4 Keys to Hitting Your Sales Goals in 2020
December 3, 2019
Editor's Note: This guest post was contributed by Mike Schultz, President of RAIN Group.
With 2020 around the corner, it’s time to begin thinking about and planning for your sales success in the year ahead.
Buying is changing.
With technology, buyers have a wealth of information and an endless number of options at their fingertips. They are well-educated and know more about you, your company and solutions, and your competitors. They’re also more distracted than ever.
While some sellers are struggling with these changing buyer dynamics, others are consistently beating their sales goals and experiencing tremendous success.
Here are four keys, backed by data from the RAIN Group Center for Sales Research, you can follow to join their ranks.
1. Drive Value
Everyone says they focus on value, but few sellers truly drive value. Only 42 percent of buyers find value in meetings with sellers. To drive value, you need to have a plan to create value. You need to develop a value case for each sale by answering four key questions:
- Why act? Why is this important to the buyer?
- Why now? What is the urgency around addressing this issue?
- Why us? Why should the buyer choose you and your company above all other options?
- Why trust? Why should they believe you will achieve the outcomes and results you say you will?
While the answers to these questions may be similar across buyers, they will never be identical. Each buyer has their unique circumstances and reasons for buying. You’ll discover the value case for each buyer through your conversations and it’s up to you to then present a compelling value case for the buyer in each sale.
Few sellers do this and do it well. This is a huge opportunity for the sellers who are willing to focus on driving value.
2. Grow Your Accounts
The No. 1 top sales priority for the year is increasing business with existing accounts. Yet only 38 percent of companies agree they are effective at growing their accounts.
Selling to existing accounts is one of the biggest untapped opportunities for sales growth. It’s much easier to sell to clients you’ve already worked with than it is to sell to new ones. Top sellers focus on building relationships, increasing loyalty, and selling more to current customers as a growth strategy.
Here are 6 tips to sell more to existing accounts.
3. Bring New Ideas to Buyers
According to buyers, the No. 1 difference between sellers who win sales and those who come in second place, is that the sales winners educate buyers with new ideas and perspectives.
Buyers want your ideas, they’re looking for your insight.
Most sales are won and lost based on one key factor: You. You hold the keys to your sales success. If you can position yourself as not just someone representing a company with products and services, but also a valuable advisor who provides new insight, you will win more often.
New ideas also help you drive value (No. 1) and generate opportunities with your existing accounts (No. 2).
4. Be Proactive
Consider these illuminating stats:
- 75 percent of B2B purchases are proactive, made as a result of strategic opportunities, rather than required purchases.
- 70 percent of B2B buyers are open to switching to a different provider.
- 66 percent of buyers want to talk to sellers when they’re looking for new ideas to improve their business.
Opportunities are out there. Buyers are making strategic investments. They’re open to switching providers, and they want to talk to sellers who have new ideas to help them improve their business.
But buyer conversations are not going to fall into your lap. You must be proactive in your sales efforts to generate these conversations and then provide value in them.
On the flip side, your clients are also open to entertaining competitive conversations. Be sure you’re working with your accounts closely and providing maximum value, or your competitors will.
As 2019 winds down, take the time to prepare for 2020 and plan how you will grow your accounts, bring new ideas to your buyers, and remain proactive in your outreach to prospects and clients, all while driving value for your buyers.
With highly educated and distracted buyers, these factors will help you beat your sales goals and ultimately achieve the greatest success.