Want to excel in sales in 2017? Research shows that you’ll need to focus on offering value if you hope to meet your goals. The Smart Selling Tools blog recently reported on research from Peter Ostrow, of the research advisory firm SiriusDecisions. Through his research, Ostrow found that the buyer journey is much more complex than in the past, and sellers must adapt. He shares three findings that can help sellers prepare for, and excel in, 2017. Below are two of his insights:
#1: Buyer journeys are tougher to facilitate.
Ostrow found that 43% of sales opportunities now have five or more stakeholders involved in each purchase decision. Additionally, 76% have at least two departments involved. That’s a lot of people to work with (and please). It may be impossible to meet with every person involved — and demonstrate relative value to each. So, reps must find champions/mobilizers within the company who can promote value on the reps’ part. By collaborating with a champion, you “can clearly and confidently convey the unique value of your proposed solution internally– the key between a solid win, or disappointing loss.”
#2 It’s not about price.
Can you believe that only 9% of buyers in Oslow’s study rated “price” as the key deciding factor in their buying decision? Yes, price does play a role in a buyer’s decision, but it’s not the most important factor. Instead of emphasizing a low price or promotion, instead “care more about the unique business value and ROI you can deliver, and a smooth / better buying experience…”.
Only 41% of sales reps meet their sales quota, and Oslow believes this is because they fail to promote value. To shine in 2017, shift your focus from pricing, discounts, and features to engaging in conversations about ultimate value. As the article states, “In order to make sales quota, sales reps must be empowered to easily assess, articulate and quantify your unique value to each unique prospect.”