Here are the top 3 trends shaping virtual selling. They are the roadmap for making sales more human in our increasingly virtual sales environment.
The Next Big Thing in Co-Selling
Organizations have flourished by embracing virtual sales. Let's look at 3 big reasons why the next big thing in Virtual selling & Co-Selling is optimism.
At this time, we're all looking to the future. It's time to reset for growth. If you've been looking ahead with anticipation, it's a good thing. Here's why.
With Co-Selling, the outlook for the future is optimistic.
Many B2B leaders are expecting digital interactions from pandemic-induced changes to stick. In a recent McKinsey report, leaders agreed that by embracing virtual sales, their sales organizations have flourished.
Flourishing in a time of unprecedented change may seem like an unusual combination. Yet, when you examine the causes and conditions, it makes perfect sense.
Let's look at 3 big reasons why the next big thing in co-selling is optimism. Virtual selling and co-selling are creating an optimistic outlook.
01. Lower The Cost Of Sale
In sales, we're always looking at the profit and loss equation. Simply, the question is, "how can we lower the cost of the sale?"
With digital selling, sales costs get slashed. It's not rocket science. It's much more like common sense. When viewing the big picture of selling, interacting remotely translates into huge savings on travel expenses. Virtual sales are easier to schedule, less expensive, and safer. It's exactly what decision-makers prefer.
It means no planes, trains, and automobiles. No hotels. No expensive conferences. No in-person sales meetings, conventions, and visits. No expensive dining and entertaining.
All the focus is on one thing: the virtual sale. Once you 'do the math' you'll see the cost savings. This is a compelling reason and explains why small, medium and large businesses are flocking to digital selling.
02. Expand Your Sales Reach
Now that we've handled lowering the cost of a sale, let's look at the next big reason for optimism. Virtual selling and co-selling enable you and your sales team to extend your reach.
It applies across the board to all manner of broadening your impact. Who doesn't get excited about being able to reach more target customers more easily for less money?
While we're talking about extending reach, let's count the ways. We can easily extend reach geographically. By using data and virtual selling strategies, it's easier to identify and reach people in key geographic regions. We can spot an opportunity and generate sales regionally, nationally, and globally.
Reach also extends to business lines, industries, and departments. By focusing on our ability to match customer needs to our offering, it's a whole lot easier to make warm introductions. With co-selling, warm introductions connect us to the people who are looking for our products, services, and solutions.
Additionally, virtual selling is a powerful way to identify and serve different niches. Once your sales team sees an appetite for your solutions, you can serve parallel niches quickly and efficiently.
The same benefits apply to reach demographics. Let's say your team on the East Coast notices an uptick in sales to a specific target audience. Within minutes, not months, you can expand your reach to people of similar demographics.
Naturally, the same kind of expansion of reach applies to psychographics. With sales data, it's easier and faster to identify parameters that align with your audience. Perhaps they use software that is uniquely compatible with yours. Maybe they identify with specific design trends and ideology. With virtual sales and co-selling, you don't have to wander around in the dark. You can identify your audience and expand ways to reach them.
No wonder business leaders are optimistic about co-selling. It's a way to expand reach by geography, business, niche, demographic, and psychographic.
03. Improve Sales Effectiveness
Sales leaders are the heroes and heroines of business. The real reason is that they live by the goal of never-ending improvement. When you're looking for ways to improve sales effectiveness, you jump into innovating.
With this compelling drumbeat, you will keep asking yourself different questions. You just don't stop. Even if you get kind of annoying to your friends, co-workers, or partners…you are driven.
If you are devoted to improving sales effectiveness, you're always looking for ways to get better. My hunch? You're asking questions that jumpstart fresh thinking. Questions like:
How can we delight our customers?
How can we share best practices amongst teams?
How can we reward internal collaboration?
How can we encourage and reward partner collaboration?
How can we build collaborative selling into our sales culture?
No doubt, you've got more questions of your own. I hope that you never stop asking them. By staying devoted to continuous improvement, one thing is certain. You will get the answers. You will listen. You will encourage conversation and dialogue. You will find out what truly motivates people and how to sustain a culture of collaboration.
Optimism is not just a happy moment or being born under a lucky star. Optimism is where opportunity meets the right state of mind. It's a unique constellation of outlook, precision, data, and practices.
Supporting Co-Selling In Your Organization
Thinking like this, of course, gets the creative juices flowing. The big question that emerges is, "How can you support this in your organization?"
This is a vital question that sales leaders are asking. As you begin to ask this question, I bet you'll notice it leads you to two big categories.
First, hindrances and obstacles.
If you understand the current or future obstacles, it's easier to address them. These may be ways of thinking, communicating, or practicing sales efforts. Perhaps it is an outdated mode of preparing and training your sales staff. Maybe it's a sales manager who just isn't on board.
No one loves looking at obstacles and examining what could be stopping progress. Yet, it's a very valuable investigation. Once you identify barriers to progress, you'll know what it takes to build successful co-selling models.
The second, efficiency.
When you understand how to do more with less, how to do more virtually, how to integrate co-selling from the start…you have a blueprint for efficiency.
The answers will vary across different organizations and sales teams. Many sales leaders I'm talking with are finding that open conversation is the key to move forward. Consider holding an old-fashioned, yet virtual, town-hall type meeting. Many of my clients find it a great way to engage their teams. When you ask your sales teams what is getting in their way, they will tell you. They'll be upfront and candid about the software they hate and reporting processes that eat up their time.
When you ask for ideas about how to co-sell more efficiently, they will also have a burst of ideas. Now, it's up to you to do the next most important thing: listen. Listen to ideas, innovations, and design new ways to support co-selling.
As you optimize your virtual sales performance, you can join successful businesses that are shaping the market and realizing significant revenue potential. Partnership Co-Selling is how you can virtually qualify B2B sales opportunity. You can use this to boost sales, expand your network, and grow profitability.
Using a platform like CoSell.io is the simplest way to get your sales team on board. CoSell is a robust platform that makes it easy and fast to automate and scale collaborative co-selling across sales teams.
If you’d like to explore how partnership co-selling can help you and your team boost sales and win major clients fast - check out our selection of free eBooks.