Most of those in business will attest to the fact that any venture’s success is closely tied to its sales approach. In simple terms, sales can be defined as the process of promoting and selling a product or a service. Whereas marketing focuses on creating product awareness and identifying potential leads, sales seek to close business opportunities identified by convincing the prospects to make the actual purchase. It is important to note that these two departments’ roles overlap, and very little can be achieved if there is no collaboration between them. Having a great product does not guarantee success in business, especially in the current competitive business world. There will always be someone offering the same product or service. Being able to convince the prospects to purchase your product is critical in ensuring you survive and thrive.
Several businesses have failed to adequately equip their sales personnel with the much-needed tools to execute their roles successfully. However much a salesperson may be qualified, the existing sales architecture or framework will determine their ability to deliver. MEDDIC is an excellent example of a valuable sales framework that seeks to streamline the entire sales process by turning as many leads as possible into customers.
Sales representatives face numerous challenges in their line of duty. Technology, for instance, is quickly reshaping how businesses promote their products. Any sales representative who fails to incorporate technology into their sales approach is bound to fail. Identifying good leads is a challenge for many of them; incidences of sales representatives spending time on a not fruitful lead are common. Lastly, there is also the challenge of multiple engaging parties who have no stake in the decision-making or purchasing process.
Knowing the right skills and techniques to apply in the sales process is essential for the business and sales representative. Customers will always feel comfortable dealing with the person who cares most for their needs. Some of these techniques include;
· Focusing on pain points-entails understanding the customer’s greatest need.
· The assumptive close-involves addressing the prospect in a manner that appears you have already closed a deal.
· Limiting opportunity-human beings respond positively to the scarcity narrative and when they are made to believe that there are no products left, they will compete for the few lefts.
Adapting a reliable sales framework ensures that the majority of the issues mentioned in the previous paragraphs are addressed, and sales personnel are allowed the chance to fully showcase their expertise. The following are some of the benefits that a business is bound to gain:
Attainment of targets-Targets are put in place to push the sales team towork hard andturn as manyleads into customers.
The Best sales strategies are adapted-Markets vary depending on customer needs and preference. This means that a particular sales approach might apply in one market and not the other. Identifying a strategy that best suits a given setting is key to success.
Retention-Sales is more than just selling, there is also the need to retain the customer, for instance, through providing after-sale service and ensuring the customer is satisfied and willing to do business with you again.
It should be the desire of every business, big and small, to put in place a sales framework. Without this vital element, very many business opportunities are lost hence reducing the chances of getting revenue and running operations. The implications of neglecting this call are dire as it may lead to possible closure of business. Begin this journey and save your business from collapsing after investing so much time and energy into it. The returns on investing in a sales framework might not come immediately but with a sustained effort to implement the guidelines provided, more deals will be closed.