Markets are dynamic systems that create the energy required to fuel change.
When you harness this energy, you can use the forces of evolution to drive market adoption of your technology.
The ability to find the sources of market energy - emerging business strategies, increasing frustration with the limitations of legacy approaches, increasing desire for what your technology enables - is one of the things that distinguishes exceptional sales people.
They know they can't generate enough momentum on their own to sell an emerging technology, so they channel the energy caused by market change and use it to energize the sales process.
Do you need to speed your time to market? Market knowledge improves your ability to spot emerging customer opportunities, so your new solutions get to market faster.
Are you missing opportunities because your sales team calls on the wrong people? Strategy is implemented by business executives, not technical people, so you need to call on the movers and shakers.
Market knowledge helps you figure out who cares.
Do missed forecasts wreak havoc on achieving your strategic goals? If you don't know how fast the market is evolving and who will adopt your new technology first, then forecasting is just guess work.
Guess how often it is wrong? Do you have a high prospect to close ratio? If you don't understand who will buy when, then lots of deals are going to fizzle out.
Knowing who will buy, when improves your sales productivity.
Is your market share eroding? As markets evolve they change.
If you don't understand the dynamics of technology adoption, then you will never end up the market leader.
Top sales performers pay attention to the market.
They are the first people to see the link between the new technology and emerging business strategies.
So they are also the first to bring these new ideas and opportunities to their customers.
First they sell the vision.
Then they follow up on their early successes by subtly transforming their message in response to the evolving buying preferences of the maturing market.
They know how to apply technology adoption theory to help them find the early adopters, build market acceptance of their technology and cash in the fabulous opportunities caused by the geometric growth rates that drive technology markets.
They know how to be in the right place at the right time.
Why harness market energy? Improve your forecasting accuracy.
Forecasting is an important business processes.
It enables management to plan effectively and productively manage resources.
The more accurate the sales forecast is, the more profitable the company.
You are the core of the forecasting process.
If you don't understand the market and the factors that are driving market growth and development, then you aren't going to be able to accurately forecast your sales.
As you develop a market perspective you get better at predicting when the market will expand and contract, so your forecasts are more accurate.
Propose business opportunities to executives.
Market energy causes change that directly impacts your customer' business.
Providing your customers with insightful advice about the market and how to take advantage of emerging opportunities helps them run their businesses more successfully.
It encourages them to trust you.
Mine your existing accounts for new opportunities.
As you refine your ability to predict market evolution, you will find new opportunities to present to your customers.
If you can approach your customers before they approach you, you can become their partner, which is a far superior relationship than that of a vendor.
And creating more business for them means more business for you.
Improve your ability to read your customer.
As markets evolve, buying behavior changes dramatically.
If you know how rapidly the market is maturing, you will anticipate shifts in buying behavior better than your competitors.
Learn how to adapt your selling style and value proposition to the changing buying preferences of your prospects, so you can build competitive advantage.