A sales methodology is how a sales representative communicates with a prospect to win a deal. Salespeople apply a set of sales techniques to approach a lead and do everything possible to reach company targets on sales and revenue. It helps sellers stick to a plan that works with customers during each customer journey stage.
This article will uncover the 5 best sales methodologies and show how to select the right sales methodology for your company.
Why should you use a sales methodology?
Sales methodology determines a set of techniques and approaches sales reps should use to increase win rates. It defines what a sales team should and shouldn’t do to attain business goals regarding the number of new customers, closed deals, and revenues. In a highly competitive climate, every brand should have an effective framework that works and helps reach prospects.
Since leads can switch to a competitor for purchase anytime, this set of methods should be effective and working. Businesses need more time to test various approaches and wait until it works. A consistent methodology brings advantages to both companies and sales teams since it enables them to
- use successful strategies;
- assess sales opportunities and challenges;
- implement best practices that lead to success;
- teach sales representatives how to reach prospects.
Now that you know the reasons to outline a sales methodology, it’s time to explore the 5 best sales methodologies. The following section will help you identify the most suitable frameworks for your business.
5 Best Sales Methodologies
We invite you to discover the best sales methodologies if you are still considering where to start. They will help you decide which of the frameworks you need for your business.
- SPIN selling. SPIN stands for situation, problem, implication, and need payoff. These concepts help salespeople identify customers’ problems and challenges. Sales reps can successfully establish trust and rapport with potential consumers by focusing on these subjects.
To understand clients' needs clearly, salespeople should ask questions about customers' current situation and identify the most urgent problem. They need to examine the effects when the issue isn’t solved and encourage customers to think about the results after solving the problem. SPIN selling implies guiding clients to the solution rather than discussing the product's value.
- N.E.A.T selling. N.E.A.T. stands for core needs, economic impact, access to authority, and timeline. The framework avoids using some general phrases about the product, its value, benefits, and features. N.E.A.T selling encourages salespeople to analyze customers’ challenges to understand what they really need. The economic impact is one of the points that are essential for this methodology. Your sales team should show consumers the current financial impact and compare it with the impact they will make after implementing the solution. This difference should be visible for customers to understand what they lose. Finally, your sales reps should encourage clients to purchase as soon as possible. It will help your business obtain new customers.
- Sandler selling. Mutual interaction between a customer and a sales rep is the foundation of Sandler selling. In this case, a deal will be based on established mutual trust. In Sandler's selling, a salesperson avoids acting as a typical sales rep. This process excludes various ways to convince the buyer to make a purchase. A sales rep is an advisor who asks questions to adjust to client's needs and desires. This person listens to customers’ pain points and searches for a perfect solution. Reps trained based on Sander's selling methodology identify pricing expectations and time restrictions during the qualification process. This way, a sales team prevents a company from spending time and effort on leads who don’t fit the criteria of your buyer persona.
- SNAP selling. Sales representatives try to put themselves in the buyer's shoes when using SNAP selling. Implementation of this technique requires sellers to keep everything simple, be valuable, align with customers' needs and requirements, and focus on priorities. If salespeople manage to combine these principles during the selling process, they can succeed in establishing connections with prospects, communicating the main message, and making the buying process simple and enjoyable.
- Solution selling. This methodology focuses on customers’ specific challenges and pain points and tries to find the best solution. When using solution selling, salespeople strive to provide customers with products that will definitely solve their problems and bring benefits. Solution selling is about a customized offer. The company’s team can provide this client with a personalized mix of products to help this brand.
Now that you know the best methodologies, it’s time to explore how to implement them. In the next section, we’ll cover the process step by step.
How to choose the right sales methodology for your business?
- Outline the structure of your sales process. To reach your sales targets, build a detailed layout of your sales process. Approaching leads and winning sales requires an accurate plan. You should develop a sales strategy for each stage of the buyer journey. Besides, you should identify the goals and the people responsible.
- Figure out the needs of your consumers. After outlining every stage of your sales process, you need to determine your buyers’ needs. It will help you align customers’ motivations with your product. Use qualitative and quantitative research to do it. Consider implementing surveys, one-to-one communication, and focus groups to understand buyers’ needs clearly. During the research, you need to determine your consumers’ technical, financial, and personal needs. When surveying customers, pay attention to motivations since they can be related to pricing or emotional connection with your brand.
- Incorporate frameworks for different stages of the buyer journey. Each customer journey stage is crucial since it leads a person toward a purchase. Depending on the value of a product, the sales rep’s presentation, and the sales approach, the prospect decides whether to buy a product. That’s why you need to develop a framework for every stage that moves a lead closer to the deal. You can choose among two options: incorporate existing methodologies or build your methodology based on observation and research.
- Develop training for your sales team. Once you choose a perfect fit for your business, it’s time to create guidelines, lessons, and master classes for your sales team. It will help you make sure that all your sales reps reach potential clients in an appropriate way. This way, you’ll establish a universal approach and sales rules for everyone. Consider developing guides to educate your sales team and help them obtain the necessary skills.
Congrats, now you know what a sales methodology is and why it’s essential. Hope that our guide and methods will help you develop an effective sales approach for your company.
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Last Updated: 05.12.2022