We recently surveyed nearly 800 sales managers and reps to better understand what they need to succeed in 2018. One of the top needs for winning more deals is better-understanding buyer behavior.
As you begin planning for 2018, we recommend conducting regular win-loss interviews with buyers.
Many buyers go through a rigorous sourcing exercise to identify potential vendors. In the process, they become an incredible source of market and competitive insight into your strengths and weaknesses, and what really differentiates you from your competition.
Too few organizations ask buyers why they really chose you (or not). Product managers will do this but focus too heavily on product features and price. And, they seldom share information with sales and marketing teams to improve win rates. In addition to product preferences and price, ask the buyer about their overall experience buying from you. Learn how they realized a need and went through their buying process. Often there is something beyond the product and price that tipped the decision in your favor. Donâ€™t make assumptions!