Before we talk about multithreading in sales, let\’s first explore with an example how it fits into the common day scenario.
Think about how most of us work in teams, right? Now, picture this: when you got hired, what if you had only focused on building a strong connection with the person who hired you?
Now, let\’s flip the scenario. Instead of being a lone wolf, what if you took the time to build meaningful relationships with several people on your team? It’s like having multiple supporters, just like in sales, where having one champion is good, but having several is even better.
So, which situation do you think would be safer, more productive, and make you happier? And, importantly, which one is more likely to help you achieve your goals?
The answer is obvious. So let’s see how it plays out in sales in the form of multithreading.
What Is Multithreading In Sales?
Multithreading is a smart sales strategy where you go after multiple leads or opportunities at the same time within a company you\’re trying to sell to. The idea is to increase your chances of making a sale by having more than one \”thread\” or potential customer to follow.
This approach works wonders in industries where sales cycles are long or when it\’s tough to reach the decision-makers. It\’s all about being buyer-centric, meaning you engage with customers on their terms, where and how they prefer.
According to Gartner, using this multithreaded sales strategy can boost your revenue growth. It lets sales teams intelligently coordinate and support multiple people within a buying group. So, you\’re not just focusing on one person, but reaching out to various stakeholders to get everyone on board.
With the rise of technology and digital sales trends, this strategy leverages customer data and automation to make the sales process smoother and more effective. It\’s all about bringing buyers and sellers together in a way that works for both sides.
Multithreading vs Single-threading
Alright, let\’s talk about multithreading versus single threading in sales! Imagine you\’re a salesperson on a mission to close deals and hit those targets.
Single threading in sales is like putting all your focus and effort into one lead at a time. You give it your all, but while you\’re working on that one lead, other potential opportunities might be slipping through the cracks. It\’s like trying to juggle one ball at a time – risky, right?
Now comes multithreading! This sales approach is all about being a multitasking ninja. Instead of putting all your eggs in one basket, you\’re pursuing multiple leads simultaneously within the same organization.
So, why is multithreading a game-changer?
Well, think about it – different people have different roles and influence in the decision-making process. By reaching out to multiple individuals within the company, you increase your chances of connecting with key decision-makers and influencers. It\’s like casting a wider net to catch more fish!
In contrast, single threading can slow you down. You\’re stuck waiting for responses from one lead before you can move on to the next. But with multithreading, you keep the momentum going and the sales cycle rolling.
Another advantage of multithreading is that it\’s customer-centric. You\’re engaging with buyers on their terms, which is essential in today\’s market. People appreciate personalized and timely interactions, and multithreading allows you to meet their needs and preferences.
Sure, multithreading requires excellent organization and coordination skills, but technology is here to help! Sales tools and automation can assist you in managing multiple leads efficiently.
In conclusion, while single threading has its place, multithreading takes your sales game to a whole new level. It\’s like turbocharging your sales efforts – reaching more people, being customer-focused, and ultimately closing more deals.
Why Does Multithreading Matter?
Multithreading matters in sales because it\’s like having multiple hooks in the water at once, increasing your chances of landing a big catch! When you pursue several leads within a company simultaneously, you\’re not putting all your eggs in one basket. It\’s a smart strategy for dealing with long sales cycles and hard-to-reach decision-makers. By engaging with customers on their terms and coordinating with various stakeholders, you build stronger relationships and trust.
Let\’s back up our claim by referring to some data now
Back in 2021, a whopping 86% of sales representatives reported losing deals or experiencing delays because the champion they relied on changed their position.
And you know what?
With all the economic uncertainty and massive layoffs happening in certain industries, it\’s safe to assume that the percentage of such cases has probably gone up even further. Especially for those salespeople who haven\’t embraced a more relationship-oriented and deeply sales-focused approach in their selling strategy.
Plus, with technology and digital trends on your side, you can scale up and streamline the process effortlessly.
In a nutshell, multithreading matters because it helps you coordinate and conquer, turning potential customers into loyal clients!
How Your Organization Can Take The Multithreading Approach
Alright, before we dive into the nitty-gritty, let’s talk about something super important for sales success: knowing who the players are in a company. But it doesn’t stop there, my friend. To rock at selling, you gotta grasp the bigger picture of the organization too. Social selling is all about forming those personal connections and seeing the hidden ties that go beyond what\’s in the CRM data.
So, here\’s a couple of questions to ponder for you and your sales team:
1. Who\’s calling the shots in the company? Who are the decision-makers?
2. And hey, who else can sway those big buying decisions?
3. Last but not least, what do these folks care about the most? Is it all about value or are they more budget-conscious?
Now, don\’t just rely on your existing connections, individual reps, or the CRM to get all this juicy info. Create an account map. It\’s like a super detailed cheat sheet that lays out all this crucial data. A solid account map gives you the big picture of the account\’s organization, spotlighting key players and showing how they’re connected. It\’s like a treasure trove of insights to help you seal the deal!
Organizations benefit greatly by adapting to this approach. Here\’s data researched by User Gems that pertains to how exactly how businesses profit from it:
So now, imagine this: if you can get your team to get into the whole social selling thing, they\’ll naturally start using a multi-threaded approach without even thinking about it. Every team member will keep updating the account map regularly, which means you\’ll always be ready to handle any changes in the company and close deals quicker.
Conclusion
In conclusion, embracing the multithreading approach in sales is a game-changer for organizations looking to boost revenue and build stronger customer relationships.
By pursuing multiple leads simultaneously within a company, sales teams increase their chances of landing big deals and reaching key decision-makers and influencers. Multithreading is customer-centric, meeting buyers\’ needs on their terms. In today\’s market, personalized interactions are essential for success. Leveraging technology and account mapping helps streamline the process, ensuring sales reps are always prepared to handle changes in the organization.
To stay ahead in the competitive sales landscape, it\’s time for organizations to adopt the multithreading approach and see their sales efforts turbocharged for greater success!
