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Self-educated buyers are discounting you out-of-business!

Self-educated buyers are discounting you out-of-business!

Revenue and net profit are getting hammered

There is no denying that self-educated buyers have disrupted enterprise sales. And with almost 60% of forecasted deals never closing in your favor, it’s easy to see why 45.4% of reps will miss their quota in 2016.

Self-educated buyers are spending a huge amount of time making sense of vendor solutions, without the direct involvement of the vendor. And this is leading to prolonged sales cycles and no decision made as buyers wade through the information deluge trying to find what it is they should be looking for and the questions they should be asking. And if they do manage to actively engage your salespeople, you’re likely to be 1 of 3 suppliers chosen to respond to an RFP or compete on the basis of price.

24% + 35% = Trouble

  • Forecasted deals that end in no decision made. 24% 24%
  • Forecasted deals that are lost. 35% 35%
  • Sales people that will miss their quota 45.4% 45.4%

Self-education is all about buyer leverage.

More choice has led to more in-depth research. Self-educated buyers turn to online resources to discover their options, research pricing, and gather expert and peer recommendations. Before buyers ever pick the phone and call a rep, they’ve formed strong opinions, evaluated and eliminated vendors and made dozens of decisions about their purchase.

At this point, no marketing persona in the world is going to help you. Self-educated buyers are coming to the table armed to the teeth with a deep understanding of their problem and a well-scoped RFP for a solution. The only thing left to discuss is how deep you’re going to discount your offering.

It’s essential in this world of the self-educated buyer that you hit the nail on the head quickly and succinctly for the few seconds that you have your buyer’s attention. If you’re able to speak their language and understand their problems better than anyone else, you’re much more likely to get them to call, request more information and help them find a solution before they discover it on their own.

We uncover actionable buyer insights that you and your staff have never heard before - or you pay us nothing!

Self-educated buyers are expanding the role of marketing.

Self-educated buyers are expanding the role of marketing.

In today’s B2B sales world, self-educated buyers are, on average, 60-70% of the way to a buying decision before they talk to your sales people.

And according to Gartner, these same self-educated buyers spend only 32% of their time reading vendor content or interacting with your salespeople. This lack of buyer interaction has stretched the role of the marketing team from simply engendering awareness and creating interest, to guiding customers throughout the buying cycle and much deeper into the funnel.

With sales not engaged in the early stages of the buying cycle, marketing is being forced to deliver content that is both relevant and personalized to an unknown buyer that is researching options independently and relying on peers and consultants to determine if you’re qualified to address their problem.

The results are not great!

79% of Marketing Leads never Convert to Sales

When marketing leads fail to convert, it’s tempting to blame marketing for bad leads or sales for poor execution. But when you consider that many marketers are shepherding self-educated buyers from awareness through some portion of evaluation with a script aimed at a theoretical personality (a marketing persona) – you can begin to understand why 79% of marketing leads never convert to sales.

It’s tough to argue with the logic behind “know your customer” – know their interests, preferences, fears and goals. But it’s difficult to imagine that buying decisions for ERP software, CRM solutions, or Marketing Automation systems align with things like our age, our job title, whether or not we like to manage people, or any other garden-variety details you find in a typical marketing persona.

Instead of getting caught up in all kinds of details about self-educated buyers that may or may not actually matter, buyer insights focus on the things that actually influence a buying decision. The various triggers that cause people not only to engage with your company, but also to make a purchase.

We uncover actionable buyer insights that you and your staff have never heard before - or you pay us nothing!