MAIN INSIGHT 51
Herve Bavazzano
REGIONAL SALES DIRECTOR
How much time should sales and marketing teams invest in researching new technologies?
Technology is developing incredibly quickly. This rapid change can be daunting for sales and marketing teams as they have to continually assess emerging technologies in order to see which ones can help them gain a competitive advantage. But it’s important not to get distracted by shiny new ways of working - simplicity is the key to success. If you can show a prospective customer that you understand exactly what they want to achieve and have the methods or tools to drive that outcome, then you have a very good chance of converting that prospect into a customer. The very best salespeople learn as much as they can about their prospects, all the way from understanding how the business operates and its annual goals through to the individual buyer’s personal motivations and KPIs that need to be achieved. So whilst technology can support this understanding and perhaps even accelerate it, this simple adage remains hugely important - know your customers.
What impact has the global pandemic had on the attitudes of businesses and consumers?
The global pandemic has had a significant impact on both businesses and consumers. For businesses, many were forced to innovate and adopt new digital technologies in order to stay connected with their customers. As a result, many businesses have now adopted more of a digital mindset even as we continue to move away from the pandemic. But it is the change in consumer attitudes that I think is most important to consider. Consumers now have a greater level of scrutiny in purchasing than ever before and want to know exactly what they are getting for their money before committing to a purchase. If a consumer cannot clearly see the ROI of the product or service they are looking to purchase, then they simply will not make the purchase.
Whilst this new consumer attitude of intense value scrutiny might seem daunting to many businesses, it can also be seen as an opportunity. Businesses need to understand the challenges of their customers on a much deeper level than before. When a business has this deep understanding, they can create content and innovate new products that are directly related to the challenges of their customers. If they can do this, it becomes much clearer for customers to see the potential ROI of their purchase and understand the positive impact that the purchase could have on their lives (whether professional or personal), therefore making them more likely to complete the purchase.
Consumers now have a greater level of scrutiny in purchasing than ever before and want to know exactly what they are getting for their money before committing to a purchase.
The concept of value (outside of financial value) is a very human one, which will be very tricky for digital technologies to comprehend and demonstrate. So as customers increasingly look for outcome based solutions, human engagement will continue to play the biggest role in B2B sales acquisitions.
Are digital technologies more important than human engagement when building B2B relationships?
The traditional vendor-customer is dead as modern customers are looking for true partners, not just a transactional exchange with their vendors. But true partners cannot be built purely in a digital environment, there needs to be human interaction and engagement for this to be achieved. Of course you need to know the pain points and needs of your customers, but it’s crucially important to demonstrate your understanding of these pain points if you want to build meaningful relationships with your customers. Alongside this, customers also want to partner with companies whose cultures align with their own. For businesses, this means being able to demonstrate the values that you hold as a company so that prospective customers can easily identify how much they resonate with those values. The concept of value (outside of financial value) is a very human one, which will be very tricky for digital technologies to comprehend and demonstrate. So as customers increasingly look for outcome based solutions, human engagement will continue to play the biggest role in B2B sales acquisitions.
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