Solution Selling - expo.ppai.org

1 Solution SellingStop competing on competing with Bay, Las Vegas January 14-18, 2013 Professional Development January 14-15 Exhibits Open January 16-18 Copyright 2011 Newton Manufacturing Company. All rights Selling Stop competing on price. Start competing with Bay, Las Vegas January 14-18, 2013 Professional Development January 14-15 Exhibits Open January 16-18 The Solution Selling concept has grown considerably as key components of professional Selling evolve. Over the past few decades, Solution Selling has become more broadly defined to include dimensions of: sales process to reach a Solution , competitive Selling or value Selling as well as consultative Selling and complex or comprehensive Selling which all focus on a team aspect of , Solution Selling in the promotional products industry has also been refined into value proposition Selling . In other words, what products, and/or services you offer makes you uniquely different from the competition.

2 This school of thought also includes a higher perceived value to the customer by way of offering a great marketing and sales arsenal coupled with industry , many professionals in the promotional products industry embrace a commodity or product only frame-of-mind long before they approach their client or prospective customer. It s simply not enough to have a great idea or a cute product. This type of one-dimensional Selling fosters commodity Selling where price wars and bidding frenzies follow sales professionals agree, today s Solution Selling addresses more brand-building and marketing reinforcement opportunities, rather than implementing a reactive strategy to an existing problem, or simply Selling products as a commodity. The result is better solutions , satisfied clients and more profitable business the DifferenceEven though imprinted products reinforce the client s message where the item literally becomes a mobile billboard, the item is simply ineffective if a consultative approach is not used, and the client s core objective is not considered.

3 Buyers are already skeptical or guarded because they are under pressure to get the strongest return from their investment. The product itself simply is not justification to spend. The following chart illustrates key contrasts between Solution sell and commodity Selling or non- Solution Selling :ComponentSolution sellingNon- Solution sellingWebsiteBuilding credibility as an industry expertProduct descriptionsProducts and collateralWhite papers, case studies, ROI dataProduct spec sheets/brochuresSales presentationsShort, focusing on the client as well demonstrating a strong value propositionLengthy product overviewsSelling styleAsk questions and listenPitch and presentProposalsUnique and customBoilerplate or cannedSales cycle lengthLongerShorterChart Source: Copyright 2011 Newton Manufacturing Company. All rights Selling Stop competing on price. Start competing with Bay, Las Vegas January 14-18, 2013 Professional Development January 14-15 Exhibits Open January 16-18 Solution Selling consultants must ask the right questions to develop a full understanding of the client s market, while establishing credibility and trust.

4 That is why face-to-face meetings are so important. It s difficult to trust a sensationalistic Internet resource that promises the best price but lacks accountability after the the technology explosion of the Internet and online sales, many clients try to self-diagnose, giving them a sense of a placebo marketing expertise. What they are really seeing on the Internet is a myriad of commodity brokers and suppliers all fighting for marketplace positioning for the sake of the lowest price. They often risk obtaining an inferior product and the buying experience is less than satisfactory. Trust is built once the buyer feels the consultant understands their desires, fears, pains and anxieties, etc. Credibility is often established when the seller has some form of proven data, ROI or case study to reinforce his or her intent. Again, revealing Internet buying myths is a necessary burden for the ValueWhen using the Solution Selling approach to offer promotional products to your client, it s best to begin with their core objective, and then work backward.

5 The process starts by asking the right consultative questions to help determine what promotional products and services can help reach that core objective. All of this should be accomplished with a servant s attitude, making it all about the client never about the his Selling Dynamics model, consultant Phil Kash explains that a successful Solution seller is really not a salesperson per se. To earn a credible and trusted business relationship, the consultant must also: Speak the language of the customer Be yourself and believe in yourself never be contrived or scripted Demonstrate that you know their business Develop your own value proposition Discern between a clients wants and needs, and communicate accordinglyWith a strong value-added Selling concept, the sales consultant will enlarge the definition of value. Price essentially is what buyers pay; value is what they receive. That s why it s so important to get the buyer to focus on the objective and desired outcome, first.

6 Buyers care more about three dimensions of the sell: You - People buy from who they know, like and trust (continued growth and personal value proposition differentiators are also strong pillars in market positioning).Your Company - Does your organization support the buyer s needs now and in the near future? Are they qualified and credible?Product Selection - Is the item a trigger to initiate a call-to-action? Is it a conduit to drive home or carry a message? Will it last long and be seen constantly by the target audience? I ve always preferred the Solution Selling concept to differentiate me from my competitors. I ve had minimal success with commodity Selling for a very important reason: Being a price-only seller fosters short-term relationships; it adds to a higher attrition rate because anyone can buy products via Internet. However, not everyone can provide results-driven campaigns. Solution Selling is a long-term relationship builder in that it focuses on your clients objectives (not your product), thus establishing higher credibility and trust.

7 Drew Argotsinger, owner of BlueFish Promotional MarketingCopyright 2011 Newton Manufacturing Company. All rights Selling Stop competing on price. Start competing with Bay, Las Vegas January 14-18, 2013 Professional Development January 14-15 Exhibits Open January 16-18To increase your value as a Solution - Selling consultant, it is best to invest in your own personal research and development for continued growth. You are the product over which you have the most control. By doing so will help build your core competencies that help differentiate you from other sales to StartIt is paramount to conduct sufficient research to help understand how your prospective client goes to market before walking in to your very first meeting. Consultants are judged by what they learn about their client s problems, concerns and decision processes. To begin, ask yourself the following questions: Who are they and how do they go to market? Who is their competition? What is their primary revenue resource?

8 What primary channels of advertising do they use? What trends are affecting them now and possibly in the future? What industry case studies or historical data can you use for assistance should they choose you as a marketing arm? What charities or civic organizations are they involved in?Answers to those questions should provide a thorough overview of their business situation. With this understanding, it s time to pick up the phone, but before the call, ask yourself the following questions: What do I want to accomplish with this call? What do I want to ask the buyer? What do I want to tell the buyer? What collateral pieces do I need? What obstacles do I anticipate? What action do I want from the client at the end of the call?Consulting Your ClientsThe Solution Selling consultative model is a process proven to delve deeper into the buyer s psyche. Likewise, practicing the Solution Selling consultative process in each of the proceeding five stages helps engrain stronger competencies in the consultative seller.

9 The following process features segments from the book Value-Added Selling by Tom Reilly, and clarification points, shown in parenthesis, from business consultant Jim Immel:1. Opening stage (have a brief or elevator speech ready if time is short, and be prepared to consolidate and adjust) Introductions and pleasantries (relative to time allowed) State call purpose Ask for permission to probe (make the conversation about them, never about what you have to offer) 2. Needs analysis stage (listen carefully before asking) Ask situational or contingency questions (from general to specific)Copyright 2011 Newton Manufacturing Company. All rights Selling Stop competing on price. Start competing with Bay, Las Vegas January 14-18, 2013 Professional Development January 14-15 Exhibits Open January 16-18 Ask competitive questions (resist features and benefits comparison, as it leads to commodity brokering) Ask projective questions Summarize needs and help them take ownership of goals and objectives 3.

10 Presentation stage Ask involvement and mental ownership questions prefacing what if you or could you imagine if statements Offer your value proposition, including proof sources, ROI and case studies Always adjust to the buyer s style 4. Commitment or call-to-action stage Ask opinion questions Ask for commitment to action (only after establishing value and buyer accountability) Be prepared to defend your value proposition (but don t push,instead, pull them in) 5. Measurement and follow-up Pay attention to changing trends and adjust and measure accordingly Always follow-up, but be respectful of your client s scheduleNetworking plus Credibility = Exponential GrowthCredibility and validity are likely when cultivated relationships and superior customer service are a prelude to these valuable referrals. When clients are satisfied, they tell their colleagues, who tell other colleagues, thus the multiplier effect takes place. However, poor customer relations/service and bridge-burning has a similar effect but in the opposite direction, driving a reputable business business world has benefited in many ways from the social networking boom, including powerful tools to obtain referrals.