Do you like to go with the flow, tiptoe in the shadows and fly under the radar? If so, Insight Sales is not for you. Insight sales is based on persuading clients to break with their outdated, faulty business strategies in exchange for new solutions. Convincing clients to ditch their current strategies is never easy. It takes the kind of courage that comes from truthful insight.
Once upon a time, you could just show up to an appointment with a few product samples to make a sale.
Wow, times have changed. In 2011, it became obvious that traditional sales methods such as solution sales were becoming outdated. The solution selling strategy was based on a buyer’s dependence on salespeople for industry know-how and product information. Buyers depended on sellers for solution particulars and guidance. This started to change as buyers began to use the internet as their main source of industry information. Suddenly, salesmen found themselves replaced by mounds of industry information easily accessed any time online.
Fast forward to 2018 and times have changed again. Ironically, the same access to industry information that helped buyers become self-sufficient has now become so vast and overwhelming that it is stressing buyers out! Sorting through and assessing solutions has become so complex that buyers are looking again to salespeople for help.
This means you are a treasure trove of insight to a questioning customer. The value you bring to buyers lies in the goldmine of information you’ve acquired by living in their world. You’ve witnessed their challenges and have seen how different solutions work.
That’s the “insight” in insight selling.
Pair that with the ability to communicate the insights through a thoughtful story to your buyer, and you have an effective sales strategy.
"Your products and services are far more valuable when your prospect is mistaken, confused, or completely clueless about their true problem." - Daniel Pink, To Sell is Human
Follow these 6 Steps to Successful Insight Selling:
1. Double Vision
To be successful in insight sales, you must have the ability to focus on your client’s known and unknown pain points. First, address the challenges they are aware of; then, solidify your place as an expert by warning them of the challenges that lie ahead. Once again, your unique position in the industry has allotted you certain information that may not be obvious to your buyer. Use that information to build your credibility as a problem solver.
2. Work on the relationship
Share ideas and help the customer think things through. You're not just there to sell them something -- you are there to inspire change and provide valuable input, even if it's not directly about your company. At this stage, all input should be vendor-neutral anyway. This builds loyalty and trust in a way that few other things can. You should be using the insight you give to build credibility. Be patient and engaging, sharing tips that lead a trail to your door.
3. Get down to the nitty gritty
Research, in detail, how your solution will handle each individual client’s issues and compare it with the competition. Memorize the pros, cons, ups and downs of each solution to use to your advantage. No need to conduct a smear campaign; just employ the facts to make a persuasive argument. Being honest about a competitor’s good points and sticking to facts to prove that your solution is better will improve your overall sales performance.
4. Create a custom solution for the customer
Build a custom solution for each client’s specific situation. Collaborate with your product development team to understand more about your product and its capabilities. Does it satisfy each customer’s needs? More importantly, what does your solution do to solve your customer’s unknown needs? At this point, customers need solutions in the context of their specific situation.
Connect a mind-blowing insight to your solution.
Prospects want to be wowed. Share insights in the following ways:
- A surprising data point
- A disruptive perspective
- A provocative question
Then, connect the new insight to the custom solution you created just for them.
In today’s competitive marketplace, it is crucial to stand out from the competition. Insight selling helps you make your mark in the marketplace because if you do it right, no one else will have the insights you do. Now that you know this, go boldly to reveal solutions that solve your buyer’s biggest needs.
If you happen to need some help getting those insights, SurveyMe is here to help. Call our CX Team. We are standing by!