How buyer behaviours have changed - Louisa Francis, Commonwealth Bank

Louisa Francis

Executive Director, Operations, Client Coverage Group, IB&M

Commonwealth Bank

HOW B2B BUYING HAS CHANGED

/ 2. © rogenSi IP limited

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“Change isn’t compulsory, but then again neither is survival” - W. Edwards Deming


Cover slide /

54pt Discipline, Courage & Curiosity 2015 Global Report ‘What it takes to win business’


54pt

2035…


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Great Conversations driven by Insight /

Conversations, not interrogations


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“The problem is they lack the power of conversation, but not the power of speech.”

- George Bernard Shaw


Attributes of great salespeople /


Winning was about…

1995 “Here is our offer and here’s

why it’s best for you”

2005 “Here’s what you’ve told us is

important to you, and here’s how we can meet your needs.”

Conclusions from the research /


2015

“Here’s where your industry is heading and the biggest risks your business will face in the next few years

(if you’re not already). Meeting these challenges requires a different way of thinking and doing business. We can help and

we have a proven track record of doing this.”


• Approach every conversation with an intent to learn something

• Engage with marketing and data analytics to develop key insights for specific customer segments supported by compelling evidence

• Check how often documents reference the customer’s company name as opposed to your own

• When reviewing documents, step into the customer’s shoes and ask the “so what?” question.

Top tips /


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Commercial Acumen underpinned with Discipline / Everyone prepares, everyone follows up

Reasons to buy /

CREDIBILITY SUBJECT

KNOWLEDGE LISTENING

SKILLS COMMUNICATE

VALUE RAPPORT

21% 20% 19% 17% 7%

Reasons not to buy /

POOR LISTENING SKILLS

LACK OF SUBJECT KNOWLEDGE

POOR PREARATION

LACK OF RESPONSIVNESS

25% 23% 16% 10%


Putting price in context /

2015 findings ‘The reasons why a seller is awarded

a major piece of business

Their ability to bring innovation into their solution

They understood my needs

The level of insights provided in their solution

1

Most

Important

Least

Important

15


Top tips /

• Educate the sales team on the cost of discounting and practise handling price objections

• For complex sales, provide negotiation training and an understanding of the competitive alternatives, so your sales teams can trade value effectively.

• Prepare, prepare, prepare! Rehearse the first 5 minutes of your meeting

• Everyone in the team must be disciplined in the follow up

In Summary /

The Value of Insights in a Buyers World

What do clients want?

• Meaningful conversations backed by insights

Where is the focus to drive opportunities?

• Plan to add value in our dialogue with buyers

• Use subject matter expertise to improve credibility

• Use analytics to be the trusted advisor to educate businesses

Contact: James Keeler

[email protected]

Louisa Francis COO, Client Coverage Group

Thank you

How buyer behaviours have changed - Louisa Francis, Commonwealth Bank

Sales

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