Under the conventional solution-selling method that has prevailed since the 1980s, salespeople are trained to align a solution with an acknowledged customer need and demonstrate why it is better than the competition’s. This translates into a very practical approach: A rep begins by identifying customers who recognize a problem that the supplier can solve, and gives priority to those who are ready to act. Then, by asking questions, she surfaces a “hook” that enables her to attach her company’s solution to that problem. Part and parcel of this approach is her ability to find and nurture somebody within the customer organization—an advocate, or coach—who can help her navigate the company and drive the deal to completion.
But customers have radically departed from the old ways of buying, and sales leaders are increasingly finding that their staffs are relegated to price-driven bake-offs. One CSO at a high-tech organization says, “Our customers are coming to the table armed to the teeth with a deep understanding of their problem and a well-scoped RFP for a solution. It’s turning many of our sales conversations into fulfillment conversations.” Reps must learn to engage customers much EARLIER, well before customers fully understand their own needs. In many ways, this is a strategy as old as sales itself: To win a deal, you’ve got to get ahead of the RFP. But research shows that although that’s more important than ever, it’s no longer sufficient.
To find out what high-performing sales professionals (defined as those in the top 20% in terms of quota attainment) do differently from other reps, Corporate Executive Board conducted three studies. In the first, they surveyed more than 6,000 reps from 83 companies, spanning every major industry, about how they prioritize opportunities, target and engage stakeholders, and execute the sales process. In the second, they examined complex purchasing scenarios in nearly 600 companies in a variety of industries to understand the various structures and influences of formal and informal buying teams. In the third, they studied more than 700 individual customer stakeholders involved in complex B2B purchases to determine the impact specific kinds of stakeholders can have on organizational buying decisions.
The key finding: The top-performing reps have abandoned the traditional playbook and devised a novel, even radical, sales approach built on the three strategies outlined above.
The Take Away...ADD AN "INSIGHT SELLING PHILOSOPHY" into the sales mix. These include:
***Targeting AGILE organizations that have emerging demands or are in a state of change/ flux.
***When conducting initial "Discovery" - What unrecognized needs does the customer have?
***Engage sooner, before the customer has pinpointed the problem.
***Offer education and proactive insights about what the customer should do.
***Direct the flow of information as much as possible and coach the customer on how to buy, and offer support throughout the process.
When weaving these strategies into your traditional sales process, your organization WILL WIN MORE DEALS.
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