How Sales Teams Can Win More Deals
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Transcript of How Sales Teams Can Win More Deals
How Sales Teams Can Win More Deals
© Primary Intelligence, Inc. 2015
Connie SchlosbergDigital Marketing SpecialistPrimary Intelligence
Housekeeping• This session will be available on our
website
• All phone lines are muted
• Please ask questions using the Chat function
• #BuyerNeeds
Carolyn GalvinDirector of Industry InsightsPrimary Intelligence
John HollandCoauthor and CofounderCustomerCentric Selling®
Today’s Speakers
Today’s Agenda• Background• Importance of Understanding
Buyer Needs• Deep dives
1. Organization Size2. Decision Date3. Cultural Differences
• Q&A
Ken AllredPrimary Intelligence CEO & Founder
We analyze more than 3,000 deals and customer engagements annually
We evaluate more than $20 billion worth of purchase decisions annually
We manage 568 win loss and customer experience programs
We support more than 6,000 sales, marketing, product, CI & CX leaders globally
We work with 6 of the Fortune 20
Primary Intelligence
• Founded in 2002• Worldwide network of Business Partners• CCS® and Rethinking The Sales Cycle books published by M-H• Training Industry's list of Top Sales Training Companies every year
since 2009• Nearly 1,000 clients• Sales ready messaging® helps sellers have better conversations
with executives about business issues• A focus on product usage to empower buyers• Goal: Identify and share best practices to drive higher revenue and
improve sales forecast accuracy
CustomerCentric Selling®
Importance of
Understanding Buyer
Needs
Understanding Buyer Needs is #1
Concern Resolution
Presentation & Demonstration
Professionalism
Facilitating Ease of Purchase
Knowledge of your Industry
Product Knowledge
Relationship with Sales
Responsiveness
Understanding your Business Needs
0% 5% 10% 15% 20% 25% 30% 35% 40%
5%
12%
5%
3%
9%
15%
5%
13%
35%
Deep Dives
Organization Size
Research Findings
1-50 51-500 501-1K 1K-5K 5K-10K 10K-100K 100K+0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
4% 7% 8% 8% 11% 11% 7%7%13%
20%15% 17% 20%
29%
89%80%
72%77%
72% 69%64%
Understanding needs (0-6 Rating) Understanding needs (7-8 Rating)Understanding needs (9-10 Rating) n = 6,314
“Excellent” ratings decrease as organization size increases
“Average” ratings increase as organization size increases
Strategies for Selling into Different Organization Sizes
• 8.5% of sellers are “world class” • 13% of sellers generate 87% of revenues • “A Players” are easier for small companies to attract • As companies grow, under more pressure to codify way
they sell• When selling to large organizations, buying committees likely
bigger• People within committees have different agendas, posing
challenges to sellers (more difficult for sellers to be relevant to different stakeholders)
• Small percentage of sellers can provide enterprise-wide views of the value (costs vs. benefit) of their offerings
Decision Date
Research Findings
2008 2009 2010 2011 2012 2013 2014 20150%
10%
20%
30%
40%
50%
60%
17%20% 19% 18% 19% 19% 20% 21%
48%
40%37% 36% 35%
38% 38% 37%35%40%
44% 46% 45% 44% 42% 42%
Understanding needs (0-6 Rating) Understanding needs (7-8 Rating)Understanding needs (9-10 Rating) n = 10,584
“Excellent” and “average” ratings have reversed over time
Strategies for Selling to Buyers Over the Long Term
• Most sellers execute sales cycles starting with lower levels• Mid- to low-level buyers’ use Internet, social networking have
increased that trendo Knowledgeable buyers find sellers to be less helpful/competento 70% of buying activities are complete before sellers are involvedo “Parallel vs. serial” evaluations of offerings
• Ever-increasing reliance upon reactive “leads”• Proactive contact of key player levels allows:
• Targeting the right profile companies• Earlier qualification and disqualification• Top down rather than bottom up selling
Cultural Differences
Research Findings
Sales teams in North and Latin America had the highest percentages of “excellent” ratings
North America EMEA APAC LatAm0%
10%
20%
30%
40%
50%
60%
19%23%
50%
22%
37%
48%
34% 36%
44%
29%
16%
42%
Understanding needs (0-6 Rating) Understanding needs (7-8 Rating)n = 10,584
Strategies for Selling to Buyers in Different Cultures
• “Results” are the international language of business• Many non-US cultures are hierarchical, making access to
higher-level officials difficult• Leverage vendor executives to get access to higher levels and do
provocative selling regarding business variables that can be improved
• Rapport-building is different• Pace is often slower than in United States/North America• Continue to focus on need development, a universal
strategy once business goals/problems are shared
Conclusions & Recommendations• Recognize significance of
“understanding buyer needs”• Strategize when selling to large
organizations • Target key players in all new and
renewing sales opportunities • Fully understand the culture of firms
you’re selling to
Questions?
MORE INFORMATION
• Understanding Buyer Needs Reporthttp://bit.ly/1QJMUiQ
• Understanding Buyer Needs Infographichttp://bit.ly/1Wj1iT0
• Understanding Buyer Needs Videohttp://bit.ly/1L6yLhJ
• Industry Insights at Primary Intelligencehttp://bit.ly/1QG2uLB
• Primary Intelligencehttp://www.primary-intel.com/
• CustomerCentric Selling® Bloghttp://blog.customercentric.com/blog
• CustomerCentric Selling® Workshopshttp://www.customercentric.com/workshops
• CustomerCentric Selling® Coachinghttp://www.customercentric.com/coaching
• CustomerCentric Selling® Bookshttp://www.customercentric.com/thought-leadership
• CustomerCentric Selling®http://www.customercentric.com
Connect with us!linkedin.com/company/primary-intelligence
@PrimaryIntel primary-intel.com/blog
linkedin.com/company/customercentric-selling
@Official_CCS blog.customercentric.com/blog
Thank you!