15 Insights from Primary Intelligence Experts
After 15 years, the Primary Intelligence team has grown to include some of the best minds in the business. Their secret is simple: they learn from buyers, sales teams, account managers, and our clients. Here are 15 favorite insights from the crew.
Beating an incumbent
“When you are coming up against an incumbent, you have to offer 2x the amount of benefit compared to the incumbent because the buyer values the relationship and what they could be losing out by switching vendors. Economists call this Loss Aversion. Anyone in sales just calls this reality.”
Positive feedback
“The same day I delivered a win loss interview to a client, the CEO of the company personally reached out to the sales rep to congratulate him on the positive feedback. With that one action, the CEO sent a message to everyone in the company that buyer feedback is important.”
No blaming
“What’s the secret to gaining your sales team’s trust in win loss analysis? No blaming, naming or shaming for lost deals. Focus on how they can build an advantage in the next deal.”
Get the word out
“Getting data into the right hands is the first step to success. Next, and most important, is applying what you learn.”
Treat existing customers as new
“Sales teams need to treat every deal like it’s a new customer—you are always on a trial basis.”
It's not about the money
“Money never stops someone from making a purchase decision. The value provided to justify spending the money is where you will make it or break it.”
Take it at face value
“The people who reap the biggest benefits from a voice of the buyer program are the ones who take the feedback at face value. They don’t try to rationalize it away. They don’t try to discount it. They embrace it. And it always leads to innovation and a competitive advantage.”
Proper support
“Larger companies have more sophisticated needs for complex functionality, and need to interface with other enterprise tools. If you aren’t equipped to support those needs, you’ll end up like the local Ford dealership selling to buyers who want a Tesla.”
Subject matter experts
“Bringing subject matter experts into your sales process can give you a noticeable competitive edge. These experts give prospective customers immediate confidence in your ability to understand and meet the demands of their business.”
Customers are future buyers
“Your customers are future buyers. Stop asking if they’re satisfied. Instead figure out how to guarantee a renewal.”
No feedback, no improvement
“To some extent, all of us try to make ourselves look good while keeping our weaknesses under wraps. We aren’t looking for ways to expose our failures, but, until we get enough feedback and coaching, we will continue in our habits, good or bad.”
Feel their pain
“B2B buyers want to know that sales reps understand their pain points, will act quickly and effectively to solve them, and will be there for them over the long term.”
No shame, no pain
“Creating the proper atmosphere for quality improvement is dependent on how you address mistakes or missteps when you uncover them. Rather than punishing or shaming the team that was involved, you need to work with them to understand why the misstep occurred, and what you (as an entire group) can do to set a higher standard in future situations.”
Buyers do research
“Buyers now access voluminous online information independently to investigate vendor offerings, educate themselves on service and support plans, and look for customer referrals. In fact, B2B buyers typically complete most, if not all, of their research before they even reach out to vendors for a quote or product demonstration.”
Deliver what you promised
“The biggest influence on your customer’s experience is your ability to deliver the outcomes they wanted when they decided to buy from you. You can provide the best support in the world, have wonderful relationships, and be beloved by your customer, but if you can’t deliver what you promised, your customer will leave you as soon as they find someone who can.”