There are countless sales and marketing strategies that lead to success, but only one component that every successful sales organization shares.

That trait, according to a Global Innovations study, which analyzed more than 80% of companies worldwide, is buyer engagement — giving customers an active voice in company initiatives.

The study found sales organizations that solicit regular feedback from their customers:

• saw profits grow at a rate three times higher than companies that didn’t engage buyers.
• had 65% higher shareholder return (for publicly-traded companies), and
• enjoyed twice the return on spending and expenses.

With that in mind, here are a few strategies to keep in mind when engaging buyers in an ongoing dialogue:

1. Don’t try to engage all of your buyers at once: Target different segments, based on past buying history, SIC or region. It’ll provide you with precise feedback without inundating customers with constant e-mails or requests.
2. Create an engagement team: Have specific salespeople take ownership of buyer engagement issues, and be sure they report back to you regularly regarding their progress.
3. Step up your company’s social networking presence: There’s no better resource for engaging large segments of buyers instantly.

What does your company do to engage buyers? Share your strategies in the Comments Box below.

Source: “New Product Blueprinting” by Dan Adams

Tags: buyers, customers, engagement, feedback, Global Innovations, marketing, social networking, study