Is more always better when it comes to building relationships to win deals in Sales?
People.ai data proves that a non-strategic approach can lead to suboptimal buying groups, and billions of dollars left on the table. How can you be sure you are engaging the right buyers?
In Sales, it’s often considered a best practice to engage as many buyers as possible within any given opportunity to maximize the chance of winning a deal.
However, People.ai analyzed 10M+ activity and contact data points across 250K+ opportunities, and found that more is not always better when it comes to building an optimal Demand Group. Both the number and type of contacts have a large (and disparate) bearing on sales success depending on the product being sold, segment (e.g., SMB, commercial, enterprise), and industry being targeted.
What is Sales to do? With the trove of granular People.ai data, there are strategic ways to optimize around current initiatives, whether that is growing revenue, number of customers, average deal size, or efficiency of sales rep time.
It starts with defining a Buyer Coalition versus a buyer group.
Focus on the Buyer Coalition
At People.ai, we work to transform the way Sales decisions are made, and that includes analyzing how unique combinations of roles affect buying behaviors as a whole, not just the other people they happen to be lumped in with. We have found that by differentiating between a “buying coalition” and a “buying group”, companies can accurately target the right buyers at the right time.
What’s the difference between a coalition and a group?
- Coalition: a temporary alliance of distinct parties or persons for joint action.
- Group: a number of individuals assembled together or having some unifying relationship.
A coalition has a shared purpose and take joint-actions across functions in service of their shared goal. Groups are usually within, but not across, functions. They have similarities, but coalitions have a shared purpose and goal. These are the people who make the buying decisions. They hold the power. And, it turns out, you can find and create them when you use AI-delivered data.
How to Create a Buyer Coalition
People.ai creates full contacts for all potential buyers engaged, captures all relevant activity within that contact, and associates it to the correct opportunity. It tracks all touchpoints for when Opportunity Contacts are engaged, how they were engaged, and who was engaged before and after them, to show not only what the optimal group of buyers is in order to maximize win-rate or deal size, but also how to sequence and communicate to these buyers in order to build a strategic coalition.
You can’t do this without incredibly holistic and granular data mapped to the right Opportunities, which means you can’t do this without AI. Which means, with it, you engage a tool that gives you a clear and strategic revenue intelligence advantage over your competitors.
It’s even more critical to have the ability to confidently target the right Buyer Coalition, as companies shift their sales motion and products. For example, if a company moves from a license-based model to a subscription model, how does that change who you engage with on the buyer side? Or if a company shifts from a hardware-based product to a cloud-based product, will the function that Sales needs to enter the organization change? How will Sales know?
People.ai delivers the revenue intelligence that you can’t get anywhere else.
Learn how we can help your Sales Team strategically engage the right buyers in every deal by requesting a demo of People.ai.