Killer app your sales force
Every decade has its iconic video games. Whether it was Pac-Man, Super Mario, Call of Duty, or MineCraft – among many others – everyone can remember the hot new game that thrilled the generation.
The platform didn’t matter. Atari, Xbox, or Wii – it was all about the game. It still is. Console makers and game designers know this well, so the competition is fierce when it comes to creating the next killer app.
But killer apps aren’t just for video game players. When developing your sales reps, a killer app—defined as “a computer application of such great value or popularity that it assures the success of the technology with which it is associated broadly”—can be transformative. In today’s world, the old ways of selling are no longer sufficient. To be successful, reps need to adopt a new, data-driven way of working.
However, this transformation does not come easily. Unfortunately, sales reps are not exactly longing to open Salesforce or PowerBi to spend a couple of “joyful” hours analyzing data, extracting insights, and defining a course of action to improve their results.
Sales reps who make the shift to this new way of selling, though, see huge benefits in both their productivity and bottom-line results. So how do you motivate all sellers within your organization to adopt this new way of working? This is where the killer app comes in—you need to codify how sellers access datasets and support the new approach with powerful use cases for increasing sales success, so that salespeople see the benefit of changing their ingrained behaviors.
What’s in the way of adoption?
There are two common arguments salespeople make as to why IT system adoption doesn’t happen.
- “I am not good at using technology, and every year a new tool comes out, I just cannot keep up.” This is only half-true. Often times, reps will reveal that they tried to open the system just once or twice, felt lost and overwhelmed by the complexity, and gave up.As one CTO described: “With IT, you need to get your hands dirty to learn and see the potential of the tool.” In this case, reps’ hands are clearly spotless.
- “I am a people person… I want to be in the field talking to clients, not entering data into the CRM and analyzing them. Sales calls is what delivers results. I am not sure how the new IT tools will help me with that.”
As one CTO described:
“With IT, you need to get your hands dirty to learn and see the potential of the tool.” In this case, reps’ hands are clearly spotless.
This second argument would be reasonable if salespeople’s roles were purely relational – however, in today’s world that is not enough. The best salespeople are great at both everything that is client-facing, and at leveraging IT tools in order to help them make better decisions about their sales activities and build better insights to communicate their unique value to each customer.[1], [2] Unsurprisingly, better value also leads to better client relationships.
Still, many companies today have to deal with a change-resistant sales force that fails to recognize the potential of the data and tools they have at arm’s reach. Most sales forces continue to work based on their intuition and what they remember from past wins. So how do you shift your people’s mindsets so that they make more data-driven decisions?
Connecting the case for change with the power of the killer app
Shifting mindsets takes time, energy, and persistence. It requires a multi-dimensional approach to change management, and often calls for multiple rounds of training, coaching, and mentoring to make changes stick.
While this may seem daunting, embarking on the journey to enable your salespeople to be more data-driven can produce incredible results. In fact, research shows that 56 percent of CEOs whose organizations shifted toward a digital transformation experienced increased revenue.[3]
So how do you get there? Combine a change management strategy with the power of killer apps is a great place to start. Begin by asking:
- What is the outcome you are trying to achieve for your salespeople? Why is better IT tool adoption the solution?
- What are possible killer apps for your salespeople to use to get where you want them to be? These can take the form of a dashboard or set of instructions on how to leverage the company’s IT tools (CRM, PowerBi, Sales Enablement, etc.)
- What are related use-cases that leverage data or insights, which will encourage sales reps to seek out IT tools and change how they work and think?
There are no easy answers. What you come up with will be contextual – it will depend on your company’s industry and unique needs. Here are two examples of organizations that have leveraged the three points above:
A global player in the paper industry wanted its sales reps to be more prepared for meetings with important clients. They created a killer app in the form of a report to better understand recent shift in SKU volume that made up the bulk of recurring orders from clients. These patterns made it possible for the rep to figure out if a competitor was aggressively pursuing the same client, or ask the client what was behind the SKU change.
A global player in animal pharma is in the process of deploying their new onmichannel strategy. Their killer app aims to provide sales reps with analytics on interactions between veterinarians and the company, which includes their engagement with communications delivered through multiple channels—emails, calls, and meetings. These insights will enable sales reps to activate the best omnichannel strategy to connect with their prospects and clients. For example, after a face-to-face visit, the rep will be able to see that a veterinarian opened 80 percent of emails, but never engaged in calls with the Inside Sales team. As a result, the rep will be able to make an informed decision about the best next touchpoint—whether it is sending an email, or following up two weeks later with another visit.
These two examples demonstrate how a killer app – and its related use case – need to be specific to each organization.
Bringing your sales force along on the killer app journey
After selecting your killer apps, it’s critical to ask, how can your organization codify it and cascade it internally to drive adoption?
- Start by listing the KPIs your salespeople care about (net sales, growth, frequency of visits, etc.) and identify the key decisions that can help improve that KPI. For example, if the KPI is sales in a specific client segment, underlying decisions might be the number of touchpoints or demos of a new product.
- Define and explain the killer apps – and their related use cases – to help your salespeople make those important decisions based on the data in the system. This can take the form of a killer-app playbook – a document encompassing all of your killer apps and their use cases for different roles in the sales force. Pro tip: define when these killer apps need to be accessed, whether at specific moments (e.g., gauging a territory’s potential at the end of each quarter) or continually (e.g., before daily visits to important clients). Doing so could, for example, provide visibility into product demos that others on the sales team have already run for a particular client, making it easier for a sales rep to more effectively allocate their time and run demos for less frequently touched clients.
- Codify an easy way for salespeople to dig into the IT system and extract the data they need for a specific use case, and build a set of steps to analyze the information. Again, this is core to the killer app and can take the form of a dashboard or a set of instructions to follow in the IT system. Keep it straightforward to avoid overwhelming the sales team: two to three killer apps and related sets of instructions will be enough to start.
- Bring your salespeople onboard, engage them to discuss why they should change (emphasize the connection between killer apps and relevant KPIs), what is in it for them (highlight success stories and the possible cost of inaction), and how to do it (leverage gamification to make adoption fun, and use recognition as an incentive to encourage implementation of the new tool). Enabling this change also means setting the sales managers up for success as internal champions and adoption coaches for salespeople.
This kind of transformation doesn’t happen overnight. It requires an iterative approach—with frequent reviews and expansion as your sales force grows in confidence—and a recognition of people’s different reactions to change, which is called an “XY Sales Transformation.” Developing this culture around sales tools will prime your team to adopt more sophisticated killer apps in the future, resulting in better planning, more insightful conversations, and higher sales performance, among many other benefits.[4]
Though it may be easier to convince someone to try a new console to play their favorite video game, creating killer apps for your salespeople can go a long way in shifting reps’ mindsets and promoting action. Eventually, IT systems adoption has largely to do with the people side of sales strategy – it is still about “getting your hands dirty.”
References
[1] A Theoretical Review of CRM Effects on Customer Satisfaction and Loyalty. Shaon, K.I.; Rahman, H. Central European Business Review; Prague Vol. 4, Iss. 1, (2015): 23-36.
[2] Sales Technology Orientation, Information Effectiveness, and Sales Performance. Hunter, G.K.; Perreault, W.D. Journal of Personal Selling and Sales Management; Vol. 26, Iss. 2, (2006): 95-113.
[3] Gartner.com/en/newsroom/press-releases/2017-04-24-gartner-survey-shows-42-percent-of-ceos-have-begun-digital-business-transformation
[4] Why Sales Reps Should Welcome Information Technology: Measuring the Impact of CRM-based IT on Sales Effectiveness. Ahearne, M.; Hughes, D.E.; Schillewaertb, N. International Journal of Research in Marketing; Vol. 24, Iss. 4, (2007): 336-349.
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In today's fast-changing business environment, excelling in Revenue Growth Management (RGM) is essential for Commercial Leaders aiming to boost revenue and profit, both now and in the future.
Unlike traditional methods that confine RGM to pricing actions, forward-looking Commercial Leaders recognize that activating a holistic, end-to-end RGM strategy that is consumer/shopper focused and customer-back, leads to more significant growth and allows leaders and teams to not only anticipate, but actively influence consumer demand and customer needs.
Historically, Revenue Growth Management (RGM) has been approached as a temporary and reactionary project, which was typically led by external experts in response to inflationary markets. This limited approach confined the benefits to a small part of the business and focused on short-term results, rather than embedding RGM as an ongoing, fundamental aspect of business strategy that could deliver sustained, long-term growth.
Today, mature RGM organizations treat RGM strategy and execution much differently, positioning the actions at the center of their strategic operations, embedding capabilities deeply within their organizational processes and ways of working. This transformation is not just procedural but is a shift that forces RGM strategy, tactics, and mindset into every action and function of the business.
Strategic integration of RGM at scale: A roadmap for success
- Build strong in-house expertise: To see the scaled benefits of RGM, develop strong capabilities within your commercial teams and intermediate understanding of your cross-functional teams. When your leaders and teams fully grasp RGM tactics and mindsets, it creates scaled-impact that can be sustained without external reliance.
- Encourage cross-functional collaboration: The effectiveness of RGM strategy and execution is only fully realized when it involves a fully cross-functional team. Promoting collaboration between sales, marketing, finance, R&D, and the supply chain enriches insights, strategy and execution feasibility, and organizational success.
- Integrate RGM strategy into key business processes: By connecting RGM directly to critical operations such as budgeting and strategic planning, you ensure that RGM principles are woven into the fabric of annual planning instead of being treated as a one-time project. This integration influences everyday decisions and guides long-term business strategies.
- Overcome implementation challenges with effective change management: Embracing a robust RGM approach involves substantial change and a shift in traditional revenue growth mindsets. Address these challenges through strong change management practices, aligning team incentives with new strategies and providing clear, successful examples of RGM in action to inspire and motivate your teams.
The competitive edge of building RGM capability across the organization:
- Encouraging innovation from Consumer-Back: It’s no surprise that RGM should be activated starting with consumer and shopper insights. When truly building a strategy from the consumer-back, you build a mindset and process that is ripe for innovation. This helps your company stay competitive and lead industry trends and demands, instead of reacting.
- Aligned decision-making for the short and long-term: A thorough RGM strategy speeds up and improves the day-to-day decision-making process of consumer and customer facing commercial teams. It helps ensure that decisions—like setting pricing strategies, choosing promotional activities, or allocating resources—are aligned with the market’s immediate needs and long-term goals for the category.
- Boosting market responsiveness: In today’s volatile business climate, the ability to swiftly adapt to market changes is invaluable. Decentralizing RGM capabilities enables cross-functional local teams to be agile to market shifts in strategic ways, turning potential challenges into opportunities, while still staying aligned to the longer-term market objectives.
- Cultivate a results-driven culture: Building RGM roles across the organization allows for greater ownership and accountability to improve revenue and ultimately grow market share. This means a greater population has a direct role to play in driving business performance and are responsible for keeping an external pulse on consumers, shoppers, and customers.
Implementing a cohesive RGM strategy, instilling the right mindsets, and providing the leaders and teams with the tools and processes needed to be successful, is no small feat. However, the revenue, profit, and market share impact can be substantial when an aligned RGM strategy is deployed at scale. This strategic commitment positions your company for enduring success and a powerful competitive advantage in today’s dynamic consumer, shopper, and customer landscape.
While small and medium-sized enterprises (SMEs) play a vital role in driving economic growth and innovation, they often face unique challenges when dealing with banks. This makes relationship banking crucial to their success. By strengthening their relationship banking models, banks can differentiate themselves from competitors by improving the support they provide to SMEs, helping these businesses overcome challenges and thrive in the marketplace. In discussions with owners of SMEs about their experiences with banks, four common concerns emerge:
- Access to credit. Obtaining financing for purposes such as working capital, expansion, or equipment purchase is a significant challenge for SMEs. Banks often perceive them as riskier borrowers due to their limited credit history, lack of collateral, or volatile revenue streams, which can make it difficult to secure loans.
- High interest rates and fees. SMEs may face higher interest rates and fees compared to larger, more established businesses due to banks' perception of greater default risk, as well as limited financial transaction volumes.
- Complex application processes. SMEs often face time-consuming and complex loan application processes, requiring extensive documentation such as financial statements, tax returns, and business plans.
- Inflexible lending terms. SMEs may struggle with inflexible lending terms, including strict collateral requirements, short repayment periods, or covenants that restrict operational flexibility. These terms can make it difficult for SMEs to manage cash flow and invest in growth.
By adopting the following approach, relationship managers can help businesses overcome these challenges:
- Advocate for clients within the bank, helping them secure financing for business expansion, capital investments, working capital growth, and asset accumulation.
- Offer guidance on optimizing cash resources within the constraint of limited capital resources.
- Provide advice on managing personal wealth accumulated through business ownership.
This approach requires a set of knowledge and capabilities:
- Business acumen—an understanding of SMEs’ unique needs and business challenges.
- Recognition of the essential role cash flow plays in small business success and an understanding of how to optimize it.
- Familiarity with the financial impact of bank products on SMEs' finances.
- Understanding of small business funding models, including the roles of owners, banks, and investors.
- Insight into the migration of SMEs to medium-sized enterprises.
Equipped with these capabilities and this knowledge, bankers can employ critical relationship management skills at four key stages:
- Planning. Gain local market knowledge and industry/sector expertise before engaging with clients.
- Discovery. Approach SMEs with a focus on their unique needs, recognizing the distinct characteristics of owner-managed and owner-financed businesses.
- Engagement. Position offerings from a client-impact perspective, rather than a bank- product perspective, addressing the specific needs and challenges of SMEs.
- Closing. Adopt a partnering approach and act as an advocate for SME clients within the bank, particularly when dealing with credit functions and decision-makers.
By focusing on these areas, banks can enhance their relationship banking model for SME customers, providing personalized support and tailored financial solutions to help small businesses succeed in a competitive landscape.
In today's rapidly evolving consumer landscape, marked by disruptive innovations and increasing competition, retail banks are facing a pivotal moment. Digital banking is here to stay – but shockingly, so too is its predecessor - branch banking. The traditional role of the branch is evolving, however, and leaders in the industry need to stay relevant in this dynamic environment by embracing key changes.
Why are branches alive and well in the digital age?
Despite the proliferation of digital channels, brick and mortar branches continue to play a vital role in retail banking. Research shows that while routine transactions are moving online, branches still remain critical to:
- Customer acquisition and retention: Branches remain the primary channel for opening new accounts and acquiring customers, particularly high-value segments.
- Personalized advice and sales: Complex and high-value products such as mortgages, loans, and investments require personalized interactions. Branches excel at providing tailored advice and converting sales opportunities.
- Trust and loyalty: Human interactions are essential to building trust and loyalty, especially when addressing financial concerns and needs.
The future of branch-level sales management
To stay competitive and relevant, sales leaders in retail banking must pivot from traditional methodologies and adopt a future-forward approach. This means:
1. Adapting to customer preferences: Sales leaders must understand and respond to changing customer behavior and preferences, thus offering a customer experience that seamlessly integrates digital and physical channels.
2. Leveraging data and analytics: Sales leaders must be able to harness the power of data to gain insights into customer behavior, preferences, and needs. This enables leaders to take a targeted and personalized approach to engaging customers.
3. Empowering sales teams: Sales leaders need to invest in the development of their sales teams, enhancing their skills and knowledge and equipping them with the right tools to deliver exceptional customer experiences.
4. Optimizing branch functionality: Sales leaders must rethink the branch model, focusing on smaller, more versatile formats that cater to specific customer needs all within the same branch footprint.
5. Innovation and collaboration: Sales leaders must foster a culture of innovation and collaboration, encouraging their teams to experiment, learn, and share best practices. Organizations should consider collaborating with fintech companies to take advantage of emerging technologies and deliver innovative solutions that better meet customer’s needs.
A call to action
Digital banking may be the future, but branch baking is here to stay. Sales leaders in retail banking who want to thrive in the future need to embrace this transformation, the integration of old and new, and reimagine how they manage their customer experience and how they meet customer needs. By adopting a forward-thinking approach, leveraging technology, and nurturing talent, retail banks can unlock new opportunities, drive growth, and stay relevant amid increased competition. Are you ready to take on the challenges and opportunities that lie ahead?
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La maggior parte delle riunioni di vendita non fallisce.
Semplicemente non porta a una decisione.
Ed è lì che si perde valore.
I clienti di oggi sono più informati, più selettivi e hanno meno tempo.
Non hanno bisogno di altre presentazioni di prodotto.
Hanno bisogno di conversazioni che li aiutino a stabilire le priorità, decidere e andare avanti.
Eppure, il 58% delle riunioni di vendita non riesce a creare valore reale.
Non perché i venditori manchino di capacità, ma perché le conversazioni non sono progettate per far avanzare le decisioni.
“I clienti non agiscono su ogni esigenza che riconoscono.
Agiscono quando qualcosa diventa una priorità.”
In questo breve executive brief scoprirai:
- Perché la maggior parte delle conversazioni informa… ma non porta all’azione
- Cosa spinge davvero i clienti a stabilire priorità e muoversi
- Come creare urgenza senza compromettere la fiducia
- Il passaggio dal presentare soluzioni al facilitare decisioni
- Cosa distingue le conversazioni che si bloccano da quelle che accelerano il progresso
Se i tuoi team stanno affrontando trattative bloccate, decisioni ritardate o un pipeline lento, questo brief ti aiuterà a capire il perché e cosa fare in modo diverso.
Scarica l’executive brief e scopri come progettare conversazioni che portano davvero a decisioni.
A maioria das reuniões de vendas não fracassa.
Elas simplesmente não levam a uma decisão.
E é aí que o valor se perde.
Os clientes de hoje estão mais informados, mais seletivos e com menos tempo.
Eles não precisam de mais apresentações de produto.
Precisam de conversas que os ajudem a priorizar, decidir e avançar.
Ainda assim, 58% das reuniões de vendas não conseguem gerar valor real.
Não porque os vendedores não tenham capacidade, mas porque as conversas não são desenhadas para impulsionar decisões.
“Os clientes não agem sobre todas as necessidades que reconhecem.
Eles agem quando algo se torna prioridade.”
Neste breve material executivo, você vai descobrir:
- Por que a maioria das conversas informa… mas não gera ação
- O que realmente faz os clientes priorizarem e avançarem
- Como criar urgência sem prejudicar a confiança
- A mudança de apresentar soluções para viabilizar decisões
- O que diferencia conversas que estagnam daquelas que aceleram o progresso
Se suas equipes estão enfrentando negócios estagnados, decisões atrasadas ou um pipeline lento, este material vai ajudar você a entender o porquê — e o que fazer de diferente.
Baixe o material executivo e aprenda como desenhar conversas que realmente impulsionam decisões.
La mayoría de las reuniones de ventas no fracasan.
Simplemente no llevan a una decisión.
Y ahí es donde se pierde el valor.
Los clientes de hoy están más informados, son más selectivos y tienen menos tiempo.
No necesitan más presentaciones de producto.
Necesitan conversaciones que les ayuden a priorizar, decidir y avanzar.
Y, sin embargo, el 58% de las reuniones de ventas no logra generar un valor real.
No porque los vendedores carezcan de capacidad, sino porque las conversaciones no están diseñadas para impulsar decisiones.
“Los clientes no actúan sobre cada necesidad que reconocen.
Actúan cuando algo se convierte en una prioridad.”
En este breve informe ejecutivo descubrirás:
Por qué la mayoría de las conversaciones informan… pero no generan acción
- Qué es lo que realmente hace que los clientes prioricen y avancen
- Cómo crear urgencia sin dañar la confianza
- El cambio de presentar soluciones a facilitar decisiones
- Qué diferencia a las conversaciones que se estancan de las que aceleran el avance
Si tus equipos están experimentando acuerdos estancados, decisiones retrasadas o un pipeline lento, este informe te ayudará a entender por qué y qué hacer diferente.
Descarga el informe ejecutivo y aprende a diseñar conversaciones que realmente impulsen decisiones.