He who cuts his own wood warms himself twice.
Our Outlook
Our Point of View
Transformations in the ways multinational businesses, buyers, and people on the high street make buying decisions have forced a shift in how sellers must present and engage with customers and potential clients. Sales leaders have an array of tools they can use in the fight to stay responsive and fine-tune their tactics. From coverage models, enabling them to set attainable revenue goals, then achieve them with the well thought out placement of sellers in the best and most profitable locations through to revisiting compensation models. Turnkey Solutions Ltd knows nothing comes as close in importance as making sure that sales organisations are fully prepared to keep pace with or be ahead of the times.
Recent Changes in Buyer Behaviour
- Simple, fast and free availability of information
- Ease of options
- Increasing cynicism
- More people Involved
- Finding a path through complication and uncertainty
- Waning customer loyalty
Simple, fast and free availability of information
In this modern technological age, buyers are more knowledgeable, do more research and are more prepared than ever before. The internet provides ample opportunity to research products and services from all over the world, and many are choosing a solution before making contact with a salesperson at all. As a consequence, buyers are armed with extensive information and preconceived opinions of what they think will fulfil their requirements.
Ease of options
As a result of the proliferation of available information, the buyer of today is showered with opinions and choices. There may be many different avenues available to address the particular challenge facing the buyer and identifying the best route can necessitate a new approach by sellers.
Increasing cynicism
Factors such as economic volatility, geopolitical worries, business scandals, and public relations gaffes have increased distrust and intensified the attention given to investment risk versus return. Add this to the explosion in corporate jargon and increasing use of aggressive selling tactics, and you can understand why buyers may be hesitant to agree to sellers arranging appointments with them.
More people Involved
Matrixed organisational structures, multinational companies operating in several countries, the need for team working and involvement, and a reduced willingness to accept risk have led buyers to include more and more participants in the buying process.
Finding a path through complication and uncertainty
Having easy access to massive amounts of data and information is not always a good thing in the business environment. Information overload can make it unclear which is the best way to achieve business goals and even if those goals are still appropriate. Uncertainty can lead to a failure to keep doing the same things and not to change. Inactivity is unlikely to be of long-term benefit to the business, will not reduce costs, increase sales or better manage risk.
Waning customer loyalty
Over the last few years, we have seen a breakdown in the correlation between customer loyalty and satisfaction. Previously if a customer said they were satisfied, or very satisfied a seller could almost assume that the customer would be back to buy from them again. Nowadays, that assumption cannot be taken for granted as a customer may say they are satisfied but still by from competitors. Customer loyalty is on the wane.
How does this affect sales companies?
Increasing the pressure to perform.
The combined effects of the changes detailed above have increased the pressure brought to bear on sellers. To begin with, salespeople have to overcome the cynicism and false impressions that customers may have arrived at by researching online. Starting the customer engagement when the buyer already has a fixed idea in their mind of what will address their needs can make it more difficult for the seller to uncover the real challenges getting in the way of the customer’s success.
When it comes to setting an appointment with today’s buyers, salespeople have their work cut out to pin down a meeting with cynical buyers who are already pushed for time. There are often more participants involved in the buying process, and creating unanimity among them all is usually what it takes to reach a purchasing decision. In more complicated sales situations, finding that agreement may require the use of a sales team that must present a unified pitch to the buyers. Each member of the team must demonstrate value in the sales experience itself and not merely in the service or goods being sold.
Sales organisations that fail to manage these challenges adequately often find themselves falling at the finishing line. Perhaps receiving verbal agreements that never materialise into concrete signed deals.
Developing Up-To-Date Sales Competencies
Even though today’s buyers are more shrewd, short of time, under pressure, and less accepting of risk, along with being more demanding, they still need assistance to arrive at the correct decisions. Despite having extraordinary access to freely available information, buyers still have the task of filtering through all the possible choices to weed out misleading and irrelevant information and find the real value among the options. More information does not always mean more understanding. Buyers still need the experience and knowledge of experienced salespeople to identify their circumstances and challenges accurately and present solutions that will best serve them.
To stand out from the crowd and be genuinely effective, salespeople must emphasise the added value in the buying experience itself. Demonstrating this can only be achieved by helping customers gain a clearer understanding of the fundamental business challenge and what is the best way to address it. It is not about dominating or manipulating the customer; it is about being credible, cultivating trust, and adding value, which, in due course, will lead to more opportunities for the salesperson.
Effective sales approaches are not created by the use of a single technique or strategy. They require a comprehensive range of sales capabilities and tools that are continuously applied, improved and perfected.
Be Agile and Never Stop Improving
To keep abreast of developments in buyer behaviour and stay ahead of their competitors, successful sellers must be agile and make every effort to continuously improve. For the largest international sales companies, maintaining the pace of improvement at scale is not a simple undertaking. Pinpointing the precise skill sets, the correct people, and the right ways to quantify progress takes expert planning.
Five Ways to Modernise Your Sales Process
- Change begins at the top
- Humanise it
- Concentrate on Being Agile
- Thinking about the End Result
- Utilise Data to Sustain Improvement
Change begins at the top
Genuine, demonstrable support and buy-in from the heads of your organisation can make or break the sales process before change is even attempted. From the ideas that are passed down the chain about the change process to the way they behave, leaders need to send an unambiguous message and set of skills and actions to push forward.
Humanise it
Every salesperson and sales leader is a unique individual with distinct strengths and weaknesses. Humanisation starts by addressing these personal qualities and differences which generates buy-in and engagement and increases the pace of learning. Tailored, personalised content fosters direct relevancy and targeted learning encourages individual behaviour modification in the workplace and is viable at any scale.
Concentrate on Being Agile
The sales methods used by a sales organisation encourage uniformity and a shared language for teaching. However, the sales skills are what drives agility in front of the buyer. In an environment of continual change, successful sales forces are agile sales forces.
Thinking about the End Result
Policies to develop change and methods of quantifiable measurement should be detailed before the initiating sales transformation, no matter the scale of change. Understanding the crucial business parameters you intend to improve should drive the nature of the behaviours you aim to alter. Maintaining the pace of transformation is the best route to achieving the greatest possible return on investment. Thoroughly preparing a plan to keep the learning process alive and continuously improving is worth spending an amount of time before initiating change.
Utilise Data to Sustain Improvement
Utilising real-time data and diagnostics not only illustrates the progress made and business results, but it also enables real-time changes to be made if fine-tuning is needed to keep on track. Commitment, behavioural change, and the improvement in outcomes are all quantifiable factors that need to be integrated into the information generated which should be precise and also presented in a manner that leads to action being taken.