The Psychology and philosophy of building depository interrelation and relevance between seller and buyer is called Consultative Selling strategy. It is a scientific approach to understand comprehensive buyers need and execute it with intelligent customised solutions. Some call this as methodology sales and some as strategy sales.
Consultative Selling emphasis on understanding the 3 P’s of the customer - perspective, predicament and problem. Subsequently focus on the market scenario and industry to provide best solutions for explicit and implicit issues.
In this concept of Consultative Selling, the Sales Rep focuses on creating value and trust with the prospect and by ascertaining their needs before offering any solution. Its a trust building and relationship building exercise – by asking open to discussion questions, understanding needs, positioning products and services appropriate to the customer’s need.
There are not many sales persons who are trained in consultative sales. This humane sales technique focuses on building a relationship with a prospect to understand the pain points and bottle necks of business. This unique technique is useful both in business-to-business (B2B) and as well in Business-to-consumer (B2C) sales.
Consultative sales requires more efforts, at the same time, also helps in making the best use of limited interactions with the customer. It assists in making a stronger client relationship and increases the probability of closing the sales. Tactical empirical approach based on intelligent information retrieval will provide more repeat-sales and referrals. Analytical and logical approach to the customer’s problems will position you as a trusted partner.
Fundamentals and Strategies of Consultative Sales
Research will give informative and encyclopedic details of the customer. Analysis of their latest web, social sites and news, will illustrate the insight and statistical clues of the customer. Which in turn will unveil the customer needs and requirements.
The research utilizes the data garnered by the sales and marketing team whilst sourcing the lead. AI backed lead intelligence will give the abstract of company size, pages visited on your site, email preferences, and social media behaviors. It also analysis what sort of questions and queries the prospect might have.
Research will highlight if your product befits the requirement of the customer. It also reflects customer’s authenticity and urgency. It throws the light on decision making authorities and budgetary limitations. It is effort saves time and money.
Research should also have the scope to cover the personal background of the customer, which will help in trust building. It will assist in connecting the customers by conducting brief research on the individual, to identify areas of common interest. It will eliminate the natural barrier between a salesperson and the prospect with the element of trust.
It is always better to study the competition angle of the customer. Studying the competitors who have approached the customer. Check if the customer has approached any of the competitors. This information will help in anticipating the questions the buyer might ask. It means entering the conversation with every conceivable answers ready.
Ask Open-ended Questions
Outcome of the research should not be assumed as the complete information. Certain aspects might not have been covered in the scope of research. Getting the information right from the customer will benefit in trust building.
Open-ended and open-discussion questions will ascertain the motives and intentions of the prospects. Appropriate questions will shed the light on budgets and decision making authorities. In consultative sales process, questions are one of your greatest sales tools.
Listen and Be Patience
Document all the discussions with the prospects, if it is convenient can record the conversations. Avoid any sort of distractions during the conversations, and most important is to be patient active listener. Information collected will ascertain and help you to qualify and close the lead. Clarify any doubts instead of moving forward with misunderstanding.
An unqualified lead is just as good as a qualified lead during the consultative sales process. Unqualified leads still have the potential and scope to be closed. During the process of analysis, if you discover that lead is not a right fit for your product or service, just don’t try to close it. Such leads are not the right option for the company.
Position the Best Solutions
Avoid using the sales pitch in consultative selling. Use the insight that you have gathered and discuss about the solutions. Be honest in providing the solution, if situation arises suggest them to have outside option for your solutions. It might sound unreasonable but its worth earning the credibility.
It should be fairly easy to close your qualified leads. The closing sequence should feel natural to both you and the lead. Qualified leads which are best suitable for your business, will have less chances of churn.
Consultative selling works because it positions you as a trusted resource that your customers can depend on to offer the best solutions to their specific needs and problems. Moving from transactional sales approach to a consultative selling approach can help you close more deals and create valuable customer relationships that last.
Toolyt, as leaders in Sales Productivity Automation System can make your Consultative Selling easier by tracking your relationships with the customers. The user friendly mobile app guides the sales person to complete the sales process.
Intrinsic alters and reports to the Management for better ringside view of the sales proceedings.