If your sales team is itching to close more deals, then choosing a proven sales method is one way to boost your success. In fact, a report by MetaCX & Revenue Collective revealed that 59% of businesses who adopted a sales methodology reported that the investment in time and training more than paid for itself.
Image sourced from MetaCX & Revenue Collective Report
Figuring out which sales methodology works for your unique business can make all the difference between winning and losing a deal. With this in mind, we’re covering 7 popular sales methodology options to help you transform your current sales strategy.
But first…
What is a sales methodology?
Think of a sales methodology as a structured approach to (you guessed it) selling. It’s a set of principles that help to guide your sales professionals so they have a better chance of closing deals.
Rather than going in blind, a sales methodology will give you steps to follow during each stage in the buying process. In a B2B sales strategy, sales methodologies can help you to maintain long-lasting, professional relationships with business clients.
Read on to learn the top seven best sales methodologies already used by global businesses as a way to develop long-term relationships with clients.
The 7 best sales methodologies for your business
Now you know what a sales methodology actually is, we can move on to our top seven picks that could work wonders for your business. Top sales leaders have produced each methodology, so keep reading to boost your sales figures!
1. SPICED sales method
The SPICED sales method stands for Situation, Pain, Impact, Critical Event, and Decision. It’s all about digging deep into the customer’s current situation and major pain points.
By focusing more on the impact of the customer’s problem, sales professionals can understand them better and adapt how they sell to prioritize the customer’s needs better during the decision process.
Maximizing the benefits
To get the most out of the SPICED method, your sales teams need to get thorough training so they know the exact questions to ask at every stage.
That way, they can get a much deeper understanding of the critical issues the customer is facing and can position your solution as the best choice possible.
2. SPIN selling
From the genius mind of Neil Rackham, SPIN selling focuses entirely on four types of questions that you should ask potential customers: Situation, Problem, Implication, and Need.
This method is especially useful if your business has a complex sales process. It helps you to uncover the true needs and desires of your potential customers.
Similarly to SPICED, SPIN is all about understanding the deeper problems that your potential customers are facing with a more structured framework.
Maximizing the benefits
To get the most out of SPIN, you should make sure your sales reps have mastered the art of asking open-ended questions to keep the conversation flowing. Try using role playing exercises to help them perfect their questioning techniques.
You can review recorded sales calls using a VoIP phone to help you identify how your team can improve how they ask Need-Payoff questions to clients.
Free to use image sourced from Unsplash
3. Conceptual selling
Conceptual selling is a methodology developed by Stephen Heiman and Robert Miller, experts in the sales cycle. They reiterate the importance of understanding the buyer’s concept of the product rather than the product itself.
There are three key areas that you need to know:
- Understanding the buyer’s concept
- Securing a commitment
- Ensuring a mutual benefit
This is all about customer-centric selling – putting focus more on what the customer thinks and perceives of your product over its actual features.
Maximizing the benefits
If you want to try conceptual selling, you should make your team focus on building stronger relationships with prospects rather than going for the hard sell. Part of this involved developing a detailed framework that will help you capture and look closer at customer feedback so you can keep refining how you understand customer needs.
Try tailoring your sales presentations using conceptual selling to show how your product fits with the customer’s business and needs.
4. SNAP selling
Jill Konrath’s SNAP Selling is for sales professionals dealing with busy and overwhelmed customers who want to deal with a simple sales pipeline – hence the name!
SNAP stands for:
S – Simple
iN – Invaluable
A – Aligned
P – Priority
This method is all about simplifying the decision making process for potential clients, aligning the sales process with their top priorities.
Maximizing the benefits
To use SNAP to its fullest potential, you need to simplify your sales pitch so it focuses more on the critical points that align most with the priorities of your customers.
Ensure that each and every interaction you have is valuable and respects the customer’s valuable time. Take the time to train your sales team to quickly identify and adapt to their priorities so you can stay aligned throughout the whole sales process.
Free to use image sourced from pexels
5. The sandler system
The Sandler selling system comes from David Sandler and takes a unique approach to sales. It focuses on non-traditional processes that actively discourage putting intense pressure on the potential customer. It’s more about building a strong rapport and encouraging them to self-discover the benefits of your product or service.
Maximizing the benefits
If you’re currently taking the hard sell approach, you’ll need to reprogram your team to focus more on building rapport over-pressuring them.
Encourage your sales professionals to ask more probing questions to discreetly figure out pain points over outright asking. Role-playing scenarios will help you to perfect your new Sandler selling system approach.
The best way to build a professional relationship with a client is through video call – it feels more informal and friendly.
6. Gap Selling
Introduced by Keenan, gap selling focuses on identifying and addressing the gap between the current state of the economic buyer (the person responsible for making the buying decision) and their desired future state. This methodology is centred on understanding the problems and their impacts on the customer’s business.
Maximizing the benefits
Train your sales team to identify and quantify the gaps accurately. Use visual aids and data to illustrate the gap and the benefits of bridging it with your solution.
Regularly update your training materials to include case studies and success stories that demonstrate the effectiveness of Gap Selling in various scenarios.
7. Challenger sales methodology
The Challenger Sales Methodology, developed by Matthew Dixon and Brent Adamson, argues that sales reps should take control of the conversation by challenging customers’ thinking. This method focuses on teaching, tailoring, and taking control to drive sales.
Maximizing the benefits
Implement training programs that teach your sales reps how to provide new insights and challenge the status quo effectively. Encourage your sales team to develop a deep understanding of their customer’s industry and business challenges.
Use this knowledge to tailor your sales approach and provide valuable, thought-provoking insights that differentiate your solution from competitors.
Choosing the best sales methodology for your business
Choosing the best sales methodology for your unique business is one of the most influential choices you’ll make as you try to boost your sales team’s success. Here are some factors you should think about before you go forward with your new sales strategy.
1. Understand your current sales cycle
To choose the most effective sales methodology, you need to evaluate your current sales cycle – this will help you choose something that’s suitable for your selling process.
If your selling process is complex and involves multiple decision makers, trying SPIN selling might be the best approach as it’s a more structured way to develop strong customer relationships and boost your sales performance.
2. Think carefully about your customer base
Understanding the target market and customer personas is another essential thing to consider for sales organizations.
If your potential buyers require a lot of education and nurturing, a consultative approach might work best.
On the other hand, if your customers are well-informed and need insightful guidance to challenge their existing views, the Challenger Sales Methodology could work better for you.
Analyzing customer feedback and sales data gathered from when clients call your virtual phone number can give you some more insights into your customer’s buying behavior, helping you understand their decision criteria and streamline your qualification process.
3. Assess your sales team’s strengths and weaknesses
Evaluate the skills and experience of your sales team. Some methodologies, like the Sandler System or Conceptual Selling, require a high level of interpersonal skills and the ability to build strong relationships quickly.
Others, like Gap Selling or MEDDPIC, demand a strong analytical ability to identify and address gaps and metrics. Training and development programs should align with the chosen methodology to ensure your sales team can effectively implement it.
Free to use image sourced from pexels
Final thoughts
Adopting the right sales methodology can go a long way in boosting your business’s overall sales success. Each and every methodology in this article gives you a new and unique approach to selling, so choose wisely!
The key to maximizing your new sales strategy is to offer thorough training and work to continuously improve on your sales method.
By investing in the right methodology and encouraging your team to learn and adapt, you’ll be able to close more deals and build stronger relationships with your potential prospects.
Frequently asked questions
How can sales methodologies improve sales performance?
Implementing a sales methodology can help sales teams to be more systematic and focused in their approach. Most methodologies aid in identifying customer needs more accurately, aligning the sales pitch accordingly, and effectively managing the sales pipeline, ultimately leading to improved sales outcomes.
Can I combine different sales methodologies?
Yes, it’s often beneficial to blend elements from different methodologies to create a customized approach that fits specific organizational needs. Ultimately, you should aim to identify what works best for your organization and adapt methodologies accordingly.
Originally published Aug 16, 2024
