Are you tired of pushy sales tactics that leave you feeling swindled and unsatisfied? Enter consultative selling, a method focused on building relationships with customers and providing solutions tailored to their specific needs. This approach not only benefits the customer but also leads to increased sales and long-term loyalty.
What is Consultative Selling?
The idea behind consultative selling is to put your customers first, and then sell them your product on top of that. Before even considering a product or service as a solution, consultative selling means focusing on your customer, their needs, and their biggest pain points. You will be able to close deals more efficiently and win repeat customers if you develop a trusting relationship with your customers.
At its core, consultative selling entails concentrating on your customer’s needs and the things that are causing them the most pain before even considering suggesting a product or service as a solution.
Even though it might take a little longer than getting straight to the point, doing this fosters a trustworthy customer relationship that aids in closing deals and gaining repeat business. It is a customer-centric approach that prioritizes the needs of the customer over the salesperson’s desire to close a deal quickly. This approach involves active listening, asking questions, and providing customized solutions to customers. In this article, we will discuss the principles of consultative selling, its benefits, and how to implement it effectively.
Identifying the gap
“Sales happen when the future state is a better state.”
Once potential customers understand that change is required because the current situation is undesirable, they are more likely to make a purchase.
The difference in the prospects’ present and future states is represented by the gap. Wider gaps result in greater motivation to buy (and a higher chance of a deal closing).
By determining the gap between where your prospects want to be and where your solution fits into it, you’ll be able to convince them that they must make a change.
When your product includes a complicated purchasing procedure, a variety of pricing options, or a mix of integrations or add-ons, this method of selling is highly effective.
The art of questioning
Sales professionals must use three different types of diagnostic questions—open, control, and confirm—to accurately “diagnose” a prospect’s suffering. Below is a brief overview of each:
Open: Open-ended questions encourage respondents to be frank about the difficulties they are facing. The objective is to establish a connection, elicit enlightening comments, and discover their circumstances.
Control: Asking closed-ended questions to elicit a “yes” or “no” response is known as “controlling.” You’re looking for information and pointing prospects in the right way.
Confirm: Questions of confirmation will follow. These inquiries are intended to keep customers and you on the same page. Buyers will see that you are listening and truly interested in helping if you summaries what they have said.
Given that 76% of purchasers claim to now demand more individualized service from solution providers based on their unique demands, it is likely that this behavioral shift will become the “new normal.”
Source: The 2020 Buyer Behavior Survey
Five components that make a prospect’s current circumstance:
Environment: The location and surroundings of your potential customer.
Problem: Issues and challenges they face.
Impact: The impact these issues are having on them and their organizations.
Deeper cause: The underlying problem that causes these problems.
Emotion: how their current condition is impacting them emotionally
Using this information, salespeople can know the prospect’s future state. The solution seller aggressively illustrates how the product they are selling connects to the issues that the potential customer is experiencing. They strive to have a thorough grasp of the demands of the consumer, take everything into consideration, and alter their pitch and close depending on the best option for this client.
Listen to your prospects more than you speak to them. The top salespeople have a talk-to-listen ratio of 46:54, according to the statistics. On a call, they listen to their prospects for more than half the time (54%) than they do talking.
Basic understanding needed to close the deal:
Make sure you have strong product understanding prior to implementing Consultative Selling (or any approach, for that matter). This implies that you can match the appropriate solutions to customer needs and properly explain why.
Price: With each purchasing choice, price is a crucial factor. Representatives need to be aware of the costs of any commodity or service (and any room in terms of potential discounts for large-volume deals).
Features: Each feature of your product should be thoroughly understood by the sales team, who should also be able to articulate its advantages.
Customizations: The ability to tailor each good or service to a customer’s wants is something that sales representatives should be aware of.
Use cases: Your potential customers are interested in learning how your solution might benefit them. Representatives must be knowledgeable about unique use cases for your products.
Competition: Ensure that the sales representatives have a solid awareness of what the competition has to offer and how your solutions are most valuable.
To be truly consultative, a salesperson must uncover the needs of his or her clients with authentic curiosity.
To build trust with a customer, all aspects of the relationship must be considered, including knowledge and rapport. You’ll need to project a friendly, approachable demeanor and demonstrate that you actually care about the products and customers you’re trying to sell to. That entails communicating with sincere zeal and intent.
Consultative selling is a customer-centric approach that focuses on building relationships, understanding the customer’s needs, and providing customized solutions. It is a highly effective sales approach that can lead to increased customer satisfaction, increased sales, and improved customer retention. By implementing the principles of consultative selling and training the sales team, businesses can improve their sales process and build long-term customer relationships.