June 23

Do CX vendors need to reassess their sales strategy?

With large organizations realizing the value of the CX, we are seeing business leaders paying more attention to this area and playing a bigger role in selecting CX technology. This means investments are no longer the exclusive purview of the IT team but has expanded to include a number of business stakeholders who may not have the technical expertise of IT stakeholders. 

At the same time, technology is evolving at a breakneck pace, and many newly established stakeholders are having trouble understanding how these technical developments can transform into business benefits. This means businesses will have to reassess their sales strategy and how they convey the benefits of their technology to ensure that different stakeholders understand how platform features can translate into business benefits.

If CX vendors are to successfully sell their platform, they will need to reconsider their sales strategy and how they communicate their value proposition to potential clients.  

How can the sales strategy improve? 

Vendors need to pay attention to the message and how it is dispensed. A survey revealed that over 41.7% of companies prefer vendors to hold joint sessions with IT and business leaders to discuss technical details and business value. Gives vendors an excellent opportunity to deliver both technical and business messages directly to a potential client. 

However, over 31.1% of research participants say they prefer companies to explain the technology to IT staff, with the internal team responsible for explaining the business value to stakeholders. However, this approach is risky because the vendor must rely on IT staff to explain the value proposition. Vendors need to refine and perfect their business message to ensure that IT teams understand the value and convey it correctly to business counterparts. 

Regardless of the strategy selected, vendors must deliver unique value after the sale. Over 60.1% of organisations require help in training IT teams on managing vendor platforms. 57.8% of companies prefer “how-to” guides, 49% want FAQs, 35.7% want videos, and 25.1% want illustrations on using the platform.

Moreover, vendors will also need to develop a better understanding of the key decision-makers, funders, and influencers within the company because they will play an integral role in deciding whether they should invest in a vendor.

What can CX vendors do going forward? 

With over 50% of technology buying decisions made by multiple stakeholders, we are seeing the decision-making process become more complex and time-consuming, it will be critical for vendors to reassess their strategy by accounting for different stakeholders. 

Regardless, as organizations maximize business value from their platform, the strategy for winning over new clients will evolve. You will need to emphasize how a platform can maximize value by not only streamlining complex technical operations but also improving customer retention and maximizing CX ROI.

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