In a recent post about are your salespeople calling on power or parrots I shared how your sales success or failure may be in the hands of the parrot buyer’s ability to present and sell your solution to decision makers and influencers within their organization. Time and time again a salesperson reports back after “good meeting’s” that they will win the purchase order. Weeks turn to months and the buyer has gone dark. What is happening with the order we expected? What can we do to shorten this sales cycle? What can we do to insure we win the order? In this post I will share one technique to help you, help parrot buyers lay golden PO’s in your hands.
Buyers today are doing a tremendous amount or research on the internet. It is estimated that as much as 60%-80% of the sales process is over before the buyer contacts your salesperson. Now more than ever we must find ways to help our buyers buy. Often buyers are actually trained buyer parrots that accumulate and repeat information they have heard to key decision makers and influencers in their organizations who have the power to buy. Here’s the problem; do you want your sales results, your team’s ability to achieve your sales growth targets, your income at the fate of a buyer’s ability to present and sell your product and or service? Ya…I didn’t think so.
How can we equip and empower buyers to effectively present and sell our products and services to decision makers who have the ability and power to approve purchase orders?
One technique I have used in a number of industries is to provide the buyer a presentation slide deck that speaks to the specific buyer persona’s of those who do have the power to approve the purchase. So what is a buyer persona? Per one of the leading thought leaders in buyer persona’s Adel Revella;
“Buyer personas are examples of the real buyers who influence or make decisions about the products, services or solutions you market. They are a tool that builds confidence in strategies to persuade buyers to choose you rather than a competitor or the status quo… insightful buyer personas readily inform strategies for persuasive messaging, content marketing, product or solution launches, campaigns and sales alignment.”
If you want to learn more about buyer personas I recommend you download and read; The Buyer Persona Manifesto.
In one company we found we were presenting buyers and those buyers had to gain the approval of the; CFO, CEO, COO, and Engineering. We spent some time interviewing these key decision makers and identified what was important to each, the criteria they used to make decisions, and what they needed from us to make those decisions. For example;
CFO- they made decisions based on number, return on investment, mitigating risk for the least cost, insuring the investment supports the strategic vision of the organization. They hope and plan to be CEO one day. They want to make smart business decisions that demonstrate their ability to move into this job when the time is right. They want to avoid decisions that jeopardize or could limit their plan.
CEO- frequently from an accounting and finance background with strong understanding of operations. Sets the vision and is constantly looking for anything that could be a roadblock in achieving that vision. Responsible to shareholders, often the owner, they are about growing the company profitably and investing in equipment and services that support that growth.
COO – operations focused, key words; efficiency, production, productivity. Often grew up through the manufacturing ranks as plant manager, may have had some purchasing and quality control experience. Focus is on meeting the needs sales has sold as effectively and efficiently as possible. In this example we kept hearing the desire to reduce manufacturing variance.
Engineering- They have a laser like focus, all data no emotion to solving the problem to be solved with this purchase. Needs to make sure you clearly understand the problem they are solving. They not only need to see and hear your solution but also see the information and decision process you used to make this recommendation. They want information and ideally open communication with your engineers to have the ability to speak with someone highly educated like themselves and not someone trying to sell them.
Based on the above we created a slide deck of 10-12 slides. The first two slides were basically a requirements summary sharing our understanding of the problem to be solved. The rest of the slides provided what each key decision maker with power needed to commit to purchase. In addition to the slides we provided an appendix that included product data sheets, engineering drawings, key content web links, engineer contact information within our team, and a deep dive in data should an engineer wish this information. For example, we provided a ROI on the product and shared expected returns. We provided testimonials from other well known companies in the same industry. We established a cost on doing nothing and a weekly cost of not purchasing. The last slides clearly mapped out the steps and expectations of how to commit, what they should expect when. Ideally we always asked to present these slides in person, via web conference, but worst case we have now equipped the buyer with a sales tool to gain funding to support the purchase.
What will surprise you most is we did not talk a great deal about us, if all as much as the problems we solve, who we have solved them for and provided what we have learned others have needed to make informed buying decisions.
How about your company….
Do you provide tools to help buyers sell your solution internally? Or do you count on your brochures to do that?
Do you understand who the power decision makers are in the buying journey your customers go through? If so who are they in your industry?
What tool(s) have you created to help educate and inform key influencers in the buying decision?
While the statistics show buyers and influencers feel 97% of their interactions with possible vendors are not worthwhile, isn’t it time your company becomes one of the rare 3% who proactively provides useful, relevant , insightful information in a way and language your influencers need to lay golden purchase orders in your hands?