Technological advancements have a tremendous impact on businesses and commercial activity.  Admittedly, modernisation has resulted in increased efficiency and profitability in production, communication, purchasing, distribution, and advertising. Nonetheless, all the rapid shifts and adjustments, such as an influx of available information, can generate uncertainty and indecision for both businesses and their customers. Thus, a clear and effective sales and promotion strategy to boost sales is more crucial than ever.

 

Innovations have brought an excessive knowledge about different products and services. What’s more, business communications are now taking place in a variety of channels such as emails, websites, social media, and even traditional settings such as meetings and conferences. Easy access to information was advantageous. It did, however, make selling more difficult.

 

Customers, for example, repeatedly ask the same questions or flip between different options. There are certainly too many details for buyers to process, resulting in indecision. What is the best sales and promotion strategy to boost your sales in this condition?

 

In this article, we’ll explore how the most successful salespeople turned the above dilemma into a profitable opportunity—in the form of sensemaking as a sales and promotion strategy. Then, we’ll discuss how it works by assisting clients in understanding the information they received, such as product features and service offers. So they can make the best purchasing decisions. We also look into its distinction from other sales techniques, its features, and how it can be utilised.

 

At Taylor Wells, we believe that the most competent salespeople thrive in a simple yet convincing sales or pricing promotion strategy.

 

Without a doubt, marketers who make sense of their product information utilise the best strategies to boost sales. Hence, we argue that the present information overload requires a sensemaking strategy. By the end, you will discover how to integrate this powerful sales approach into your business.

 

 

The Most Effective Sales and Promotion Pricing Strategy in Marketing

 

Customers who consumed too much information are 54% less likely than others to make a high-quality, low-regret transaction, according to studies. That’s why the best sales agents are equipped with the most simple yet convincing sales and promotion strategy. They assist consumers in prioritising viewpoints, quantifying trade-offs, and resolving conflicting viewpoints. They make sense of the information by valuing simplicity over intricacy.

 

What is sensemaking in your strategies to boost and improve sales? 

 

The greatest sales reps distinguish themselves aside from their competitors and other information sources. They use a Socratic style, for example, instead of telling clients what to think, they help them construct a foundation within which to develop their own conclusions. Regardless of the outcome, the goal of their sales and promotion strategy is to serve customers and boost sales.

 

Salespeople make it very evident when the buyer’s purpose aligns with the supplier’s competencies; conversely, when alignment proves problematic, they bow out early and shift their attention. Before all else, they guide clients in making sense of the information they’ve gathered to make informed purchasing decisions. This method is called sensemaking.

 

Salespeople who use sensemaking as a sales and promotions strategy, assist, organise, and simplify buyers’ product research.

 

For the next sections, we will delve deeper into sensemaking. We’ll answer why it is practical and profitable, compare it with other methods, and then discuss its advantages.

 

Why is sensemaking among the best strategies to boost and improve your sales?

 

When faced with a large amount of information, people frequently rely on cognitive biases to make decisions. Cognitive biases manifest through the following: Anchoring or over-reliance on the first piece of information presented; belief perseverance or clinging to one’s initial concept; and the status-quo bias, which in B2B buying typically translates to clients saying, “We’ve opted to research this more. Give us a call after six months.”

 

What can sellers do? Customer perception is measured in two ways:

 

1. Customer’s decision confidence

 

This refers to the extent to which the buyers believe it has figured out the appropriate questions to reflect on, prioritised the most important data, and found recurring themes. Customers who deciphered the data are confident in their capacity to make a possibly larger, broader, and more impactful decision. They’re 157% more likely than the average person to complete a high-quality, low-regret transaction.

 

2. Trust in the seller

 

When a customer feels that a representative has failed to deliver complete and accurate information because the representative is concerned with serving his or her own interests, things usually go poorly. Customers who are doubtful of a rep’s assertions are 1.6 times less likely to make a high-quality, low-regret purchase than customers who trust their reps.

 

The factors that influence customer perception highlight the value you offer

 

Agents must carefully evaluate when to reveal information, how to convey it, and most importantly, how to tie it to everything else the client is learning, all in order to be perceived as assisting the customer in making a confident, rational decision. How can you tell if what you’re doing is sensemaking? Let’s compare it to other approaches.

 

Sensemaking vs. Traditional Sales and Pricing Promotion Strategy

 

Aside from sensemaking, other kinds of sales and promotion strategies to boost sales include giving and telling. Although each method is beneficial to some extent, sensemaking greatly enhances the likelihood of purchase.

 

A total of 1,010 interviews were held with suppliers to learn about their information-sharing procedures. Around 21% of responding representatives use a sensemaking strategy. 35% rely on telling, 18% on providing, and 26% have no technique at all.

 

No specific demographic variables, such as a representative’s age, years of selling, or years of selling at a given firm, industry, or area, had any real influence on sensemaking competence, the likelihood of employing the strategy, or success with securing a contract.

 

This means that sensemaking sellers are not attempting to address a specific sector or demographic issue. They are concentrating on the fundamental problem of information overload. How about the others?

 

The same B2B customer study found a strong link between sensemaking and favourable outcomes. Approximately 80% of clients who interacted with sensemaking representatives made high-quality, low-regret purchases. Contrastingly, only 50% of customers who dealt with telling reps and 30% of buyers who interacted with giving reps made high-quality, low-regret transactions. Why?

 

Giving

 

Giving as a form of sales and promotion strategy is marked by “more is better” philosophy. Sellers freely provide data, collateral, white papers, product specifications, and other materials because they feel that sharing information, particularly in response to customer demands, moves a deal ahead. It’s a sincere attempt to help purchasers understand more, and it appears to be the obvious thing to carry out. Giving reps frequently press the rest of the organisation for extra information, as if the act of delivering it were sufficient and a convincing demonstration of worth.

 

 Telling

 

A telling sales and promotion strategy is most commonly used by highly knowledgeable reps, who depend on matters such as viewpoints based on years of experience and expertise. They expect nothing from the rest of the company; they’ve already learned or constructed a pitch deck around what they require.

 

Why do sensemaking agents perform so effectively while others lack strategies to boost and improve sales?

 

Two-thirds of consumers believe the claims of sensemaking reps, but only 28% believe the assertions of telling reps and 13% believe those of giving reps. The rationale for the latter’s poor performance is evident: when clients are overwhelmed with high-quality information and searching for a way ahead, more data with little explanation simply makes things worse. It comes off as aggressive and self-serving. It raises customers’ suspicion and diminishes their confidence in their ability to make a decision. What exactly separates sensemaking reps from the rest?

 

The Difference Sensemaking does to boost and improve your sales

 

sales and pricing promotion strategies to boost and improve sales

 

We categorise sensemaking behaviour into three: providing clients with properly curated content; clarifying such knowledge through simple descriptions; and working together on customer learning through Socratic discourse.

 

Sensemaking keeps customers in touch with useful resources.

 

Sensemaking agents filter the information they offer for utility and clarity, including only what will assist consumers in progressing with greater confidence. That information, for example, may confirm or refute a customer’s previous thinking, but in either case, the goal is to advance the purchasing process.

 

Furthermore, sensemaking reps are open about their knowledge gaps. When mistrust can be so detrimental, there’s a clear advantage to simply responding, “I don’t know,” rather than fabricating a half-truth that can be easily fact-checked. Recognising one’s shortcomings can establish a compelling connection with purchasers, who are likely unaware as well.

 

Sensemaking as one of your strategies provides clarification to boost and improve your sales.

 

The key to success in sensemaking is to increase a customer’s belief that the salesperson understands the difficulty of a purchase decision. This implies assisting clients in feeling confident that they asked the appropriate questions, grasped opposing viewpoints, and prepared for any uncertainties. Sensemaking sellers excel at simplifying complex subjects, explaining technical knowledge, and transforming abstract notions into digestible, shareable, and persuasive solutions.

 

In a nutshell, they provide customers with just enough information and then assist them in meaningfully interpreting and simplifying that information, resulting in a consistent, logical, and convincing narrative that boosts client confidence.

 

Sensemaking helps boost customer awareness.

 

A sensemaking representative guarantees that the judgments formed by clients are their own. The idea is to take buyers through a learning process in a Socratic manner, such as asking questions that are intended to lead to a point you want to make, rather than telling them what to do. Consequently, sensemaking sellers empower customers to verify information and provide an easy option for them to do so.

 

They offer a good framework for learning that gives customers a sense of control. In return, this confidence raises the potential that purchasers will decide rather than postpone or wait.

 

Sales and Promotion Pricing Strategies to Boost and Improve Sales

 

How do all these sensemaking behaviours materialise in real-world business scenarios? Dealertrack, a company that supplies dealer management software (DMS) to auto and equipment dealers, was well aware that clients fail to extensively upgrade their DMS systems for three reasons:

 

For starters, because dealerships rarely replace systems, learning about the vendors, solutions, and features might take months. Second, they usually lack standardised procurement processes, resulting in long talks, setbacks, new voices, new vendors, and new information. Third, their decision-making processes are rarely straightforward. For instance, dealers may reconsider their judgments and go one step ahead only to take two steps back.

 

Thus, Dealertrack reinvented its discussions to better lead clients through their concerns. It switched from supplying information to sensemaking. They started a journey to sensemaking by conducting in-depth client interviews focusing on the following questions: What were the critical stages in customer decision-making for a successful DMS purchase? And what were the signs that clients had reached them?

 

Based on the interviews, Dealertrack decided to focus on assisting clients in four stages: problem identification, solution development, requirement generation, and supplier sourcing. Sales personnel steered consumers to information that would help them at each stage. The marketing team kept an eye on areas where progress lagged and created optimised collateral and content. What did they gain?

 

Sellers profit from using sensemaking as their sales and promotion strategy:

 

1. Businesses should concentrate on their core competencies.

 

The goal is to make clients believe their decisions, interpretations, and choices are their own. To demonstrate, when some criteria or considerations favour their own solution, sensemaking sellers emphasise plausible, objective explanations why those criteria or considerations should matter more. As previously noted, the likelihood of closing a business wanes the instant impartiality is lost and client distrust sets in.

 

Successful sensemaking organisations also have pricing teams in place. In fact, businesses with the strongest sales and pricing strategy regularly generate an additional 3-7% profit each year by identifying significant and previously unrealised options, efficiencies, and risks.

 

 

2. Businesses should ensure their customers are empowered to make higher-risk decisions.

 

Most sales managers would say that their biggest competition is not a rival vendor, but rather the status quo. Hence, the biggest challenge for sellers of complex solutions isn’t a lack of desire to make a purchase; it’s the unwillingness to take more than gradual or safe actions.

 

In truth, sensemaking is intended to improve the possibility that a consumer would not accept a smaller solution at a lower price—or, even worse, make no decision at all. It’s designed to help with hesitation and lack of confidence.

 

At Dealertrack, for example, sensemaking has significantly reduced halted deals. Sales teams report improved stakeholder alignment and fewer unexpected conflicts. Deals are closing faster, and the response has been extremely good.

 

Bottomline

 

Consumers are likely to make high-quality, low-regret purchases if they are certain that they have asked the proper questions, prioritised the right information, and recognised consistent trends. The most successful sellers—the sensemaking sellers—empower clients to make sense of overwhelming amounts of information and take bold, decisive action with confidence and peace of mind. 

 

For a comprehensive view and marketing research on integrating a high-performing capability team in your company,

Download a complimentary whitepaper on How To Maximise Margins.

 


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