Interesting article it's open paragraph is
"Most companies are getting digital transformation wrong, assuming that the correct response to digital disruption must involve the deployment of modern technologies, according to the author of the best-seller 'The Technology Fallacy.' In reality, effective digital transformation may not involve new technology at all."
Which is 100% true.
We hear of so many companies that have a problem with sales, like a lack of pipeline, or not being able to close enough deals and so they invest in a tool.
We have all heard of the Grady Booch saying
"A fool with a tool, is still a fool".
I friend of mine spent close on $ million dollars on a tool that was going to automate the sales process, within twelve months the tool had made no impact and it was thrown out. A total waste of time and money.
Another friend of mine works for a company where they were getting zero response from the emails they sent out so they switched email marketing engines. Can you guess what the response was? They still got zero response from the new email marketing tool as well.
The tool, I'm sure does what it was supposed to do, but they didn't take into account that nobody is interested in your newsletter and nobody is interested in your sales email.
Yes another failed and cancelled sales initiative.
What are we going to to solve our sales pipeline problem?
Did you read this week that Merrill Lynch Wealth Management unit is banning cold calling?
“We are leaning much more heavily on leads and referrals from the broader company,” Merrill President Andy Sieg said. “There is also an opportunity to be much more modern in terms of the way we are reaching out to prospective clients.”
The revamped program is intended to bring the firm’s prospecting techniques into the digital era and boost completion rates.
"They will also be encouraged to contact prospects over LinkedIn, which has a higher hit rate than cold calling." Said Mr. Sieg
What are McKinsey saying about sales today?
To summarise the table and write it in plain English
McKinsey say you should be social selling ..... Period.
Out performers are social selling and they are using a methodology to do it.
NB: If you are thinking of going to McKinsey for social selling training, you might want to check us out as well. :)
Outperformers lean into talent development
McKinsey go onto say, as above, that training needed to be tailored and continual.
So there you have it, if you want to be an outperformer, you need to get your sales people social selling. While I agree (of course) this isn't me saying it, it's McKinsey.
Here is a quote from Howard Tierskywho kindly made this comment on one of my tweets
Digital Transformation Requires More Than Technology Upgrades