When making a sales pitch, it is always important to have a structured pitch that you know works. This is where having prescribed rules and guidelines comes in handy for your sales team to follow. This also aids your company to be more consistent with its approach and overall strategies. 

This is what we call a sales methodology, which is simply a set of rules to follow when making a sale to the target market. From the approach to the language to be used, to closing the deal, the methodology determines the success - or failure - of sales-driven goals. Of course, the methodology may also vary depending on the type of product, business, or market you have. 

Here are some of the most popular sales methodologies to use in your company.

1. SPIN Selling

SPIN refers to “Situation, Problem, Implication, and Need-Payoff.” It’s basically understanding the current situation in order to see the problem - identifying issues and knowing the causes. Afterward, you need to determine the implications in case the problem isn’t solved - what will happen then? Finally, the customer will realize the need once the benefits of the product or service are recognized. Developed in 1988, this method has certainly been tried and tested, and remains true to this day.

2. Challenger Selling

Out with the old, and in with the new! This relatively recent method - has been around only since 2011 - recognizes that prospective buyers have access to all the information they need. In this method, there’s an assumption that the challenger requires a more active approach of pulling the buyer into the world of the seller. This is done by providing information the buyer does not know or should know. Challengers thrive on debates, and then - quite like taking the bull by the horns - they take control of the dialogue.

3. Target Account Selling

As they say, less is more. In this scenario, sales reps are assigned to handle only a few accounts rather than more. This way, they are able to focus on the needs and wants of their customers in order to ensure that they capture that market. It must be noted that all teams need to be aligned. The marketing team would conduct the research, the sales team would convey the right message to the customer, and the customer service team would be required to cultivate lasting relationships to ensure the success for the company.

4. Consultative Selling

Consultative selling is a sales method that prioritizes relationships and open discussion with the customer to identify and provide solutions to their needs. It focuses on the customer instead of selling the product. This approach helps sales reps better understand their customer's challenges so they can provide more effective solutions.

5. SNAP Selling

Keeping it simple is sometimes the best strategy. With the bombardment of information and the influx of things to do, customers are busy, busy, busy. Literally and figuratively, in the snap of a finger, dish out only what is necessary lest your customer gets distracted. And so, the SNAP method entails the sales rep to keep it “Simple, iNvaluable, Aligned and a Priority.” Offer only the most important and most compelling information that gives customers exactly what they need to make a decision. 

6. The Sandler Method

Even older than almost all methodologies combined, this method has been around since the 1960s. The Sandler Selling System offers a two-way approach - it’s no longer just convincing the buyer to buy, but also convincing the seller to sell.

Rather than a seller pushing the product onto the prospect, the Sandler method requires the building of trust on both sides. The role of a trusted advisor is the mantle to be worn by the sales rep - where even the rep now becomes invested in the success of the product. As with most sales strategies, this one is all about building rapport and qualifying whether the prospect indeed belongs within your target market. Otherwise, it would be best to let go and move on to the next prospect. Once you see that there is a good fit, take on the role of an advisor in order to close the deal. 

Determining the best approach for your team and product or service will take time and resources when done through trial and error. Expedite the process and remove the guesswork by working with the experts who know exactly how to sell. Get in touch with our sales experts today at marketing@btpartners-asia.com.