The 15 Best Sales Methodologies

And we are back with another issue of the Founder's Sales Circus and this week we will be discussing - Sales Methodologies...Yes, again...And I'll share one tool that will help you adopt Sales Methodologies, track if the team is following it and help them improve. (*cough* Vespio.ai )

Step right up, because we're diving into the world of Sales Methodologies and learn what are they, which one should you use and are they actually for your organization.

Now, we all know William Shakespeare as the literary heavyweight of his time. I mean, when you put out dramatic masterpieces like how Charlie Sheen, Johnny Depp and Kevin Dillon party combined together, you've earned your stripes.

Enter one of his classics, "Hamlet." In the midst of all that royal drama, Lord Polonius drops a gem: "Though this be madness, yet there is method in it." And that's our cue for today's discussion.

Here's the deal: Whether you're selling widgets or wooing clients, if you don't have a solid plan—a method to your madness—you're heading for trouble faster than you can say "to be or not to be."

So, what's on the agenda? We're breaking down 15 popular sales methodologies, dissecting each one to help you find your sales team's perfect match. Or should I say, the perfect mix? Because let's face it, we're all about creating a custom blend here.

So buckle up, because by the time we're done, you'll have the sales playbook of your dreams. Let the games begin!

Alright, let's tackle the why behind embracing a sales methodology with gusto.

Think of a sales methodology as your team's trusty roadmap through the wilds of the sales process. It's like having a seasoned guide whispering sage advice in your ear as you navigate the twists and turns of sealing the deal.

Now, here's the kicker: There's no one-size-fits-all solution here. What works wonders for one business might fall flat for another. It's all about finding that sweet spot—the perfect blend of methods that syncs up with your company vibe, your sales squad, and your prized customers. Sure, it might take a bit of mixing and matching, but trust me, the payoff is oh-so-sweet.

Once your team's got its groove with a tailored sales methodology, get ready for the magic to happen. Lead qualification becomes a breeze, close rates shoot through the roof, and suddenly, scaling your sales process feels like a walk in the park.

15 Sales Methodologies You Can Use to Close More Deals

So, what's your gig? Are you the sales manager at a fancy SaaS startup? The VP of Sales at a well-known enterprise? It doesn't matter. One of the 15 sales methodologies below will help you and your team close more deals, drive more revenue, and achieve more success.

Alright, let's dive into the exciting world of sales methodologies—because who doesn't love closing deals like a pro?

Whether you're the sales maestro at a hip SaaS startup or the top dog at a big-name enterprise, there's something here for you. We've got 15 game-changing sales methodologies lined up, ready to help you and your team rake in the wins, boost that revenue, and hit those success milestones.

1️⃣Consultative Sales: First up, let's talk consultative selling. Picture this: you're not just a sales rep, you're a trusted advisor. Instead of pushing products like a used car salesman, you're asking the right questions, listening intently, and recommending solutions tailored to your prospect's needs. It's all about building that partnership, earning trust, and sealing the deal. Sure, it might be a bit trickier for newbies, and you might have to walk away from some deals—but hey, that's the price of putting your customer first.

2️⃣Solution Selling: Now, flip the script with solution selling. Say goodbye to quick transactions and hello to long-term relationships. Instead of just pushing your product, you're diving deep into your prospect's needs, becoming their go-to problem solver. It's all about offering custom solutions, focusing on benefits over features, and yes, sometimes extending that sales cycle for the greater good.

3️⃣Customer-Centric Selling: Let's talk about putting the customer in the spotlight with customer-centric selling. It's pretty straightforward: instead of pushing products or sticking to a rigid sales script, reps put the customer's needs front and center.

Picture this: sales reps morph into advisors, tailoring their approach to fit each prospect like a glove. It's all about making sure the customer feels heard, understood, and ultimately, served with the perfect solution. Sure, it's not the easiest methodology to master, but when done right, it's a win-win situation. Customers get what they need, and reps score more sales with satisfied clients coming back for more.

4️⃣MEDDIC, NEAT, and BANT Qualification Frameworks: Now, let's get down to the nitty-gritty of lead qualification with three powerhouse frameworks: MEDDIC, NEAT, and BANT.

- MEDDIC First up, we've got MEDDIC—a heavyweight in the world of sales methodologies, especially for organizations peddling complex products or services.

This acronym is your roadmap through the qualification jungle, covering Metrics, Economic buyer, Decision criteria, Decision process, Identify pain, and Champion. Each step guides reps through the intricate dance of lead qualification, ensuring no stone is left unturned. It's like having a sales GPS—you'll never feel lost again.

- BANT Next on the list is BANT, a tried-and-true method for quick and dirty lead qualification.

Budget, Authority, Need, and Timeline—these are the magic words that help reps separate the wheat from the chaff. With BANT, it's all about ticking off the boxes: Can they afford it? Who's calling the shots? Do they actually need what you're selling? And how soon can we make this happen? It's simple, effective, and gets the job done in record time.

- NEAT Last but not least, we've got NEAT—a fresh take on qualification that flips the script on traditional methods.

Need, Economic impact, Access to authority, and Timeline—these four pillars form the foundation of NEAT. It's all about focusing on the prospect's needs first and foremost. By zeroing in on what the customer truly wants and needs, reps can tailor their approach for maximum impact. It's like having a laser-guided missile—precision targeting at its finest.

Let's spice things up with a dash of cheekiness as we explore the next sales methodologies on our list.

5️⃣SPIN Selling: Ever heard of SPIN Selling? It's like the rockstar of sales methodologies, brought to you by the one and only Neil Rackham in his bestselling book. This bad boy helps sales reps get inside their prospect's head, diagnose their problems, and whip up solutions that hit the bullseye.

And here's the secret sauce: SPIN stands for Situation, Problem, Implication, Need-payoff. Clever, right? It's all about asking the right questions at the right time. So, next time you're pitching Close, throw in a few zingers like, "How's your sales pipeline tracking going?" or "Ever wonder if your reps are slacking off behind your back?" Trust me, it's a game-changer.

Still not convinced? Just ask Andrew Cussens, the mastermind behind FilmFolk, who swears by SPIN selling: "It's been my saving grace during the COVID craziness. Thanks to SPIN, my conversion rates have skyrocketed!"

6️⃣Hunter-Farmer Sales Model: Now, let's talk about the Hunter-Farmer Sales Model—a classic tale of two teams.

Picture this: you've got your hunters, prowling the wilds of the market, sniffing out new leads, and bringing home the bacon. Then there are your farmers, tending to your existing customers like prized crops, nurturing those relationships for juicy upsell opportunities.

But here's the kicker: to make this duo dance work, you've gotta play matchmaker. Pair your reps with the roles they were born to play, and watch the magic unfold. Hunters hunt, farmers farm—it's as simple as that.

Let's jazz up our sales game with a couple more methodologies that'll have you selling like a boss.

7️⃣The Challenger Sale: Alright, buckle up because we're diving into "The Challenger Sale"—a game-changer brought to you by Matthew Dixon and Brent Adamson. These guys wrote the book on shaking up the sales game, quite literally.

Here's the scoop: Instead of just regurgitating the same old spiel, challenger sales reps bring something new to the table—valuable info that'll make their prospects' heads spin. The goal? To knock those status quo blinders right off and get folks thinking outside the box they've built around themselves.

Now, here's the twist: While challenger sales can be a total game-changer, there's a fine line between being assertive and scaring off your leads faster than you can say "sales pitch." So, proceed with caution, my friends.

8️⃣Inbound Selling: Next up, we've got inbound selling—a little something for the savvy marketers out there.

Picture this: instead of chasing after leads like a hungry dog, you're drawing them in with irresistible content like SEO-optimized blogs, juicy ebooks, and must-see webinars. It's like setting up a gourmet buffet and watching the hungry masses flock to you.

But here's the best part: with inbound selling, there's none of that sleazy salesman vibe. Prospects come knocking because they want to, not because you've cornered them in a dark alley. It's all about building trust, one quality piece of content at a time.

9️⃣Outbound Sales: Alright, let's talk about outbound sales—the OG of sales strategies.

Picture this: instead of waiting around for leads to come to you, outbound sales reps take the bull by the horns and reach out to potential customers directly. It's like being the cool kid who makes the first move at the school dance.

Now, there are a ton of ways to rock an outbound sales strategy. We're talking sales calls, cold emails—heck, maybe even carrier pigeons if that's your thing. But here's the kicker: when done right, outbound sales can be a total game-changer. You get to target specific folks, tweak your approach on the fly, and speed up that sales cycle like nobody's business.

But, let's be real—it's not all sunshine and rainbows. Outbound sales can be pricey, and let's face it, nobody likes getting hit with a cold call when they're knee-deep in their morning coffee. So, tread carefully, my friends.

1️⃣0️⃣SNAP Selling: Up next, we've got SNAP Selling—a snappy little number from the one and only Jill Konrath.

Here's the deal: Your customers are busy, frazzled, and ain't got time for long, drawn-out sales pitches. They want answers, and they want 'em fast. Enter SNAP selling, the superhero of sales methodologies.

SNAP stands for Simple, Invaluable, Align, and Priority. It's all about keeping it short, sweet, and to the point. So, ditch the fluff and focus on what really matters. Be their go-to expert, make sure you're on the same page, and zero in on what they really care about.

If your target market's feeling overwhelmed, SNAP selling might just be the ticket to winning them over. After all, ain't nobody got time for sales pitches that drag on longer than a Netflix binge.

1️⃣1️⃣Target Account Selling (TAS): Last but not least, we've got TAS—a heavyweight in the world of B2B sales.

Think of it like having a laser-guided missile for your sales strategy. With TAS, you're not just casting a wide net and hoping for the best. Nope, you're honing in on those quality prospects with surgical precision.

Sure, it might take a bit more legwork upfront, but trust me, it's worth it. Higher close rates, personalized buying experiences—what's not to love? Just be prepared to roll up your sleeves and put in the work, because when it comes to TAS, the devil's in the details.

1️⃣2️⃣Value Selling: Alright, picture this: You're shopping for a new software tool. One sales rep tells you their product will "save your company money." Another tells you it'll save you a cool $10,000 a year. Which one catches your attention?

That's the power of value selling in a nutshell. Instead of just pitching products, sales reps focus on the cold, hard value their solutions bring to the table. It's like putting a dollar sign on your problems and showing how much you'll save by swiping that credit card.

Value selling's a big hit in the world of SaaS, but it's got legs in other industries too. Just make sure your lead qualification game's on point—you don't want to be pitching big savings to someone who's still in window-shopping mode.

Psst... Need some help nailing those conversions? Check out our guide on MQL vs. SQL for all the juicy details.

1️⃣3️⃣Insight Selling: Now, let's talk insight selling—a little something for the brainiacs out there.

Here's the deal: Instead of just regurgitating the same old sales spiel, insight sellers see themselves as educators. They take all that mind-boggling info floating around online and break it down into bite-sized pieces for their prospects. The result? Empowered customers who know exactly what they're buying and why.

So where do these nuggets of wisdom come from? Mostly from years of sales conversations and industry know-how. That's why insight selling's best suited for seasoned pros who can talk shop with the best of 'em.

If your team's got the chops to simplify complex problems and offer straightforward solutions, insight selling might just be your ticket to sales success.

1️⃣4️⃣Sandler Selling System: Cast your mind back to 1967, when David Sandler introduced the world to the Sandler Sales Methodology. Fast forward to today, and guess what? It's still kicking butt.

Here's the lowdown: The Sandler approach isn't about pushing products—it's about meeting your customer's needs like a champ. Sales reps using this method don't just make sales; they build legit relationships with their prospects.

So, how does it work? Think of it as a seven-step dance:

1. Build rapport

2. Establish roles

3. Understand needs

4. Talk budget

5. Learn the buying process

6. Propose a solution

7. Seal the deal

Nail these steps, and your reps will be swimming in sales—and commission checks—before you know it.

1️⃣5️⃣Conceptual Selling: Last but not least, we've got conceptual selling—a game-changer brought to you by Robert Miller and Stephen Heiman.

Here's the scoop: Customers aren't just buying products; they're buying solutions. And it's the sales rep's job to help them see that. Cue conceptual selling.

The key? Asking the right questions. Think confirmation questions, new information questions, attitude questions—you name it. It's all about understanding your prospect's needs and showing them how your product/service fits the bill.

At the end of the day, conceptual selling isn't just about making a sale; it's about making sure everyone walks away happy. So get ready to wow your prospects and rack up those repeat sales like a boss.

How to Build Your Own Sales Methodology

Let's talk about crafting your very own sales methodology—one that's tailor-made for your team and guaranteed to skyrocket your success. Here's the lowdown:

Know Your Ideal Customer Profile: First things first, you've got to know your customers like the back of your hand. Dive deep into understanding their wants, needs, and pain points. Build detailed buyer personas that'll guide your sales efforts and help you connect with quality leads from the get-go.

Clearly Define Your Sales Process: Got your ideal customers mapped out? Great! Now it's time to lay down your sales process. Think of it like a roadmap for guiding prospects through their buyer's journey. Once you've got this down, you'll be ready to marry it with your chosen sales methodology.

Combine Your Favorite Sales Methods: Now comes the fun part—mixing and matching your favorite sales methodologies to create a powerhouse approach that's uniquely yours. Whether you're vibing with NEAT, SNAP, or inbound sales, blend 'em together to cook up something truly special.

Get Feedback from Your Sales Team: Your team's the heartbeat of your sales operation, so make sure you're listening to their thoughts and ideas. Gather feedback on your new methodology and tweak it until it's firing on all cylinders. And don't forget to keep an eye on the numbers to see if you're hitting those KPIs.

Aim for Simplicity: Last but not least, keep it simple, silly! Your sales methodology should be easy to understand and even easier to execute. The last thing you want is a convoluted system that leaves your reps scratching their heads.

Follow these tips, and you'll be well on your way to crafting a killer sales methodology that'll have your team closing deals like never before.

One great tool to help you streamline all this - introduce a sales methodlogy, track if the team is actually following it, analyse if this is the right methodology for your organization and train sales reps to catch up with any given methodology is - Vespio.ai

If you made it until the end, congrats, this was a long one but I hope it helped you to understand better what are Sales Methodologies and how could they help your organization.

See you next week!