10 Oct Creating Value through Customer Insights
In sales, we have learned that the best way to achieve success is through a deep understanding of our customers’ needs. Over the last 20 years, the majority of sales training has taught us the importance of asking good questions – open-ended questions, probing questions, exploratory questions, etc. While the ability to ask good questions is fundamental for sales success, it doesn’t work today as well as it used to, especially in B2B sales.
Today’s Competitive Marketplace
Think about today’s competitive marketplace. As global competition continues to increase, it has become harder and harder for sales people to differentiate their products and services, build trust, and gain customer commitment.
Customers simply don’t have the time for sales people anymore either. One of my old client’s summed this up perfectly by saying: “My time is stretched thin. I no longer have time to make appointments with (B2B) sales people who show up and ask the same set of questions as the last salesperson. I need to get value out of the conversation.”
Customers Don’t Know What They Need
Even when you do manage to get an appointment with a customer, what do you in those situations where you ask great questions and still don’t discover a need?
Many times, a customer won’t have a need, or won’t know what their need is if they do have one. As Henry Ford once said…
“If I asked people what they wanted, they would’ve said faster horses.”
If there is no need, that doesn’t mean you should not create one. One way to do this is through providing your customer with key insights.
The Power of Insights
Top sales performers create value during the sales experience by teaching their customers key insights about their business. They offer unique perspectives on the market. They provide ongoing advice and educate the customer on new issues. They are not afraid to challenge their customer’s assumptions. Ultimately, top performers offer their customers new ideas to help their customer’s increase revenue or reduce costs.
What do your sales meetings look like? Are you offering your customers key insights? You want to get to the point where you know your customers better than they know themselves! The first step in doing this is having a strong understanding of their world they operate in. Get to know their industry drivers and the markets they sell into. Then, during your next meeting, instead of asking questions, start the conversation by teaching them a key insight. You’ll be amazed at how far a small change like this will go.
For more information, please feel free to contact me at matt@hallettinternational.com for more practical sales tips.