What is Decision Intelligence Selling and How can you practice it
Boost your sales using Decision Intelligence Selling
Sales are often seen as a profession where reps try to manipulate you with a dark web of words and convince you into buying products that you don’t end. And for a lot of people, it is so, because your ultimate goal is to convince a buyer of what you are selling.
Dr. Roy Whitten and Scott Roy have been pioneering a different approach to selling for the last few years – the decision intelligence selling approach. It retains the essence of B2B sales that has been lost over the years – an actual concern for solving the client’s problems.
What is Decision Intelligence selling?
Decision Intelligence abbreviated as ‘DQ’ is a selling concept; an alternative to Emotional Intelligence and Intellectual Intelligence. In a DQ approach to a prospect, a sales rep is fully committed to assisting their prospects in making the most profitable decision for their business, even if it does not involve the purchase of the seller’s product.
This takes place through a series of discussions, where the rep strengthens the client’s understanding of the problem and raises their decision intelligence to a level, where they can independently take the best decision to solve their problem.
You might believe that your reps have been following this approach since time immemorial, but those consultative sales still revolve around you. When a potential consumer gets back to you, you gradually build a relationship of trust and personalize your offer according to their needs. In a way, you are still posing your products as their solution and persuading them to look at it the way you are.
This is the difference between DQ-based selling. You have a genuine problem-solving approach towards the client and smoothen their path to self-discovering what is actually right for their business, irrespective of whether they choose to transact with you or not.
Why do you need to practice Decision Selling?
Decision Selling has more hidden advantages than you thought.
When you lead a buyer to the cognizance of their problems, the deal you are trying to close becomes larger and consequently more profitable because of the ‘undiscovered’ issues they were facing.
The objections that arise at the end of a discussion reduce considerably because most of them will already be addressed through the DQ cycle.
The concept will benefit you more as an individual because you will not be the average manipulative and pushy seller. You will move out of the role of a stereotypical sales rep and emerge as an expert consultant who has a real concern for clients. This will make you an honest people’s favorite and client-friendly. You will finally be able to sleep without the guilt of pushing someone into unnecessarily buying from you.
Why do you need to Increase your Client’s Decision Intelligence or DQ?
Surprisingly, it turns out that your clients do not proceed with the sales cycle after acquiring a comprehensive awareness of their problem. This means that when they meet you, their DQ is low and it impacts their willingness to learn about what they actually need to know.
Their mind revolves around only two aspects – the price and time investment required in your product to be able to see the RoI. Stats reveal that almost 6 in 10 buyers want to discuss pricing in the first interaction and 50% of buyers want to see the working of the product. They will subconsciously have an idea that you are trying to sell to them.
But when you’re dedicated to improving your client’s DQ, you guide them to a thorough understanding of their problem. It is after this that they measure the magnitude of the situation and how it impacts their business and employees. A compelling sense of urgency to solve the issue is created.
Through these discussions, your lead is automatically nurtured and primed for the introduction of the solution, in comparison to the 79% of leads that don’t convert due to lack of nurturing.
If your solution captivates them adequately, the prospect will show confidence in the fact that an immediate solution needs to be implemented to reduce or eradicate the loss their business is incurring. Once confidence becomes strong enough, they express more willingness to buy.
This process will also qualify your buyer and increase your chances of an evaluated sale – 67% of lost sales are a result of sales reps not properly qualifying potential customers before taking them through the full sales process.
How can you implement Decision Intelligence Selling?
1. What are the problems your product/services solve for your target market?
Understanding which problems your product or service solves for your clients is the first step in implementing a DQ-based approach to selling. Look through your past and present clients and review their projects.
Make a list of the difficulties they were facing, the challenges they were going to confront, and enlist the ones that can be solved by your offerings. It will help you select your prospects more accurately because 50% of your prospects are not a good fit for what you sell.
Once you do this, you will be able to prioritize the problems you can solve efficiently and prepare problem propositions for your clients. It will encourage them to further open up more about the issues at work and you can talk to them in detail about the root cause of such hindrances.
Only 42% of marketers solicit a two-way conversation with potential buyers, and if you can do that, it will develop a better relationship with your prospect. The important part is that the client and you should be on the same page to continue the sales process.
2. What is the cost your clients can bear for not solving this problem?
Budgets are important for the way B2B companies function and also a reason why clients might hesitate in choosing your product. However, it might happen that not solving a particular issue brings them more expenses than what they are going to spend on your product.
A component of raising your prospect’s DQ also involves showing them the picture of their business before and after the purchase of a product. It ensures that the buyer clearly sees the cost that they are bearing or will bear in the future for not solving the issue. Even if the identified challenge does not require immediate attention, it will eventually, and by then, the client would have already lost the revenue that could’ve been saved by looking at the bigger picture.
Finances more than often hinder the buying process; hence you have to make sure that your prospect knows what costs they will incur in not buying a solution, and overlooking the real price he has to pay in the long run.
Answers to these questions will help you develop a decision-intelligence culture in the team!
Decision-intelligence based selling is a big cultural shift from how you sell to clients at the moment. Culture shifts don’t happen with individuals overnight, it requires the whole team to share the ideology and help each other along the way.
When you have answers to the questions above, you will be able to assist your colleagues in dawdling around the first step to gain complete awareness of the client’s problems and completing the second step with clients who are not accustomed to this way of selling.
The first two steps or the aforementioned questions are an integral part of DQ-based selling, and your team needs to master it before moving on.
In this fiercely competitive B2B market, you have to be on your best every day; else you end up losing clients and revenue. But what if your approach to a prospect is completely different from the others?
Everyone knows how to create the best of designs on their presentations and the most effective case studies to pick up to appease a client, but not everyone talks about the actual problems faced by them. It’s time to FILL the gap.
To help you do this efficiently, it’s best to seek additional guidance from expert B2B sales and marketing consulting firms. Since they have the required expertise and experience, it will help you carve a successful way ahead.
Shifting to a DQ-based approach from your traditional sales approach might cost you a few clients initially, but once done, the results will be worth the patience and hard work.
Do you also want to adapt to DQ-based selling? Contact us today and we will take care of the rest!