Finding the correct sales model for your business is a challenging task. The Challenger Sales Model can increase profits and gain market share, while reducing turnover and training costs.
In this article, I will explain why the Challenger Sales Model works for several types of businesses.
What is the Challenger Sales Model?
Challenger Sales Model is a well-established sales model that aims to develop long-lasting relationships between buyers and sellers regardless of whether or not the product is an actual product sale.
Unlike traditional sales models, Challenger Sales Model focuses on building strong relationships with clients which enable the client to overcome their objections themselves rather than be coaxed into just making a purchase which in the long run, will be unsatisfactory.
How it differs from traditional sales methods
Traditional sales methods focus on close-ended questions to ask potential clients or those who would be interested in buying a product and encourage prospects to divulge information and provide their contact details, which allows the seller to call them at a designated time.
This method alone has been proven ineffective, as certain prospective customers do not wish to give their contact details nor give in to the persuasions of a potential seller. Traditional sales methods can be seen in telemarketing campaigns where the client tries to coax leads into buying certain products they don’t really need or want.
Challenger Sales Model, in contrast, is more interactive and instead of pulling out information through explicit questions like traditional sales models, it involves the client in the process. Which will slowly lead the client into buying the right product.
Why is using the challenger sales model effective?
Using Challenger Sales Model makes for a more interactive relationship between seller and buyer where instead of being sold to prospects are included in finding the perfect match.
Challenger Sales Model also helps maximize sales as it’s proven that customers who feel like they had a hand in choosing what product to buy tend to be more satisfied with their purchase.
By involving the client in choosing what they want, Challenger Sales Model allows customers to buy products that are more likely to match their lifestyles and needs. Customers feel like they have a say in the matter, which reduces buyer’s remorse as it is unlikely for them to return merchandise.
Challenger Sales Model also serves as an effective tool for marketing and PR departments. It involves the client in the process of finding out more about their options, which makes them feel like they had some input on how things turn out. This allows for a greater chance at building relationships with potential buyers.
Tips for implementing the Challenger Sales Model in your own business
Make a shift from traditional sales methods to the Challenger Sales Model to gain a competitive advantage.
Ensure that you have a complete understanding of your target market and have identified what problems they face that would be solved by buying your products or services.
Build long-lasting relationships with prospects through studies, surveys and interviews. By finding out as much information as possible, you will get a better sense of what your target market wants and needs.
Remember to keep in mind the different ways your target market prefers to communicate.
If you learn more about how they like to be communicated with, then you’ll have a greater chance of succeeding with the Challenger Sales Model.
Keep in mind that the Challenger Sales Model may not be for every business. While some businesses may benefit from using the model, there are still others who prefer traditional sales models, as they feel they will have more control over the process.
Lastly, make sure you are equipped with the adequate resources to do your research thoroughly and effectively before attempting the Challenger Sales Model.
Challenger Sales Model works effectively as a method to bring customers and businesses together because of its emphasis on finding the perfect match between them.
It’s unique from traditional sales models as it involves customers more in choosing products they want instead of being sold to, which makes for a more satisfied customer with reduced buyer’s remorse.
This model also helps maximize sales, as it’s proven that customers who feel like they had a hand in choosing what to buy are more satisfied, and are more likely to return.