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[1] Your clients need a better cure Start by treating your sales team with the right sales method

Sales methods by the book

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Cure your clients with a solid method for your sales team. The paper gives an overview of the different sales methods and also focuses on sales intelligence technologies.

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Page 1: Sales methods by the book

[1]

Your clients need a better cure

Start by treating your sales team with the right sales method

Page 2: Sales methods by the book

Sales methods by the book - by IKO System [page 2]

LOREM IPSUM DOLOR LIGULA EROS SET...Malesuada quis, egestas quis, wisi. Donec ac sapien. Ut orci. Duis ultricies, metus a feugiat porttitor, dolor mauris convallis est, quis mattis lacus ligula eu augue. Sed facilisis. Morbi lorem mi, tristique vitae.

Seller behaviours as well as buyers' have

changed drastically through out the last two

centuries.

Due to the social, political and economical

changes, they have adapted by engaging with

new strategies and taking advantage of the

cultures that were forming around them. From

the beginning of the 19th Century to today,

sales methods have varied tremendously,

shaping in various ways the relationship

between sales reps and buyers and allowing

companies to adapt the most suitable process

for their needs.

The old days of aspirin...In the 1800s and early 1900s the financial

incentive was at the heart of the selling

profession. A network of traveling salespeople,

which commanded attention was formed,

shutting down the voices of the consumers.

Post World War II instead, the mind sets of the

consumers were blurred by the introduction of

Print, Radio and Television ads which portrayed

the benefits and features of the products. The

demand for goods was extremely high as well

as the supply and consumers believed that

satisfaction and need were irrelevant as long as

consignments were being produced, shipped

and sold.

Growth comes with the adoption of a sales method.

Period.

Truth #1: You won’t cure anyone without a method

Page 3: Sales methods by the book

Sales methods by the book - by IKO System [page 3]

The spread of complex diseasesAs the buyer was becoming much more

important, and sellers were being paid on a

commission basis, the Miller Heiman method

was introduced. This method defines the key

steps in order to deal with large accounts and

complex sales cycles. It introduces the notion of

listening to the client and defining its needs and

challenges. Strategy is of key importance when

adopting this method, and the actions,

accountabilities and timelines needed to

execute it are of main focus.

The 80s and 90s, on the other hand, were

the rise of persuasive selling, which strategy

was centered around building trust and

relationships with clients. The United States

were no longer the manufacturing superpower,

but production was being shifted to the Asian

side of the wold, where prices were cheaper and

technology was more advanced. Providing a

service became important as delivering a

product while binge buying, shop-till-you drop

behaviour was being furiously adopted by

consumers. Not surprisingly, three of the most

used to-date methods where put into action.

Curing headachesThe first to be introduced was Solution

Selling, by Bosworth. This method takes a

different approach than others, by tackling the

client's pains rather than needs. The

identification of the pain, it's acceptance by the

part of the prospect and the understanding of

the specific pain of each account representative

is at heart of the value proposition and need for

change. In order to fully benefit from this

method, one must endure in thorough research

and documentation before approaching a client.

The buyer in this case, is not capable of solving

the problem on his own therefore the seller

takes the role of a buying facilitator, aiding the

client in recognizing what he needs and finding

a solution for it.

When doctors start asking questionsNot long after, Neil Rackham, followed suit

and patented a method that helps build rapport

with the client by focusing on asking strategic

questions to facilitate the buyer to

express his concerns. But what

does the name: SPIN have

anything to do with the

process? The term coined is

actually an acronym that

abbreviates the four key steps

to follow when adopting the

method. Firstly, one must

discuss, understand or explain the

situation to the client (Situation); then it

is important to identify the problem that exists or

could arise (Problem). The third step, involves

an explanation, a discussion or an

understanding of the implication of the problem

for the prospect's business (Implication); and

finally the sales rep must create a need or

opportunity to rectify the problem (Need).

Methods focus either on process or on skills. Take both in your cocktail

Page 4: Sales methods by the book

Sales methods by the book - by IKO System [page 4]

Is it worth the treatment?Before the turn of the century, and the rise of

power of the internet, Target Account Selling

(TAS) was introduced in the world of sales.

Unlike the other methods introduced before,

TAS focuses on the pertinence of an

opportunity, in order to invest time only on the

most interesting and fruitful deals. The

evaluation of the quality of an ideal opportunity

relies on thorough research; whereas the rest of

the method underlines the capacity to

demonstrate its value and to differentiate

oneself from its competitors. To nail TAS, the

salesperson must ask itself if there is an

opportunity, if there is a possible win and if it is

worth winning; all by strongly minimizing the

clients weaknesses and emphasizing its

strengths.

Patients love self medicationAs the the 2000s were taking a toll,

suspicion and reluctance were

high on the agenda. With the

unfortunate happenings of

9/11 and the soon after

economic crisis, consumers

became more price

conscious, giving birth to a

culture of mistrust. Also, with

the escalating rise of Google,

the world was just one click

away, therefore leading

buyers to inform

themselves before making a

purchase. This change, gave

birth to the customer service

aspect of selling, inducing

sales representatives to be

more nurturing and available

towards their clients and prospects. Not

surprisingly, in 2003 Mike Bosworth generated a

new type of selling method which took into

consideration the new psychology of the

buyers.

Doctors become shrinksWith a pretty explanatory name already,

Customer Centric is based on conversations

with the client to bring him, through a play of

questions, to conscience about his problems

and the solutions he could adapt. Founded on

the grounds that communication is of key

importance between the seller and the buyer

but also between the sales reps themselves, it

aims on client relationships and loyalty, working

on retaining and growing them throughout the

sales cycle. Moreover, the method focuses on

the psychology of the buyer, whose

perception of need, cost, solution and risk

evolve during the sale.

The buyer psychology becomes essential

Page 5: Sales methods by the book

Sales methods by the book - by IKO System [page 5]

Docs turn into gurusSince 2010 though, we have entered a

phase where everything revolves around

content marketing and the consumer has

acquired more power than ever. 70% of the

buyers' decision process is done before

meeting with a sales representative, due to the

increased power to access, purchase and

research whatever and whenever. Buyers have

become more informed, educated, comfortable

in making purchase decisions on their own and

willing to learn everything via Web. Positively,

for the seller, it shortens the sales cycles,

increases conversion rate and reduces

costs; but on the other hand, it forces

them to become experts: 100%

believable, reputable and consumable.

Consequently, this has led to the rise

of the Challenger. Based on a study of

6’000 sales representatives, it

demonstrates that the most efficient

profiles are the ones capable of

challenging and pushing the status

quo of the prospects, shining a

light on its strategic loopholes and

weaknesses. The sales rep who

better manages the prospect's

activity sector, will have the control of

the conversation and the ability to teach, tailor

and take control. It is helpful in pursuing goals

and overcoming other people's risk aversions in

a non-aggressive way; it delivers insight that

reframes the way customers think about their

business and needs.

Addressing the patient shifting concernsTake a long breath and have a look at this chart: it shows how the buyer concerns shift during your sales process. In phase 1, he’s mostly concerned by its needs and focuses on your people. His perception of his risk is at a minimum. Get it? Now go on with the graph, think about your current sales process and sales discussions. Can you match these inner truths?

Shifting Buyer Concerns from the Customer Centric Selling method

Page 6: Sales methods by the book

Sales methods by the book - by IKO System [page 6]

Where are we headed now?The internet has now entered the lives of

more than 1 billion people around the world.

Buyers are relying more on technology inducing

sellers to follow suit and participate in online

groups, blogs, and networks to better reach the

right prospects, keep a level of influence and

differentiation. By taking account of the

potential of the internet and using its

tools to boost sales performance, we

are slowly entering the Sales 2.0 era.

This method differentiates from 0.1 methods:

‣ Guide prospects through the process based

on their needs and timing instead of forcing

a sale to make the quarter

‣ Communicate via blogs, online forums and

social networks instead of focusing on a one

way communication process with prospects

and clients

‣ Nurture prospects over time and establish a

trusting relationship vs ignore prospects

who aren't ready to buy

‣ Leverage social networks to connect with

prospects rather than cold call through

yellow pages and rented lists

Which cure is best for me?

The one you’ll use! ... and probably a cocktail

adapted to your product, target accounts, sales

skills. The sales 2.0 approach does not

replace a solid sales process (such as

TAS or Miller Heiman) neither does it

replace a skills-oreinted method

(Customer Centric or Challenger

Sale).

One thing is pretty sure: all modern

methods insist on doing extensive

research to target, understand the stakes

and keep track of prospects and clients.

Even a well-organized and process-driven

sales rep need to quickly identify mature

leads, map the accounts and influencers,

socialize with rainmakers, spot the new

budgets as they appear, prioritize the

opportunities, differentiate himself from

competition, leverage the inner motives of

the buyer, and jump on events that can

jeopardize, accelerate or secure his deals.

All of this intelligence is out there publicly and

waits to be crunched, digested and turned into

sales actions. Competitors being able to

leverage this intel have a massive advantage.

In short, sales intelligence technology is now

strategic.

Truth #2: Intelligence and technologies are critical

What is Sales 2.0 ?Sales 2.0 brings together customer-focused methodologies and productivity-enhancing technologies

that transform selling from an art to a science.

Sales 2.0 relies on a repeatable, collaborative and customer-enabled process that runs through the sales and marketing organization, resulting in improved productivity, predictable ROI and superior performance.

Gerhard Gschwandtner, CEO of Selling Power

Page 7: Sales methods by the book

Sales methods by the book - by IKO System [page 7]

imagine that you receive an alert when your competitor gets out of your client room?

Sales intelligence fuels sales growth

Processes and methods are critical for sales growth. But all

sales methods require organisation skills and (more than ever)

time-intensive research and intelligence from the sales reps.

IKO System is a sales intelligence solution that proved a 300x

ROI* to companies by providing unique insights and saving time

in lead identification, lead qualification, account mapping, pursuit

of opportunities and competitive tracking.

IKO System is compliant with most of sales methods (incl.

Customer Centric Selling, Miller Heiman, TAS, SPIN and

Challenger Sale). The solution addresses the critical steps and

checkpoints recommended by solid sales methods.

Unique insights on executivesIKO provides specific insights and points of contacts (email,

phone, social profiles) to 50m+ professionals in 32 countries and

helps sales people immediatly find their targets and new budgets

through smart algorithms tailored to sales territories. Up and

delivering results in a few minutes.

Sales trigger events

IKO issues real-time alerts on action-driven events: job

changes, new prospects of competitors, new leads of partners,

prospects’ new investments, acquisitions, cost cuts, financial

results, market reviews, interviews or expansion

projects.(*) $1000 invested usually give $300k in additional revenues.

www.iko-system.com«24/7 in your client office»