Adopting Customer-Centric Selling
Recent market studies reveal dramatic changes in today's purchasing journey for B2B buyers, along with some unprecedented predictions for how things will evolve over the next five years. The future of sales requires even more agility, and this trend is only going to continue.
According to research by Gartner, B2B buyers want an experience that includes multiple touchpoints between themselves and suppliers. B2B buyers are using more digital tools and doing more product research on their own before they meet with sales reps.
This doesn't mean that field sales experts don't have a place in the future, but it does mean that their role, as well as how they interact with customers, has changed. Sales reps need to be prepared to educate customers and incorporate digital experiences at the right inflection points in the purchase process.
The most successful companies are investing in research to understand their customers' new buying journey. By identifying where to provide information, and what level of information and support is appropriate, they are able to reduce friction in the B2B buying process. More B2B vendors are aligning internal functions such as marketing, internal sales, external sales, and customer service to provide the right information at the right time in the right way to promote customer success.
of B2B sales interactions will occur through digital channels1
of B2B buyers initiate their purchasing journey independently1
Reimagining the Purchasing Journey
Similar to Gartner's findings, research from Challenger reveals that 89% of B2B buyers initiate their purchasing journey independently.2 Since customers are not reaching out to field sellers at the start of the buying journey, marketing efforts have become even more crucial. It is vital that the brand is shown in strategic places where the target audience looks for product and solution information. Marketers who increase visibility by synchronizing social media advertising with email nurturing campaigns can increase conversions from known contacts up to 64%.3
When prospective customers narrow their search and start evaluating a smaller group of solutions, the sales team needs to be ready to step in with recommendations tailored to meet their needs. This means being prepared to engage quickly through the right channel with the right product bundle or solution. The most successful sellers are ones who have organized tools and communication ahead of time in preparation for the customer interaction.
After the initial customer discussion, sales reps focus on aligning stakeholders and driving them towards purchase. Unfortunately, recent Challenger research reports that almost half of B2B purchasing journeys result in "no decision."4 This distressing statistic highlights the deficiency most sales organizations have regarding stakeholder relationship building and access to solutions that solve the needs of various organizational stakeholders. Best-in-class B2B sellers must drive decision-making through consultative selling and a deep understanding of the customer's needs in order to manage stakeholder expectations throughout the decision making journey.
After purchase, customers report that less than 30% of sales reps stay involved in post-sales support and deliver what was promised during the sales process.5 Companies continue to struggle with how to strengthen competencies in this area. Many companies are supplementing sales rep participation in post-sales support by introducing a Customer Success team to handle customer onboarding, training, and support. Providing robust customer training and implementation support to improve customer experience has a significant impact on the decision to renew a contract and drive customer loyalty. The key to driving sales effectiveness in today's B2B market is to align sales resources with customer insights in the way that customers want to buy. This requires a shift in skills from a transactional sales approach to a truly consultative sales approach. It also requires a fresh look at the best way marketing and sales teams can work together to serve the customer.
By focusing your sales team on customer pain points and
providing innovative solutions that deliver cost savings,
productivity and safety compliance, you will give your organization
a distinct advantage and the customer will see much better value,
resulting in higher retention rates.
By focusing your sales team on customer pain points and providing innovative solutions that deliver cost savings, productivity and safety compliance, you will give your organization a distinct advantage and the customer will see much better value, resulting in higher retention rates.
1 https://www.gartner.com/smarterwithgartner/future-of-sales-2025-why-b2b-sales-needs-a-digital-first-approach/
2 https://www.challengerinc.com/customer-buying-behavior/
3 https://www.prnewswire.com/news-releases/bizo-extends-marketing-automation-with-online-display--social-ads-229078301.html
4 https://www.challengerinc.com/customer-buying-behavior/
5 https://www.infoteam-consulting.com/blog/the-most-important-phase-of-a-sale-is-implementation