When buyers are ready to buy, they typically target a narrow handful of providers that meet their perceived needs. Realizing, this stage demands tolerance and rations of prep work. Yes, it is challenging and time consuming to get on the short list, however, gathering Right Talent – Right Prospect – Right Time and understanding ‘The Prospect’ and Their Why”, and what specific customer annoyance are they attempting to fix - at what price level?
Important to know, “when” that procurement will take place? Acting on the intelligence collected is why pairing strategy matters because it takes the right rep with the right message targeted to the right prospect and committed leadership.
Pairing Right Talent – Right Prospect – Right Time
“Human behavior harmonizing reps, prospects and timing feeds the primary explanation for 87% of sales performance wins and losses. The truth behind the numbers will often be revealed by measuring … customer, prospect and rep engagements. The strategy is owned by the business and should assume full accountability” Source: CSO Insights Report/Insight2sales
Obtain more wins than losses (including postponements) necessitate closing the behavioral gap between disciplines involved. Engaging buyers (CX) on their turf will contribute to achieving top rep sales performance. Channeling prospect measurements balancing reps, prospects across corporate objectives will help direct buyers to you (via website inbound marketing) calculating ‘when, why intent’ searches, along with devices they use to quench their hunt for intel.
Study seeks to obtain knowledge of buyer intentions and (patterns) of ‘Why’ are they conducting those specific evaluations/comparisons. What is it they want to face?
Try to recognize and act on prospect digital patterns and behaviors. Getting reps empathize for and about how to rally around Covid-19 limitations is the new normal. Obtaining a thorough and predictable grasp of the ‘new normal facts’ across your reps and prospects is most paramount being linked to corporate objectives.
FACT - 88% of REPS ARE NOT ENGAGING CUSTOMERS with CX KNOWLEDGE. Coupling reps, prospects and corporate objectives into actionable customer acquisition strategies creates a perfect storm for new and retained revenues. The best way to stand out today is by offering exceptional prospect empathies (CX) and that experience comes from knowing and spreading insight armed with the prospect intent intel, rep strengths, and corporate commitment to the trio of disciplines will get all through current times.
Customer Churn Concerns as a Result of Covid-19 Disruption
Source: Gartner Overview & Key Findings
The first two waves of Gartner’s 2020 Tech Marketing Benchmarks Survey found that, although 53% of C-level executives are “very concerned” with customer churn during times of economic crisis, only 33% of technology marketers are “very concerned” with customer churn.
Technology marketers may find it difficult to allocate resources toward customer marketing if the metrics by which their success is measured continues to focus on net new acquisition. The 2020 Tech Marketing Benchmarks Survey found that only 32% had adjusted marketing key performance indicators (KPIs), and only 43% had increased resources toward customer retention and expansion.
Driving growth from both existing and new customers must consider that not all organizations or regions have been impacted by the COVID-19 crisis in the same way. The path for recovery may also be uncertain.
Which sectors have taken the hardest hit?
86% Hospitality and Leisure 83% Higher Education
Leading during a crisis covered in Part 3 series of 5. Customers decide if your offerings are valuable, not you!