On August 16, 2023, during our cohort, the group discussed two Peer Challenge Cases on stagnated growth and discovering new data sources for insights to help with modernizing the sales process.
The first Peer Challenge Case discussed was a B2B tech company that has experienced flat sales growth for the last three to five years. They determined it was due to a lack of a proper go-to-market strategy.
During the discussion, participants suggested options such as creating a SWAT team to search and validate new business ideas and bringing in a Chief Growth Officer or a Revenue Specialist.
They also discussed the importance of diffusing the ego of the current VP of Sales and getting him on board with the growth strategy because he was currently blocking transformation efforts, which the founder was enabling. As a result, the group explored the founder's goals and whether he genuinely wanted to do what was necessary to grow the business.
For the second Peer Challenge Case, the group discussed the limitations an organization was experiencing using existing (captured) customer data and insight to increase the automation of their current sales operations practices.
The team discussed the challenges of digitizing prospecting and relationship nurturing and the importance of understanding the tech stack, ICP (Ideal Customer Profile), and TCP (Typical Customer Profile) to address the legacy data problem. The group agreed that the conversation needs to focus on the bigger picture of growing the company instead of merely the digital transformation of their work activities.
The meeting ended with a discussion on leveraging technology to improve the buyer journey and sales process. The group highlighted the benefits of using dynamic websites and videos to allow buyers to self-identify their interests and needs, which can lead to more targeted and effective sales efforts. They also discussed the concept of digital sales rooms for larger deals and the mixed results of using intent data for lead generation.
Ultimately, the group agreed that modernizing the sales process and using technology to gain insights and improve efficiency is crucial for success in today's market.
The next cohort is scheduled for Thu, September 14, 2023 at 2PM Eastern. Reserve your spot here.
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