Welcome to Win Rate Wednesday
Hi Friends,
Welcome to the first edition of my new newsletter, Win Rate Wednesday.
It has always been my personal mission to help sellers increase their sales effectiveness in order to improve their win rates. This newsletter is about making that happen.?
And it goes hand in hand with my brand new podcast, The Win Rate Podcast .
Each week this newsletter will include the inside scoop about this week’s podcast episode as well as a weekly dose of Win Rate Words of Wisdom.?
The Win Rate Podcast
The second episode of The Win Rate Podcast with Andy Paul is out today!
My guests on today’s episode are Leslie Venetz , Cian Mcloughlin and Amy Hrehovcik . You’re in for a fascinating conversation as we dive deep into the research (from Cian's consulting firm) that found the most important factors that truly influence the decisions of your buyers.
Including the two slides from that research that always leave sellers speechless.
It’s now available on Apple, Spotify and wherever you listen to podcasts.
Win Rate Words of Wisdom
Let’s cut to the chase.
Here’s why so many sellers struggle with their win rates.
Their actions are out of alignment with their buyers in the most fundamental way possible.
Sellers are trying to sell their product.
Buyers are choosing a vendor to work with.
It’s hard to win in sales if you think you’re doing one thing (selling a product) and the buyer is doing something different (choosing a vendor.)
Gartner released the results of a study a few weeks ago.
You probably saw a chart from the study here on LinkedIn.
It listed the nine most important factors that influence a buyer’s choice of vendor.
I’ve showed this chart to a lot of sellers and sales leaders since then.?
I ask them: ‘What’s missing from this list?’
It takes just a few seconds for people to see it.?
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No Product. No Price.
That’s right.
Product and Price are NOT on the list of the most important factors influencing the buyer’s choice of vendor.
Six of the nine most important factors influencing the choice of vendor are focused on the buyer’s experience with the seller.?
It’s not that product and price are unimportant to buyers. They are.
It’s just that having a competitive product at a competitive price is table stakes.
It’s just a box to check that gains you entry into the game.
They’re not how you win.
Winning is about you.?
As the Gartner data shows, the winning edge boils down to how the buyer experiences you.
There are simple things you can do to create a superior buying experience:
1. Prepare to create a good first impression.?
2. Ditch the pitch. Focus on the buyer first.
3. Be interested to become interesting.
4. Be curious and ask questions you don't know the answers to.
5. Listen to? understand, not to respond.
6. Serve. Don't sell.
Talk to you next week!
Andy
Showing Sales Professionals and Leaders How to Leverage Digital Influence to Create More and Better Opportunities - Sales Hall of Fame Inductee, Speaker, & Author
1 年Great to see this initiative, Andy. In the end, it's about getting back to the core interpersonal power of the selling relationship. Love the six ideas at the end. If sellers just did these, they wouldn't have to listen to the podcast (but I have a feeling that we'll be listening anyways). ;-) 1. Prepare to create a good first impression.? 2. Ditch the pitch. Focus on the buyer first. 3. Be interested to become interesting. 4. Be curious and ask questions you don't know the answers to. 5. Listen to?understand, not to respond. 6. Serve. Don't sell.
Asset Information Management / Digital Operations for Energy, Industrial Manufacturing, Mining, and Utilities.
1 年We should drop the 'win / winning' from the sales lexicon. It implies for every 'winner' there's a loser, whether that's the client or a competitor. It's a bit old school don'tchafink?
Accelerating Your Revenue Performance with the ValueSelling Framework
1 年Great insight Andy. So many reps are ready to "pitch slap" that they forget to diagnose before they prescribe. Product-led sales cycles are annoying to most buyers!
Creative Writer, Patriot of Justice for all mankind, an African UN Youth SDGs Global Peace Campaign Advocacy through the power of Articles, Peace Quotes and Peace Songs. Works Voluntarily for UN Observers and UNV Online.
1 年I like your creative concept ????
LinkedIn Top Voice | INC 500 Winner | Founders: Spending too much time in sales? Feeling Founder overload? I can fix that without breaking the bank. I have been where you are now. Book an introductory call.
1 年This one is my favorite, Andy Paul: 3. Be interested to become interesting. I think it was Zig who used to say, Like what they have and they'll like what you have. Good luck on the newsletter.