In today's business landscape, the approach to selling has undergone a significant shift. The traditional tactic of pushing products and services onto potential clients is no longer enough to achieve success. Instead, a more personalized, consultative approach that focuses on relationship-building and problem-solving is key to modern selling. In a recent conversation with Mihir Ghandat of The Good Glamm Group, we delved into the various aspects of modern selling, including the importance of active listening, balancing revenue goals with client outcomes, the use of technology in formal training, and motivating and rewarding your team for growth. One of the most determining factors that emerged through the conversation was adapting to this shift and succeeding in the market.
The Shift in Modern Selling: Relationship Building
One major change in modern selling today is the shift towards more personalized and tailored plans for each brand. This means that there is no longer a one size fits all approach when it comes to selling products. To succeed in consultative selling, it is crucial to focus on relationship building with clients. This means establishing trust, developing strong and long-term relations, and demonstrating that you have the brand's best interests in mind.
Moreover, with the shift in modern selling, the traditional one-size-fits-all approach no longer applies. Consultative selling is becoming more popular, emphasizing relationship building, active listening, and problem-solving skills. It is important to truly understand what clients are saying by asking clarifying questions and giving examples to confirm and demonstrate their needs. Building strong and trustworthy relationships with clients is also vital to the sales process. Ultimately, it is critical to provide clients with creative and effective solutions to their problems. This combines solid knowledge of the product with an understanding of the client's needs and challenges.
Metrics That Matter: Revenue and Impact
When it comes to sales or business development, the North Star metric is always revenue. This means that the ultimate goal is to increase revenue by upselling, cross-selling, and retaining clients month on month. However, it is also important to consider the impact of the sale on the client. A successful sale is not just about revenue, but also about achieving positive outcomes for clients and building long-term relationships. By balancing revenue goals with a focus on client needs and outcomes, modern selling can shift towards a more consultative and relationship-driven approach.
Equipping Sales Teams with the Right Skills
Equipping sales teams with critical power skills has become essential to succeed in the ever-changing sales landscape. As modern selling is shifting toward agile processes and transparency, it's becoming more authentic and engaging. The focus has shifted to more client-oriented methods to understand their needs and provide them with relevant and efficient solutions.
When it comes to sales, relationship building is crucial. As a team leader, it's important to ensure that your team is doing their job correctly and delivering the right results. However, this mainly depends on multiple factors such as company size, industry, and stage of the company. For instance, bigger companies tend to be more structured with set playbooks while lean and young companies are more agile and require equipping their employees with the right skill sets.
To make sure that you hire the right person for the job, it's essential to gauge their skills during the interview process. Asking them to solve case studies that involve problem-solving is a great way to understand their thought process. This helps you to see how they tailor their answers, which is an important metric when it comes to pitching to clients. Additionally, ensuring that your team is continuously learning and up to date with the latest trends and technologies can be challenging. However, regular communication and a workplace with a flat structure that promotes open dialogue can help bridge this gap.
Technology: A Game-Changer in Training
Technology has drastically changed the way we approach training and upskilling in the workplace. With the ability to implement any form of structured training through technology, the possibilities are endless. It has revolutionized the way we approach formal training for teams. With the adoption of digital tools, we can implement any form of structured training to elevate team performance. COVID-19 was a wake-up call that showed us the benefits of digital adoption. It served as the perfect example of how digital adoption is imperative for businesses to survive. As an employer, it is vital to understand the technological interventions that hold true and how they can benefit our team's performance.
Mihir stated, “With the advancement of technology, learning and equipping teams seem to be more accessible. However, learning on the job is still the primary method that we use to equip our sales teams. While technology can play a crucial role in upskilling employees, it's essential to be mindful of their current state of mind. Their fears, struggles, and motivation levels can affect their ability to learn and perform their job correctly. As a team leader, regular conversations and open dialogue can be key to building a healthy team environment that promotes trust and communication.”
Companies need to understand the true potential of technology in elevating their teams’ performance. By leveraging technology, they can identify the gaps in skills and knowledge and implement training programs to bridge those gaps. This is a win-win situation for both employers and employees as it leads to better performance, productivity, and job satisfaction. But, the question remains, how do we ensure technology is adopted?
Till date, incentives still hold significant relevance in motivating employees to perform better. However, organizations must play to each individual's strengths and envision a role to help them grow. Celebrating significant wins and giving credit where it's due builds a positive workplace. In typical sales structure, linking payout to incentives adds a solid motivation for salespeople to excel in their career. However, moving forward, when it comes to developing customer-facing teams, technology will play a huge role in this as natural evolution. That is the only way organizations can unlock efficiency in the least amount of time.
In conclusion, equipping sales teams with the right skills and mindset is critical to achieving success in sales. Understanding the context of your company, gauging skills of employees, and ensuring continuous learning can help companies build successful sales teams. Moreover, leveraging technology to support team growth is essential, but it's crucial to remember that open communication and trust-building is key to a healthy team environment.
