Your clients need a better cure
Start by treating your sales team with the right sales method
[1]
Truth #1: You won’t cure anyone without a method
Growth comes with the adoption of a sales method. Period.
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
The old days of aspirin...
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
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.
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
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
companies to adapt the most suitable process for their needs.
as the supply and consumers believed that satisfaction and need were irrelevant as long as consignments were being produced, shipped and sold.
Sales methods by the book - by IKO System [page 2]
Curing headaches The 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
The spread of complex diseases As 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.
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 questions Not 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
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,
process? The term coined is actually an acronym that abbreviates the four key steps to follow when adopting the method. Firstly, one must
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
discuss, understand or explain the
behaviour was being furiously adopted by consumers. Not surprisingly, three of the most used to-date methods where put into action.
Methods focus either on process or on skills. Take both in your cocktail
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).
Sales methods by the book - by IKO System [page 3]
towards their clients and prospects. Not
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.
surprisingly, in 2003 Mike Bosworth generated a new type of selling method which took into consideration the new psychology of the buyers.
Doctors become shrinks With 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
Patients love self medication As the the 2000s were taking a toll, suspicion and reluctance were
perception of need, cost, solution and risk evolve during the sale.
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
The buyer psychology becomes essential
more nurturing and available
Sales methods by the book - by IKO System [page 4]
Docs turn into gurus
the conversation and the ability to teach, tailor
Since 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
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.
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
Addressing the patient shifting concerns
Shifting Buyer Concerns from the Customer Centric Selling method
Take 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?
Sales methods by the book - by IKO System [page 5]
Truth #2: Intelligence and technologies are critical ‣ Leverage social networks to connect with
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.
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
What is Sales 2.0 ?
Sale). One thing is pretty sure: all modern
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
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
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.
‣ Nurture prospects over time and establish a trusting relationship vs ignore prospects who aren't ready to buy
Sales methods by the book - by IKO System [page 6]
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 executives IKO 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 ÂŤ24/7 in your client officeÂť
Sales methods by the book - by IKO System [page 7]