Have you adapted your competency framework to changing buyer behaviours?
It won’t be news to you that B2B buyer behaviour has changed….
Buyers are empowered, digitally savvy, and demand personalised solutions. They are conducting more of their own research than ever before, for example, did you know that 41% of buyers will want to read at least 3 pieces of content before engaging with a sales rep? In fact even calling it ‘buyer’ behaviour seems outdated as the number of decision-makers in the buying process has increased which is one of the reasons that the buying process has become longer.
This raises the question, are your reps equipped with the right skills, behaviours and knowledge to work with this new buyer behaviour?
In a poll we conducted a while ago, over one third of Enablement leaders said that they had never refreshed their competency framework and 20% said that they updated less than annually. So when such significant changes as these have happened, not enough focus is likely to be placed on some of the key skills, behaviours and knowledge needed to succeed.
These might include:
Active-listening - now more than ever buyers want to feel that their specific pain points have been heard and understood and receive a solution that is personalised to them
Technological savviness - with buyers conducting so much research and often engaging with information before speaking to anyone, it is important that reps know their way around their various digital tools and platforms as well as their own social channels to gather insights and engage with buyers on their own terms.
Multi-stakeholder engagement - working with one buyer can be challenging enough but communicating with multiple stakeholders is a different skill. Understanding their differing pain points and priorities and the key drivers for each of them is important.
Collaboration and relationship-building - this becomes particularly important in a competitive landscape where buyers are so well-informed. In a longer buying process with many stakeholders, a good relationship with your internal champion will also help you both to identify the most frictionless ways to navigate the journey.
Continual learning - In a world of consultative selling, staying up to date with news and trends means that you can continue to add value to the buying process and to your potential buyer.
When we studied the most popular competencies in 2022, only one of these examples ranked in the top 5. Pipeline management was also one of the competencies with the lowest ratings which should also command more focus in a challenging economy with prolonged buying cycles.
If you think it’s time to refresh your competency framework then it’s a good idea to look at the business objectives and levers that you want to impact. Using the levers of Sales Velocity, as Kunal describes in this recent webinar, can be useful to identify the gaps in skills, behaviour and knowledge that are impacting success.
And remember, this should not be a ‘one and done’ exercise! You should ensure that it constantly reflects the competencies that are most important to achieve your business goals and therefore the ease of maintaining this is key. If you could like to find out how our intelligent competency assessment platform can help you to achieve this then get in touch - we’d love to hear from you!
