Three Models to Scale Your Buyer-Seller Relationships
Three Models to Scale Your Buyer-Seller Relationships
Although the 2008 global financial crisis considered by many economists to have been the worst financial crisis since the 1930's Great Depression, some believe the economic world is in remission not recovery. We are living in uncertain times, VUCA (Volatile, Uncertain, Complex and Ambiguous) is the new normal that we all must continue to negotiate.
Volatility and uncertainty have created a need for environmental scanning on a macro and micro level. To assess the impact on your business, your customers and your customer's customer. To create opportunities and serve your customers present and future needs.
90% of decision-makers will not answer cold contacts, but 80% of connections on LinkedIn are open to new opportunities. 57% of buyers are in the decision-making process before reaching out to sellers. Although savvy buyers can cherry pick companies, brands, products and services from among the many global competitors vying for attention. CEB research shows that B2B buyers are uncertain about the wealth of data on a solution. To complicate matters further, there is an array of influencers involved in the buying decision. B2B buyers are increasingly overwhelmed and often paralysed by increasing complexity.
Sellers must run this complex gauntlet, negotiating with each influencer in the buying process. Buyers are careful to choose whom they allow on to their shortlist. Today’s purchasing decisions need more discussion and due diligence. There a disconnect between the traditional hunter seller ‘self-interest’ and the buyer’s ‘self-interest’. Now, sellers must establish many alliances within a customer account if they are to develop a long-term relationship.
While buyers have more power and are only interested in meeting their own needs. Today’s buyers are not interested in hearing the seller’s product benefits ‘sell’. Buyers have done their research and know as much about the sellers should know about the buyer’s needs. What they want to know is whether your product solves their specific problem and they want to know this from trusted sources. The trusted adviser has an honoured relationship, a broad knowledge of the market, and an in-depth technical skill to help buyers evaluate their options.
Stop Selling Start Building Relationships.
The relationship will help sellers present the right solution with the right critical factors to the right influencers at the right time. Scale Your Sales shows sellers how to build strategic relationships into lifetime partnerships. A trusted partner places sellers at the customer table, a position to best guide and advise your buyers.
The Scale Your Sales System
The Scale Your Sales system is formed of three modules:
Scale Your Sales Resilience
The three elements of Resilience are Youology, Customers and Environment. Scale your sales resilience help sellers build self-awareness, customer awareness and environmental awareness. 'People buy people' before they buy products and processes. Even business to business (B2B) is people to people (P2P) relationship based connections of buyers and influencers in the buying process.
Self-awareness is an essential trait of all successful relationships. In fact, all customer-centric operations must develop self-awareness. When sellers are aware of how their actions can affect the outcome of a sale, a relationship and the future of the business. They are more likely to pay attention to the triggers that hamper customer success. Self-awareness enables sellers to adapt their natural approach to better aligned with their buyer’s preferences.
Knowledge is power and research is the keys to understanding and capitalising on customer opportunity. One of the many tools we use is PESTLE (Political, Economic, Social, Technological, Legal and Environmental), this is an excellent starting point to analyse the customer’s macro environment. Researching the customer’s microenvironment can be through the analysis of the customer supply chain.
Scale Your Sales Productivity
The three elements of Productivity are Priority, Profile and Personalised Promise. Scale Your Sales Productivity helps sellers develop strong relationships into partnerships. Do you know which of your customers contribute a disproportionate amount to revenue and which cost you money? A threat to the stability of your revenue is not knowing the metrics of your most valued customers. Such as the rate of customer lifetime value to cost of acquisition or the revenue churn rate and the customer effort score. Scale Your Sales helps sellers Priorities and personalise their valued customer relationships.
Your sales productivity Profile helps sellers understand the purchasing requirements and processes of the diverse and knowledgeable buying unit.
Profiling is not a customer avatar it is the process of gaining a personalised understanding of the individual influencers in customer buying unit.
Scale Your Sales Promise create the personalised plan to deliver the wants, needs and customer business outcomes. Promise is about being intentional in building a trusted relationship with buyers and influencers.
Scale Your Sales Attraction
The three elements of Attraction are Engage, Educate and Elevate. I will elaborate further on the Attraction strategies during my keynote at Sales Innovation Expo on 27th March, Why Selling Does Not Sell!
Janice B Gordon awarded position 25 of the TOP 100 Global Business Influencer 2017. She is a Visiting Fellow of Cranfield School of Management consulting in Key Account Management and founder of Scale Your Sales. Janice will be showing how to influence the influencers to Scale Your Sales. Join her in Theatre 7 on Wednesday 27th March at 14.00: Why Selling Does Not Sell! Book your free ticket for the Sales Innovation Expo here.