A shift to 'outcome selling' can help sales
leaders win in the age of distraction
TORONTO, Sept. 27, 2016 /CNW/ - Organizations have
invested billions in sales productivity solutions to enhance
performance by giving sellers more time to sell – but the
investment strategy is not paying off. According to new research
from Accenture (NYSE: ACN) and CSO Insights, the research division
of Miller Heiman Group, 59 percent of global sales executives say
they have access to too many sales tools and are bombarded by too
much disaggregated customer data to be effective. Another 55
percent say their sales tools are an obstacle to selling.
Consequently, 'sales distraction' is hindering business
performance, causing more than half (56 percent) of global
organizations to miss annual sales forecasts.
The Accenture Strategy report, 'Selling in the Age of
Distraction', examined the challenges impacting sales
performance of global organizations with revenues of more than
$1 billion, featured in CSO Insights'
2016 Sales Performance Optimization Benchmark Study.
"Current productivity investment strategies are overwhelming
sales executives with too many sales tools, too much customer data
and siloed insights, which have become a distraction. Many are
inundated with more information than they can effectively use or
absorb, and are tied up with unproductive administration," said
Jason Angelos, Managing Director,
Advanced Customer Strategy, Accenture Strategy. "Pivoting from
productivity to 'outcome selling' – which helps sellers to hone in
on the insights and actions that matter most – can help them regain
focus and deliver the tailored solutions and experiences customers
expect."
The high cost of distraction
The era of productivity
has given rise to 'the age of distraction'. Many sales enablement
programs intended to boost productivity have instead contributed to
diversions that pull sellers off course. According to the research,
just 22 percent of sellers' time is taken up with lead generation,
and only 36 percent of their average work week is spent selling.
Sales productivity has also decreased from 41 percent five years'
ago, to 36 percent today. Another 58 percent of sales executives
are concerned about achieving this year's sales targets.
"To help sellers deliver the experiences customers crave and the
offers they find meaningful, organizations can leverage technology
to deliver predictive and prescriptive insights to sales," said
Berkeley Warburton, Managing Director, Advanced Customer Strategy,
Accenture Strategy. "Analytics, big data and machine learning
capabilities can bring the right insights to sales representatives,
at the right time, empowering them with the information they need
to deliver stronger customer experiences."
Boosting sales performance
Organizations that want to
boost their sales performance can shift to 'outcome selling' by
connecting customer insights and actions that matter the most, and
giving sales executives the best opportunity to deliver more
tailored solutions.
Organizations can move to this approach by:
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1.
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Connecting
customer insights: Crush the silos that slow efforts to capture
and share customer insights across touch points – from call
centres, kiosks, social media networks to sales and post-sales
service channels. Also push past static profiles to understand
customer behaviors and preferences, and identify the best
opportunities for sellers to advise and influence
customers.
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2.
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Predictive
insights: To help sellers deliver the experiences customers
value the most, organizations should look to build predictive sales
insights and an execution model to deliver them. Central to this
vision is a sales intelligence hub, which delivers forward-looking
recommendations to sales executives. The blueprint calls for
next-generation analytics tools and data collection methods,
predictive analysis, and detailed sales guidance for
executives.
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3.
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Top
performer seller insights: Organizations need to understand
what differentiates the top sellers in their own business, and in
the organizations of their channel partners. To help position the
right talent with the right opportunities, sales leaders need to
understand as much about their top sellers as their customers. The
research shows that when sales leaders leverage these insights
through coaching sessions on how to implement an outcome-driven
sales process, sellers perform 10 percent better than the peer
average.
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Please visit www.accenture.com/DistractedSelling to read the
full report. Join the conversation at @AccentureStrat #CSO
About the research
Accenture Strategy, in
collaboration with CSO Insights, a leading research and
benchmarking organization, completed the 22nd annual
study on sales performance optimization. The survey of 500 sales
executives from different industry groups around the world assessed
current sales performance, challenges facing sales teams, and what
organizations are doing to address those challenges. In this year's
study, conducted in February 2016, 65
respondents represented organizations with more than $1 billion in sales.
About Accenture
Accenture is a leading global
professional services company, providing a broad range of services
and solutions in strategy, consulting, digital, technology and
operations. Combining unmatched experience and specialized skills
across more than 40 industries and all business
functions—underpinned by the world's largest delivery
network—Accenture works at the intersection of business and
technology to help clients improve their performance and create
sustainable value for their stakeholders. With more than 375,000
people serving clients in more than 120 countries, Accenture drives
innovation to improve the way the world works and lives. Visit us
at www.accenture.com.
Accenture Strategy operates at the intersection of business and
technology. We bring together our capabilities in business,
technology, operations and function strategy to help our clients
envision and execute industry-specific strategies that support
enterprise wide transformation. Our focus on issues related to
digital disruption, competitiveness, global operating models,
talent and leadership help drive both efficiencies and growth. For
more information, follow @AccentureStrat or visit
www.accenture.com/strategy.
About Miller Heiman Group
Miller Heiman Group has
historically been recognized as one of the largest training
companies in the world, but is quickly becoming one of the most
prolific business solutions provider in sales and service
performance development. Built on legacy brands such as
Miller Heiman, AchieveGlobal,
Huthwaite, Impact Learning Systems, Channel Enablers and CSO
Insights, Miller Heiman Group is backed by more than 150 years of
experience and performance. Our Be Ready solutions offer more
sales- and customer service-based solutions than anyone in the
industry, and empower people across the entire organization to
perform at peak potential by bringing game-changing insight to
sales performance and customer experience. This allows you to build
and sustain a successful, customer-focused organization that drives
profitable revenue and top-line growth on a global scale. To learn
more, visit our website. Follow us on LinkedIn, Twitter, Facebook,
YouTube and Google+.
SOURCE Accenture