Every salesperson hits dry slumps throughout their career. Sometimes, the best way to get out of this slump is to change your approach. A new sales technique can shed new light on your product both to yourself and to your sales opportunities. Implementing a new technique helps for first-time contacts, as well as for those hard to get buyers who have been sitting on your sell list for months.
Refresh your approach with one of these sales techniques to win the sale:
MEDDIC sales structure is a great way to approach a potential sale when you are dealing with multiple positions in the targeted company. MEDDIC stands for Metrics, Economic buyer, Decision criteria, Identify pain, Champion, and, Compelling event.
The sad truth of the matter is that most sales pitches don’t end up closing the deal. MEDDIC is a fantastic method to qualify a prospect, because the first four steps are analyzing the situation before even introducing yourself.
Once you’re in the door, it is suggested to really hone in on a “champion”, who has an internal position with the group you are selling to and is someone who will push for this deal to occur even when you’re not around. This combination of carefully choosing your battles and having an inside ally makes this method deadly for winning sales.
SOAR is the perfect approach to develop a team around and works particularly well when pitching to executives or higher up members of a company. Before making the actual sales call, you must make sure that you have an approach set up to ensure the potential buyer that you aren’t wasting their time and that this product is for them.
This may sound obvious, but it’s a method that works, because, according to Dialexis, callers will get in with a cold call to high influencers and decision makers 90% of the time, which equals less calls and more appointments. SOAR is really all about understanding who you’re selling to and making a connection.
The Four Behavior Groups SOAR identifies are:
Something that makes SOAR extremely useful is its ability to apply customer relationship techniques to social media. A quick, detailed explanation of using the SOAR technique to prepare sales strategies can be found here.
SPIN is one of the more well-known selling techniques. SPIN targets discovering the customer’s problem. Once these problems are recognized, the seller can suggest implanting the seller’s product to fix this problem, providing a clear win-win for the seller and buyer. SPIN stands for Situation, Problem, Implication, and Need-Pay-off questions.
A warning many point out with SPIN is that it does not work particularly well for large scale projects in which you have to deal with multiple decision makers.
Hitting a dry slump in your sales career does not indicate you’re a poor salesperson. Oftentimes, the method you or your company uses could be outdated or you just need a different strategy to provide a new look at the prospective sale. Try one of the methods mentioned in this blog post to refresh your approach and win the sale.
What sales strategies do you and your organization use? Let us know in the comments below!