No one can promise sellers that if they do three things all of their hopes and dreams will come true. Life – and B2B selling – isn’t that simple. However, there are tips and tricks – i.e., little nuggets of wisdom – that make a big difference. In speaking with very savvy CSOs and sellers, there are three things that great sellers are doing that ALL sellers MUST take notice and consider doing themselves.
1 – Build Buyer Confidence
Gartner’s research shows that buyers with moderate to high environmental uncertainty are 30% less likely to complete a purchase. Therefore, sellers must build buyers’ confidence in buying. Sellers should:
- Share data-driven insights
- Highlight the nuanced differences between the buyers’ options (including the do-nothing, status quo)
- Reassure buyers in what they are doing well
Ultimately, the goal is to develop confident buyers who lead their stakeholder group with a greater level of certainty and conviction. This improves their ability to influence the group to a buy decision.
2 – Monetize the Urgency
Sellers often struggle with buyer delays and the need to nudge buyers through their journey. There are many reasons why buyers may drag their feet. Certainly, buyers must know their internal decision rights and secure funding. Assuming those things have already been resolved, what else could be causing the delay? Often, buyers don’t feel a sense of urgency. Sellers should address this by not only creating a sense of urgency but also monetizing it. Urgency may stem from the financial impacts of:
- New opportunities or costs savings
- Mitigated operational or compliance risk
- Favorable pricing
Obviously, the seller must have a firm grasp of the buyer’s specific return on investment. If the ROI can be measured, so can any delays in the buying decision.
3- Enable Buyers for Change
Related, and potentially another root cause to confidence issues or delays, many buyers struggle in seeing their organization navigate change.
The inability to change forces many buyers to retreat to the status quo option. If the status quo is good enough plus reduces the risk of failure, it seems like an increasingly favorable choice. Unfortunately, the status quo rarely helps sellers grow revenue. Correctly, Gartner has talked about buyer change enablement but this is tricky since so much of the buyer’s ability to change comes from within. Yet, there are things that sellers should do to help including:
- Connect buyers with existing customers to hear about recent successes
- Provide a vision for transformational success including pre-requisite steps, project or phase management, and risk mitigation
- Introduce buyers to partners and systems integrators that allow the buyer to transfer some of the change management responsibilities
When buyers feel capable of successfully changing, they are more comfortable making confident purchasing decisions.
Savvy sellers have figured out ways to help buyers work through their buying journey. CSOs and sellers alike should take note and ensure these tips become part of their sales execution.