How to start “Insight Selling” ?

Consider you got a call from a sales person.

Hi Sir !!! I am calling from a company ABC and do you have plans of buying a TV ? It’s a 50” TVs, on which you can play YouTube, browser internet, check emails and we will give you a 20% discount.

After sometime you got another call from some other sales person

Hi Jai, I noticed that  recently you went to see your favorite movie, but you missed it because of traffic.  How about creating a theater like experience  for you at your home and that too without compromising on your holiday plan.  All I need is 10 mins to discuss to tell you how.  Would you be available in the evening ?

Which one you think has more chances of a positive out come? Which type of seller are you ?

A lot has been changed in Sales because of internet and technology advancement. There has been 3 types of Selling techniques :

1. Alligator Selling : Selling happens based on features and quite honestly how loud you can shout in a market place. 

This is an old style selling technique only because it’s difficult to achieve competitive differentiation. Competitors can easily come up with the same features and quite honestly in no time they will bring something better than you.

2. Solution Selling: Selling happens because of your understanding of customer’s issue.

That’s what’s happening right now. But this selling technique is becoming archaic because there are lot many who are doing this. To understand customer’s issues sellers ask open-ended questions and trust me there are many who are asking lot of questions to the prospects. They have got irritated with them because they themselves can find the answers online and they don’t have time to be questioned by many.

3. Insight Selling :  Selling happens because of your intelligence.

As I said, there are lot many who are asking questions to the prospects to an extent that they just don’t want to give time. To be heard you need to say something which is useful

Insight selling is based on 4 factors and how well you understand them.  And to excel in these you need 4 qualities: persistence, knowledge, patience and building your own brand.

Industry

What you need to know ?

Focus on how the industry is changing, where is it  heading and what are the influencing factors ?

How can you do this ?

The best way is to create a list of few players from that industry. Then try to connect with them on LinkedIn.  Also, if you have Sales Navigator save those accounts to get regular feeds from them.  You should also think of finding a mentor from that industry if possible.

Technology

What you need to know ?

If you are a seller, you still need to be technical and have good understanding of the technology. I went to a TV store and asked the person what’s the difference between a Smart TV and  an Internet TV. Similarly if you  are in IT let’s say you are handling a Blockchain consulting services, you must understand Blockchain. You ofcourse don’t have to be a programmer.

How you can do that ?

Just develop the curiosity. You can find plenty of resources around. You can use Udemy, Udacity, other MOOCs, or you can get a book, magazine etc. The only thing you need is a curiosity of how things work.

Competition

What you need to know

Your understanding of your competitor’s offerings should be as good as yours. Customers do a lot of research online and they are already 70% ahead in their buying journey. You can’t fool them.

How should you do it ?

If there are certifications available, do it. If possible consume their offerings too. Don’t ignore the people who are already using your competitors’ offering.

Buyer

What you need to know ?

The more you know them, then better it is.  You should atleast know about their past experience, their job profile, their education and their personality.

How should you do it ?

Connect with them on LinkedIn.  Try to find a reference.  Follow them on Twitter and yes, if they don’t have an immediate requirement, just be updated with what they are sharing and keep the interaction going on.

LinkedIn
Facebook
Facebook
Email me
Google+
Google+
http://www.nilayshrivastava.com/how-to-start-insight-selling/
Twitter
Visit Us
SHARE
YouTube
YouTube

Leave a Reply

Your email address will not be published. Required fields are marked *