Q: SHOULD SELLING BE VIEWED AS A BUYING EXPERIENCE AND WHY
JOHN: Selling is a critical activity in the B2B buying experience. The buyer and seller must be partners to understand the business challenges fully, the environment within which these challenges exist (technology), as well as the personnel dynamics (people).
Sales Enablement often fails to support this relationship fully. The focus on the sales team, and how they move the buyer through the sales process smoothly and linearly, is a problem. Buyers are in control and care little for the sales cycles we have defined.
Revenue Enablement recognizes this reality and seeks to maximize the customer experience at each touchpoint. This focus on customer experience enables the buyer, or more often, the buying group, to better understand their challenges, best practices for solving these problems, their requirements, and so forth.
When a business is making use of Revenue Enablement, they work consistently with each customer to ensure that each customer/prospect can make the right decision based upon their individual needs.
The focus is on their success, and that they become fans and advocates who further speak about the value of your business.
Q: WHAT ARE THE TOP WAYS COMPANIES CAN TRANSFORM SALES TO IMPROVE THEIR PROSPECTS' BUYING EXPERIENCE IN THE NEXT 12-24 MONTHS
- The buyer is in charge of the process, not the seller.
- Buyers almost always have buyer regret after signing on the dotted line. You need to deliver immediate value and quickly demonstrate that they made the right decision.
- Today’s customer is also tomorrow’s buyer.
- If you fail to deliver value, they will leave you. Maybe not today, but that customer will leave you
- Happy customers are far more likely to buy more from you then a prospect who is not yet doing business with you. Their success is a proof point that will justify their decision to either buy more or move to the next solution.
- Enable sales managers to be tremendous coaches.
- Provide sellers with the content, and the know-how, to customize and personalize that content for specific buying situations.
- Train them on critical sales skills.
Q: HOW SHOULD COMPANIES DECIDE WHICH BUYING EXPERIENCE IMPROVEMENT INITIATIVES TO START WITH - ASSUMING THEY CAN'T DO ALL AT ONCE?
JOHN: The reality is that you can rarely do it all at once.
Start simple by having conversations with salespeople and sales managers to identify where the most significant pain points are in the customer/buyer journey.
From there, bring all ideas back to a central group who can help you prioritize what to do first.
If you are already gathering this sort of feedback, move past your internal walls and reach out to customers and prospects. They know better than anyone else, what is right, and what is wrong in your process. How do you get them to share feedback? Will they sit down and discuss it with you in person? If not, will they answer a survey or provide some other sort of anonymous feedback?
As you move through these more direct routes, you can next start to dive into data. Look at bottlenecks in the sales process using metrics like these:
Deal and Stage Velocity
What are the median lengths of each deal stage by vertical, product, or persona? Where do you see bottlenecks?
Do you have deals stuck in a specific stage of your pipeline? Analyze each of these deals, why are they held up?
Customers will always push to get a discount on pricing. However, those that have done an excellent job of understanding the business pain, and articulating the value of their offerings, are in a better position to hold firm.
Are you seeing areas of your business struggling with discounting?
The average seller works for their employer for around 24-36 months. When you include the amount of time it takes to reach productivity, you are lucky if they are productive for two years at your business.
How do your sellers compare?
Q: WHAT ARE YOUR TIPS FOR ENSURING THAT TECHNOLOGIES CONTRIBUTE TO THE BUYING EXPERIENCE IN MEANINGFUL WAYS?
All technologies must integrate to deliver a seamless customer experience. The focus on experience results in higher satisfaction, and improved adoption — without which, you are unlikely to achieve business results.
Additionally, these systems need to share data in a manner that allows it to be combined and mined to deliver insight.
Q: HOW DOES YOUR SOLUTION HELP SELLERS IMPROVE THE BUYING EXPERIENCE?
JOHN: Bigtincan has long focused on the critical technological attributes discussed above, easy to use, and integrated across your existing technology investment.
Sellers are thereby able to use Bigtincan in customer-facing situations, sharing rich content experiences in a side-by-side selling motion that results in increased seller and buyer satisfaction.
Bigtincan goes far further, by also focusing upon content personalization, training, coaching, and much more.
Buyers do not want to hear or see how your solutions solve generic problems; they want to understand how your products will help them meet the challenges of their own business.
Content must be able to be personalized to each unique customer in a manner that resonates with them while maintaining your brand and keeping your compliance teams satisfied. Personalization is where Bigtincan outperforms all other solutions.
Sellers can easily create one-off content experiences for individual buyers or leverage rich, easy to use, and configure, document automation capabilities through all of our platforms.
Let’s face it, too many sellers are not getting the feedback they require to improve their skills. Poor coaching leads to misunderstanding customers’ needs, resulting in losing deals you should have won and sometimes winning contracts you should have lost. Buyers pay the price.
Bigtincan Zunos is the leading Sales Coaching solution on the market and provides coaches and managers with the tools required to coach sellers in a variety of ways.
Coaching and training are peer capabilities to increase seller performance — which leads to better buying experiences.
Bigtincan Zunos also provides robust training capabilities that enable virtual, in-classroom, and social training modalities. You determine which is most appropriate for your teams’ needs, and Bigtincan Zunos will help you deliver.
Q: How does revenue enablement ensure a great buying and customer experience?
“Revenue Enablement is the process by which you most efficiently acquire and maintain customers, maximizing revenue gained through each stage of a customer’s journey with your business by focusing on the delivery of exceptional customer experiences. “
Revenue Enablement does not focus on tactics like content delivery and training — but will use them as appropriate. Instead, it concentrates ruthlessly on maximizing revenue per customer by maximizing the value delivered to buyers and customers, increasing win rates, ACV, and decreasing churn.
Revenue Enablement is the customer and buyer experience in action. Buyers, not sales targets, are placed at the center of the buying journey. Customers, not revenue, are placed at the center of the customer life-cycle.
By focusing on the success of these groups, businesses position themselves to deliver amazing results for all involved, increasing satisfaction and revenue in the process.
VP OF REVENUE ENABLEMENT, BIGTINCAN
John Moore partners within Bigtincan to test and refine best practices; meets with practitioners, analysts, and thought leaders; and is focused on increasing the level of adoption of Enablement best practices, processes, and tools across the globe. Follow him on LinkedIn.
Bigtincan creates Sales Content Management Software and Sales Training and Coaching Software to enable companies to deliver Sales Enablement Solutions to their businesses.