by Chris Kappes, Exhibit City News
Column: From the Corner Office
Meet William “Willy” Loman, the legendary protagonist of Arthur Miller’s classic play, Death of a Salesman. Willy is a traveling salesman who, after 34 years of dedicated service to the same company, finds himself facing a pay cut, a pink slip, and the daunting challenges of his current circumstances.
Now, if you’re in the business of selling products or services to the tradeshow industry, you might feel a bit like Willy Loman, but without the luxury of creating a fantasy world. In this ever-evolving landscape, you’re confronted with corporate uncertainty, fierce competition, inflationary pricing, disruptions in marketing channels, labor shortages, and a whole lot more. Unlike Willy, you must adapt and reinvent your sales strategy to thrive in these new realities.
Welcome to Selling 2.0
Let’s be honest; selling today is a far cry from the days of Willy’s cold calls and casual inquiries about customer needs. The complexity of modern sales is a result of the evolving sophistication of customer demands, the proliferation of digital sales channels, and the increased involvement of decision-makers in the buying process.
According to a survey by Bain and Google, a staggering 80% to 90% of business-to-business (B2B) buyers already have a list of preferred vendors before they even start researching. This suggests that buyers are inclined towards pre-sales omnichannel marketing campaigns that build brand recognition and preference.
Gartner’s research reveals that B2B buyers spend just 17% of their time meeting potential suppliers, with the rest devoted to comparing various suppliers through online research, industry referrals, word of mouth, and other sources. Moreover, the average number of customer stakeholders involved in a B2B purchasing decision ranges from 6 to 10 individuals.
Now, the million-dollar question is: How can sales professionals compete and come out on top in this challenging landscape?
Here’s a roadmap to success:
Step One: Create Your Sales Blueprint
Start by constructing a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis for your company. Use this analysis to identify growth opportunities in your industry, with the help of online business performance tools like barchart.com or other resources recommended by AI chat platforms.
Step Two: Identify and Vet Your Prospects
Leverage tools like HubSpot, Salesforce, and insights from business publications/sites to build and organize a database of potential clients and key contacts.
Step Three: Develop Your Market
Collaborate closely with your marketing team to craft a business development marketing plan that employs omnichannel tactics aimed at building awareness, differentiation, and performance testimonials.
Step Four: Lead with Insights
Remember, buyers seek insights and solutions to their challenges. What sets successful sales professionals apart is their deep industry knowledge, their ability to ask the right questions, and their capacity to confirm that their offerings deliver the desired business results.
Step Five: Confirm and Test
Validate what you’ve heard from your clients and put potential solutions to the test.
Step Six: Seal the Deal
Secure final agreement with a proposal that leaves no room for surprises.
Step Seven: Deliver and Serve Continuously
Customer satisfaction isn’t a one-time achievement; it must be earned continually.
In the ever-changing world of sales and the tradeshow industry, it’s not about mirroring Willy Loman’s struggles, but rather about embracing a dynamic approach and staying ahead of the game. So, as you venture forth into this exciting and challenging world, remember to adapt, innovate, and always be ready to rewrite your own success story. After all, unlike Willy, your story doesn’t have to end tragically; it can be a tale of triumph and lasting success. Happy selling!
