{"id":1031682,"date":"2023-02-02T23:59:00","date_gmt":"2023-02-03T07:59:00","guid":{"rendered":"https:\/\/www.inflexion-point.com\/blog\/2-things-we-always-need-to-know-about-every-sales-opportunity"},"modified":"2023-02-03T00:00:57","modified_gmt":"2023-02-03T08:00:57","slug":"2-things-we-always-need-to-know-about-every-sales-opportunity","status":"publish","type":"post","link":"https:\/\/customerthink.com\/2-things-we-always-need-to-know-about-every-sales-opportunity\/","title":{"rendered":"2 things we always need to know about every sales opportunity"},"content":{"rendered":"
Every competent salesperson recognizes the importance of accurately qualifying every sales opportunity.<\/span><\/p> But I want to suggest two other things that we also always need to know about every sales opportunity - and they relate to the nature of our prospective customer\u2019s buying journey.<\/span><\/p>\r\n These two factors are:<\/span><\/p>\r\n These two factors have very significant implications for our customer\u2019s buying decision journey, for our sales strategy and process, and for our chances of winning their business - and I\u2019m going to spend the rest of this article exploring the ramifications of these factors.<\/span><\/p>\r\n This post is longer than usual and was originally published on LinkedIn<\/a>. I\u2019ll also be covering the material in my webinar with the Institute of Sales Professionals on the 7th <\/sup>February - you can sign up here<\/a>...<\/span><\/p>\r\n Taken together, these factors define a classic 2x2 matrix.<\/span><\/p>\r\n <\/p>\r\n Let\u2019s look at each of these combinations in turn, starting with the simplest:<\/span><\/p>\r\n In this first scenario - which I refer to as \u201cpainting by numbers\u201d, the customer is bound to buy something and is following a well-established and familiar structured procurement process - they simply need to decide what to buy, from who, at what price and when.<\/span><\/p>\r\n <\/span><\/p>\r\n Typical \u201cpainting by numbers\u201d scenarios include:<\/span><\/p>\r\n A simple consumer example of this sort of scenario would be a driver noticing that their petrol is running low and looking out for a filling station.<\/span><\/p>\r\n Common indicators and implications of a \u201cpainting by numbers\u201d scenario include<\/span><\/p>\r\n Sales Strategies - Painting by Numbers<\/p>\r\n If we want to avoid competing on price, and in particular if we are trying to dislodge an incumbent, we need to find meaningful ways to differentiate both our organization and our offerings and establish urgency - i.e., focusing on \u201cwhy us\u201d and \u201cwhy now\u201d<\/span><\/p>\r\n What we need to know and do:<\/span><\/p>\r\n Assuming that evidence exists to prove both of the above facts, our strategy should include:<\/span><\/p>\r\n In this second scenario - which I call \u201cmarching into the unknown\u201d - the customer may or may not end up buying something - but they nevertheless appear to be following what they regard as a well-established and familiar structured procurement process.<\/span><\/p>\r\n <\/span><\/p>\r\n Typical \u201cmarching into the unknown\u201d scenarios include:<\/span><\/p>\r\n A simple consumer example of this might be \u201cretail therapy\u201d - going out on a shopping trip without actually needing to buy anything.<\/span><\/p>\r\n Common indicators and implications of a \u201cmarching into the unknown\u201d scenario include:<\/span><\/p>\r\n Sales Strategies - Marching into the Unknown<\/p>\r\n Our emphasis needs to be on why the customer needs to change and why they need to act now as well as why the customer should buy from us.<\/span><\/p>\r\n What we need to know and do:<\/span><\/p>\r\n Plus, as for inevitable + familiar projects - establish the strongest possible case for \u201cwhy you\u201d<\/span><\/span><\/p>\r\n The third scenario - which I call \u201corienteering\u201d, the customer is bound to buy something - but because the decision process is unfamiliar, they may need help in determining how to buy, who to buy from, and when to act.<\/span><\/p>\r\n <\/span><\/p>\r\n Typical \u201corienteering\u201d scenarios include:<\/span><\/p>\r\n A simple consumer example of this might be an about-to-be-married couple looking for a wedding venue.<\/span><\/p>\r\n Common indicators and implications of an \u201corienteering\u201d scenario include:<\/span><\/p>\r\n Sales Strategies - Orienteering<\/p>\r\n As well as answering why us, we need to address why now and work with the customer to become a trusted adviser - and to influence their requirements, buying criteria and decision process.<\/span><\/p>\r\n What we need to know and do:<\/span><\/p>\r\n Finally, the most challenging - but far from uncommon - scenario, which I refer to as \u201crunning in the fog\u201d (a phrase originally introduced to me by Professor Eddie Obeng of Pentacle, the World\u2019s first Virtual Business School): The customer isn\u2019t completely sure whether they need to buy or how to decide - everything in their buying decision journey is open to influence.<\/span><\/p>\r\n <\/span><\/p>\r\n Typical \u201crunning in the fog\u201d scenarios include:<\/span><\/p>\r\n These sorts of scenarios are often driven by a sense of restlessness with the current situation without any sense of what a better future might look like or how to get there. Some observers might conclude that the whole Brexit debacle is a good example.<\/span><\/p>\r\n Typical indicators and implications of a \u201crunning in the fog\u201d scenario include:<\/span><\/p>\r\n Sales Strategies - Running in the Fog<\/p>\r\n Our customer is asking themselves: why change, why you, why now and why trust? As well as why change, we need to address why us and now and work with the customer to establish and influence their buying criteria and decision process and win their trust<\/span><\/p>\r\n What we need to know and do:<\/span><\/p>\r\n\r\n
Factor #1: Is this an inevitable or a discretionary purchase?<\/span><\/h4>\r\n
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Factor #2: Are they embarked on a familiar or unfamiliar buying process?<\/span><\/h4>\r\n
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Scenario 1: \u201cPainting by Numbers\u201d [Inevitable Purchase + Familiar Process]<\/span><\/h4>\r\n
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Scenario 2: \u201cMarching into the Unknown\u201d [Discretionary Purchase + Familiar Buying Process]<\/span><\/h4>\r\n
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Scenario 3: \u201cOrienteering\u201d [Inevitable Purchase + Unfamiliar Buying Process]<\/span><\/h4>\r\n
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Scenario 4: Running in the Fog [Discretionary Purchase + Unfamiliar Buying Process]<\/span><\/h4>\r\n
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