1
Challenge 1 Implementing lead generation strategies (15%)
Challenge 2 Aligning the sales process with customers’ decision-making behavior (13%)
Challenge 3 Enhancing sales reps’ productivity [focusing on the highest-value activities] (13%)
Challenge 4 Integrating win/loss analysis with sales strategies (9%)
Challenge 5 Responding to pricing pressures from competitors, the market, and customers (11%)
Top Five Key Sales Leadership Challenges
SURVEY QUESTION: What are the top five functional challenges shaping your sales strategy?
Note: The respondents were asked to rank their top five challenges. The percentage values indicate how many respondents listed that particular challenge as their first through fifth challenge.
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Section 1
Respondents in B-to-B companies are focused on productivity, while respondents in B-to-C companies are focused on reacting to changes in the business environment
Top Five Sales Leadership Challenges (By Business Model)
B-to-B B-to-C
Challenge 1 Responding to pricing pressures from competitors, the market, and customers (15%)
Implementing lead generation strategies (19%)
Challenge 2 Aligning the sales process with customers’ decision-making behavior (14%)
Responding to pricing pressures from competitors, the market, and customers (18%)
Challenge 3 Enhancing sales reps’ productivity [focusing on the highest-value activities] (15%)
Leveraging tools/solutions to foster team collaboration, productivity, and performance [e .g ., tablet and mobile devices, CRM, software applications] (11%)
Challenge 4 Streamlining the sales process (10%)Identifying and responding to clients’ changing needs (13%)
Challenge 5 Integrating win/loss analysis with sales strategies (10%)
Integrating win/loss analysis with sales strategies (10%)
Note: The respondents were asked to rank their top five challenges. The percentage values indicate how many respondents listed that particular challenge as their first through fifth challenge.
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Section 1
Sales challenges are attributed to limitations in staff and processes
SURVEY QUESTION: Please indicate the root cause—staff, process, technology/systems, or strategic alignment—of your top five sales leadership challenges.
Root Cause of Top Five Sales Leadership ChallengesTop Five Sales Leadership Challenges
Challenge 1 Implementing lead generation strategies Staff: Limited resources (40%)
Challenge 2 Aligning the sales process with customers’ decision-making behavior Process: Ineffective process (26%)
Challenge 3 Enhancing sales reps’ productivity [focusing on the highest-value activities] Staff: Limited resources (26%)
Challenge 4 Integrating win/loss analysis with sales strategies Process: Inadequate communication (23%)
Challenge 5 Responding to pricing pressures from competitors, the market, and customers
Strategic Alignment: Lack of common objectives (19%)
Staff: Lack of knowledge (19%)
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2012 survey resultsgrowth team m e m b e r s h i p™
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INTRO
SECTION
1
SECTION
2
SECTION
4
SECTION
3
SECTION
2 Sales Leadership Resource Trends
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Section 2
F
F
F F F
F
0%
10%
20%
30%
40%
29%31%
25%
19%
11%9%
8%
11%9%
10%
18%20%
30%
24%
10%9% 9%
18%
Most sales departments have budgets under $1 million
2012 Sales Budgets (By Business Model)
SURVEY QUESTION: Which of the following ranges (in $USD) best describes your 2012 total sales budget (all expenditures on sales activities and general and administrative—including staff)
The red percentages are for all respondents .
Below $1 Million $1 Million to $2.99 Million
$3 Million to $4.99 Million
$5 Million to $9.99 Million
$10 Million to $19.99 Million
$20 Million or more
All Companies B-to-B Companies B-to-C Companies
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Section 2
B-to-B companies attribute a greater percentage of revenue to distribution channels or partners
Percent of Revenue Attributed to Distribution Channels and Partners (By Business Model)
SURVEY QUESTION: What percentage of your 2011 company sales were attributed to distribution channels or partnerships and alliances?
All Companies B-to-B Companies B-to-C Companies0%
10%
20%20% 20%
10%
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Section 2
Respondents foresee little to no staffing increases in 2012
Sales Staffing Changes (By Business Model)
SURVEY QUESTION: In comparison to 2011, your 2012 sales staffing will…
7%
2%
44%38%
Stay the Same
Decrease Moderately Decrease Substantially Increase Substantially
Increase Substantially
Increase Moderately
All Companies
B-to-C Companies
B-to-B Companies
7%
3%
43%37%
Stay the Same
Decrease Moderately Decrease Substantially
Decrease Substantially Increase Substantially
Increase Moderately
9%
10%
7%
2%
43% 41%
7%
Stay the Same
Decrease Moderately
Increase Moderately
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Section 2
Sales executives expect moderate budget increases in 2012
Sales Budget Changes (By Business Model)
SURVEY QUESTION: In comparison to 2011, your 2012 sales budget will…
9%
3%
14%
1%
31%
42%
Stay the Same
Decrease Moderately Decrease Substantially
Increase Substantially Increase Substantially
Increase Moderately
All Companies
B-to-C Companies
B-to-B Companies
7%
1%
32%
40%
Stay the Same
Decrease Moderately Decrease Substantially
Increase Substantially
Increase Moderately
17%
20%
30%
45%
8%
Stay the Same
Decrease Moderately Decrease Substantially
Increase Moderately
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Section 2
B-to-C companies are more likely to rate sales’ effectiveness as “Above Average”
Sales Effectiveness (By Business Model)
SURVEY QUESTION: How would you rate the performance or effectiveness of your function compared to others within your industry?
All Companies B-to-B Companies
B-to-C Companies
7% 9%
4%
49% 45%
54%
36% 39%
34%
8% 7%
8%
Above Average
Above Average
Above Average
Exceptional Exceptional
Exceptional
Below Average Below Average
Below Average
Average Average
Average
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INTRO
SECTION
1
SECTION
2
SECTION
4
SECTION
3SECTION
3 Special Interest Topic: Tools and Social Media
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Section 3
All Companies B-to-B Companies B-to-C Companies
100% Use 100% Use 100% Use
Increase sales productivity (55%) Increase sales productivity (53%) Increase sales productivity (59%)
43% Use 43% Use 29% Use
Increase sales productivity (28%) Increase sales productivity (34%)
Improve information on customer needs (24%)
Enable value-based selling to customers—focus on outcomes, not price and features (24%)
10% Use 22% Use 17% Use
Improve information on customer needs (44%)
Improve information on customer needs (50%)
Reduce sales cycle time (40%)
18% Use 20% Use 12% Use
Increase sales productivity (45%) Increase sales productivity (41%) Increase sales productivity (5%)
18% Use 21% Use 14% Use
Improve information on customer needs (28%)
Improve information on customer needs (32%)
Boost customer satisfaction and loyalty (27%)
SURVEY QUESTION: What is your company’s primary purpose for using each of the above tools?
Respondents primarily use virtual and social media tools to increase sales productivity and improve information on customer needs
Tools & Social Media Purpose (By Business Model)
Tele-presence and/or Live Streaming Video
Social media CRM (e .g ., Nimble)
Social media dashboard to manage individual activity (e .g ., Hootsuite)
Social media dashboard to manage team activity (e .g ., MediaFunnel)
Social media monitoring (e .g ., Radian 6)
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Section 3
SURVEY QUESTION: During which stage of the sales cycle do you find social media most useful?
Sales executives are using social media to identify and qualify leads
Use Social Media in the Sales Cycle (By Business Model)
All Companies 45% 23% 6% 3% 23%
B-to-B Companies 46% 26% 5% 2% 21%
B-to-C Companies 36% 21% 7% 7% 29%
Identifying and qualifying leads
Pinpointing needs and creating awareness Presenting solutions Finalizing the sale Supporting an
ongoing relationship
All Companies B-to-B Companies B-to-C Companies
Use Social Media
Use Social Media
Use Social Media50%57%54%
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Section 3
All Companies
SURVEY QUESTION: Please list the top three social media platforms (e .g ., LinkedIn, Twitter, SlideShare) you use in your sales efforts .
LinkedIn is the primary platform for social media in sales
Top Three Social Media Platforms Used During Sales (By Business Model)
B-to-B Companies B-to-C Companies
LinkedIn (69%)
LinkedIn (69%) Twitter (35%) Facebook (28%)
Facebook (18%)Facebook (17%) Twitter (27%)
LinkedIn (71%) LinkedIn (69%)
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Section 3
SURVEY QUESTION: For what purpose do you use the above LinkedIn activities in your sales efforts?
Respondents use LinkedIn to improve their understanding of customer needs and boost brand recognition
Use of Specific LinkedIn Activities
Yes Yes
Yes
Yes
Conduct individual searches Join special interest groups Actively participate in special interest groups
Create/moderate special interest group(s)
65% 72% 57% 36%
Primary Purpose:Improve information on customer needs (43%)
Primary Purpose:Improve information on customer needs (39%)
Primary Purpose:Boost brand recognition (39%)
Primary Purpose:Boost brand recognition (40%)
22
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Section 3
SURVEY QUESTION: For what purpose do you use the above LinkedIn activities in your sales efforts?
The majority of respondents are not exploring the full capacity of LinkedIn to promote company recognition
Use of Specific LinkedIn Activities (By Business Model)
B-to-C Companies
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
B-to-B Companies
Conduct individual searches Join special interest groups Actively participate in
special interest groupsCreate/moderate special
interest group(s)
66%
62%
73%
72%
58%
55%
37%
33%
Primary Purpose:Improve information on customer needs (32%)
Primary Purpose:Improve information on customer needs (52%)
Primary Purpose:Improve information on customer needs (41%)
Primary Purpose:Improve information on customer needs (46%)
Primary Purpose:Demonstrate topical expertise (36%)
Primary Purpose:Demonstrate topical expertise (46%)
Primary Purpose:Boost brand recognition (41%)
Primary Purpose:Boost brand recognition (30%)
Demonstrate topical expertise (30%)
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Section 3
The majority of CRM systems do not capture the sales force’s social media activities
Customer Relationship Management (CRM) Capture of Social Media Activity (By Business Model)
SURVEY QUESTION: Does your company’s CRM (Customer Relationship Management) system capture your social media efforts?
Yes No Do Not Use
14%
55%
31%
Yes No Do Not Use
17%
58%
25%
All Companies
Yes No Do Not Use
9%
50%41%
B-to-B Companies
B-to-C Companies
24
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Section 3
Most respondents are not using predictive analytics in their sales processes
Approach to Predictive Analytics (By Business Model)
SURVEY QUESTION: Which of the above best describes your approach to predictive analytics (the analysis of customer behavioral data to identify patterns and provide insights for customer interactions)?
All Companies B-to-B Companies
B-to-C Companies
51%
3%
58%
4%
29%
16%
49%
4%
9%
30%
18%
29%
Combination of Internal and External Efforts
Combination of Internal and External Efforts
Combination of Internal and External Efforts
Do Not Use Do Not Use
Do Not Use
Conduct Internally Conduct Internally
Conduct Internally
Outsource to Vendor Outsource to Vendor
Outsource to Vendor
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INTRO
SECTION
1
SECTION
2
SECTION
4
SECTION
3
SECTION
4 Respondent Demographics
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Section 4
Respondent Demographics
SURVEY QUESTION: Please indicate the type of enterprise, business model, and revenue that best represents your company .
N = 513
N = 513N = 522
Enterprise Type Business Model
Company Revenue
56%
3%1% 1%
5%
34%20%
11%
69%
Public
Private
Hybrid
B-to-B Company
Venture CapitalGovernment/Public Sector
Not for Profit
Below $100 Million $100 Million to $499.99 Million
$500 Million to $999.99 Million
$1 Billion to $11 Billion
More than $11 Billion0%
30%
60%
39%
20%
9%
20%
12%
Below $100 Million
$100 Million to $499.99 Million
$500 Million to $999.99 Million
$1 Billion to $11 Billion
More than $11 Billion
B-to-C Company (Indirect)
B-to-C Company (Direct)
The majority of the respondents come from B-to-B companies .
The majority of the respondents come from privately held companies .
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Section 4
Chemicals, Materials, and Food
Information and Communication Technologies
SURVEY QUESTION: Please indicate which region you are located in and which industry categories best describe your company (check all that apply) .
Respondent Demographics: Region and Top Five Participating Industries
N = 494
N = 494
0% 20% 40%
31%
29%
27%
25%
22%
IndustriesRegion
Americas
AfricaMiddle East
Other
Asia Pacific
Europe
Automotive and Transportation
Energy and Power Systems
Healthcare and Life Sciences
53%
22%
3%
1%
3%
20%