understanding buyer needs infographic
TRANSCRIPT
Primary Intelligence analyzed sales and product data from over 10,000 telephone- and web-based interviews since 2008 to understand how sellers’ ability to understand buyer needs impacts sales team effectiveness, including win rates, buyer satisfaction, and overall competitive advantage. Respondents included key decision makers in a wide range of departments and functional areas.
www.primary-intel.com/industry-insights/understanding-buyer-needs-snapshot/
Understanding Buyer NeedsUnderstanding Buyer Needs
Understanding buyer needs was nearly
3X as importantas the next highest sales experience influencer
(out of 9 categories)
Understanding Buyer’s Needs
Product knowledge
Responsiveness
What’s Most Important to Buyers?
Over half of sellers who win deals show buyersthey e�ectively understand their needs
How Does Understanding Buyer Needs Drive Wins?
Less than one-third of sellers who lose dealsadequately understand their buyers’ needs
31%
59%
These reps have a higher percentage of
“strong wins” (wins in which buyers
overwhelmingly chose their solution)
If you’re not focused on understanding your buyers’ needs, you’re missing the most important criteria buyers use to judge your success
How are Reps Doing?
Less than half of buyers believe sales reps e�ectively understand their needs Less than half of buyers believe sales reps e�ectively understand their needs
43%
Satisfaction rates are nearly 3X higher for those who rate higher in understanding business needs compared to buyers who rate poorly
Which Industries Struggle Most?
SoftwareSolutions
41%
HardwareSolutions
47%BusinessServices
46%
HealthcareSolutions
49%
FinancialServices
44%
Software reps have the lowest ratings of all industries, with just 41% “excellent”ratings when buyers were asked to rate sales e�ectiveness in understandingtheir needs
Sales Rep Excellence Rating
North and Latin American reps do the best job in understanding their buyers’ needs
We identi�ed how often sales reps were considered “excellent” at understanding buyer needs in each region
Reps in Asia Paci�c struggle the most to understand buyer needs
44%44%
42%42%
29%29%
16%16%
Sales reps targeting small �rms (<50 employees) are 25% more e�ective than reps selling into organizations with 100K+ employees
How to Improve• Listen hard, then ask good follow-up questions
• Develop a strategy for dealing with large buyer teams
• Customize your o�er
• Ditch the cookie cutter approach and get creative
• Show buyers you’re their long-term partner
• Get help from technical teams if your solution is highly complex
• Outreach to buyers in multiple channels, including digital
• Develop a strong online presence
• Get training—today
• Listen hard, then ask good follow-up questions
• Develop a strategy for dealing with large buyer teams
• Customize your o�er
• Ditch the cookie cutter approach and get creative
• Show buyers you’re their long-term partner
• Get help from technical teams if your solution is highly complex
• Outreach to buyers in multiple channels, including digital
• Develop a strong online presence
• Get training—today
To learn more and purchase the Understand Buyers Needs report, visit
www.primary-intel.com/industry-insights/understanding-buyer-needs-snapshot/
Better Intelligence. Better Strategy. Better Win Rate.
Industry InsightsPowered by