7,2.
On average, it takes more than 7 meetings to successfully complete a complex sale, with no fewer than 6 different stakeholders!*
But what exactly is a complex sale?
A so-called complex sale is characterized by two aspects:
- The complexity of the product or service offered, thus requiring a long sales cycle to clearly define the benefits of the product or service for the prospect.
- The complexity of the buying environment: a multitude of stakeholders, both internally and within the prospect's organization, all having a role to play in the purchasing decision. Complex sales is a real team sport!
But how do you assess your ability to win a complex sale?
How do you mobilize the different stakeholders to ensure the success of your sale?
Today, we are sharing our 3 keys to success.
*Source: Nomination 2021
KEY #1 - Identify the Components
What do a game of chess and a complex sale have in common?
In both cases, there are behavioral rules and tactics to win the game! Each move represents a cost and must produce the desired outcome.
This analogy to the game of chess is at the heart of our approach to complex sales, the Chessboard Method.
In the Chessboard Method, we compare the stakeholders in a complex sale to the pieces in a game of chess. Knight, Rook, Queen, King... they all have their own specific characteristics and roles to play!
Therefore, the first key to succeeding in complex sales is to clearly identify the role of each of your contacts and their position on the board.
This analysis work will allow you to:
- Know when and how to address each contact
- Leverage each element to successfully complete your sale
- Better anticipate and define the best action at each stage of the game
However, this account analysis exercise requires a precise methodology and tools.
Our complex sales training, based on the Chessboard Method, provides you with the methods to successfully approach your prospects.
Upon completion of this training, your sales representatives will be able to identify the various stakeholders in a decision and manage the stages of progress of their deals.
To learn more about the Chessboard Method, visit our dedicated page.
KEY #2 - Have allies
To win a complex sale, it is crucial to have one or more contacts interested in your service or product. This ally on the client's side will allow you to have access to factual data that will help you identify the issues and context.
Having allies during your sales is therefore a key success factor!
This requires identifying and understanding the dynamics of the players involved (based on behavioral and relational aspects).
At Kestio, we help you define a strategy (that's the overall plan) and adopt a tactic (that's adapting to the field, to the unexpected). To learn more, you can talk to one of our experts on complex sales.
KEY #3 - Balance the power dynamic
In the world of complex sales, it is essential to know how to balance the power dynamic to reach a mutually beneficial agreement. Like in a game of chess, the winner is not the one who is on the defensive, but the one who leads the game.
To establish a healthy and balanced power dynamic with your client, mastering your craft is crucial. You need to feel like you're bringing something important to the table to turn the tide and take control of the sale. If you don't master your craft, you risk being at the mercy of the situation.
It is important not to seek to dominate or be dominated in the seller/buyer relationship. The goal is for both parties to feel confident enough to exchange freely.
Assertiveness is key to balancing the business relationship with your prospect. It will allow you to clearly explain the importance of the exchange.
Two crucial tips
- It is important to have strong self-esteem and good self-assertion to strike a fair balance in the relationship with the client, without forcing or being aggressive.
- It is essential to have absolute certainty that your product or service provides strong added value to your customers.
How to operate to structure such an approach and converge everyone's efforts?
KESTIO provides an answer through a webinar drawing an analogy with the series 'The Queen's Gambit'. By combining behavioral rules and analysis methods to make the right decisions, you will be able to overcome all potential obstacles during your complex sales processes.
You can discover our dedicated webinar via the link below.
KEY #4: Expert advice
