The B2B buying environment has drastically changed over the past few years. Buyers have been bypassing sales reps and turning to self-service digital research from a variety of business sources like blogs, webinars, podcasts and peer-review sites. A study from McKinsey backs this up with findings that 70%-80% of today’s prospects prefer remote interaction or digital self-service. This makes it increasingly difficult for sellers to engage with these overwhelmed buyers. What do your sellers need to adapt to new situations in this digital buyer environment to accelerate and close deals?
Engaging with the Digital Buyer
Although the buying cycle has changed, prospects still have the same types of problems they are trying to solve. Sellers need to find prospects that have a business pain that’s extensive enough to invest the time and resources to fix it. And reps need to prove that their solution is the right one – and the one that will give buyers a good return on their investment!
But with the current state of self-servicing buyers, it’s a challenge to reach these buyers and to understand where they are in their buying journey. Every connection a seller makes with a buyer needs to do a few things:
- Meet the buyer where they are
- Deliver value via relevant content
- Build trust and serve as more an advisor than a salesperson
- Lead the buyer to a decision
A recent Gartner Digital Buying survey, 60% of the buyers are considered ‘digital buyers’ as opposed to traditional buyers. Their preference is to spend more time doing their own research rather than working with a seller. They are typically advanced in their buying process when they finally feel the need to connect with a seller – and often overwhelmed and frustrated with conflicting information.
The Role of the Seller
Good times to be in sales, right? It’s the job of the seller to help buyers with understanding the process, to encourage and to inform them of failure paths, and lastly to celebrate successes. The goal here is not to ‘sell your product’ but to solve the buyer’s business problem. And it doesn’t have to be hard. With the right tools and technology, reps can be confident and equipped to meet these buyers where they are.
Gartner boils down what this means. Their research and survey results suggest sellers need to create highly personalized digital experiences where they mediate the buying process on behalf of the buyer. The content and resources shared by sellers should enhance and clarify the buyer’s research into meaningful information to be shared with other stakeholders at the buying table. Ultimately, the seller helps to build the confidence of the buyer so they’re comfortable making a purchase decision.
What does this look like in reality? You could schedule a demo here to see it real-time but we’ll take you through a scenario: Your rep is preparing for a meeting with a prospect. You’ve equipped your seller with a platform that has access to content and other resources that are easily found and consumed. The seller has done their research and has a good idea of what information would best serve their prospect. They pull that information together in a Collection, or a ‘digital briefcase’ specifically for this buyer. Content in the Collection could be anything from a convenient ROI tool for problem assessment to slide presentations to show buyers ‘the art of the possible’ to analyst brochures – everything at the ready to build trust, add value and engage that buyer. With the click of a button, all of this can be shared to create an immersive digital experience – or what we call a Digital Sales Room. This is a secure, virtual microsite where B2B sellers can collaborate with their buyers and move them along in the buying journey.
Buyers love it because everything they need access to is located in a central space that’s easily accessible and shareable. They can choose to add to the Digital Sales Room and engage with their seller at their convenience. As the buyers become more informed, confidence is built ultimately leading to a purchase decision. Sellers get benefits too. They’re able to see when the prospect accesses or shares any information in the Digital Sales Room providing insightful buyer intent information along the way.
Modus is the simplified yet sophisticated platform that delivers this meaningful engagement between buyers and sellers. Digital Sales Rooms are leading the way for today’s modern buyers. You don’t want to miss out, do you?