"A recent McKinsey study indicates that CPG companies with innovative sales and marketing teams grow 4.1% faster than those who lack innovation".
As I read that headline I thought 'no shit Sherlock', of course innovative companies will win out.
I then looked at some recent stats from 'Gartner and Forrester' which seemed to back up this piece.
In summary the research is essentially saying that today prospects are taking more of the initiative in the buying journey, they are doing this by performing significant levels of due diligence prior to any contact with a short list of potential vendors.
This change in 'buying behaviour' is being driven by companies who are not only considered to be innovative, but have the ability to demonstrate that in a completely different way than ever before.
It's underpinned with the Gartner and Forrester research which tells us that today over 68% of pre-sales research is being carried out by your prospects in the online space, and the last place they are going to is a potential vendors website.
They are investing over 40+ hours, which includes circa 8-10 internal stakeholders, and what is it they are looking for we might ask?
'Social Proof' is one of the biggest key drivers in forming that opinion with key decision makers because they are looking to evidence that what your shiny 'corporate' brochure and website is saying about you.
They want to know what other people that you have worked with, been a client of, and they are also also checking out you and your team - all on Social Media.
So, if you, your team, and your company don't have a great personal and company brand, combined with a robust and aligned social media strategy, who do you think is going to win that next deal?
If you would like to better understand how to rise to these challenges, drop the author of this blog a short note, i would be more than happy to talk things through.
Driving Growth at CPG Companies: How Commercial Excellence & Digitization are Key.