strategic business marketing reflection
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Lecture7_s18postgrad1slide2.pdf
Session 7: Integrated B2B Marketing Communications and
Consultative Selling
Session Topics
• By the end of this session you will understand:
• The Importance of B2B Marketing Communication: – Understand the different IMC tools – Importance of L2RM – Managing the sales funnel
• How Digital Marke<ng impact B2B Communica<on – Digital trends – Options for B2B digital marketing
• Conduct a Consulta<ve Selling Skills Workshop – Profile your selling skills profile – Understand the Consultative selling process
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• Purchasing Orienta<on and Nego<a<on • Chapter 3
3 • B2B Rela<onships and Networks • Handout
4 • Market Sensing / Price value • Chapter 2
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• B2B Strategy and Planning • Chapter 4
6 • Managing B2B Products and Services • Chapter 5, 6
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• Integrated B2B Marke<ng Communica<ons and Consulta<ve Selling • Handout
8 • Business Channel Management • Chapter 7
9 • Gaining and Managing Customers • Chapter 8, 10
10 • The Digital Evolu<on in B2B • Handout
11 • Exam Briefing and Poster presenta<on
Understanding Value
Crea0ng Value
Delivering Value
B2B Marke<ng Framework
1. Regard Value as Cornerstone. 2. Focus on Rela0onship Interac0on and
Networks. 3. Focus on Business Market Processes. 4. Stress doing Business Across Borders.
Guiding Principles
Introduction
• MARCOMS are central to Porter’s generic cost-differentiation focus strategies framework & refer to four central types of media: – Advertising – Direct marketing – PR – Sales promotions
• There are two layers to explore in using these four media in MARCOMS strategy relating to: – What the client wants to ‘say’ – ‘How’ you say it
I M P A C T
All elements of the marketing mix are coordinated using push and pull techniques.
By focusing on a single message stronger relationships are developed with consumers.
More focused and single-minded messages are processed more effectively by consumers.
IMC Foundations
How Video and Mobile is Changing the Buying Process
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Manufacturer
Intermediary
End users
Product flow
Product flow
Communica<on flow
Communica<on flow
Push communication strategy
Manufacturer
Intermediary
End users
Product flow
Product flow
Communica<on flow (1)
Communica<on flow (2)
Pull communication strategy
Personal selling
Trade shows
Direct marke<ng
Sales promo<ons
Adver<sing
Public rela<ons
The elements of the Communications
Mix
IMC Definition
“A concept of marketing communications planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communications disciplines, e.g., general advertising, direct response, sales promotion and public relations-and combines these disciplines to provide clarity, consistency & maximum communications impact.”
The American Association of Advertising Agencies
Profiles of Major Media Types
The 8 Key Functions of Marketing Communication
Ø Advertising Ø Direct marketing Ø Publicity (public relations) Ø Sales promotion Ø Personal selling Ø Internet/ Social media Ø Events and sponsorships Ø Packaging
L2RM
For any B2B company, success or failure is determined by its ability to deliver on its revenue commitments. For too long, marketing organizations have been comfortable letting their sales counterparts sit alone at the revenue table. However, for tech marketing to ensure that it remains aligned with the rest of the business, it must establish clear L2RM processes (see Figure 1).
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L2RM Approach
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Lead Generation Process – Flipping The Funnel
Source: Joseph Jaffe at the Marketing Sherpa Email Summit 2010 on his new book, "Flip the Funnel".
Digital Marketing Program
https://drive.google.com/file/d/0B_fP5Qs1gcSWU0huUllqWHF3LWs/view?usp=sharing
Why Digital Marke<ng Ma^ers ?
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B2B decision makers spend 1% of the time buying.
They now spend the other 99%
researching & talking to each other.
Image Source: zharpey_row @Flickr
B2B Decision Makers
Changing B2B Buyer
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Social Media
Poll Question:
Do You Have a Profile on Any of These Social Media Tools: � LinkedIn � Facebook � Twitter � Friendster � QQ
Digital Landscape: Six areas of Opportunity
Digital Landscape: 6 Areas of Opportunity
Objectives (✓ = achieve objectives)
Resources Required (✓ = requires high level of
resources)
Timing / Logistics (✓ = requires long time/complexity)
Research & insights
Upper funnel (awarenes s/interest)
Lower funnel (desire and action)
Staff & Employees
Content & Assets
Investment Timing to Deploy
Complex: Infrastructu re/technolo gy
LISTENING ✓ ✓ ✓ ✓
SEARCH ✓ ✓ ✓ ✓ ✓ ✓ ✓
CONTENT (creation & distribution)
✓ ✓ ✓ ✓ ✓ ✓ ✓
SOCIAL ENGAGEMENT
✓ ✓ ✓ ✓ ✓ ✓ ✓
ANALYTICS (tracking & optimization)
✓ ✓ ✓ ✓
EMERGING MEDIA (mobile, virtual)
✓ ✓ ✓ ✓ ✓
Summary
• IMC for B2B has a heavy emphasis on personal selling and lead generation.
• Pull strategies are becoming important in building brands.
• Social media is becoming an important tool in the IMC mix.
• Building B2B brands is vital objective of IMC • Consultative selling skills are an important skill
fro complex sales.
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The Collaborative Selling Process Model
Selling Skills Inventory
Collaborative Selling Process Model
1. Helps gain clear picture what you do well and what you need improving in the selling.
2. The selling skills inventory will help you identify your sales strengths and specific areas that need improvement in making face-to-face sales calls.
Foundations to Collaborative Selling
1. The collaborative selling approach is a six step process.
2. Every step you must develop mutual trust and make deposits of good will in the trust bank.
3. Mutual trust underlies every step of the sales process
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What does your score mean? Ø It gives a general picture of how you use your
skills and behaviour required to conduct face to face sales.
Ø It will identify how well your specific skills and behaviour in the collaborative selling process.
Ø Your ability to use these skills affects your ability to conduct effective face to face sales calls and develop positive sales outcomes.
How to Score the SSI 1. Assume that you are the sales rep involved in
each of the 18 selling situations. 2. Read each situation and carefully think what
you would do 3. On the response form circle the letter of the
action that describes what you would do. 4. Circle one choice only. 5. Add you scores and create your profile on the
chart.
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Consulta<ve Selling Workshop
The aims of the Workshop
• TO EXPLAIN WHEN CONSULTATIVE SELLING IS APPROPRIATE.
• TO EXPLAIN THE FOUR STAGES OF CONSULTATIVE SELLING.
What is Consultative Selling?
Defined as:“Getting to grips with client needs and looking for solutions to those (business) needs in a comfortable, relaxed manner, rather than using high pressure sales techniques.”
Difference Between Consulta<ve Selling and Normal Selling
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When to use Consultative Selling?
• Consultative selling is not just relevant to business to business sales.
• It can be used in the sale of major private or domestic items.
Most people like sellers who
• Show concern for buyer’s needs. • Ask intelligent questions and listen attentively. • Relate the capabilities of their product to
providing solutions to the buyer’s needs. • Are friendly, confident and help the buyer to
purchase without being pushy.
Why should we use Consultative Selling?
• Quite simply it is the most effective way of helping a buyer make a purchase decision in your favour.
• We will sell more if we sell to them in the way that we want to be sold to.
Is Consultative Selling always Appropriate?
• No –for low-value decision purchases • Yes – for high-value decision purchases.
Stage 1
• Research • Getting the Appointment
Stage 2
• The Investigation • Problem Questions • Effect Questions
Stage 3
• The Solution • Desire for solution • Meeting the Need
Stage 4
• The Commitment • Concerns • Appropriate Commitment
Consulta<ve Selling Video
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Summary
• Consultative selling is ideal for business selling. • It focuses on understanding customer needs and
finding solutions. • It has a longer selling cycle compared to other
selling methods.
References
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