Insight selling is a sales approach that focuses on providing customers with unique, valuable, and actionable insights about their business, industry, or market.
The goal of insight selling is to move beyond traditional product-based selling by demonstrating a deep understanding of the customer’s needs and challenges, and offering customized solutions that deliver real value.
In insight sales, the salesperson acts as a consultant, using their expertise to offer advice and recommendations that go beyond the features and benefits of their product. They aim to build trust with the customer by demonstrating a thorough understanding of their business, and by offering insights and solutions that are tailored to their specific needs.
There are typically four parts to insight sales: Research and analysis, Insight development, Insight communication, Collaboration and problem-solving. Below we will go into details regarding these aspects.
Research and analysis
These are essential components of insight sales. Before engaging with a customer, a salesperson should conduct research to gain a deep understanding of the customer’s industry, competitors, and specific business challenges. This research helps the salesperson to identify opportunities to provide valuable insights and recommendations that can help the customer solve their challenges and achieve their goals.
The research and analysis process can involve a variety of methods, including online research, industry reports, trade publications, social media monitoring, and customer interviews. The salesperson should gather as much information as possible about the customer’s business, including their products or services, target market, competitive landscape, financial performance, and strategic objectives.
Research and analysis can also help the salesperson to anticipate the customer’s objections or concerns and prepare responses that address these issues. This preparation can help the salesperson to build credibility and trust with the customer and increase the chances of a successful sale.
Insight development
This is the process of using the research gathered about the customer’s industry, competitors, and specific business challenges to develop unique insights that can help the customer improve their business outcomes. These insights may include industry trends, best practices, or data-driven analysis.
The goal of insight development is to provide the customer with valuable information that they may not have considered before. By offering unique insights, the salesperson can demonstrate their expertise and add value beyond the product or service they are selling. This can help to differentiate them from competitors and build trust with the customer.
To develop insights, the salesperson should analyze the research gathered during the research and analysis stage. They should look for patterns, trends, and opportunities that are relevant to the customer’s business. This analysis should be used to generate ideas and recommendations that can help the customer solve their challenges and achieve their goals.
Once insights have been developed, the salesperson should communicate them to the customer in a clear and concise way. They should explain how the insights were developed and how they can be applied to the customer’s business. They should also be prepared to answer any questions the customer may have and provide additional information as needed. By using research to develop unique insights, the salesperson can differentiate themselves from competitors and add value beyond the product or service they are selling.
Insight communication
This is a crucial part of insight selling. After the salesperson has developed unique insights based on their research, they need to share them with the customer in a way that is engaging and relevant to their specific needs. This may involve using data visualizations, case studies, or other forms of communication.
The communication of insights should be tailored to the customer’s preferences and needs. The salesperson should consider the customer’s level of knowledge and understanding of the topic, as well as their communication style and preferences. This will help to ensure that the insights are presented in a way that is easy to understand and relevant to the customer’s business.
The salesperson should also be prepared to answer any questions the customer may have and provide additional information as needed. They should be able to explain how the insights were developed and how they can be applied to the customer’s business. They should also be prepared to discuss any potential challenges or concerns the customer may have and offer solutions or recommendations. By presenting unique insights in a way that is engaging and relevant to the customer’s specific needs, the salesperson can build trust and credibility with the customer.
Collaboration and problem-solving
These are key components of insight sales. After the salesperson has communicated the insights to the customer, they should work with the customer to identify and solve specific business problems, using the insights as a starting point.
Collaboration involves working with the customer to understand their unique needs and challenges. The salesperson should listen carefully to the customer’s concerns and ask questions to gain a deeper understanding of their business. This collaboration can help to build trust and credibility with the customer, and ensure that the solutions offered are tailored to their specific needs.
Problem-solving involves using the insights to develop practical solutions to the customer’s challenges. The salesperson should use their expertise and knowledge of the customer’s business to identify potential solutions, and work with the customer to evaluate their feasibility and effectiveness. This process may involve brainstorming sessions, prototyping, or other collaborative methods.
In conclusion, insight selling is a powerful approach to sales that focuses on providing unique insights and solutions to customers based on deep research and analysis. By using insights to differentiate themselves from competitors and add value beyond the product or service they are selling, salespeople can build trust and credibility with their customers, and become trusted advisors and partners in their business success.
