In this post we will look at the results of research done by the Megadeals team, showing the 7 most common challenges for B2B companies doing enterprise deals and Megadeals.
#1. There’s a dependency on 1-2 rainmakers.
This bandwidth issue is common even in large corporations, hindering them from scaling and maximising their growth.
As a result of the #rainmakers not being able to work with enough large deals simultaneously, the companies end up pursuing the deals by sending less qualified teams, even though they’ve got a higher risk of failing.
#2. Messaging is often created in silos, ad hoc, and individually instead of as a team and cross-functionally.
Too few companies collaborate in the making and shaping of the Messaging Architecture and its content. Often brand guidelines exist and also corporate values and behaviours but the messaging architecture is lacking or is only top of the funnel or is made by individuals here and there.
#3. Most companies are too LEAD CENTRIC, with the marketing team usually spending too much time, money, and other resources (TOP OF THE FUNNEL) rather than partnering with sales to close deals (full funnel).
The sales professionals are left on their own, trying to influence an entire ecosystem of stakeholders and decision-makers. The high performing megadeals organisations builds a marking machinery around their rainmakers with powerful messaging turned into content in form of videos, ads, posts, articles etc distributed through a mix of martech techniques targeting stakeholders in the client ecosystem. The high performing organisations creates full funnel content to scale the customer facing organisation to infiltrate the target accounts.
#4. Many companies lack a systematic approach to industrialising marketing and sales for large complex deals.
Also, the companies cannot create and execute Full-Funnel Content, Account-Based Marketing, and Enterprise Social Selling.
#5. Most sales professionals are too analog and dependent on physical touch points such as f2f meetings, emails and calls.
The digital wave has changed the landscape of industry after industry, requiring the great sales professionals of the past that used to sell in an analog manner to “Become More Media.”
#6. In the research done by Megadeals, we saw that companies are still talking too much about how great they are, the benefits, and how great the features of their services or products are.
The winners are talking more about their target segments, the customers’ change drivers, category choices and sub category choices.
#7. Marketing money and people usually sit in the Business areas/product centers instead of being closer to the deals.
This challenge is normally only valid for very large companies; When you want to systematise the marketing and sales around enterprise deals and Megadeals: Most companies typically choose between buying from scattered vendors, such as, for example, a sales coach, a social selling coach, a PR firm, a marketing agency. Or, they go to a vendor that has built a discipline covering marketing, social selling, sales, etc around large deals.
The struggle when you buy from many different vendors is that it’s hard for the company to make it a team play, and it’s also hard to onboard new team members.
If you want to find out more about common challenges, the research behind the information gathered, or if you want to know more about #Megadeals overall. Don’t hesitate to contact us, or order the Megadeals book.