Increase Win Rates by 7% with Buyer Centricity
There’s a lot of talk around buyer centricity, and for good reason: there’s a strong link between high-performance sales organisations and customer centricity, and these businesses typically see 6.8% higher win rates. Plus, focusing on the customer improves the customer experience and reduces overall churn (no wonder it’s a top six sales trend for 2022).
What is buyer centricity?
It starts with a business-wide understanding of how important the customer’s needs, wants, and communications preferences throughout the buying process really are. Then comes a shift in mindset where every individual (especially those in Sales, CS, and Support) turns their focus from promoting a product to providing a solution.
So with that in mind, here are some ways you can influence a buyer-centric culture and start seeing higher win rates.
Meet prospects where they are
Potential customers have various ways of doing research. Prospects download resources, read reviews, and request recommendations from peers and colleagues by phone and on social media. They leverage other modes of communication to gain insights and information as well through means such as email, text, phone, or even in-person.
All these actions leave digital breadcrumbs that provide insights into where the prospect is in their buying process, i.e. intent data. Leveraging this data gives sales reps the ability to meet prospects where they are and even connect with them through social media to start building a relationship.
Buyers are participating in their buying process in addition to the day-to-day demands of their job. They don’t want to spend time educating sales reps on their industry, their company, their job, and their common needs and concerns; they expect you to already know these things.
You can gather this intel by doing pre-call research in your CRM(s) and online. This shows buyers you’re serious about helping them solve their needs and challenges. Plus, it demonstrates that you respect their time and have a desire to meet them where they are by asking questions that start at a deeper level thanks to thorough preparation.
Practice active listening
Fully engage with prospects during every interaction by practicing active listening. This involves focusing on what the other person and using empathy to understand their feelings, needs and frustrations. It not only makes it easier for reps to develop a better understanding of the prospect, but results in reps gaining a competitive advantage where they’re better armed to help buyers identify the best solution for them.
Tailor every experience
One size does not fit all, so don’t review all the features of your product or service during demos, proposals or presentations. Being customer centric means tailoring your pitch to the customer’s unique needs, challenges and goals that were discovered earlier in the sales process.
Be a valuable resource
Navigating all the twists and turns of the complex buying process can be overwhelming and confusing to buyers. Customer centric reps help alleviate buyers’ stress by guiding them to the resources they need so that they can glide through their decision-making process.
The content and insights shared should help prospects with problem clarification, solution exploration, validation or confidence in their buying decision, and business case building. This level of support makes you a trusted advisor. Plus, customers who feel their buying process is made easier are 2.8 times more comfortable making their purchase, and three times more likely to buy a bigger deal with less regret.
Interested in helping your team become more buyer centric? Book a demo with a member of our team to see how Jiminny can help you become more customer focused and win more business.