Strategic buying behavior and different sales model

Understand your buyer’s journey:

Dive deeper into the potential customer’s journey with your personas and value matrix, both from the buyer’s perspective and from the company’s perspective.

More or less, it will go like this:

1. The buyer realizes that they are having the problem.
2. They will research about the topic.
3. The buyers will shortlist potential solutions.
4. Talking with the sales team and testing the products further narrow the list.

The buyer’s journey: used to be at the top of the funnel from the business perspective. It narrows down gradually as the opportunities fall out of the pipeline.

The journey is divided into three sections:

Instead of using the traditional sales funnel method, we recommend using the flywheel method, which puts your customer at the center, and turn your leads from prospects to customers and then to active promoters, which is more holistic approach.

In the flywheel method, the customers go through three stages: attract, engage, and delight.

1. Attract phase:

In this stage, the potential audiences will get attracted to wards the content. It can be in the form of blog, whitepapers, or videos. We can get the leads from here when they click ads or follow any social media accounts.

1. Engage phase:

In this stage, a prospect has demonstrated your product and is sure that your services can solve their problems. Downloading an e-book or joining a webinar, will give you an opportunity to engage them with more content.

1. Delight phase:

When your customer has reached the delight phase, the customer gets one step ahead and become the promoters of the products or services by recommending it to other potential audiences.

Choose one or more than one common sales strategy:

After completing all the foundation work, you are good to pick one strategy that will push your products into the market. Not all of the methods will work for every product, thus consider the complexity, scalability, and cost of the marketing strategy.

The 4 sales strategies are:

#1 The self-service model:

The self-service model is when a customer makes purchases on own. It works best for high volume sales and low-cost point with simple products. We see this model with B2C purchases where a customer has found the products online and are purchasing from Amazon or Flipkart.

#2 The inside sales business model:

The inside sales business model means a strategy nurtured by a sales representative to convert into a deal. It works with the model and products with medium complexity and price.

This business model is fairly easy to build and profitable as you hire more team members. The sales team in this model comprises of sales manager that supervise the representatives.

#3 The field sales business model:

It is the business model that has full sales organization, which closes large enterprise deals. These are very complex products that have low volume deals and large sales cycle.

The sales team and representatives are quite costly requiring high salary employees. It takes more time and money to adopt this business model.

#4 The channel model:

This model includes an outsourcing partner or an outside agency that will sell your products on behalf of you. It is the most complex model as good sales manager are hard to find and it is difficult to educate them as per your product. However, this is a cheaper model as compared to others as you do not need to pay a sales team of your own.

For instance, if you are selling iPhone cases, you need to find the partners or people selling related products like Apple iPhones.

Wrapping-up

In this article, we learned about the strategic buying behavior and also about different sales model. In the next blog, we will be learning about step-by-step process of go-to-marketing strategies.

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