00:00 Pim Roelofsen: Welcome to The MedMen Show. Today we are talking about the biggest red flag with metrics. 00:05 Andy Whyte: Hit me. 00:06 Pim Roelofsen: I think it's the personalization of it. If your metrics are sounding the same for all stakeholders on the customer side, you've got work to do. And I guarantee — I'd love to be able to do this — if we could look into the world of sales and into all those beautiful Salesforce CRM boxes titled M for metrics, what percentage would break down the metric by stakeholder? Very, very low — probably something like 0.1%. Next level up: what percentage are breaking it down by discipline, department, level, or basically a cohort of the customer's business? Still low — maybe around 3%. And I think this is the key point. People do the same with pain too — they think of it as company-wide. And of course at some level it is. But if you're operating at the company level of pain or metrics, you're not far enough in. You're not getting deep enough into the value or the implications of solving it. That's a red flag. 01:26 Andy Whyte: It's a red flag. But it also — based on this very scientific data — presents a massive opportunity. We can probably all agree that not many people are doing this right all the way down to personalizing at the stakeholder level. And it's still tying to the same pain, maybe the same metric — but the way it shows is personalized to whoever is receiving it. So if that's mostly true for the majority of our industry, and we start doing this — how much upside is there to unlock? How many more winnable deals? More than we're winning today. 02:06 Pim Roelofsen: Yeah. For me it's tied into everybody's vested interest. Most stakeholders inside our customer's business who have the company's interests at heart — that's the main thing — they'll be looking for that to justify an investment in a solution like ours. But it's not going to be what makes them put your solution to the top of their priority list. Their priority list is their priorities. So if you've got a metric that is some company North Star — quite far from their day-to-day interests — they're not going to be as enthused about it as another investment competing for the same budget or resources. And that doesn't have to be a direct competitor — it could be a completely different initiative. 02:52 Pim Roelofsen: If the other initiative on their desk aligns to their vested interest — which we know could be anything from getting home at a decent time because they're not running batch reports, to something they see as getting them a promotion, their bonus, or just them being genuinely excited about the department doing well — if you don't get close enough to those interests and quantify the value of what you can bring with metrics, you're leaving opportunity on the table. 03:33 Andy Whyte: And I think when people look at this from a zoomed-out level, they'll think about it as the deals won and lost because of this. But that's a fairly light way of looking at it. Because we all know — everyone listening will have worked on a deal where multiple stakeholders were turned on by your solution. And think about what that did — not just to your conversion rate and chances of winning, but to deal size and the speed at which it was closed. Because all of a sudden instead of just one person's vested interest, it's five people's. That's five multiples of momentum helping you get your contract to the top of the redlining queue, helping you get the first meeting in procurement's calendar, helping the economic buyer above all of them say: "Yeah — this is the one we're going to prioritize." So it's not just binary — did we win or lose. It's: we increased our chance of winning, and also we closed it faster, for higher value. 04:44 Pim Roelofsen: Yeah. There were so many light bulb moments in that. And it actually started some thinking around development as well. Because when you're early in your sales cycle, you typically work with this initial person — your proposed champion. You position an M1, reach consensus, start the M2. And this is where you don't want to stop. You want to get to a state where it's fully personalized at the stakeholder level. Data in our industry says that in mid-market, seven stakeholders on average are needed for a successful evaluation — for it to ultimately become a deal. In enterprise it's about double that. So if you start to think about what the M2 can do — if we can personalize it for all 7 to 14 people, they will go through fire and through walls for you. Because their vested interest is tied to it. The more effort we put into that, the higher our win rates will be and the more condensed our time to close will be. It's as simple as that. I'm not saying it's easy — but if you put in that effort, it will pay big dividends. 06:03 Andy Whyte: Yeah. Well, that's the beauty of anything difficult in sales — I get excited about it. Because I know it gives me an opportunity to stand out from my competition. To be seen as the only vendor, the only partner, who has really sat down and worked with the customer to get past those high-level metrics and really get into it. No pain, no gain. And — we don't normally do plugs for any of our products on any of our shows — but what you're talking about is really a big part of our new Blueprint product and why we've invested so much in it. Because the idea of having 14 people in an average enterprise deal, all with different interests — well, what you'll probably find is that at the macro level, their interests, the pain and the value of solving that pain and quantifying it through metrics, will be quite relevant to their role. And so we can actually help our customers get at least halfway there by saying: OK, that person's a CEO — this is likely to be their vested interest, one of maybe three. Same with the CTO — this is likely to be their vested interest. And therefore, what are the metrics that are going to really catch their attention? 07:25 Andy Whyte: We can go around all the different typical personas our customers would see in an engagement and help them create a cheat sheet: "Who are you missing? Oh — head of advertising. Typically when a head of advertising is looking at our solution, these are the metrics that turn their head." And then as you said — when you go from telling the value in story format as an M1, and evolve it into an M2 where you personalize it to their numbers — it becomes a starting point. It gives you a way to capture their attention, show them you've done it before, and get them interested in finding out more. 08:06 Pim Roelofsen: Yeah. And I've seen Blueprint being deployed with customers a few times now — you get a really clear picture of what that motion looks like. The effect is that you find personal vested interests relating to the same pain — so that each of those stakeholders, whether it's an asset manager, a CISO, a CIO, a CEO or anything in between, gets an individual talk track. A personalized M2. And what you create — the output — is an army of champions. Because the majority of the evaluation is happening behind closed doors. So when you're not there, all the work you've put in leads to exactly the result you're after: making an impact for the customer, winning the deal bigger and faster. Happy days. 08:51 Andy Whyte: An army of champions. I'll drink to that. Cheers! 08:55 Pim Roelofsen: Cheers!
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