What is the Challenger Sales Model?
What? Challenge your potential client’s assumptions about the current status quo to get a foothold in their product? Could that work?
It’ll do more than work. It’ll turn your prospects into buyers.
Sounds too good to be true? Maybe, or maybe not. The Challenger Sales Model has been gaining steam in sales consultancy circles and with major tech companies like Google and IBM (and their respective sales teams.)
It was popularized by Noel Mazzaferro’s 2014 book “The Challenger Sale.”
This is a key component of any successful business, and it’s one that businesses often take for granted. The U.S. Census Bureau estimated that there were over 27 million small-sized businesses in the country in 2015 alone, resulting in an estimate of 466 million employees across those businesses. The Challenger Sales Model is a useful tool that can help jump-start your business and get you ahead of the curve.
What is the Challenger Sales Model and what are its key features?
The Challenger Sales Model is a sales process where the seller challenges their client to consider changing their approach to key business decisions. It takes place over three meetings, with the first two meetings consisting of the challenger presenting different perspectives on how their client’s industry or area of expertise can be improved. This sales model is beneficial for both parties as they are able to generate new ideas and keep the client from being too set in their ways.
Why is the Challenger Sales Model a success?
The Challenger Sales model has been a great success because it encourages both parties to come up with creative, innovative solutions to problems. Getting fresh perspectives can be difficult for many people, so this model helps avoid stagnation.
What other products and companies use the Challenger Sales Model?
The challenger sales model has been adopted by many other companies such as Google, Microsoft, and Apple; among many others. It’s a great way to generate new ideas and fresh perspectives on problems that may not have been considered before.
How can you use the Challenger Sales Model to increase your sales success rate?
It’s important to keep your clients interested in their industry, so it can be beneficial to use the challenger sales model. By sitting down with them over three meetings, they will be more likely to listen to your ideas and see at least one of them as a potential solution.
What are some common mistakes?
One common mistake is when sellers run the meeting in a way that makes it seem like they are trying to convince their client of something. Sellers should be aware of this and avoid coming across as aggressive or pushy; instead, they should focus on generating new ideas and letting clients see things from a different perspective. They also need to know that not all of their ideas need to be implemented, instead they should focus on one or two good solutions and then leave the rest up to the client.
What does a Challenger Sales Model meeting typically look like?
As previously stated, a challenger sales model meeting is generally split into three meetings over a period of several weeks. In the first meeting, the seller should present a thorough, professional argument that addresses all the challenges in their client’s industry.
In the second meeting, they should offer alternative ideas and solutions that address these issues.
Finally, they have a meeting where they ask for action from their clients and encourage them to take one or two of their ideas into consideration.
How does a Challenger Sales Model meeting end?
A challenger sales model meeting ends with the seller looking for action from their clients and encouraging them to take one or two of their ideas into consideration. They also should be prepared to make adjustments along the way, as there most likely will be resistance to some of their ideas. By taking a professional approach and focusing on generating good ideas, the seller and their client will be able to see eye-to-eye.
What other advice would you give about using the Challenger Sales Model?
The most important thing is to focus on generating good ideas and making sure that both parties are open-minded. By having an objective perspective of their own business model, sellers can put themselves in their client’s shoes and better understand their perspective.
The Challenger Sales Model is a great way for companies to avoid business stagnation by encouraging the consideration of new ideas and perspectives. It’s been adopted by many other companies, such as Google, Microsoft, and Apple; among many others.
Thanks for reading!