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The New Strategic Selling

The New Strategic Selling

The Unique Sales System Proven Successful by the World's Best Companies
by Robert B. Miller 1985 448 pages
3.90
1k+ ratings
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Key Takeaways

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:

FAQ

What's The New Strategic Selling about?

  • Complex Sales Focus: The book addresses the challenges of Complex Sales, which involve multiple decision-makers and require a strategic approach.
  • Strategic Selling Methodology: It introduces a methodology developed by Miller Heiman, focusing on identifying key players and crafting strategies to meet their needs.
  • Win-Win Philosophy: Emphasizes creating mutually beneficial transactions to foster long-term relationships and repeat business.

Why should I read The New Strategic Selling?

  • Proven Success: The strategies have been successfully implemented by Fortune 500 companies, enhancing sales performance.
  • Practical Framework: Offers a framework for analyzing and improving sales strategies, making it practical for sales professionals.
  • Adaptability: The principles are applicable across various industries and sales situations, making it a versatile resource.

What are the key takeaways of The New Strategic Selling?

  • Buying Influences: Understanding the roles of Economic Buyer, User Buyers, Technical Buyers, and Coaches is crucial.
  • Red Flags and Strengths: Identifying potential problems and leveraging strengths are key to navigating sales challenges.
  • Response Modes: Recognizing how Buyers perceive change helps tailor sales approaches effectively.

What is the Strategic Selling methodology in The New Strategic Selling?

  • Systematic Approach: Focuses on understanding the buying process complexities and decision-maker roles.
  • Six Key Elements: Includes Buying Influences, Red Flags/Strengths, Response Modes, Win-Results, Ideal Customer Profile, and Sales Funnel.
  • Actionable Framework: Provides steps for assessing positions, identifying opportunities, and developing strategies.

What are Buying Influences in The New Strategic Selling?

  • Definition: Individuals who impact the sale, categorized as Economic Buyer, User Buyers, Technical Buyers, and Coaches.
  • Role Dynamics: Roles can shift, requiring continuous reassessment of key players for each sale.
  • Importance: Identifying these roles is essential for a successful sales strategy.

How do Red Flags and Leverage from Strength work in The New Strategic Selling?

  • Red Flags: Indicators of potential problems that need attention to avoid jeopardizing the sale.
  • Leverage from Strength: Using strengths to counteract Red Flags and improve sales positions.
  • Strategic Analysis: Provides a framework for ongoing analysis and adaptation of sales approaches.

What are the four Response Modes described in The New Strategic Selling?

  • Growth Mode: Buyers see a gap between current and desired results, open to improvement proposals.
  • Trouble Mode: Buyers recognize urgent problems, creating a willingness to buy.
  • Even Keel Mode: Buyers see no need for change, making sales challenging without compelling reasons.
  • Overconfident Mode: Buyers are satisfied with the status quo, less receptive to new proposals.

What is the Sales Funnel in The New Strategic Selling?

  • Four Levels of Activity: Universe, Above the Funnel, In the Funnel, and Best Few, representing sales stages.
  • Tracking Progress: Helps track sales objectives and ensures focus on the right tasks.
  • Dynamic Management Tool: Requires regular updates and adjustments based on sales status.

How do I identify my Ideal Customer according to The New Strategic Selling?

  • Demographics and Psychographics: Use both to define best-fit customers.
  • Focus on Compatibility: Identify customers who align with your values and lead to Win-Win outcomes.
  • Regular Assessment: Continuously evaluate current customers against the Ideal Customer Profile.

What is the Win-Results concept in The New Strategic Selling?

  • Linking Results to Wins: Proposals must deliver measurable Results that translate into personal Wins for Buying Influences.
  • Avoiding Assumptions: Understand each individual's perspective rather than assuming alignment with your Wins.
  • Coaching for Clarity: Coaches help clarify what Wins each Buying Influence seeks.

How can I effectively manage my time using the Sales Funnel in The New Strategic Selling?

  • Prioritize Tasks: Focus on tasks based on certainty and urgency of sales objectives.
  • Regular Reviews: Identify where objectives are stuck and adjust strategies.
  • Focus on High-Value Activities: Allocate time to closing Best Few objectives while prospecting and qualifying.

What are the best quotes from The New Strategic Selling and what do they mean?

  • “The best way to predict the future is to create it.”: Encourages a proactive approach in sales strategies.
  • “Selling is not about taking orders; it’s about creating relationships.”: Emphasizes building long-term relationships over one-time transactions.
  • “Every sale is a complex sale.”: Highlights the need to navigate multiple decision-makers and factors for success.

Review Summary

3.90 out of 5
Average of 1k+ ratings from Goodreads and Amazon.

The New Strategic Selling receives mixed reviews, with an average rating of 3.90/5. Many readers praise its comprehensive approach to complex B2B sales, highlighting concepts like win-win strategies, buying influences, and the sales funnel. Some find it valuable for large account management and strategic analysis. Critics argue it's outdated, overly long, and basic for experienced salespeople. Positive reviewers appreciate its practical framework and timeless principles, while others find it dull and repetitive. Overall, it's considered a classic sales text, particularly useful for those in complex, high-value sales environments.

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About the Author

Robert B Miller is an expert in complex sales strategies and co-founder of the Miller Heiman Group, a global sales training organization. He is best known for developing the Strategic Selling methodology, which has been widely adopted by Fortune 1000 companies. Miller's approach focuses on understanding different buyer types, aligning sales strategies with customer needs, and creating win-win scenarios. His work has influenced sales practices across various industries, emphasizing the importance of a structured, customer-centric approach to complex B2B sales. Miller's expertise stems from years of experience working with major corporations, helping them improve their sales processes and outcomes.

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