Why Real-Time Feedback Is Vital to B2B Sales Performance
Sales leaders don’t have insight into whether they have a sales experience problem until it is far too late. Whether it’s a deal-closing slump or a poor customer journey that keeps repeating itself, measuring quality now can help avoid these potential issues in the future.
When managers have access to real-time data analyses powered by AI, it helps them isolate exactly where a salesperson may be struggling so they can address it. It also helps inform the organization’s messaging, coaching and training, by isolating win/loss patterns across the team.
In this Q&A, Jen Allen, chief evangelist at Challenger Inc., shares insights about the importance of more real-time feedback in the sales process to remove uncertainties.
Q: How does real-time feedback in the sales process remove uncertainties for sales reps? How does it help them pivot during the purchase process?
J.A.: With many of us still operating in a predominantly virtual selling environment, sellers miss out on the previously common post-meeting opportunities when prospects would walk the team out of the conference room and back to the building’s reception desk. Those hallway walks often included conversations like, “How do you think it went?” or “How did you perceive Dave’s response to the solution?”
Because we’ve gone increasingly virtual, sellers are often left to their own subjective perceptions of the quality of the meeting. Sometimes, it’s overly positive: “They loved it!” and sometimes, it’s overly negative: “That meeting did not go well!” Either way, sellers’ perception of the meeting causes them to make choices as it relates to next steps that may be unnecessary, incorrect, or even harmful to the sales pursuit. Any misstep could lead to the biggest pain point for sales teams: preventable loss.
To reduce preventable loss, sellers need to improve the purchase experience, and the best way to do that well is with real-time feedback. That’s why Challenger created Loop. By providing an opportunity for the customer to weigh in on the sales experience they received, sellers are armed with the confidence to know exactly what did or didn’t work in the meeting, and what next steps are left to address in order to earn the customer’s business. By gathering 360º feedback during the sales process, teams can pivot quickly and course correct in order to meet buyers needs and preferences and close more deals.
Q: How does it help them analyze the process once a sale is won/lost?
53% of a customer’s decision to do business with a supplier is related to the sales experience they received. Yet, how often do sellers seek to understand exactly how that sales experience led to a positive or negative outcome? All too often, sales teams are left to their own assumptions about why they win or lose.
As a result, it can be difficult to isolate positive or negative patterns within sellers’ control. So, they miss out on an opportunity to replicate aspects of the sales experience that lead to wins, or remove aspects that lead to losses. With real-time feedback, sellers no longer have to make assumptions in their win/loss analyses.
Q: Why haven’t organizations used customer feedback regularly before? What were they missing out on by only reviewing CRM data/what incorrect assumptions were made?
J.A.: Organizations haven’t used customer feedback regularly before because when sales leaders hear the words “customer surveys,” it’s often followed by an audible groan. They think, “Customers hate responding to surveys, don’t they?” It feels like a nuisance to ask a customer to complete a survey, so salespeople and their managers are often left to rely on subjective and possibly inaccurate data. For example, how often do sellers select a win/loss reason that is related to their own delivery of the sales experience? It’s unlikely. More often, it’s due to “price,” “a bad fit,” “value,” or something else outside of the seller’s control. Because of that, leaders may be operating on inherently flawed data.
It’s extremely important for sales teams to reconsider their own assumptions about customer surveys. They must consider when they ask a customer to complete a survey in the sales experience. It’s typically after the team has won or lost their business, but why not during? They also must consider what’s in it for the customer. Perhaps, if the seller did an amazing job, they’ll complete it so the seller is recognized internally at the organization. But – what’s in it for the customer who chose to do nothing, or selected another supplier? The benefit is entirely to the supplier and how they position it.
However, with an “in-flight” customer survey, the benefit is mutual. For example, a potential customer may be looking to have a sales conversation where they can get specific questions addressed by the rep, but instead they’re going through slides or delivering a one-way demo. Now, the customer has an opportunity to express their dissatisfaction with the sales call, while there is still an opportunity for the rep to address it. As a result, this feedback increases the likelihood that the next call is more aligned with what they are seeking to get out of the experience.
Q: With inflation and economic uncertainty affecting businesses’ budgets, how can real-time feedback help sellers find the most impactful solution for their potential customers and close more deals?
J.A.: Challenger’s analysis shows that 38% of opportunities are lost to no-decision or status quo. While the buyer often agrees that how they’re currently solving the problem isn’t the “best” approach, they also know that a “better” solution introduces significant risk. They are thinking “What if it doesn’t work?” “What if the team disagrees with the new approach?” “What if I look bad for asking for more budget from my boss?”
Sellers often assume the reason is “price,” “budget,” “bad timing,” or “competing initiatives.” But, without any input from the customer, it can be difficult to isolate how to evolve a pitch and solution positioning to avoid losing other customers, especially when economic uncertainty is impacting business decisions. By having direct customer feedback, it removes the subjective bias on why sellers win and why sellers lose. As a result, sellers can work to ensure potential customers feel confident in the purchase decision.
Q: How can managers use these insights to help with seller training and how can AI-driven tools support this initiative?
J.A.: Many managers are well-intentioned in their desire to coach and develop their reps. But, their capacity is often constrained by special projects, forecasting/reporting, hiring and recruiting, onboarding new hires and more. Additionally, preparing for a coaching interaction is time-consuming, and managers who face capacity challenges will either default to simply asking “Where do you need help today?” or skipping the interaction all-together.
Imagine if managers could open up a dashboard and be able to see where each rep is strong or falling short from a customer’s perspective. When managers have access to real-time data analyses powered by AI, it helps them isolate exactly where the rep may be struggling so they can address it. It also helps inform the organization’s messaging, coaching, and training, by isolating win/loss patterns across the team. When investing in talent and their development is more important than ever, real-time feedback can provide organizations with invaluable insights. Challenger launched Loop for this reason. Uncovering vital data points and patterns helps sellers win moments that matter.
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