Primary Intelligence Releases New Industry Insights Report “Changing Your Sales Outcomes”
New Research highlights actions companies in the study could have done differently to win 35% of the opportunities they lost to competitors
DRAPER, Utah (March 16, 2018) – A new research report from Primary Intelligence finds that over 35% of losses could have been won had the vendor done something differently in their sales process. In most cases, buyers didn’t see price as the problem.
Primary Intelligence’s comprehensive study from 1,000 B2B sales in health care, software, hardware, and services revealed hidden opportunities: Buyers are willing to give one in three losses a second chance. However, this means the competition has an opportunity to close the sales deal as well. The study shows how companies can win without increasing their cost of sales.
The report, titled Changing Your Sales Outcomes: Doing sales differently to win 35% more deals, found that B2B vendors in the study lost over $1.5B in revenue that they could have won, according to potential buyers, who described their purchase decisions during the previous 12 months.
The report also uncovers that 35% of losing vendors could have done something differently to win. Sales issues were the most prevalent weakness buyers said a losing vendor could have corrected to win.
“When it came to sales mishaps, the most frequent issue buyers raised was a disconnect between their needs and what the losing vendors offered,” said Melissa Short, Industry Insights Director at Primary Intelligence. “Buyers said losing vendors did not understand or address their business needs adequately, especially compared to the winner.”
The report highlights key strategies sales, marketing, and product leaders can adopt to change the sales outcome. The report shares best practices such as:
- What areas of the sales process matter most to buyers
- How to understand the buyer (and prove it, too)
- The top three product pitfalls companies need to avoid
- How price does (and doesn’t) influence a loss
- Success stories and learning opportunities from industry peers
The report is part of the Industry Insights series from Primary Intelligence. More information about the report can be found at https://www.primary-intel.com/industry-insights/changing-sales-outcomes-detailed-report/. A graphic summary of the report is also available at https://www.primary-intel.com/industry-insights/changing-sales-outcomes-summary/.