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How to Sell in a Changing World
In a growing economy B2B sales was like soccer, with twenty-two players and thirty balls – each ball a sales opportunity, with goals and deals aplenty. Good players could score easily, and even unskilled players experienced success. But now, the economy is shrinking, and things are different. There are still twenty-two players, but only one ball. Now, to win in this economy, it seems like you need to be Cristiano Ronaldo.
The game has changed
It's clear that for B2B sales, the game has changed. With a slowing economy, and businesses reducing expenses, the old methods of building relationships and ROI calculators are simply not enough. Adding to this is that many salespeople started during a decade of economic growth, and don't know the rules of modern sales. It’s hard to play the game when rules have changed!
You can’t score if you don’t have the right technique
What you need to do is understand the new rules of the game. Consider what skills and techniques you’ll need to succeed in the current climate.
One thing I see is that a lot of salespeople lack good deal qualification skills. What this means to you is that you’re wasting time following up poor quality leads that won’t close.
Scoring the right goals
This where I suggest using a simple framework called the 3-P's: Priority, Problem, and Payback to help better qualify your opportunities and pursue more viable deals. First, seek to understand your customer's priorities; Whether it's growing revenue by entering new markets or launching a new product. Ask them, “what do you need to achieve?”. Focus on what they must deliver as a business.
Then, identify the challenges that are stopping them from delivering these priorities.
What are the problems that are stopping them from delivering these – can they identify what these issues are? And, importantly, can you help them solve problems they didn't even know they had?
Finally, have them recognise the ‘payback’ of solving these issues. Specifically, what is the value to their organisation, to their customers, of solving their problems. Can these be measured, and what would solving these mean to their business goals?
By focusing on qualifying the right customers, and taking the time to understand their needs, you’ll begin to score more goals for your business.
Sales is a contact sport – let’s get out there!
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