How to Sell to Net New Cloud Customers
In our previous blog post, we shared that we’re releasing a series of content outlining ways you can optimize your Cloud sales strategy to drive long-term revenue growth. One key area of Cloud sales transformation to tackle is selling to Net New. Just last week, we released an infographic to help you in selling to Net New Cloud customers. Let’s delve into the topic so that you can apply the advice to your sales practices.
According to Bain & Company, Cloud market revenue is expected to reach nearly $400 billion worldwide by 2020. Further, Line-of-business executives are now making as many IT decisions as their CIO counterparts, increasing the number of buyers. With organizations racing to capture new Cloud customer market share, how do you best engage Net New buyers and their expanded pool of decision makers?
There are typically two types of Net New buyers: the new-to-the-Cloud buyer and the new-to-your-Cloud buyer. It’s critical that sellers identify which type of Net New buyer they’re selling to in each case, and then understand the buyer’s use case and business needs. While new-to-the-Cloud buyers are often apprehensive about data security, averse to change and, in general, intimidated by the daunting task of moving to the Cloud; new-to-your-Cloud buyers are typically resistant because they’re already entrenched with another technology service provider, have to include multiple decision makers in any decision, and are unsure how your technology would work within their existing stack.
To address new-to-the-Cloud buyers’ concerns, you need to:
- Identify projects with less risk to help ease the buyer into the Cloud
- Provide examples of firms who successfully adopted Cloud to solve similar challenges
- Walk the buyer through how you’d migrate them to the Cloud’s scalable, secure solutions
To address new-to-your-Cloud buyers’ concerns, you need to:
- Educate them on the process of shifting from a Cloud infrastructure to a multi-vendor, integrated Cloud stack
- Articulate how Cloud solutions benefit specific line-of-business projects and workloads, and integrate line-of-business expertise into the sales conversation
- Walk the buyer through how complementary products and services enhance their current Cloud technology
In both cases, the message to the buyer needs to be focused around education and instilling confidence in the potential purchase decision. To transform the buyer into a believer, you need to formulate a narrative that personalizes the value of the product, based on research – of the buyer’s business and market, and the competitive landscape – and bolstered by relevant case study examples. This is about taking a proactive approach to fostering a relationship, and addressing questions and challenges to ensure they don’t become barriers.
You can view the infographic here. In case you missed it, check out our latest eBook for broader Cloud sales strategy advice – and stay tuned for even more upcoming advice on optimizing your Cloud sales strategy.
Contact us today to find out how N3 can help you improve Net New Cloud customer sales as you transform your sales strategy.