Sales acceleration is one of the most effective ways to improve your company’s revenue, and there are numerous strategies that can help ramp things up. Of these strategies, focusing on solutions selling is one of the most important. Below, you can learn more about implementing solutions selling to speed up the sales funnel and boost revenue at your organization.
The Basics of Solutions Selling
Whether you’re selling a product or service, it’s important that you adopt a strategy that fits your brand’s mantra. Though solutions selling has been around as long as sales itself, it is still commonly used today. Essentially, this strategy involves salespeople determining what a lead truly needs, then making product or service recommendations that fill those needs and provide value.
Though this may seem straightforward, it can be a little tricky. Sometimes leads may not even be aware that they have a problem that requires a solution. In these cases, it is up to salespeople to assist the lead in several ways – since identifying the problem is only the first step. Once the lead knows their problem exists, the salesperson must also address other factors such as potential implications, the urgency in finding a solution, and what the solution should look like.
The Sales Process
Sales acceleration is all about speeding up the sales process and moving people through the funnel more quickly. Simply put, it allows your company to sell more efficiently by optimizing the performance of your already existing salespeople. Solutions selling can do just that when used appropriately. There are six steps in the process:
- Prospect – Identifying leads who have a problem that your product or service can solve.
- Qualify – Learn who makes the purchasing decisions.
- Discover – Work with the lead to diagnose the potential problems.
- Add Value – Work directly with those who can make decisions and show the value of your proposition.
- Present – Show the decision maker a proposed solution and how that solution will provide a return on the investment.
- Close – Create an agreement that benefits both your company and the lead, thereby converting that lead into a buyer.
When to Use Solutions Selling
In the day and age of information, it may seem as if solutions selling is a dead end. After all, consumers and business owners alike should already be aware of their problems and all the available solutions. However, this is not always the case.
For example, if a lead is clearly unhappy with their current product or service, solutions selling can provide distinction and prove how your product or service is superior. Along the same lines, solutions selling is almost always ideal if your company provides a highly customized product or service like a technology bundle that is fitted to your customers’ exact needs.
Selling a product or service is all about proving its value, and there are several strategies you can use to do just that. Though solutions selling is not as popular as it once was due to the sheer availability of information, it is still considered a superior sales strategy in specific situations. When salespeople follow each step and utilize technology to enhance the process, solution selling can boost sales acceleration efforts and significantly increase revenue at your organization.