In today's rapidly evolving sales landscape, the challenges facing B2B sellers are more complex than ever.
In a recent survey conducted by Walnut.io, less than half of sales teams say they are confident they will meet their quotas this year. Yet, more than 90% of software buyers plan to maintain or increase their spend outlook in 2023, according to the latest G2 Buyer Behavior Report.
There’s a gaping disconnect between buyer intent and sales outcomes.
As G2’s VP of Partnerships & Enablement, I have the privilege of working with our expansive partner network to deliver integrated solutions that help B2B sales and marketing professionals overcome these industry challenges and deliver on their goals.
6 ways to navigate the current SaaS climate
Recently, during our company-wide Midyear Meetup in Chicago, I was able to sit down with leaders from four of our partners – Martin Cattaneo from ZoomInfo, Drew Wills from Gong, Dante Gordon from Salesloft, and Tom Reeves from Clari – to discuss the current climate in SaaS for modern sellers, how to navigate those waters, the dynamic of selling to sellers, and much more.
Below are my key takeaways from our discussion.
1. Understand the market dynamics
Drew from Gong emphasized the importance of staying in touch with market shifts. He noted that companies are increasingly consolidating their solutions, moving away from point solutions.
This shift means that decisions are getting pushed higher up in organizations, requiring buy-in from more senior roles, especially finance. Sellers must be agile, responding quickly to these changes, and focusing on helping companies consolidate and reduce costs.
2. Engage multiple stakeholders
Tom from Clari highlighted the importance of multi-threading in sales conversations. With the rise of CFOs and CIOs in the decision-making process, sellers must be prepared to engage with leaders across the organization, tailoring their pitch to each leader's unique perspective.
3. Measure ROI effectively
Dante from Salesloft pointed out that as buying decisions move up the hierarchy, sellers are not just competing with direct competitors but also with strategic investments across the board.
To succeed, sellers must tie their solutions to the company's most critical strategic initiatives. Drew added that sellers often rely on their data to demonstrate ROI, but it's more impactful to ask customers how they would justify their investment and what metrics they would use.
4. Leverage partnerships
Dante emphasized the importance of partnerships in the modern sales landscape. With buyers having access to vast amounts of information, sellers must leverage their partners' insights and relationships to gain a competitive edge.
Martin from ZoomInfo echoed this sentiment, highlighting the power of scale that partnerships bring and the need to offer holistic solutions to the market.
5. Be authentic and build trust
Selling to sellers presents a unique challenge. Tom stressed the importance of authenticity, advising sellers to be genuine and avoid over-promising. Drew added that breaking the fourth wall and being transparent about the sales process can be beneficial when selling to fellow sellers.
6. Focus on mutual value
Dante highlighted the importance of thinking about mutual value in partnerships. Successful partnerships are built on a foundation of give and take, where both parties benefit. This mutual value exchange fosters trust and deepens relationships.
Keys to success
The modern B2B selling landscape is fraught with challenges, but by understanding market dynamics, engaging multiple stakeholders, measuring ROI effectively, leveraging partnerships, being authentic, and focusing on mutual value, sellers can navigate these challenges and achieve success.
As the industry continues to evolve, staying agile and keeping the customer's needs at the forefront will be key to thriving in the B2B sales arena.