The concept of modern sales, as we understand it today, has evolved, shaped by various factors. Some of them, we were able to predict, while others came up as a surprise. The key to sales—regardless of when in history—is to always adapt to the flow and make it work for you. However, as consumer expectations and technology evolve and competition intensifies, old-school methods have started to falter. We’re watching a new era at its peak, and only the best sales techniques can take you to the top.
Capital Placement Global Partnership Associate Yash Dave shares deeper insights into how sales has changed and what to expect in the modern arena.
The evolution of sales
Fundamentally, sales have always been about connecting buyers with sellers to exchange goods or services for money. However, the way this exchange happens has changed significantly over the years. Back in the day, sales was often about door-to-door pitches, cold calling, and aggressive tactics.
It was all about convincing customers to buy what you had to offer, whether they really needed it or not. This traditional approach to sales was largely one-size-fits-all, with little emphasis on understanding the individual needs and preferences of customers.
Then, things started to change when technology entered the scene, bringing with it a whole new set of tools and opportunities. Sales teams now have access to vast amounts of data about their customers, allowing them to personalise their approach and deliver targeted messages and offers
Suddenly, we had databases, email marketing, social media platforms, and sophisticated customer relationship management (CRM) systems at our disposal.
At the same time, consumer behaviour was shifting. People became more empowered (again, thanks to the internet). The rise of e-commerce platforms has led to a greater emphasis on providing seamless omnichannel experiences, where customers can interact with a brand across multiple online and offline touchpoints. Additionally, they could now research products, read reviews, and compare prices—all without ever talking to a salesperson.
This meant that the old, pushy sales tactics just didn’t cut it anymore but not all news is bad news.
How did sales reps adapt?
As consumer expectations evolved and competition intensified, sales professionals began to realise the importance of building relationships with customers and providing value beyond the transaction. This shift gave rise to concepts such as consultative selling, where salespeople act as trusted advisors, guiding customers through the buying process and offering solutions tailored to their specific needs.
And thus began the era of modern sales—it’s all about putting the customer at the centre of everything we do. Instead of bombarding them with sales pitches, we focus on understanding their needs, pains, and desires. We aim to build genuine relationships and provide value at every touchpoint.
Now, this doesn’t mean that sales has become any easier. In fact, it’s become more complex than ever before but with the right mindset and approach, you can thrive in this new landscape.
What specific changes have we seen?
Firstly, in recent years, there has been this big move towards using data and analytics to drive sales strategies. With all these fancy CRM systems, sales teams can now track and analyse every little interaction customers have with their brands. This helps them figure out who’s interested, how they’re buying, and what’s working best in their sales process.
Following this, there was a major shift in mindset from selling products to serving customers. Instead of just pushing products and services onto people, sales pros are now all about understanding what customers really need. You are now required to invest in building those solid relationships by getting to know their pain points, preferences, and priorities.
Additionally, sales teams these days have a ton of digital tools at their disposal, from virtual meetings to AI-powered chatbots. These tools help them reach more people, gather insights, and ultimately sell smarter. (This also means that to be effective in this field, you’ll need to familiarise yourself with the tools at hand.)
Platforms like LinkedIn and Twitter have become gold mines for sales opportunities. Sales folks are using social media to connect with prospects, share helpful content, and build credibility in their field.
Over the recent years, sales teams had to figure out how to sell without meeting people face-to-face—particularly during the lockdowns of 2020. Virtual selling through video calls and webinars became a norm—and is thriving today. It has opened up a whole new world of opportunities for reaching customers far and wide.
Lastly, there’s sales enablement, which emphasises arming sales teams with the right tools and training them to do their jobs well. Companies provide everything from upskilling courses to useful tools, and anything else that helps you be effective at sales.
Best sales techniques fundamentals
Now that we’ve laid down the foundation, let’s move on to some essential sales techniques that can elevate your game and get you that full-time role.
In today’s atmosphere, it’s important to remember that customers expect personalised experiences tailored to their unique needs and preferences. With the help of data analytics and automation tools, sales professionals can deliver customised solutions at scale. By leveraging customer data to understand behaviour patterns and preferences, we can craft targeted messaging and offers that resonate with individual prospects, increasing engagement and conversion rates.
One size does not fit all
There is no one approach to rule them all, I’m afraid. In a diverse world like ours, it’s impossible to find a single solution that would satisfy everyone. Instead, take the time to understand the unique needs, challenges, and preferences of each customer. By tailoring your approach to address their specific pain points and goals, you can demonstrate empathy and relevance, ultimately increasing your chances of success.
Focus on value
Gone are the days of pitching product features and specifications. Today, successful sales professionals focus on articulating the value their solutions bring to the table. Value-based selling involves quantifying the benefits of your product or service in terms of cost savings, revenue growth, or other key metrics relevant to the customer’s success. By aligning your value proposition with the customer’s strategic objectives, you can demonstrate a clear return on investment and differentiate yourself from the competition.
Be flexible
The sales landscape is constantly evolving, driven by changes in technology, consumer behaviour, and market dynamics. To stay ahead of the curve, commit to lifelong learning. Stay updated on industry trends, emerging technologies, and best practices in sales methodology. By continuously refining your skills and strategies, you can adapt to changing market conditions and maintain a competitive edge.
Use social media strategically
Social media has also transformed the way you connect and communicate with prospects. By leveraging platforms like LinkedIn, Twitter, and Facebook, sales professionals can establish their online presence, engage with prospects in meaningful conversations, and position themselves as trusted advisors and thought leaders in their industry. Social selling is all about building relationships, nurturing leads, and adding value through relevant content and insights.
Beat the overload
In an era of information overload, customers are looking for more than just a product or service—they’re seeking guidance and expertise to solve their business challenges. Additionally, customers have to interact with brands across so many touchpoints, from websites and mobile apps to social media and physical stores.
To deliver a seamless experience, sales professionals need to integrate these channels and provide a consistent journey across all touchpoints. Whether it’s through online chat support, email communication, or in-person meetings, customers should receive the same level of service and engagement, regardless of the channel they choose.
Build and nurture relationships
In sales, relationships matter. Focus on building trust and rapport with your customers through genuine engagement and value-added interactions. Networking remains a top priority—regardless of the job role you’re vying for!
Invest time in getting to know your customers on a personal level, understanding their business objectives, and offering tailored solutions that address their needs. Prioritise relationship building and nurture the ones you create—that’s the best path towards long-term loyalty, turning customers into brand ambassadors.
Learn from your mistakes (and your successes)
Feedback is a powerful tool for growth and improvement. Actively seek feedback from your customers and colleagues to gain valuable insights into your performance and areas for development. Be open to constructive criticism and use it as an opportunity to refine your sales techniques and enhance the customer experience. By embracing feedback and continuously striving for excellence, you can elevate your sales performance and set new benchmarks for yourself.
The different types of selling
In addition to the techniques we’ve discussed, there are also ‘types of selling’ to add to your sales fundamentals. There are multiple different ‘categories’ of selling, many spawning from subjective experiences. With no official list, these are the nine that are most recognised. Each of these is adaptable to the situation and/or the personality of the person doing the selling.
Based on which of the following you resonate with most, it could inform your techniques and your entire sales strategy going forward. Let’s dive into the different types and their characteristics. Be careful, though. Some of these might hurt your chances and may raise ethical concerns. For those examples, it’s best to learn about them to be better informed as employing these styles of selling is not always recommended.
Relationship
Relationship selling is all about—you guessed it—building relationships. Sales reps focus on creating long-term connections with customers, rather than just making quick sales. Customer satisfaction is key here, so reps need to be excellent listeners and really understand what the customer wants. This approach is perfect for industries where loyalty and repeat business are important, like high-end retail or B2B services.
Social
Social selling leverages social media channels to connect with potential customers, build relationships, and drive sales. It’s about engaging with customers in a meaningful way and positioning your brand as a trusted resource. Social selling works best for companies looking to reach a wider audience and build an online presence.
It requires sales reps to be active on social media, share valuable content, and engage with prospects in authentic conversations. Social selling is about building relationships in the digital age and leveraging social networks to drive business growth.
Transactional
Transactional selling is like the express lane at the grocery store – quick and straightforward. It’s all about making fast sales without much focus on building long-term relationships. Sales cycles are short, and the focus is on specific products or services. Sales reps in this type of selling aim to close deals fast, often in just one conversation.
They don’t spend too much time digging into the customer’s needs; instead, they focus on presenting the product or service in a clear and appealing way. This approach works well for products like insurance, real estate, or phone plans.
Consultative
Now, consultative selling is like having a personal shopper. Sales reps take the time to understand the customer’s needs and then tailor their solutions accordingly. It’s all about building trust and offering personalised advice. This approach is ideal for high-ticket items where the customer needs guidance, like expensive software or investment services. Sales reps need strong communication skills and the ability to listen carefully to the customer’s needs without being pushy.
Solution
Solution selling is like being a problem solver. Sales reps dive deep into the customer’s pain points and offer tailored solutions to address them. It’s customer-centric, meaning the focus is more on the customer’s needs than the product’s features. This approach works well for B2B products with longer sales cycles, where the customer is looking for a solution to a complex problem. Sales reps need to be able to paint a picture of how their solution will improve the customer’s experience.
Insight
Insight selling involves using customer insights and data to tailor sales strategies and deliver personalised solutions. It’s about understanding the customer’s needs and challenges on a deeper level and offering valuable insights and recommendations. Insight selling works best for companies looking to differentiate themselves and add value through expertise and thought leadership.
It requires sales reps to be knowledgeable about the customer’s industry and pain points, so they can provide relevant insights and solutions. Insight selling is about going beyond product features to deliver real value and drive meaningful conversations with customers.
Provocative
Provocative selling, also known as the Challenger Sale, is about shaking things up. Sales reps lead assertive conversations, challenge the customer’s thinking, and push back against objections. The goal is to highlight flaws in the customer’s current approach and position their product as essential. This approach is great for companies looking to drive change and transformation with their products or solutions.
High-pressure
High-pressure selling, also known as hard selling, relies on psychological pressure to quickly close deals. It’s about creating a sense of urgency and pushing customers to make impulsive decisions. This approach can be effective in certain situations, but it also carries ethical concerns and risks alienating customers.
High-pressure selling requires you to be persuasive and assertive, using tactics like time-limited offers or emotional manipulation to drive sales. It’s about closing deals quickly, sometimes at the expense of long-term relationships.
Partnership
Partnership selling involves collaborating closely with other companies to serve customers as partners rather than competitors. It’s about joining forces to deliver value and achieve mutual success. Partnership selling works best for companies looking to expand their reach, enter new markets, or offer complementary products or services.
Sales reps would have to build strong relationships with partner companies and work together to address customer needs. Partnership selling is about creating win-win situations and leveraging collective strengths to drive sales.
Final thoughts
To sum it up, modern sales evolved from a transactional, one-size-fits-all approach to a more personalised, customer-centric model. Sales professionals now focus on building relationships, providing value, and delivering seamless experiences across various channels.
This evolution has been driven by technological advancements, changes in consumer behaviour, and the need for businesses to differentiate themselves in an increasingly competitive marketplace.
Due to this, mastering modern sales requires a holistic approach that combines a deep understanding of fundamental principles with innovative techniques and best practices. The field changes form according to the times and that’s what makes it one of the most demanding jobs.
If you’re taking on sales, remember that having the right mindset is as important as all the technical parts. By incorporating these essential sales techniques into your approach, you can adapt to the evolving needs and preferences of today’s customers, drive meaningful interactions, and ultimately, close more deals.
Hone your essential skills and adhere to best practices but also work on how you can be uniquely you while doing it. (Your professional personality carries a lot of weight!)
If you want to kick your career off in 2024, book a call with us, and let’s talk about it. You can also subscribe to our newsletter for the latest career information, tips, and updates. (They’re both completely free!)
