Business Bedrock

Morbid 2014 B2B sales predictions

No doubt this is the time of year where we are inundated with predictions for what will happen in the coming 12 months

Depressingly, it's not difficult to predict what WON'T change when it comes to B2B sales practices.

A morbid post - although if we can all agree on what's wrong, at least that gives us an agenda of what to fix up!

Here's my list - let me know yours and then we're going to write all the contributed predictions up into a whitepaper for next week's newsletter (with full credits of course):

1. Late engagement - most B2B salespeople will wait until the customer knows what they want to buy before they engage - or even worse until the customer contacts them.  This increases competition, lowers margins, and reduces win rates.  Engage with the customer early - before they know what they want - in fact give them an insight that actually STARTS them on their buying journey (and then walk with them on their journey).  Review our notes on "sales triggers" to understand what starts buyers on new buying journeys.
2. Selling products, not outcomes - noone needs a sales person who is just a "talking brochure".  Real value for customers from sales people comes from their ability to "build the bridge" between the products they sell, and the business value these products/services can create for each individual customer.
3. Show up and throw up - research indicates that, on average, on early stage sales calls a sales person talks around 80% of the time.  This is inversely proportion to what should be happening.  Active listening, questioning - these are the critical early stage stage skills.  2 ears, 1 mouth - let's use them in that order.  Customers are impressed by your knowledge of THEM - not of your company and/or your products.
4. Sales and Marketing silos - IDC research indicates that B2B sales teams reject up to 90% of what Marketing comes up with.  Sales and Marketing need to walk arm in arm with the buyer along their buyer's journey.  Focus on the buyer and what they need at each stage of their journey - much will be solved.
5. Asking customers what keeps them up at night - this solution selling approach has been terrific, but now every sales person is asking the same question.  Modern buyers believe (rightly or wrongly) that they can figure out the solutions to their problems themselves.  What they want is to be educated - the modern sales organisation needs to come up with unique insights to challenge customers' thinking.
6. Relying on relationships - per the last point - customers want to be educated, and they don't need a relationship built to have this happen.  Research indicates that the "relationship builder" is the POOREST performing sales profile - if buyers want a relationship they should buy a dog.
7. Believing customers - the nicer the customer, the higher the likelihood they will "fib" rather than give you the bad news that they don't want to deal with you.  Selling time is precious - the need to qualify is critical - life is too short.

That's my list - and it's just a start.  Do add your thoughts as a comment - or drop me a line, and I'll be happy to add in your thoughts into our next whitepaper.

Also, if you would like to discuss your sales planning for 2014 and think I can offer some insights, don't hestiate to contact me to book in a complimentary 1 hour consultation. 

 

The fundamental tenets of business success......

I have no idea how many blogs there are on different business topics - no doubt quite a few.

What's so special about this one?

Theories and practice around topics such as planning, strategy, marketing and sales are becoming too mechanistic.  It seems that in our quest for excellent business results we're searching for ever more detailed scripts and processes to follow.

Life isn't like that.  Business isn't like that.  Customers don't always follow the script.  Nor do employees.  The environment invariably throws up a double whammy.

Much is written about "culture" - consultants define it as "the glue that binds".  I think we need to borrow on this analogy, and apply it to strategy, marketing and sales.  Rather than a "follow the script" approach, we need to define and adhere to those CORE things that will bring us success.

So that's both the theme and name for this blog - BUSINESS BEDROCK.  Let's define and stick to those core, immutable principles that will bring us success.  That way it doesn't matter if we forget the process - or forget the script.  If we live our business lives by the FUNDAMENTAL TENETS we can focus on living our beliefs and achieving success - uncluttered by having to remember the script.

In strategy, this probably means thinking how we match our core competencies to emerging market opportunities.  It probably also means realising that the real benefit comes from the process of getting everyone together to consider and define the strategy - rather than the details of the strategy itself.

In marketing it means segmenting and then being different within that segment - focusing on customers' needs.

In sales it means identifying problems that prospects have - and then helping them solve them.

I want to build up a list of fundamentals - and share whenever I come across an article that seems to reflect this approach.

What are your "bedrock principles" by which you achieve business success?  Share them through comments - or send me an email.  Together let's build a foundation for business success - irrespective of the specifics of the situation.