B2B Sales and the Herd Mentality: Are You Following or Leading?
B2B Sales is more challenging than ever. Are you following the old herd or leading the new pack?
Customers’ buying habits are changing. The fast pace of technology only accelerates this change with an overwhelming amount of messages and shifting priorities clamoring for people’s undivided attention.
There’s also an intergenerational shift in the workforce as boomers retire and millennials take over which creates a multitude of buyers with different needs. Every one of those individual buyers demands specific valuable insights; something they don’t know, for improved performance from sales teams.
Research from Gartner/CEB states in the shifting B2B executive landscape, alignment of critical stakeholders before any major purchase is highly important. So more people hop on the buying cycle and key people-not as far along in their Buyer’s Journey because of shifting priorities-come in late. Multiple buyers like this in the process result in delays due to repeated activities, frustrating sales teams. Drawn out sales cycles negatively affect everyone involved in your sales campaigns, sales, presales, services and your executives, sapping productivity.
Our research shows the sales teams who struggle the most with the Buyer 2.0 exhibit these “old behaviors”:
- They don’t understand and connect with customers personally: People want human connection as well as business results. 90% of all purchasing decisions are made subconsciously(crowdspring) so having the ability to emotionally connect with people in their harried world is more important than ever
- They don’t understand the customer’s business problems deep enough to provide insight: Because “customers are coming into the sale armed with better product knowledge than ever before. The average customer is more than halfway through the decision-making process by the time they talk with a sales rep, according to some estimates,” (Agile CRM) oftentimes they don’t have the time or energy to provide the finer points of their business problems. But without understanding the business problem it’s hard to offer insights and differentiation, so talk turns to a well-known subject: the product.
- They rush to demo features and functions: It’s not unusual. According to Gartner, 73% Sales reps focus too much on product. We observe that many sales teams rush to demo the features of the product because this is their wheelhouse, but jumping right to knowledge of the product will not cause them to win the deal. If anything, rushing to demo without digging in deep to the problems elongate the sales cycle, confuses the customer, halts progress, and many times causes you to miss the opportunity for understanding. But we all train on, know, and love our product.
Which behaviors are you most guilty of? Are you or sales and marketing guilty of using the same old process and methodology or are you adapting to the new buyer? Quickly adapting to align with shifting customer wants and needs is imperative. How will you leave the herd mentality, set yourself apart, and lead the pack?