How high performers adapt their sales behaviours to market conditions
A Preview to the Diamond Sales Behavior Benchmark Study
We have been assessing B2B sales behaviors for a number of years and this year we will release our first sales behavior benchmark report.
Here are some preview highlights across three segments:
1. Business Services
2. Banking & Finance
3. Industrial Products
We have seen a significant shift in Cadence (business rhythm) as providers recognise the need to have more regular contact with their customers and prospects. Insight is also a key focus as providers acknowledge the importance of understanding what their customers are planning for the future.
The managers in this segment have recognised a significant shift in behaviours of their people across all four behavioural areas (Insight, Initiatives, Customer Value & Cadence). Whilst the gap between the managers perceptions and the self-assessments has reduced it is still significant, as the managers are raising their level of expectation of their people.
Top Performers Behaviours
There is a strong emphasis on the Customer Value behaviours as the high performers strive to be relevant and differentiate themselves from competitors. There is also a strong emphasis on market insight to drive customer conversations and connect the insight to relevant and practical solutions.
Banking & Finance
We have seen an increase of the consistency and effectiveness of self-assessed behaviours over the period particularly for Customer Insight. This is being driven by the higher levels of compliance required by the regulators in this sector along with the Royal Commission.
The managers in this sector are driving higher standards as demands for sales with less resources coupled with greater levels of compliance really starts to bite. The managers are focused on significantly increasing the level of insight to ensure their sales teams are selling the right services that will deliver real value to their clients.
Top Performers Behaviours
There is a pattern here that indicates that the most important behaviours in this segment are around the engagement with clients. This is driven by insight to drive a more partnering approach to achieve a trusted advisor status to drive high performance results.
The self-assessed behaviours have increased significantly in the areas of Cadence and Customer Value. This is driven by ever increasing marketplace where coverage and differentiation are critical to success. The managers assessments of their teams have also increased over the period and the levels this year are far more balanced (across the 4 points) against the previous periods. This is due to the managers being more focused on taking a more strategic approach over the traditional transactional approach. It is encouraging to see that the focus on improving Insight has been successful, this provides a sound platform for more relevant, proactive initiatives and the delivery of real customer value.
The highest ranking behaviours of the high performers are driving a focus on the delivery and measurement of value delivered to customers to differentiate their offerings and drive new business. This is coupled with a strong focus on cadence behaviours to be in the right place at the right time.
Look out for the next set of segments in the coming weeks. If you would like to receive a copy of the Sales Behaviors Benchmark Report, please click here to register