Revenue Funnel’s Post

Businesses frequently wrestle with the anxiety of losing revenue or unit market share. Yet, when a customer's preferences align more with a competitor's offering than with your own, it prompts reflection on whether you're genuinely forfeiting market share and if that buyer truly belongs in your customer base. Are you possibly misinterpreting both? Ultimately, strategic success hinges on capturing and dominating your target customer segment, and gaining profit market share within that specific segment is what truly matters. i2 Strat

Time kills deals. Any stall in the sale poses a threat to the deal, a challenge more sellers are facing today. To succeed, sellers must assist customers in overcoming their inertia. In a recent article of Richardson's, we provide three key strategies to achieve this: 📉 Quantify the customer's pain 🛍 Restore the customer's buying vision ✳ Illustrate the risk of the status quo #Sales #CustomerEngagement #BusinessStrategy #Richardson #RichardsonSalesPerformance

Not sure how to combat all those “no-decision” outcomes. Well, maybe a trip to your local Psychic can help… Companies will make a purchasing decision for 2 main reasons: -- > 1) You can help them make $$$ 🤑 -- > 2) You can help them save $$$ 🤑 Yet, 95% of sellers don't have an easy way to calculate & present their value. This means... It’s left up to the prospect to determine your value on their own. And therein lies the problem. Sales leaders, if you agree these are the 2 major driving factors in the buying decision… How can you ignore them??? Without arming your reps with an easy to use calculator, You're sending your sellers into a fight with one arm tied behind their back.

People look too deep into consumer behaviour when trying to sell their services. Yes, okay, it goes deep and there are layers to making people buy... However, you must focus only on what your market actually cares about. For example, do you provide genuine value based on your expertise? Or do you start trying to micro-optimise all nuances of psychology to 'get inside of their head'? Chances are, if you provide genuine value, the nonsense micro-optimisations are unnecessary and you'll see immediate ROI on your efforts. Sales requires ACTION.

Q: "How do we smooth out our sales cycle instead of a rush in the final days of a quarter?" A: Focus on the buying process and not the selling process We sellers have effectively trained our buyers to use our own behavior against us. EVERYONE knows you get the best concessions at the end of a quarter. Even better at the end of the fiscal year. So we wait. When I bought software (and I bought a lot of it), I would intentionally drag out the discussions to get closer to the end of the quarter, if necessary. Worked every time. This issue is magnified because our sellers are trained on the selling process. But what really matters is the buying process. So the quarter goes by with "just checking in" emails and meaningless "next steps" calls. Until we get to the last few days of that quarter and get desperate. We need to instead enable the buyer. We often know as much or more about our prospect's buying process than they do. So why not prepare them. Provide them a blueprint on how to buy. Confidently. Part of this buying process requires understanding the Critical Event. The date at which the business is negatively impacted by NOT moving forward. By Enabling the Buyer to Buy in advance of the Critical Event, you will mitigate your end of quarter shenanigans.

Sellers should leave their first meeting understanding a customer's buying process, or at least understanding how well the customer understands it. Use customer-focused rather than sales-focused language: "In order to ensure we remain aligned with your needs and objectives, would you please help us understand how to align with your evaluation steps, approval needs, timing, investment considerations, and success measurements? However the customer responds, sellers gain value. At best, they can leave with a map to follow along the buying journey, and identify opportunities to help the customer achieve better outcomes. At a minimum, they can test the viability of the opportunity, and understand whether how the customer buys aligns with their success factors.

What is the true value of a sale in today’s volatile market? In an era where consumer behavior shifts faster than a click, understanding the multifaceted nature of sales is more crucial than ever. - As we navigate through supply chain disruptions and global market uncertainties, the essence of sales has dramatically transformed. - It's no longer just about exchanging goods for money. Now, it’s about: - Crafting meaningful experiences. - Building lasting relationships. - Offering unmatched value that resonates on a personal level. Remember, every transaction is a story. A story of need, solution, and satisfaction. How does your approach to sales enrich this story? How are you adapting to remain not just relevant, but indispensable in your customer's narrative? 🌟 Let's redefine sales for the modern age, not by the quantity but by the quality and impact of connections we build. Share your thoughts and experiences below!

"The customer is always right" does not mean what you think it does.   In sales, the customer will always tell you what they want. It's the most basic economic principle - supply and demand. Listen to the customer and provide them with the solutions they are looking for. This becomes your blue widget.   How have you set up your business model to adapt to and deliver on the unique needs of your clients?

Understanding the deep psychology behind buying decisions is crucial in sales. Identifying these motivating drivers can significantly enhance your sales conversations and enable you to create offers that truly resonate with your clients. Keep in mind that these drivers can vary greatly depending on who you're speaking with.

Tailor your approach to different situations. Look for customers who are going through change and will be open to new ideas. Look where demand is emerging but not yet established, where you can shape customers’ needs, rather than react to them. Develop strategies to better align with a client's emerging preferences.