Selling has always been toughest of all professions.
Selling to B2B customers is much more harder…
And now, the days when a salesperson used to be on the driver's seat of the buying process, are over.
B2B sales has changed dramatically in recent years and sales strategies that were effective few years ago, won't work.
The buying process B2B Buyer2.0 goes through today:
An organization is facing a business problem, or planning a new business growth initiative.
Key people are given responsibility to find out multiple approaches and solutions.
They go online, search about potential solutions and the vendors then,
They refer network for recommendations,
They further visit various social media, forums, online reviews and other online sources and develop certain impressions
They get general understanding of the right prices, post-sales challenges and the strengths/weakness of different vendors
Finally they freeze on top two or three solutions and vendors
Almost 70% of the buying process is completed, without calling the company or salesperson.
So, instead of the predictable nature that sales used to be, it’s highly messed up, at least at the surface level.
Selling in today’s market is tough. When your potential customers are more knowledgeable than you, when your competitors are able to provide better prices, when you are fighting battle against every possible odds, then you have no choice but to approach your prospects, customers and market differently.
High-performing businesses with professional sales culture, and competent teams are doing something that the Internet cannot do.
Remember, whopping 92% of the sales revenue comes from top 8% of the high performance sales professionals & teams.
The core skills they focus on are : Self-Management, Communication Skills, Relationship Management, Industry & Solution Expertise, Social Media Skills, Ecosystem of Influence & Data Analytics Capabilities.
So, if you are in high value sales, your role may not go redundant, but a complete transformation in the approach is desired if you dream to continue get entertained by your current and future customers, and expect business.
COREM offers various products around the core critical skills, valid for beginners to experienced sales professionals, leaders and entrepreneurs.
With the advent of AI, Big Data, Chatbots, Blockchain, Analytics and so many other automation tools, its high time to upgrade your approach towards yourself and the market to succeed in taking your business to the next level of extreme growth.
Fortunately for your organization, sales team are data-driven. Sales activities are measurable, and more often the challenge is always knowing what to and what not to track. You have been using CRM for years, and that has become more of reporting and activities tool then an intelligent tool to assist. Good news is that you have more data, may or may not be in the best clean form. But bigger question is how do you use this data to have better predictability and more control over your sales performance?
It's time to get an edge and empower your sales team with best strategic moves. Sales analytics is the practice of generating insights from sales data, trends, and metrics to set targets and forecast future sales performance. It can help to closely tie various arms of sales and marketing team, their activities to define focus areas, corrective actions, revenue outcomes and for guiding your sales team.
Sales metrics or KPIs driven activities help increase performance of your team, optimize sales activities, and drive accountability culture. Such sales analytics strategy provides your team with focus and clarity so they are investing their time on productive activities, resulting in revenue & profitability.