“Insight selling” is a strategy that’s recently gotten a great amount of traction in the business community, but it’s one woefully underutilized in actuality. Only one in ten salespeople make use of insight selling despite the fact that it’s widely regarded as a factor in the evolution of sales methodology. This is in large part due to the fact that the buzzword is so poorly understood. If you want to understand insight selling and how you can incorporate it into your business model, consider this a primer.
What is Insight Selling?
If the quality of a product or service is dependable, it’s fundamentally in the best interest of salespeople to make sure that their prospective customers understand its intricacies. This is the core premise of insight selling. In other words, the salesperson doesn’t exist just to make a basic pitch to the customer but instead to guide them through every step of the sales process, helping them customize a package that’s tailor-made to the client’s needs. Understandably, this requires a deep level of engagement on the part of the person making sales. They have to not only understand their product or service inside and out, but they also have to take the time to learn about their customer and help them through the purchasing process. At its best, those well versed in insight selling can help the client understand something new about their own business and pitch them on a service or product that they didn’t know they needed.
The Dual Approaches to Insight Selling
While insight selling as a theory is still in its formative stages, two main methodologies have developed for how it can be utilized. These take the form of interaction insight and opportunity insight.
Interactivity insight is not dissimilar to the Socratic method. It asks customers to examine how they do business, to think creatively about problems they might not have realized were present, and to come to actionable solutions – that can most often be solved by the product or service being offered – to resolve those issues.
Opportunity insight is about proactively approaching a sale by identifying a business that could use a particular product or service and coming in strong to outline potential problems without direct intercession from the prospective lead.
At its best, these two forms of insight work in tandem with one another, but they don’t necessarily need to. Regardless, insight selling is built around specialists leveraging their specialized knowledge for the greater good. It’s a process that requires more training and a more proactive approach all around, but it’s one that can pay dividends for a company willing to invest the resources.