BANT. You’ve heard it a million times. It used to be the go to acronym for prospect qualification – failing to clearly establish a potential customer’s budget, authority, needs and timeframe early on would result in long sales cycles and low win rates.
There are lots of posts around the popular research that indicates, “Customers aren’t engaging sales until they are, 57, 70, 90 (depending on the research you read) through their buying cycle.” As usual with the posts, there are the usual doom and gloom announcements about the future of selling and the “death of the traditional sales person.” Depending on the point of view being promoted and the services or tools being sold by the writer, things are shifting to social, marketing automation, content, inbound inside sales, and any other configuration of whatever is being promoted.
Here’s an exercise - ask each person on your sales team to explain how they manage their leads. Whether it’s an inbound lead from marketing or someone they met at last week’s conference, there should be some type of system in place. Right?
How many different answers would you likely receive?
It seems that I have been in many conversations lately about Customer Relationship Management Systems, or CRMs. I have spoken with a variety of business owners and sales team leaders who are inquiring about the “best” CRM for their situation. What most are really looking for is a magic bullet to make their salespeople do the right activities to generate enough business.
I was talking with my niece, who’s in her early 20s, about how technology has changed how people communicate. She came up with an interesting anecdote: The first line many guys use when approaching her in a bar is, “Are you on Snapchat?” Her reflection was that they are more comfortable going around the corner and sending a chat message than talking to her face to face.
In survey after survey, the average sales person’s inability to effectively communicate the value of their offering has been rated as the most frustrating challenge facing today’s CEOs and Heads of Sales.
They are right to be concerned. The statistics are truly horrible.
From north to south, east to west, Membrain has thousands of happy clients all over the world.