At Growth Arc Advisors, we operate with a model based on consultative selling. Consultative selling in its simplest articulation is the ability to:
- frame the right client problem
- effectively diagnose client issues
- giving advice to change perspectives
- co-creating a solution
Shifting to more consultative approaches can yield 40X returns on the investment in sales force development.
Contrast to Traditional Methods such as Value Selling
Traditional product based sales methods which have been around for 20-30 years are primarily “pitch-based,” moving from awareness to sampling to pitch rather quickly. Value selling approaches are a good improvement to that approach, whereby, sales professionals better qualify a match, and amplify the business case, making sure there is validated value that can be supported.
However, the notion that there is a single problem, and that the customer understands it clearly is naive. In fact, this mindset places one along side ones competitors pitching against the same problem. Research shows that customers aren’t always clear on their problem; they don’t want a pitch until they have formed a clear understanding of their problems, and many times they hold beliefs that create blind spots or barriers to consideration.
There is competitive advantage in being able to help the customer frame their problem and reveal blind spots they may hold before you assess the possibility of a product match.
A Consultative Framework is Advantaged
This ability to help clients frame their problems, and reveal blind spots is a key differentiator for trust building in a relationship, which is in turn a key advantage to closing the sale. This essential forms the heart of a consultative approach.
The ability to develop trust forms the basis for a cycle of advisory potential where a rep can become a go-to source for advice and thought, and in so doing, prompt a customer’s thinking about a topic. This is crucial both to winning new business and expanding existing business relationships.
Getting it Right
The method is commonly implemented through development of a playbook that codifies the key perspectives that sales may develop around their product base and customer issues. Subsequent training and behavioral coaching is used to ingrain these approaches in a sales professional’s repertoire.
More Info
I recently discussed Consultative Selling methods with one of our collaborators, Mike Griffiths. Mike has worked for more than 30 years as a consultant and educator specializing in building consulting firms, and consultative selling techniques. Below is some more perspectives on consultative selling.
Consultative Selling - Essentials
What Customers Want and Top Sales Reps Do
The Power of the Point of View in a Consultative Sale