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 referralpartner could be a game changer for any B to be company. So what if you couldreverse engineer these relationships at a moment's notice, start a podcastinvite potential referral partners to be guess on your show and grow yourreferral network faster than ever learn more at sweetfish media. DOTCOM, you're listening to the Beta, be growth,show a podcast dedicated to help him be to be executive, achieve explosivegrowth, whether you're looking for techniques and strategies or tools andresources. You've come to the right place, I'm James Carburry and I'mJonathan Green. Let's get into the show. Welcome back to the BT B. Growth ShowWou 're here today with Katy Bullard. This is the second time that we've hadkaty on the show. She is the chief growth officer at discover: Ord Katye.How are you doing today? I'm doing great thanks for Havpening game. I amreally excited to chat with you today, Kay we're going to be talking aboutthree key findings from the recent...

...buyer persona report that UNIOUR teamput out, but before we get into that Katy incase someone didn't listen to the episode that you did with US h earlier.I think it was several months ago now tell us a little bit about discoverorgan. What unior team are up to over there? Absolutely so we're up to a lotthese days, qui quite a bit since the last time we talked um discover, Orgis,actually h the leading sales and marketing intelligence provider for Bto B sales and marketing teams. What that means is that we provide our byerswith all of the data and intelligence that they need in order to identifytheir target accounts, identify the right contacts wit. Those targetaccounts figure out when they're most likely to buy at any given point intime and then toreughly engaged with them with barified direct diales emaladdressed orgcharts, etcetera and just in the past couple of weeks, we'veactually made a big acquisition in this...

...space. So we now serve four thousandthousand marketing teams across the GLOB. THAT'S INCREDIB! That'sincredible! Gay! I know that we we've got a lot to cover here with these three insites for this birepersonerreport. So I wan to just I want to dive right in tell us a little bit at a highlevel. What what was this report that you guys put together? Why did you wantto put it together and then we'll dig into those threeky findings? So ourmission as a company is to accelerate the growth of our customers, and wecertainly know we can help do that by the data and intelligence that wedeliver t. But we also think there's a lot of other ways that we can help ourcustomers grow and we're always we've always been interested in. You knowwhat makes sales and marking teams successful N, in particular, what makescertain sales people successful over other salespeople and and so as we weresdiving into this question and thinking about hey, how do we train ourcustomers to be better salespeople? We connected with STW MARTIN WHOSA ofnoted author in this space. He wrote a...

...book called the IT heavy hitterstrategy and he's he's also really interested in the psychology of sales,and so we parnered with him to develop this report. That was really focussedon how do different groups of buyers very in their preferences of how theylike to be sold to and based on that. What are the applications for thesalespeople, so thosre sort of the background we N W? We did a survey oftwo hundred and thirty be O, be buyers across all different departments andacross all different industries, and I think we weren't sure what we weregoing to find, but the the results actually were were were quiteilluminating and so happy to share some of the the key finding. Ok, this thisfirst, finding that we're going to talk about has to do with a buyer'spropensity to take risk. Can you elaborate on that force? Yeah?Absolutely so one of the things that we were interested in as what whatadvantage did being of the the the primary vendor or the longstandingvendor have um within a buying cycle,...

...and what we found was that it varieddramatically based on the department that we h t that you were selling Yo asa salesperson. So to be ten a little bit more specific. If you have aproduct and you sell to the IT department, it is more important foryou to be a more established bendor selling into the IT department than itis for you to be a more established, bendor selling into the sales ormarketing departments. What we found was that sales and marketingdepartments tend to be more likely to taste, take a risk on the start upright on sort of the emerging on the emerging provider versus departmentslike I t and accounting or engineering, which are much more likely to staywitgoin to be established bendor. So, if you're thinking about you know,you've got to start up whend you're trying to enter space and disrupt hisspace that actually Um can have some...

...pretty there's. Some Pretty Significantdyynamics tat play depending on who you're selling to that makes. Thatmakes sense, as you think, about like the types of personalities that arethat are found on sales and marketing teams versus it, accounting. It's it's not it's not surprising thatthat is is how Yo r your report ended up shaking out. It makes sense, but itI I don't think I ever would have thought about it until you just saidthat so the second thing Kati that we're going to talk about, is somethingyou call the role of the bully with the juice. Can you explain what that means?Yeah I'll give Steve Crat for that term. That's all ham, so you know there'vebeen a ton of statistics out there that say that you know in complex B to besale cycles, there's anywhere between, know five and eight differentinfluencers that you have to get on board as partof the the selling process, which is true, there are typically five to eightinfluencers, but what we found was tha eighty nine percent of the time therewas one person who basically made the...

...final decision and if, as a salesperson,you could get that one person on your side, then, quite frankly, the the influenceof the rest of the committee wasn't all that important, and so the first thingyou had to do is for Yo wh, who is that quote, bully with the Jew en, and Idon't mean that in a bad way I mean the person that you now you've got to.You've got to get on your side. Who is that person and then how do they write?What is important to them? And how do you sort of connect with them? And Ithink that you know, I think we all. If we've been in a sales cycle, we sort ofknow that intuitively and yet at the same time, when we're when we'remapping out our account plan, our opportunity plan we're thinking aboutokay. How do I connect equally with Ol, five or six or seven of these people?The point here is to be really effective, figure that one person isand figure out how to connect with them and everything else will sort of follow.was there were there any any insides...

...related to an h? How do you go aboutfinding who that person is or determining who that person is? Arethere certain indicators that you can look for? We didn't ask questions abouthow to we did not squihion in the sertray about how to look for it, but Ithink I think, y. u know if you think through a typical sales process,there's typically the person who's asking the most questions in thatinitial. In that initial meeting, there's typically that person who, ifyou're, engaging with anyone else, they say Oh 'm, going to run this up throughyou know. So and so, or I'm going to get them to weigh in on this, and sousually pretty early on in a buying cycle, you can figure out who thatperson is and then the trick as like I said, and really it' it's. How do Iconnect with with that person in particular and often times thatperson's the most difficult one to connect to with right they're the onethat sort of stays at arms length from the salesperson? Is it typically theperson with the most senior job title, or doesthat have you found that to to not...

...necessarily be the best indicator? It'snot necessarily directly correlated, certainlysometimes it is, but in some situations it's the person. My frienklis job is onthe line with this purchase decision. Ra, there's, there's somebody who isSORTF staking taking their career on a particular technology that they'rethere buying and so that person might not be the Mo segnor person in the room.It might be the person who said: Hey, trust me, I'm going to get this doneand and and thus theyare the ones who are going to be the the dominantinfluence in that committee kity. This third inside that we're going to talkabout is tbe buying or selling style preferences talk to us about this oneyeah. So we asked a quit. We asked a pretty simple, multiple choice:Question of all the th folks Surmey. The question was: Which statement doyou agree with the most you prefer, a salesperson who won listens,understands and then matches their solution to my problem. Do I prefer asalesperson who challenges my thoughts,...

...perceptions and then prescribes thesolution that I might not have even thought about, or do I prefer a salesperson who earns my trust by making me feel comfortable that they will takecare of my long term needs. So I'm curious e. What do you think the mostcommon response to that question was somebody who listens and matches thesolution. What challenges me or WH earns my trust. I I think my preferencewould be somebody that challenges me, but I I don't know that that wouldnecessarily be what the lion share. Folks would say, but that's that's whatI'll say the the middle one- and I think going into this- that's what Ithought too rightwe're we're so sort of conditioned to think about thechallengers sale in actuality. The most common response was that I prefer aSalsperson who listens to me and then matches their solution to my problem,which is sort of in many ways. What we wordt of trained not to do right, don'tjust listen to them and then immediately match, certainly listen tothem, but then propose alternative...

...solutions, and when you mats that upwith whether the buyer is somebody who prefers to avoid conflict or not thatit became even starker- and I think that's one thing that we have toremember US salespeople- is that typically right, the personality of asalesperson is one who enjoys conflict, who enjoys being challenged. But that'snot Ho. Our buyer is all the time, and if we have a buyer who is trying toavoid conflict and doesn't like to be challenged, then the challengermethodology is probably not going to work on them, and so again it's reallyabout getting in the mind of the Byr and then adjusting the style to them. This is this has been fantastic. Isthere there anything else that Youd you'd like to add to these three keyfindings before we let you go today. You K, I think the one last thing thatI would say is one of the last keyfinings that we discovered was thatthere's there's price sensitivity that varies dramatically again by departmentand if you sell into departments that...

...are cost centers versus Revenue Center,so call Centrs, right, finance, legal, it typocally they're, going to be a lotmore 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.Two hundred and thirty people participated in this study n. If you'reinterested in getting the full version of the study, you can download it onour website, which is www, dot, discover or tcom Katy. Thank you somuch for your time today. This has been fantastic. So I really appreciate itthanks you. If you're a be to be marketer, we wantto feature you on sites like Huffington, post, social media, Examir and chiefmarketer. Every week we send own a question related to be to be markeing.We use the responses to those questions to fuel the content. We write forreally popular websites to Ed over to sweetfish, media, dotcom, faklashquestions and sign up today. Thank you...

...so much for listening until next time.

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