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A salesperson may see their role as convincing buyers that their solution is the right choice. In a complex B2B sale, that is only part of the job. The buyer also has to become confident that they are making the right decision.
This approach matters enormously right now. Buyers are nervous about making mistakes, particularly in today's economic environment. Simply continuing to promote a solution does little to ease that uncertainty. Helping buyers navigate the decision itself, and become more confident in the choice they are making, does. That is one of the most important purposes of effective opportunity management.
Once a legitimate sales opportunity has been established, the seller begins developing a clearer picture of the decision ahead. The challenge is bringing what they learn into a useful landscape of the opportunity.
That landscape should help answer questions such as:
In many sales organizations, pieces of this information are scattered throughout CRM notes, while a considerable amount remains in the salesperson's head. Neither gives the seller the clear picture needed to decide where to spend their sales calories next.
Knowing everyone's names and titles is not the same as understanding their decision making process.
One executive may have considerable organizational authority but relatively little influence over a particular purchase. Someone with a less impressive title may have enormous credibility with the other decision makers. Another person may appear supportive but remain skeptical that the organization needs to make a change at all.
Without understanding those dynamics, sellers tend to default to activity. They schedule another meeting, send another follow-up and speak with whoever is most willing to speak with them.
That is chasing an opportunity.
Good opportunity management gives the seller a better question than, "What can I do to keep this deal moving?"
The question becomes: What is the most valuable action I can take next?
Perhaps an important decision maker's priorities are still unclear. Something learned three weeks ago may need to be validated. A skeptic may need to be better understood. Or the landscape may reveal that the factors required to win simply aren't present.
That last possibility is important. Opportunity management should help sellers move winnable deals through the funnel and identify unwinnable ones early enough to stop wasting valuable sales time.
The objective is to manage the opportunity, not chase it.
This is where opportunity management becomes particularly important for the buyer. A seller who understands the landscape can coach decision makers through their customer decision journey, helping them surface concerns, account for different stakeholders and identify what they still need to know to make a sound decision.
Particularly in today's economic environment, buyers aren't only asking whether they trust the salesperson or the solution. They're also asking themselves: Do I trust myself to make this decision?
More persuasion won't create that confidence. Helping buyers make a good decision will. That is ultimately the difference between chasing an opportunity and managing one.
That is what Funnel Clarity's Navigating Sales Opportunities© program is designed to teach. Sellers learn how to capture and interpret the information that matters throughout complex opportunities, determine the actions most likely to advance a sale, and help buyers navigate their decisions with greater confidence. You can learn more about this training here.
