6 Burst results for "Mark Discovery"

"mark discovery" Discussed on Marketing Trends

Marketing Trends

05:40 min | 4 months ago

"mark discovery" Discussed on Marketing Trends

"Is our first marketer made through our marketing for awhile company an just suck on that structure, and then it grew and it worked, and then all of a sudden now, we're gonNA grow for ensued like we're does. Product stop and growth, begin. It's a great question. I think you know in reality invite my foster on how growth gets the fine. What gratuity actually means as I think, the most important part ordered is the dynamism of how the levers of marketing research product is operations versus you acts, which is all argument. The word how does not skip play louder quieter from time to time depending on what the company needs right in. One of the things I very much ascribed to is that most of the time your most valuable growth lederer, a software or tech related business is just increased product market fit if that's the case product becomes the center of the growth. Rattus in your thinking about marketing is an application of product collect market footsie Kagan analytic says mark discovery, but that can be different. Sometimes, you have great product market. Growth actually comes from war what we would go traditional growth letters paid advertising campaigns or or other texts promotions or go hacking if you will where to dry lead generation and so for us it ebbs, it flows at times and the way I think about different parts of the growth or take turns getting sort of be the center of the dancer call interest cubits it's gone back and forth right now I would say we're very much a product of the middle kind of gross stage in like what types of of marketers do you have on your team is do you have a large? You know digital team have an ADS team like puts the break-up? Yeah. So we skew. Context scoop we have a BB side of our business and sort of a B. to B. TO C. or marketplace side ride. So ways works is our customers are employers. We work with companies to buy our software offering our platform and had sort of worked together with. To scale it out to their employees. It's it's really a beat a ebusiness if you're actor fought that -nology. But at the same time, once an employee joins our platform, it become part of the network and they have a relationship at scoop the company itself. So then we have riders and drivers who are matching up together to commute were teaching them about the products, engaging them or waiting rang referral programs, and so when you look at Merck team. Which is pretty lean. Today we're actually doing is trying to just make this core bats in different parts of the B. Two B. B., C.. So that context you know we have a demand, you know part of our team, we've got most of what we call product workers. So we have someone who's particularly the marketplace, the commuter products someone who's particularly focused on the customer customer sale, the customer product positioning and an hour marketing team at scoop also includes. Is that kind of rounds at our team where content actually plays a really big part for us because it's kind of that pivot point between beg the BBC It'd be the B side where most of our content to have that of dual value. We don't have a lot of investment in advertising actually because of our our model because he worked with such bay companies were much more sort of ABM will of the seeds kind of demand Jan Jaap and we haven't done a lot of digital at scale that we have tried it at different times did not found. That it's been a great fit pharmacist not us yet. So funny how you know in the world of these kind of you know the B. TO B. Two C. type companies where you have this massive amount of people, the employees whether it's like companies who support you know employees like HR company or whatever it is that you have this go to mark emotion where you need all of the employees to be bonded on the solution but you need a handful of decision makers to actually close the deal and those two things you know from a top down approach or Impacting that group side ways his critical. Do you think about like those two groups as like how you shape one but sell the other? Totally an end and in many ways we. Are Product Strategy. Our North Star is governed by disappointed on maturity. So much of what we're trying to build the best parts of what we build our things that actually both make our customer, the buyer. Happy but automatic for day to day experience the commuter. Now, what we're lucky about is that a jar products in particular like ours are sort of an HR experience product good hr leaders dare number one buying criteria is the happiness and experience points and so building Sporting. Actually bad makes fire happy but it has. been a challenge. We we've had a lot of fabrication the way that we think about where should we focus tried to tell the story better to a customer user and we're going through a website redesign right now where we're finally going to start toward the corner where it takes Duke Dot com changes fraud really a commuter at first focused to a BB of Lear jet bogus announced you know five years of company evolution, and so it is a lot of off Darren I think for the beat a C. businesses. The launch invitation sort of integration phase is really where you make your money and it's been one of the. The. Most energy trying to perfect develop because. Signing a contract is only as good as the number of boys. We're actually gonNA use your offer. Yeah, and you know when you're talking about, you know that post sale process. If you know obviously the top of the funnel is important and bringing people through or you know in abm parlance, you know how you're engaging those.

Merck team ABM BBC Jan Jaap Duke Dot fraud Darren
"mark discovery" Discussed on All The Responsibility Podcast

All The Responsibility Podcast

11:15 min | 9 months ago

"mark discovery" Discussed on All The Responsibility Podcast

"We have the fundamental product management claim. If I build an ex then people will buy it is. It's fundamentally fortune telling. But that is the statement that we make. When building a product for the obviously. I may know a lot or little about the people who I think will buy solution acts. I may know that they really need an ex. Because I've done market research now. Presumably if you listen to my podcast regularly you know all about mark discovery and finding validated market problems. And all that. But once you've done that and you've built a solution is guaranteed. You're going to be able to sell it. Well not really even. If you've got your go to market altogether in fact just to give you an example one of my big imposture areas right now. Is the whole selling it part of this podcast and the online training courses that. I'm building not only do. I have to figure out how to build an online training. Course this is within reach I feel but still with a lot of unknowns but I have to sell it and that's farther outside my zone of expertise. This podcast episode kind of arose out of pep talk for myself. You know grew out of some writing that I was doing to try to help myself. Keep on track with this personal side project and as I was doing this writing basically whingeing and whining to myself about myself. I told myself I really needed to snap out of it because in fact I realized I have some mental models some techniques and tools that have worked in the past to help me with my own imposter syndrome and I needed to remember to use them so as I was writing this to myself I realized Oh other people might be able to use these ideas as well so this episode is about some of the things that I do to help me get through the doubts and fears of all the things that I need to do what those are in my day job or as a podcast coach and trainer and I hope they'll be useful for you the way I'm going to structure this. I have a lot of different ideas for how to manage imposter syndrome drill down into four. That might not be so obvious. And I'll list a few more briefly at the end and some of these might almost seem to be cheating but I found them really helpful. So let me first of all talk about the four that I use a lot myself. They might not be the best for but they're my four and some of these ideas I would say are a little counter intuitive and some are things that are true but are kind of hard to C R understand. But you'll hopefully get a sense of how you might make use of them. Let's set this up a bit sailors. Something you need to do as part of your job or to move your business along. Its involves creativity for example. You may need to write a data sheet for your product or sales page. Or maybe you're a new product manager and you need to write your first feature SPEC whatever it might be something that you consider challenging. That's outside your comfort zone and for which you worried that your effort will expose you finally as an impostor so hopefully. You're with me on this and so here are some of the things that I would do if I was in that situation. The first thing is I would compare myself to other people so I know. Hang on a minute. I know what you're thinking. There's a great saying that I learned from a Buddhist friend. You're not better than anyone else. You're not worse than anyone else. You're not the same as anyone else. And that is a good way to think about you and other people most of the time and it's not just Buddhist sore against comparisons everyone warns against comparing yourself to others and it is true that as with most of the advice I have in this episode it can be pernicious if done too much or not done correctly but there are times. I found when comparing yourself to others can be very helpful and this is one of those times so I'm GonNa suggest that you compare yourself to others who are successfully doing what you need to do to see if they have some kind of superpowers to see if they have some intrinsic advantage that you don't have that enables them to succeed and there's actually two possible outcomes of this assessment first of all maybe they don't have superpowers. They don't have superpowers around this activity. Then maybe the fact that you don't have superpowers either doesn't mean you can't do it or means maybe you can do it if someone else can do it. Then I can probably do it with the parenthetical if they don't have superpowers so this is a very useful tool to to us to say. Oh there's that other person who's successfully doing this thing. Does that person know something? I don't know no have they done it more often. Something like that. That's not a superpower that's practice and then you can look at them and say oh well if they can do it. I can probably do it. I use that all the time. What if the person you're looking at does have superpowers will again? There are two possibilities. I maybe you can actually just borrow or swipe or appropriate what they do or hire them to do it for you in other words instead of counting on your own ability to do thing you start using their ability of course this means you have to be decent at appropriation. Aren't getting someone to do the work for you but it means. Maybe you don't have to do it yourself. And the best approach is to get someone else to do it but even someone who's very successful. Who Does have superpowers? That doesn't mean you can't be successful enough at that task even without superpowers so mostly in most situations. You don't actually have to be the best. Say the person you're looking at is the world's best person at writing datasheets while you're never going to be as good as that person even if you did have superpowers because they're the best but maybe you can be not that great writing datasheets but still be good enough to write a data sheet. That will do the job for the moment. You know you just have to be good enough now. I always think about Jay Abraham. He's one of the most famous and successful and just all round amazing marketers in the world. He's the best and people pay him literally. Hundreds of thousands of dollars an hour to consult. But that doesn't mean that thousands of other people can't also be successful marketers even if they don't have Jay Abraham superpowers. How do they do that will one? Is They copy him right? And he is very open about sharing his techniques. They don't really give you superpowers but there are things you can swipe and of course. They can pay him to do the work. That's another alternative or they can do marketing. That just isn't as good as what Jay Abraham was would do but is good enough. So that's the whole comparing yourself to other thing. I think it's pretty useful to be able to look at a job and say oh can this other person who's more or less like me or maybe doesn't even have some of the capabilities that I have. If they can do it then I can probably do it. I can at least make more progress. The second technique is to think about your strengths. What you perceive as simple but others don't the problem is that things that are easy for us. Don't seem like they're that important but they can be miraculous other people. I have a phrase. I like which I learned or maybe I appropriated actually from someone else. Your obvious is your art and you can think of all kinds of examples probably in your own life. I certainly can think of lots of examples in my life where I'm in a situation and things are going on and I know what the outcome of that situation is going to be. Maybe I'm in a meeting and there's a bunch of people talking about something. I kind of know what the outcome of this conversation is going to be. I know what has to be based on the initial conditions but all the other people in the meeting to discuss it for hours and hours before they can recognize that the solution has to be the thing that I immediately saw. Now this happens to be a particular strength in some situations for me. Other people have other strings a lot of times people who become artists and things actually become artists because for them. It's obvious how to draw a circle round whereas for some people like me. I can't couldn't draw circle. It was around if my life depended on it and so it's obvious to them how to do it and to me it's a giant thing and so I look up to those people and I respect them but they may think that it's just simple and not very important because of course they can draw. Anybody can draw circle. Well the fact is not anybody can draw circle. Think about your strengths trying to discover what they are. There's versus to do that. You can take the Clifton. Strengths finder test. I'll put a link to that in the show notes. I think it's really powerful. You buy the book you get a code. You do this online test. They tell you what your top five strengths are. And what you'll probably see when you do that is you'll see. Oh yeah those are that I just assumed everybody could do. And the fact is that not. Everybody can do those things that just the way it is. I'll give you a good example of mine. One of mine connectedness. What am I Clifton? Strings and connected. This means I see the connections between all kinds of things and once I realized or learn that I had the strength. That Clifton strengths finder surfaced that for me. I realized that the way that I thought about certain problems in work and in life and so on was very different from our the people saw them. Because I could see how this problem was connected to all the other things going on and a lot of people. Just don't have that intuitive vision and that's not because they're not smart it because for me. That's the way my brain works. And so anyway think about your strength and one of the things. I think that often contributes to imposter syndrome. Is you think well that wasn't hard for me at all. So why should anybody be celebrating before it? You know maybe about a particular accomplishment and the fact is that the reason they're celebrating you for it is because they couldn't do it even though for you. It's as easy as falling off a log so think about your strengths. The third thing that I tend to do a lot when I'm trying to overcome impostor syndrome or to see where I really stand. Is I test myself? Maybe I read other articles on the topic about what I'm writing about or what. I'm trying to present something as an expert. I want to see if the thing that I'm trying to contribute a different perspective. A different or better way to explain something or deeper insight is actually real for example. Maybe you're an expert on maps or you think you are having been recognized as such in the past by your colleagues or something but you see. There's all these other people out there doing trainings. And courses and writing articles on road mapping and how to build a road map and all that this is a product management topic of course. So then you think to yourself. Are you really an expert? Maybe you're over the hill. So what I recommend is finding a few articles about road mapping from these experts and reading them. Do you agree with everything? And those articles are those articles wrong in any way that you know about if someone came to you and said I read this article on. Road Mapping and I'm GONNA follow it. Would you have some ideas for that person about how they could be more successful rather than simply following that article? The point here is we often think that other people who present themselves as experts our experts. And maybe they are. Maybe they aren't but that doesn't mean that you're not an expert and so I do this all the time I as you know. I wrote a book about product management. So I'm always going out and looking at other books articles about what is product management. All about and I look at those and I say are there things that I agree with him in this article. Are there things that I disagree with? Are there things that I hadn't thought about before? Are they mentioning? Some things that I think are really important and what I find. A lot of times is no. They're not mentioning. Those things that I think are important that I covered in my book. And so what this does is it helps me continually refresh the sense that my book has valuable information about product management. That isn't actually easily available in other articles now. The other articles often have really great stuff that I don't cover. It doesn't mean that my book is still interesting and gives you good.

Jay Abraham product manager imposter syndrome
"mark discovery" Discussed on All The Responsibility Podcast

All The Responsibility Podcast

10:27 min | 10 months ago

"mark discovery" Discussed on All The Responsibility Podcast

"We go to market is really a complex and kind of many-faceted activity and not only are there interesting cross cutting interactions across the organization in the process. But there's a lot of interesting through lines from one. End of the product management process itself from finding invalidating market problems. As I describe in what I call the secret product management framework all the way to go to market now in this episode. I'm going to talk about a tool that I think technologists like us. I E those of us who kind of like technology for its own sake. We're kind of technical so you might say we often don't give enough credence to the topic of risk reduction are really reducing the perception of risk on the part of the prospect. And that's done to a large degree by a technique called pre handling objections. Now we have to bring all of our product knowledge and tools to bear when we're handling objections or even more importantly preparing our sales and marketing teams to do that pre handling of objections. This is really a simplified version of buyer psychology the idea of the subconscious perception of risk. But it's really very useful even just as a mental model and of course it does actually have some basis in psychology. So it's not the only thing you need to do while selling this idea prehensile objections but it's really a big one and it can go a long way to keeping the sales process going forward. Now I'm going to talk about how you do it how the perception of risk arises Wyatt arises even if no one is saying anything about it essentially what happens is we have the subconscious and it's big job one of its big jobs just to keep us from being eaten by a lion? Metaphorically speaking it's looking out for problems and it's trying to ignore stuff that's not a problem we're actually trying to keep the brain from even being impacted by things. That aren't problems. It's really looking for things to worry about. And the problem is that the subconscious is very sensitive. And it's not actually that accurate and it can interpret kind of any little thing as a problem. For example maybe you have a spelling error on a slide. Now the subconscious mind immediately interpret that as danger now spilling aren't really that dangerous but the subconscious kind of crisis is whole story instantaneously along the lines of well. This person doesn't know enough to spell correctly. How can I trust him or her to solve my real problems now? This is a legitimate thing that your subconscious does it. Does this kind of thing now. In some sense your subconscious will grasp at straws to protect you. I mean it looks for the tiniest little indicators of danger you can imagine when we lived out in the Bush. The Mirror snap of a twig. Might say to the subconscious. Oh that's danger. We better run now. We'll go ask questions later. So you can think of an objection to bring this back down into the world of sales as a question. That's voiced or on voiced from the prospect that indicates there some perception of risk. So for example the first thing a prospect is going to be thinking when you first reach out to them. If you're doing sales is who is this person. What does this person want from me? What does this person have for me? And is this person. GonNa be wasting my time and what I mean is the objections. Start from the first contact with the prospect. They really start from the first marketing message. That reaches the prospect because the prospect is going to have those same questions about a marketing message. What are you GonNa do about these? Well one thing you can do is to be well groomed and I mean that in a highly general sense you personally should be well groomed. You need to be well-spoken you need to appear welcoming and open and these are all things that against set the subconscious a little bit at ease so you don't appear dangerous now your presentation you're using one should also be well-groomed so no spelling errors. For example. Little Nets like alignment and capitalization should be consistent. Those those things don't bother everybody but they bother some people a lot including me but this kind of grooming only goes so far a prospect will like you better in this has often again a subconscious reaction if you reduce their fears so remember this is happening below the level of consciousness if the prospect associates of feeling of risk with you here she will not trust you and probably will not like you. If you mitigate that feeling of risk then the prospects subconscious might fully flip to. This person is taking care of me therefore I trust and like them so what you want to do is take care of them now. There's two more important ways to put the subconscious cities one of them is to show that you care and understand about the person by anticipating their needs and concerns and the other is to use stories about other people to pitch your product. I've talked multiple podcasts about using stories and I'll actually talk a little bit more about using stories in this episode because I talked about stories all the time but this will mostly be in the context of item one showing that you care about and understand the person by anticipating their needs and concerns. I'm talking about these objections or the questions. About risk arising in the context of a sales engagement but it really applies to any situation where you're trying to communicate about an idea or sell a concept or product. Even when you're just giving a status report about your project the audiences likely to have some objections. That is they're likely to perceive some risks and those perceptions even if they aren't voiced our objections there away for the person to reject your ideas. Your facts your information. Whatever you're trying to communicate if you don't handle them so let's talk about what pre handling objections really means. It means knowing in advance what is going to cost the prospect to perceive a potential risk. And just show why. That risk either isn't worth worrying about or doesn't really exist. There's different ways to do it and we'll talk about this later. So part of go to market though is enabling the sales organization and did the Marketing Organization to pre handle objections effectively. Without you even being there the reason I mentioned that is because a lot of the objections. There's going to be coming up. A lot of the perceptions of risk are related to things that we know as product managers because we went and did Mark Discovery. And because we've talked to lots of customers and so we need to communicate those to the people that actually go out and talk to prospects which is a sales people and the people that try to get the prospects into our sales funnel which is of course the marketing team. So let's think briefly just to drill down a little bit more on that what happens between somebody out in the market becoming a lead for us and then eventually becoming a customer. I'm GONNA talk about an enterprise software style sales process but roughly the same steps occur in any sales process. They might not include the same people. Some steps might be automated sometimes. A webpage stands in for a salesperson. But in general in enterprise sales it goes something along these lines so a person season ad or some other marketing material it piques his or her interests and they respond in some way. Now we might also be reaching out to those people but it's the same idea right we we're trying to touch them with an ad or with call or something like that they enter our sales funnel become a lead now obviously not everybody who sees our ad becomes the lead. This is a funnel. So there's a certain number of people who come in at the top and they attribute out through the course of the process. So what we have a lead. The salesperson doesn't initial qualifying and discovery call with the lead to determine if they're really a good match for our product to learn some things about them that we can use later on in the sales process and so on now. If that lead is qualified they become a prospect and the salesperson then starts to sales process in earnest and this may actually be multiple steps eventually if that lead is then going to become a customer. There's a some kind of a negotiation that happens. The prospect agrees to buy and then the final step is the prospect becomes a customer now. There's things have happened after that once. They become a customer. But that's really the sales process reduction perceived risk or pre. Hanley objections is really critical. In all of these steps so initial steps were going to be reducing the perception. That the salesperson's just wasting the prospects time for example. How do we do that by showing that we understand the prospects situation? They're big problem and that we've successfully solved this problem for other customers. Who are similar to them now. During the qualifying discovery conversations. The salesperson is going to ask intelligent questions about the prospects situation and the challenges they're facing. The goal is for the prospect of feel like they're in good hands with us. In addition the salespeople is often gonNA use kind of customer success stories to show how we've solved similar problems before for people just like them as a sales process goes along. The perception of risk is going to change especially for talking enterprise software. Like what I work on. The actual monetary cost of the solutions likely to be very high and the cost of failure is even higher both from the standpoint of the money and maybe from the standpoint of the person's job so their perception of risk is going to be very very high. It has additional components. Besides just cost. They're worried of course if the product won't actually work we've been telling them it'll work. We've been giving them customer stories. But of course they're still worried the more stories that we can tell that they can identify with and that are about people like them the lower that perception of risk is GonNa be. They're also worried that the product will be too expensive or that will be very difficult to implement that they won't actually be able to make it work even if it could work. That won't work in their instance. So that's the thing we have to tell stories about as well and then of course there are also thinking well. There's other things that I could spend this money on. Maybe the other things are a better thing for me to buy than solving this particular problem and I'm not talking about competitors in this case I'm talking about solving a completely different problem altogether with that same money. So that's kind of opportunity cost now. I talk about all these perceptions of risk in my episodes on the value inequality which you can check out and I'll put the links to those in the show notes just to be clear. Perception of risk is not the only thing keeping the prospect from buying. There might be other solutions that are also adequate to the problem. In other words there might be competitors. That might also solve the problem. The prospect might not like you or your company. They might have someone they like better at the other company right. Those are sort of outside the area of objection handling the prospects. Boss might have a recommendation and that can carry a lot of weight and it might be some other product. They might have a friend who chose a different solution. And we're really happy or the prospect might just be contrary they legitimately might have another problem that they need to solve with the same money. Now there's lots of ways for the sales process to go off..

Marketing Organization Wyatt Mark Discovery Hanley
Reducing The Perception of Risk  The Art of Pre-handling Objections

All The Responsibility Podcast

09:35 min | 10 months ago

Reducing The Perception of Risk The Art of Pre-handling Objections

"Go to market is really a complex and kind of many-faceted activity and not only are there interesting cross cutting interactions across the organization in the process. But there's a lot of interesting through lines from one. End of the product management process itself from finding invalidating market problems. As I describe in what I call the secret product management framework all the way to go to market now in this episode. I'm going to talk about a tool that I think technologists like us. I E those of us who kind of like technology for its own sake. We're kind of technical so you might say we often don't give enough credence to the topic of risk reduction are really reducing the perception of risk on the part of the prospect. And that's done to a large degree by a technique called pre handling objections. Now we have to bring all of our product knowledge and tools to bear when we're handling objections or even more importantly preparing our sales and marketing teams to do that pre handling of objections. This is really a simplified version of buyer psychology the idea of the subconscious perception of risk. But it's really very useful even just as a mental model and of course it does actually have some basis in psychology. So it's not the only thing you need to do while selling this idea prehensile objections but it's really a big one and it can go a long way to keeping the sales process going forward. Now I'm going to talk about how you do it how the perception of risk arises Wyatt arises even if no one is saying anything about it essentially what happens is we have the subconscious and it's big job one of its big jobs just to keep us from being eaten by a lion? Metaphorically speaking it's looking out for problems and it's trying to ignore stuff that's not a problem we're actually trying to keep the brain from even being impacted by things. That aren't problems. It's really looking for things to worry about. And the problem is that the subconscious is very sensitive. And it's not actually that accurate and it can interpret kind of any little thing as a problem. For example maybe you have a spelling error on a slide. Now the subconscious mind immediately interpret that as danger now spilling aren't really that dangerous but the subconscious kind of crisis is whole story instantaneously along the lines of well. This person doesn't know enough to spell correctly. How can I trust him or her to solve my real problems now? This is a legitimate thing that your subconscious does it. Does this kind of thing now. In some sense your subconscious will grasp at straws to protect you. I mean it looks for the tiniest little indicators of danger you can imagine when we lived out in the Bush. The Mirror snap of a twig. Might say to the subconscious. Oh that's danger. We better run now. We'll go ask questions later. So you can think of an objection to bring this back down into the world of sales as a question. That's voiced or on voiced from the prospect that indicates there some perception of risk. So for example the first thing a prospect is going to be thinking when you first reach out to them. If you're doing sales is who is this person. What does this person want from me? What does this person have for me? And is this person. GonNa be wasting my time and what I mean is the objections. Start from the first contact with the prospect. They really start from the first marketing message. That reaches the prospect because the prospect is going to have those same questions about a marketing message. What are you GonNa do about these? Well one thing you can do is to be well groomed and I mean that in a highly general sense you personally should be well groomed. You need to be well-spoken you need to appear welcoming and open and these are all things that against set the subconscious a little bit at ease so you don't appear dangerous now your presentation you're using one should also be well-groomed so no spelling errors. For example. Little Nets like alignment and capitalization should be consistent. Those those things don't bother everybody but they bother some people a lot including me but this kind of grooming only goes so far a prospect will like you better in this has often again a subconscious reaction if you reduce their fears so remember this is happening below the level of consciousness if the prospect associates of feeling of risk with you here she will not trust you and probably will not like you. If you mitigate that feeling of risk then the prospects subconscious might fully flip to. This person is taking care of me therefore I trust and like them so what you want to do is take care of them now. There's two more important ways to put the subconscious cities one of them is to show that you care and understand about the person by anticipating their needs and concerns and the other is to use stories about other people to pitch your product. I've talked multiple podcasts about using stories and I'll actually talk a little bit more about using stories in this episode because I talked about stories all the time but this will mostly be in the context of item one showing that you care about and understand the person by anticipating their needs and concerns. I'm talking about these objections or the questions. About risk arising in the context of a sales engagement but it really applies to any situation where you're trying to communicate about an idea or sell a concept or product. Even when you're just giving a status report about your project the audiences likely to have some objections. That is they're likely to perceive some risks and those perceptions even if they aren't voiced our objections there away for the person to reject your ideas. Your facts your information. Whatever you're trying to communicate if you don't handle them so let's talk about what pre handling objections really means. It means knowing in advance what is going to cost the prospect to perceive a potential risk. And just show why. That risk either isn't worth worrying about or doesn't really exist. There's different ways to do it and we'll talk about this later. So part of go to market though is enabling the sales organization and did the Marketing Organization to pre handle objections effectively. Without you even being there the reason I mentioned that is because a lot of the objections. There's going to be coming up. A lot of the perceptions of risk are related to things that we know as product managers because we went and did Mark Discovery. And because we've talked to lots of customers and so we need to communicate those to the people that actually go out and talk to prospects which is a sales people and the people that try to get the prospects into our sales funnel which is of course the marketing team. So let's think briefly just to drill down a little bit more on that what happens between somebody out in the market becoming a lead for us and then eventually becoming a customer. I'm GONNA talk about an enterprise software style sales process but roughly the same steps occur in any sales process. They might not include the same people. Some steps might be automated sometimes. A webpage stands in for a salesperson. But in general in enterprise sales it goes something along these lines so a person season ad or some other marketing material it piques his or her interests and they respond in some way. Now we might also be reaching out to those people but it's the same idea right we we're trying to touch them with an ad or with call or something like that they enter our sales funnel become a lead now obviously not everybody who sees our ad becomes the lead. This is a funnel. So there's a certain number of people who come in at the top and they attribute out through the course of the process. So what we have a lead. The salesperson doesn't initial qualifying and discovery call with the lead to determine if they're really a good match for our product to learn some things about them that we can use later on in the sales process and so on now. If that lead is qualified they become a prospect and the salesperson then starts to sales process in earnest and this may actually be multiple steps eventually if that lead is then going to become a customer. There's a some kind of a negotiation that happens. The prospect agrees to buy and then the final step is the prospect becomes a customer now. There's things have happened after that once. They become a customer. But that's really the sales process reduction perceived risk or pre. Hanley objections is really critical. In all of these steps so initial steps were going to be reducing the perception. That the salesperson's just wasting the prospects time for example. How do we do that by showing that we understand the prospects situation? They're big problem and that we've successfully solved this problem for other customers. Who are similar to them now. During the qualifying discovery conversations. The salesperson is going to ask intelligent questions about the prospects situation and the challenges they're facing. The goal is for the prospect of feel like they're in good hands with us. In addition the salespeople is often gonNA use kind of customer success stories to show how we've solved similar problems before for people just like them as a sales process goes along. The perception of risk is going to change especially for talking enterprise software. Like what I work on. The actual monetary cost of the solutions likely to be very high and the cost of failure is even higher both from the standpoint of the money and maybe from the standpoint of the person's job so their perception of risk is going to be very very high. It has additional components. Besides just cost. They're worried of course if the product won't actually work we've been telling them it'll work. We've been giving them customer stories. But of course they're still worried the more stories that we can tell that they can identify with and that are about people like them the lower that perception of risk is GonNa be. They're also worried that the product will be too expensive or that will be very difficult to implement that they won't actually be able to make it work even if it could work. That won't work in their instance. So that's the thing we have to tell stories about as well and then of course there are also thinking well. There's other things that I could spend this money on. Maybe the other things are a better thing for me to buy than solving this particular problem and I'm not talking about competitors in this case I'm talking about solving a completely different problem altogether with that same money. So that's kind of opportunity cost

Marketing Organization Wyatt Mark Discovery Hanley
"mark discovery" Discussed on All The Responsibility Podcast

All The Responsibility Podcast

15:29 min | 1 year ago

"mark discovery" Discussed on All The Responsibility Podcast

"Our customer got a promotion. Our customers recognized for being the most effective sales manager in the company after implementing our software those become emotionally compelling now another piece you're going to want to do. You're going to do the same thing when you're talking about the problem. You're going to talk about how dire the problem is from a business standpoint but also how dire the problem is from the standpoint of your prospect as a person they might get fired. They might lose their job. They might not make quota. They might not get home to see their kids baseball games. If it's if our solution is the type of thing it saves a lot of time it may be that they're spending forty seven hours a week creating the T._p._S. reports and our solution let some create those in five minutes. Suddenly they're able to go home and watch their kids. Baseball game and add is a personally meaningful goal. That's emotionally compelling. If you're telling a story to someone and they'll they'll glum onto that so you need to have all these emotionally compelling components as well as business components one of the things that if you look a lot of customer success stories that are like you you look go to any enterprise software companies website or most most enterprise software any business product go to their website and look for their customer success stories they typically leave out these emotionally compelling pieces from the customer success stories and the fact is that if they were to include those the stories would get much better and much more compelling instead they mostly talk about the business results and it's leaving a lot of value on the floor in my opinion. I'm sure that all of these stories have but mostly compelling components personal goals achieved but you often don't see them anyway. So what do you need to have in order to be effective at at creating these stories well first of all you need to have done market discovery because you have to have market discovery to learn about the prospects pain and then to tell that story so you're going to go out and do market discovery in your market. You're going to talk to people that are suffering from all these different problems. You're gonNA find out what problems are suffering for. I'm from you're gonNA write those things down. You're gonNA after you hear about the same problem multiple times you're going to say oh. There's a significant problem out here in the market you hopefully we'll have a lot of quotes from your prospects the people in the market about how terrible. Herbal it is to have this problem all the things they tried how often they got to go home and see their kids baseball game which would be never because they spent much time doing T._p._S.. Reports you need to do market discovery to find these prospect problems the prospect stories because it's all about what's what's happening to the prospect to tell a customer story you need to have successful customers who have implemented your solution and solve that big problem and have results in got their promotion as well as having the business results. If you don't have market discovery you really are going to have a hard time telling me stories because what you're going to be what you are going to be tempted to do to make them up sometimes that works but usually doesn't it turns out that if you haven't really found a legitimate market problem on the market and ears creating a solution because you think in your brain that this problem must exist or maybe it's a problem that you perceive products that are built on that structure typically fail almost always it's very rare that product conceived received in that way succeeds sometimes happens very rare. If you don't have customers yet you can still kind of make up a customer like story. Now you still won't be able to have the emotionally compelling personal results. It's but you can't talk about how the problem will be solved using your solution. You might be able to imply some some potential personal results like this will take a process takes five hours to do down to five minutes and that will give you time to do x Y and Z eh but it's much better to have the actual customer stories and of course if your product really does provide that solution you should be able to get those kinds of stories relatively quickly and you should always make sure to ask for those if you have a customer who's successful you want to say what were your business results and you also want to ask questions to get at the personal results. How does that make you feel? Did you gotTA promotion. Did you get any recognition for solving this problem. Now the way that you use these stories I kinda talked about this already. A little bit you use the prospect story to pitch new ideas to the executive team a problem significant impact to the customer talk about all the things that they tried and how they were unsuccessful finding solution your gun then pitch that if we create a solution we will get the falling benefits. <music> are a prospects will get the following benefits and they will be much happier and they will we will write off into the sense that making a lot of money so that's how you use this prospect store. It's really about pitching the idea of building a solution to a problem that you found in the market in fact you typically really not use the story in selling now you'd use some of the components because the components right the problem is the same problem that your customers have but what you're gonNA use when you're selling is you're gonNA use the customer success story because in what happens in the customer success stories is fantastic moment when the customer discovers your solution and then they implement your solution and they have these fantastic results. That's so that's the way that uses so this one is really used in a customer situation. You can use variations on these as well for not just for pitching to a prospect you might you can use them for handling objections as well so for example if the prospect says you're trying to pick your solution to a prospect and they say well you you don't have feature acts in your competitor has feature acts and we really want feature axe then you hopefully have a customer story in your back pocket that says well you know we had a customer they also wanted feature axe and they were disappointed that we didn't have that but they decided to go with US anyway and now they're using feature Y on our product and actually they're super happy and I just recently talked to them and they said they don't think there's really any need for feature acts because they have future why some story story like that right so so that's how you might use it to handle them a story like this to handle objection so let me just tie this into if you're familiar with my book I have the structure in secret product management framework and the basic ideas. What product management really consists consists of is three main things if finding invalidating market problems in other words finding problems that people out there in the market have that are so bad that they're willing to spend money to solve them so we find those problems we then create solutions to those problems or we work with our development element team to believe to make the solution and then we take the solution to market which means finding other people that have those problems letting them know we have a solution and telling them why are solution is superior to their other alternatives? That's essentially essentially the framework find find a market problem creative solution. Take the solution to market. I think it's very interesting that the storytelling framework is very similar to this it starts with a problem it talks about a solution and go to market as a little bit different than results but they've kind of tied together in Mark Discovery we learn about the potential problems out there and we validate that they're terrible and then when we create the solution in order to create the solution or to have anybody even decide to work on our solution hard to give us funding for it. We have to tell the stories about the problems that we founded how terrible they are and how we can have a big impact by creating a solution and use those stories not just actually for your executives to sell the idea of the product but also with development team so that they can get engaged in creating an oftentimes. They'll create a better solution if they really understand the problem rather than just you sell them. I want this feature I want that feature and then finally marketing and sales use these stories to go to market and they use the prospect story actually to do marketing. What marketing really is trying to do is to find other people with this with these problems and so they're going to be using the problems that you discover it as part of the prospect story and they're going to say hey if you have this problem this terrible problem that we know people people have you should come look at our solution because we have solved it right so that's how the prospect story plays into that as well so those are the the stories the pro the prospect story in the customer story? What's the action that you should take about this? Well you should be doing doing mark discovery and finding these prospect stories these stories about these terrible situations and of course as your product rolls out you WanNa get your customers to give feedback on their experiences and make sure that you're for capturing those stories both the business results as well as the personal results now. I didn't WanNa talk a little bit about some of the coaching on how to make your stories better so I I mentioned that you WanNa make the problem really dire and the fact is that most of us at least this is my experience are not that good at recognizing how bad a problem might might be. We tend to soft pedal the problem a lot of times now. This is true both when we're telling our own stories like to go back to that I mentioned when you ask interview questions. Tell me about a time and but also happens in business and customer success stories as well so we might say the sales team misquote a couple of quarters. You know you can infer that that could potentially be a big problem but it's much better hurt when you're telling that particular story is to say something along the lines of our sales were tanking and if we didn't fix something the company was going to go out of business that is true. I don't even have to make that up if you miss quota over and over again if if the sales team can't meet quota over and over again then eventually the result is the company goes out of business because you can't make enough money and so it's not a lie it's not but it is pointing out that yeah the the outcome of this particular problem is the company goes out of business eventually or you lose all your good sales people. There's all these different things that can happen certainly if you're a sales manager in a company where that can't make quota. You're probably GONNA get fired. That happens well before the company goes is out of business even if it's not really your fault even if even if there's some other reason that you're not making quota you know maybe it's not you as a sales manager in how while you manage maybe there's some other problem. That's keeping the company from for keeping the sales from going up up the point is you're probably GonNa get fired so you can do all kinds of things about that. You can ask these questions. When you're discovering these problems right what would have happened if you hadn't solved the problem? Well you continue to not make quota. The company goes out of business. Certainly the sales sales manager gets fired. There's going to be a reward. A bunch of salespeople are gonNA leave Etcetera Etcetera Etcetera now. What if it's a different type of problem for example? What if it's a problem where it's taking forty seven hours a week to do the T._p._S. reports well that point you can say well? How much is this costing you? How much does this costing you every week? What are you not getting done? What are the things that are falling off your plate the you need to get done but you're not getting done because you're spending all your time doing t._v._S.? Reports how does that affect affect your personal life. Do you ever get home. Do Have you seen your son in the last five years. Have you seen your wife in the last five years. No I have to spend forty seven hours a week doing T._p._S.. Reports and the rest of my job and so you WANNA learn about all these these potential impacts.

sales manager Mark Discovery Baseball US marketing and sales executive development team forty seven hours five minutes five years five hours
"mark discovery" Discussed on Side Hustle School

Side Hustle School

01:45 min | 2 years ago

"mark discovery" Discussed on Side Hustle School

"Tracks to majestic locales in Nepal, including Everest base camp. How did faint play a part in the start of this adventure project? Let's check back to August twenty sixteen when Mark was one day away from leaving his job as communications director at a nonprofit organization. It was a hot and sticky afternoon in Nashville Tennessee and the air conditioner in Mark's truck had quit working needing a ride to pick up that truck after repairs at the mechanics garage, Mark summoned lift driver. This was a lift ride that would change the course of history, or at least the next point in our story. Mark stuck up pleasant conversation with the young driver whose name was Dawa Jang, boo. Lama sherpa Dawa spoke fluent English with an accent. Mark couldn't pinpoint where Mark discovery Dawa was from Nepal. He asked if he knew anything about the. Chris base camp trek. The trek was something Mark and Holly had put on their bucket list years ago, Donald grin and answered I am an Everest region. Sherpa I've guided that trip dozens of times, I even own a small trucking company, and the Paul what was the chance that he would meet this man in Everest region sherpa on a lift ride in Nashville, Tennessee, they exchange information and a few days later, Mark Holly met with Dawa to learn more about making the Everest base camp trek in the spring of two thousand eighteen at the time. They had no idea how they'd pay for it. Or even how to manage logistics with three kids, but they committed to making it happen as Mark research more about this trek, he began to notice that there were no regional companies that offered it in fact, as far as he could tell there were no companies with headquarters east of Colorado marks next thought was why not create their own trucking company at first this idea seemed as crazy as well as hiking in the Himalayan mountains, Mark and Holly had no experience with Nepal. And we're only casual hikers, however market utilize his marketing and web development skills while Holly handled finances and organisation. Dawa had a large network of guides in Puertas back home..

Mark discovery Dawa Mark Mark Holly Nepal Dawa Jang Everest Nashville Tennessee Sherpa director Puertas Donald grin Colorado Paul one day