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4.11.18 | 5 Ways to Enhance the B2B Buyer-Seller Relationship (ValueSelling - TI Webinar)

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This webinar covers the TI-VS report on Sales from the Buyer's Perspective. You will find insights into the opinions of B2B buyers, concerning vendor companies and their salespeople, including what buyers are seeking from these buyer-vendor relationships and what they feel is generally lacking from vendor companies they work with.

Download the report, here: https://www.valueselling.com/sales-from-the-buyers-perspective

Published in: Sales
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4.11.18 | 5 Ways to Enhance the B2B Buyer-Seller Relationship (ValueSelling - TI Webinar)

  1. 1. 5 Ways to Enhance the B2B Buyer-Seller Relationship Complimentary Webinar April 11, 2018 This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden. 1
  2. 2. As an attendee you will see several interaction options in the bottom of the webinar screen. 5 Ways to Enhance the B2B Buyer-Seller Relationship
  3. 3. Type in your chat window and let us know where you are joining us from today. 5 Ways to Enhance the B2B Buyer-Seller Relationship
  4. 4. Today’s event will be recorded and archived on TrainingIndustry.com. 5 Ways to Enhance the B2B Buyer-Seller Relationship
  5. 5. Connecting on social? Follow @ValuSelling and #TIwebinars 5 Ways to Enhance the B2B Buyer-Seller Relationship
  6. 6. Have you attended a Training Industry webinar before? Follow @ValuSelling and #TIwebinars 5 Ways to Enhance the B2B Buyer-Seller Relationship
  7. 7. Type in your chat window and let us know where you are joining us from today. 5 Ways to Enhance the B2B Buyer-Seller Relationship
  8. 8. SHOUT OUTS! Follow @ValuSelling and #TIwebinars 5 Ways to Enhance the B2B Buyer-Seller Relationship
  9. 9. Today’s event will be recorded and archived on TrainingIndustry.com. Follow @ValuSelling and #TIwebinars 5 Ways to Enhance the B2B Buyer-Seller Relationship
  10. 10. 5 Ways to Enhance the B2B Buyer-Seller Relationship Complimentary Webinar April 11, 2018 This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden. 10
  11. 11. How do you think buyers perceive you when you sell to them? Tweeting? Please use these tags: @ValuSelling and #TIwebinars TIPS & TRICKS
  12. 12. How do you think buyers perceive you when you sell to them? Tweeting? Please use these tags: @ValuSelling and #TIwebinars Training industry spotlights the latest news, articles, case studies and best practices within the training industry. TRAINING INDUSTRY WEBINARS
  13. 13. How do you think buyers perceive you when you sell to them? Tweeting? Please use these tags: @ValuSelling and #TIwebinars Julie Thomas president and CEO ValueSelling Speaker
  14. 14. Chat Question: How do you think buyers perceive you when you sell to them? © 2018 ValueSelling Associates, Inc. All rights reserved.
  15. 15. Reality Purchasing is strategic and powerful Buying process has changed Vendor/supplier reduction So what: – Sales people have to adapt – Sales behavior is critical for success – Today’s sales person must “serve” the buyer – Nothing will be sold until the buyer is ready © 2018 ValueSelling Associates, Inc. All rights reserved.
  16. 16. ValueSelling research: Buyers are satisfied Average Grade: C Not Satisfied Somewhat Dissatisfied Satisfied Highly Satisfied 1% 7% 37% 55% © 2018 ValueSelling Associates, Inc. All rights reserved.
  17. 17. How buyers perceive the sales rep relationship I have a very good relationship with my sales person I can count on my sales person to consider how their actions will affect me My salesperson is honest about problems wherever/whenever they occur I continue to deal with my salesperson because I genuinely enjoy my relationship with them My salesperson is concerned about my welfare Strongly agree Agree Neutral © 2018 ValueSelling Associates, Inc. All rights reserved.
  18. 18. Buyer’s perceptions of sales reps 10% to 20% of sales reps are seen as lacking general business competence. Most sales reps are assumed to have good intentions, and the majority of vendor relationships are seen in a positive light. About 33% to 50% of point-of-contact representatives are consistently credible/ helpful in ways that add value. Although upward of 40% of buyers have a resoundingly positive view of their point-of- contact sales reps, roughly 60% of buyers actively question their sales reps’ integrity. © 2018 ValueSelling Associates, Inc. All rights reserved.
  19. 19. High level conclusions Vendor companies tend to offer comprehensive solutions rather than niche products, even to smaller buyer organizations. Most buyers seek vendor relationships that are long-term, rather than transactional in nature. Vendor companies tend to perform more poorly when selling to influencers who could serve as internal ambassadors within the buyer organization. Overall, vendor companies are doing a passable job, despite not consistently engaging with the leaders of buyer companies. © 2018 ValueSelling Associates, Inc. All rights reserved.
  20. 20. Buyers seek vendors that offer a range of solutions Vendor Portfolio Breadth (0-100 Scale) © 2018 ValueSelling Associates, Inc. All rights reserved.
  21. 21. Vendors are not effective in engaging buyers © 2018 ValueSelling Associates, Inc. All rights reserved.
  22. 22. What does the buyer want? Communication Commitment SatisfactionTrust © 2018 ValueSelling Associates, Inc. All rights reserved.
  23. 23. Communication TransparentHonestOpen © 2018 ValueSelling Associates, Inc. All rights reserved.
  24. 24. Buyers value communication skills Always effective Almost always effective Usually effective Spoken communication/presentation skills Formal written communication quality (proposals, contracts, etc) Formal written communication quality (proposals, contracts, etc) Informal written communication quality (email, social media, etc) Powerpoint proficiency Demonstrating active listening when virtual © 2018 ValueSelling Associates, Inc. All rights reserved.
  25. 25. Less than 1/3 of buyers feel vendors are well-informed Always effective Almost always effective Usually effective Common business strategy models/frameworks Understanding of core business roles and key organizational stakeholders Enterprise-level strategic thinking Understanding manufacturing/supply chain Marketing literacy Operational strategies Translations of business data to insights Financial literacy Industry structure © 2018 ValueSelling Associates, Inc. All rights reserved.
  26. 26. Buyers prefer to interact via technology Email Phone/VOIP Text Messaging Social media In-person meeting Industry/networking events © 2018 ValueSelling Associates, Inc. All rights reserved.
  27. 27. Top points of failure for virtual communication Communication is more than words ⎻ We forget words ⎻ We remember emotion We lose physical, non-verbal cues Attention spans are short Information overload It takes longer © 2018 ValueSelling Associates, Inc. All rights reserved.
  28. 28. Satisfaction Customer experience Brand reputation Long term vs. short term © 2018 ValueSelling Associates, Inc. All rights reserved.
  29. 29. How buyers feel about their sales reps Strongly agree Agree Neutral Credible Provides unique industry insight Offers innovative products/solutions Results-oriented Responsive to my questions Has a good reputation in their field Cares about my business and its financial performance / ROI Helpful throughout the buying process Provides relevant business information for buying decisions © 2018 ValueSelling Associates, Inc. All rights reserved.
  30. 30. Buyers seek long-term vendor relationships © 2018 ValueSelling Associates, Inc. All rights reserved.
  31. 31. Trust © ValueSelling Associates, Inc. 2018. All rights reserved. Add value early (Give it away) Act ethically Show me that you know me
  32. 32. Buyers question their sales reps’ integrity Agree Disagree This salesperson alters the facts to get what they want We have reason to believe that this salesperson hides important information from us This salesperson applies too much pressure trying to sell us more This salesperson makes occasional exaggerated claims of their products I know that this salesperson sometimes gives false information in order to make a sale. © 2018 ValueSelling Associates, Inc. All rights reserved.
  33. 33. Commitment It is more than just the sales rep It is about them – not you… serve the buyer © 2018 ValueSelling Associates, Inc. All rights reserved.
  34. 34. Buyers want to engage throughout the process Identification of need for product/service Contracting for vendor’s product/service Belief in value of vendor’s product/service options Understanding of relevant product/service options Awareness of available product/service options Exploration of product/service options Purchase of product/service Agree Disagree © 2018 ValueSelling Associates, Inc. All rights reserved.
  35. 35. Complex B2B sales is now a team selling activity Inside sales Subject matter experts Sales engineer/pre-sales Account executive/manager Channel sales Outside sales High interaction Low interaction Co-ordinators (demo’s, etc) © 2018 ValueSelling Associates, Inc. All rights reserved.
  36. 36. Buyer-Vendor Interactions Communication Vendor communication skills are lukewarm at best across the preferred methods of communication. Multiple Touchpoints Buyer impressions are based on multiple touchpoints with different vendor representatives for the account. Engage Sales reps need to be proficient at engaging with buyers at any point into the buying cycle. Business Acumen Vendors often lack a command of industry-relevant knowledge or business acumen. © 2018 ValueSelling Associates, Inc. All rights reserved.
  37. 37. Why do people buy? Save time Save or make money Address fear Pleasure Avoid pain • Matt McWilliams © 2018 ValueSelling Associates, Inc. All rights reserved.
  38. 38. Recommended actions based on buyer’s perceptions Improve the effective virtual communication touch points of the sales function. To sell to an executive – think like an executive. Foster the skills to better diagnose where a buyer may be in the buying cycle and resynchronize. (Questioning + Empathetic & Active Listening) Ensure that point-of-contact representatives are both ethical and credible from the buyer’s point of view. Develop the business acumen of the sales function to include a deeper understanding of financial and business insight. © 2018 ValueSelling Associates, Inc. All rights reserved.
  39. 39. What you do is more important than what you say Customer experience begins with you – Perception is reality Readiness creates opportunity Proactive Management Golden Rule The bottom line People will buy when they don’t feel sold. Communication. Trust. Satisfaction. Commitment. © 2018 ValueSelling Associates, Inc. All rights reserved.
  40. 40. Follow us! ValueSelling- Associates ValueSellingAssoc ValueSelling Associates @Valuselling © 2018 ValueSelling Associates, Inc. All rights reserved. Questions Julie Thomas | President and CEO julie@valueselling.com +1 858 759 7954 www.linkedin.com/in/julieathomas View more events like this at valueselling.com > resources > webinars
  41. 41. UPCOMING WEBINARS How do you think buyers perceive you when you sell to them? April 17: Helping Leaders Develop the Ever-Elusive Executive Presence April 25: Creating Virtual Classroom Experiences Using a Microlearning Design Approach Contact us for your certificate of completion for this event.
  42. 42. MORE WAYS TO GET INVOLVED How do you think buyers perceive you when you sell to them?
  43. 43. THANK YOU How do you think buyers perceive you when you sell to them? On behalf of Training Industry, thanks to: Today’s speaker: Julie Thomas Our sponsor: ValueSelling Associates All of you for attending! Questions or Comments? Contact Amanda Longo: alongo@trainingindustry.com

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