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:
Are you paying too much for your contact center software? Are you satisfied with its capabilities, or do you wish it did more? These are questions most businesses don’t take the time to think about, even though contact center software is one of the most important investments that you’ll make. With a little bit of planning, you can end up saving money and still end up with better functionality. more
Video conferencing is quickly becoming one of the most important communication channels for both small and big businesses. As more businesses turn to this technology, expectations about the experience are also rising. It’s not enough to just offer video conferencing as a communication method. You also need to meet minimum audio and visual standards, and there’s even proper etiquette to consider. more