Today in this post we will demonstrate how to understand how executives make purchase decisions. Failure to understand exactly how executive decision makers inside your target accounts buy will result in poor win rates, long sales cycles, and you missing your number. To follow along, download our 10th annual workbook, How to Make Your Number in 2017. Turn to the buyer segmentation phase on pages 274 – 276 of the PDF.
Our expert guest today is Gary Ackerman, the SVP Head of Global Sales at Pepperjam. Pepperjam is a performance marketing company focused on helping global advertisers drive e-commerce sales. During the interview, Gary will demonstrate how to understand how executives make purchase decisions by using Pepperjam as an example.
Watch as Gary describes the six-step buyer process that Pepperjam has identified for its buyers. Gary describes in detail how Pepperjam identified the steps and how the sales force leverages the insights to hit revenue targets. The steps are all buyer steps, they are not sales steps. For example, ‘not in the market’ is clearly not a sales step and Gary has this identified as the starting point of his sales process.
Gary also shares how each buyer is unique and navigates the buying process differently. Watch as Gary describes how to design a buyer process that the sales team can use to fluidly understand where the buyer while keeping pace with the buyer. The process clearly defines the journey including what the buyer goes through during purchase and implementation.
For members of the audience implementing customer success efforts, this demonstration by Gary is a must watch to understand how marketing, sales and the customer success team can align with the buyer through a buyer-centered process.
Why is this topic important? Executives are changing the way they make purchase decisions. Some are altering their evaluation criteria. Others are involving more people in the decision-making process. Some are changing their preferences for how they want to engage with your sales team. Decentralized decision-making is becoming centralized, and centralized decisions are now being made regionally. And on and on. Failure to exactly understand how executives are buying will prevent you from growing revenue.
In the first segment of the program Gary provides an overview of the profile of his buyers and describes the buyer’s journey. We discuss in detail how Gary figured this out. The second segment breaks down the reasons why executive decision makers don’t buy. The reasons are identified and the evaluation criteria used by these executives is discussed to understand how they decide to buy from you or someone else. In the final segment of the show Gary answers the following questions about Buyer behavior:
- Does the customer’s buying process vary by market segment, customer profile, the product you are selling, and the sales channel you are using?
- Which sales channel (i.e. face to face, web, phone, etc.) does your customer prefer to buy through and how did you determine that?
- Have you validated your value proposition with the executive decision makers and if so, how?
- What skills/competencies does your executive decision makers want your sales team to have, and how was this determined?
- Is your sales team best-in-class in these areas, and how did you find out?
Failure to exactly understand how executives are buying will prevent you from growing revenue. Let us know if you need a hand. Consider a workshop with your team at The Studio, SBI’s multimillion dollar, one-of-a-kind, state-of-the-art executive briefing center located in Dallas, Texas. A visit to The Studio increases the probability of making your number because the sessions are built on the proven strength and stability of SBI, the industry leader in B2B sales and marketing.