To Win Against Increasing Competition, Equip Your Salespeople With A Deeper understanding Of Your Buyers

Mark Lindwall

Last week I spoke with the VP of Sales for a tech company that used to have the hottest product in his market.  In housing terms, they used to be an exclusive and much sought after neighborhood, but now the competition has moved in on all sides and sales are down.  His sales force is facing a vastly growing number of competitors. Some are much larger and have broader portfolios that give them better presence in customer accounts. They’re getting squeezed and are finding it harder to compete in deals where they used to be the only solution.

Your only true differentiation comes from how your reps interact with your buyers

What’s interesting is that the vendor mentioned above is still experiencing consistent success when his company’s salespeople gain access to executive buyers early in their decision process and work in a consultative manner with those buyers to shape a vision of a solution.  When that happens, salespeople are confident discussing the business issues faced by those buyers.  They’ve found certain industries that they know well where they are able to do this consistently.  They are not getting squeezed by competitors and they are winning. But often, they're chasing deals that competitors started and reps are drawn into an RFP frenzy that chews up time and resources.  After all, they used to win these deals, but now they're pretty demoralized and reps are starting to leave.  

It's all about empathy for buyers

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How To Hire And Onboard Customer-Centric Employees

Sam Stern
In my new report, "How To Hire And Onboard Customer-Centric Employees," I describe how companies can transform their hiring processes to ensure new employees are customer-centric. CX professionals must partner with their HR department and hiring manager colleagues to change the way they screen, interview and onboard new employees. The report describes specific ways to make each step in the hiring process more customer-centric. For example:
  • Get customer-centric applicants into the hiring funnel. A customer-centric hiring process starts by attracting the right kind of applicants and filtering out the wrong kind. The careers section of a website provides an opportunity for companies to tell applicants what they value in employees. For example, The Container Store's website describes the company's commitment to putting employees first and draws a clear distinction from other companies that focus on shareholders first. Contrast that first impression with the careers landing page on Bed Bath & Beyond's site, where the opening sentence talks about stock performance and its expansion.
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What Do Reps Believe Makes A Meeting Successful?

Mark Lindwall

Do salespeople in different roles (e.g., strategic accounts, geographic, inside sales) and with different levels of experience have different perspectives on selling? Not significantly, according to our Q1 2012 North American Technology Seller Insight Online Survey.

Our recently published report “What Do Reps Believe Makes A Meeting Successful?” illuminates how similar the perspectives of sellers in different roles and with different levels of experience really are. If your company has one kind of sales role and one very consistent type of buyer, and they are well aligned, then this data may not much matter to you. But if you have different roles and types of buyer, then it’s worth examining the data in this report.

We found that three-fourths of salespeople agree that the most important aspect of a successful meeting with prospective buyers is their ability to understand the buyers’ business issues and share a way to solve them. The thing is, Forrester’s Q4 2012 Global Executive Buyer Insight Online Survey data, and interviews with executive buyers, clearly illuminate that the majority of buyers believe that salespeople are not successful in meetings with them. 

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Where Have All The Good Times Gone? The party is dying out for companies whose salespeople lack empathy for executive buyers

Mark Lindwall

In his recent report, Competitive Strategy In The Age Of The Customer, Forrester’s David Cooperstein notes that in regard to successful business strategy:

It's no longer sufficient to say that you are simply ‘customer-centric" or "customer-focused.’ The only successful strategy in the age of the customer is to become customer-obsessed — to focus your strategic decisions first and foremost on how your customers expect you to engage them.

Through our ongoing conversations with executive buyers, professionals in sales enablement, and through survey responses from hundreds of global executive buyers, Forrester’s Sales Enablement practice has discovered a massive gap between buyers’ expectations of salespeople and what they’re actually experiencing when they meet with reps. In fact, less than 40% of executive buyers say that meetings with salespeople meet their expectations (see figure 1).  Further, only one in three IT executives said that sales meetings "usually" live up to expectations, and just over two of five business executives said that sales meetings hit that mark (see Norbert Kriebel’s report: Executive Buyer Expectations — The Bar Is Low).

 

Do meetings with salespeople meet executive buyer expectations?

Considering that perhaps 25% or less of the typical sales force is even capable of gaining access to executive buyers, consider the cost when these meetings miss buyer expectations and result in no further opportunity.

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