As buyers get savvier and selling gets harder, is insight selling the answer for salespeople?
This year there have been several books and numerous blogs on the subject of insight selling. Michael Harris says in his book Insight Selling that buyers today are flooded with too much information. Salespeople need to act as a filter, clarify the buyer’s thoughts and be a guide in the buyer’s purchasing process.
As Mike Schultz & John E. Doerr say in their book, also called Insight Selling, salespeople need to establish credibility by demonstrating keen insight into the buyer’s world. This insight can be found in several ways including social media, buyer’s websites, financial details, industry sector knowledge and trigger events.
They go on to say that salespeople need to educate buyers with new ideas and help them visualise how a solution will improve their situation. They emphasise that the fear of loss is greater than the desire for gain. Therefore buyers need help driving higher profits without higher headcount. If the salesperson can collaborate with the buyer to help them reach such a goal, trust will ensue. The more buyers see salespeople as a source of insight, the more buyers will include salespeople early in their buying process.
Sales Performance International report that when salespeople engage first with a buyer, they win business over five times more often than sellers who wait for buyers to engage them. Therefore, the earlier salespeople are involved in the customer’s buying process, the greater the chance of winning.
This is just as well as a CSO Insights study shows that marketing departments provide only 33% of qualified leads. Therefore, salespeople must take responsibility for generating their own leads. As Paul R. Dimodica says in his book Revenue Capture Scorecard, “The simple goal of marketing is to create inbound leads that generate revenue. If marketing doesn’t, it’s failed and you need to let your salespeople hunt alone and increase online presence”.
What impact is insight selling having on your sales?