The New Rules of Modern Selling

In our previous blog, we explored the concept of BANT like models - understanding a customer’s budget, authority, need, and time frame to accurately forecast when a customer would place an order. But as the game has changed, so have the frameworks that we need to use. As a result, we need to look to newer ways to approach deals.

The game has changed

Sales is not what it used to be. Gone are the days of drumming up easy deals, repeat orders, sky-high demand and booming order books. In a slowing economy, the rules have changed and the well of quick deals is drying up. Our customers are now telling us that:

Deals are taking longer to close

Deals are often being lost to ‘do nothing’ as capital investment is paused

It’s harder to find new opportunities

There are less inbound leads

Leading with an insight – the 3’Ps

In today’s climate, leading with the status quo won’t work. Customers are looking for people who take the time to understand their business, problems and priorities. Here, the key to success is leading with an insight – by showing your customer new ways to achieve their goals by using the 3-P’s: Priority, problem and payback.

What this means to you

What this means to you is that the person you are dealing with might be interested in what you have to offer, but unless you are aligned to their current business priorities, the deal will stall.

What you need to do: Start asking - using the 3 P’s

In every meeting you go to, at the top of your notepad, write the letter P three times – one for priorities, one for problems and one for payback. After you leave your meeting, you should be able to clearly articulate what your customer is trying to achieve (priority), what’s stopping them from achieving it (problem) and what their payback will be if you are able to help them deliver. Start by asking about your customers’ business priorities and note them down. For instance:

“I note from your website that the most important thing that your business is focused on right now is….? Has anything changed? Is this still a priority?”
“What initiatives are you working on that are linked to that priority?”

Then, ask them more about the problems they’re facing:

“What's stopping you deliver those priorities?”
“What's the single biggest thing you think you could do, or maybe even the top three things you’d like to do, to help you deliver those priorities?”
“Do other people agree that that's a problem?”

Lastly, focus on the payback that they’ll get from solving these issues:

“If we can solve that problem so that your priority can be delivered, what does that mean to your business now?”
“Are you able to measure the value of solving the problem?”

Try and get them to quantify what solving their problems means to their business – whether it’s revenue growth, cost-savings or improved efficiency.

In just a few questions, you’ll be able to draw a direct line between your offerings, and the results your customer is seeking, all while proving your value in the process.

Sales is a contact sport – let’s get out there!