Powering B2B Sales with Digital

Powering B2B Sales
with Digital
May 2020 | Sales 3.0 Leadership Summit
Jennifer Stanley, Partner
Marie Rowell, Associate Partner

McKinsey & Company 2
We live in a world of “AND”
… digital AND human
interactions seem
equally necessary to
succeed in B2B sales
@Sales30Conf @McK_MktgSales

1 Buyers have become
omnichannel; Sales is adjusting
2 Better enablement of buyers and
sellers through technology could
benefit both groups
3 Companies might consider
accelerating sales tech use cases
as a source of added value

McKinsey & Company 4McKinsey & Company 4
Omnichannel is more prevalent in B2B sales today
B2B buyers use 10+
unique channels
prefer ecommerce to
purchase and re-purchase
channels across CDJ
1 in 5
>50%
7
@Sales30Conf @McK_MktgSalesSource: McKinsey & Company 2nd biannual survey of B2B customers, “Omnichannel Sales Insights, 2019”

How effective is the remote/digital sales
model at serving customers?

46 27 27All Respondents
48
49
37
21
28
34
31
23
29
All field sales transitioned
to working via
videoconferencing/phone
Partial sales force
working via
videoconferencing/phone
FTF sales force working
in tandem with web sales
% of respondents
How effective is the new sales model at
reaching and serving customers? Less effective
More effective
About the same
Source: McKinsey & Company Global B2B Decision Maker Pulse Survey, April 2020 @Sales30Conf @McK_MktgSales

prefer a digital
interaction
1 in 2
decline in sales
rep interactions
5 %0
cite sales rep
digital touch
as trigger
20%
@Sales30Conf @McK_MktgSalesSource: McKinsey & Company Global B2B Decision Maker Pulse Survey, April 2020

prefer a digital
interaction
1 in 2
decline in sales
rep interactions
5 %0
cite sales rep
digital touch
as trigger
20%
increase in
self-service
2X
surge in mobile
apps for self-
service
ordering
11X
drop in “order
by email”
60%

prefer a digital
interaction
1 in 2
decline in sales
rep interactions
5 %0
cite sales rep
digital touch
as trigger
20%
must-do actions
to sell digitally
0+1
chance of
becoming a
sole supplier
2X
of B2B buyers purchase
from more suppliers
%40
increase in
self-service
2X
surge in mobile
apps for self-
service
ordering
11X
drop in “order
by email”
60%

McKinsey & Company 10@Sales30Conf @McK_MktgSales
benefit both groups

Digitally-enabled sales is likely here to stay
32
48
17
4NA, made no changes
Very likely to sustain
Somewhat likely to sustain
Unlikely to sustain
80%Likely to sustain
these shifts over
next 12+ months
Staying power of new sales models over next 12 months
% of respondents
Source: McKinsey & Company Global B2B Decision Maker Pulse Survey, April 2020 @Sales30Conf @McK_MktgSales

Enabling sellers through technology
When buyers interact with sales
organizations, they cite a desire for
greater access to expertise on demand
To deliver expertise, reps may benefit
from having increased access to
insight-driven analytics
and technology that enables scale and
intimacy
McKinsey & Company 12McKinsey & Company 12@Sales30Conf @McK_MktgSalesSource: McKinsey & Company 2nd biannual survey of B2B customers, “Omnichannel Sales Insights, 2019”

37%
Fast Growers
53%
Slow growers
Fast growers effectively use advanced analytics
@Sales30Conf @McK_MktgSalesSource: McKinsey & Company Marketing and Sales Practice; sales growth and tech research

Advanced
analytics can be
used to score a
lead’s potential,
helping reps
prioritize efforts
Consider using
multiple sources
to enrich leads with
relevant information,
simplifying this task
for the sales rep
96
Lead Management

Sales Engagement Enablement
Consider
automating some
tasks to free up
time for reps
Provide
recommendation
and real-time
feedback
CPQ
Conversation analyticsPlaybooks
Content management
Contract
Management

Full data visibility of
sales funnel,
opportunities,
and forecasts
Monitor activities and
their impact in real-
time against forecasts
Performance Management
WeeklyDailyMetric dashboard: rep daily view
79%
118%
109%
YTD %
120
Rolling
Rolling
Payout
Through Nov
Aug - Nov
Aug - Nov
Unique attempts Connections Talk time
New opps not
touched
Opps not touched
14+ daysOpps touched
# of opps touched # of new opps not touched # of opps out of ROE
# of emails + calls # of calls >60 secs # of mins on the phone
28
90
15
Calls
35
Emails
18
3
7
Goal: 0 Goal: 0
Goal: 25
Goal: 50 Goal: 30 Goal: 80

Custom training pathways
Real time coachingData-driven coaching
Data-driven insights
on reps’
performance…
…can help identify
specific
developmental
areas…
…and lead to
improved training and
coaching
Training and Coaching
User-friendly platform
@Sales30Conf @McK_MktgSalesSource: McKinsey & Company Sales DNA Solution and Database

benefit both groups

Technology can improve sales performance
customer satisfaction20 - 30%
time to close30 - 50%
uplift in revenue5 - 10%
pipeline conversion10 - 20%
McKinsey & Company 19@Sales30Conf @McK_MktgSalesSource: McKinsey & Company Marketing and Sales Practice, case libraries

Some advantages to being a proactive, early adopter
ProactivePartialNone
Profit delta vs. peers
-5
0
5
10
15
-10
20
@Sales30Conf @McK_MktgSalesSource: McKinsey Global Institute, Global AI Survey

Where does your organization fall in its
adoption of sales technology?
Partial Proactiv
e
None

Let’s stay connected
@jenstanley3
jennifer_Stanley@mckinsey.com
Jennifer Stanley
marie_rowell@mckinsey.com
Marie Rowell
McKinsey Marketing
and Sales

Powering B2B Sales with Digital

Powering B2B Sales with Digital

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