There’s been a lot of research done about how customers- especially B2B customers- buy online. The difference could mean a lot of money to your company and make your sales force’s jobs easier. The good news is it means less work for you and your sales people if you do it right.
The problem is that many companies are still locked in last century’s sales thinking. That model was: hook them early in the sales cycle and get them to commit to a demo as early as possible. This webinar, usually delivered by a Subject Matter Expert, assumed they were starting at Square One. This doesn’t fit the way they want to buy from you now. They want to meet you armed with research and get their questions answered by someone (your sales person) who can help them buy.
Not surprisingly, companies are acting much like you and I do when we shop. CFOs and Purchasers (well, actually their underpaid and overworked assistants) are spending a lot of time cruising websites and shortening their list of prospective vendors. Only when they have a pretty good idea of the features they’re looking for- not to mention the approximate price and how you compare to the competition- will they ask for a demo or to speak to a sales rep.
The implications of this are pretty profound:
- Metrics matter Take a good look at your website’s analytics. When are people visiting your site? (if it’s a lot of after hours, you’re getting shopped out).What are they looking at? How long do they stay? How many take the next step to ask for contact with your reps?
- Make sure you have something to measure If they’re not staying long, they aren’t finding what they are looking for, which is enough information to qualify you as a prospective vendor. The more information you provide (video demos, pre-recorded webinars, articles and industry research) the more they will look at you as an expert and a resource. This can only help.
- You’d better know what your customers think they know Just because they’ve clicked the “schedule a demo” button doesn’t mean that’s what they need. It’s critical that whoever they talk to next ask questions about what they have already read or seen (they don’t want to sit through redundant information) and where they are in the sales process (are you talking to the buyer who will need different information than someone doing the screening for them?). All of this means…
- The people who demo need to be (or at least think and present like) sales people Many companies use “sales engineers” or Subject Matter Experts to do the demos to customers, which is fine (obviously you need someone who knows what they’re doing, and that isn’t always the sales person of record) but their job is not solely to demonstrate functions and features. They need to ask the questions that qualify the prospect, identify where they are in the sales process and move them through the sales cycle. What are you doing to help prepare them for that role?
Does your website reflect this new buying reality? What are you doing to help customers move themselves as far along the sales cycle as possible, and what are you doing to help your SMEs and sales people bring them the rest of the way?