A sales methodology is an actionable framework that guides the activities of your sales representatives. It dictates how they approach selling between and at each stage of the sales process.
Its goal is to enhance the chances of success for your sales representatives regardless of the stage at which your customers are in the sales cycle. Think of it as a map that shows your salespeople how to perform relevant tasks to achieve their sales goals.
Different businesses will use different sales methodologies to generate sales and revenues. That’s because the best practices that work for one company may not work for another. Every business has unique business needs that necessitate the use of different frameworks. But bear in mind that two different companies could use one kind of sales methodology and succeed in the same way. That’s because these frameworks are meant to achieve a specific goal.
Some sales methodologies are common across multiple industries and sectors. Here are some that you can adapt to your business and use as a guide for your sales teams:
The Challenger Sales Methodology is based on The Challenger Sale, a book by co-authors Matt Dixon and Brent Adamson. The book is based on research that shows what top-performing salespeople use to generate sales, and how their method can be replicated in any organization.
According to the book, there are 5 B2B sales personas: challengers, hard workers, reactive problem solvers, lone wolves, and relationship builders. But it is the challengers that makeup 40% of the best-performing salespeople.
According to the authors’ research, challengers view the world differently from other people and have no qualms about taking control of the sales conversation and debating customers. Their keen understanding of the customers’ business enables them to push customers to take desired actions. What they don’t know, they are willing to learn even when they don’t have innate talents.
So, based on the challenger methodology, your salespeople should be assertive and not be afraid to use controversy to challenge the customers’ thinking. Your sales team can use this sales model to teach prospects about existing business problems then tailor communications to suit their needs. Additionally, salespeople who choose this methodology should focus on the end goal of generating sales, rather than being likable.
Conceptual selling is a sales methodology that was developed by Stephen Heiman and Robert Miller. Sometimes referred to as the Miller-Heiman Methodology. At the core of this framework is the ability to listen to customers to determine how they conceptualize your product so that you can sell it to them.
What is it that is making them buy your solution? How do they think it will solve their needs? Understanding these things is the key to selling customers what your company has to offer.
Salespeople who choose to use conceptual selling need to ask intelligent questions that fall into five categories:
Because this sales methodology places a heavy emphasis on listening to customers, it enables sales reps to determine the pain points that the clients have. That, in turn, ensures that your sales team can quickly sell a product by stating how it will address those pain points. The model, therefore, provides a win-win solution to all parties involved in the transaction process.
N.E.A.T. Selling is a sales methodology that was created by the Harris Consulting Group and Sales Hacker. N.E.A.T. is an acronym for Need, Economic Impact, Access to Authority, and Timeline.
The N.E.A.T. selling methodology is a sales framework you can use it to drive sales by eliminating prospects that would not be a good fit for your solutions. This framework works as follows:
Neil Rackham popularized SPIN selling through his book with a similar name that was published in 1988. It is based on a study of 35,000 sales professionals across 20 countries.
SPIN stands for Situation, Problem, Implication, and Need-Payoff. The sales methodology seeks to identify prospect needs, offer value, and then sell. Here’s how your sales team can use this methodology to drive sales:
David Sandler created the Sandler selling system in 1967. It’s one of the oldest sales methodologies. The framework works by enabling the sales representative to build a relationship with prospects while determining if they will be a good fit before closing the sale.
To ensure that your prospect is just as invested as your sales representative in the sales process, use the Sandler selling system. Here is a summary of how it works:
Solution selling is a sales methodology created in the 1980s. It is a problem-led framework that seeks to address how a product change could cause a prospect to experience improvements to their current situation. It works quite well in cases where there is a complex sales process that is involved.
Today’s customers know what they want. They take the time to do their research. Many have some awareness of their situation as well as the potential solutions that are available to them. They have a solid understanding of what they need, even if they haven’t decided yet.
To meet such customers where they are, your sales team should use solution selling. The framework enables your sales reps to understand their prospects’ pain points. They can do this by researching previously-closed deals to see the triggers that caused previous customers to buy. Your company can then create a series of questions that help your sales team diagnose the issues your prospect may be dealing with.
Once the prospects’ pain points have been identified, your sales rep can then sell your products or services. They can do this by showing the prospects how your company offerings will solve the problems they have.
A sales rep will emphasize the solutions offered rather than the specs and benefits of your products. It’s all about creating a custom solution rather than a generic one. Bundling a suite of your company products is an excellent way to do this.
You need to find a sales methodology that works for you. That would require an investment of time and training on your part. You need to have a solid understanding of each sales methodology and how it would work within your business. Bear in mind the type of customers that you have, the complexity of your sales process, and the type of product or service that you sell. All these things will influence your choice of sales models. In the end, you need to find one or more frameworks that can help you generate sales efficiently and sustainably in the long run.