Solution selling is one of the best strategies to grow your business. Although it’s an old concept, it’s still relevant in today’s business world. It involves diagnosing your prospects and recommending the best products or services for them. In this article, you will learn how to grow your business with solution selling.
Most times, your prospects may not even know that they have a challenge or a need.
But it’s your job to help them understand their situation and take the necessary action to improve it. That is why your customers will always see you as an important resource when you approach them through solution selling.
Solution selling is one of the best ways you can become more empathetic as a salesperson. But it requires you to think outside the box and understand your prospect’s situation.
As a solution seller, you need to have a deep knowledge of your potential client’s industry, current challenges, competitors that have experienced similar challenges, and how you can proffer a solution to the problem.
So, here are some tips on how to grow your business with solution selling;
#1. Identify Common Pain Points
One of the tips on how to grow your business with solution selling is to identify the common pain points in your target market.
Identifying your prospect’s pain points helps you target the right clients and proffer the solution effectively.
Here are some tips to help you identify some of the common pain points in your industry;
- Talk to your customer service to know some of the common challenges your customers face.
- Read your target audience’s reviews about similar products or services.
- Ask your prospects intriguing questions.
- Conduct qualitative market research.
- Get your sales team to tell you about customers’ feedback about your product or services.
- Study your competitor to identify some of the things they are doing wrong.
#2. Develop Your Questions
Once you identify your prospects’ pain points, the next step is to develop the right questions. Take a look at the different challenges your prospects face, and figure out the specific ones your products can solve.
Now that you know the specific challenges your product or service can solve for your prospects, the next step is to develop the right questions around these challenges. It’s one of the ways to grow your business with solution selling.
Ensure that every question you ask centers around the buyers and their current situation.
It gives them the impression that you genuinely care about whatever they are going through. And you are ready to help them proffer a solution.
#3. Don’t Just Sell Your Product, Sell the Value It Offers
Selling your products’ value is one of the ways to grow your business with solution selling.
Solution selling is effective because it focuses on how your product will proffer solutions to your prospects’ challenges.
Regardless of your role in the organization, it’s important to understand and demonstrate your product’s value.
And to better understand your product’s value, you need to answer the following questions;
- Does your product make life easier for people? What problem is it solving?
- Can your product save your prospect time? How much time? And what can they achieve within this timeframe?
- How can your product impact your prospect’s bottom line?
Asking yourself these questions will help you to understand your product value. It helps you position the product better in your buyer’s mind.
Solution Selling Questions
It’s easy to grow your business with solution selling when you ask the right questions. And this is where most salespeople get it all wrong.
If you don’t ask the right questions, you can’t accurately diagnose your buyer’s pain points. This could prevent you from proffering the right solution.
However, if you develop your questions around the following goals, you can accurately diagnose your prospects.
Identify the Causes
Identifying your buyer’s pain point is not enough to diagnose them. You need to identify the factors responsible for the prospects’ pains, what triggers them, and any other factors that could help you have a deeper understanding of their challenges.
Calculate the Magnitude
Evaluate the pains or challenges to determine how it’s affecting your buyers, their team, and the entire organization. And also, check how many people will benefit from solving the problem.
At this stage, you have to gauge the buyer’s interest and see if they will possibly be interested in the solution you are offering.
When you have these three goals in mind when diagnosing your prospects, the conversation will be natural, and you can ask the right questions to uncover your prospects’ needs.
Now that you understand how to grow your business with solution selling, what are the benefits of using a solution selling approach?
In a competitive industry, where every brand has something unique to offer, solution selling is one of the best ways to be outstanding.
It allows you to combine expertise, empathy, and knowledge to close your deals.
Here are some of the benefits of solution selling strategy;
- In solution selling, you don’t talk about the numbers or features of your product; you ask the right questions to uncover your prospects’ needs.
- It helps you to understand and demonstrate the value of your product.
- It differentiates your brand from other competing brands.
- Solution selling helps you build a deeper connection.
- It helps you make more revenue and future-proof your dealership.
These are some of the tips to grow your business with solution selling. Solution selling can help you close more deals and get more loyal customers if you are strategic about it.