Sales Methodology Guide: 18 Popular Methodologies & Tips on How to Decide Which is Right for Your Business
- by Elay Cohen
- December 21, 2020
- Sales Skills
SalesHood - Sales Enablement Platform
According to the Sales Management Association (SMA) statistics, 8 out of 10 companies introduced a brand new product or service in the past 12 months last 2018, and over 50% of companies implemented a new sales methodology in its previous year. This data implies that you have to note sales methodology is one factor that can result in a successful sales process.
If you want a more comprehensive and useful sales methodology, you should consider what best suits your company. Fortunately, this guide provides a list of the best sales methodologies and tips to help you decide.
A sales methodology is a structure of support that outlines how your seller goes about every sales process stage. It presents discipline through best practices and a network of principles that interpret into seller actions. On the other hand, the sales process charts out an order of stages needed for complete success.
Whether it is working up for a sales call, upselling a big account, or evaluating an opportunity, the sales methodology expounds on how and what is behind the process. Moreover, it links the process to your customer or buyer’s needs and offers a roadmap for navigating each phase.
There should be a regular reinforcement and consistent application of your organization’s sales methodology to ensure its effectiveness. There must also be support coming through a universal language and formalized process, which supervises your organization’s sales affairs or activities. Furthermore, a sales methodology prepares your sales team with a scalable, repeatable, and practical supporting structure for your sales success in practice.
The methodology is the chief support of the system or known as your successful sales organization’s backbone. It equips your managers and sales reps with a predictable, repeatable, and scalable operating method that essentially identifies the organization’s ability to enhance win rates and obtain process maturity.
For a little history, it was in 1970 that the first significant development in professional sales methodology occurred when Xerox made professional Selling Skills. Moreover, a more substantial enhancement happened in 1985 when Stephen Heiman and Robert Miller launched their book called “Strategic Selling.” Strategic Selling by Robert Miller and Stephen Heiman gave a fuller account of the satisfaction of PSS’s needs approach. Additionally, the strategic selling by Miller Heiman popularized concepts, such as the “win-win” perspective and transformed sales, typical in today’s successful organizations.
Based on a CSO Insights report, an organization with an established mature sales methodology has higher success rates of quota fulfillment. In line with the current business climate worldwide, it is directly impractical to develop your organization’s sales capabilities in the absence of a reliable methodology that yields several essential benefits to managers and sales reps, involving:
A sales process is a guideline that aids your sales reps in identifying the appropriate next steps to carry prospects through the buyer’s trip to that last scale. If you think that your sales process may appear different compared to other companies, that is fine. A sales process must be distinct to your business based on your customer base, product or service, market, and industry.
Before you begin searching and attaining a prospect, it is essential to set up a sales process because a defined procedure prevents any loose ends. With it, your sales team can obtain the right steps before them to find, nurture, and acquire a new customer.
On the contrary, a sales methodology focuses on a single area of the sales process. It sets up unique techniques based on your business’ culture, values, and goals rather than applying it to the whole sales cycle. It is more of a strategy and the “how” of your selling conceptual idea.
One of the sales process and sales methodology comparisons is that unlike a sales process that must be distinct for every business, there can be a utilization of the same sales methodology for many companies. This methodology mirrors you as a business and encourages you to concentrate on your business’ culture and values to manage the right sales and customer.
It is a good thing that you can make sales. However, it is entirely different to search for a system that gives a measurable, repeatable, and scalable growth. Because of this situation, the existence of sales methodologies is highly necessary. Implementing a sales methodology enables consistency and transforms uncertainty into success.
There is no need to remake it when you have already found the right process sales method that works for you. Nonetheless, there are several selling systems that you can choose and can fit your organization’s goals.
As previously mentioned, there are different selling systems or sale methodologies that you can apply to your company. Here are 16 various examples of common sales methodologies which may work for your business:
In deciding on the different sales methodologies that best suits your business, you must first identify your needs. The suitable one should depend on the conditions of the sale of your business. Let us get into the mine of the top sales methodologies to find your company’s perfect fit.
Want your sales team to deliver record-breaking revenue growth? Of course you do!
For 30-plus years Selling Through Curiosity has been the most sought-after sales training and sales methodology in Silicon Valley. Barry Rhein’s sales training program helps leads develop the natural curiosity that will make selling your solution easy, and has been credited with producing Billions of dollars in revenue and shareholder value.
Here’s what you can expect if you opt for this sales training program:
From Barry Rhein himself, “Transforming a sales organization to obtain short-term and long-term measurable selling results is a complicated process. It’s why the majority of sales training programs fail. SalesHood provides the ongoing practice that is missing in all other sales training programs. It’s why our customers see immediate and long-term measurable results. I’m excited to partner with SalesHood to offer Selling Through Curiosity to every company, team, and the salesperson on the planet.”
We utilize Selling Through Curiosity in our platform as our preferred methodology and see customer after customer quickly gain significant revenue increases due to adopting this methodology while using our Sales Enablement Platform.
Target Account Selling (TAS) It focuses on selling at an Account level. Account based selling focuses on selling to established accounts – not leads – which tends to be a repeatable, structured selling method that allows sales organizations to shorten their sales cycles, establish definite and unique business value with clients, and lessen selling costs by allocating resources efficiently.
This methodology can also increase the sales for each employee and construct a successful sales organization swiftly by assisting new employees to be productive, quicker.
MEDDIC represents the following:
The MEDDIC sales method is a type of B2B sales model that focuses on the customer’s qualification. The MEDDIC sales structure’s primary concept is that better customer qualification results in higher sales closing rates. Moreover, this sales methodology operates more technologically and needs tight jurisdiction of the sales process or sales cycle.
Matthew Dixon and Brent Adamson, co-authors, are the ones who started the challenger sale by stating that just about every B2B salesperson suits in one of the five personas, which are:
The challenger sales methodology by Matthew Dixon and Brent Adamson is a selling system that develops reliable and trusted relationships and modifying their contribution from the competition. You can use this method when selling in complicated B2B sales settings so that the sales reps can manage the conversation to bring customers to your company’s distinct strengths.
Value selling is a sales method that leverages the customer’s anticipation of appreciating a product’s long term value. The Value Based Selling method focuses on making the customers feel as if they are receiving long term value that eclipses an upfront cost – the product is an investment rather than just a purchase or expense. When executed properly this type of selling and the sales conversation emphasizes how the benefits of the product will improve the buyer’s life using the asset at hand vs the actual features and facts regarding the product, and offers a personalized, lasting commitment that the buyer will receive maximum value and repayment in return of purchase.
Neil Rackham designed the SPIN selling method in 1988 according to research out of 35,000 sales calls. SPIN Selling or SPIN sales methodology aids the sales reps to ask the correct questions to determine how to serve the best solution and sell it to your buyer.
SPIN selling represents the four types of questions that salespeople must ask their customers:
These queries distinguish the buyer pain points and challenge them to create a good rapport among the seller and customer. This selling method’s utilization is best when the prospect has not identified their pain points or does not entirely understand what it means yet.
In her best-selling book, “SNAP Selling: Speed Up Sales and Win More Business With Today’s Frazzled Customers,” Jill Konrath established SNAP Selling. This sales methodology by Jill Konrath aims to tackle too little time and too much information for a buyer to decide. A salesperson needs to go straight to the heart of the dilemmas with this fast-paced sales setting. SNAP sticks to its four principles, which are:
S – Keep it simple
To make it uncomplicated for your prospects to close the deal, lessen the effort and difficulty in the decision-making process.
N – Be invaluable
Emphasize and present the value your offered solution gives to shine among the sea of options battling for the prospect.
A – Always align
There should be alignment in your conversations and solutions with your prospect’s needs and goals so that you can continue to be relevant.
P – Raise priorities
It can help if you raise priorities by creating urgency over your solution and demonstrating why your prospect must treat the issue as more important.
Furthermore, SNAP selling as a comprehensive method helps a sales rep acknowledge their customers and the sales environment to address their needs and go further with their expectations instantly. To make it simple for your buyer to purchase, you must contact busy potential customers at their level.
The Miller Heiman Strategic Sales Process is a consistent and repeatable sales approach that helps identify winning opportunities and adds value to customer relationships while simplifying a complex, multiple person sales process.
By focusing on a three-step solution to help address the specific challenge of selling when there are several people involved in choosing a solution to their problem, you can tailor your pitch/proposition so it resonates with their corporate AND personal objectives.
First you need to come up with your Why questions – why questions to determine who sell to, what does she want to sell, by when and what price and turnover.
After your Why questions are answered:
By analyzing the people involved in the decision at the organization, each of their characteristics and how then may influence a sale, you can create an overview to recognize strengths and weaknesses and potential arguments of each person involved in the sales process, and present your proposal in a way that resonates with each specific person’s strengths, weaknesses and satisfies their objections – both corporate and personal.
Consultative Selling is hyper-focused on the customers – not the product being sold. The consultative sales methodology prioritizes relationships and open dialogue to determine the customers needs and provide them a solution to their needs. This selling method helps sales professionals understand customers’ challenges better to place their offered solutions more compellingly.
In 1967, David Sandler developed the Sandler sales methodology, and still, it remains a significant and widespread sales structure now. It highlights building a relationship and customer qualification. This thought places sales reps as trusted consultants instead of hostile salespeople. These are the fundamental steps of the Sandler selling model:
This selling method stands out at creating a strong customer relationship that can result in sales wherein the buyer can feel as if the deal was their thought initially. Also, Sandler sales methodology is an excellent foundation that incorporates well with various sales environments.
The inbound sales methodology focuses on leading prospects to your company instead of carrying out a targeted outreach approach. Here, an inbound salesperson concentrates on identifying pain points, understanding the buyer’s journey, teaching and acting as a reliable consultant, and designing a unique solution.
One of the advantages of inbound selling is its less invasive, cost-efficient approach that shows interest leads to what you are selling. You can use this method at its best when partnered with an inbound marketing strategy. If you decide on an inbound sales process implementation, you have to ensure your company’s alignment across your teams to succeed.
The responsible for the development of CustomerCentric selling is Michael Bosworth. The customer-centric sales method advocates meaningful communication to determine the prospects’ needs and find the right solution to solve their issues and needs. Salespeople target principal decision-makers and ask questions to comprehend their case, alight with their needs, and provide an appropriate solution.
Here are the following eight components of the customer-centric selling:
One of the popular sales methodologies is solution selling, made by Michael Bosworth in 1988. In solution selling, the sales reps identify pain or particular issues and needs that the buyer encounters and suggest a product or service as a solution.
One high point of this sales model is that it keeps the conversation away from the usual product specification, and instead, it tackles the value that the solution brings to the buyer. If you focus more on how your product or service solves issues and satisfy their needs, you can place your business as advisers instead of pushy salespeople.
The provocative selling method focuses on a problem in the customers blind spot that needs attention critically. In other words – your customer is not aware of their issue, but when informed, they are eager to solve it. Salespeople should help their clients determine what they do not know and understand the pain of not knowing has on their business, and by focusing on problems and identifying opportunities the customer is not aware of, you have an open opportunity to insert product, service or other solution to positively impact their business.
Conceptual Selling is a widely-used Miller Heiman selling methodology based on listening and fully understanding the customer’s pain points. This sales model encourages a salesperson to research and actively listen to their buyer to create a mutual benefit in a customer-seller relationship rather than leading with a sales pitch.
In the old days of selling salespeople were talkers focused on talking about the features of their service or product – not to listen – whereas conceptual selling is designed to extract as much information as possible then relates the product or service directly to that concept.
Conceptual selling is best when working in an organization or industry that offers highly customized products and services.
Command of the Sale is a customer-centric methodology developed by Force Management (now called GrowthPlay) that focuses on helping sales teams further qualify their sales pipeline, focus on the right sales opportunities, identify customer’s pain points and guiding the buyer through their validation and decision process.
By focusing on the customers needs and working backwards, this method’s concept is about tailoring your organization’s sales empowerment activities and tools according to the existing solutions and spending more effort on qualifying leads and refining messaging about your sales value.
N.E.A.T. selling is a sales methodology focused on pinpointing the prospects’ most essential needs and pain points and acknowledging and fully understanding those while positioning your products as a solution. N.E.A.T. stands for:
This sales model concentrates on listening and understanding over speaking so sales organizations consider it more functional as a lead qualification process to determine whether or not a buyer is a good fit for the solution you offer.
Your sales methodology must suit your customer, market, and product or service. If any contrasting conditions happen, it can be unusual for both the customer and sales reps, leading to a negative effect. It can help if you note that you must first determine your needs and then distinguish the best sales methodology to give your issues the best solution.
Regardless of all the fancy and different names of sales methodologies, there are only five methods that govern B2B sales, which are the following:
Many individuals select sales methods according to what they find convincing, flashy, or new, which is wrong for decision-makers. It requires care and skills to create a balance between a too simple or too complex solution. However, you can begin with a note of your business’ sales cycle, average deal size, and several deals for each sales rep every month.
Selecting sales methods is one of the most vital decisions your business can make to operate a booming and reliable market. Each company must obtain a documented sales methodology recognized by every part of onboarding or training, sales reps, and strengthened by leaders and managers.
A sales methodology’s foundation is observing the sales phases and answering the sales process queries at every stage. From the steps and procedures, everything circulates.
In some cases, several businesses add or shorten a few steps, and the label of those stages must depict your business. Also, you will find that nearly all methodologies obtain a set of procedures and questions. Here are four operational tips for asking within your organization when you choose your sales methodology.
An effective sales methodology operates together with a universal language and a formal sales process that manages your business’ sales activities. If you lack any of these components, your sales method will likely provide an unideal sales impact. This scenario alone is one reason why mapping your entire sales process is necessary and beneficial to your company.
When you map your entire sales process, you can uncover impactful perceptions so that your business works and fosters essential communication and collaboration among your teams. From Sales and Marketing Alignment Statistics, it shows that organizations can enjoy an increase of 36% in customer retention rate when sales and marketing are in alignment.
Additionally, mapping your sales process permits you to unveil possible inefficiencies. From these things, you can then enhance your sales division based on your business’ objectives and goals.
In today’s challenging business conditions, carrying on a competitive edge is vital. One of the essential tools or instruments that help organizations stay in a position likely to succeed is your strong sales team. According to a SalesForce Training study, the salesperson’s competence in a B2B setting is the most significant component causing the buyer’s purchase decision. However, achieving the anticipated level of progress on your own can be tricky, so it is ultimately necessary that your business is molding the right sales methodology training.
After recognizing the different top sales methodologies, the first thing you should do is choose the right one for your company. Once you have decided and selected your sales methodology, these are the things you must do for its implementation:
Manage periodic refresher training through workshops or lunch and learns to guarantee that there are correct acquisition and utilization of the methodology in progress
During coaching, deal strategy sessions, pipeline reviews, and opportunity huddles, you should lean on your chosen sales methodology.
If you don’t include your sales methodologies in your organization’s sales culture and not make it a part of your communication every day, it may fail. Being the sales leader, you must ensure the success of your sales method.
There are significant benefits of implementing a sales methodology and empowering your sales team with it. Here are a few reasons why a sales methodology training is beneficial to your company:
Sales methodology training ensures that your sales team works more efficiently because established procedures help them sell. There should be a process that serves as a guide for your sales team when dealing.
Empowering your team with this kind of training aids your organization for a clear designation of every department’s roles related to sales.
Through well-defined sales methodologies, you can empower and promote continuous improvement among your teams. Standardization helps in clarifying the needed development or supplementary skills for the success rate of your sales.
No matter what sales methodologies you use out of the many popular sales methodologies out there, remember that the means to a successful sales model is regular and consistent training and reinforcement. Take note of the sales methodology’s best procedures to keep your team updated and incorporate the sales model into your organization’s culture and structure.
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