As a technology sales executive, you know that in order to be successful, you need to be highly strategic. But what does that mean exactly, and how can you become a more strategic sales professional?
In this blog post, we'll explore the key to strategic selling and offer some tips on how you can put that strategy into action. So, whether you're just starting out in your role or looking for ways to up your game, read on for insights into becoming a more strategic seller.
How does strategic selling differ from traditional sales methods?
Traditional sales methods are based on a reactive approach. Salespeople often focus on closing the deal as quickly as possible, without taking the time to understand their customers' needs or build a relationship.
Strategic selling, on the other hand, is more proactive. It involves looking at the big picture and thinking long-term, rather than focusing solely on the immediate sale.
It involves taking the time to research your target market, identifying potential customers before reaching out and building a relationship with them. This approach leads to more successful sales outcomes in the long run.
In order to be successful in this field, you need to be able to think strategically about your targets and how to reach them. You also need to be able to build strong relationships with clients and understand their needs. Strategic selling allows you to do all those things and more.
Here are 6 tips to becoming a more strategic sales professional
1) Understand your buyer's business and how they make decisions
When selling to businesses, it is important to understand their industry and how they make decisions. You need to know what factors influence buying decisions, and what objections they may have.
You should also be familiar with your buyers' business model and how they make money. This will help you understand their needs and figure out how your product can help them improve their business.
2) Identify the decision maker(s)
It is important to identify your target market, which includes deciding whether you are targeting only one person or a committee. Per Gartner 2020:
"the average tech purchase involves between 14-23 people, the majority of whom (80%) are in senior operations or product roles. And, as the spending increases, so will the size of the buying team."
You should try to find out who has authority to make decisions about purchasing technology, and what their pain points are. It will also help you determine what messaging would be.
3) Build the relationship by providing value early
In order to build a successful relationship with your target market, it is important to provide value early on. You can do this by educating them about your product and how it can benefit their business.
You can also provide useful resources, such as case studies or white papers, that will help them make informed decisions.
By providing value early on, you will establish trust and credibility with your buyers. This will make it easier to sell to them in the future, and you will be more likely to win their business.
4) Qualify your buyers to ensure they are a good fit for your product
When selling to businesses, it is important to qualify your buyers to ensure they are a good fit for your product. You need to make sure they have the authority to make decisions about purchasing technology, and that they understand how your product can benefit their business.
You should also research your buyers' industry and compare it to your own.
This will help you understand whether they are a good fit for your product. If there is a significant difference between the two industries, it may be difficult to sell to them.
5) Position your product as the solution to their problem
Make sure they understand how your product can relieve a pain or solve a problem they are experiencing.
You can do this by highlighting the unique benefits of your product and differentiating it from your competitors. You must show them how your product will improve their business.
When you position your product as the best solution for their needs, you increase your chances of winning their business.
6) Follow up after the sale to ensure satisfaction and future business opportunities
This is often the most overlooked step in the process. Strategic sales professionals would never abandon their new clients after closing the sale. In fact, a true professional understands that 40-60% of the full value of a client relationship occurs after the initial delivery.
It is essential to continue building a relationship with your customers even after they have become a customer.
This will ensure that they are happy with their purchase and more likely to renew in the future. It can also help to build referrals and word-of-mouth marketing.
Do you consider yourself a strategic sales professional?