The selling method is an approach that defines the specific actions a salesperson should take when dealing with customers through the various stages of the sales cycle. Businesses use certain sales methods to manage their sales techniques and empower salespeople to consistently hit their targets.
What are the types of sales methods?
- Conceptual Selling
Conceptual selling or conceptual selling developed by Stephen Heiman and Robert Miller , this method discusses selling as a process in which sellers persuade buyers to buy a concept, not a product. Conceptual selling focuses on listening to clients and understanding their underlying needs.
This sales model emphasizes how crucial interaction with customers is. This method approach focuses on interacting with customers to be able to prepare for a better time, create more meaningful encounters with customers and provide mutually beneficial results.
The conceptual selling method encourages salespeople to ask smart questions that are broken down into five categories:
- Confirmation questions – to make sure you understand the information.
- New information questions – to clarify the prospect’s concept of a product or service.
- Attitude questions – to understand and deepen the relationship with the prospect.
- Commitment questions – to understand how potential buyers are trying to find solutions.
- Basic issue questions – to understand potential problems.
- Customer Centric Selling
With this practice, salespeople focus on having meaningful conversations with prospects to identify needs and determine the best solution.
How it works: This goal is achieved by using a special conversational narrative, then using the narrative structure is used to achieve the consumer’s purchase goal. By knowing the background of consumers well, sellers can focus on making interactive and effective communication to consumers’ buying needs.
- Inbound Selling
Inbound Selling is a sales methodology that relies on the ongoing involvement of buyers to make purchases.
With this methodology, salespeople must focus on connecting buyers with relevant content and continue to engage them through a number of communication media, such as social media or face-to-face events.
- MEDICAL
MEDDIC is an acronym which stands for Metrics , Economic Buyer , Decisions Criteria , Decision Process , Pain Identification , Champion . It is characterized by an intense focus on lead qualification.
Salespeople who use this method perform a series of rigorous prospect qualifications to understand whether or not a buyer is a good fit for their product. If the buyer meets MEDDIC standards, the salesperson will move forward and toward closing . Salespeople focus on being a trusted advisor and not just offering a product.
- N.E.A.T. Selling
This method tries to find qualified prospects for buyers. This way, sellers can focus on potential prospects who are more likely to buy.
NEAT stands for:
Need : What do they need? What makes it difficult for them?
Economic Impact : What is the financial impact on buyers of the solution that has been found?
Access to Authority : It is important for the salesperson to understand who has the authority to sign the deal, is it just one person or several individuals?
Timeline : The timeline stage involves the salesperson setting a time to close the sale. In setting a timeline , it’s important to consider the buyer’s schedule and how quickly the buyer wants to see the product or service implemented.
