Alinean, presenting at Forrester's Technology Sales Enablement Forum 2011, revealed several important best practices to effectively fight Frugalnomics, improve sales success and reduce sales cycles
These were revealed at the San Fransisco event in the workshop presentation Fighting Frugalnomics - Engaging and Selling to Economic-Focused Buyers presented by CEO Jefre Futch and Alinean customer, ShoreTel's Mark Arman, Vice President of Business Development.
With two recessions over the past 10 years, research reveals that B2B buyers have become focused on quantifiable bottom-line proof points. And this trend is expected to continue even as the recovery takes hold. The reign of the economic-buyer is called Frugalnomics, where buyers require significant ROI, fast payback and superior value from each purchase.
In the face of frugal buyer sentiment, a majority of B2B vendors are now requiring more leads to generate the same amount of sales and are reporting a substantial increase in buying cycle time. The inability for sales to engage buyers with value messaging has currently been cited as the number one reason for sales not making quotas.
Alinean's research revealed that new sales enablement strategies and investments are required to fight Frugalnomics. Here are a few tips:
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