
Ask a sales expert how many stakeholders are involved in the average B2B purchase and they will answer: “too many”. It’s true, according to Forbes. “B2B technology purchases often involve 6 to 10 stakeholders, ranging from IT and finance, to operations and executive leadership”.
Additionally, the line between B2B and B2C experiences is distorted in the buyer’s mind. Forbes notes, “The ease of purchasing from Amazon, the personalization of Netflix and the on-demand service of Uber have reshaped expectations.” Therefore, the conscientious B2B sales expert is obliged to meet their buyer’s expectations of speed, personalization and trust.
Sales Experts Understand Evolving Buyer Behavior
Today’s buyers, impacted by the pandemic and advances in automation technology, allocate more time to research and pursuing transparency. Further, they demand online reviews and may purposely restrict communication to only those sellers vetted by their peers. Nevertheless, this transformation significantly impacts the lead conversion process and makes your job more difficult.
Buyers are more self-sufficient
Digital tools are reshaping the conversion process. For example, your prospects now complete 70% of the buying process before reaching out, says pipeline-360.
Young decision-makers
Millennial and Generation Z buyers now hold the most decision-making roles favoring digital-first and marketplace-driven experiences. Further, Millennials represent about 73% of B2B buyers and 44% of final decision-makers, according to LinkedIn.
Virtual or remote interactions
During the pandemic, remote B2B buyer–seller contacts spiked. Today, they continue with digital channels expected to account for 80% of B2B buyer-seller interactions in this year (Gartner).
Face it. B2B Buyers are Firmly in Control
It doesn’t take a sales expert to understand that a well-informed prospect with thorough product knowledge has the upper hand. Plus, online purchasing has become predictable, safe and secure — even without a vendor’s account rep.
Now, consider the familiarity of virtual meetings and remote contacts which minimize interpersonal connections and the ability to build relationships.
Seriously?! This begs the question: “What is the responsibility of the B2B sales expert?”
“As informed buyers increasingly set the agenda, a new selling paradigm is emerging,” says Murali Mantrala, professor of marketing at the University of Kansas.
The Emergence of Holistic Selling
Holistic selling is the orchestration of ALL buyer-seller touchpoints. Holistic selling is the arranging of all effective communications in every channel through every department where your product touches your customer.
Evolving from personal selling and relational selling
A holistic seller embraces the buyer’s competence and supports their buyer-led purchase journey. In other words, the holistic seller becomes an assistant, mentor, friend, and confidant. Creative ideas, solutions, efficiency, economy, and success become the seller’s responsibility and focus.
Not just a seller. An account owner!
Assuming the role of account owner takes a holistic seller beyond merely closing the deal. Wisely, sales experts recognize taking responsibility for EVERYTHING – the pre-purchase, purchase and post-purchase stages of the deal builds trust, credibility and loyalty.
Dual agency for supplier and buyer
Acting as orchestrators, holistic sellers embrace initiatives between the buyer and any third-party actor within the buyer’s ecosystem. Often, these sales experts are viewed as partners by going ‘above and beyond’ in service to the client company.
Convert More Sales with Holistic Selling
Conveniently, sales experts can learn about holistic selling from the American Marketing Association’s Sage Journals. Here, you'll learn about additional orchestration dimensions:
Networking and customized intelligence
Complex products require handholding. Therefore, sellers can further trust and relationships by providing internal product research or assistance with translations.
Interlocking touchpoints along the buying journey
Salespeople must simplify the processes between customer and supplier to increase the value of interactions. For example, salespeople must understand what form of personal interaction is needed to effectively balance digital touchpoints.
Seamless handling of customer interactions
The myriad of omnichannel customer contacts and touchpoints is why orchestration is imperative. Subsequently, all interactions originate with and converge back to the salesperson as the central node in the buying journey.
Photo by Samantha Garrote on Pexels.com.
