The Hidden Benefits of Virtual Sales

By now, you probably can recite in your sleep the many benefits of selling virtually – lower costs, improved productivity, increased sales, and increased geographic reach. It makes sense: when you hold a Web seminar instead of a road show for prospecting, you reach more people in less time for less money. When you can demo your product online rather than flying to a prospect’s office, you save on travel costs and increase your efficiency. Now, a new research study from Wainhouse Research finds there are some other subtler advantages to selling in a virtual world.

Alan Greenberg, a Wainhouse senior analyst, compiled his findings in a brief called “Virtualizing Sales and Marketing: Driving Revenue, Lowering Costs . . . and More.” In the brief, he says respondents noted they could accomplish work that could not otherwise be performed, meaning a virtual sales approach enables them to get more done in less time. Others say their online message delivery is more sophisticated than their in-person delivery. Another believes the technology “enables them to better serve their customer, which raises their value, creates satisfied customers and brings in more business.” Finally, Greenberg’s research reinforced that Web-based sessions are less intimidating to customers than meeting in person, creating a low-pressure sales environment.

Of course, making the transition from a traditional sales approach to a virtual one involves much more than simply snapping your fingers and muttering a few magic words. In his brief, Greenberg shares these tips for making the transition from those who have been through it:

1. Start small. Most companies obtain a few Web conferencing licenses to understand how Web conferencing will fit into their processes and how to best incorporate it. Build on early successes, says Greenberg. And when the time comes to roll out the technology company wide, make sure every salesperson has their own license so they can access the Web conferencing technology at any time. A chief technology officer at a financial service firm noted his company looked carefully at who needed their own licenses and who did not. They quickly concluded that while some functional areas can share licenses, each sales rep needs his or her own.

2. New competition. When you meet in person with a prospect, he or she is unlikely to answer email, thumb through paperwork, or do other tasks, knowing it would be rude to so obviously divide their attention from a visitor. In a virtual world, these kinds of extraneous tasks are now your competition. Prospects figure they can tackle those tasks and you’ll never know. To retain your prospect’s attention, keep conference sessions short (no more than 30 to 45 minutes), briskly paced, engaging, and to the point, says Greenberg. Use graphics instead of text on your slides, use pointing and annotation to emphasize key points and don’t read the slides – tell the story. Finally, learn to “read” the signals that indicate when your prospect has become disengaged.

4. Must-have features. When shopping for a conferencing solution, it’s easy to become so overwhelmed by the endless numbers of solutions, providers, and options that you make the wrong decision. So here’s some guidance: In a Wainhouse study of 1,500 small businesses, users said the most important features were ease of use, ease of booking and starting a meeting, and screen performance/speed. The VP of technology at a financial services firm said when customers call him, he can right click and be online with them in two seconds – no need to log into a Web site. Finally, look for “all-you-can-eat pricing,” as Greenberg calls it that is charged on a per-seat basis so reps can use Web conferencing whenever they want without worrying about added costs.

For more information or to read the full brief, visit www.wainhouse.com