532: 3 Key Insights You Need to Understand About Your Buyer w/ Katie Bullard

ABOUT THIS EPISODE

In this episode we talk to Katie Bullard, Chief Growth Officer at DiscoverOrg.

A relationship with the right referral partnercould be a game changer for any be to be company. So what ifyou could reverse engineer these relationships at a moment's notice, start a podcast,invite potential referral partners to be guests on your show and grow your referral networkfaster than ever? Learn more at sweet fish Mediacom. You're listening to thebe tob growth show, a podcast dedicated to helping be to be executives achieveexplosive growth. Whether you're looking for techniques and strategies or tools and resources,you've come to the right place. I'm James Carberry and I'm Jonathan Green.Let's get into the show. Welcome back to the BE TOB growth show.We are here today with Katie Bullard. This is the second time that we'vehad Katie on the show. She is the chief growth officer at discover or. Katie, how you doing today? I'm doing great. Thanks for havingme, James. I am really excited to chat with you today. Katie. We're going to be talking about three...

...key findings from the recent buyer personareport that you and your team put out. But before we get into that,Katie in case someone didn't listen to the episode that you did with USearlier, I think it was several months ago now, tell us a littlebit about discover Org and what you and your team are up to over there. Absolutely. So, just well, we're up to a lot these days, quite quite a bit since the last time we talked. Discover organ isactually the leading sales and marketing intelligence provider for Bab sales and marketing teams.What that means is that we provide our buyers with all of the data andintelligence that they need in order to identify their target accounts, identify the rightcontacts of those target accounts, figure out when they're most likely to buy atany given point in time and then directly engaged with them with verified direct dials, email addresses, org charts center. And just in the past couple ofweeks we've actually made a big acquisition in...

...this space. So we now servefour thousand sales and marketing teams across the globe. That's incredible. That's incredible. Okay, I know that we've got a lot to cover here with thesethree insights from this buire person or report. So I want to just I wantto dive right in. Tell us a little bit at a high level. What what was this report that you guys put together? Why did youwant to put it together? And then we'll dig into those three key finding. So our mission as a company is to accelerate the growth of our customersand we certainly know we can help do that by the data and intelligence thatwe deliver, but we also think there's a lot of other ways that wecan help our customers grow and we're always, we've always been interested in, youknow, what makes sales and marketing teams successful and, in particular,what makes certain salespeople successful over other salespeople. And and so as we were sortof diving into this question and thinking about, hey, how do wetrain our customers to be better salespeople, we connected with Steve W Martin,who's a noted author in this space.

He wrote a book called the ITheavy hitter strategy and he's also really interested in the psychology of sales, andso we partnered with him to develop this report that was really focused on howdo different groups of buyers vary in their preferences of how they like to besold to? And then, based on that, what are the applications forthe salespeople. So that was sort of the background. We know, wedid a survey of two hundred and thirty be to be buyers across all differentdepartments and across all different industries, and I think we weren't sure what wewere going to find, but they the result actually we're quite illuminating and sohappy to share some of the the key findings. So, Katie, thisthis first finding that we're going to talk about has to do with a buyerspropensity to take risk. Can you elaborate on that for us? Yeah,absolutely. So one of the things that we were interested in is sort ofwhat, what advantage did being kind of the the the primary vendor or thelongstanding vendor have within of a buying cycle,...

...and what we found was that itvaried dramatically based on the department that we that you are selling to,you as a salesperson, so to be. To get a little bit more specific, if you have a product and you sell to the IT department,it's more important for you to be kind of a more established vendor selling intothe it department then it is for you to be a more established vender sellinginto the sales or marketing departments. But we found was that sales and marketingdepartments tend to be more likely to taste take a risk on the startup,right on sort of the emerging on the emerging provider, versus departments like itand accounting or engineering, which are much more likely to stay with kind ofthe established vender. So if you're thinking about you know, you've got astart up and you're trying to enter space and disruptive space, that actually canhave some pretty there's some pretty significant dynamics...

...at play depending on who you're sellingto, and that makes that makes sense as you think about like the typesof personalities that are that are found on sales and marketing teams versus it accounting. It's not it's not surprising that that is how your report ended up shakingout. It makes sense, but it's I don't think I would ever wouldhave thought about it until you just said that. So the second thing,Katie, that we're going to talk about is something you call the roll ofthe bully with the juice. Can you explain what that means? Yeah,I'll give Steve Credit for that term. That's that's all him. So youknow, there have been a ton of statistics out there that say that,you know, is in complex, the be to be sales cycles. There'sanywhere between, you know, five and eight different influencers that you have toget on board as part of the selling process, which is true. Thereare typically five to eight influencers, but what we found was that eighty ninepercent of the time there was one person...

...who basically made the final decision andif, as a salesperson, you could get that one person on your side, then, quite frankly, the the influence of the rest of the committeewasn't all that important. And so the first thing you had to do isfigure out right who is that quote bully with the juice, and and Idon't mean that in a bad way, I mean the person that you've know, you've got to you've got to get on your side. Who is thatperson? And then how do they write? What is important to them and howdo you sort of connect with them? And I think that it. Youknow, I think we all, if we've been in a sale cycle, we sort of know that intuitively. And yet at the same time,when we're when we're mapping out our account plan or opportunity plan, we're thinkingabout okay, how do I connect equally with all five or six or sevenof these people? The point here is to be really effective, figure thatone person is and figure out how to connect with them and everything else willsort of follow. was there where there any any insights related to kind ofhow do you go about finding who that...

...person is or determining who that personis, or there certain indicators that you can look for? We didn't askquestions about how to we didn't ask questions in the Surt right about how tolook for it, but I think, I think, if you know,if you think through a typical sales process, there's typically the person who's asking themost questions in that initial in that initial meeting, there's typically that personwho, if you're engaging with anyone else, they say, Oh, I'm goingto run this up through you know so and so, or I'm goingto get them to weigh in on this and so. Usually pretty early onin a buying cycle you can figure out who that person is and then thetrick is, like I said, and really it's how do I connect withwith that person in particular? And oftentimes that person is the most difficult oneto connect with right they're the one that sort of stays at arm's length fromthe salesperson? Is it typically the person with the most senior job title,or does that have you found that to...

...not necessarily be the best indicator?It's not necessarily directly coore that. Certainly sometimes it is, but in somesituations it's the person who, quite frankly, whose job is on the line withthis purchase decision. Right, there's there's somebody who is sort of stakingtaking their career on a particular technology that they're that they're buying, and sothat person might not be the most senior person in the room, it mightbe the person who said, hey, trust me, I'm going to getthis done and and and thus they are the ones who are going to bethe the dominant influence in that committee. All Right, Kitty. This thirdinside that we're going to talk about is the buying or selling style preferences.Talk to us about this one. Yeah, so we asked a q. Weasked a pretty simple multiple choice question of all of the the folk survey. The question was which statement do you agree with the most? Do youprefer a salesperson who won, listens, understands and then matches their solution tomy problem? Do I prefer to sales...

...person who challenges my thoughts, perceptionsand then prescribes a solution that I might not have even thought about? Ordo I prefer a salesperson who earns my trust by making me feel comfortable thatthey will take care of my long term needs? So I'm curious, seems. What do you think? The most common response to that question was somebodywho listens and matches the solution, who challenges me or who own earns mytrust. I think my pres friends would be somebody that challenges me, butI don't know that that would necessarily be what the Lion Chair of folks wouldsay, but that's that's what I'll say. The Middle One, and I thinkgoing into this that's what I thought too. Right, we're so sortof conditioned to think about the challenger, sale and actuality. The most commonresponse was that we I prefer a salesperson who listens to me and then matchestheir solution to my problem, which is sort of, in many ways,what we were sort of trained not to do. Right, don't, don't. Don't just listen to them and then immediately match. Certainly listen to them, but then propose alternative solutions. And...

...when you matched that up with whetherthe buyer is somebody who prefers to avoid conflict or not, then it becameeven starker, and I think that's one thing that we have to remember assalespeople is that typically right, the personality of a salesperson is one who enjoysconflict, who enjoys being challenged, but that's not who our buyer is allthe time. And if we have a buyer WHO's trying to avoid conflict anddoesn't like to be challenged, then the challenger methodology is probably not going towork on them. And so again it's really about getting in the mind ofthe fire and then adjusting the style to them. Kitty. This is thishas been fantastic. Is there there anything else that you you'd like to addto these three key findings before we let you go today? You know,I think the one last thing that I would say is it one of thelast key findings that we discovered was that there's there's price sensitivity that varies dramatically, again by department and if you sell...

...into departments that are cost centers versusRevenue Center, so cost centers right finance legal it. Typically they're going tobe a lot more price sensitive than if you're selling into revenue centers like salesand marketing, and so that's again something to keep in mind as as you'regoing through your sales process. But overall, again it was great findings. Twohundred thirty people participated in this study. If you're interested in getting the fullversion of the study, you can download it on our website, whichis www dot discover orgcom. Katie, thank you so much for your timetoday. This has been fantastics. I really appreciate it. Thanks, James. If you're a BEDB marketer, we want to feature you on sites likeHuffington Post, social media examiner and chief marketer. Every week we send outa question related to be to be marketing. We use the responses to those questionsto fuel the content we write for really popular websites. So head overto sweet fish MEDIACOM backslash questions and sign...

...up today. Thank you so muchfor listening. Until next time,.

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