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4 Stats That Show How B2B Buyers Suffer From Information Overload (And Why The Salesperson Is As Critical As Ever)

Consider these stats:

  • In 1991, Tim Berners-Lee, founder of the world wide web, published the first website (info.cern.ch). Ten years later there were over 29 million websites and today there are over 1.8 billion.
  • Google, when launched in 1998, processed around 10,000 searches a day. It now receives around 2.5 billionqueries a day.
  • Last year there were over 600 million active blogs. 70 million new blogposts are published each month on WordPress. Nearly 80% of the Fortune 500 uses a corporate blog to communicate to their customers.
  • There are 57 million companies on LinkedIn. 2 million posts, articles and videos are published on the platform every day.

It’s all a far cry from the pre-internet days when information was scarce and a client’s ability to compare one supplier against another was limited. Today the pendulum has swung so far in the other direction that there is now too much information out there. The result is information overload for buyers. Buyers report that two-thirds of their buying journey is spent on gathering, processing and deconflicting information.

In addition, the word “buyers” is no longer correct. Buying groups are increasingly common in B2B sales. Research from Forrester shows that 63% of purchases involve four or more people, each of whom is likely to represent a different department and to play a different role in client decision-making.  With numerous stakeholders involved on the buyer side, each independently uncovering information from different sources, it is easy to see how buyers find it difficult to find agreement between themselves about how to proceed.

It falls to the salesperson (consultant, account manager) to help clients to make sense of the information they have uncovered, to help them to deconflict contradictory evidence, to challenge their thinking and to coalesce them around a solution.  Doing so enables the salesperson to demonstrate their knowledge, to establish credibility and to create that trusted partner relationship that creates the right environment for a sale to proceed.

Jim Bloomfield is a Director of Bloojam Consulting with 20 years’ experience of using business psychology to develop salespeople and leaders. He is a member of the Association of Business Psychology (ABP) and the British Psychological Society (BPS) and has successfully helped some of Britain’s best-known businesses exceed their sales goals.

Blogs Consulting Human Resources Leadership Development Learning & Development

Driving Culture Change Using 360 Programmes

360 Programmes Beyond The Individual: Driving And Measuring Culture Change

Most people remember their first 360 feedback; the first time they’ve heard how their colleagues really see them.  The really great leaders I speak to have embraced the feedback, responded and been on a development journey (pardon the X Factor cliché) ever since.

I passionately believe in the power of a well-delivered 360 programme (see our previous blogs about 360 best practice).  Some of the immediate benefits are:

  • Increased self-awareness for the individual; clearly seeing their strengths and development areas, and opening up their blind spots, this gives a clear basis for ongoing development
  • Good 360 analytics can provide insights into training needs for teams and departments, helping to effectively target training and development budgets and identify quick wins such as peer mentoring

Longer-term, 360 feedback alongside other L&D and employee engagement interventions, can help to underpin culture change programmes for the organisation:

  • Regularly repeated 360 programmes can encourage a feedback culture that helps colleagues to give each other constructive feedback on a day-to-day-basis
  • 360 surveys that are structured around a well-designed competency framework clearly articulate what ‘good’ looks like, providing a shared understanding of what behaviours should be aspired to. Competency frameworks can include motivation and values elements that also underpin the desired culture.
  • Regular 360 cycles can help to measure the success of culture change programmes, using analytics to understand the extent of the movement towards the desired behaviours and where further interventions are needed.

Somebody’s first 360 can be quite an emotional experience, but that’s because it gets to the heart of what’s important in their role, to their colleagues and for their organisation.  Harnessing that insight can pay dividends for individuals, teams and change programmes.

Sarah is a Chartered Business Psychologist and a Director of Bloojam Consulting.  With 20 years’ experience working in selection and development, she is passionate about using evidence-based approaches to add demonstrable value to both the individual and the organisation.

Blogs Business Consulting Human Resources Learning & Development Sales Development

How HR Can Influence Business Leaders To Develop Their People

Helping HR To Speak The Language Of Business

When we see HR leaders and Sales leaders together around the table it can be interesting to hear the different language being used.

HR professionals often talk in people terms such as ‘talent’ ‘personal development’ and ‘engagement’.  They often see the value of robust selection and development practices in terms such as ‘talent pipeline’, ‘succession planning’ and ‘future leaders’.

Sales leaders often talk in terms of ‘targets’, ‘revenue’ and ‘sales performance’.

But, these are essentially two sides of the same coin.  Drawing a line between the two will help you to make the business case for using robust assessments for selection and development.   Here are some ways to support your argument for more ‘people’ focused activities that all business leaders can buy into.

  1. Reduce the risks and costs of wrong decisions

A good assessment process tells you more information about an individual than you can ever get in an interview alone. For example, an expert-led discussion with them about psychometric survey results will give you an invaluable insight into a person’s strengths, preferences, values, drivers and areas for development.

Armed with this rich information, you can make informed decisions about whether a candidate will perform well against the critical job criteria, whether your employee is ready for the next level of role or how to best spend your training budget to meet the specific needs of a team or department.

  1. Show me the money

A powerful business case will demonstrate the return on investment based on identifying the costs associated with poor selection or promotion decisions.

Questions to consider include:

  • How much does the recruitment / selection process cost?
  • How much does it cost to train someone in the new role?
  • How much does it cost the business while they are getting up to speed?
  • How much does it cost in re-training or performance management if a team member is underperforming?
  • What impact does it have on others if someone is underperforming? E.g. colleagues “carrying” their work, re-training them or becoming demotivated themselves; managers demotivating their team; a leader getting the direction wrong for the whole business.

Based on the answers to these questions, you’ll find that the cost of a robust selection process is a drop in the ocean in comparison. Click here for a useful ROI calculator to get you started.

  1. Provide the evidence

If you want to add even more weight to your business case, a validation study will link the results of the assessment method to key performance indicators in the role.  Take the example of a sales team; if you can identify which elements of personality and behaviour will drive sales performance then you can show the associated increase in income to the business if everyone was recruited against this profile. To see an example of how this has been done click here for more information.

  1. Hone your training budget

Using personality questionnaires, 360 surveys and other tools shows that as a business you are willing to invest in your people and their professional development. Using these as part of a development process can create a culture of self-awareness and self-development that didn’t previously exist. It can also provide team, department and organisational level themes that need to be addressed, thereby enabling you to make the best use of the training budget rather than taking a more costly “sheep dip” approach. Providing cost saving figures for your business leaders will again support your argument and help you to achieve your people aims.

In summary, an objective business case outlining the costs of getting it wrong and the value of getting it right can speak the language of senior peers and the C-Suite, helping HR leaders reach their own objectives while bringing other business leaders with them.

Sarah is a Chartered Business Psychologist and a Director of Bloojam Consulting.  With 20 years’ experience working in selection and development, she is passionate about using evidence-based approaches to add demonstrable value to both the individual and the organisation.