What is Solution Based Selling?
Solution based selling is having an in-depth conversation with a prospect to uncover pain points in order to better understand the prospects’ needs. It is imperative to not only identify the prospect’s pain points, but also get the prospect to acknowledge that the problem exists and discuss business solutions to alleviate it. This is incredibly important in lead generation. Organizations shouldn’t just simply telemarket to prospects, but rather better understand their needs to convert the lead into a sale.
Solution Based Selling Techniques
Establishing a level of trust with the prospect is important in order to become their trusted advisor. Sales teams should take the time to establish a rapport with the prospect and demonstrate genuine interest in their success. Typically sales teams that go into each sales situation with this mindset will find a greater chance at closing more business.
Rushing straight into a sales pitch without understanding the prospect’s situation is a foolish proposition; which is why a large part of solution based selling is discussing the prospect’s current state and desired state. Ideally this lead generation discovery process is conversational in nature, with questions that tie back to business product or solution that is being sold. For example, if the business solution offers less risk for technology deployments, sellers would ask:
“How did your latest deployment go throughout the organization?” Sales teams should also discuss if the deployment “Was on time and on budget and what challenges did you face?”
Once the discovery conversation is complete and the prospect pain points are summarized, it is time for sales to equate the business solution back to the prospect’s needs. An example of how to appropriately and effectively do this is:
“Mr. Customer, part of our services includes technology specific health checks and risk assessments. You had mentioned that your SQL migration failed initially because of data corruptions. Utilizing our health check solution would have identified these issues prior to migration and prevented the failure.”
Develop a pipeline
– We aren’t talking about just another list of names and numbers. This is finding prospects where your product or service would be a good fit through a process of lead generation. There are many ways to go about lead generation and businesses should depend on both inbound and outbound marketing techniques to gain the business of new customers. One effective method of lead generation is telesales. Telesales lead generation is a cost effective method of vetting prospect interest to successfully fill the sales pipeline. This is because prospects are contacted by a lead generation sales team to determine if lead conditions can been met. Typically this includes budget, authority and timeline criteria. Many organizations have seen higher sales conversion rates due to telesales lead generation.
Requirements for Success
In order for lead generation solution based selling to be successful, the conversation between sales and the prospect must be interactive. Asking the prospect questions like:
“You can see how this would be beneficial?” or “Can you see how this component would allow you to better predict future outages?” make it relevant.
Solution Selling is simply a sales methodology. Organizations position their solution by making it compelling in order to trigger a buyer response. While there are many schools of thought on how to accomplish solution selling, the goal is always the same: take the prospect from a current state to a desired state with the least amount of risk.
Want More Insight?
Contact Invenio Solutions to hear how we have used integrated marketing efforts to help multiple organizations grow sales, increase their lead pipeline and generate more revenue with lead generation and telemarketing programs.