Pipeliner CRM Round Table

I participated in an engaging roundtable hosted by Pipeliner CRM (www.pipelinersales.com), delving into the profound influence of AI on our business landscape. The discussion generated captivating perspectives and insights from diverse businesses. Here are the 4 key highlights that resonated with me.

  1. AI beats humans on some tasks, but not on all. AI has surpassed human performance on several benchmarks, including some in image classification, visual reasoning, and English understanding.Yet it trails behind on more complex tasks like competition-level mathematics, visual commonsense reasoning and planning.
  2. The United States leads China, the EU, and the U.K. as the leading source of top Al models. In 2023, 61 notáble Al models originated from U.S.-based institutions, far outpacing the European Union’s 21 and China’s 15
  3. The data is in: Al makes workers more productive and leads to higher quality work. In 2023, several studies assessed Al’s impact on labor, suggesting that Al enables workers to complete tasks more quickly and to improve the quality of their output. These studies also demonstrated Al’s potential to bridge the skill gap between low- and high-skilled workers. Still, other studies caution that using Al without proper oversight can lead to diminished performance.
  4. People across the globe are more cognizant of Al’s potential impact-and more nervous. A survey from Ipsos shows that, over the last year, the proportion of those who think Al will dramatically affect their lives in the next three to five years has increased from 60% to 66%. Moreover, 52% express nervousness toward Al products and services, marking a 13 percentage point rise from 2022. In America, Pew data suggests that 52% of Americans report feeling more concerned than excited about Al, rising from 37% in 2022.
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On The Road Again: Milan, Italy

It’s Design Week here in Milan, and automotive, fashion and artistic leaders are displaying the latest in cutting-edge design. We are working with a customer to craft their sales process for success. Listen to the video for more. Ciao!

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Why Profiling In Sales Works

This topic is worth revisiting. While “profiling” typically carries a negative overtone in contexts such as police activity and airport security, Merriam-Webster spells out that in sales, profiling is not only acceptable but central to achieving success. The dictionary defines profiling in sales as “The act or process of targeting a person (or organization) based on known traits, tendencies, characteristics, or behaviors,” highlighting its importance in effective sales strategies.

A thriving sales organization systematically targets customers by delving into their identities, aspirations, industry-wide obstacles hindering their progress, and purchase motivations. By understanding these “traits, tendencies, characteristics, or behaviors,” companies can effectively position their products or services within the marketplace, fostering a sustainable business model.  

It bears repeating – in a business setting, general targeting may work for marketing, but on the streets, sales reps need specific criteria to win. And be aware, it’s one thing to look at your audience from a high level, and quite another to evaluate ideal buyers at the granular level.  

Who are your reps prospecting? Are they using a haphazard approach within an organizational chart or do they have a wisely designed plan? Additional considerations: 

  • Is the team profiling the roles of those who truly are the decision makers or who will sway the buying decision?   
  • Are the reps attuned to how the influential roles might be evolving in the current marketplace?  
  • Do they know what obstacles these influencers may be facing, their overall objectives, and how to directly associate the unique aspects of their product or service with the specific roles?  

While the profiles of decision-makers may vary only slightly, a representative’s thorough understanding of these individuals, meticulously profiled, can significantly impact their success. 

We understand effective sales profiling can be complex which is why we offer Sales Process Definition Workshops. In our workshops we draw upon our research, joint industry experience and our knowledge to collaborate with clients to sharpen their profile aptitude. Here are our steps: 

  1. Working together, outline the profiles of the essential decision-makers and influences necessary to facilitate a sale.  
  2. Delineate the objectives, needs, issues and challenges of both decision-makers and those holding buying influence roles.  
  3. Help clients carefully determine how specific components of their products and services align with their particular targeted audience profile.  
  4. Build a customized strategy for reps to use when preparing for a conversation with the target audience. 

With clear targets, you can decrease the cost per sale. How? Profiling strategies accelerate the sales process by equipping representatives with the tools to deliver a targeted and consistent message. This facilitates quicker qualification of prospects, shortens the sales cycle, reduces setbacks, and enables representatives to efficiently close more deals. Strengths have been leveraged effectively, leading to optimized performance across the sales pipeline. 

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Mastering Persuasion: Leading Buyers To Your Solution

Persuading a potential client to embrace your product or service and adopt a fundamental shift in their business approach presents a formidable challenge. Nevertheless, such persuasion is often a necessary step forward. In my experience, the most effective approach to move a prospect from reluctance to considering change is by showcasing value.  

I liken it to mastering the three M’s – measurement, the mechanism by which value is measured, and the meaning (dollars) of the measurement. Without perceived tangible benefits or a compelling rationale for change, buyers will likely remain steadfast in their decision to decline. 

Here’s a breakdown of the three M’s. Mastery of each will set you on the path to effective persuasion. 

  • Measurement: Understanding how the buyer calculates value is paramount. By asking pertinent questions, you can identify the metrics that hold the greatest significance for the buyer. For instance, in the medical device industry, value is measured in recovery times and reimbursements. In the hospitality industry, attention is often directed towards guest satisfaction ratings and occupancy rates, whereas in retail, metrics like sales per square foot and inventory turnover take precedence. Metrics reflect costs, which your product has the potential to alleviate. To what extent can your product help decrease expenses? This process establishes worth by yielding tangible monetary benefits, with dollar savings serving as a significant indicator of value. 
  • Mechanism: How do you calculate the value? In the medical device industry, it may be patient outcomes per procedure or cost savings per treatment, while in the hospitality industry, it could revolve around room occupancy rates. Does your client have a system? If not, work together to establish one. Achieving alignment on how value is quantified is crucial for an effective approach. 
  • Meaning: How do you evaluate the data generated or collaboratively developed in step two? These figures should undergo analysis to enhance profitability It’s imperative to analyze these figures to optimize profitability. For example, if a medical device company introduces a new procedure that shortens the duration of a specific surgery by 10 minutes, resulting in reduced anesthesia usage and shorter recovery times, the potential cost savings could be substantial. By quantifying this, it’s projected that the hospital could save $500 per surgery, translating to $60,000 in annual savings for each operating room. Such information alone carries immense importance for the buyer. 

Once the value is established, resistance to change diminishes. If the buyer remains skeptical, revisit step one to strengthen the connection between key metrics and value. Flannery Sale Systems can assist you in steering discussions with buyers to integrate value. When applied effectively, these tools will help buyers transition from traditional practices to your innovative approaches more seamlessly.  

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