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Sell insights, not just products with customer intelligence

Mar 2014/in /by

Understanding your customer more deeply can lead to an increase in sales. In this data-driven world, the relationship between sales rep and prospect is different than it used to be. In the past, salespeople sold solutions to problems; they now sell insights, according to Mark Bergen of Vision Critical, an insight community technology provider.

With all of the information that is available to prospects today, they have little use for the same old solutions. They are also more likely to know right off the bat whether your services will work for them. Since they arrive into the sales funnel with more knowledge, the entire sales process is being turned on its head. When a sales rep can give them assistance on top of what they already know, this individual has an opportunity to become not just a sales person, but a colleague.

In this new landscape, the most powerful sales strategy is having insight into your customers market that no one else has. Once you have this information, you won’t just be selling clients a solution to a pain point, but valuable knowledge they can only get from you.

How to understand your customer’s end market There are several options, but one thing is clear: a simple Google search doesn’t cut it anymore. Knowing your customer’s market requires in-depth research, from scouring social media platforms to reading industry publications. It can be a time-consuming activity. That’s why the best option is to invest in a customer intelligence platform that will deliver personalized information about customers’ markets. The right solution will allow you to tune out the noise and focus just on relevant events and big data analytics.

Here are just two examples of what you can accomplish when you know your end-customer:

1. Sell your prospect an outcome Don’t work in the dark. Use key insights to determine what your client really needs, beyond how you believe your product can help them. According to Anthony Iannarino for Salesforce blog, you need to focus on the final outcome instead. By honing in on their market, you can develop a better understanding of what the customer is looking for. Successful salespeople pitch the future outcome that the client is looking for. However, depending on where the client is at in the buying process, they may not be aware of their desired outcome. As a valuable asset to your prospect, this is an idea you can help them develop. Iannarino also provides another valuable piece of advice: a sale will only happen if stakeholders are in agreement on the desired outcome. Using the market intelligence you’ve gleaned, you can help guide the decision-makers into a consensus on what direction operations could go.

2. See needs before your customers do According to Bergen, by monitoring your customer’s market very closely, you can often identify problems they don’t know they have. Bergen notes how his company, which provides software that facilitates communication between customers and businesses, found a solution for sports teams whose end-customer was sports fans. After doing some research, his firm determined that sports teams don’t offer the engagement tools that sports fans want. For instance, sports teams weren’t always reaching out on digital platforms. In addition, digital platforms enabling fans to branch out from just supporting local teams. This knowledge helped Bergen’s company pitch their product to sports teams.

When you are well-versed in all the elements that make your customer’s market tick, you have opportunities to provide valuable insight in addition to products and services. The role of the sales person is changing. Do you have the tools you need to be a 21st century sales rep?

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Use Sales Insights to Send Emails Prospects Actually Read

Mar 2014/in /by

Much of the time, your first contact with a prospect will be through email. However, sending out shoddy messages that appear mass-produced and untailored to the specific business can wreak havoc on your sales productivity. You have to treat each email like it’s a conversation, because that’s how your prospect will be thinking about it. Sending out a generic template just won’t cut it.

For instance, a typical email may tout the company, talk about your services and end with a call-to-action. This could literally be sent out to anyone, and probably is. Instead, you need to do a better job of targeting it.

Sympathize With Your Prospect

In Inc., sales expert Geoffrey James notes that if you think about how your emails look from the customer’s perspective, it may start to make more sense as to why leads aren’t biting. Most likely, they’re asking, “what does this have to do with me?” They may be wondering why you are reaching out to them at all, and they may even be truly annoyed that you wasted their time with spam. In each case, you’ve all but lost your prospect before you’ve begun.

Prioritize Customer Research 

It may seem like a no-brainer, but you need to do some work figuring out who your prospect is before shooting off an email. Once again, a cursory look at their homepage probably won’t be enough. You want is to exceed their expectations, not barely meet them—so you need to dig deeper. Customer intelligence analytics allow you to not only see what your customer has been doing, but what’s going on in their marketplace.

How to Use Sales Insights to Write Messages

Generally, prospects are more likely to respond when a message is relevant to their interests. This means it’s best to contact someone who has been looking around your site. You should not only mention their presence on your page, but exactly what they looked at. However, intelligence gives you the details that can make a cold email work. For instance, it enables you to see trigger events that create new product needs. According to HubSpot, events like this can be an excellent way to open an email.

Now that you have a better idea of their industry, and what it takes to excel in this environment, you will have a much easier time getting into the client’s perspective and understanding what will compel them to respond to your email. Keep things simple. James suggests that you give examples, not just of businesses you’ve worked with, but what you’ve done for them. Even better, align this small pitch to their specific market niche.

Another tip HubSpot offers is that with the first email, you’re really looking for a response, not a sale. Try to establish yourself as a trustworthy source who cares about the outcome of their company rather than going after the pitch right away.

Other suggestions:

  • Start by saying something about them, not yourself. This will grab their attention. Now would be a good time to mention that big market event you learned about.
  • Leverage personal connections if you have them. These should also go near the top of your email. If a mutual colleague suggested you get in touch, absolutely mention this.
  • Keep it short. Prospects are busy people, and the best of us can be overwhelmed by an unbroken wall of text. Make it digestible, clear and direct.

When you take the time to understand your customers, you can write messages that they really respond to.

Time is money

3 Ways to Improve Sales Productivity

Mar 2014/in /by

Even the best sales people need some tips now and then. When it comes down to it, the problem could simply be one of time management—your reps may be spending too much time chasing down leads that will never convert. The sales funnel shouldn’t be a black hole; make sure salespeople know when to persevere and when to surrender in order to improve sales productivity.

1. Do More with Less

According to Geoffrey James for Salesforce blog, you may need to refocus your time to increase sales. While it may seem counterintuitive, sometimes you need to reduce the number of opportunities you go after in order to increase sales. The problem with chasing too many leads is that you may not be giving each one the time they deserve. Instead, choose the most qualified leads and prepare sufficiently for each pitch.

2. Know Your Customer

This point goes along with the first one. Going after the right leads means doing significant prep work. Utilizing sales intelligence and good, old-fashioned customer research are the best resources. Make sure you are having a sales conversation based on the needs of your potential client, suggests Selling Power. To be able to pitch a meaningful solution, you have to understand what drives their market. In the same regard, if you’ve done the research and it doesn’t seem like your product is the right fit for them, odds are the company’s buyers will come to the same conclusion. It will be more beneficial to focus your efforts elsewhere.

3. Work on Your Pitch

Once you’ve improved your time management and started focusing in on the sales you can actually make, it’s time to work on the most basic part of your strategy: the pitch. If you’re not effectively closing sales, the culprit could be the pitch itself. The problem could be that your pitch is too much of a hard sell, and not enough like a conversation. According to sales training group Fearless Selling, a canned pitch can really turn off your prospects. Once again, you need to respect your potential clients as individuals with specific needs—remember to pitch your solution to their pain points, not your product. Your product won’t work the same way for everyone, and neither will your pitch. Try ditching your notes and having a real talk instead of giving a presentation.

When you really think about how you’re working and try to perfect each element, the results can be surprising.

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