{"id":290,"date":"2023-11-03T16:36:13","date_gmt":"2023-11-03T16:36:13","guid":{"rendered":"https:\/\/pica.marketing\/?p=290"},"modified":"2023-11-03T16:46:11","modified_gmt":"2023-11-03T16:46:11","slug":"win-customers-late-buying-journey","status":"publish","type":"post","link":"https:\/\/pica.marketing\/win-customers-late-buying-journey\/","title":{"rendered":"6 Insights to Win Customers in the Final 30%"},"content":{"rendered":"\n

We’ve known for at least a decade that buyers complete the majority of their research prior to reaching out to vendors. In June 2023, 6sense<\/a> did a study on ~1k groups who were involved in a $10k+ purchase. Below are the findings from their research.<\/p>\n\n\n\n

But first, here are my actionable insights:<\/p>\n\n\n\n

    \n
  1. Quality content is [still] important to capture attention, educate, and build trust through the entire buyer journey, especially the front 0-70%. This could be educational content created by the marketing organization or content created by existing customers like product reviews.<\/li>\n\n\n\n
  2. How fast you respond to a buyer is critical. You want to be the first interaction, otherwise you’re choosing a 16% chance of winning.<\/li>\n\n\n\n
  3. It’s effective for salespeople to function as buyer guides (not “sellers”) through the final 30% of the buyer’s journey.<\/li>\n\n\n\n
  4. Asking buyers “are you speaking with other vendors?” can tell you what your odds of winning are, and more importantly it can give you intel on how to be a better guide through the remaining 30% of their journey.<\/li>\n\n\n\n
  5. Maintain a mindset of “unbiased helpfulness” rather than “sell my product”.<\/li>\n\n\n\n
  6. Account-based marketing and team selling can help you and the customer manage the large amount of information in a buying process.<\/li>\n<\/ol>\n\n\n\n

    And now for the research data that informed the above takeaways:<\/p>\n\n\n\n

      \n
    • Buyers first interact with a vendor 70% through their buying journey<\/li>\n\n\n\n
    • Buying groups were an average of 10 people<\/li>\n\n\n\n
    • Each person had 16 interactions with each vendor<\/li>\n\n\n\n
    • 4 vendors were evaluated on average<\/li>\n\n\n\n
    • 10 people * 4 vendors * 16 interactions each = 640 interactions in the journey<\/li>\n\n\n\n
    • When more vendors are added, more people are added to the buying group to help manage the vendor interactions and decision-making<\/li>\n\n\n\n
    • Buyers initiate contact with vendors 83% of the time<\/li>\n\n\n\n
    • Whichever vendor has the first contact wins 84% of the time<\/li>\n\n\n\n
    • When a buyer gets in touch with your organization, you either have 84% odds of winning or 16% odds of winning<\/li>\n\n\n\n
    • Therefore, respond quickly to get the 84% chance of winning<\/li>\n\n\n\n
    • Buyers have already set their requirements 78% of the time prior to interacting with a vendor<\/li>\n<\/ul>\n\n\n\n

      Keep in mind: buyers are in control, and the sales process is the beginning of the end of the buying process.<\/p>\n\n\n\n

      To win, have a service-oriented mindset no matter which department you’re in, share valuable content, and be extremely responsive.<\/p>\n","protected":false},"excerpt":{"rendered":"

      We’ve known for at least a decade that buyers complete the majority of their research prior to reaching out to vendors. In June 2023, 6sense did a study on ~1k groups who were involved in a $10k+ purchase. Below are the findings from their research. But first, here are my actionable insights: And now for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[16,28,29,19],"_links":{"self":[{"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/posts\/290"}],"collection":[{"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/comments?post=290"}],"version-history":[{"count":5,"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/posts\/290\/revisions"}],"predecessor-version":[{"id":297,"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/posts\/290\/revisions\/297"}],"wp:attachment":[{"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/media?parent=290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/categories?post=290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pica.marketing\/wp-json\/wp\/v2\/tags?post=290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}