The new paper delivers insights from SBI's B2B
buyer survey to identify what causes buying friction
and how to overcome it.
SOUTHLAKE, Texas, April 19,
2024 /PRNewswire/ -- SBI, the go-to-market (GTM)
growth advisory, is pleased to announce the latest expansion to its
research on commercial productivity with a report titled:
Revive Commercial Productivity by Easing Buying
Friction.
Key Findings:
- Executives are more involved in purchase decisions with 78% of
buyers saying their decisions were often overruled by senior
executives.
- More executive scrutiny, stakeholders, and internal bureaucracy
is creating friction and slowing deals with purchases taking 12%
longer than buyers anticipated.
In early 2024, CEOs named buyer factors as the top threat to
commercial productivity. To understand how buying behaviors are
undermining commercial productivity, SBI surveyed 600+ B2B buyers
who recently completed or attempted to complete a purchase and
supplemented that data with one-on-one interviews with CEOs, CROs,
and COOs about their teams' experience working with customers. From
those data points, the paper offers recommended actions that GTM
leaders should take to improve commercial productivity.
"In most cases, current commercial strategies aren't wrong, but
they aren't enough," says Nick
Toman, SBI chief strategy and product officer and chief
architect and co-author of the Challenger Sale. "Our
research identified multiple ways commercial strategies need to
evolve to meet the needs of today's buyers and drive
productivity."
The report suggests four ways commercial strategies must
evolve.
- Demonstrate the organizations' ability to evolve with buyers as
their conditions change.
- Help buyers to anticipate how change will impact their needs to
avoid the distractions created by re-learning, re-aligning, and
redeciding.
- Expect, track, and engage executive and ad-hoc stakeholders to
avoid late-stage slowdowns.
- Invest in commercial talent and in-person engagements to
improve relevance and trust.
This is the latest piece of research that builds upon SBI's
ongoing efforts to produce resources dedicated to helping
organizations diagnose problems impacting their commercial
productivity and optimize their GTM functions to drive revenue
growth. A previous paper, titled, Delivering Sales Velocity
in Today's Market, featured groundbreaking research that
explored the relationship between seller approaches and deal
velocity and size.
Other resources that GTM leaders could use in tandem with this
research include SBI's Talent MAP, which provides companies
with a structured way to evaluate their commercial organization,
identify what competencies define their top sales performers, and
develop scalable training and enablement to replicate these
competencies across their sales team.
About SBI
SBI is a Growth Advisory offering collaborative consulting,
advisory services, and a world-class sales training and commercial
productivity practice. Our team of strategic implementers has owned
and operated the marketing and sales functions at the world's most
successful growth companies. Our approach is based on an intimate
understanding of the buyer-seller journey. Working as an extension
of our client's teams, SBI applies relevant data and insights to
deliver impactful strategies that generate significant ongoing
top-line growth. Visit https://sbigrowth.com to learn
more.
Contact: Amy Lummus
SVP of Marketing
607.379.4565
amy.lummus@sbigrowth.com
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SOURCE SBI Growth