It means selling to the prospects on the basis of their needs. The sales representatives analyse the problems and complaints of the prospect and suggest them accordingly. It requires a deep knowledge of the prospect's professional background and their issues.
Solution selling methodology
Here are few steps to get started with solution selling:
- Prospects: Identify prospects that are facing problems that your products or services can solve.
- Discover: Without asking questions you can't diagnose the issues faced.
Few sample Questions:
- What is not working for you?
- What are your business goals?
- What are the factors holding you back?
- How big is the issue?
- Providing value: Pinpoint the reasons why your services or products are ideal to deal with their problems. Instead of highlighting the features of the product, showcase the solution.
- Offer: Provide a customised offer and draw out a clear selling point like:
- Return on investments results backed with real case study
- Operating cost reduction
- Close the deal: Arrive at a beneficial solution mutually and close the deal.
What is the solution selling process?
It is a technique of listening to the problems and catering to the consumers needs.
Few steps involved in solution selling process are:
- Familiarity with your own product and becoming an expert.
- Assessing the needs of the customers is essential before offering the product.
- Establish durable customer relationships by sharing value and understanding their problems.
Overall, Solution selling is a great method to sell with value but it comes with its own pros and cons.
Few advantages of solution selling:
- It is consumer friendly.
- It is a well developed methodology of selling.
- Can be adopted by any kind of business model.
Few disadvantages of solution selling:
- It can be a complicated process if the sales rep lacks knowledge.
- Can make prospects feel cornered if not executed properly.
Solution selling vs. Consultative selling
While both focus on approaching the customers by learning their needs and providing solutions.
Here are some important differences between solution selling and consultative selling:
|Solution selling||Consultative selling|
|The process is dependent on the sales representative's knowledge.||The process focuses on helping rather than selling.|
|Sales representatives determine the problem and offer the product right away.||Trust is built over time as it is a long process.|
|Focuses more on the outcome.||This focuses on all the steps of the process.|
|It revolves around the product.||It revolves around establishing customer relationships.|
What are the must have Solution selling skills?
- Know your customer: Analyse what problems are faced by the prospects in their current situations.
- Play multiple roles: Work as a strategic partner as well as a customer consultant to build a relationship of trust.