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Commodity Sales
Objective: Manipulating buyers to buy my stuff right now.
Simple, one size fits all items
Perceived as commodity
Very short sales cycle with one or two contacts
One or two decision-makers
Low risk
Every prospect must buy something... whatever it takes
Sellers are perceived as fungible vendors
Traditional sales techniques (Create the pain -> make it hurt -> overcome objections -> Close, close, close)
Price quote and comparison: "Can we have it for less?" "Is this your best price?"
Buying decisions are based on price
Salesperson's activity break-down
- 5% Qualifying prospect
- 15% Discovering needs
- 35% Presenting solution to fill needs
- 45% Overcoming objections and close, close, close
Outcome: Unstable, superior-subordinate transactional relationship between sceptical buyers and fungible vendors.
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Premium Sales
Objective: Discovering whether or not it makes sense for the buyer to change, and to change with me.
Complex, customised services
Perceived as premium
Long(ish) sales cycle with multiple contacts
Multiple decision-makers
High risk
Prospects select/deselect themselves to buy
Sellers are perceived as fiduciary advisors
Trust- and value-based integrated business development process.
Collaborative diagnosis, solution design and establishment of value and expected ROI
Buying decisions are based on fit and ROI
Salesperson's activity break-down
- 10% Jointly discovering fit for collaboration
- 40% Jointly diagnosing the buyer's current situation
- 35% Jointly designing solution
- 15% Jointly delivering solution
Outcome: Trust and respect based stable peer-level relationship between buyer and seller.
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