Steps Sales Process Research: Very Important Reasons Why You Need to Pay Attention Urgently to avert Disaster & What You Can Do about It
Every Organization has its own Steps Sales Process, just like your company has. Whether you have consciously designed it and carefully disseminated it in your Organization or the Steps Sales Process has randomly evolved over a period of years, it has now become a part of the way you Sell in your Organization.
When was the last time you reexamined your Steps Sales Process? Has your sales process deteriorated into a monotonous routine? If so you and your Organization are in great danger. This is true especially if you have a B2B selling process and it is based on old paradigms of Selling suited for the 20th century. Those conditions that led you to your success no longer exist.
Moreover, you are living in a disruptive world. All kinds of forces are coming towards you to disrupt you and your business and such a disruption can happen suddenly as we are witnessing right now. Moreover the time lag between one disruption to another is getting smaller and smaller. Hence it is very important to get maximum return on your efforts before another wave of disruption hits you. Furthermore you may want to create a wave of disruption yourself! Your ability to tide through any disruption is dependent on a strong and steady stream of revenue that is very profitable for you because if your revenue is strong then you can make those bold changes that you need to make to end up at the top of the game.
Hence, it all starts with your Revenue. Is your Organization enjoying spectacular Revenue Growth or is it just mediocre or even poor? You cannot enjoy spectacular revenue growth with yesteryear Steps Sales Process.
“Beware of monotony; it’s the mother of all deadly sins.” -Edith Wharton
Successful Sales Strategies
If you sin monotony your business will surely go to hell. Your Steps Sales Process should emerge from your successful sales strategies. However, it is dangerous to depend on successful sales strategies of the past because a lot of changes have happened in the past 5 years itself. The changes are prolific in all areas of life with technology leading the pack. All these changes have resulted in how customers behave, make decisions and make the ultimate purchase or seal the deal. Given below are challenges that have emerged that you need to be aware of.
Steps Sales Process Research: 6 Challenges – Why You Need to Pay Attention carefully in this 21st century
- The nature of customers has changed. They have become more informed and the way they make decisions has changed.
- Prospecting is becoming more and more difficult. It is becoming more and more difficult even to get appointments. There are also multiple stakeholders involved and getting to the right stakeholder is becoming a tedious task
- Creating a competitive differentiation is becoming a big task. It is becoming really difficult as a lot of competitors with similar products and services exist in the market
- Competing against low-cost products or service providers is a challenge. Customers or clients can use them as a lever to negotiate while you are closing the deal
- Sales Professionals are challenged regarding adding value to customer interactions. Most of the Sales Professionals are married to the old ways of selling. Their world view of what selling is all about has a lot of myths
- Sales Professionals’ inability to secure a trusted advisor status is a huge problem. This will allow competitors to break into the account and steal the customer if they know the right customer hot button
Many of the Sales Professionals are blind to the above challenges or they deny them or create their misnomers. How many of your sales professionals are buying into these myths that are listed below? Do believe in these misnomers too? These myths can destroy your career and destroy your business.
Myths that can cause you a great deal of trouble:
- All that matters is to provide customers with facts and data and the product or service will sell itself
- All customers or clients thinks is the price. Price is the only lever that matters in any sale or negotiation
- Customers have all the information at their finger tips as they are empowered and they don’t need sales professionals as they did before.
- Sales Training based on popular programs that have been running for decades is all that matters to improve your sales. The bigger the brand of the Sales Training Company the better it is
- In selling only Relationship matters. It is all about building Relationships.
- Relationships are not important and a complete waste of time. Focus on providing value to your customer or client
- Do not try to convince your customer or client. Any type of convincing will be perceived as salesy.
- Customer or client is the king and they know the best. Do not try to educate them
- Solution Selling is all that you need to sell in the 21st century.
- Solution selling is dead
These are the top ten myths many entrepreneurs, business owners, sales heads and sales professionals have. None of the above myths is true. If you have answered yes to any of these myths it is a strong indication that you need to rethink, redesign and also re-skill as a Business Owner, Entrepreneur or a Sales Professional.
What factors you need to keep in mind while building a Successful Sales Strategy and Steps Sales Process
Customers and Clients are well informed and they are already way ahead in the buying process before they meet you as a Sales Professional. However the more informed they are, the more confused they get. Hence even though they are well informed the customers and clients want to engage with you either for your unique perspectives regarding the problem/solution. This will help them to make a right decision. Some of them want your help even to profile the sellers and shortlist them as this is the trend a study has shown. What this means is that your customer or client expects you to be their trusted advisor.
What is very important to understand is that studies have shown that only after you become their trusted advisor and they reap the benefits of your solution/product or service will they build a relationship with you. This is a very important factor to keep in mind while developing your successful sales strategies and steps sales process. Once you become their trusted advisor, it will give you a great opportunity to shape their thinking, win opportunities and drive the change in their customer/client behavior towards you, your company and your products/service. However, this has to be done very ethically in a win-win manner. The only way you can become their trusted advisor is when you educate your customers/clients with new ideas and perspectives that demonstrate that you are a thought leader. It follows that you must male all the effort to become a thought leader in your industry. This should be a part of your Successful Sales Strategy and the Steps Sales Process.
Just being a thought leader is not enough you must also be skilled in getting inside your customer’s mind and eliciting their deep held values, wants and needs at their subconscious level because it is at the subconscious level all buying decisions are made. To do this you need a different mindset and skill set. Once you elicit the values, wants and needs then you should match your product or service as a solution that will help them to quickly get them met. This requires rich sales communication wherein you and your customer are openly discussing both the positive and negative factors in the customer’s scenario. Such a rich sales conversation will happen only if the customer likes you. When you have such deep and rich sales communication, where in you ask relevant questions, provide your wise and expert observations and sho then w how your solution in terms of your product or service matches their exact requirements then you will stand above all your competitors. You will also be able to demonstrate subtly that your business values and your customer’s business values are the same and when tat happens you are well on the way to become their trusted advisor. This is a surefire recipe for grand success because such a mindset and skill-set are rare and hard to find. Studies have shown that your customer liking you is the first foundation on which trust is built and on the platform of trust will stand the Trusted Advisor Relationship.
A clear-cut indication that you are a trusted advisor is when your customer will on his ir her own seek you and the frequency of your interactions will increase over the period. However, even when you are their trusted advisor your customer will have these unstated needs which you must fulfil time and again.
What your customer expects from you as their trusted advisor
- Your customer wants you to convince him or her that the solution you have suggested is the the Best choice among other alternatives
- You and your company are the best choices among all the competitors
- Your solution will solve their problem and give them maximum possible returns in the quickest and easiest possible way
- The risks of your solution in terms of your product or service are minimal while the upside is massive
This can be the most important article you have ever read because if you don’t fashion your Successful Sales Strategy and Steps Sales Process to the new realities then you will surely fail. I am sure you liked this article and has provoked you to think. Do leave your comments below.
Here is a related video on the Complex Sales Process Steps
Listen to our related podcast – here
You can subscribe to our YouTube channel by clicking here