Client expectations and the buyer’s journey have changed significantly over the past two years. With this, we are seeing bold and successful companies evolve to meet the changing landscape. These moves are not just trends - they are a part of the evolution of selling, and strong sales companies adopted a number of these as foundations within their sales strategies years ago.
We are seeing a shift back to the basics; an emphasis on building and leveraging relationships; a refocus on the client; and a reexamination of how and when to use technology within the sales process. We are also seeing more forward-thinking sales organizations adapting to the current staffing landscape while taking a more economically responsible approach to skilled and specialized resources: an on-demand solution to talent that allows them to scale their staff and skillset to meet their evolving needs.
While a number of these concepts and tactics are not new, the reasons companies are applying them is to increase job satisfaction for their teams, while getting more out of the revenue development function of their business.
1. Using Sales Technology and Automation more appropriately. Over the past decade, companies have increased their sales tech stack to a point where real personalization and relationships are hindered. The early goals of increasing productivity, increasing transparency, and automating steps in prospecting and sales process has resulted in more technology solutions finding their way into the technology stack. There are a variety of tools that deliver an academic approach to selling, but most were not developed by people with real world selling experience (which becomes obvious when you try to apply them to proven processes). While these tools have some benefit when used correctly, too many remove the relationship building element of selling and act as a ”big brother” micromanagement tool for managers. Great tools enable the salesperson and help them be more effective at their job; it’s great to see companies reevaluating their sales technology stack to ensure that they are applying them appropriately to deliver value to the team, their opportunities, and their clients.
2. Merging of sales, marketing, customer service teams, and more blurred lines of activities within the revenue development team (Sales and Marketing). Handoffs have been killing deals and revenue for years. With companies entering the funnel at different points in their decision-making process, these handoffs have become even trickier. Add in the fact that some buyers want an end-to-end process without the traditional salesperson engagement, and everyone on the team needs to be able to move opportunities through to the close.
Salespeople are regularly sending and posting original content based on what they are hearing from buyers. There are two options: the market will blur the lines, or the company will define what this looks like.
The purpose of these teams is the same –to create opportunities, win customers, and retain and grow clients. With fully aligned objectives, it’s no surprise that these teams are merging into a single function of the business. By bringing these teams together, companies are realizing a more effective revenue development process.
3. Meeting your client where they are and offering both a hands-on and frictionless journey. Buyers, like people, have different wants and needs, and each prefers a different buyer journey. Historically, companies have offered either a salesperson-led sales process or an online buying option; they didn’t offer both. Prospects and clients are trying to solve problems that they have while adding value as effortlessly as possible to their business. They want to be served information that adds value. Some want the option to do their own research and buy without speaking to a salesperson, and others want to collaborate with subject matter experts and vendors to collaborate on potential solutions and discuss how a solution will work for them in their environment. It’s best not to strictly adhere to one selling approach. Great companies offer a few different paths to buy their solution and make it easy for prospects to get the information that they want in the way that they want it. Make it as easy, convenient, and hassle-free as possible.
4. Exceeding (rather than managing) client expectations, which are increasing. Let us start off by saying that this doesn’t mean that the answer to your client is always yes, nor does it mean that they are always right. Exceeding their expectations means being responsive, making it easier for them, taking the time to understand the landscape that extends beyond your solution, and having real, honest, commercial conversations with prospects and clients. Being a customer-centric organization requires creating a higher level of trust. It means predicting client wants and needs, not waiting for them to chase you for something. And, most of all, it means being committed to their success.
Business-to-business buyers look for solutions to their problems, added value to their business, or an offering that meets their needs better than what they are currently doing or finding in the market. With every engagement, great companies deliver an exceptional experience, value, and outcomes; they don’t just push features and products.
5. Highlighting differentiation and how it solves problems has become more crucial. Competition is fierce, and the number of companies and solutions that have or will enter your domain will continue to grow. If there is profit in your solution, investors and creators are sure to enter the space. In the past, companies focused on relationships, features, and price. There are several challenges with this approach in today’s world, and great companies are focused on the problems they solve.
Buyers now research solutions prior to engaging the sales team. Companies want to understand how the solution solves problems. Clients want vendors to truly understand their business and what makes their solution unique in the marketplace. This has required an evolution in approach from sales and marketing.
6. Augmenting teams using fractional and “gig” workers in the enterprise (outsourcing roles and tasks). The “gig” economy has existed in several forms since the dawn of commerce, and the business benefit of leveraging this workforce continues to grow. Even prior to the pandemic, 36% of the workforce was a part of this labor movement. The reasons vary, but undoubtedly there is a ton of talent in this pool.
Companies are now realizing that there are huge benefits to tapping this pool of resources at all levels of their business. Finding fractional or interim resources has become more accessible and brings skills, knowledge, and expertise to: fill gaps, adapt to the staffing shortages, reduce costs, manage staff levels, and augment the resources that they have available in this new economy. Depending on the responsibilities, integrating “gig” workers into your company so they feel (and are) accountable for the overall success of the business will benefit the overall culture of the business.
Some of these shifts require more planning than others. Evaluating what will work for your business requires the elimination of the “we’ve been doing it this way” mindset. Smart companies are not just implementing these changes, they are fully embracing them.
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