1 Customizing Search Result In SharePoint 2013 Chaitra Gopalakrishna.
New Business Developmentsalesthoughtleadership.org/wp-content/uploads/2014/06/New-Busine… ·...
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New Business Development
Moderator: Eli Jones, Dean & Sam M. Walton Leadership Chair, Walton College of Business, University of Arkansas
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PAPER PRESENTATIONS
Should Salespeople Target Start-Ups? Examining the Advantages and Disadvantages of “Imprinted Relationships” - Tuba Ustüner, Rosemond Desir, and Joe Cannon Leveraging Social Networks to Improve Sales Prospecting Outcomes - Srinath Gopalakrishna, Andrew Crecelius, and Raghuram
Lyengar Email Negotiations in B2B Selling: Dynamic Use of Textual Cues as Influence Strategies - Jagdip Singh, Detelina Marinova, and Sunil Singh
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Should Salespeople Target Start-Ups? Examining the Advantages and
Disadvantages of "Imprinted Relationships”
Presenter: Joe Cannon, Professor of Marketing, Colorado State University
Co-authors: Tuba Üstüner, Assistant Professor of Marketing, Colorado State University & Rosemond Desir, Assistant Professor of Accounting, Colorado State University
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1. Start-Up Businesses – We begin a relationship at
buying firm’s founding
2. Small Businesses – Customers established –
already purchasing electronic components.
– We pursue for new designs and/or to replace an incumbent supplier.
Case of Electronic Component Distribution: Sales Force Effort
Electronic Component Distribu2on Co. (ECD) collaborates with customers on component design. ECD works with electronics manufacturers that build components it co-‐designs with customers. Customers
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ECD CO. CASE: DISTRIBUTION CHANNEL
Electronic Component Distribu;on Co.
Electronic Component Suppliers
Start-‐Up Businesses
• Collabora;on & design
Small Businesses
• Collabora;on & design
• Take away business
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1. Start-Up Businesses – We begin a relationship at
buying firm’s founding
2. Small Businesses – Customers established –
already purchasing electronic components.
– We pursue for new designs and/or to replace an incumbent supplier.
WHO SHOULD YOUR SALESPEOPLE TARGET?
Electronic Component Distribu2on Co. (ECD) collaborates with customers on component design. ECD works with electronics manufacturers that build components it co-‐designs with customers. Which customers do we target? Why?
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• Case study • Research questions & hypotheses • Theory • Research method and data • Findings • What have we learned?
AN AGENDA
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• Do founding characteristics matter for buyer-supplier relationships?
• What are costs or benefits to imprinted customer relationships?
RESEARCH QUESTIONS
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ANIMALS “IMPRINT” ON THE FIRST THING THEY SEE
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ANIMALS “IMPRINT” ON THE FIRST THING THEY SEE
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ANIMALS “IMPRINT” ON THE FIRST THING THEY SEE
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• Founding conditions and…
– Fraternities – Employment relationships
ORGANIZATIONS HAVE ALSO BEEN FOUND TO IMPRINT
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• Imprinted customer - a marketing relationship where a supplier establishes a relationship with a customer at the time of the customer’s founding.
• What could be imprinted on customers in
founding relationships?
ARE “IMPRINTED CUSTOMERS” DIFFERENT?
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H1: Imprinted customers make greater relationship specific investments.
H2: Imprinted customers are more loyal.
H3: Imprinted customers are more profitable.
H4: Imprinted relationships are more resilient during an economic downturn.
H5: Controlling for relationship specific investments, loyalty, and higher discounts, imprinted customers generate higher customer equity for suppliers.
HYPOTHESES
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• Data – Financial and relationship measures from 361
customer relationships – Quarterly data over four years
• Measures – Whether a customer is imprinted, – Size of customer wallet, – Share of customer wallet, – Net sales billed to this customer, – Gross profit, – Customer investments in relationship specific assets,
& – Customer loyalty.
RESEARCH METHOD
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• Analysis – Time series regression
ANALYSIS
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H1: Imprinted customers make greater relationship specific investments. (preliminary support)
H2: Imprinted customers are more loyal. (preliminary support)
H3: Imprinted customers are more profitable. (preliminary support)
H4: Imprinted relationships are more resilient during an economic downturn. (preliminary support)
H5: Controlling for relationship specific investments, loyalty, and higher discounts, imprinted customers generate higher customer equity for suppliers. (preliminary support)
RESULTS
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Practice • Directing sales force territory development
– Rewards specific to “imprinted relationships” – Sales managers may utilize quotas, commissions,
and bonuses may wish to incentivize salespeople to direct more effort to building “imprinted relationships.”
Theory • First application of organizational imprinting in the
marketing literature. • The results show support for the imprinting
process and suggest an institutional driver of customer equity and loyalty.
WHAT HAVE WE LEARNED?
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WHAT DO WE HAVE YET TO LEARN?
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IN THE END, WE ALL WANT TO BE THE BIG DOG!
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• Questions? • Comments
REACTIONS?
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Leveraging Social Networks to Improve Sales Prospecting Outcomes
Presenter: Srinath Gopalakrishna, David and Judy O'Neal MBA Professor, University of Missouri Co-authors: Andrew Crecelius, Doctoral Student, University of Missouri Raghuram Iyengar, Associate Professor, The Wharton School, University of Pennsylvania
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Daun2ng Dreadful Dilemma
Sales Prospecting
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Networking
“Build Centers of Influence”
“Get Referrals”
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Research Questions
Network
Prospec2ng Outcomes
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Network Terminology (Measures)
E
A
A
A
E
AA
AA
E
A
A
A
E
A
A
A
E
A A
A
Size Density
Diversity
Average 2e strength
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Research Context
Insurance Company
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Data Collection Components
Agent Survey “Sociometric” questions Strategic expenditures Personality
Company databases “Who” “Where” Quoting activity
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ρ = -0.15**
Prop. New Business
Prop
. Hig
h Q
ualit
y
0% 100%
100%
0%
Quoting: The Trade-Off
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E
A
A
A
E
A
A
A
A Network Size
+
Acquisition Retention
+
Results: The Network
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Density
++
E
A
A
A
E
A
A
A
Acquisition Retention
Results: The Network
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Diversity
+0
E
A
A
A
E
A
A
A
Acquisition Retention
Results: The Network
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Tie Strength
++
E
A
A
A
E
A A
A
Acquisition Retention
Results: The Network
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Remaining Questions:
Types of networks? Pros / Cons?
Latent Class Segmentation Analysis
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Network Type 1
E
A A
A
A A
The strategic networker
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E
A A
A
A A
The clique networker
Network Type 2
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E
A A
A
A A
The power networker
A A
Network Type 3
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E
A
A A
The wallflower
Network Type 4
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Model-Predicted Prospecting Outcomes
NEW, L. QUAL
EXISTING, H. QUAL
NEW, H. QUAL
EXISTING, L. QUAL
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! The network matters!
! Structure
! Composition: Who you know
! Distinct network types
Summary
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Influence Strategies in Email Negotiations during B2B Selling
Presenter: Sunil Singh, Doctoral Student, University of Missouri Jagdip Singh, AT&T Professor, Case Western Reserve University Detelina Marinova, Frances Ridge Gay Professor and Associate Professor of Marketing, University of Missouri
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B2B EMAIL NEGOTIATIONS
Challenges
• Lean
• Flat
• Restrictive
• Verifiable
• Depth
• Creative
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INFLUENCE STRATEGIES IN B2B EMAIL NEGOTIATION
Recommendation
Promises
Ingratiation
Assertiveness
Information Sharing
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INFORMATION SHARING
Information Sharing
Provide relevant facts, data, product specs, and solution/contract related information
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RECOMMENDATION
Recommendation
Provide logical arguments to suggest superior quality of one’s solutions
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INGRATIATION
Ingratiation Increase one’s attractiveness towards others (e.g., customers)
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PROMISES
Promises
Provide an explicit offer to fulfill a future action
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ASSERTIVENESS
Assertiveness
Provide a call for action on the part of others (e.g., customers)
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WHAT WE KNOW ABOUT INFLUENCE STRATEGIES
Nothing using emails
No universal “truth” – Effectiveness of influence strategies varies by buyer orientation/seller ability
Hard strategies (assertiveness) produce positive outcomes (under some conditions)
Soft strategies (recommendation) produce negative outcomes (under some conditions)
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RESEARCH SETTING
Industry: Heavy Equipment Manufacturing with annual sales of ~ $ 2 Billion
Firm: Top Tier with annual sales of ~ $ 100 Million
Customers: Utilities, Oil & Gas, Mining
Data: Unfettered access to all salesperson emails Survey of salespeople behaviors Interviews/Inputs from sales leaders
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DATA CHARACTERISTICS: 31 PROJECTS
12
19
LOSS
WIN 71 268 751
Min Avg. Max
29 195
455
Min Avg. Max
# of Emails
Duration of Projects (Days)
7 29
52
Min Avg. Max
6 16 44
Min Avg. Max
0 8
114
Min Avg. Max
0 12
185
Min Avg. Max
Duration Between Emails (Days)
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CUSTOMER CHARACTERISTICS
12
19
LOSS
WIN 2 11
30
Min Avg. Max
2 7
20
Min Avg. Max
Relationship Length (Years)
8 11
Yes No
Preferred Vendor
3 9
Yes No
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SALESPERSON CHARACTERISTICS
12
19
LOSS
WIN
18
1
Male Female
8 2
9
31-40 41-50 51+
12
1 6
1-5 6-10 10+
9 3
Male Female
2 4 6
31-40 41-50 51+
7
1 4
1-5 6-10 10+
Gender Age (Years) Tenure with Firm (Years)
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EMAILS AS DATA: ANALYTICAL CONTRIBUTIONS
Expert Input (hypothetical emails for
each strategy)
Unique Word Pairs (for each strategy)
Influence Library
(corpus, proximity, conjugates)
Machine Learning Tools
(automate, accuracy, update)
Dynamic Model (time varying, levels,
combinations)
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INCIDENCE OF INFLUENCE STRATEGIES PER EMAIL
12
19
LOSS
WIN
Information Sharing
1.37
0.06 0.34 0.41 0.24 0.38
2.04
0.11 0.23 0.33 0.29 0.58
Assertiveness Strong Ingratiation
Weak Ingratiation
Recommen- dation
Promises
Information Sharing
Assertiveness Strong Ingratiation
Weak Ingratiation
Recommen- dation
Promises
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DO INFLUENCE STRATEGIES HELP WIN CONTRACTS?
-8
-4
0
“Win” Index
0
12
24
Information Sharing Intensity Recommendation Intensity
-8
0
8
0
3
6
“Win” Index
Promise Intensity Assertiveness Intensity
1 2 3 1 2 3
1 2 3 1 2 3
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DO INFLUENCE STRATEGIES HELP WIN CONTRACTS?
-8
-4
0
0
12
24
Information Sharing Intensity Recommendation Intensity
“Win” Index
-8
0
8
0
3
6
Promise Intensity Assertiveness Intensity
“Win” Index
Alone Combination
1 2 3 1 2 3
1 2 3 1 2 3
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HOW INFORMATION SHARING WORKS
Information Sharing effect on Winning
Ingratiation Intensity
-2
-4
0
-1.4
-2.1
-2.7
-.8 -.8
1 2 3 0
-2
-4
0
1 2 3 0 Promise Intensity
-1.1 -1.3 -1.5
-.8
Weak Ingratiation Strong Ingratiation Promises
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HOW ASSERTIVENESS WORKS Weak Ingratiation Strong Ingratiation
Ingratiation Intensity
3
0
6
1.1
2.2
3.3
1 2 3 0
3
0
6
1 2 3 0 Promise Intensity
1.5
2.9
4.5
Promises
Assertiveness effect on Winning
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KEY INSIGHTS
Assertiveness increases “win” likelihood but only when used with promise or weak ingratiation
Information sharing does not by itself or in combination help to “win” contracts
Mixing Promises and Information Sharing is a bad idea
Weak ingratiation helps assertiveness influence but hurts information sharing influence in “win” likelihood
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PRACTICE INSIGHTS
“Wins” associated with less use of information; more use of assertiveness and promises
Information sharing best used alone; Other strategies more effective only in combination
Power of weak (not strong) ingratiation when paired with assertiveness; also, {promises + assertiveness}
Limited use of influence strategies; information strategy most common; recommendation least
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NEXT STEPS
Time varying effects (e.g., information strategy)
Negotiation process (e.g., continuous customer response modeling)
Confirm and extend (out-of-sample data)
Word-pairs that carry influence strategy (identify & test)
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Dean
NEW BUSINESS DEVELOPMENT PANEL DISCUSSION
Walton College of Business
Eli Jones Dave Hooker
Corporate Services
Clemson University
Ken Powell Sr. Director - Global Bus.
Development & Ops
Landmark/Halliburton
Lindsey Nelson VP - Sales Productivity & Talent Development
CareerBuilder
Moderator Subject Matter Expert Panelists