What is strategic selling?
Most Industries have always targeted a handful of ideal customers who become important targets. Sales people work hard to obtain the numbers of CEO’s and Managing Directors of top companies, which means logically that there are most likely 500 customers for a million sellers.
Sales people have a big challenge on their hands with such intense competition. It is important to develop different strategies to show that their products, services and organisations are what the customer needs. Planning is important when trying to make a sale which means practising the pitch and knowing when to sell the product.
Strategic selling starts with getting to grips with the company’s strategy, vision, unique selling point and selecting high profile customers. Sales training programs can be taken to give you a further edge on the selling sides.
5 strategies to use when selling
- When the product and service fit exactly to the customer’s needs, then there are no reasons why you should approach the sale head on. The sales team need to be confident in their sales pitch and need to close the deal as soon as possible.
- When you don’t have a confident customer, you need to take into consideration that you might need to change the criteria of your selling speech. You might need to put forward a breaker tactic to use at the right time to win over the deal. The tactics should involve the price of the product or service or you could throw in a little extra.
- Sometimes when you make a cold call to a company, you can sometimes be met by someone who is not the decision maker or they tell you that they are not interested. In these situations you need to make sure that you leave your contact details and research on the decision maker and ask directly about them whilst keeping your identity obscure.
- At times when you are losing the business, take a break from selling and gather your pitch. You need to revise your pitch and give the company some space to pick a different product from your company.
- To have a win – win situation you need to engage the customer as part of the sales strategy. This is important to only use this on customers that are happy with their service or product and if they influenced the deal early.
Strategic selling variables
- How well or poorly are you positioned with the company decision maker?
- Whether your customer is happy.
- If you have the resources to win and deploy the solution.
- Whether you’re pricing is suitable for the customer.
- How long you have been working on the opportunity and whether it has influenced a decision.
- The technical fit of your offer with the company.
London Training of Excellence offers strategic selling courses that help you identify and convert sales opportunities into closed business. London TFE offers a sales training course called Strategic Selling and its effect in winning and retaining customers, this course offers an insight into real world situations and enables you to create a detailed sales pitch.