December 10, 2021
Did you know that closing ratios for deals using traditional selling methods (such as cold calls and direct mail) have not changed since the 1980s? seriously. They haven’t budged at all since “Eye of the Tiger” was a hit on the radio. However, there are still salespeople and team leaders today – four decades later – who still stubbornly focus on this completely outdated way of looking at sales.
In a sense, they act like they’re a 1982 Sears catalog: sitting on a lonely shelf, quietly waiting for their customers to come to them and place an order. Then, when silence becomes too much for them, they double up! They make cold calls and send flamboyant letters (sometimes even by postal mail). And then they act surprised when they don’t get the response rate they were hoping for.
You’re sure to get a funny look today if you go out in generic clothes like it was 1982. It’s no different if you still sell that way. It’s time to ditch the new wave hair, tight laces, and big shoulder pads. Stop selling like 1982.
All the top ranked sellers in the market know this. They have already fundamentally changed the way they think about their customers so that they can navigate an equally radically shifting market: a market where about 4.7 billion people are now online and e-commerce orders about a quarter of all sales.
We are all used to living in the buy-from-the-market market. now it sell in the market. Here’s what you need to do to make sure you and your sales team are fully aligned with the way things are going now… and not stuck in the way things used to be.
Accept that the seller is not“t’s in a hurry anymore.
One of the biggest overlooked facts about the rise of Amazon and Shopify over the past decade is that they haven’t replaced traditional stores like Sears. They also made a lot of salespeople obsolete! Market research confirms this: today’s buyer no longer needs a salesperson to start the buying process. this is Amazon From the market means today’s buyers are doing more than just Acceptance Vendor-Free Experience: They Actually Are Help yourself It… and look for it. In a recent conversation with Gartner’s Brent Adamson, he revealed that 43% of all buyers now want a seller-free sales experience – a preference that jumps to 54% for millennials. This shift is not only fueled by the rise of next-generation buyers. It has been accelerated by the global pandemic. We expect it to continue. As Gartner concluded in a related study: “By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.”
Meet needs and build trusted relationships.
More than ever, your buyer today is equipped with a massive amount of information up front about what you’re selling. They don’t need you to collect facts anymore. They need you to help them make smart, informed decisions. This can only happen if they trust you first. Now everything depends on needs and value. Therefore, you should focus on creating and nurturing meaningful personal relationships with those you do business with. If your buyer doesn’t feel like there’s a meaningful relationship with you, that business relationship will be as short-lived as a great pop song playing on a 1980s radio station.
Determine the value you get: This is your job.
Just as your customer determines the changing needs that you must meet, your job as a seller is to properly define the value you bring to this business relationship. As I talked recently, your task is to turn all intangible assets into tangible ROI. Do this by asking survey questions that help you better understand your client’s business, including the value of money and time saved in their business operations.
Meet your customer on their terms.
Even after you rethink and reorganize your relationship with your customer based on needs and value, your business doesn’t just stop there. You must also provide your customer with the purchase options he wants on the terms that suit him. Since 2020, everyone has made a sudden (and sometimes difficult) transformation of doing business online. But this has gone from being a necessity to becoming a convenient method. As a Duarte consultant reminded me during a sales kick-off presentation earlier this year: Up to 25% of your customer’s valuable time (and your time) is saved now…just by switching from face-to-face to virtual meetings. All without eroding a single iota of the quality of that hard-earned relationship. Why will Not seize this opportunity?
As is the nature of change, today’s market transformation has occurred gradually and then suddenly. The global pandemic has not started this transformation. its acceleration. Big changes have been in full swing for a long time. That’s why you should embrace all of this change rather than fight it. You can expand your reach and boost your bottom line better and faster than before. You can learn from the best sellers out there. And apply it quickly. and measure results.
Do it right and do it now. you’ll see it This is the best time ever in sales.
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