“You sell me this pen.”
Have you ever heard that line before? Even if you’re a new player in the business game, something comes to mind. It’s either Jordan Belfort or the movie The Wolf of Wall Street in general.
Do you remember when he asked his chums to sell him a pen? You remember digging your nails into your palms and groaning out loud. That’s because one guy’s pitch was a lot of “Oh, this pen is great!” and “It has everything you need in a pen!” and “Here are the boring, mindless features of this basic pen!”
Don’t be that guy. Instead, be the guy who listens. Know who you’re selling to and how they can benefit from your pen. Be the guy who cares about your prospect’s job and success when they use your pen. Be the guy who sketches a portrait of emotional intelligence with your pen. Be the guy who gives your prospect the pen back because you don’t need it anymore: you closed the deal.
“But how do I just become that guy? Who do I have to know?”
It’s not “who” you have to know. It’s “how” you prove that you know the answers with your selling system.
What are the 4 Types of Selling?
You can’t master a premium-grade selling system without help along the way.
It’s a mix of all of the factors, influences and steps that go into profitable sales.
It’s your sales methodology or the sales approach that your team takes when they walk into every phase of the sales process.
Your selling system is the way you infuse key sales philosophies into your top talent.
It’s the answer to how you want your sales reps to sell. How do you want to come across to your customers? Can you use it time and again with the same success rate? An esteemed selling system makes sure that you do.
You might switch up your selling concepts for various situations. But first, you need to understand the four types of selling.
Here’s an overview:
- Transactional selling
- Solution selling
- Consultative selling
- Provocative selling
Transactional selling is ideal for straightforward goods. You have multiple competitors, so you ensure your prices and convenience with that in mind.
Solution selling is customer-centric selling at its most primal. It’s when your product or service solves your customer’s professional problem. You know everything about your customer. It’s value-based and plays into tried-and-true methods like conceptual selling.
Consultative selling is when you open the door to conversation with who you’re selling to. Consultative sales build relationships so that you can best understand the customer’s problem and how you can solve it.
Provocative selling is when you hear what your customer thinks they need, but you realize what’s missing because of their blinders. You tell them what they actually need and show them how to get it.
What is the Difference Between Marketing and Selling?
You know that “marketing” and “selling” are related. One walks in and the other is close behind. But these relatives aren’t so many twins as they are close-knit cousins. You can’t have one without the other. They depend on each other.
Selling is when your products turn into their products and your money. But you can’t get there without marketing. Marketing is how you get those products or services into the line of sight of your target market. It’s how you appeal to them through serving customer needs and satisfying them.
You can’t have sales without marketing because you won’t make sales without creating and sustaining desire. You can’t have marketing without selling because you won’t have the budget to market without the right amount of sales.
The 6 Factors of Your Selling System
Your selling system framework needs to be cutting-edge. It has to inspire creativity and drive success. It draws on lauded sales systems like SPIN sales to achieve your business goals.
If you take advantage of the right one, it serves as a framework that does so much more than you realize at first glance. It’s a custom-fit blueprint that runs your unique business and ensures its growth.
But when all is said and done, it revamps and maintains your selling processes. At the same time, it upholds your authentic voice and brand values.
So make sure that your selling system reflects the following six factors. If it does, there’s no telling how far your business will go.
Internal and External Communication
Your selling system reflects your one-of-a-kind voice. It highlights the kind of company you operate. So make it a good one.
But never forget that honesty is the best policy, especially with internal communication. With your team, there’s no room for pretending or entertaining your flights of fancy. If you’re not truthful on the inside of your organization, your external communication fails too. The modern buyer is intuitive.
After you align your internal and external communication, that honesty spills over into your selling processes in the best way possible.
Again, take a step back for an objective look at your internal and external communication tactics. Then start to build.
Sales Processes and Training
Your sales process is a series of repetitive steps that see your sales rep all the way through. It’s the set of ways that they use to walk a prospect from the beginning of awareness to the end of a closed sale.
This process benefits your target audience because it zeros in on your potential customer’s journey. It’s also advantageous for your sales team since it serves as a GPS they use to drive your customer to success.
The traditional sales process is extensive. It involves:
- Handling objections
- Closing the sale
Since it’s not just one step, you have to ensure your sales department is always on their A-game with sales training. A company that helps you develop your selling system also teaches your team leaders how to train your reps for long-term success.
They reinforce the sales process with lessons that last. A quality sales training technique goes with the flow and addresses the learning curve. Everyone learns differently. Hammering your processes into your sales reps’ brains is no more successful than not teaching them at all.
Employee Compensation Models
You have to pay your employees. They need to get a paycheck at the end of the week, month, or however you structure it. You can’t argue that fact.
Some people, however, require more compensation than others. Employee pay rates are based on things like:
- Productivity levels
- Unique skillsets
- How long they’ve been with your company
- And the list goes on
Plenty of additional factors influence their compensation, too, like:
- Labor market value
- Union regulations
- Social climate
- Established company policies
- Minimum wage requirements
While you need to consider all of this, your employee compensation model must prioritize overall business goals. This is especially true since external factors fluctuate pretty much every day. You can’t increase or decrease compensation every day just because your opportunities and threats vary daily.
Compensation is double-sided. It affects both your own/your business’s budget and the number in your staff member’s bank account.
While pay is one element of compensation, there are others to note when you customize your selling system. These include:
- Non-monetary rewards and prizes
- Training and career development
- Team coaching costs
The short answer to your employee compensation model is that there isn’t a short answer. There are a lot of areas to consider. That’s why there are professionals who can help.
Recruitment and Onboarding
When you recruit and onboard top talent, you don’t want to see a high turnover rate. You want them to stay with your business for as long as possible.
A high-class selling system takes that into account. It lets you choose the best training programs to boost new-hire excitement. It motivates them right off the bat.
You can then lay out clear expectations of company morale and team values. Your selling system won’t leave any room for doubt about what your business is, what it expects of new hires and what they can expect in return.
Not only that, but your selling system itself helps attract, pick and retain top talent.
Product and Service Pricing
Another key element to address in your selling system is how you’ll price your products and services. It’s essential for a productive sales model.
If your prices for a product or service are either too high or too low, you decrease cash flow and stunt business growth. Of course, you have to modify prices sometimes to keep up with your marketplace. Your selling system helps you with that, too.
Your prices have to align with your budget. You obviously have to make a profit. But also ensure that they’re on track with market demands and competition.
Selection and Production
Your products can’t do everything in the world all at once. But with the right selling system, they can get pretty close.
Make sure that you know your target market’s needs. That includes both what they say they want and what you know they need. Then, if one of your products doesn’t offer them everything they need, you should offer a selection of alternatives that do.
You have to have the right products. They also have to be there at the right time and show up in the right place to land with your audience.
You hear the typical training and selling solutions all the time: Sandler Training, ASLAN, and everything in between.
But you need a selling system that actually gets you results. You need to stand out and keep growing. That means you need something revolutionary.
Selling Revolution has the solutions you need. Our experts have over 65 years of combined experience. That’s how we formulated our intentional and tailored selling system. There’s no time to wait. The opportunity is here for you right now. So as you head to our site and book a call with us, ask yourself this: “Do I want to succeed right now or in the long run?” (Hint: with Selling Revolution, you can have your cake and eat it too.)