Published25. Sep. 2018
3 Biggest Challenges in Sales
From lead acquisitions to closing deals, where is the loophole during your sales cycles?
Quality lead generation is considered as the top challenge among the solution provider organizations across Europe and South-East Asia. Recognizing customers’ investment priorities is not easy even in the digital era of constant data collection.
As the availability of information has led to very self-directed buying behavior, buyers do not see the need to share their information. They contact the carefully selected vendors when they are already far in their buying process. Moreover, even if qualified leads are successfully being generated, reaching the buyer is yet another obstacle.
The organizational changes and decentralization of purchasing decision-making further complicate the sales process. The respondents found this as one of the most difficult roadblocks in selling. Where does the power of decision-making lie in the organization? Who is the right person to contact? What are, overall, the factors influencing the purchasing procedure? The paradox of constant increase of information available for buyers against the fragmented customer data for seller makes the customer more powerful in the equation.
Generating and Reaching Qualified Leads
In most organizations, lead acquisition falls under the marketing roof and not all leads are created equally. Keep in mind that leads coming from the top and middle of the funnel require a long nurturing cycle before they are ready to speak to a sales rep. So the effectiveness of driving sales leads largely depends on the nurture strategy designed by the marketing department. What matters is how sales handle less-qualified and highly-qualified leads provided by marketing. This involves aggressive nurturing email campaigns, featuring engaging stories that are relevant to their needs. In correlation with the targeted sales cycle, it’s important to create a value-oriented handoff that will then be assigned to a salesperson.
Identifying Key Influencers
The lack of industry knowledge often hinders sales to understand the drivers of decision making within an organization, let alone tailoring the message to the right person at the right time. A typical sales rep would rely on a defined sales process, which is usually strategized for the ultimate decision makers. Meanwhile, they miss the vital influencers and end up in a long sales cycle with indeterminate outcomes. Long before getting hold of the highest level executives, sales must unmask the key personnel involving in the process at the initial stage.
Think of this process as finding the right person who understands the product that being pitched to them at a practical level, who is likely to be looking out for a new partner vendor. By pursuing this person, sales essentially create a compelling case to engage the decision-makers along the process more efficiently.
Understanding the Client’s Investment Needs
The holy grail of a sales pitch is having the answer for the right client’s question. It makes it easier for sales to match the product with the potential customer’s pain point, removing the guessing game out of the sales cycles. With this information, the marketing team can also create more relevant lead magnets to capture the potential customers’ interest and generate more qualified leads.
While it is important to engage with the right decision makers, it is also crucial to understand the overall strategy and focus areas of their investment needs. To solve this challenge, our project managers have compiled a comprehensive portfolio for every industry that we cover.