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Oh what's the secret to sales success you'd say it's fundamentally about relationships and you'd be just wrong the best salespeople not only build relationships with customers but challenge them Matthew Dixon Brent Adamson and their colleagues at corporate Executive Board have studied thousands of customers and sales professionals around the world in every major industry geography and business model and discovered that this classic relationship building is losing its approach in today's complex business world now what's in it for me learn the most effective highest-performing approach of selling in a complex sales environment like the 2009 recession a time when buyers seemed to have gone extinct but these salesmen not only managed to pull off but go beyond their target goals next learn the winning sales behaviors and finally learn how to create a differentiated sales experience what the author discovered was the biggest shock to conventional sales wisdom and decades check the examples given in this video later for better understanding most organizations think superstar sales representatives are born not made but the authors found that wasn't true at all any sales professional can be trained to think like a challenger for the first time our customers knew more about us than we know about them that is because of the vast information available just by a click today's customers don't need sales representatives in the same way as in the past customers now wait until they are 57% through the purchase process before contacting a sales rep the best sales representatives win the battle not by discovering what customers already know but by teaching them a new way of thinking altogether due to this more complicated sales environment it's no longer what you sell it's how you rather sell the author reveals that 53% of customer loyalty is driven by the sales experience more so than by the brand product service and price combined a customer's interaction with a sales representative largely dictates this experience so what is the challenger sales model the Challenger sales model is a sales approach in which the seller actively teaches their prospect tailors their sales process and takes control of the customer conversation the Challenger sales model believes anyone can become a challenger if they build the right combination of skills let's take Spotify for example today Spotify is one of the best-known global companies on the planet but what did this Swedish company do to get such a global attention there are many streaming music services but what makes Spotify unique is its focus on helping users discover new content the word helping should relate towards teaching and pushing the customers towards a totally new user experience rather than the cliche of typical music streaming platforms how did they do this in a dish to the typical filter by genre Spotify also allows users to choose music based on their moods whether you want to workout sleep or even need some songs to sing in the shower this helps users discover songs that would never have occurred to them specifically based on the user's habits like discover weekly thereby tailoring their requirement and in turn reinforces their relationship with the brand by taking control of the customer in other words solution selling requires sales representatives to do more than just a sales pitch they have to work closely with the customer find out their requirements and research every detail to offer a good solution the author's research revealed that every sales professional in the world falls into one of five distinct profiles firstly there's the hard worker who goes the extra mile doesn't give up easily is self-motivated who puts in twice the effort likes feedback and development second of all there's the Challenger who has a different view of the world understands the customer's business loves to debate pushes the customer with innovative ideas and insights third there's the relationship builder who builds strong customer relations gets along with everyone and is always there for their customers fourth the lone wolf lone wolves are independent they follow their own instincts never writes a report and won't get on the team spirit bandwagon in fact you would probably fire him if he weren't so darned good at his job and finally a problem solver these employees are more customer oriented than sales oriented they respond reliably ensures all problems are solved and is detail-oriented of these five types of salesperson the challengers are the ones most likely to thrive in a solution selling environment although you can find average performing sales representatives among all of the types almost 54% of the top sellers come from the Challenger ranks in other words a challenger is the best kind of sales representative when it comes to offering customers a solution let's take a closer look at what it is that makes challengers so special one major aspect of the Challenger technique comes down to teaching and why is this quality so important many companies don't realize that the average customer can't differentiate between various products and brands so when it comes to making a purchasing decision sales are often the deciding factor for example you might sincerely love pitching a financial product that provides one percent more annual return than a competing product but your customer might not appreciate that feature to same extent however your customer probably does care about the sales experience in fact the authors realized this when they conducted a study of over 5,000 customers their research showed that 53% of customer loyalty depends on the sales experience now that's huge when you know so much about their business that you can teach them something being able to deliver this experience is precisely what wins a challenger so many deals the good sales conversation between the sales representative and customer would follow these six steps let's see this with an example for an instance a customer is looking at purchasing certain company shares during the kovat 19 situation and is looking for assistance this is where you as a salesperson should realize that the customer has reached the 57% intuition to buy now it's the job of the sales representative to convince the customer first as a sales rep you would build your credibility through certain facts let's say about the economy as a whole and then get into certain industries next you'd reframe the problem and provide an insight from a different perspective in this case saying many of the small companies are not set up to take risk on the kovat 19 situation after this you'd explain why exactly the issue at hand is bigger than the customer may know for an instance you can share information with the customer that proved that these companies have huge cash flow issues and the banks are also not trusting these small companies as we can witness foreign investments have been on steady decline on these particular stocks then you demonstrate how the problem impacts the customers investments by saying with this you will find the stock not being trustworthy and I am sure you would not want to park your money in a place like that here as a challenger you separate yourself from the sales pack now you offer something new to improve the clients current situation perhaps you say you could look at the blue-chip companies that are now available at a discount as they are at a five-year low also I am certain that these companies wouldn't fall as they have taken hurricanes in the past they will be the first to get back to success and you could gain a good profit in a short span next the customer would want to know which companies and you have the solution of course at hand yet you only offer your solution at the very end of the conversation by now the prospect is convinced they want to improvise but they don't how at this point you say luckily we are financial advisors and we are here to support you in other words the effective sales aren't just about pitching a product it's about teaching and changing the perspective of your potential customer it's crucial to make your solution attractive to every individual involved in the decision now what does this mean let's take another example always remember that is the senior stakeholder who is the decision-maker but senior stakeholders always take advice from the subordinates at times in a b2b you'll be put in a meeting with junior executives just because the company is curious about what else is on the market and that is where you will need to tailor your conversation to that particular stakeholder for example for a procurement person saving costs lead time deliveries added services are the key words while for an HR it's reducing manpower or providing solution to manpower on retention or IT with providing knowledge as to why this product would be best suitable to your industry and by you considering these added features it can take over certain tasks and reduce work hours these tailor-made insights thought to individual professionals lead to conversations with the senior stakeholder as they find support and acceptance from their staff now when to move on at times to avoid wasting time and money researching the company and preparing a good teaching conversation ask when a senior stakeholder will get involved and if you don't get a clear answer you might want to start looking for a new prospect instead finally share knowledge and solutions with your entire sales team so you all can win together to summarize first learn valuable knowledge about your customers industry secondly when you're preparing to have a teaching conversation pay attention to the unique aspects of your product others don't fully appreciate and third teach tailor and take control of the customers unique problem the Challenger sale has sold nearly a million copies worldwide has been translated into eight foreign languages and has appeared on the Amazon and Wall Street Journal bestseller lists on multiple occasions since its release that this video was useful please like subscribe and share