GROWTH ASSOCIATES, LLC
719-499-3519
Why Sales as a Service?
The sales and business development process has changed and continues to change in complexity.
Control of the sales process has shifted from the vendor rep to the buyer. Traditionally, the vendor controlled the timing and flow of information to the buyer. Today, digital channels and granular search allow the buyer to research and identify information critical to problem identification, resolution and solution, independent of the vendor.
The sales process, in particular the control of information and the buying process, has changed dramatically.
The number of communication channels for buyers to acquire the information critical to decision-making have exploded. Information on industries, problems, solutions and competitors is instantly available online, in social media, LinkedIn, and review sites like TrustRadius.
75% +
of technology buyers are between 25 and 45 years old
11%
of buyers said vendor representatives were very trustworthy
85%
of buyers seriously weigh multiple options
50%
of buyers rely on reviews, especially those between 25 and 44 years old
1 in 5
buyers said the vendor they bought from was very influential in helping them choose
1 in 4
buyers relies on traditional industry research analysts
*TrustRadius, “The 2019 B2B Buying Disconnect”
INFLUENCE
The implications of these changes mean physical sellers have fewer opportunities to influence buyers directly in meetings.
According to Gartner, only 17% of a buyer’s time is spent meeting with potential suppliers and 45% of buyers time is spent researching independently.
HIRING A SALES TEAM
Hiring a sales team can burden financial resources, stress executive time, and reduce the effectiveness of management teams.
Small and medium size suppliers generally have resource limitations including time, budget, staffing, sales expertise, etc.
The following research shows the cost of hiring, supporting and replacing a sales rep who does not succeed:
Hiring a sales person costs
$100,000
Replacing a sales person costs
$110,000
6 months
Replacing an open position consumes an average of
55%
Sales people that don’t have the right skills to be successful
Many companies, especially startups and restarts, struggle to provide sales reps with the specific tools and training they need to be successful.
SALES PROCESS
In light of these facts, the critical question for small and medium size companies attempting to grow is: How do we create a sustainable sales process to scale revenue growth on a consistent basis?
The answer is straightforward: focus on the activities and initiatives that drive growth. However, the execution of this strategy is a complex process based on the following buyer behaviors:
_edited.jpg)
In a typical firm with 100 to 500 employees, an average of seven people are involved in most buying decisions.
(Gartner Group)
84%
of CEOs and VPs use social media to make purchasing decisions
(IDC)
67%
of the buyer’s journey is now done digitally
(Sirius Decisions)
72%
of B2B buyers are most likely to share useful content via email
(Earnest Agency)
63%
of consumers need to hear company claims three to five times before they actually believe it
55%
of B2B buyers search for information on social media
90%
of B2B buyers say online content has a moderate to major effect on purchasing decisions
(Biznology)
(Edelman Trust Barometer)
(CMO Council)
INFORMATIONAL ASSETS
These facts clearly demonstrate the need to focus on making the jobs of multiple buyers easier.
Easier means providing the information critical to making a complex, multi-dimensional purchase decision. This includes development of informational assets that enable buyers to find solutions to problems and pass them on to their team members. These assets include:
Product messaging
ROI worksheets
Use case documentation
Success stories
Product development roadmaps