Welcome to the weekend! It’s nearly the end of January which means the year is now into full effect. I’m curious how many of you have planned 2020 goals for the year, how those are tracking, have you changed any and/or added to them over the past few weeks (I have!).
2. Researching trends in leadership development led me to the Leadership Circle. It’s an alternative approach to leadership thinking using a combination of techniques. Ordered Scaling Leadership.
CRO / CMO 🚀
3. Is the MQL really ‘dead’ in 2020? The troubled truth with MQL’s: Advice for 2020 .....absolutely not. Lot's of narrative about this metric from marketing leaders across the globe. I don't believe the answer is as obvious as people make out.
A recent Harvard survey found that the modern sales process has radically changed with buyers entering the sales process 60% into a buying cycle.
As sales people this makes YOU more important than ever, not less because information alone does not close business. The winners will transform their approach as YOU now need to focus on 6 scientifically backed commitments.
Favorite quote from the study: "Science shows most effective way of closing is small incremental commitments - not a final big close".
> Key Lessons:
Guiding other people is what the human brain works - I'll introduce the 6 commitments vital to modern selling later...
+ Sales people have become more experienced and selling is more competitive. Buyers now get to 60% of the buyer cycle and sales individuals are more important than ever because they don't buy the product/ service but the interpersonal skill.
+ We behave in ways that drives down performance. Harvard business review found 63% of sales people regularly behaved in ways to drive down a sale, what does that mean.
It means when you sell in a way that conflicts with how the brain wants to make a buying decision. When we align how we sell with the buyer we make the buyer process much simpler (you obstruct the sale) .... obstructing how our brains are wired to be influenced.
+ How does the brain make a buying decision? You need to create powerful buyer centric approaches. Well scientific research has shown 6 strategic commitments every buyer cycle needs.
These 6 whys are certain commitments that must occur more than others in the brain, to drive people to say YES.
1. Why should I change - the foundation (we/ you struggle the most with this one, status quo bias and if we/ you don't solve we're irrelevant). Focus on problems, the scope/ cause, consequences and provide provocative insights. Most sales people don't search for problems not solutions - we are now problem finders, if I can find a problem they'll let you solve it. A psychiatrist study shows - The first problem the patient brings you is never the real problem.
2. Why now - the longer someone takes to make a decision means they will not take a decision. Following these commitments helps to speed up sales cycle, make it easier and less risky. Buyers enjoy buying if you follow the commitments.
3. Why your industry solution - most don't understand our REAL competition, we don't see it coming. Everyone wants to make wise decisions, everybody has lots of options whether you know it or not.
4.Why you and your company - the buyer looks at a reflection of the sales person and judge the company, inter-personal skills are vital for this commitment - add value.
5. Why your product or solution - avoid being a cost leader. Look for distinct value, how am I different than the competition and does my buyer care. Competitive is not static, look for distinct value. Distinct value moves with every deal - YOU need to evolve and adapt the distinction for each individual buyer, not reply on static differentiation. How can YOU make it matter to them, think about their journey. Connect the dots, make it about the person - no one cares about us or company.
6. Why spend the money - 2 buying motives for every decision, desire for gain and fear of loss. We're very poor at the fear of loss, how to position to figure out what they'll lose is more IMPORTANT than the gain scenario. Addressing why spend the money. Reveal how the buyers avoid loss with you - when no clear connection to avoid fear of loss. Human brain can only handle so much.
Science shows most effective way of closing is small incremental commitments - not a final big close. Each step above has a subtle close connected to each increment through the process.
If you base selling on science and the 6 commitments you will be more successful.