Lean into these three sales growth strategies

Everything is moving online. Here are three key sales growth strategies (thanks Mary Shea @ Outreach!) that I gathered at a recent tech conference in the Bay Area:

1. Locate and focus your efforts around a generational shift, in your industry or in society at large.

   1. “The confluence of macro forces driving change at an extraordinary magnitude and pace.” – What is changing in society? How are your customers interacting with the world? Where can you, as a business, capture the change of pace as it's evolving and becoming more common?
      
      For Moneymap, this means leaning into asynchronous financial advice and gradually streamlining operations using AI. It’s clear to us, based on user behavior, that people have a strong preference for asynchronous advice over live meetings.
      
      

2. Digital interactions are becoming more common

   1. Business leaders are more comfortable with remote conferences and meetings. More and more B2B sales happen completely remotely, it’s easier than ever to set up a meeting with an executive in a position of power than ever before.
      
      As we know from our research with Dan Ariely at Duke University, financial advice is actually more effective when it’s delivered asynchronously and just-in-time.
      
      

3. Utilize technological advances to your advantage

   1. Audit your internal structure, product(s), and job functions to drive efficiencies with software automation and artificial intelligence.
      
      Moneymap’s scale and profitability are based on highly-efficient, highly-personalized and highly-efficient workflows. 

Mary Shea also touched on another idea that is less-common in sales functions, an average of 11 individual stakeholders are involved with B2B purchases in enterprises. Instead of the ‘buyer’ it’s now ‘buying groups.’ 

On top of that, the average buying cycle has increased, which means the necessity to create long-term relationships with your buyers has increased. Post-transaction, buyers are expecting personalized support and guidance. Positioning yourself as a company in partner-terms, rather than buyer-seller terms creates the opportunity to build on these relationships in order to create more business value for each stakeholder. 

Lastly, these ‘buying groups’ want a great answer to a complex question in the moment, rather than a perfect answer after the fact. Try not to follow up with an answer after the call/meeting, give your best answer in that moment. 

I’ll close with some best-case attributes Mary outlines for the ‘seller’, and the ‘leader’. 

Best-case seller attributes:

• Leans into collaborations with partners

• Predictable producer

• Digital first mindset

• Data-driven

• Long-term relationship builder

• Embraces hybrid method
  
  

Best-case leader attributes:

• Finance + data literacy

• Delivers predictable, efficient growth

• Procures innovative sales technology

• Empathetic + accountable

• Buyer-centric strategies

I hope you find value in my learnings, if you did, feel free to discuss below on which aspect was valuable to you. 

Have a question? Get in touch: joshua@moneymap.io