What is Consultative Sales? What is Relationship Sales? A Tutorial | DTSM 80
Written by Dave Lorenzo on November 6, 2019 / Inside BS Podcast
In this show, I discuss what consultative sales is and some reasons why relationship selling is so effective, no matter what your product or service. If you want to know how to win a client, there are a couple of approaches that you can try; however, only one will help you be more successful.
I’ve worked with Pat Murphy of Heartland Payment Systems since 2008. During that time, we’ve had many conversations about the ways to sell credit card processing.
The way most people do it is to go into one store after another – one pizza shop after another. You knock on doors and ask the owner if they want to save money on credit card processing.
This transactional approach to selling focuses on the product that you’re offering. You talk about the benefits and features and hope that the client will be interested. This approach can work for some people but if you really want to know how to win a client, I think there’s a better way.
The other way is the consultative sales approach. This approach demonstrates why relationship selling works because you first get to know the business owner. Once you get to know them, you introduce him/her to people who can do business with them or people who can solve a problem. This way, you’re offering value before you’ve even made a deal.
Rather than knocking on the door of a business and immediately talking about your credit card processing, you start with rapport, which leads to trust.
This is the perfect illustration of how to win a client using relationships. The reason why relationship selling is effective is that it allows you to demonstrate your value. If it works with credit card processing, it can work in any business.