Do You Have The Power of Information?

In 2020, I co-authored the White Paper “The Evolution of Sales: Adapt to Thrive” with Mark Savinson. It was a soft wake-up call for salespeople to change how they sell to survive. We played with the word “survive” and changed it to “thrive”. Many took that warning as the opportunity to look in the mirror and ask themselves how valuable they still are in customer meetings. How often are they called back for a second meeting? And how was that affecting their closing ratios?

Taking advantage of information

Research companies like Gartner and Forrester figured out why salespeople were not meeting their sales targets at an increasing speed. It wasn’t the selling skills that caused the below-average closing rates. Also, there wasn’t anything wrong with the solutions they sold. Instead, the main reason for salespeople’s decreasing performances was simply because the buyers had moved on. They used the accessibility and transparency of information, but the sellers did not. Buyers felt more confident deciding what to buy or change to – without interacting with the salesperson. In B2C, this was even more evidential. I am sure you can relate to that. We buy nearly every household item online simply because all the information is available. The description and advantages of products are more detailed than a salesperson would ever know.

The power of information lies with the buyer.

The identified risk was that the same trend would extend to B2B and that risk is now a reality. Why would buyers still need salespeople if they already know what they want and comparing products, services, and solutions is as easy as a walk in the park? You can make your decisions there while enjoying a cappuccino. The buyer is unmerciful; it doesn’t matter if you are a veteran salesperson or a new starter; it is not up to us. The buyer is in charge, and if they have not yet, they will soon let you jump around spreadsheets and procurement battles because buyers know what they want and are determined to get it for the best price.

Companies have always adapted to consumer changes, trends, and preferences. That’s why we use credit and digital debit cards instead of traveller’s checks when holidaying, why we don’t carry mobile phones but smartphones, and why we will soon all drive electric cars. That’s part of evolution and innovation. With the rise of AI changes will accelerate even more.

What if sales jobs disappear? What if that becomes the new normal?  What if buyers don’t need you anymore? In 2024, this is a brutal wake-up call.

Bring back the power of information to the Seller.

How do you do that?

Information is essential—it always has been. Selling from the Buyer’s Perspective focuses on different types of information. Ask yourself:

QUESTION	THE POWER OF YOUR INFORMATION
What knowledge do you have that is relevant to your customer’s business and would create interest?	The power of information lies in helping your customer grow their business. With your experience, you have helped other customers with similar challenges; these are stories your customers cannot access.
How do you generate your view on how to help customers grow their business?	The power of information depends on where the customer is in their buying cycle. For example, you must give them a unique perspective on their business if they are in Service in Place (with your competitors). These views come mainly from independent 3rd-party research companies like Gartner, Forrester, Accenture, and Deloitte, to name a few. They survey the market and industry and conclude what great business growth ideas are. They recommend that companies study this research and take action. You are helping them to be aware and provide context on why they should change.
Aren’t your customers aware of what is trending in their industry or market insights?	Yes, they may be. But they rarely make the connection to solution criteria needed and what needs to change explicitly to capitalize on these trends., They also do not make the connection to your solutions and also not to what worked well for other customers in similar situations. That’s the power of your information.
Why do customers not take action and capitalize on trends quickly?	To keep up with information in this ever-changing world, you must use AI to your advantage. Prepare for your meeting to learn more about the customer’s situation and challenges. The power of information lies in making sense of trends, risks, and opportunities for your customers. This is the essence of a Trusted Advisor.
Have you leveraged AI to become faster, smarter and sell more?	To keep up with information in this ever-changing world, you need to use AI to your advantage. Prepare for your meeting to learn more about the customer’s situation and challenges. The power of information lies in making sense of trends, risks, and opportunities for your customers. This is the essence of a Trusted Advisor.

Welcome to the new way of selling. You better jump on board with the sales transformation.

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