You’re Leaking Revenue & Losing Sales - How to Stop and Win Big
This blog will explore proven approaches to helping sales teams win more and bigger deals and how to stop losing sales.
Join us on a journey that can transform your business bottom line.
Articulating value remains one of the most misunderstood but ultimately necessary attributes of business-to-business complex selling.
As technology advances and offerings from companies become more sophisticated, it can be easy for a seller of business products and services to get caught up in the bells and whistles of their offerings and lose sight of their customer’s priorities and perspective. This shortsighted perspective is the first misstep toward a path of lost revenue, lost opportunities, and a stagnant, declining business.
The Changing Landscape
Access to information via the internet has disrupted the traditional relationship between buyers and sellers. A prospective buyer no longer needs to contact a company directly to obtain information about their product offerings. This sounds like the buyers today can simply research and solve their problems.
However, this is not the case. In fact, because buyers have so much access to information they become confused and overwhelmed by an overabundance of information. They lose perspective on how the features and benefits they read about relate to the challenges they face and results they desire. They end up doing nothing - sitting in their status quo - because changing feels too risky. According to Sirius Decisions, 60% of B2B deals end in no decision.
But it’s even worse than that. Nine out of ten initial sales calls don’t result in a second meeting, much less a forecasted deal. So the lost opportunity is enormous.
Simultaneously, competitors are taking advantage of this new egalitarian marketplace to erode your company’s market share. In the absence of a guided consultation process that clearly connects your business offerings to a customer’s strategic advancement, your services are commoditized into a decision based primarily on cost. Only a relationship-driven process designed to fully understand a customer’s needs and align your solutions with their priorities will result in long-lasting, mutually beneficial business engagements.
Value Clarity—A New Way
Designing a value-driven sales process is more than simply listing bullet points of benefits associated with your product offerings. It is a new approach to interacting that empowers both your sales representatives and your clients. It starts with a candid conversation and a care-based intent to help the client win, even if the prospect does not go with the seller… the explicit intent is to help the client win.
Over a series of conversations, sales reps actively listen to the prospective buyer's issues, the results they want to achieve and the challenges/obstacles to achieving those results. The sales rep is then empowered with the information they need to keep your company relevant to the prospect.
The challenge is that for any prospect engagement, there can be many conversations with different buying influences. Salespeople typically have no roadmap for how to go through each step in the sales process, in terms of what to ask and what to share. And there is no synchronization with marketing at all.
By having a dialogue-based, value-driven sales process supported by solid inbound marketing, you enable your sales representatives to set your company apart from the competition.
It comes down to helping salespeople rapidly articulate value so that they can close more deals faster.
To maximize your offering’s value and hence, sales effectiveness, today’s B2B sales reps must know these three core objectives:
- What to say to open meaningful conversations
- How to cultivate and amplify those conversations
- How to strategically move PROSPECT conversations forward toward MUTUALLY BENEFICIAL outcomes
The million dollar question. What is your company doing to capture the potential value that could and should be yours?
We invite you to download our complimentary eBook below and begin the journey that can transform your business.
About our eBook
The Complete Guide to Proven Strategies to Grow Your Business: How to Create a Sales & Marketing Powerhouse
Mistrust and miscommunication between sales and marketing can act like an anchor on your company’s growth rate. In fact, studies show a revenue increase of 20% for good alignment and a decrease of 4% for poor alignment!
This ebook will teach you the science of sales and marketing alignment and show you how to implement the six key elements of the framework.
You’ll discover how to:
- Set up closed-loop reporting
- Define your funnel stages
- Implement a service-level agreement (SLA)
- Track and hold both teams accountable through dashboards & reporting
- Keep the sales and marketing communication flowing
Click here to download the eBook from Intelliversity’s library.
Thanks for reading.
Tom Weinbaum
Founder & CEO
The Weinbaum Group
203-400-1907
TomW@TheWeinbaumGroup.com
www.TheWeinbaumGroup.com