Welcome to the RevOps Co-op webinar series! Join Mark Lerner, Director of Growth Marketing at DealHub, as he engages in a thought-provoking discussion with Sean Whitestone, an Operating Partner at Venture Tech Group.
DealHub specializes in native CPQ solutions for various CRMs, while Venture Tech Group focuses on go-to-market strategies and technologies. In this episode, they delve into the reasons behind the high failure rate of B2B digital transformations, the impact of rapid market changes on CPQ processes, the importance of agile methodology, and the crucial role of stakeholder involvement in design and adoption.
Mark Lerner and Sean Whitestone kick off the discussion with a startling statistic: three-quarters of digital transformations fail, primarily due to a lack of user adoption and behavior changes.
Sean emphasizes that this figure might be underrepresenting the reality, as many end-users are often left out of the process, leading to even higher failure rates. He stresses the importance of involving end-users from the beginning to ensure that implementations meet their needs and drive genuine improvements.
"Three-quarters of digital transformations fail, primarily due to a lack of user adoption and behavioral change." – Sean Whitestone
Rapid changes in the market have wreaked havoc over the past few years. Mark highlights the unprecedented pace of change, from the global pandemic to economic fluctuations, which have forced B2B buyers and sellers to adapt quickly.
Sean points out that companies must be agile and responsive to these changes, especially in CPQ (Configure, Price, Quote) processes. He notes that pricing models and discount matrices must be flexible and easily updatable to remain competitive.
Sean advocates for the adoption of agile methodology in CPQ implementations. Agile methodology focuses on delivering a minimum viable product (MVP) quickly, allowing for rapid iterations and improvements. This approach ensures that businesses can respond to market changes effectively.
Sean explains that this methodology helps to avoid lengthy and bloated projects that can become obsolete before they are even completed. By focusing on critical elements and iterative improvements, companies can achieve faster time-to-value and uncover new requirements as they evolve.
"Agile methodology ensures that businesses can respond to market changes effectively, avoiding lengthy and bloated projects." – Sean Whitestone
A significant part of the discussion revolves around the importance of involving diverse stakeholders in the CPQ implementation process. Sean notes that successful implementations require input from various departments, including sales, operations, finance, and customer success. This cross-functional involvement ensures that all dependencies are considered, leading to a more comprehensive and scalable solution.
Mark adds that failing to involve these stakeholders can result in misaligned tools that do not meet the needs of the organization, ultimately hindering user adoption.
"Involving diverse stakeholders in the CPQ implementation process leads to a more comprehensive and scalable solution." – Sean Whitestone
User adoption is a critical factor in the success of any digital transformation. Sean shares strategies to drive adoption, emphasizing the need to balance must-have features with nice-to-have elements. He recommends a crawl-walk-run approach to implementation, which provides quick wins and incremental improvements. By delivering tangible benefits early on, companies can build momentum and buy-in from users. Sean also highlights the importance of clear communication and aligning the new tools with the incentives of the users, ensuring they see the value in the change.
Mark and Sean discuss the challenges of change management, particularly in organizations with long-standing processes and resistant users. Sean underscores the need for empathy and understanding, encouraging leaders to walk a mile in their users' shoes. This approach helps design systems that genuinely address user needs and reduce resistance. He also suggests using both carrots and sticks intelligently to drive compliance and adoption, balancing incentives with clear expectations.
Mark and Sean explore the dual goals of speed and accuracy in quoting, noting that a streamlined quoting process is essential for maintaining competitive advantage. They discuss the importance of single sources of truth and collaborative tools that integrate approvals and discounting seamlessly. By ensuring that quotes are accurate, timely, and reflective of the discussions with buyers, companies can enhance their closing rates and reduce friction in the sales process.
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