Video: 3 New Skills Sellers Need for H2
3 New Skills Sellers Need for H2
Navigating the ever-changing landscape of the business world has never been more challenging. As we continue into 2023, business leaders are facing even more uncertainty. This has significantly impacted how business leaders approach their decision-making processes. The spotlight shines on every buying decision, demanding that leaders meticulously evaluate each choice before commitment. In this dynamic environment, sellers need to elevate their skill sets to not only navigate the turbulence, but to thrive in it. To find success, business leaders need to master a sharper, more refined set of skills, tailored to the unique challenges of this era. In our video below, we share what skills sellers need to find success in the second half of the year, including:
- Developing hyper-focused deal qualification skills
- Building negotiation skills to overcome price resistance
- Getting proactive about customer retention
Develop Hyper-Focused Deal Qualification Skills:
In recent years, CEO turnover has steadily increased, leading to rapidly changing business plans. In this constant state of change, sellers need to develop a set of hyper-focused deal qualification skills. These skills include:
- Identifying opportunities that allow sellers to access decision makers fast
- Understand the level of business impact they can offer the customer
- Get an accurate measure of the deal’s value
By harnessing this skillset, sellers can ensure their time and resources are channeled towards opportunities that offer the most value. With quicker access to decision makers, sellers move more quickly through their sales journey. Sellers can also develop deeper relationships with their customers by better understanding the level of business impact they can offer. This builds trust and shows that the seller truly understands the customer’s needs and what they can provide.
The ability to discern the right deals from the wrong ones is necessary for success in the second half of 2023. With the right deal qualification skills, sellers can separate the noise from the signals and concentrate on the deals that bring the most value.
Negotiating to Overcome Price Resistance
Due to a refocus on cost, businesses are shifting to zero-based budgeting. Many businesses are overhauling their previous approach to budgeting, starting with a completely clean sheet. Overcoming price resistance requires a strategic negotiation approach that focuses on preserving the relationship. This approach starts by harnessing these three skills:
- Quantify value of the solution
- Up tire to senior level stakeholders
- Bringing higher level EQ skills to the negotiation to maintain the relationship.
Sellers need to build negotiation skills that are not just persuasive, but resilient. With the proper negotiation skills, sellers can showcase the value of their solution and how it fits in to the customer’s needs. By understanding the psychology behind price resistance, sellers can transform even the most challenging negotiations into opportunities for mutual gain. In an age where every dollar counts, the ability to conquer price resistance is futile.
Get Proactive About Customer Retention
It is six to seven times more expensive to acquire a new customer than it is to retain an existing one, making customer retention an increasingly important skill for sellers. Often, sellers think that they have a strong relationship with their customer when the customer doesn’t offer many comments. However, one of the most common mistakes sellers make is confusing customer silence for customer satisfaction.
To ensure the seller actually has a strong relationship with their customer, they need to focus on three skills:
- Asking the customer about their H2 plans
- Understanding how the customer’s strategy will change
- Learning how the profitability mix of the core capabilities might be changing
Sellers need to stay close in communication and can’t be afraid to ask questions that could pose challenges. Retaining a customer is not just a transaction; it's an ongoing partnership. Sellers who understand this are poised to create a sustainable foundation for their success.
The business landscape of the second half of 2023 is marked by uncertainty and increased scrutiny. In response, sellers must cultivate a refined skillset to succeed. Watch our short video below for a deeper look at how to unlock hyper-focused deal qualification skills, effective negotiation techniques to conquer price resistance, and proactive customer retention strategies. These skills are no longer optional; they are the pillars of success in a dynamic and ever-changing environment. Equip yourself with the tools to not only navigate but conquer the challenges that lie ahead.
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