The Transition from Traditional Sales 1.0 to Modern Sales 2.0 in B2B.
In every organization, sales and business development are important functions. Although we have a love/hate relationship with this department, it is important to point out that without it, revenue wouldn’t grow and without revenue, no enterprise can grow.
The Good Old Sales Approach
Back in the old days, we used to practice a standard approach to selling. We can call it Sales 1.0, better known as the traditional method for selling. This method was adopted by every organization, regardless of what they sold. The approach was more seller-centric with push-based sales methodologies.
Sales proficiency was the key to information gathering. There was little bias in the information that you distributed to a prospective customer, so we could say that it was fair. This objective was about showing how you are better than your competitors by highlighting the features and benefits of the product or service. There was a missed opportunity to show prospects that your product or service can solve their problems. This version of Sales 1.0 focused on selling rather than solving a problem and no attempt was made to define why.
A major area of expenditure in the business-to-business territory was technology. On the customer side, technology sales were completed through a single point of contact. The Chief Technology Officer or Chief Information Officer, or Head of IT was the person who made the major decisions, held the budget, acted as an influencer, and was the champion. As a result, they contributed greatly to securing the right technology to ensure the growth of the company.
Technology was either sold as a hardware product or a software product that was licensed as a perpetual license. In some cases, as a combined solution that included hardware and software. The solution-based business was then a new concept, and many companies began to offer this service.
The Transition Phases
With the web, mobile, and social media evolving, all dynamics changed. The flow of information was suddenly unhindered. All business leaders started discussing in their closed groups and we’re collaborating because of mobile and social technology being adopted at such a quick rate. Even though they were competitors, CXOs can speak to their counterparts. Business-to-business and the way business is conducted have changed as well. A key differentiator was a focus on the end customer of the enterprise and the customized experience.
Technology buying completely shifted toward solutions on the other hand. The evolution of Cloud-based technologies was now the new bee.
As enterprises have changed how they conduct business, the role of CIOs and CTOs has also changed. These executives became the enablers. The business team’s problems were now the major area to address and how to ensure every business team can add value to the business.
In comparison to a single person choosing what tech to use, this group exploded overnight. Now, the group consists of no less than 8–15 people who play a key role in finding solutions to problems as well as defining them. Besides managing the entire technology stack of the company, CIO and CTO also had to manage all stakeholders internally to ensure that every individual on their buying team had all internal questions resolved and were answered.
With such volatile expectations from the customer’s side, ensuring you are close to your customer all the time gained importance for every seller company.
The sales framework like SPANCO from Xerox or BANT from IBM or SCOTSMAN from Dermot Bradley or CHAMP from Zorian Rotenberg or MEDDIC from Jack Napoli of PTC or for that matter MEDDPICC from David Weiss plays a significant role even now, the only difference is now it has a greater meaning and magnitude.
So many paradigm shifts, which happen simultaneously or in parallel, forced every organization to change how you want to sell to your enterprise customers.
And thus, a new sales process was born. Modern selling or Sales 2.0.
The Invent of Sales 2.0 and Why
B2B buyers are smart, intelligent, objective-driven, and more of a self-help mindset.
Sales processes are changing faster than ever, regardless of whether you’re selling products or services.
In Sales 2.0, salespeople utilize Web 2.0 tools, technology, and social media to connect, engage, interact, share, and collaborate more efficiently. Change the mindset of salespeople by adopting enhanced sales behaviours, approaches, and tools.
Your customers have a new way to purchase in a digital world today, both from a B2B and B2C perspective. There are plenty of search engine resources, as well as an abundance of internet content, including videos, white papers, case studies, and reference materials. Increasingly, your prospects do their homework ahead of time, giving them a feeling of control.
The sales process moves more quickly when buyers pre-qualify your business before contacting you. These buyers are called the Modern Buyers. According to research, customers are roughly 60 to 70 per cent of the way through the sales process before engaging with the selling company.
Using Web 2.0 technology and social networking, individuals be it buyers or sellers can post comments, create blogs, articulate, readily share and exchange their opinions, as well as upload audio and video.
Information consumers need to make informed purchasing decisions has become largely agnostic regarding how they obtain it. In sales interactions, buyers will only interact with sales teams in order to obtain the knowledge they require to carry out certain tasks. This places pressure on sales teams to generate relevant and meaningful sales discussions.
Even though they interact less with sellers, they do so significantly later in the sales cycle. They are primarily not interested in being sold to. As a result, modern buyers are interested in learning about solutions to their problems, as well as things they may have overlooked in defining their requirements.
In modern selling or Sale, 2.0, new tools and strategies like Social Selling and Virtual Selling are the techniques to achieve the same goal as conventional sales: boosting sales dialogues and winning more deals.
How do jump in this wagon of Sales 2.0?
Keep the purchasing process simple and straightforward.
For the most part, customers want to be able to interact with, use, and understand your products and services without hassle. Make it easy and simple for customers to buy. Put your clients in control by providing them with all the assistance they need so that they can reduce friction and find the best solutions for their needs.
Make the customer’s purchase as valuable as possible.
Customers play an increasingly vital role in creating value within their organizations, which requires education, but also coordination of the various stakeholders and roles in their business to uncover and realize the need. The result is that sellers are discovering new ways to create value propositions, such as allowing customers to bundle and unbundle items themselves or involving partners in the process.
Sales without selling
People do not like to be sold to, so it isn’t about you; instead, it is about them. To get the information you require, you have to overcome their initial sales resistance. Here is where thought-provoking, consequential questions are helpful. You must gain the trust of your potential consumers, and to do so, you must abandon the typical sales pitch, as each buyer has an individual perspective.
Keep the conversation focused on the potential client when talking with them. It will help you gain a better understanding of the client’s perspective and what they hope to achieve. Your potential clients deserve your attention more than you do when you’re talking with them.
A true dialogue between buyers and sellers is no longer controlled by sellers.
A ‘Sales 2.0’ process is a way of thinking about how sales processes should operate in the modern world, regardless of the enterprise’s size. Businesses must collect customer data to connect and build relationships as customers go through the buying process.
Let’s wrap up
To be successful in sales, salespeople need to determine where their customers are in the decision-making process, identify their needs and expectations, and respond with content that builds trust that can result in a successful sale and last for years.
Sharing content, establishing relationships, and nurturing prospects are all possible with a modern selling strategy.
The behaviour and belief systems of people need to change in order to achieve Sales 2.0. Creating relationships with your customers well before they need you will influence them.
To gain the trust of your prospects, you have to show them that you understand them. Having this understanding will set you apart from the competition. Being willing to embrace change will surprise you.
If you want to train your salespeople, and want to discuss with me, connect with me on Linkedin.
