BDO Connections Leveraging Engagement Science to Redefine the Customer Acquisition Process
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BDO ConnectionsLeveraging Engagement Science to Redefine the Customer Acquisition Process
Mark Stuyt
About Mark:
Founder – Chief Engagement Officer
25 year sales professional (CA, Pivotal CRM, PeopleSoft,
SAP)
Advisor to Microsoft & Tier 1 & 2 Microsoft AX/NAV/CRM
Partners: Europe, North America, Asia
Author: Microsoft Accelerated Selling Methodology
Author: Microsoft Industry Acceleration Content
Mark’s contact info:
(604) 617-8522
Website
US ASP pilot partners outperformed peer group by over 50%
- Microsoft Dynamics US R2R
What Will You Learn?
The Buying Brain
Buying Psychology
Emotional Customer Acquisition
HISTORICAL CONFIRMRESEARCH
Changing Engagement PointB u y e r 2 . 0
or
Brain Science
11
24 X 78
e-motion
.
.
350,000,000
40,000
10,000
20
5%Conscious
Logical
Price
Features
Functions
Emotions
Cognitive Biases
Engagement Experience
95%Unconscious
Intuitive
Decision Making is Nonconscious
Buying Psychology
21
Behavioral Economics 101B u y i n g P s y c h o l o g y
Primacy &
RecencyAnchoring
Premature
Cognitive
Commitment
Confirmation
Bias
Consistency
Principle
Required
State
Current
State
BUYING CYCLE
EN
GA
GEM
EN
T S
KIL
LS
Logical vs. Emotional Customer AcquisitionB u y i n g P s y c h o l o g y
Tribal BehaviourB u y i n g P s y c h o l o g y
Emotional Customer Acquisition
E m o t i o n a l C u s t o m e r A c q u i s i t i o n
Features
Requirement
IT
Team Workspaces
Compliance Reporting
Dashboards –
KPIs/Reporting
Jobsite Mobility
Mobile Time Capture
Web Services
BMI Integration
Records
Management
Cloud
EDI
Subscription
Licensing
Text
HOW
Function
Business Process
Management
Project
Collaboration
Project
Management
Budgeting &
Forecasting
Time & Expense,
Billing
Scheduling
Estimating
Inventory Control
Talent Mgmt
Subcontractor Mgmt
Equipment Mgmt.
RFI/Bid/Proposal
Mgmt.
Billing
Text/Video
WHY
(Trigger Event)
Metric
Business Challenge
Leadership
GrowthLarge or complex new project
FearLost a key customer
Project write-off
Utilization <70%
RiskCompliance penalty
Litigation
ControlPoor decision (due to bad
data)
Dialogue/Video
WHATMarket Forces &
Industry Drivers
Economic:
All major private sectors
showing growth
Regulatory:
Rapidly changing
building/zoning codes
Suppliers:
Unpredictable pricing
and supply
Competitive:
M&A - larger,
specialized competitors
Customer:
Risk resistant buyers
(fixed fee
projects/penalties)
Customer’s Customer
Demand for sustainable
buildings
Impacts
Economic:Growing backlog
Larger projects
Regulatory:Requirement for
specialization and training
in new “green”
standards/building
practices
SuppliersProject delays
Lower project profitability
Competitive:Increasing lost bids
Declining margins (BMR)
Customer:Increasing litigation, legal
costs & settlements
Increase in “rework”
Customer’s CustomerIncreasing labour costs
Declining utilization
Product
Innovation
Marketing
Messaging &
Assets
Sales
Engagement &
Assets
Emotional Messaging Framework
2X conversion
Reciprocity – Give to GetE m o t i o n a l C u s t o m e r A c q u i s i t i o n
Retrieved March 2016 http://www.themagicalyears.com/Special_Blog?cmd=post&id=8
600 200
Emotional CommunicationsE m o t i o n a l C u s t o m e r A c q u i s i t i o n
Engagement ProcessE m o t i o n a l C u s t o m e r A c q u i s i t i o n
Conversion
(Arm Raised)
Introduction
(Credential)
Voicemail #1
(Curiosity)
E-mail # 2
(Value)
Voicemail #2
(Risk)
E-mail #3
(Fear of
Loss)
Nurture
400% increase in
prospect response
rates
- Microsoft SMB US
#1 Worldwide 45%
trial conversion
ratio
- Microsoft SMB US
Emotional DiscoveryE m o t i o n a l C u s t o m e r A c q u i s i t i o n
Behavioral Economics 101E m o t i o n a l C u s t o m e r A c q u i s i t i o n
Buying Decisions Are Made Early
Emotions Drive Decisions
Safety>Gain
Tribal = Survival
Decision Making is Wildly Irrational, yet Highly Predictable
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