I recently participated in a fascinating panel discussion facilitated by Jonathan Farrington of Top Sales World on “Identifying the New Post-Covid Frontline Sales Professional” with Dave Mattson of Sandler Training and Lisa Leitch of Teneo Results. I’ve included a link to the recording at the bottom of this article.
Many have heard statistics on the value of existing accounts: 80% of future profits come from 20% of customers; 65% of revenue comes from existing customers; it costs 5% less to retain a customer than to gain one.
Did you ever notice how most supermarkets place the least capable cashiers in the Express Lane? Drives me nuts! The Market's perspective: Small orders will be easier for them to handle. My perspective: Let's go!!! They call it Express for a reason!
In my experience, the #1 problem for salespeople engaged in complex b2b sales is failing to understand how customers and prospects make decisions.
Buying is complicated—we see all sorts of research confirming this. Whether it’s the fact the majority of buying efforts end in no decision made, the high level of of “High Regret Decisions,” increasing uncertainty on decision confidence; more data points to how buyers struggle during and after the buying journey.
Without trust, sales die before they can begin. You know this in your gut - if you walk into a car dealership and the salesperson gives you a slimy pitch and a barrel of lies, you will walk right out again. In complex b2b sales, the timeline from “walking into” the conversation and walking away may take longer, but it’s still true that you don’t do long-term business with people or companies you don’t trust.
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