The New Strategic Selling

1. Strategic selling requires constant adaptation to change

Whatever got you where you are today is no longer sufficient to keep you there.

Change is constant. In today's rapidly evolving business landscape, sales professionals must continuously adapt their strategies to remain competitive. This involves:

• Embracing new technologies and sales tools
• Staying informed about industry trends and market shifts
• Regularly reassessing and updating sales approaches

Strategy trumps tactics. While tactical skills are important, a well-developed strategy is crucial for long-term success in complex sales. This means:

• Focusing on pre-call planning and positioning
• Developing a systematic approach to each sales objective
• Continuously refining your sales process based on feedback and results

2. Identify and understand the four key buying influences

Companies get Results, but only people Win.

Buying influences are role-based. In complex sales, four key roles influence the purchasing decision:

1. Economic Buying Influence: Has final authority to release funds
2. User Buying Influences: Will use or supervise the use of the product/service
3. Technical Buying Influences: Screen potential suppliers based on specifications
4. Coach: Guides the salesperson through the sale process

Understand each role's perspective. To effectively sell to these influences:

• Identify who fills each role for your specific sales objective
• Recognize that roles may shift between sales or even during a single sales cycle
• Tailor your approach to address the unique concerns and priorities of each role

3. Leverage strengths and address red flags in your sales strategy

Red Flags are positive, because they help you identify trouble before it finds you.

Identify red flags early. Common red flag situations include:

• Missing or uncertain information about key buying influences
• Uncontacted buying influences
• New decision-makers in the buying organization
• Recent reorganizations in the customer's company

Leverage from strength. To improve your position:

• Identify areas where you have a clear advantage over competitors
• Use these strengths to address and overcome red flags
• Continuously reassess your position and adjust your strategy accordingly

4. Recognize and respond to buyer receptivity modes

No discrepancy, no sale.

Four buyer response modes. Understanding a buyer's receptivity to change is crucial:

1. Growth: Seeking to improve current situation
2. Trouble: Experiencing problems that need solving
3. Even Keel: Satisfied with status quo
4. Overconfident: Perceives reality as better than desired results

Tailor your approach. To effectively sell to each mode:

• Growth: Demonstrate how your solution can help them improve or expand
• Trouble: Show how you can quickly solve their pressing problems
• Even Keel: Create awareness of potential problems or opportunities they're missing
• Overconfident: Wait for reality to set in, then be ready to offer solutions

5. Create win-win outcomes by understanding buyer motivations

Selling is a professional, interactive process directed toward demonstrating to all your Buying Influences how your product or service serves their individual self-interest.

Focus on Win-Results. To achieve mutually beneficial outcomes:

• Understand that a Win is the fulfillment of a personal promise to serve one's self-interest
• Identify the specific Results your product/service can deliver to the buying organization
• Connect these Results to personal Wins for each buying influence

Uncover personal motivations. To determine Win-Results:

• Ask attitudinal questions to understand how buyers feel about the situation
• Utilize your Coach to gain insights into other buying influences' motivations
• Infer Wins based on the buyer's role, company culture, and observed behavior

6. Develop an ideal customer profile to focus your sales efforts

No single product is for everybody at any given point in time.

Create your Ideal Customer Profile. Consider both demographics and psychographics:

• Demographics: Measurable characteristics like company size, industry, location
• Psychographics: Values, attitudes, and cultural factors that influence buying decisions

Use the profile to qualify prospects. Benefits of this approach:

• Focuses your efforts on the most promising opportunities
• Helps anticipate potential challenges with less-than-ideal customers
• Improves overall sales efficiency and success rates

7. Use the sales funnel to manage time and prioritize opportunities

Every time you close something, prospect or qualify something else.

Understand the four funnel levels:

1. Universe: Potential matches to your Ideal Customer Profile
2. Above the Funnel: Suggestive data indicates a possible fit
3. In the Funnel: Verified opportunity, actively working to cover bases
4. Best Few: High probability of closing in near future

Allocate time effectively. To maintain a steady flow of opportunities:

• Prioritize work in this order: Best Few, Universe, Above the Funnel, In the Funnel
• Regularly reassess and adjust time allocation based on current funnel distribution
• Balance immediate revenue potential with long-term account development

8. Craft an effective action plan for each sales objective

An Action Plan is a list of concrete, practical actions that you can perform before each sales call to improve your position regarding your immediate objective.

Develop a dynamic plan. Key components of an effective action plan:

• Specific, measurable actions to improve your position
• Clear deadlines for each action item
• Assigned responsibilities if working as part of a sales team

Continuously refine your approach. To maximize effectiveness:

• Review and update your action plan before each customer interaction
• Incorporate new information and insights as they become available
• Use the plan as a bridge between pre-call strategy and in-call tactics

Last updated: August 19, 2024