Sales is a science – understanding the human factors that contribute to a decision to change the status quo – and as with any scientific endeavor, having a systematic approach is often the difference between success and failure. A key benefit to a systematic approach to sales is the ability to gain information, provide knowledge, and offer solutions in the same order that the mind naturally goes through the decision-making process. Step selling is not a new concept. Its been successfully used by the largest B2B & B2C sales organizations in the world. But many others fail to understand the value of the approach and place an overreliance on sales talent which greatly diminishes potential sales revenues. Here are the 5 steps to your sales success:
1. Sell Your Expertise
Selling expertise is not grandstanding, nor is it bragging about past performance or success. Successful organizations realize that the best way to prove their expertise to a prospect is to engage in a guided discovery session – asking a series of open-ended, intelligent questions. By placing an emphasis on your prospect, and showing that you are willing to listen, it will add weight when the conversation shifts to deeper topics. For us, we provide all of our clients with clear, concise, scalable discovery questionnaires to engage new prospects and enlighten future steps of the sales cycle.
2. Sell The Need
The decision to invoke change is based on two key factors – your prospect’s wants, and needs. The fact that they’re speaking with you is a clear sign that they are interested in a change, but showcasing the need for change is the driving force for any decision involving a departure from the status-quo. Through an effective discovery, you’ll be able to understand and highlight key needs within your prospect’s business – be it increased efficiency, cost reduction, or the resolution to a roadblock impeding the business. One of the hardest lessons for those new to step selling to learn is that you do not pose solutions when discussing need – at this point, all that is required is to spotlight the need and gain a mutual understanding to the issues.
3. Sell Your Company
Your company may play an important role in the decision-making process, but what you want to do is highlight your company’s skillsets, and how it creates additional value or mitigates common issues or pitfalls in your industry. Awards or 3rd party acknowledgments may bolster your case, but they should not be the only thing you discuss during this phase. An effective presentation will always elevate your company above your competitors, and may also include a trial close where your prospect commits to using your company when and if they decide to move forward.
4. Sell Your Solution
Solutions are discussed only after establishing yourself as an expert, uncovering a need, and demonstrating your company’s unique skills. Solutions offered here should always be offered as benefits which align with features of your product or service, and should always be explained in a way that is unique to your company. This provides significant points of difference between your company and its competitors, and when done in a compelling way, begins to develop value in your offerings.
5. Sell Your Value
Customer’s do not buy cost, instead, they buy value. The key is that cost is a fact – $10,000 will always be $10,000. Whereas value is an opinion – is $10,000 a good value? A sale is a decision based on the customer’s wants & needs, compared to the value provided. Ultimately, the discussion will culminate with a price presentation. We coach our clients to review value, building upon the complete discussion before presenting the overall investment in a clear, succinct way.