Only 3% of your market is actively buying. 56% are not ready. 40% is poised to begin says Vorsight.
Your potential buyer is in one of these three positions:
- Active in the sales process (meaning you may have missed the boat) 3%.
- Interested in research a solution to a specific problem 40%.
- Not interested and unaware of a problem at this stage 56%.
For the 43% of buyer’s that will journey through a process to become aware, to decide to investigate, and then to buy a product or service; this journey is a three-step process:
All buyers journey 65% through the buying process before contacting vendor sales reps. You need to get on the buyer’s radar to be considered an option in their research consideration process.
Why is this important to a sales leader?
Your sales reps will not get in front of the buyer and on their short-list unless marketing can negotiate the first 65% of the buyer’s journey from awareness to consideration. However, marketing cannot do this alone. Your sales function including your frontline employees has the essential knowledge and experience of what buyer’s want. Buyer’s need tailored content to answer their specific questions that move them along their buyer’s journey towards making the decision in the sales process.
- The Awareness Stage: buyers realise they have a problem. The question they need answering is, do you have the solution? You must provide engaging problem diagnosis that says to the buyer you are in the right place. If you understand the buyer’s macros driver and triggers, you can move them to consider solutions.
- The Consideration Stage: buyers define their problem and researches options to solve it. With a detailed understanding of micro drivers and triggers, your questions help the buyers to scope their specific problem, and you can provide details of how you craft the specific solution that solves their problem. With competitor analysis and strength and weaknesses, case studies and research papers, you aim to get on the buyer’s shortlist and a face to face meeting.
- The Decision Stage: buyer chooses a solution with the least risk and not necessarily the highest opportunity. If you get a meeting you are on the buyer’s shortlist and in the sales process. Now you must prove why you are the least risk best option to solve their specific problem. Your job is to help the buyer to experience your specific solution with a test drive, testimonials, social proof and past proven results. Although this is an area many sales reps worry about, price negotiation is a part of the value proposition and not necessarily part of the sales process.
How do you know where your buyer is in their buying journey?
Here is where your content comes in! Is your content targeted to answer a question your buyer is asking? Because your buyer will ask a question related to where they are in their journey. If your buyer clicks or reads a post that answers a question, the answer is of interest to them because they are asking the question. You can surmise where they are in the buying process.
The sales process can only function if you get onto the buyer’s shortlist. Your marketing process must be aligned to qualify that your buyer is actively interested, in the 43%. Then assessed to identify the buyer’s position in the buyer journey either the poised 3% or not.
With planning and A/B testing, you develop the insight to refine your processes. You engage the right buyers with the perfect problem to your suite of solutions.
Sales reps have an instinct about people, how they think, their different behaviour and signals, and what will influence them. Marketing is removed from direct customer contact and therefore, must work with sales to leverage the knowledge and experience of their sales reps.
Only then can marketing do what they do best to move buyers through the buying process and sales reps productively to do what they do best – sell! This is the path to Scale Your Sales.