In today’s environment, when buyers are inundated with thousands of offers, it can come as no surprise that buyers are reluctant to meet with potential sellers. One of the main reasons for their caution is that many salespeople fail to adequately research the buyer’s position and needs. With the right approach and with the help of sales analytics software, you can differentiate yourself from the pack. Here are three traps to watch out for—and three ways to defeat them.
1. Sellers know their own business—but not the buyer’s
It should come as no surprise that most salespeople are knowledgeable about their own product. Unfortunately, salespeople are often less up-to-date about their buyer’s company. It is difficult to expect a buyer to take a leap of faith when the salesperson cannot answer their questions and attend to their particular concerns. An extra hour of research can make all the difference between a letdown and a big sale. Using sales analytics software, you will be able to improve your sales process by gaining knowledge on each individual customer. Don’t get caught off guard. Know your buyer’s company like the back of your hand.
2. Sellers know the buyer’s business—but not the buyer’s industry
Even if the salesperson researches every nook and cranny of the buyer’s company, it will not matter if they remain ignorant about the buyer’s industry. Just as to study an animal you must know its surrounding environment, knowing the buyer’s economic ecosystem is as essential as knowing their bottom line. The best salespeople understand that no company is an island in and of itself—and they can articulate their expertise to the buyer in a clear, direct and powerful manner.
3. Sellers know the buyer’s business and industry—but they lack relevant examples
When governments decide to reform their tax codes, they look to case studies from around the globe. When companies look to increase efficiency, they seek out successful examples from around the business world. Similarly, when buyers look to buy a product, they want examples and case studies that will convince them they are making the right choice. A set of strong example can push buyers over the edge. Not only should you know the buyer’s company and industry, but you should be able to illustrate how your product has helped other companies—and how it will help his.
Effective salespeople know what buyers want and how to satisfy their needs. Sales analytics software will help to measure the success of our endeavors and learn a great deal about the process. When your sales team has the ability to present solutions of the highest relevance, they will naturally be able to convert more sales. It’s not magic. At the end of the day, preparation is persuasion.
