This is a magic quadrant with a difference. As the MQ is associated with Gartner’s annual market trend reports that IT firms count on for competitive differentiation, am I infringing on their copyright?
To be safe, maybe I should go with abracadabra as the nomenclature for the theory I am about to define. But then the word is a mouthful, even archaic, with too many syllables.
Let me just call it the Pursuit Quadrant (PQ). I love the name, it looks like I must register it as a trademark and even get the domain locked.
This post is about winning deals and about opportunities that slip away. Enabling a sound win rate is more important than building a big pipeline. It’s a dip into what’s key for effective pursuit management and what’s scuttling it.
I will start by identifying the factors that are vital for businesses to put their best foot forward on bids. I will rely on a quadrant for it – the Pursuit Quadrant, that is!
This applies to not just sales and sales-enablement (bid managers, etc.) professionals but businesses as well.
If the current state tabulated above is allowed to linger, you can expect automation to consume the chasers and the checkbox brigade – be they in sales enablement or the frontline. It will not be a washout as the human factor will remain relevant.
Some form of hybridisation will become the norm. A combination of human resources and virtual assistants (VA) will become inevitable over time – as is increasingly evident in self-service areas of business operation.
Businesses will get the cost benefits they seek for an enhanced customer experience (CX). Customers have no time to wait – they want personalisation and instant gratification. How they get what (through people or VA or a man-machine combination) becomes trivial as it is the outcomes that count.
For people nervously watching AI making a pervasive push across all areas of business and staying entrenched with the current state will only see an acceleration in their fears becoming real.
Even for technology vendors selling businesses solutions aligned with market trends, this can be a boon as it will translate to lower costs. Their challenge is around ensuring winnability and profitability of their deals.
They will need to be nimble and quick in embracing value-selling concepts. Value selling, though, is not to be confused with value proposition. It is about how they succeed in navigating around a customer’s perception of value. It is a dynamic concept that varies from customer to customer, project to project.
The following Future State table captures the essence of winning deals with effective pursuit management. It may not be fool-proof, but it will ensure every possible effort is made to enhance winnability.
As the pressures of automation will continue to mount on manpower and as the competitive environment gets intense for businesses, the way forward is clear: Embrace the Future State with a sense of urgency.
G Joslin Vethakumar