Sales Methodologies: A High-Value Solution for Any Business

 

Applying an effective sales methodology is crucial. Methodologies give businesses effective and practical ways to thrive. They do so within every aspect of the sales process. Let’s begin by going over some basic questions about sales methodologies.

 

What Are Sales Methodologies?

Sales methodologies serve as structured guidelines for how salespeople should perform. This applies to every step of a sale. This is different from the sales process map. Why? Because sales maps feature a linear set of stages. Instead, sales methodologies have many different concepts. They also feature techniques to apply so that salespeople get set up to succeed.

A sales methodology establishes the root cause of every sales process. It teaches reps how to handle every action. From doing research in advance of a call to attempting to upsell a prospect. The salesperson can address the needs of his or her prospects. And the script weapon for doing so lies in the steps of the methodology. This can lead to having an improved chance of making sales. But a company’s sales methodology has to get used on a regular basis. It can’t happen in a sporadic or inconsistent manner. The more your sales reps follow the methodology, the easier it becomes to make sales. After a while, the new selling process becomes second nature.

 

What Sales Methodology is Best?

 

There’s no clear answer to this question. At least, not without finding out more about your company and its sales process. But do not despair. This article focuses on a number of proven sales methodologies. You should consider having your business test out each one. You might want to begin the testing process by focusing on Target Account Selling. This is one of the most common sales methodologies. And there’s a good reason for this. Target Account Selling has a great reputation. It’s known to break huge deals into small key components. It’s a great method for getting the most out of reps who have different skill levels. You could also consider applying SPIN Selling. Our Spin Selling section’s located toward the bottom of this article. The article also explains Conceptual Selling, Solution Selling, and other key concepts.

 

How Do You Choose a Sales Methodology?

 

Don’t let choosing a sales methodology stress you out. Instead, enjoy the process of improving your company’s sales operations. There are four key factors to consider when selecting a methodology.

 

1. 1. Try to map out the whole sales process from top to bottom. That’s because methodologies only work when they sync with prospects’ buying steps.
2. 2. Recognize the buying needs of your prospects.
3. 3. Keep in mind that you can apply different methodologies to every stage of the sales process. You don’t have to stick with only one methodology.
4. 4. Use sales coaching and training material. You can either create your own or ask our firm to create custom materials for your business.

 

In fact, training is a crucial aspect of using a sales methodology. It might take time for your reps to adapt to new processes. But training will put them on the path toward success.

 

How Did Sales Methodologies Become a Business Solution?

 

Companies have always applied many different strategies to increase their win rates. This happened before the popular training programs of today existed. Methodologies taught salespeople techniques to help them thrive and make more closes. Sure, these methodologies taught salespeople some useful techniques. But they did little to improve customer interaction. A breakthrough occurred in the 1970s when Xerox launched PSS: Professional Selling Skills. PSS featured a never-before-seen guide. It encouraged salespeople to make more sales. How so? By utilizing the “needs satisfaction” method, in which the customer’s needs came first.

 

The second breakthrough took place in 1985. This was when Stephen Heiman and Robert Miller released the book, Strategic Selling. This sales concept, “strategic selling,” was important. It pushed the notion of meeting customer needs even further into the mainstream. It also simplified the sales process to make it more streamlined. One crucial aspect was reinforcing the “win-win approach.” This is now common in many salesrooms today.

 

 

How Does Using a Sales Methodology Provide Value?

 

Having an effective methodology is crucial to the success of sales teams. Reps can learn new ways to improve their win rates. They’ll also educate themselves about how to boost customer satisfaction. All industries are changing fast. That’s why businesses have to change with their respective industries. And sales methodologies can create positive changes fast. Most businesses cannot improve their sales outputs without first applying a sales methodology. Are you deciding which sales methodology your company should utilize? If so, consider that the methodology should feature the factors below.

 

The methodology should feature clear selling strategies. Each methodology should also have a proven track record of getting results. A methodology has to have versatility. Enough so that it can withstand industry changes. The methodology provides tools to assist your salespeople in any situation. Simplified wording is important here. A methodology must explain in plain English what to do (and what not to do) at every step of the sales process. Methodologies identify the best techniques. They can make a team’s sales numbers increase. Most methodologies provide analysis of top sales performers. They also feature instructions for how to copy that success. They also provide advice to management on how to coach sales reps. This can help any salesperson get the most out of his or her potential. So, what’s the end result of applying a selling methodology? A potential boost in all sales metrics. This can lead to increased revenue over time.

 

 

What Comes Next for Sales Methodologies?

 

So many industries are changing and evolving at a rapid pace. That’s why it is crucial that your company choose the right sales methodology. It must get formulated to withstand change and adapt to the future. Here are the major trends that will affect most sales methodologies over the next decade.

First, you’ve got Perspective-Focused Selling. Today’s consumers desire more than only products. They seek solutions that will help them overcome obstacles. This also applies to obstacles that their businesses might face. Perspective-based selling encourages salespeople to offer more than products. They should also provide solutions and value. Both of which will enrich a prospect’s business or personal life.

 

There’s also a trend in technology innovation. As you are well aware, technology is changing fast. Your company, including your reps, must stay ahead of the curve. Otherwise, your organization could get left behind in the dust. A methodology will do more than make your reps aware of the latest sales technologies. It will also ensure that your reps receive useful hardware and software. Using both of these can streamline the sales process.

 

High-quality methodologies also focus on reps using improved sales tools. Do not hold back on providing technology to your salespeople. There are many tools that will help them succeed. And you’ll know about many of them long as your company uses an effective sales methodology. The tools are about more than maximizing the experience of your reps. They also apply toward delivering an exceptional customer experience.

 

 

6 of the Most Popular Sales Methodologies That Provide Value

 

 

Below are some of the best sales methodologies of the decade. Our firm has tested each one out. We wouldn’t list a methodology here unless it didn’t have a great track record of generating sales.

 

Sales Methodology #1: The Challenger Sale

 

This selling method became popular almost a decade ago. It asserts that sales reps can get grouped into five different categories.

 

1. 1. Hard workers.
2. 2. Challengers.
3. 3. Lone wolves.
4. 4. Problem solvers.
5. 5. Relationship builders.

 

So, which group’s considered the most successful when it comes to making sales? The challenger. Challengers ensure that customers stay aware of potential solutions. This methodology also focuses on providing value to every prospect.

 

Sales Methodology #2: Conceptual Selling

 

This selling methodology improves the customer experience. How so? By stressing the importance of seller-customer interaction and win-win outcomes. The method encourages salespeople to ask five types of questions to their prospects.

 

1.  Confirmation questions that ensure the information from prospect-to-rep are correct.
2.  New info questions. These make sure prospects can understand the new information that they’ve learned.
3.  Attitude questions that deal with the prospect on a personal level. These allow the reps to find common ground with their prospects.
4.  Commitment questions determine if a prospect is on board with the potential sale. And if so, the questions determine the level of interest that each prospect has.
5. Basic issue questions. These help reps determine if there are any problems or issues that need to get addressed. When this happens, a firm like ours can email you an overview of any methodology. This will help solve people’s questions. An overview will also help you make decisions on how to proceed with a methodology.

 

Sales Methodology #3: Consultative Selling

 

This sales methodology allows a rep to utilize more than his or her expertise with a product. It also focuses on a rep’s strategic knowledge of the relevant industry. The rep will use thought-provoking questions to figure out the prospect’s pain points. This allows the customer to realize that he or she needs to make a purchase. Otherwise, pain points cannot go away. This methodology helps reps focus on determining what the prospect needs.

 

Sales Methodology #4: Customer-Centric Selling

 

This methodology focuses on the long-term plans of the prospect. Why? To ensure that the prospect experiences success and achieves his or her goals. Sales reps ask themselves the following question. “What does he or she hope to accomplish in the next week, month, and year?” Here are the eight most important components of this methodology.

1. An emphasis on using situation examples instead of making a proposition.

2. Asking pertinent questions instead of stating opinions.

3. It’s less relationship-centered and more focused on determining solutions.

4. The methodology helps find decision-makers and then capitalizes on them.

5. There’s a focus on using the product instead of describing its features.

6. Taking time on each call and never getting in a rush.

7. Adhering to the prospect’s timetable instead of the salesperson’s own schedule.

8. Empowerment of prospects to achieve success instead of only trying to make a sale.

 

Sales Methodology #5: Inbound Selling

 

Inbound selling is a simple concept. It’s when businesses come to your company. (As opposed to your company seeking prospects.) The advancement of the internet has made this sales methodology popular. Your company’s marketing ability must hold strong. Otherwise, this method won’t have positive results. The method focuses on pulling in customers. This is different than always sticking to an outbound script. Using metrics is key for this selling methodology to work.

 

Sales Methodology #6: MEDDIC

 

Here’s what the letters of this sales methodology stand for. M stands for Metrics. E stands for Economic Buying. The first D stands for Decision Criteria. The second D stands for Decision Process. I stands for Identifying Pain. And C stands for Champ or Champion.

This sales method is technology-focused. It also uses metrics and data to determine the best strategies for any company. At the end of the process, your company should feel like “champions” that turned data into sales.

 

Common Questions Concerning the Value of Sales Methodologies

 

Here are some common questions our clients ask us about sales methodologies. If you have your own question, feel free to call or email our firm today.

-What Does “Sales Methodology” Mean?

 

A sales methodology is a series of guidelines, principles, and techniques. Companies use them for sales reps to have a consistent selling method. This can ensure that sales numbers will get maximized. If you’re using an effective sales methodology, your sales numbers should increase.

 

-What Kind of Value Would a Sales Methodology Bring to My Company?

 

Think about it- all companies already adhere to some sort of sales methodology. Otherwise, there would be chaos. Your company should seek to avoid chaos in the salesroom. And that’s where a sales methodology comes into play. Each one has clear, concise guidelines and techniques in place. That’s why methodologies help ensure that sales reps can make consistent sales.

 

-Are All Sales Methodologies the Same?

 

The short answer is no. Here’s the long answer. Say that your company’s searching for a new sales methodology. This means you are going to encounter a wide range of methodologies. Some of them have gotten used for four decades or more. Meanwhile, others came into existence mere months before your search. You should select a strategic methodology that has a proven track record of success. It’s too much of a risk to take a leap of faith. Choosing an unproven methodology can have severe negative consequences. So, go with a proven methodology like Conceptual Selling. It is unique and business studies have proven that it provides value to businesses.

 

-Does “Sales Methodology” Mean the Same as Sales Technology?

 

No. Sales methodologies offer specific guidelines and techniques for your sales team. They help boost all the important selling abilities. The cream of the crop sales methodologies tests your company’s sales metrics and data points. Why? So a determination happens about improving sales numbers, closing numbers, ROI, etc.

 

An Account of How the SNAP Sales Methodology Creates Value

Like many other sales methodologies, SNAP is an acronym. It stands for: simple / invaluable / align / priority. SNAP is becoming more popular among salespeople every year. Why? Because many sales experts state that it’s a great way to boost the speed of sales. This is great because the modern buyer is busier than ever before. Since many prospects do not trust salespeople, SNAP is a winning solution. The methodology helps reps handle all sorts of intelligent, modern customers. After all, the buyer of today is different from the buyer of the past. But a modern methodology can keep up with any sort of buyer.

 

Here are SNAP’s four components. “Simple” refers to making sales as convenient as you can for prospects. This means that all unneeded processes should get tossed aside. Reducing complexity will make people want to buy. The “N” in SNAP refers to the word, “invaluable.” Reps should display that they are unique and offer a lot of value. In other words, they should prove to prospects that they can serve as trusted advisors. “Align” has to do with syncing the prospect’s needs, goals, and concerns. The solution should align with the prospect’s key priority. Speaking of, the “P” stands for “priority.” This refers to recognizing what matters most to each prospect. Next, the salesperson has to tap into that specific issue. The goal is for prospects to view your product or service as an urgent need. You’ve got to let prospects know that what you’re selling is a priority for him or her.

 

 

Stay Patient When Applying a New Sales Methodology to Your Company

Say that your company has chosen to use a specific sales methodology. You and your team must now optimize the methodology. This involves analyzing your current sales processes. Why? So that a proper evaluation can occur and positive change can happen. Apply tons of sales data and relevant information toward your new sales methodology. The more you apply both, the better chance you have of improving your sales process. Stay patient and don’t expect overnight improvements. A key factor is how receptive your salespeople are to revising their techniques. They might resist learning the new selling methodology at first. But they will adapt to it over time. In fact, they will once they realize it helps them sell your product or service fast.

 

Conclusion: Sales Methodologies Can Increase Revenue & Profit Margins

 

Applying a new sales methodology can help companies of all industries gain success. This applies even if your business is already making many sales per day. It still wouldn’t hurt to test out some sales methodologies. Consider incorporating one or two into your sales process. This can lead to your reps’ sales metrics rising sky high. Do you need help selecting a selling methodology? If so, a sales consultant or coach can step in and help you and your organization find a solution.

Don’t fear the changes taking place in your industry. Instead, embrace them by applying an effective sales methodology. Using a methodology is a long-term solution to many common sales problems. Do you have any questions? If so, feel free to call or email our firm at any time. We can offer training strategies for putting your new methodology in place.