Are there any sales methodologiese to increase the success rate in transactions with customers row? Come with Viindoo software right away with the 10 effective sales formulas below!
What is a sales methodology?
A sales methodology is a structured approach or collection of principles that directs your sales representatives in successfully securing customers. It transforms objectives into practical steps that your reps can follow at each stage of the sales cycle, enabling them to effectively navigate the sales process and achieve desired outcomes.
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The NEAT point-of-sale system
The key point of this approach is the letter N in the word Core Needs. This method focuses on specific and deep pain points of the client. Specifically, the NEAT sales system has the following elements:
- N (Core Needs) Core needs. Salespeople need to research and learn about the importance of the product to potential customers.
- E (Economic impact): Economic impact. Businesses need to show customers the economic impact that the product/service brings to them as well as the changes from those impacts.
- A (Access to authority) Access. Who makes purchasing decisions? How can we reach decision-makers?
- T (Timeline) Time. The timeline by which the prospect will make a decision. If I miss this moment, will it affect the customer's final decision?
NEAT Sales System
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Spin Selling - Smart sales strategy
Spin Selling strategy will help businesses ask key questions in conversations with customers. The questions in Spin Selling help businesses identify the needs of potential customers and incorporate those needs into the company's products. This method is often applied in the B2B sales process and is especially suitable for businesses that provide administrative, financial, or urgent services.
Specifically, the Spin Selling Strategy consists of 4 questions:
- S (Situation question): Situation questions will help businesses collect information about customers and their lives before introducing products.
- P (Problem question): This question will help businesses probe customers, with the purpose of making them search for products.
- I (Implication question): Implicit question will imply the consequences that will happen with the customer's problem. From there, businesses will have the opportunity to introduce the good points of the product to properly touch the needs of customers.
- N (Need pay-off question): Closing the conversation with customers by indirect marketing and driving potential customers' shopping needs. This question should paint an overall picture of the advantages and positive impact of this solution/product on the customer's problems.
Smart sales strategy
Sales methodologies from the customer's point of view (Conceptual Selling)
Conceptual Selling is understood as a sales method based on customer perception. According to this method, what the customer buys will be the solution that the business provides, not the product.
Therefore, salespeople need to determine the perception of potential customers about the product and ask the following questions:
- Information: Identity what customers need
- Opinion: Identity potential customers know and expect What they want about the product
- Attitude: Get to know the customer and the problem they care about
- Commitment: Learn about the customer's efforts in finding a solution.
- The Basics: Consider the Possibilities and Obstacles that Affect the Transaction and Purchasing
The Conceptual Selling method will sell by focusing on listening to the customer. Applying this strategy will help businesses gain more information and find solutions for their customers.
Sales method from the customer's point of view
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Sandler Selling sales methodologies
Sandler Selling method is mainly based on the principle of "win-win" in transactions between customers and sales staff. If during the exchange, sales staff feel that the customer is not suitable, they will give up instead of trying to convince the customer to buy the product.
Sandler Selling is built on 3 main stages:
- Stage 1: Building and maintaining relationships. Enterprises must become a "companion", solving all problems with customers
- Stage 2: Creating opportunities. Find the match between the customer's problem and the solution that the business offers. At the same time, businesses also need to learn about the financial status of customers and who will make decisions.
- Stage 3: Identify the transaction. If the lead is evaluated as a match, the deal is closed. When sales staff perceive this relationship as “win-win”, they will convince the customer to close the deal.
In general, the Sandler Selling method is mainly based on early identification of potential customers and showing them the value they will achieve.
Sandler Selling Method
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Solution Selling method
Solution Selling is a method of selling by solution. Accordingly, businesses need to understand what customers need and show them how your solution will bring them benefits.
Solution sales method is being applied by many salespeople. To implement this method, sales staff only need to present to customers the benefits that their products/services bring.
The process of implementing Solution Selling method consists of 5 steps:
- Preparation: Researching and researching the problem that the customer is facing
- Diagnosis: Asking questions to find out the customer's problem and the gap they have. are facing
- Probe: Probe if customers are interested and decide to choose the solution of the business or not
- Knowledge: Provide customers with information about the solution of the business. Based on the data provided by the customer to build the right solution.
- Solve: Specific, detailed instructions for customers on how to apply the solution to solve the problem.
Solution Selling strategy requires businesses to spend a lot of time taking care of and selling to customers, even after the transaction has been completed. However, the solution-selling method will be very effective when applied to large-value transactions.
Solution selling method
Simplified sales process (SNAP Selling)
SNAP Selling method is also known as “Sales method for busy customers”. SNAP Selling focuses on simplifying the sales process by understanding customers and improving the customer experience when coming to the business.
Jill Konrat - the founder of the SNAP Selling method believes that sales staff will be a reliable guide and make the customer's process more efficient. Therefore, SNAP Selling will focus on the principle of process simplification. The 4 key elements mentioned in this approach include:
- Keep it Simple: Your business recommendations and sales processes will be maximally simplified
- Be invaluable: Build customer trust
- Always Align: Build processes based on customer goals, challenges, and needs
- Raise Priorities: Make sure the process delivers the most important value
Methods to simplify the sales process
How to choose the right customers (Target Account Selling)
In the Target Account Selling method, choosing the right potential customers to reach and promote is the most important factor. Therefore, sales staff need to focus on evaluating and exploiting the characteristics of potential customers.
The effectiveness of the Target Account Selling method will depend a lot on the staff evaluating potential customers. In general, this method will focus on quality rather than quantity of leads. This means that sales staff need to put in a lot of effort for the first time in the sales process.
Method of choosing the right target customer
Gap Selling method is a sales method that helps to bridge the gap between the current location of customers and their desires. The core of the Gap Selling method lies in solving the customer's problem, not selling the product.
With the Gap Selling method, the interests of customers are always put first. Therefore, sales staff must understand the problem that customers are facing and then find the perfect solution to solve that problem. However, to do this, sales staff need to know the cause of the problem that the customer is having.
Inbound sales methodologies
is a sales methodologies in the boom period 4.0. This method will focus on exploiting customer information such as: Experience, emotions, feedback in the transaction process, etc.
To implement the Inbound sales method, sales staff need to follow the following process:
- Understand the process of customers making product purchase decisions
- Build a process to help customers make product purchasing decisions
- Define the persona of the prospect
The inbound sales process is clear Customer stages
Command of the Sale
The Command of the Sale methodology encompasses selling with a sense of urgency, confidence, extensive knowledge about the product, and exceptional awareness of the sales situation. These qualities can be considered commanding in their own right.
The effectiveness of this methodology relies on the salesperson's understanding of the prospect's goals, their desired value creation methods for their business, how the salesperson's solution specifically addresses those elements, the prospect's metrics for success, and the unique advantages of the salesperson's business compared to competitors.
Within this methodology, the salesperson must explicitly articulate how their solution aligns with the prospect's problems, needs, and interests in a way that sets them apart from the competition. This pitch should justify charging a premium for the product or service offered by their company.
How can I train my sales team on a new sales methodology?
Training programs, workshops, role-playing exercises, and ongoing coaching can help introduce and reinforce a new sales methodology.
Can a sales methodology be modified to fit our specific sales process?
Yes, sales methodologies are often customizable to accommodate the unique aspects of your sales process and industry.
Are sales methodologies suitable for both B2B and B2C sales?
Yes, sales methodologies can be effective for both B2B and B2C sales, although certain methodologies may be more commonly used in specific contexts.
Can a sales methodology be used in conjunction with CRM software?
Absolutely, CRM software can support the implementation of a sales methodology by providing tools for pipeline management, activity tracking, and performance analysis.
The above article has compiled for readers 10 sales methodologies. Hope this information will partly help readers succeed on their business path. Follow Viindoo to read more interesting and useful articles!
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