Since technical and product information is readily available online, the Internet does not rely less on salespeople to diagnose their needs or sell them products. Solution selling is a methodology that addresses these changes. Reps using this approach ask buyers open-ended questions to pinpoint problems and challenges. They then describe how their products or services can manage them.
Developing a Custom Solution
As a solution seller, you can only rely on something other than your product or service to sell itself. Instead, you must identify and unearth problems the client may need to be aware of, then frame your product as the perfect fit. This method requires high customer empathy and a keen understanding of your target audience. It also requires a deep level of product knowledge. For example, if you sell managed IT services to companies, your sales team must know your competitors’ technical details. It can help them uncover any weaknesses or gaps in the market that could make your competitors more appealing.
In addition, you’ll need to provide your customers with a clear and consistent sales methodology. What is a sales methodology? A sales methodology is a structure or collection of rules that directs your sales representatives in closing deals. With it, your representatives can accomplish goals at every phase of the sales process by converting them into concrete actions. This way, your sales reps can follow steps that will lead to a successful outcome. It is essential to use a complex sales methodology such as solution selling. With the advent of the Internet, consumers are more self-sufficient than ever when researching products. As a result, the solution-selling methodology used to be less effective than it was. Today, many buyers will look at online reviews, unboxing/hauling videos, and social media posts before making a purchase decision. It can lead to too much data for your sales team to handle, distracting them from the task.
Identifying Problems
Gaining a deeper understanding of the problems that their prospects are facing is one of the most valuable strategies that sales teams can employ when selling solutions. It helps them develop a custom solution that meets their prospects’ unique needs rather than trying to push products onto them.
Knowing a prospect’s pain point requires deeper detail than the basic product specifications that sales reps typically use during the selling process. Well-executed solution selling puts the buyer at the center of the conversation instead of a product or service.
For example, when a solution sales team is working with a prospect to address cybersecurity issues, they’ll ask questions about the nature of the threat, how it affects their business operations, and the potential impact on customers. It will help them understand the capabilities the prospect’s organization needs to address those risks.
Then, the sales rep can propose a solution comprising various product components to address the prospect’s needs. They’ll describe these products in terms of their functionality and how they can meet their prospects’ needs. For example, a sales rep might say, “If you want to edit video with your computer without slowing down, this 16GB of RAM will give you the speed you need.” As they do this, sales reps leverage their product knowledge to build trust and generate a positive response from their prospects.
Creating a Win-Win Relationship
While following a solution-selling methodology is critical for success, sales leaders must also create a culture that supports this strategy. That includes fostering a team spirit that allows reps to collaborate, share knowledge, and communicate effectively. The most successful solution sellers can build a trusting connection with their prospects that helps them sell more. Creating a win-win relationship starts with understanding your prospective customers’ needs and challenges. It is where the solution-selling process differs from more transactional approaches. With a solution sale, your reps are more consultative and help buyers define their problems throughout the conversation. They ask questions that help them uncover pain points, such as those used in the SPIN sales technique. To make the most of this approach, your team should have access to a product demo platform to provide personalized and interactive product demonstrations for each prospect. You should also set up a knowledge base accessible to your sales staff to store institutional knowledge like product descriptions and spec sheets. Knowledge-based tools are standard in customer service platforms and CRM software solutions.
Finally, your team must spend more time with clients, especially after they’ve signed on the dotted line. One chemicals company realized its reps paid only 13 percent of their week interacting with clients and 35 hours on non- or less-value-adding activities like booking new orders and handling post-sales issues. To combat this, they enlisted a specialist team to handle these tasks, freeing up their reps for more face-to-face time with their prospects.
Cross-Selling
A salesperson who masters the art of solution selling can effectively upsell and cross-sell to their client base. However, a solid, personal connection with the customer is the key to upselling and cross-selling. That is why following a well-defined sales process is essential. The solution-selling sales process focuses on the client’s needs and what will improve their performance rather than leading with a specific product (also known as product selling). The approach is customer-oriented and more effective for companies seeking repeat business. It also differs from the transactional value selling model, which focuses on short-term sales goals.
With solution selling, your sales reps begin with open-ended questions to learn about the customer’s pain points and goals. Then, they offer a solution.
To be successful in this sales strategy, you must have a good understanding of your product. It’s true for B2B products, which often feature complex technical specifications and use cases. That’s why using a sales demo platform that offers customized, interactive solutions is so important.
