Optimizing buyer enablement
Optimizing buyer enablement You may be wondering how to entice customers to buy your product. There are a few key things you can do to
One may be tempted to see sales as a rather uncomplicated discipline. That sales is just easy when the salesmen are outgoing competitors with good human qualities and maybe a dose of humility. But research documents that sales and sales management require a far more tactical approach – so the questions is: are you doing the right thing?
Mads Winther
There are a wealth of well-known sales methods – in fact over 200 different ones. A sales method covers fully described concepts for sales. They have different characteristics and are targeted at different sales situations.
You can compare them to playing styles in football: Some teams play very well with ball possession, while others bet on counters. Others play with high pressure all over the field, etc. Football coaches are very aware of the choice of playing style – for example, based on a philosophy of how they want to play. Other coaches adapt their style of play to the opponent they face, and finally there are those who choose the style of play based on what suits the players the coach has available on the team.
Roughly speaking, sales can be divided into three categories;
#1 Transactional/ Product Sales
#2 Relationship/ Solution Sales
#3 Purpose/ Co-creation Sales
Most companies exist in the transactional sales space where they offer a product or a service to their customers. They are focused on winning the next deal and driving revenue. In this environment, the focus is on discounts, price and terms. The key performance indicators (KPIs) are usually short-term and revolve around targets such as number of deals closed, win rate or revenue.
In the relationship sales category, companies strive to establish long-term relationships with their customers. The focus is on becoming a trusted advisor to the customer. In this environment, the KPIs are typically longer term and might relate to customer satisfaction or Net Promoter Score (NPS).
The purpose or co-creation sales category is still relatively new. In this model, the company and the customer work together to create something new that neither could have achieved on their own. The focus here is on creating joint value. The KPIs in this environment might relate to market share or customer lifetime value (CLV).
So, what kind of sales category does your organization fall into?
Do you have the right processes and KPIs in place to support your desired sales category?
Do your people understand what is expected of them?
Are they following the processes and working towards the KPIs?
The bottom line is that if you want to be successful in sales, you need to make sure you’re doing the right things. And that means having the right processes and KPIs in place for your desired sales category.
Sales is not “just” sales – it’s a complex discipline that requires a tactical approach. There are over 200 different sales methods, each with its own characteristics and targeted at different sales situations. The key to success is to choose the right method for your desired sales category, and then make sure you have the right processes and KPIs in place to support it. only then can you be sure that your people are doing the right things and working towards your desired goal.
The bottom line is that if you want to be successful in sales, you need to make sure you're doing the right things. And that means having the right processes and KPIs in place for your desired sales category.
There are a few things to consider when choosing a sales method. The first is your desired sales category. As we mentioned before, there are three main categories: transactional, relationship, and purpose/co-creation.
The second thing to consider is your customer. What kind of buyer are they? Are they rational or emotional? Do they value price or quality? Do they prefer convenience or customization?
Third, you need to consider your product. What kind of product is it? Is it innovative or mature? Is it complex or simple?
Finally, you need to consider your own sales team. What kind of skills and experience do they have? Are they outgoing or introverted?
Once you’ve considered all of these factors, you can start to narrow down your options and choose the sales method that’s right for you.
Here are a few examples:
Once you’ve chosen a sales method, you need to make sure you have the right processes and KPIs in place to support it.
The answer to this question will vary depending on your desired sales category.
If you’re in the transactional sales category, your focus should be on short-term KPIs that relate to individual transactions. Examples might include conversion rate, average transaction value, and close rate.
If you’re in the relationship sales category, your focus should be on longer-term KPIs that relate to customer satisfaction or NPS.
And finally, if you’re in the purpose/co-creation sales category, your focus should be on KPIs that relate to joint value creation. Examples might include market share or customer lifetime value.
No matter what sales category you’re in, it’s important to have the right processes and KPIs in place. Without them, you won’t be able to accurately measure your success or identify areas for improvement.
So, if you’re looking to improve your sales performance, make sure you choose the right sales method and put the right processes and KPIs in place. Only then will you be able to achieve your desired results.
Most businesses should span at least two of the above sales approaches.
How many sales strategies and methods to span is all about the company size and resources.
However, all companies should, as a minimum, review their portfolio to examine which methods are best suited to their customers and products.
Here are some questions you should consider:
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