Solution Selling for SMBE Owners and Sales Managers

Solution selling has become the buzz word for both large and smaller businesses over the past few years. In this highly competitive marketplace, the more educated, driven buyers, and the information readable available via the internet are common drivers for solution selling approaches. In addition, the global supply sources provide a diverse product offering, and at times, lower labor cost than US based suppliers.

For a traditionally based approach used by many SMBE's, this will require some changes.

(Traditional is defined as a question based approach, followed by a presentation customized to answer the customer's concerns with the existing product lines/products provided by the vendor)

Solution selling means that the supplier must approach the prospect with a problem solving solution without the traditional question based process. They should convince the prospect that they are fully aware of their issues in the marketplace. The salesperson must become a reliable resource of unique solutions that answers questions and provide relief for the customer. Otherwise, the salesperson and their company are just another me too in the marketplace.  

Consequently, it will demand a deep knowledge of the prospect's concerns and constraints before approaching the potential client. This demand can be answered is several different ways. 

One approach would be to perform a deep level of research into the prospect's industry and the individual company as well. Association websites, the company's 10K report, their website and press releases will provide some insight into potential issues. Investigate business intelligence suppliers like Semrush, Grow.com or low budget providers like Manta.com or a list supplier such as Data Axle. 

Use your own business experience and walk a mile in their shoes. Are they having labor issues? Has an important raw material seen a significant price increase? Have they had an IT security breach that is threatening future business?

To use a sports analogy, look at what professional baseball teams do in a pennant race. They opt for free agents, make trades and bring in fresh prospects. You may want to consider hiring an experienced sales professional with a deep background in your prospect's category. 

Make certain that your team has a mastery of the key components of your business. 

Ensure they know:

• Your product offering in depth
• Understand the capabilities of your company and have the power to employ them
• Your position of power and leverage in your industry
• Their own skill set, their strengths and weaknesses
• As stated previously, they must know the issues the customer is having before they approach the prospect

Solution based selling says your team has earned the right to approach your prospects with confidence because they are a subject matter expert with the power to employ the best resources that will solve the customer's issues. 

Remember your economic and sales basics. Management philosophy says you should minimize expenses and maximize profits. People buy services to solve problems and drive waste and expense out of their systems. Companies hire outside expertise to minimize potential losses and capitalize on unseen opportunities.

Make no mistake, this approach will be a significant change for those sales professionals who have been in the marketplace for decades. The level of knowledge required will go far beyond the product and employer knowledge that made them a winner in the past. They must actively pursue a knowledge of the current business constraints and how to explain how their solutions solve problems for their prospects.

Which begs an answer to the question. What product or service offering do you have the capability of delivering that will place you in the lead as a solution sales expert?

Gary D. Seale - Principal

The Trucon Consulting Group, LLC

512-529-7045  www.truconbd.com