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| Marketing: Savvy Sales |
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| Written by Sam Reese |
| Tuesday, 31 March 2009 23:00 |
 In an economy where each dollar is spent with a close eye on the potential for return, it is vital for those in sales to differentiate themselves, not by the products and services they offer, but by the value they create for customers. In the 2009 Miller Heiman Sales Best Practices Study, less than half (47%) of respondents agreed that their salespeople have a solid understanding of their customer’s business needs. In contrast, 85% of world-class sales organizations (those that consistently saw higher results than their peers) agreed with this statement. Before your sales team is able to provide value, it’s imperative that it understands what is valuable to the customer and why. This may seem intuitive, but it’s often overlooked. When salespeople become immersed in their product, they have a tendency to begin rattling off features and benefits before they understand what their customer is looking to accomplish. Don’t jump the gun Salespeople often assume that every person who influences a sale is after the same outcome. In fact, in our research, only 32% of respondents agreed that “in each deal, the issues of key individuals (in prospect firms) are always systematically identified.” This is a huge miss. Make sure your salespeople are focused on creating value for each influential person in the buying organization, not just their primary contact. For example, consider a CEO whose business concerns are typically at a high level. He or she may be looking at top-line growth, but the manager influencing the sale may be more concerned with pleasing a specific strategic customer. Although the solution to both of their concerns may look the same, knowing the win for each individual will help the salesperson better articulate a desired outcome for the customer. Sales is a high-pressure business. Sales teams are constantly tasked with ambitious sales goals and stringent timelines. In a profession this competitive, salespeople are known to jump the gun. In our research, a mere 50% of respondents said they understand their customers’ issues before proposing a solution. Compare this with world-class sales organizations where 93% said they follow this protocol. It is critical that salespeople only propose solutions when they have a complete understanding of customer issues. Anything sooner puts them at risk of making unwarranted assumptions and, as a result, losing the sale. Articulate results In our research, 69% of respondents agreed that they know why their customers buy from them. Another way to create value for your customers is to learn why your current customers chose to buy from your organization and why they keep coming back. Although each customer may be after a different win, chances are that different customers are coming to you for similar reasons. If you understand these reasons, you will be in a better position to adequately serve current and new customers. Understanding this also puts your salespeople in a better position to answer the questions that will likely come up in conversations with new prospects. What key results have your customers experienced? How has your company’s solution impacted top-line growth? What wins did your decisionmaker experience from going with your solution? Knowing the answers to these questions will put your salespeople in a better position when tasked to articulate the results they should expect when choosing your solution. Go beyond the close A common mistake salespeople make is believing that their job is done when the order is signed. This is never the case. In our annual study, only 59% of respondents agreed they stay connected with customers through the fulfillment process—a grand opportunity. Make sure your salespeople are staying with your customer beyond the close. This puts your organization in a better position to address issues before they become large and ensure a positive customer experience. Additionally, this practice makes it much easier for salespeople to uncover additional opportunities that may not have come out in the sales process. In the end, the most important thing to remember is that sales organizations cannot create value on their own. Value is exclusively determined by the customer and can change, not only with each customer, but with each customer interaction. As long as the customer is at the center of every action your sales team takes, you’ll be in a strong position to power through turbulent times. Sam Reese has led Miller Heiman to its position as the foremost thought leader and innovator in the strategy, process, and training that drives sales performance. Since he joined the company in 2000, Sam has grown its revenue by more than 150%, expanded product offerings and e-learning initiatives, and amassed a partner network of world-class sales consultants. Learn more at www.millerheiman.com. |