understanding buyer needs infographic

Primary Intelligence analyzed sales and product data from over 10,000 telephone- and web-based interviews since 2008 to understand how sellers’ ability to understand buyer needs impacts sales team effectiveness, including win rates, buyer satisfaction, and overall competitive advantage. Respondents included key decision makers in a wide range of departments and functional areas. www.primary-intel.com/industry-insights/understanding-buyer-needs-snapshot/ Understanding Buyer Needs Understanding Buyer Needs Understanding buyer needs was nearly 3X as important as the next highest sales experience influencer (out of 9 categories) Understanding Buyer’s Needs Product knowledge Responsiveness What’s Most Important to Buyers? Over half of sellers who win deals show buyers they effectively understand their needs How Does Understanding Buyer Needs Drive Wins? Less than one-third of sellers who lose deals adequately understand their buyers’ needs 31% 59% These reps have a higher percentage of “strong wins” (wins in which buyers overwhelmingly chose their solution) If you’re not focused on understanding your buyers’ needs, you’re missing the most important criteria buyers use to judge your success How are Reps Doing? Less than half of buyers believe sales reps effectively understand their needs Less than half of buyers believe sales reps effectively understand their needs 43% Satisfaction rates are nearly 3X higher for those who rate higher in understanding business needs compared to buyers who rate poorly Which Industries Struggle Most? Software Solutions 41% Hardware Solutions 47% Business Services 46% Healthcare Solutions 49% Financial Services 44% Software reps have the lowest ratings of all industries, with just 41% “excellent” ratings when buyers were asked to rate sales effectiveness in understanding their needs Sales Rep Excellence Rating North and Latin American reps do the best job in understanding their buyers’ needs We identified how often sales reps were considered “excellent” at understanding buyer needs in each region Reps in Asia Pacific struggle the most to understand buyer needs 44% 44% 42% 42% 29% 29% 16% 16% Sales reps targeting small firms (<50 employees) are 25% more effective than reps selling into organizations with 100K+ employees How to Improve • Listen hard, then ask good follow-up questions • Develop a strategy for dealing with large buyer teams • Customize your offer • Ditch the cookie cutter approach and get creative • Show buyers you’re their long-term partner • Get help from technical teams if your solution is highly complex • Outreach to buyers in multiple channels, including digital • Develop a strong online presence • Get training—today • Listen hard, then ask good follow-up questions • Develop a strategy for dealing with large buyer teams • Customize your offer • Ditch the cookie cutter approach and get creative • Show buyers you’re their long-term partner • Get help from technical teams if your solution is highly complex • Outreach to buyers in multiple channels, including digital • Develop a strong online presence • Get training—today To learn more and purchase the Understand Buyers Needs report, visit www.primary-intel.com/industry-insights/understanding-buyer-needs-snapshot/ Better Intelligence. Better Strategy. Better Win Rate. Industry Insights Powered by

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Page 1: Understanding Buyer Needs Infographic

www.primary-intel.com/industry-insights/understanding-buyer-needs-snapshot/

Understanding Buyer NeedsUnderstanding Buyer Needs

Understanding buyer needs was nearly

3X as importantas the next highest sales experience influencer

(out of 9 categories)

Understanding Buyer’s Needs

Product knowledge

Responsiveness

What’s Most Important to Buyers?

Over half of sellers who win deals show buyersthey e�ectively understand their needs

How Does Understanding Buyer Needs Drive Wins?

Less than one-third of sellers who lose dealsadequately understand their buyers’ needs

31%

59%

These reps have a higher percentage of

“strong wins” (wins in which buyers

overwhelmingly chose their solution)

If you’re not focused on understanding your buyers’ needs, you’re missing the most important criteria buyers use to judge your success

How are Reps Doing?

Less than half of buyers believe sales reps e�ectively understand their needs Less than half of buyers believe sales reps e�ectively understand their needs

43%

Satisfaction rates are nearly 3X higher for those who rate higher in understanding business needs compared to buyers who rate poorly

Which Industries Struggle Most?

SoftwareSolutions

41%

HardwareSolutions

47%BusinessServices

46%

HealthcareSolutions

49%

FinancialServices

44%

Software reps have the lowest ratings of all industries, with just 41% “excellent”ratings when buyers were asked to rate sales e�ectiveness in understandingtheir needs

Sales Rep Excellence Rating

North and Latin American reps do the best job in understanding their buyers’ needs

We identi�ed how often sales reps were considered “excellent” at understanding buyer needs in each region

Reps in Asia Paci�c struggle the most to understand buyer needs

44%44%

42%42%

29%29%

16%16%

Sales reps targeting small �rms (<50 employees) are 25% more e�ective than reps selling into organizations with 100K+ employees

How to Improve• Listen hard, then ask good follow-up questions

• Develop a strategy for dealing with large buyer teams

• Customize your o�er