So You Think You Can Create Insight?

Have you ever tried to ski or snowboard without taking a lesson? If so, it probably did not end well for you. A similar phenomenon plays out every day, as salespeople attempt to navigate the slippery slopes of an environment in which buyers are suddenly more sophisticated and highly educated. According to a CEB study, fifty-seven percent of the buying done today is completed before a sales rep is even involved. The Social Buying Study by IDC has shown that eighty-four percent of C-level/VP-level buyers now use social media to research vendors. To top it off, SAVO reports that 74 percent of buyers choose the sales rep who was first to add value and insight. So sales reps must be highly responsive, connected, and insightful. Many salespeople haven’t been equipped to perform in this dizzying environment.

Actually, a better analogy to describe selling today is a sudden switch from downhill skis to a snowboard to get down the mountain. The goal is the same, the playing field is the same, but the changes in technology and equipment require techniques that are wildly different. Salespeople must adapt and learn the new techniques – or risk a major crash.

The risks associated with not evolving your sales technique are many. In complex sales situations, those selling in a purely consultative way could lose the business if competitors come in and sell in a strategic way. They may also be unable to uncover opportunities beyond those directly in front of them.

Most sales professionals realize that they must provide meaningful value and insight. Determining how to do it presents the struggle.

In fact, SiriusDecisions PMM survey has shown that the number one revenue inhibitor in complex business-to-business (B2B) sales environments is the average salesperson’s inability to communicate value. Salespeople need to help buyers learn and challenge them to think more strategically.

To help their salespeople succeed, some organizations train them on how to bring insight, but bringing insight is not the problem; most folks with a few firing synapses and access to Google can speculate on the challenges facing a buyer’s business and propose a solution.

Other organizations task their marketing group with creating insight that the sales team can take to buyers, but if salespeople don’t know how to have a conversation or use insight to stimulate new thinking, the value of the research alone is quite limited. Of course, the value is extremely limited in dynamic industries, where the insight is obsolete by the time the ink is dry.

Furthermore, buyers today are extremely sophisticated and well informed. If done incorrectly, leading with your insight can feel off-putting and aggressive. Buyers have developed a healthy skepticism of salespeople’s return-on-investment projections.
It’s not about just bringing insight to the buyer.

The real key to selling today is to create meaningful, actionable insight with buyers. The challenge is that most salespeople don’t know how to generate that dialogue. The opportunity lies in teaching salespeople the skills and process for having a different conversation.

Insight Is a Journey, Not a Moment in Time

Here’s the good news: salespeople do not have to come up with the insight by themselves. In fact, they shouldn’t.

The salesperson’s job is to help the buyer and themselves move through the three phases that generate meaningful insight: preparation, deeper dialogue, and incubation – an iterative cycle.

Preparation – To nail this important first step, remember the acronym PREP:

Prepare – Gather client/prospect knowledge from multiple sources.

Reflect – Review and analyze client/prospect information.

Evaluate – Draft questions that will evoke a dialogue about the client’s strategic opportunities.

Point of View – Identify strengths and areas of opportunity buyers should be aware of to seize the strategic window of opportunity. Create your point of view based on their strengths and opportunities.

To co-create insight with the buyer, not only must you be prepared for the first meeting but so must the buyer! Email your questions beforehand to ensure that the buyer is prepared for the call. This also qualifies the buyer; it helps you make sure you’re speaking to the right person.

Deeper Dialogue – This is the sales call. Start with high-level, thought-provoking questions to ensure that the conversation stays at the strategic level. At this stage, both the buyer and salesperson share perspectives on the strategic questions and explore strengths and weaknesses. The salesperson often must provide a reality check and ask the tough questions to help show that the status quo is not okay. The buyer needs to act.

Incubation – At this point, it is critical to allow each party to reflect on the conversation. Invariably, new ideas are inspired. Incubation is something that can happen before, during, or after a meeting to allow other dots to be connected.

Follow this iterative process to allow insight to develop. This way, the salesperson is not communicating value to the buyer, but the value results from the communication. When the buyers are involved in creating solutions, they are much more likely to act and accelerate the sales cycle, and you are far more likely to avoid the crashes inherent in the wild new B2B sales environment.