By: Maria Williams
Buyer preferences have changed over the years. Consumers now demand that sellers understand their business more profoundly, offer valuable insights, and communicate effectively. This shift has introduced several challenges, impacting seller performance and the broader sales ecosystem.
One common issue is the growing negative perception of salespeople. Buyers view them as mere representatives of products instead of partners capable of solving business problems. The belief that sellers focus more on their own interests rather than creating positive outcomes for their clients drives this impression.
To put this trend into perspective, consumers now control more of the sales process. They often don’t engage with salespeople until they’ve identified their needs and narrowed down their potential solutions. This means by the time sellers are involved, they need to catch up. Meanwhile, the buyers show little patience for revisiting decisions they’ve already made.
Multiple stakeholders are also getting more involved in purchase decisions, further complicating matters. This translates to sellers needing to navigate the complexities of gaining consensus among diverse groups, each with its own priorities and concerns. Adding to the issue is the fact that buyers aren’t always ready to commit to purchase, even after extensive discussions and evaluations. The excessive time spent with non-buyers makes it crucial for sellers to present compelling reasons for urgency and action.
Steve Reid, the founder and CEO of Venatas, a revenue consultancy, recognizes these issues. He believes buyers have evolved faster than sellers, and sales organizations have struggled to keep pace with these changes. The outcome is a widening gap between buyer expectations and seller performance. Given that fewer consumers perceive them as go-to resources for business challenges, sellers find it more challenging to even get in the door to describe the value they bring.
“Sales organizations must improve how their sellers approach buyers, differentiate themselves from the competition, and demonstrate their value effectively to bridge this gap,” says Reid. “The key to doing this is to shift from a selling mindset to a solving mindset. Buyers appreciate good guidance when making important decisions, so they look for someone who can provide insights and perspectives to help them make informed choices.”
Reid acknowledges that the current market hesitancy is due to decades of pushy sales tactics that led buyers to prefer a buying experience without salespeople. The industry expert has witnessed this firsthand over his 30 years of experience in sales and marketing. He has held various positions, including quota-bearing account executive, front-line leader, sales operations manager, and head of enablement. He has also served as VP of Sales and Chief Revenue Officer (CRO).
This extensive background has prompted Reid to delve into sales consulting, working as a sales turnaround specialist with venture capital and private equity firms. In 2020, he decided to focus on helping organizations optimize their revenue engines and consult with companies across various industries and countries.
Because of this vast experience, Reid’s voice carries weight in the sector. He provides insights into the current sales landscape: “Buyers want salespeople who can solve business problems, not just sell products. This means focusing on the value that a product or solution can create for the buyer. Customers don’t buy your product or solution; they buy the business impact it creates for them. Selling the outcome versus the product is much more of a problem-solving approach, which customers say they are looking for.”
The CEO understands the current landscape looks challenging for sellers. However, he stresses that these challenges also present a significant opportunity for salespeople. Reid champions embracing value selling for sellers to overcome the hurdles brought by the shift in buyer preferences, the complexity of sales processes, and the diminished role of salespeople in the early stages of the buying cycle.
Value selling is a strategic approach that aligns with the skills and behaviors buyers value the most in salespeople. It addresses many contemporary challenges salespeople face, such as those explored above. It strays away from traditional selling strategies focused on product, price, or knowledge. Taking a problem-solving approach to selling emphasizes understanding and demonstrating the value of solutions in a way that resonates with buyers’ needs and desires.
Research supports the effectiveness of value selling. According to The 2021 Buyer Preferences Study by Korn Ferry, 75% of buyers state there are specific situations where they genuinely need a salesperson’s assistance. These scenarios usually involve complex business problems that require cross-functional buying decisions, new or unfamiliar buying contexts, and high-risk purchases for their organization or personal career. Salespeople who excel in these situations and demonstrate value win 74% of the time.
Reid encourages sellers to employ a buyer-centric approach. They must understand the buyer’s industry, current trends, and their common challenges. In fact, one study revealed that the number one sales behavior that encourages a customer to buy is that the salesperson is very knowledgeable about the customer, their role, and their industry. One might ask, “What does this entail?” It means knowing the buyer’s personas, relating to their daily struggles, and understanding how their performance is measured. Salespeople shouldn’t judge but empathize with their buyers. Moreover, they must speak the value language across different levels within the buyer’s organization, from operational to managerial to executive.
Sellers must also communicate exceptionally well to ensure a positive and professional impression. Thirdly, they should not only focus on the selling process. Salespeople must invest in the outcomes of their solutions. This requires helping the customer visualize success after the issue is resolved. Key business metrics that will be improved because of the solution must be identified and agreed upon before the sale is closed. Reid asserts, “Metrics measure value’s impact.”
Lastly, as mentioned earlier, sellers should offer insights and perspectives beyond the obvious (e.g., familiar concepts about known issues). Effective insights help buyers reframe their circumstances, allowing them to view the issue from another perspective, reveal hidden risks and costs, and quantify the business benefits. With this, salespeople can differentiate themselves and add value to the consumer’s decision-making process.
Changing buyer preferences have undoubtedly made selling more challenging, with buyers seeking deeper understanding, more effective communication, and greater post-sale support from salespeople. Steve Reid advocates and helps train teams to adopt a problem-solving sales approach as an effective strategy to address these difficulties, stressing the importance of demonstrating value to win buyers’ trust and drive successful outcomes.
Published by: Holy Minoza
