The challenger sales model is a way of selling that is based on engaging the client in a more consultative, solutions-oriented discussion. The goal is to help the client see the value of the product or service you are selling and to get them excited about it. This type of selling can be especially useful for companies that are introducing a new product or service to the market.
What is the challenger sales model?
The challenger sales model is a selling approach that focuses on creating and closing opportunities with new or “challenger” accounts. It’s designed to help you win bigger and more complex deals by shifting the focus away from current customers and towards potential ones.
The way it works is by putting your best salespeople in front of potential customers who are not already using your product or service. These representatives need to be able to articulate the value of your offering and how it can solve the customer’s problem.
The challenger sales model is based on a few key principles:
- Create a sense of urgency – you need to make the customer feel like they need to act now if they want to get the best deal.
- Focus on potential customers – spend most of your time trying to win over new customers, not current ones.
- Sell the value of your product – you need to articulate how your product can solve the customer’s problem.
- Position your offering as a solution – don’t just sell your product, sell the solution it provides.
The benefits of using the challenger sales model
There are a few key benefits of using the challenger sales model:
1. It can help you close more deals. Because the focus is on engaging the client and helping them see the value of what you are selling, the challenger sales model can lead to more closed deals.
2. It builds trust. When you take the time to understand the client’s needs and work with them to find a solution, they will trust you more. This can lead to longer-term relationships and more repeat business.
3. It creates excitement. When the client is excited about the product or service, they are more likely to buy it. The challenger sales model helps you create that excitement by providing information and solutions that apply to the client.
4. It helps you stand out from the competition. The challenger sales model is a more consultative way of selling, which can set you apart from your competitors who may be using a more traditional sales approach.
5. It’s effective in complex sales. The challenger sales model is particularly useful in complex sales situations where the client has a lot of questions and needs more help navigating the buying process.
6. It’s adaptable. The challenger sales model can be adapted to fit the needs of any business, no matter what their size or product offering.
7. It’s scalable. The challenger sales model can be used by any business, regardless of their size. It can be scaled up or down to meet the needs of your company.
How to use the challenger sales model
There are a few key steps to using the challenger sales model:
Identify your target market – you need to figure out who you’re targeting and what their needs are.
Research your competition – learn everything you can about your competitors and how they’re selling their product or service.
Develop a strategy – come up with a plan for how you’re going to win over new customers.
Train your sales team – make sure they understand the challenger sales model and how to implement it.
Execution – put your plan into action and start winning over new customers!
Some challenges of using the challenger sales model
The challenge with this approach is that it takes a lot of time and effort to identify and qualify these potential customers.
Another challenge is that it can be difficult to position your offering as a solution. Your sales team needs to be able to articulate the value of your offering and how it can solve the customer’s problem.
Finally, it’s difficult to keep track of all the potential customers you’re targeting. You need the right tools and resources to help you manage this process.
If you’re looking for a more consultative way to sell your products or services, the challenger sales model may be the right choice for you. It has many benefits, including increased closing rates, trust and loyalty from clients, and excitement about the product. It’s a versatile model that can be adapted to fit the needs of any business, making it a great choice for companies of all sizes.
So, what are you waiting for? Give the challenger sales model a try!