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Outsider Insights | From Hustle to System: Why More CEOs Are Rebuilding Their Sales Function
Outsider Insights
Across Chief Outsiders, we talk to hundreds of CEOs every month. In this new series, we explore the trends and challenges we’re hearing from these discussions – and what you can do if you’re facing the same issues in your business.
An Equitable View: Four Questions to Ask in Gauging Your Company’s Market Potential
Tue, Apr 17, 2018 — Private Equity investors, as a rule, have a propensity for looking before they leap. Known for their discipline and attention to detail, PE investors rarely reach for a dime without conducting a fair amount of due diligence. Most potential PE investment activity has within its foundation a document known as the investment thesis – essentially, the private investors’ “white paper,” outlining in detail how value will be created and a return made on the investment within the target exit timing. Often the primary drivers of this thesis are restructuring costs – fixed overhead, asset deployment and operating expense. Another driver relates to the sales force – in particular, whether an addition of headcount or selling tools would drive more sales, and increase effectiveness.
Lessons in Innovation: The Customer Development Team’s exposure to Prospective Customers
Fri, Jul 28, 2017 — In my last post I shared a process for companies to consider using when evaluating new products for new markets. The core idea is to test “customer readiness” before making significant investments in Marketing and Sales. And the vehicle for testing is to use a cross-functional Customer Development team to reach out to prospects to create and expedite learning moments. Uncover the facts, test your assumptions, and iterate on the product, if absolutely required, before executing the big launch. In this post, I’ll share an experience I’ve had when using this approach.
An Audience of One: Neuromarketing the New Reality
Wed, Jun 14, 2017 — If you buy into the old corollary that the “future is now,” be prepared to be blown away by what tomorrow’s future holds. If you thought that today’s wave of marketing analytics tools represented a bold new frontier in how enterprises can track and nurture consumers through the buying cycle, well, in the words of Bachmann Turner Overdrive – “You ain’t seen nothing yet.” And, if you believed that the kind of brain-reading technology that served up personalized advertisements to Tom Cruise in the movie “Minority Report” was the stuff of fiction, it may be closer to reality than you ever thought.
Kickstart your Performance Initiatives: How KPIs Help You Get Results
Fri, May 12, 2017 — As a CEO, you want results. To support your lofty goals, you’ve run a good strategy session; and you have a solid plan of attack. But, do you really understand the journey from your strategic plan to your desired outcome? Are you ready to use the single best tool you’ll ever have, the little understood key performance indicator, or KPI?
Hey Siri - How Can I Prepare for Mobile SEO?
Tue, May 9, 2017 — Like it or not, two big changes are coming to search that will impact the ranking of every web site – voice search and Google mobile-first indexing. One is fueled by the way we search and the other is what Google will search in the near future.
What B2B E-commerce can Learn from Consumer Retail
Tue, Apr 25, 2017 — The world of consumer retail is in the midst of rapid transformation. Traffic in brick-and-mortar stores is decreasing. Consumers are moving away from shopping malls. Traditional advertising—whether via direct mail, TV ads or newspaper and magazine ads—is losing its relevance.
Five Steps to Ensuring Strategic Planning Success
Mon, Apr 10, 2017 — Strategic planning – two words that need not strike fear in the hearts of corporate executives. After all, if you think about it, we’ve all been strategic planners since childhood – setting our objectives, then figuring out the best way to make them happen. Like the time you figured out that if you wanted Santa Claus to come, you HAD better go to bed first. And when you were older and setting your sites on a special college. You did your research to understand what they were looking for, you took the right classes and participated in the best extra-curricular activities--all in an effort to present yourself as the type of student they would consider. Of course, now that you are a CEO, the stakes around strategic planning are maybe just a tad bigger. In the bid to get our highest-quality products or services to the market, it will be the strategic planning process – scaled appropriately, of course – that will get us there. Understanding which combination of markets, pricing, offerings for each market segment, distribution channels, communication channels and the like is integral to cracking the ROI code. And with so many options to power today’s strategic plan, it’s hard to fully understand which to do first, and which to leave by the wayside.
Managing the Uncertainty in New Markets
Mon, Apr 3, 2017 — In my last post I addressed the challenges companies face when considering entering new markets. I called these the “white spaces”. The challenge is assessing the value in entering those markets without consuming excessive resources. It’s about exploiting opportunities, but not over-spending and taking on too much risk at the start.
3…2…1… We Are “Go” for Product Launch
Wed, Feb 8, 2017 — Part 1 – Gathering Strategic Insights B2B product companies have to move quickly to innovate and release new offerings to remain viable and sustain growth. All too often, B2B companies rely too heavily on their sales channels to launch their products. Because we are always connected to the Internet, your sales prospects have access to a wealth of information making the traditional sales journey less relevant. Your marketing team now has a greater responsibility than ever in driving success of a new product launch.