A sales methodology refers to an approach employed by sales consultants in developing their sales skills and sales processes. Sales methodologies differ from business to business but they basically describe the peculiar approaches that sellers use in achieving sales success.
A good practise of sales methodology means that members of a sales team are equipped with skills and frameworks that will help them become expert sales representatives. Because there are many sales methodologies, there are also many training vendors and consultants such as Consultative Selling, SPIN Selling, Provocative Selling and others. For any business that wants to attract a good range of customers, a good sales methodology must be put in place.
A Little More on What is a Sales Methodology
Sales methodologies are essential for businesses that want to grow to a maximum level of impact. However, before you opt for any sales methodology, your business must have a specific focus. A good understanding of the problems your business wants to solve and the kinds of customers you want to attract will help in selecting a suitable sales methodology.
For instance, SPIN Selling dived into a methodology to understand and probe into customer problems while Miller Heiman’s Large Account Selling focused on the expansion of large accounts. Hence, specific focus is crucial to sales methodologies.
Quite a number of people often ask how they can know if their sales process align with their selected sales methodology. This is because in most cases, sales methodologies are confused with sales processes but these two terms are different. Every sales methodology has a general sales process encoded in it but this not mean a seller should have his unique sales process. But if an organization lacks an original sales process, the generic sales process can be embraced.
However, there is a downside of generic sales process because it means that an organization will have to sell different products the same way. Hence, it i important that a seller has a unique selling process that a sales methodology can adapt to.
Getting a sales methodology that suits the type of company or organization is essential. Selecting a sales methodology that is right for your company depends on the standards and priorities of your company. This means that you need to choose a sales methodology that matches your priorities.
There are other ways to choose the sales methodology that fits your company, one of them is selecting the best methodology. The rationale behind this is that the best methodology will also align with the standards and priorities of your firm. Also, you can leverage on a number of methodologies to create your own unique methodology.
References for Sales Methodology
Academic Research on Sales Methodology
• A repeat-sales transaction-based index of commercial property, Gatzlaff, D., & Geltner, D. (1998).
• Repeat sales house price index methodology, Nagaraja, C., Brown, L., & Wachter, S. (2014). Journal of Real Estate Literature, 22(1), 23-46.
• Estimating house price growth with repeat sales data: what’s the aim of the game?, Wang, F. T., & Zorn, P. M. (1997). Journal of Housing Economics, 6(2), 93-118.
• Price indices based on the hedonic repeat-sales method: application to the housing market, Clapp, J. M., & Giaccotto, C. (1998). The Journal of Real Estate Finance and Economics, 16(1), 5-26.
• Depreciation of housing capital, maintenance, and house price inflation: Estimates from a repeat sales model, Harding, J. P., Rosenthal, S. S., & Sirmans, C. F. (2007). Journal of urban Economics, 61(2), 193-217.
• Real estate prices: A Paris repeat sales residential index, Baroni, M., Barthélémy, F., & Mokrane, M. (2005). Journal of Real Estate Literature, 13(3), 303-322.
• House price indexes: Methodology and revisions, Silverstein, J. M. (2014). Research Rap.
• New methodology for constructing real estate price indices applied to the Singapore residential market, Jiang, L., Phillips, P. C., & Yu, J. (2015). Journal of Banking & Finance, 61, S121-S131.
• Housing price indices based on all transactions compared to repeat subsamples, Clapp, J. M., Giaccotto, C., & Tirtiroglu, D. (1991). Real Estate Economics, 19(3), 270-285.
• Repeat‐Sales Indexes: Estimation without Assuming that Errors in Asset Returns Are Independently Distributed, Graddy, K., Hamilton, J., & Pownall, R. (2012). Real Estate Economics, 40(1), 131-166.
• Australian house prices: A comparison of hedonic and repeat‐sales measures, Hansen, J. (2009). Economic Record, 85(269), 132-145.
• Changes to the retail sales methodology, McLaren, C. H. (2009). Economic & Labour Market Review, 3(6), 66-70.