Many organizations do not have established metrics that provide insights into the stages of the buying process, according to a survey conducted in April through June 2014 by The Annuitas Group. The survey found that more than 63 percent of organizations don’t measure what engages the buyer.
That’s terrible news because this insight holds the key to helping us create more of the business proposal content that inspires buyers to act.
What if the program used to generate a business proposal could also track the behavior of that proposal’s recipients? The results would be invaluable. The sales department would close more deals, and learn how to do so faster.
Here are some insights that would help give sales agents an edge in negotiations:
1. What your buyers look at.
Document analytics is the key to determining what’s working in business proposal content, and what’s not.
If many buyers open the document and skip down to the last page, that tells the agent only the information on the last page is important to the audience. Future business proposals can be much shorter and help direct the buyer to make the conversion faster.
If buyers skip over the pricing table or order form, maybe it’s not presented in a way that’s visually appealing or it needs to be positioned differently in the document. The sales agent can reach out and ask buyers for thoughts on pricing options to find out what caused them to skip the section.
2. How long your buyers look at it.
One of the key metrics document analytics can reveal is the time buyers spend reading a business proposal and each of that document’s specific parts.
If buyers spend a disproportionate amount of time on one section, that section might need clarified or broken up into easy-to-read points. If buyers scroll through several pages of text, but slow down on pages with images and videos, agents would note to cut down on the text and include visuals on every page.
3. What drives your buyers to respond.
Knowing what buyers like or respond to gives sales agents a definitive edge in negotiating a sale.
For example, let’s say sales sends a business proposal with multimedia integrated throughout to engage the buyer. The document analytics tracks the buyer’s views and clicks and notices he/she fills out the order form or signs almost immediately after watching the last video.
The buyer skipped the second and third videos, which would indicate the agent could remove those from the next proposal. Since that last video seemed to be what drove the conversion, the agent might place that at the top of the document to engage future buyers faster.
When sales agents don’t use analytics in their proposal process, they’re robbing themselves of the opportunity to improve content. Just as the market adapts to the changing demands of buyers, sales content needs to do the same. The only way for sales agents to gain a competitive edge is through receiving the right feedback about what engages buyers.
How do you think buyers react when they read your business proposals? What insights do you want to know?