Challenge: Buyers of IT infrastructure shifted from buying individual products to solutions that included both products as well as managed services to maintain and enhance the solution. As these solutions became more comprehensive, the stakeholders transformed from IT and Facilities Manager to a decentralized team that also included the CIO, CFO, Business Unit Leaders and outside Consultants. A billion-dollar Managed Service Provider had to develop a strategy for engaging the transforming stakeholder group to keep deals from being stalled or lost.
Solution: During the company’s transformation of its go to market approach they completely redesigned their Lead Generation and Opportunity Management processes. They began by interviewing and surveying their customer base for insights into how they made buying decisions. The focus was on all the Companions, ensuring that they understood both how each made a decision, and how they made decisions collectively. They then made changes to the processes to better suit their Buyer’s Way.
- Lead Generation: Storyboards and campaigns were developed for various campaigns, including first ever campaigns for finance and third party consultants.
- Opportunity Management: The sales process detailed when each Companion should be engaged, and how to convince them to buy.
Results: The number of decision makers in an average deal grew from three to six after the transformation. More stakeholders were becoming involved in the design and selection of the solution. When engaged, these Buyers developed preference for the company. Keys to success included:
- 54% higher win rates due to the team’s ability to build consensus earlier with each decision maker
- 15% shorter sales cycles due to less friction from individual decision makers later in the opportunity