The Power Of Industry Knowledge

According To Forrester Research:

Only One In Five Executives Says That Meeting With Salespeople Meet His Or Her Expectations.

• Seventy-Six Percent Say That Sales Reps Don’t Understand Their Role And Responsibilities.
• Seventy-Seven Percent Say Sales Professionals Can’t Demonstrate How Their Company’s Products Or Services Can Help Their Prospects

Supporting This Is Data From The 2019 Research By Training Industry And Valueselling Associates That Highlights Ongoing Gaps In The Business Acumen Of The Sales Function:

• Seventy-Five Percent Of Buyers Say Salespeople Do Not Demonstrate Knowledge Of Their Industry Structure.
• Seventy-Two Percent Of Buyers Report That Salespeople Do Not Demonstrate An Understanding Of Core Business Roles And Key Organizational Structures.
• Only 37 Percent Of Buyers Say Sales Reps Provide Unique Industry Insights.
• Just 34 Percent Of Buyers See Vendors As “Always Effective” In Sales Conversations With Executives.

Recent Research Found Ongoing Gaps In The Business Acumen Of The Sales Function

The Customer’s Crucial Question Is, “How Is What You’re Selling Going To Help My Business?” That Question Isn’t Being Answered Much Of The Time. Your Sales Rep’s Product Knowledge Should Go Beyond Its Technical Specifications And Encompass Its Applications And How It Can Meet Your Customer’s Needs.

To Conclude, Truly Effective Selling Comes, In Part, From Salespeople’s:

• Becoming Fluent In The Language Of Specific Industries
• Using At Language To Position Their Offer In The Context Of The Real-World Business Problems That Matter Most To The Executives They’re Meeting With
• Being Able To Anticipate The Direction The Discussion Is Headed In
• Being Able To Guide The Discussion Toward Areas Where The Offering Has A Proven Record Of Delivering Benefits