Growing sales in the age of the customer
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This document provides 11 strategies for growing sales and revenue in the age of the customer. It discusses how buyers have evolved to be more knowledgeable, digitally-savvy, and in control of the purchasing process. The strategies recommended include knowing your customers, providing a positive customer experience, unifying sales and marketing, being organized, following up consistently, collaborating as a team, automating tasks, using multiple channels, working with partners, and repeating strategies on a regular basis. The goal is to engage customers on their terms and develop a customer-obsessed culture.
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Growing sales in the age of the customer
- 4. YourBuyerisevolving...areyou? 3 GROWINGSALESINTHEAGEOFTHECUSTOMER 855.411.CRM9 | 510.924.1683r minfo@convergehub.com www.convergehub.comw SothesedemandingBuyerswithshortattentionspansand intelligent browsing habits are making the business-to-business as wellas business-to-consumer purchasing decisionsin everyindustrytoday.Are you readytomarketandselltothem? TheThenewpowerofthecustomermeansthatbusinesses cannow succeedonlybyunderstanding,delightingand servingthem consistently.Mostbusinessesarenotready forthischangeandarestrugglingtocatchupwiththenew evolvedbuyer. Theoldrulesofprospectingthatmostbusinessesoperate onarebeingrewrittenasprospectsarenow essentially qualifyingthemselvesandarechoosingnottocontactthe vendoruntiltheyarewellintothebuyingprocessoreven closetothebuyingdecision.Inmanyindustryverticals, buyersarenotinvolvingsalespeopleuntiltheyareready fora price quote ortermsofsales.Thismeansthat prospectsprospectsarerulingoutcompetitors,withoutthebusiness evenknowingthattheprospectexists.
- 5. EngagingtheevolvedBuyer NurturingaLead 4 GROWINGSALESINTHEAGEOFTHECUSTOMER 855.411.CRM9 | 510.924.1683r minfo@convergehub.com www.convergehub.comw SothesedemandingBuyerswithshortattentionspansand intelligent browsing habits are making the business-to-business as wellas business-to-consumer purchasing decisionsin everyindustrytoday.Are you readytomarketandselltothem? TheThenewpowerofthecustomermeansthatbusinesses cannow succeedonlybyunderstanding,delightingand servingthem consistently.Mostbusinessesarenotready forthischangeandarestrugglingtocatchupwiththenew evolvedbuyer. Leadnurturingistheprocessofbuildingrelationships withaprospect.Thegoalistobuildtrustandearntheir businessoveraperiodoftime. Mostleadsthatarenotreadytodaywilleventuallybe readytobuy.So,youneedtobuildtrustandbethere whentheyarereadytomakethedecisiontopurchase. AccordingAccording to research, buyers today complete two-thirdsofthepurchasingprocesswithoutspeaking toorengagingasalesrep.Thisreluctanceofthe evolvedbuyertoengagewithasalesrepchangesthe roleofmarketingsignificantly.Itisnolongerenoughfor themarketingdepartmenttogeneratealeadandmoveon.Today’smarketersmustsynchronizetheirmarketing messagewiththeprospect’sbuyingprocess. Themarketingmessagestargetedtotheprospectmustbuildtrust,andthebestwaytodothatisbysharinguseful information.Ifyoucandothisright,yourcompanywillbeseenbythebuyerasatrustedadvisorwhounderstands theirspecificproblemsandcanhelpsolvethem.Thisimagewillcertainlygoalongwayonbeingselectedwhena purchaseismade.
- 6. www.convergeenterprise.com 11Strategiesthatwin KnowyourCustomer 5 GROWINGSALESINTHEAGEOFTHECUSTOMER www.convergehub.comw 855.411.CRM9 | 510.924.1683r minfo@convergehub.com Asthebuyingprocessandthesellingprocessbecomemorecomplex,andthesellerrelinquishescontroltothe evolvedbuyer Knowing and understanding customersisthe main characteristicof successfulcompanies.Winningbusinessesunderstandthewants,wishes andbuyingbehaviorsoftheirtargetmarket,andofthespecificplayers andinfluencersinvolvedinthebuyingdecision.Knowingspecificallywhat buyerswantenablesbusinessestodelivertheprecisetargetedmessages tomeetthecustomers’needs. Hereareafewstrategiesthatwill helpyouwinsalesandgrowrevenue CustomerExperienceManagement Customerexperienceisthesumofallexperiencesacustomerhaswitha businessduringtheentirecourseofhisorherrelationshipwiththat business. This can include awareness, discovery, pre-purchase interactions,purchase,use,post-purchasesupportinteractionsandsoon. The customerexperience hasbecome the mostimportantfactorin achievingsuccessforcompaniesacrossallindustries. Customerexperiencemanagement(CEM orCXM)isastrategythatfocusesondefining,understandingand buildingalldimensionsofthatexperiencearoundtheneedsofcustomer. Everybusinessoffersacustomerexperience.Inordertocreateapositiveexperience,itisimportantthatyouare awareofwhattypeofexperienceyouwanttooffer.
- 7. UnifySalesandMarketing 6 GROWINGSALESINTHEAGEOFTHECUSTOMER 855.411.CRM9 | 510.924.1683r minfo@convergehub.com www.convergehub.comw IntheAgeoftheCustomer,theshiftinthedemandsoftheCustomeris causing an enormouschange in the traditionalrolesofSalesand Marketing. Inthissituationitisbecomingabsolutelyimperativefor marketingandsalesworktogetherandshareacommongoal. ItItisimportanttodefinetheentiresalescycleandagreeonwhatpartofthe cycleisownedbymarketingandwhatpartbysales.Also,definitionsfor marketingqualifiedleadandsalesqualifiedleadsshouldbelaidout clearly. MarketingautomationsystemshouldbeintegratedwithCRMsystem,orbetterstillmarketingandsalesshoulduse acommonplatformformanagingprospectsandleadssothattheycancollaborateonwhatisconsideredtobea sales-readyleadandonwhatprofileandcommunicationhistoryshouldbetrackedforleads.Havingacommon platformunifiesmarketingandsalessothatsalescantakeoverwheremarketingleavesoff. BeOrganized Nurturingprospectsfromthefirstcontacttoclosingasalerequiressetting upprocessesandfollowingthoseprocessesmethodically.Makesurethat salesteamandmarketingteamsarediligentaboutenteringdataintoyour CRM(CustomerRelationshipManagement)system.Itwillhelptobeable tokeeptrackofallcommunicationwithprospect,allmeetingsandall documentationinonesystem.Themoreorganizedyouare,thebetterthe chancesofclosingthesale.
- 8. Followup 7 GROWINGSALESINTHEAGEOFTHECUSTOMER 855.411.CRM9 | 510.924.1683r minfo@convergehub.com www.convergehub.comw Leadfollow-upistheprimarychallengethatpreventsabusinessfrom convertingasalesleadintoarepeat customer.Industryresearchestimatesthat40-50% ofallinboundsalesleadsareneverfollowedup. Consistencyinfollow-upsshowsreliabilityanddevelopstrust.Itiscriticaltohaveanorganizedsystemoffollow-up. Trackingisanimportantpartofthefollowupprocess.YourCRMsystemshouldgiveyoutheabilitytotrackwhen followupsaredue,whentheyweredoneandrelevantinformationgatheredduringthatfollowup. Teamwork 98%ofallsalesarenotmadeonthefirstcall,soregular follow-upisaveryimportantpartofthesellingprocess.“ “ Althoughsalesisthoughtofasasolitaryprofession,workingasateamis important,especiallywhileworkingonlargerdeals.Ithasbeenobserved thatresultsarefarbetterwhenemployeesworkinateam ratherthan individuallyaseveryindividualcancontributehisbest. TTeamwork helps improve interactions,encourages innovation,and increaseresponsivenesstocustomers.Ithelpsaccomplishworkata fasterpaceandalsoensuresthatprospectsandleadsdon’tfallthrough thecracks,whenoneteammemberisnotavailableanotheronecantake chargeandmanagethework.
- 9. 8 GROWINGSALESINTHEAGEOFTHECUSTOMER 855.411.CRM9 | 510.924.1683r minfo@convergehub.com www.convergehub.comw Generatingleadsandclosingsalestakesteamwork.Makesurethateveryteammemberhaswell-definedrolesand responsibilitiesregardingtargetstobemetandrevenuestobegenerated.FollowingupwithLeadsandsimilar time-sensitivetasksmustnotbekeptpendingforalongtimeandoughttobecompletedwithinthedesired timeframe.Inordertoincreaseproductivity,theserolesandresponsibilitiesshouldbereflectedinthemarketing automationand/orsalesautomationsystemsothatthereisacontrolonwhohasaccesstowhichleads, SalesManagementmustregularlymonitoractivitiesandperformanceofteamsaswellasofindividualmembersof theteams. Collaborate Regardlessofwhatmarketplacerepsandsalesrepssell,theyarewitnessingincreasingcustomerexpectations, shiftinthecompetitivelandscape,newproductintroductions,andmorechangesonaregularbasis.Salespeople needhelptokeeppacewithallthesechangesinordertoeffectivelyengageprospectsselltothem. -------- Collaboration is what enables marketing and sales repsdrive efficiency in this changing landscapebyworkingtogetherasa team sharing documents, informationandvaluableinsights witheachother. YYourmarketingsoftwareorCRM system should provide online collaboration tools.Online team collaborationenablessalesteams to workproductivelytogetherby sharing latest information regarding prospects and driving towardsclosingmoredeals.towardsclosingmoredeals. Havingasinglerepositoryforallcollaterals,brochures,presentations,casestudiesmeanssalesandmarketing repscanfindthem whentheyneedthem.Activityfeedsofprospects,contactsandcustomersenablerepsto monitordevelopmentsinrealtime.
- 10. 9 GROWINGSALESINTHEAGEOFTHECUSTOMER www.convergehub.comw 855.411.CRM9 | 510.924.1683r minfo@convergehub.com Automate MarketingandSalesrepshavetheirhandsfullgeneratingleadsand convertingthem tocustomers.Theydonotneedtogothroughthe additionalburden ofdoing redundantdata entry and increasing administrativeresponsibilities.Whenrepsarefacedwithchallengesof carryingoutextensivereportingtasksandotheractivitiesthatare definitelynotamongtheircoreskills,theytendtofeelpressurizedand productivitygoesdown. Automationoftedioustaskswiththehelpofrighttoolscansavemoneyandenergy.Therighttoolsshouldbeable tosupportexistingbusinessprocesseswithautomationandalsofacilitateendtoenddatamanagement.For example,usetheautomationfeaturesofCRM systemstoupdateandscoreleadsbasedoncertaincriteria,and alsobeabletotrackallinteractions,documentsandinformationfrom oneplace.Automationofdaytodaytasks suchasleadassignment,updatinglists,sendingmessagesandemailsandfollow-upreminders,monitoring individualandteamperformance,andsoonleadstoenhancementofproductivity. UsemultipleChannels Multichannelmarketingreferstothepracticeofinteracting with prospects and customers using a combination of communicationchannels–websites,retailstores,social platforms,mailordercatalogs,onlinechat,directmail,email, mobile,etc.–andenablingprospectsandcustomerstotake actionusingthechanneloftheirchoice. TToday’sbuyersusevariouschannelstogatherinformation aboutaproducttheywanttopurchaseorgetservicefora producttheyhavepurchased.Multichannelmarketingis aboutchoice. CompaniesCompanies mustdevelop the ability to engage with prospectsusingwhateverchanneltheychoose.Youhaveto bewhereyourbuyersareandengagewiththem asthey wanttobeengaged.Ithasbeenfoundthatmultichannel customersspend three to fourtimesmore than single channelcustomersdo. --- --- --- --- --- --- --- ---
- 11. 10 GROWINGSALESINTHEAGEOFTHECUSTOMER 855.411.CRM9 | 510.924.1683r minfo@convergehub.com www.convergehub.comw WorkwithPartners In today’s world no business can work in a silo. Businessesworktogethertoprovideservicesorbring inmorebusinessthroughchannelpartners,Working withPartnersallowsbusinessestomaximizethereturn ontheirinvestmentsandgrowtheirchannelbusiness alongwiththeirdirectsalesbusiness.Italsohelps partnersmake more sales,close more deals,and generatehigherprofits.generatehigherprofits. Yourbusinessshouldfocusonestablishingclearand easycollaborationandcommunicationchannelswith partners.Referringleads,sharingrelevantdocuments andcommunicatinginasecuredenvironmentiscritical tosuccessfulpartnerrelationship. Asthenumberofchannelswillcontinuetoriseinfuture,theneedtoembracemultichannelmarketingwillbecome criticalforallbusinesses. Createandmaintainasingleview acrossallchannels–Prospectsandcustomersshould receivesameinformationregardlessofthechanneltheyareaccessingfrom Establish a multichannelmarketing platform – Yourmarketing platform should support engagementacrossmultiplechannels Createconsistentcustomerexperiencesacrossallchannels–Thekeytothisistomanage customerexperienceasabrand,andnotcreatedistinctexperienceforeachchannel Someofthekeyfactorscontributingto successofmultichannelmarketingare ------------ ----------
- 12. 11 GROWINGSALESINTHEAGEOFTHECUSTOMER wr Repeat Developingandexpandingcapabilitiesthatsupportyourcompany’smarketing andsellingtothenew evolvedcustomerisacontinuousprocess.Ittakes commitmentanddedication.Bepreparedtoinvestthetimeandefforttodothis onaregularbasisandimplementtheideasthroughoutyourorganization. Followingthesestepsconsistentlyoveraperiodoftimewilldefinitelyyieldbig resultsintheform ofmoreleads,higherconversionratesandsatisfied customerswhobecomeravingfans. ConclusionandAdditionalResources Forstarters,theconceptofmarketingandsellingtonew agecustomersmightseemdifficultanddaunting.Butby tacklingeachtacticstepbystep,businessescanmakeit more structured,manageable and startseeing the benefits. Wehopethatbyreadingthiswhitepaper,you’vegainedan understandingofhowtomarketandselltothedigitalage bubuyersoftoday. “ “ Onceyouhaveinvestedthetimeandefforttoimplementthesestrategies,theresultspeaksforitself.Itwillhelpyour businessprovidehighqualityandconsistentcustomerexperience,whichisoneofthemostpowerfulcompetitive differentiatorsinthenewage. Thiswillenableyoutoreachtherightpersonwiththerightofferthroughtherightchannelattherighttime.Youcan achievethiswhilereducingcostsandimprovingtheeffectivenessandperformanceofyourmarketingandsales effortsandenablingyoutoachievesignificantbusinessgrowth.