how to choose a sales methodology

First, identify what your needs are; then, identify what methodologies can help solve your problems in the best way.Â. “I’d rather sell something that I know is going to be of value to a buyer and provide a service that will truly work for their business, rather than waste both our time.”. When should you use transactional selling? Buyer needs can be segmented into three buckets: On top of these needs, there are several buyer motivations. It should serve both your sales reps and your prospects to achieve a mutually-beneficial outcome. Adopting new sales methodologies helps optimize the entire sales process. The sales process consists of the systematic steps your sales team takes to move a prospect from the early stages to a closed deal. Putting the perfect sales methodology in place can aid your sales team in earning more customers and success. As a manager, you must also assess their strengths, weaknesses and the results they bring. The first step in this technique is to consult your client about the industry as a whole. On the other hand, transactional roles will be upended in an ideal scenario, with customers trying to convince sellers to sell. The engagement can take the form of a cold or warm call, a chat session over social media, or an email outreach. Notice that these aren’t branded or trademarked! Then read my friend Mike Weinberg’s New Sales Simplified. Otherwise, your sales process will be applied differently by each rep on the team. That’s what makes this framework so useful! How often does this cause delays in getting projects wrapped up? Assign reps into groups of three, allowing two of them to maintain their training if one is on vacation. How to choose the sales methodology that’s right for your business; ... On the opposite end of the spectrum is a more transactional sales methodology,” Dan explains. Once you identify the right sales methodology it’s then important to implement it effectively. In inbound selling, marketing techniques get tightly meshed with the processes and goals of sales. Take this as an opportunity to get your sales team in a room for a block of time to clean up their pipeline and update it based on the new sales methodology. Create training and coaching materials. We’ll cover this topic in more depth towards the end of this guide. Leverage the How to Make Your Number in 2018 to access a revenue growth methodology to hit your number quarter after quarter, and year after year. What does your current project management process look like? Each sales methodology at its core is designed to empower reps to perform at their best using proven approaches to identify and solve problems. For example: if you sell a product that costs $100,000 per year, it might make sense to apply 6 months of consultative sales effort to get the sale. “Our job is to become the buyer’s trusted guide, then everything flows from there. Once you’ve identified the challenges your prospect faces, it’s time to dig into the implications of those issues. Similar to SPIN, Solution Selling helps reps uncover the challenges or problems the prospect faces, and suggest areas of their product that will solve them. In order for a methodology to be effective, you must ensure it’s well adopted across the entire sales organization. Figure 5. What happens when the problem is solved? In fact, SiriusDecisions found that high-performing sales organizations are twice as likely to provide ongoing training as low-performing ones. Instead of selling a pitch, Conceptual Selling instructs reps to first understand a prospect’s perception (or concept) of their product. You need to define your methodology before anything else, including the sales process. To maintain the new habits they’ve developed, reps should partner up with their peers to help them keep on track. Which is why the situation and problem questions are so effective. DIY Self Service: A complete end-to-end web experience where clients educate themselves and complete the purchase online. At some point, it has an end—the prospect will choose either you or your competitor. This is a relatively new methodology, having matured with the development of the Internet. Using metrics and other relevant data, MEDDIC sets quantitative standards for lead qualification and requires the search and nurturing of a “champion” in the prospect organization who will advocate for the seller’s brand/solution. 3. Read the book from cover to cover. The methodology you choose also needs to fit your customers and your market, so it’s crucial to choose the right one! Given those pieces of information, you can calculate your average cost of acquiring a customer, and choose a methodology that protects your margins while maintaining healthy close rates. Your sales methodology should match your product, customer, and market. No matter what methodology you’re adopting, your sales training must include the following: Ideally, your chosen methodology should either a) solve a problem or b) improve existing results. How reliable is communication between team members during projects? You wouldn’t want to do the same if your product costs $10/month. Introduced in the late 1980s, solution selling evolved over the years to adapt its techniques to changes in buyer maturity and business environment. Then, they are set up to guide buyers into reframing the situation, and imagining how the problem could be solved with their solution. A sales methodology will clarify your process. Encourage them to be honest, as it will help you develop training in areas where they need it most. While not strictly necessary—you can technically execute a sales process without one—a sales methodology is the foundation of a successful sales process. MEDDIC Sales Methodology #. You get in front of the troops to announce it. Adopt or develop methodologies for each stage. Say goodbye to profits! Selling Conceptual Selling SNAP Selling The Challenger Sale The Sandler System CustomerCentric Selling MEDDIC Solution Selling Inbound Selling There’s always a method to… Therefore, the first step is to map out the existing sales stages. The sales methodology is a strategic organizational decision on how you want Sales to interact with buyers and how you will move buyers from one sales stage to the next. The team needs to understand how to work in sync in order to win customers and close deals and how to perform in the hundreds of possible scenarios and situations they could face. They’re just descriptions of how sellers sell, and how buyers buy. Solution Selling is an approach that outlines how your product or service can help prospects overcome a problem. Many salespeople see the sales process as linear. Sales methodology fills the gap between what needs to be done and how you must do it. Sales reps following the Sandler Sales Methodology raise common objections, such as time or budget, ahead of time, aiming to solve them proactively. Solution Selling often follows an Inbound Lead. It then frames the conversation around buyer needs and sales opportunities to establish a proposed solution, which a customer would agree to justify a purchase. making the consultative sale significantly longer. You go through a painstaking process and choose a new sales methodology. A sales methodology arms sales teams with numerous benefits: Strategies to … Under this dynamic, customers make a purchase because they “trust” the seller and expect the purported benefits and results to be realized. With the adoption and training process covered, you may be wondering what sales methodologies are available to you and which are right for your business. Use it when you are selling platform-like solutions involving a number of decision makers. A sales methodology is a framework detailing the strategy for each phase of the sales process. An inbound sales methodology, meanwhile, could help you develop messaging and campaigns that attract prospects to you. encapsulates many of the traditional selling techniques where sellers initiate and guide a sales engagement with a prospective customer. You mentioned unclear dependencies are a point of friction for completing projects. Or, you can develop unique methodologies based on your understanding of your customers. After all, not all methodologies serve the same purpose. Not all sales processes are equal, so you need to conduct an audit every now and then. “My first response would be to use a methodology that will get used consistently,” observes Paul Dudley, Director of Sales at BrightEdge. Despite all the fancy names of sales methodologies listed above, B2B sales is really only governed by five methodologies. mplication. The first is allowing access, second is the choice to move in a different direction away from the status quo, and the third is changing resources. As James Condon, European Growth Director at VanHack, says: “I always prioritize transparency over anything. The Sandler Selling System is built up of three stages, each with steps underneath them: Focus on qualifying the prospect early on, as well as communicating value. Jamie Stiff, Head of Sales at Lyvly, is an advocate of the methodology for how quickly it gets to the point: “You really get to the heart of the problem, and it eliminates the ‘nice-to-haves’ while getting into the real needs of the client. A sales process includes the steps taken from lead acquisition to nurturing to conversion. Most importantly, you’ll be able to see early signs that your chosen methodology contributes to better results or a faster sales cycle. The goal is to speed up the sales process by being Simple, Invaluable, Aligned with the needs of the customer, and a Priority. When should you use Solution Selling? A sales methodology is often confused with the sales process, but it’s not the same thing. A sales methodology is the philosophy that drives how you execute steps in the process. It became so successful that Xerox ended up selling their methodology to other companies under the name “Professional Selling Skills”. For example: if you sell a product that costs $100,000 per year, it might make sense to apply 6 months of consultative sales effort to get the sale. Look for methodologies that provide prospects with value. When should you use it? Your sales methodology should match your product, customer, and market. If it appears that the prospect isn’t a good fit, the rep will let them go. For example, one aspect of a sales methodology might help you convert more appointments into sales by giving you actionable approaches and responses to common objections. Every successful organization has a sales methodology to elevate their performance, whether it’s their own ( see The Toyota Way ) … The Challenger Sale See what kinds of questions work for you AND create value for your clients. In this guide, you’ll learn how to use a sales methodology to set yourself up for success. Where is the situation broken? Articulate the value or economic benefit of the solution in terms of ROI. It doesn’t mean they aren’t useful, it just means you should be wary of trusting what you hear about any specific one. This means understanding if I have the solution for what a client needs, and being comfortable with letting go if they’re not a fit. You help them understand the real problem, and teach them how to look for the right solution. Unlike other methodologies, adopting Solution Selling can easily be implemented into your current sales process. For example, successful organizations have a methodology for how they approach prospecting, presentation, and … You may already have come across some or many trademarked methodologies like The Challenger Sale, SNAP Selling, SPIN Selling, Conceptual Selling, Consultative Selling and Strategic Selling… the list is endless, but it’s important to choose the right approach for your business. Of course, you should do your research before every call, but these questions help you dig deeper into the mind of the prospect. If you’ve done the groundwork correctly, and uncovered the most critical problems, then positioning your product as the solution will be a breeze. They provoke an executive client into action. Do this through regular one-to-one meetings, by analyzing their sales calls and email activity. So instead of directly pushing sales-y scripts to their prospects, inbound sellers attract customers by setting up messaging opportunities where customers can actively or contextually engage the seller’s brand or product. Choose a sales methodology that is too simple for your solution, and you lose deals when your customer expects a little more help through their shopping process. Sales processes and activities are modified to suit the client’s schedule, objectives, and situation. You must also create hands-on training to supplement this, holding regular sessions to help improve your reps’ skills. Of course, as a manager, you must continue to schedule one-to-one coaching sessions. ituation. According to Marc Wayshaw, 19% of non-top performers pitch their offering while only 7% of top performers report reaching the pitching stage. In consultative selling, you invest in educating the client on what is important based on what you have seen in the market. The name says it all: this method focuses on the challenges, goals, and convenience of the customer. On the other hand, you also can’t expect to win a $1M deal spending only $5 to support the sales effort! It’s a fit when your ACV is about $5,000, you have a 30-day sales cycle, and each AE is cutting 5-10 deals per month. Questionnaires can be an effective tool for this, but we recommend you talk to customers on the phone to understand the pain-points your product solves. The difference is that Solution Selling aims to educate the prospect with relevant materials, case studies and insights before moving on to the product (the solve stage). They may be willing to forfeit a specific feature if it can save them a lot of money. You can do this by analyzing your performance metrics and conducting A/B tests to compare outcomes. Here are three steps to help you map your existing sales process: Define each process stage: Understand the goal of each stage, who manages each area and where those roles are located. More specifically, how does that situation cause a pain point? When you are representing an innovative solution that challenges the status quo, you cannot rely on the consultative process because most clients do not realize there is a problem lurking. Your experience guides the client to be specific about requirements for features and functionality. What do the reporting & forecasting processes look like? Unlike a sales process, which focuses on defining the steps or stages on the path to purchase, a sales methodology offers a framework for how sales reps can approach each of those stages to win the deal. Sales managers can look at the areas that reps are doing well, and which need addressing. This methodology focuses on lead qualification and lead value assessment, enabling sellers to close deals faster and engage only leads with significant impact on their portfolio. A sales methodology is a framework that outlines how your sellers approach each phase of the sales process. Sales has to diagnose the customer’s situation to determine the right solution. These activities keep prospect and buyer needs in mind, bridging the gap between each stage of the sales cycle. With each stage of the sales process mapped out, you’re able to select the methodologies that support them. How to select the right sales methodology There is no one size fits all sales methodology. You must not only consider the needs and communication style of the buyer, but also the cultural fit within your organization. replaced by web-based conversations and text/chat. Target Account selling can also be automated using a CRM, making it a good fit for many organizations. To put it simply, sales methodologies are the actionable, how-to “guides” behind a sales process. In the book, it’s made clear that, with the right training, any sales rep can learn to become a Challenger. These approaches are usually based on substantiated psychological principles, as well as field-tested tactics conducted by the experts who developed them. Thankfully, there are sales methodologies that can provide the foundation for these guidelines. Looking to implement a sales methodology for your sales team? Solution-sellers dive deep into customers’ unique situations to identify their pain points and establish an agreed-upon set of criteria that characterize an acceptable resolution. Any mismatch will feel unnatural to both the sales rep and the customer. “Sandler provides a great structure for establishing control and a mutual agreement around what you are trying to achieve in meetings and the sales cycle overall. Measuring changes in deal flow, deals closed, etc. What is the difference between a Sales Process and a Sales Methodology? It’s largely about developing a relationship with the customer as you ask questions, educate them, and provide value. It can be tricky to strike the balance between spending enough time and too much, but you can start by taking note of your average deal size, sales cycle, and number of deals per rep each month. The Challenger Sale methodology uses an approach that aims to teach the prospect, tailor the sales process to their needs and take control of the conversation. It was designed to provide their sales reps with a roadmap to navigate the highly competitive printing and copying space. Figure 2. You can either adopt existing methodologies, such as SPIN Selling or The Challenger Sales model (which we will explain in detail below). The seller’s goal — achieved through empathy, active listening, and asking questions — is to uncover the buyer’s ideal end-state. By selecting two to three of your reps to experiment with your chosen methodology as part of a short-term project, you can begin looking for bumps that will need ironing out as part of your training. There are many possible sales stages, and using a methodology as a guideline of how to approach and navigate each stage will give your team a better chance of success. Transactional selling: Helping customers buy the solution they picked themselves, often through online research. 1. Instead of making presentations, reps hold relevant conversations about how the solution can be modified to better match the client’s requirements. The sensational nonsense and focuses instead on the true pain tightly meshed with the right sales is. Library can be invaluable as the MEDDIC Checklist, the first step in phase... A buyer may how to choose a sales methodology towards working with you as you scale up your work! 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