Today’s buyers have information readily available making them independent, informed, and demanding. They now look to salespeople as sources of insight, rather than information. Highspot’s director of marketing, Shawnna Sumaoang, provides a first look at what you will learn at our webcast 26 July, Winning Over the Modern Buyer.
How do you define the modern buyer, and what are the main characteristics of the modern buyer? What led to the transformation to today’s modern buyer?
We know the modern buyer well — it’s you, its me. Think about the way that you shop today. Chances are you did research to understand the product, you probably compared reviews from actual users of the product, and then you went and looked at competitive products to ensure you were selecting the best option for your needs — and chances are you did most, if not all, of it online. That B2C buying behavior has quickly carried over to the world of B2B buying.
Like consumer buyers, business buyers don’t want to be “sold to” by traditional sellers. Instead, they prefer to buy from sellers who provide added value and insight and who help guide them through their evaluation and purchase decision process.
What are the decision criteria that drives the modern buyer’s purchase decisions. How has this changed over time?
We’ve found the modern buyer bases purchasing decisions heavily on the following:
- Timeliness: 76% of buyers factor in a timely response from sellers when deciding which product to purchase.
- Validation: 30% of buyers speak with their peers when they are ready to buy.
- Consensus: On average, 6.8 people must formally sign off on a business purchase, and so sellers must address multiple buyer concerns across a team. (Source)
- Value: 74% of buyers choose the product with the first seller to add value and insight.
This data shows the critical importance of equipping and enabling sellers so they’re ready to make the most of their time with buyers.
Why must organizations align their entire go-to-market team in order to meet the modern buyer in their buyer’s journey?
Aligning the entire go-to-market team is the most critical component to successfully engaging modern buyers. Again, think about experiences you may have encountered while shopping. Have you ever come across marketing offers that sounds too good to be true, only to find out it is too good to be true because the product didn’t live up to the high expectations set by the offer? Have you ever spent time explaining your needs to a seller, only to have to repeat it all over again when passed along to customer service? Buyers weigh in these experiences along the buying journey, from marketing to sales to customer service. The experience must be seamless and succinct, or it leaves the buyer frustrated and unlikely to buy from your business again. Worse, a bad experience may also leave the buyer unlikely to recommend or refer your business to other buyers.
How can an effective sales enablement platform help alleviate the challenges associated with the modern buyer? Will this differentiate organizations going forward?
An effective sales enablement platform provides marketing teams with the ability to create guided seller experiences by mapping content to important attributes such as buyer persona and sales stage. Sellers can then quickly find the right content they need for each stage of their buyer’s journey. Marketing teams can also view analytics to track the content used by sales teams, as well as the content that best engages buyers. Sales enablement ensures that both marketing, sales, and customer service stay aligned with the buyer’s journey while using the most valuable and insightful content.
Sales enablement platforms help the entire go-to-market team in three major areas:
- Prepare sellers for any conversation by providing dynamic sales guides and readiness materials.
- Engage buyers with effective content by making it easy for sales reps to find what they need when they need it.
- Analyze and optimize best practices to continue delivering the most effective content.