Top 10 Sales Methodology to Consider for Your Business
Maximising sales is something every business owner dreams of. As an entrepreneur, you’re always thinking about maximising your sales. It is the most important part of a business because you only get to earn a significant profit, through sales. If you’re not concerned about selling, you’re simply not helping the business grow.
If you can’t sell, if you can’t influence, and if you can’t persuade, it might be difficult for you to get your business off the ground. It’s not just about the customers, the people who invest in your company are involved as well. For good sales, you need to have a sales methodology that works. You don’t just have to be a visionary for your business, you need to know the art of selling.
Here are the 10 Sales Methodologies that Actually Works.
The best entrepreneurs are the ones who know how to communicate well. When you talk, talk in a way that makes the other person feel comfortable. Not just that, listen to them as well. It makes a huge impact when people feel heard.
When you communicate with people, it also improves your communication skills. You also understand what people want and can provide just what people want.
2. Go for target account selling
Target account selling is a fairly new sales methodology and is quickly gaining momentum. A lot of research, patience and skill goes into it. But the plus point is, you get results for sure. What exactly happens?
For starters, in account-based selling, you are focussing on selling at the account level, rather than the lead level. You have to identify key accounts, research about them as much as you can and then with everything you have, sell to them.
Keep persisting until they become your customers. This is usually done with the big fish, big customers. This is what makes this method even more complex and this is why the results have a greater impact on you.
So, you’re not just targeting one customer, you’re focussing on an entire company and trying to make them your customer. If they become loyal to you, then it will give a huge to your business. So, keep it simple and keep selling to them.
3. Neil Rackham’s ‘SPIN’ selling concept
Neil Rackham wrote the book SPIN in 1988. Even after so many years the book is still relevant and is considered the ultimate guide to problem-solving.
SPIN stands for Situation, Problem, Implication, and Need-Payoff and is a very important sales methodology. SPIN proposes four questions that help you figure out the customer’s problems and concerns.
- Situation questions: helps you understand the situation your customer is in.
- Problem questions: helps you understand their problems and encourages them to talk about things they have been ignoring.
- Implication questions: helps you understand the implications of the problems that they have been ignoring.
- Need payoff questions: these questions help them understand why they need to make the purchase and how exactly would it help them.
SPIN requires good communication skills and is a great technique to build your trust with your customers. You ask the customers, communicate with them and help them realise what they are lacking and ensure that you will help them achieve their goals. This sales methodology includes small customers.
4. Sell the solution to the customer’s problem
This sales methodology asks you to sell a solution to your customer instead of selling a product. It focuses on problem-solving at a larger level than finding a temporary relief. The products arising from the customer’s problems. So the resultant is highly customized products based on the problems of the customers.
It focuses on the pain points of the customers by conducting thorough research. Research as in look back to the deals that you have with the client and you can see what made the customer buy from you. You start from there. Your conversation with the customer will focus on them and their problems rather than the advantages of your product.
5. Build a user-friendly and smart website
Websites have evolved so much in the last 5 years that they have become the first impression of a business. Having a good website will attract more customers and will result in better sales. Keep checking to see if there are any bugs in your websites or not. Your website should be reactive and user-friendly.
These are very basic sales methodologies. Use old school tools like email marketing and SMS marketing to increase sales. Email marketing is all about building a relationship with your customers and growing with them. SMS marketing helps the customer know who you are and with the CTA and you can provide more information to your customers.
These are cost-effective and work well as well.
6. Use marketing software
One of the most important objectives of marketing is increasing the sales of the company. There are several marketing tools in the market that you can employ to increase your sales by automating the sales process. This is a sales methodology everybody uses.
By using PeppyBiz all-in-one Inbound marketing software you will find all the effective methods to make the customers interested in your company. Not just that, they will be happy with your services. With PeppyBiz keep interacting with your customers and make them feel comfortable and provide them with personalized experiences.
7. Make your sales customer-centric
Customer-centric selling means asking the staff to turn off their ‘sales mode’ and become consultants and advise the customers. This sales methodology is similar to that of target account selling. You have to forget your sales tactic and think entirely about the customer and what the customer needs.
It builds a trustworthy relationship between the customer and the company and also makes the customer loyal to you.
8. Inbound selling
Inbound sales is a personalized helpful and modern sales methodology. In Inbound selling, a salesperson focuses on a customer’s pain points and acts as a trusted consultant. They adapt their sales process to the buyer’s journey. The opposite of it would be outbound sales.
A process that mostly involves cold outreach. Like, unsolicited emails, cold calls, surprise office visits and other interrupted sales and business development techniques. Identify the right buyers from the start. These are the buyers you will be most likely working with.
Marketing on this as well as helping to teach your employees who the ideal buyer is will get you off on the right inbound sales journey. People explore the challenges, goals and lead to see if their offering to the customer would bear results or not.
They position your products or services in a way that highlights how it solves their unique needs. It will definitely be a success for you.
9. The challenger sale
This methodology focuses on commercial teaching. This means educating your customer about the problems that they have but not yet noticed or are probably ignoring. And then comes in your product, which would obviously solve the problem that your customer recently was made aware of.
This sales methodology is also similar to inbound sales. Start leading not with your product, but with insight. You should be able to change the view your customer has about their problem. It also requires skill and knowledge.
A novice in the industry would not be able to take such a task. Because the main point is that your customer is not aware of the problem and even if they are, they simply look at it as the cost of doing a business. Which is why they end up ignoring it.
If you work with them, you will be able to make them see the impact their problem will have on the business. You should then be able to sell your product as it will eradicate the problem that your customer is facing.
10. Conceptual selling
Conceptual selling doesn’t sell a product, but rather a concept of a solution. This simply means that you find a need and then fill it. This is a creative sales methodology. Conduct market research and figure out the needs, and then make a product that will sell. Your sales would automatically increase. Ask questions, find their answers and you will have your concept.
When you need to increase your sales, nowadays you don’t have to employ a ton of sales methods. What you have to do is strive for customer satisfaction. With the sales methodologies at PeppyBiz, your customer would never be disappointed.