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In this Episode, Corporate Visions EVP, Frank Pinder shares his perspective on the Sales lifecycle, the future of company culture, and technologies companies can adopt to transform their digital sales. Frank also provides invaluable insights on company cost optimization.
1:40 - Covid has been a catalyst for change and transformation. It has brought digital selling as a technique, as a lot of companies didn't have this choice. Now our buyers prefer to have more remote human interactions, they want us to sell to them now, digitally or virtually.
So, I think one of the big catalysts is we've seen B2B buyer preferences shift, and then we've seen companies focus more on enabling digital selling motions in their organizations.
3:53 - For generalized stages of the sales cycle, in the early stages there's evaluation, research, and product-market fit assessment. I think it's happening more between the top to the middle of the funnel.
From the middle of the funnel to the bottom of the funnel, there are potential times when face-to-face interactions may make sense, especially if something doesn't feel like it's moving.
8:10 - I think it's too soon to tell, honestly. It's evolving rapidly and quickly. We're seeing a lot of enterprise companies adopt hybrid work policies. While some don't allow remote work. So, I think it's too soon to tell, overall, culturally how remote work and hybrid work are going to unfold.
But throughout 2023, I think we're going to see some really interesting pieces of data continue to develop and come out as the market unfolds and as time unfolds.
10:50 - Consider we have some 15–25 tools that we're asking a salesperson to use. Firstly, do we need all these tools, to begin with? Second of all, are people using them and adopting them? And is there an opportunity for us to consolidate our tech stack a bit to help us reduce cost? Hence, the technologies can be specific to the answers to these questions.
15:34 - From a cut-cost perspective, what are our spending areas, not considering the people for a second? But what are we spending on technology? What are we spending on vendors? What are we spending on some of these auxiliary things in our organization?
And are we utilizing those things in a way that is supporting our bottom line? So, I think a big part of it is scrutiny and taking a lot of immediate action.
19:32 - I think broadly speaking, technology is your friend, especially sales technology is your friend. Another piece of advice I would give people is to try to avoid the activity trap. The temptation as leaders and the temptation as an executive is to put things under a higher degree of scrutiny, maybe even if I'm an executive I joined pipeline review calls. So it's all about finding that balance between what is the right degree of scrutiny versus continuing to support our sales organization through a time where there feels like there's a lot of uncertainty.