Small and mid-sized companies face the daunting challenge of competing with large companies with vast networks of resources and connections. At times, it can seem to be an overwhelming uphill battle. Using these tried and tested sales strategies, such at the “Challenger Sale” discussed below, small to mid-sized companies can have success in the marketplace.
The Challenger Sale Strategy is based off of the idea that, according to Docurated, buyers are completing around 57% of the buying process before even speaking with a sales rep, due to the availability and accessibility of free product information online. A simple, traditional sales pitch that focuses on solutions and product benefits just won’t cut it in today’s market.
The mindset of a Challenger seller is different than the other sales mindsets. The Challenger salesperson takes on the role of a teacher. The salesperson must offer insights into the potential client’s business that the client hasn’t thought of before, and must take charge of the conversation. A Challenger isn’t afraid to debate. A Challenger will take their potential client on an emotional journey following these steps:
- Warm-Up– By “reading” the customer’s mind, the Challenger establishes credibility and demonstrates empathy.
- Reframing– The Challenger describes a previously unrecognized problem, need, or assumption.
- Rational “Drowning”– Challenger gradually intensifies the problem and brings it closer to the client.
- Emotional Impact– The problem is made personal to the customer, and is humanized.
- A New Way– A new framework and values to solve the problem are linked to the supplier.
- Solution and Implementation Map– Create a map of the solution, leading back to the teaching points, and create a strategy for the implementation of the solution.
Another great resource to refer to for all your business concerns is the US Small Business Association.
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