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Account Planning
Value Proposition
Account Research
The Gatekeeper
Pipeline & Forecasting
Executive Engagement
Professional Closes
Account Development
Why are buying cycles long?
It's Accepted Practice
Here’s the thing, there are accepted buying cycles across all industries just because “that’s the way it is.”
The truth is that your client’s buying cycle is only the length of time it takes you to prove value to them. That’s it!
Sales Methodology Driving Wrong Behaviour
Applying a sales methodology like BANT or Submarine doesn’t actually help to accelerate you sales. In fact, they can potentially serve as a controlling tool for management, stifling creative thinking as salespeole are forced to follow a set of rules in the belief it will create sales.
Also, in order to meet the methodology requirements, salespeople avoid engaging at Executive level, focusing rather on easy access at a lower level.
Selling To The Wrong People
The majority of salespeople don’t get to the decision-maker. They get stuck selling to people who can’t say yes. This means endless presentations and demos, constant price revisions and even selling to committees.
The result is an extended buying cycle where the competition is fierce and ultimately driven by price, like it or not.
Product-Led Sales Focus
By this we mean that salespeople get fixated on their product knowledge and features/benefits.
Having expert product knowledge is a comfort zone for salespeople to lean on when they encounter difficulties engaging higher up the decision chain. This always results in the sale becoming price driven.
Product knowledge will get you in at the lower levels of a company, but deision-makers don’t much care for features & benefits.
A more value-led sales engagement will get you access to the decision-makers and help to speed up the buying process.
Poor Account Knowledge
It still amazes us how many salespeople have only basic knowledge of the account they’re trying to sell to. It’s not enough to have a contact name and know what industry the company is in.
You need to understand how they are doing within their marketplace, how their financials look, and what issues they are facing.
You can’t be successful in B2B selling if you’re not fully prepared, actually understand their business and are able to add value to their bottom-line.