LinkedIn released their State of Sales 2021 report with some info that serves as a reminder or a wake-up call. You can get the free report here.
This quote in the report stood out:
“Top-performing salespeople spend far more of their time researching their industry, learning about their competitors, …than they do pounding phones, sending emails, and prospecting.”
– Sahil Mansuri, CEO, Bravado, from LinkedIn State of Sales 2021
Many people jump right into calling and mass emailing prospects without a deep understanding of the target customer’s business, industry, and competition. Potential customers hate that. The people who close the most deals do the opposite.
[If you have a sales team, this company provides exceptional resources to build their industry expertise!]
Things your customers wish you knew
A lack of understanding of a customer’s company and needs ranks as the second biggest deal killer. The list is a good reminder for any sales or marketing pro, especially if you wear both hats!
Source: LinkedIn State of Sales 2021 [the United States and Canada Edition]
All six are simple to fix but not always easy to let go of forever. When I conduct marketing and sales evaluations for clients who want to jump-start stalled sales, I often find some of these deal killers. It is surprising to see how hard they fight against remedying them – even though they are proven deal killers!
“That’s the way we have always done it.”
This statement is not only a deal-killer; it is a business killer. Change is hard even when survival depends on it. There’s comfort in routine. It feels safer to hold on to what you know – even if it’s not serving you anymore.
Sometimes we’re forced to make changes, which stinks! [It feels better when you make the decision, right?] COVID forced every business to step out of the comfort zone and make changes to survive.
Misery Comfort loves Company
During COVID restrictions, I reviewed my marketing and sales plan every quarter with a colleague. Often, it’s easier for someone else to spot areas that need to be fine-tuned. It’s also easier to follow through on the changes when you have accountability and support.
Reviewing my business and marketing plan at least twice a year is one of the pandemic habits I’m hanging on to as we emerge from the restrictions. This article and free checklist are an excellent place to start if you haven’t done one in a while: Conduct a Mid-Year Marketing Health Check.
If you want a second opinion on your marketing health, contact me! I can conduct the check-up for you and provide actionable recommendations.