Selling Approaches
A selling approach is can be defined as the tacts a salesperson uses to convince prospects to accept his/her offer (product or service). There are different selling/sales approaches a salesperson goes through.
Understanding the basic idea of different selling approaches helps salespeople to decide when to use one sales approach and when others. Able to differentiate and combine these approaches when needed further accelerate the rate of acceptance and sales closes.
Here are the 9 different selling approaches/theories.
Buying Formula
Buying formula approach of selling believes that customers/prospects purchase solutions. As a seller, you should first get answered what makes customers make their buy or not to by decision.
This approach emphasizes salespeople to help buyers find solutions to their problems. This theory/approach is developed by Late E.K. Strong, Jr., who presented it as – first need/problem identification, the solution to the problem, and at last purchase decision. Later, with the passage of time and popularity, it is extended and added a component satisfaction after purchase.
Behavioral Equation Approach
This approach of selling is developed on the basis of the stimulus-response model. It explains buying behavior as a learning process. According to J.A. Howard, four essential elements of the learning process included in the stimulus-response model are:
- Drive: is a strong internal stimulus that incites the buyer’s action.
- Cues: These stimuli are weaker than the drive that determines the time of buyers’ response.
- Response: this is what a buyer does in buying decision process.
- Reinforcement: It can be any factor that aids the buyer to make a particular response.
AIDAS Theory of Selling
One of the most popular selling approaches is AIDAS selling. It explains that the salesperson should first secure the attention of prospects, then gain their interest, create a desire to buy in them, make them obliged to take action (buying action) and make them satisfied.
This sales approach best works in certain events such as conducting selling interviews, making appointments, launching sales presentations, dramatizing sales, and product demonstrations.
Right Set of Circumstances Approach of Selling
This theory is based on handling a certain set of circumstances that will eventually lead to accepting the product to the customers. By this means, customers are also influenced by certain events, and when such events appear they are likely to respond more positively.
Salespeople have to know what in particular situations customers want to discuss the matter, what are their acceptable situations, etc. This sales approach has a psychological origin and came from experiments of animals like rats and dogs.
Consultative Selling
Consultative selling is one in which success relies on the development of a good relationship with customers. Here, salespeople first interact with customers, ask questions, understand their real need & desires, and presents their products.
Building a good relationship with them may take time, but when it is done they timely purchase the products since they are already convinced & have trust in salespeople, and it also increases sales in the coming days.
Need Satisfaction
This approach focuses on identifying individual buyers’ special needs/drives, which they are concerned about meeting and are unsure how to do so. These requirements range from one consumer to the next. Some people want functional pleasure, while others seek psychological fulfillment.
Internal and environmental stimuli elicit these desires. Some clients are price-sensitive, while others are quality-conscious. These distinctions have a significant impact on client needs. Thus, salespeople must try to explore the customer’s specific needs such as:
- Range of price (with discounts)
- Functional quality
- Psychological satisfaction
- Real attributes (model, weight, color, durability, etc.), and
- Single function or multifunction system.
Problem Solving
Need satisfaction approach paves a path for the problem-solving approach of selling. Without identifying customers’ needs, it is almost impossible to optimum satisfy them.
Here, the problem-solving approach begins with finding customers’ real problems and moving towards satisfying them through an effective sales presentation, explaining products benefits to them, and other benefits customers will get after purchase, and ultimately closing sales.
Team Selling
Team selling is when different salespeople are formed in a team in order to achieve common sales goals. Team selling is one of the effective selling approaches lived by sales firms.
Team members are with complementary selling skills tend to perform better than personal selling. It brings together appropriate people and resources needed to make effective sales calls and get more customer acceptance.
Customer Relationship-Based Selling
With global competition, selling has become very much challenging. Most of the sellers have started focusing on a customer relationship-based selling approach that works better than other means of communication, sales promotion schemes, etc.
This approach constitutes a long-term relationship with customers and helps develop loyal customers. Customers are also benefited from quality, time utility, place utility, and so on. Ultimately, it yields higher turnover. Its basic golden rule can be stated as – if no satisfied customers, no sale.