Boost Sales Reps’ Effectiveness By Moving Sales Engagements from Pitch to Purpose
Buyers are frustrated, they suffer from a serious case of data overload. A recent research report from Gartner indicates just how much buyers are struggling with buyer journey friction. They spend two-thirds of their time gathering, processing, and de-conflicting information and ultimately, trying to figure out where their business problems and your solution fit into a tornado of marketing messaging.
Worse, 94% of surveyed buyers have participated in a canceled buying cycle. This is why you see up to 60% of deals in sales pipelines not being lost to the competition, but lost to the status quo – the “do nothing” buyer (Sales Benchmark Index).
In today’s environment, you have to figure out a way to help your prospects fix their de-evolved buying process or face even more “do nothing” losses. This is why digital sales transformation isn’t optional.
3 Reasons More is Less in Today’s Buyer’s Journey
It’s true, today’s changed buying journey has left your prospects more empowered with information about you and your competitors, and with more leverage. But that’s only part of the story; they also have more information to sort through and understand more choices (which seems good to begin with but ultimately leads to more confusion and conflicting views), and more financial scrutiny from more stakeholders. No wonder why your purchase efforts and your sales cycles are ending in “do nothing.”
1) More Decision Makers: More stakeholders than ever are engaged in buying decisions. Gartner cites that more than 13 people are typically involved in an enterprise technology buying team – the majority of those actively driving buying efforts and the rest who occasionally get involved in the review and approval processes.
2) More Choices of Solutions: The sheer amount of information available to your buyers can be daunting. They spend most of their time sifting through marketing messages from you and your competitors. More choices lead to more uncertainty and more doubt, which makes it harder to move forward with any action at all.
3) More Executive Scrutiny: Gartner research indicates a meager 1 in 5 buying decisions are led by IT people. Nearly 3 in 4 (enterprise purchase decisions) are driven by C-level executive management or the business unit taking the lead. This means amplified scrutiny over each dollar being spent on your solutions, and sellers who may not know the language of these new buyers. Also, your prospects are more risk averse for fear of making a mistake (which could mean their job), requiring more diligence and formal financial justification.
There is an incredible competitive opportunity to help your prospects navigate a de-evolved buying process, and eliminate this friction. Unfortunately, if you are like most organizations, the majority of your sellers are not pivoting to meet your prospect needs. In fact, research indicates that:
- 93% of sales content remains provider and solution-centric vs. focusing on buyer challenges and value
- 48% don’t effectively articulate the business value outcomes of proposed solutions
- 71% of buyers report being turned off by this sales-pitch content
Value-Based Selling Best Practices Increase Sales Effectiveness
Many companies understand the inherent value of their product or service, but stale sales enablement practices and sellers’ resistance to change often hinder their ability to effectively communicate that value to buyers. Because of this, the buyer perceives the product to be much less valuable than it really is and sales are stalled or lost.
We call this the Value Gap, a divide between buyer expectations and a traditional sales and marketing product or service pitch. The de-evolved buyer’s journey – while frustrating and often debilitating for buyers- presents sales reps with a unique opportunity to close the value gap.
Instead of “showing up and throwing up” with a static, one-size-fits-all presentation, your sellers can evolve in ways that allow them to better communicate and quantify the unique value to buyers using the value-based selling methodology.
For inundated buyers climbing their way out of a pile of noisy, messy collateral, a personal, memorable story about their challenges and your solutions is just what they need (and deserve) – particularly when its the story of their business. Fueling better customer engagements is what true evolved (aka modern) sellers do, by telling a more effective, ROI-rich, value story that walks your prospect through the last mile of the purchase decision.
Enabled reps are evolved reps because they approach sales meetings with the confidence that sales enablement technology, analytics and insights bring – interactive presentation tools, customized, agile content that meets buyers exactly where they are, and prescriptive solutions backed by personalized insights. When your sales reps engage buyers with sales enablement technology – specifically AI-powered, actionable data – they can not only spend their time diagnosing business issues for customers and prospects, they can offer value-based solutions that actually matter to them.
When 1 in 5 buyers indicate their sales reps have a “poor” understanding of their business needs (Primary Intelligence), it’s time to evolve and start telling a new story – the one in which the buyer is the hero by utilizing the value of your solution.
Learn more about how Mediafly’s value-led, diagnostic approach can impact the de-evolved buyer’s journey and ultimately, ignite change in buyers.