Monday, April 06, 2009

Are you in sync with your customer's purchasing journey?

Here is a scenario we are all too familiar with: Sales teams follow a tried and true road map yet lately sales pipeline provides few and far in between qualified opportunities. You may have a desired product or service and your research shows your marketing message is compelling. But there is still a disconnect between the leads that marketing generates and your sales closing rate. A possible reason for the disconnect might be that your sales cycle is no longer aligned with your customers’ purchasing journey. Here are some of the reasons why this may occur:

- Customers have many tools at their disposal to get information about products and services to help them make purchasing decisions. They conduct online search, study buyer’s guides, view online customer advisory boards, sign up for webinars, monitor online chat forums, look at magazine ads and read company newsletters before they even express an interest in you. It is very likely that they may have already formed an opinion about your offering before you even get a chance to speak to them. Your sales team needs to be armed with the knowledge of all the touch points the customer interacted with before they connect with the prospect.

- My 15 year old son is the internet search guru at our house. I would not dream of making a major purchase without consulting with him. Consumer trends change. Millennials are now a powerful influencer segment in variety of categories. We recently changed our car insurance provider because he found an online comparison tool that gave us a much better rate on our car insurance. You need to be aware of who the influencers are in your category and where they get their information from.

-Sales is a transaction oriented discipline. Sales reps move on to the most closeable opportunity after few attempts. However, in today’s economic conditions most purchasing decisions are very susceptible to daily fluctuations so the decisions can stall longer than you anticipated. You may have uncovered a hidden need but did not stay in touch with a prospect long enough, only to have your competition move in to close the sale because they worked diligently to build a stronger relationship with your prospect.

The good news is that demand generation programs offer an excellent opportunity to ensure that your sales efforts are in sync with your prospect’s purchasing cycle. This is possible because of the close monitoring, content relevancy and measurement that a carefully designed demand generation program offers. At every touch-point you have the opportunity to probe, measure and adjust your next steps.

Knowing your customer’s purchasing journey will help you design content, frequency and relevancy of your marketing outreach so your sales reps can successfully walk the fine line between being annoyingly persistent and providing the right amount information to help your customers decide.

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