Do you think getting sales is hard? We feel it’s easy to make sales and generate revenue. But getting sales consistently is an uphill task. Then how to generate leads and sales consistently and grow your business quickly?
You need a sales system in place. Sales methodologies that generate sales on autopilot. Once you have a proven sales system, you can predict your sales and turn uncertain situations into a guaranteed success.
How do you know which sales methodology works best for you? There are plenty out there. You need to experiment and optimise. What works for one business may not work for others.
To start with, here are 7 sales methodologies that actually work.
1. SPIN Method
The SPIN selling method was introduced by Neil Rackham and he published a book on the same. If you are into sales and marketing, we highly recommend you to check this book.
After analysing 35,000 sales calls over a 12-year span, Neil reveals everything you need to know about selling.
Here is the SPIN method:
In this phase, you understand your buyer and acknowledge their current situation. This will help you to take the sales call in the right direction. Let your prospect know that you understand their current situation.
Ask questions in such a way that they reveal their pain points. When they tell their problems themselves, they feel emotional. People buy emotions, not products.
Now it’s time to agitate the problem. They need a solution to a problem because that problem impacts their life. This will create a desire to buy your product or service. A simple question you need to ask your prospect is “What happens if you don’t find the solution for your problem?”
At this point, the prospect should understand the need for your offering. You should start selling your product from here, explain the benefits and persuade them to take action. Bingo, you made a sale!!
The 30-year-old SPIN method is still relevant and works. Test it out and see the results.
2. Value-Based Selling
Sell the benefits, not products. Value-based selling is one of the best selling methodologies that help you get more customers without being salesy. In this selling model, you add value upfront and build trust, then transactions happen.
Price is something people pay to buy your product or service, value is something they get in return. If they get more, that’s value-based selling. To rephrase, you need to give more so that your prospects feel they’re paying less.
You can check out this blog post where we have discussed the key principles of value-based selling.
3. Solution selling
It’s all about solution i.e. prospect and his problems. For example, IT companies offer a customised technical solution like cloud services and support management to their clients.
In this case, the solution is crafted based on the biggest pain point faced by the client. To know the biggest pain points faced by your customers, you need to revisit your sales record. Find what triggered your customers to buy your product or service.
Once your prospect knows the optimal outcome he is going to get from your solution, it’s super easy to close the deal.
4. Sandler Selling System
Sandler selling system is one of the oldest selling methodologies and the best part is it still works in 2020. You need to build a strong rapport and qualify your prospects. Qualified leads convert easily and you can close the deal quickly.
3 Step Process:
1. Build relationships - You can start your relationship by building a strong relationship and know what your prospects want. Gain their trust and knock off their objections.
2. Qualify your prospect - First, find if they are the right fit for your product or service. Then start selling. Know their budget restrictions beforehand.
3. Close the deal - Now you have qualified leads that have strong chances of becoming your customers. Focus on their pain points and explain the optimal outcome they are going to get from your offering.
5. Inbound Selling
Marketing and sales are inextricably intertwined and you can’t just rely on one. The more the marketing you do, you get more prospects. More prospects lead to more sales.
Inbound selling is another method that you can use to get inbound sales rather than chasing prospects. This is a 2-step process that will grow your business faster if done right.
Step 1: You do strong marketing to get more prospects into your funnel. It would be great if you nurture the leads and qualify them.
Step 2: With qualified prospects in hand, your sales team can explain the outcome your prospect is going to get from your product. Sales reps have a better chance of closing qualified prospects.
In this method, your sales rep is actually consulting and helping the prospect rather than selling. Prospects feel happy when someone helps them and makes their lives better.
6. Challenger Sales Model
Customers have already gained more information before interacting with you. They have preconceived ideas about your product. This makes things difficult for sales reps and objection handling becomes a daunting task.
You can challenge your customers by breaking their limiting beliefs. Disrupt their current thinking and provide a new perspective. Asking questions and making a strong statement is the best way to break the belief of your prospect. By using this model, your sales rep takes complete control of the conversation.
7. Target Account Selling
Instead of chasing countless opportunities, your sales rep can focus on a few accounts and sell your product or service. So the only job of the sales rep is to build stronger relationships with few prospects and nurture them until they convert.
The marketing team can focus on running powerful campaigns and nurturing the prospects. Also, arming the sales team with strong sales collateral. The sales team will enhance the relationship quality and get to know the prospect’s needs and wants.
To start with, test 1 or 2 methods and find out what works best for you. We can’t pick and give one best sales methodology. That’s because what works for us may not work for you.
You can’t stick with one method for a long time. As time changes, customer buying patterns change. Invest your time and resources to learn these methodologies and create a solid system that makes your business super successful.
B2B Growth Summit
Do you want to know how top businesses implement these sales methodologies? Then you need to attend the 3 Day Summit that’s going to happen in the first week of September. Successful business owners reveal their growth strategies to help you grow.
Date : 1 Sept 2020 - 3 Sept 2020
Time : 10:30 am IST
It’s a FREE exclusive summit where you can meet business owners who are making the most out of B2B marketing. Top B2B growth experts teach you how to find clients who play an integral part in your business growth. Register Now.