Business-to-business (B2B) sales is more than selling a product or service. It involves a strategic approach that includes understanding the customer’s needs, differentiating your offering, and building trust. This strategic approach is often called the three-legged stool of sales: Resonate, Differentiate, and Substantiate.
Resonating with customers is the first step (leg) in the sales process. It involves answering the questions “Why should the customer act?” and “Why should they act now?” To resonate with customers, you must understand their goals and how your product or service can meet them. This requires careful listening, understanding, and empathy.
The second leg of the stool is differentiation. This answers the question, “Why choose us?” Differentiation is all about highlighting what makes your product or service unique from the competition. This could be anything from superior quality and innovative features to excellent customer service. It’s crucial to communicate this differentiation clearly and effectively to the customer.
The third leg of the stool is substantiation. This answers the question, “Why trust us?” Building trust is crucial in the sales process. You can build trust by providing proof of your claims. This can be a proof of value, demonstration, testimonials, case studies, or data and statistics supporting your claims. Being authentic, transparent, and empathetic in customer interactions is also important.
The three-legged stool of sales is a powerful framework that can guide your sales strategy. It can help you better understand your customers, differentiate your offering, and build trust, leading to increased sales and revenue.
However, effectively implementing this strategy requires understanding the sales process and adapting to different situations. For instance, if a salesperson loses a deal on price, it might be because they didn’t differentiate their offering effectively. If a customer doesn’t have it in the budget, it might be because the salesperson didn’t resonate with the customer’s needs and create a sense of urgency.
In conclusion, the three-legged stool of sales provides a strategic approach to selling that can help salespeople, sales managers, and CEOs increase their revenue and productivity. By resonating with customers, differentiating their offerings, and building trust, they can overcome objections, win more deals, and grow their businesses.
Here are three immediate actions a sales leader can undertake today:
- Practice Empathetic Listening: Begin by spending time with your customers, virtually or in person, to understand their needs truly and wants. Consider their challenges and how your product or service can provide a solution. Remember, your goal is to sell and create a meaningful connection with your customers.
- Identify Your Unique Selling Proposition (USP): Take a moment to review your product or service. What differentiates it from your competitors? This could be anything from superior quality, innovative features, and exceptional customer service. Once identified, make this USP a cornerstone of your sales pitch.
- Gather Proof of Your Claims: To build trust, you must provide proof of your claims. This may involve gathering testimonials, case studies, or data and statistics that support your product or service. Make these readily available for potential customers to see and review.
