Best sales strategy is that it is fundamental and helps a lot to grow our business and increase our sales. Are you also trying to create a sales strategy to accelerate the growth of your company? Many sales methods have been developed over the decades, but we have to choose which one is right for us and our team. For example, value-based selling, solution-based selling, or challenge selling are some of the most important ones. But what distinguishes a good strategy? Stay with us until the end of the article. Also, to read more articles about business organization, you can refer to the articles page.
The Best Sales Strategy
In this article, we want to introduce five of the best sales strategies that can significantly increase our sales ability.
1. Value Based Selling: Showing the Value of the Product to the Customer
As the name suggests, this sales method is based on the value our customer experiences using our product. At the beginning, the seller collects as much information about the customer as possible. It’s important to take a close look at the client’s business model beforehand and check the details of everything they say. Even two seemingly identical companies operating in the same industry may have developed completely different strategies on how to address and solve their problems. This often leads to different pricing models, sales models and cost structures. If we identify at least one challenge or weakness in the product or company that we can help solve, we have a strong reason to talk to our prospect.
If we can sell a highly customizable product, this approach is very exciting as the best sales strategy. Because it can be adapted exactly to the customer’s needs. Such products are often associated with relatively high-end models. This is why the salesperson must pay special attention to truly understanding the customer’s needs in value-based selling. This helps the seller in advanced discussions even during price negotiations. At the end of the process, the price of the product is in turn compared to the value delivered to the customer. The more this amount of customization and the more clearly presented, the better the price negotiations will go and the more likely the contract will be signed.
2. The Principle of Power: Having a Lot of Knowledge
The next bestselling strategy listed here is the power principle. Here, the salesperson assumes the role of an expert or consultant. After that he is in a special position, i.e. in the center of power. Of course, this requires that the seller has sufficient experience or expertise in the relevant field.
Prospects buy from sellers they trust, so there’s nothing worse than being perceived as untrustworthy by a prospect. Authenticity in this method is above all else. With the principle of power, the seller knows the customer’s target market better than the customer himself. The salesperson demonstrates expertise by being able to conduct in-depth technical and professional discussions and then develop a business strategy together with the client.
Close contact between the decision maker and the consultant also helps the vendor stay ahead of the game on subsequent projects. The greater the complexity of the product or service and the complexity of the customer’s target market, the more effective the power base principle.
3. Questionable Selling: By Asking Questions about Customer Identification
This direct selling method focuses a lot on asking the customer and is an example of the best sales strategy. The goal of this sales strategy is to create the most emotional connection with the conversation partner, so that the barrier to exit from the sales process is as high as possible.
Revolving sales focuses on four types of questions:
Situational questions: in order to know the conditions and general situation of the customer.
Challenging questions: to identify the customer’s challenges and problems to understand how to provide the most practical solutions.
When implementing this sales strategy, we use questions that are used to identify or create the biggest problem so that we can later position ourselves as the right person to solve the problem.
4. Challenge Selling: Seducing the Customer is an Example of the Best Sales Strategy
The challenge selling method is the most modern and popular type of sales strategy formulation among salespeople today. This is because the method developed is based on scientifically collected data from more than 1000 sales managers from various industries and is basically based on the solution selling method that is currently very popular with salespeople.
With challenge selling, the salesperson is more interested in opening up a new business approach to the prospect. He challenges the so-called customer business model.
This type of sales strategy focuses on how the customer currently does business and then understanding the challenges and pain points that come with it. Once completed, the vendor proposes a viable alternative that adds more value than the existing method.
In this strategy, you challenge the customer’s preconceived ideas and actually teach them something new.
This example of the bestselling strategy is especially successful when the product itself offers innovative advantages that were simply not possible until now. For example, we can mention technologies such as mobile phones, internet and artificial intelligence.
Up to Sum
Which one is the best sales strategy to use ultimately depends on our personality, our target industry and the complexity of our product. Value-based selling is particularly suitable for customized or highly customizable products. Here it is important to understand the needs of the customer in order to adapt the product to these needs.
The principle of power is also based on the high level of expertise of the seller, giving them a strong negotiating position. Suitable for very complex products. Revolving selling is persuasive through the questioning technique because it is about learning as much as possible about the customer in order to sell them not just a product but an entire process. Challenging selling is especially useful when the industry is going through a lot of change. Then you can challenge the customer’s business model and offer him innovative products. Stay with the specialists of Uprodemy website to get business advice and international trade.