6/7/2016 – Interview with KnowledgeTree
Let’s Get Real.
In this series, we interview sales tool providers and get real about the problems they’re solving and why you should care (or not).
This week I interview Peter Mollins, Vice President of Marketing, KnowledgeTree.
Nancy: I ask guests to answer the first question using what I call the “You know how…” format. Tell us, what does your solution do?
Peter: You know how Marketing teams create a ton of great content, yet 85% of marketing collateral is never used by sales organizations? And in some cases we’ve seen, that number is still higher. That’s a massive amount of material that is left on the shelf.
At the same time, Sales wants content (95% of reps think content is essential to advance deals), but reps can’t find the material, don’t know what content to use when, or lack confidence that using content will help them advance a deal.
KnowledgeTree boosts rep usage of content and provides valuable insight for Marketing into content’s true ROI. With a data-first approach to sales assets, we help organizations create content faster, discover content anywhere, and predict winning content to push to reps via email and Salesforce.com. We link revenue to what’s been shared in closed-won deals so that best practices can be copied by other reps in similar sales situations.
Nancy: That sounds like a problem worth solving (and a worthy solution). But let’s get real, sales and marketing organizations have a lot of challenges and they have to make choices about which to solve first. Why shouldn’t they continue with things the way they are if they’re getting by? What are the ramifications of not solving the problems you outlined?
Peter: Data shows that about 20% of a B2B company’s marketing budget goes to content; that means that on average 17% of the average marketing spend goes to content with little direct impact on revenue. When marketers know how the sales team interact with prospects, they can spot gaps and better identify what content ought to be built or enhanced.
And sales needs content to more effectively hit revenue goals. Every time a sales person interacts with a prospect, they need to add value. With content going unused, that means that sales people are significantly less engaging with their prospects. The messaging they send and the content they share to help build business cases are simply less interesting for prospects and less likely to advance a deal.
Nancy: What types of questions should Marketers ask to decide whether solving this problem should be a high priority?
Peter: Marketers should consider whether they have a lot of content and whether they know the ROI on that content. The ROI is important because otherwise marketers are blindly creating content that may or may not advance deals, if it’s used at all.
Marketers have more on their plates than ever before and need to be able to make smart decisions about how to focus content creation. Sales enablement offers actionable insights into what content is most effective in advancing deals. Marketers can leverage this information to make better-informed decisions and to truly understand the impact of their marketing efforts.
Nancy: What types of questions should Sellers ask to decide whether solving this problem should be a high priority?
Peter: First, does Sales know how to find content to share with prospects? Second, does Sales know what content to use to advance and close deals?
If the answer to either of these questions is no, then sales enablement needs to be a high priority. Reps need the right content at the right time in order to add value to the conversation, engage prospects, and advance the deal. A sales enablement tool pushes recommended content to reps just-in-time – no searching or guesswork required.
And because these recommendations are based on real-world results in real-world contexts for each company it inspires significantly more confidence in the content. That means reps use more — and more effective — content with their prospects.
Nancy: This question is your choice. What do you want to answer that I didn’t ask?
Peter: “What makes you different from other solutions?”
Our data-centric platform creates a virtuous cycle for sales and marketing teams. It uses predictive analytics to recommend winning content to sales reps. And deep insight into content performance identifies which content to invest in.
Data across millions of sales interactions provides best practice guidance on what assets drive revenue. Our customers have seen an 83% increase in content sharing by sales reps, 257% more content views, and a 46% lift in core selling time.
Nancy: What should people do next?
Peter: Want to see how you can centralize your content in one place and use predictive analytics to push content to reps? Start for free today!
Stop by and see KnowledgeTree in action at the Sales Enablement Soiree at Hotel Zetta during Dreamforce 2016.