The Death of Transactional Sales in B2B

"Transactional customers represent the quickies of the sales world. They know what they want and they'll get it real soon. Expect high volumes of small transactions and a much shorter sales cycle. Handling consultative customers, on the other hand, is like making slow, languid love." thomsondata.com

As someone in B2B that prides himself on the power of human-to-human connections in sales, I couldn't be happier to notice the end of "Transactional Sales" in sight. Again, this is mainly in the B2B space as transactional sales are still crushing it in the game of e-commerce, etc. However, if you're in the B2B space, pay attention as I guide you through the shift of transactional to consultative and the benefits. First, let's gain a solid understanding on what each form of sales truly means...

Transactional selling focuses on one-time sales, with the ultimate goal of making the maximum amount of sales from the maximum amount of customers. Think retail, e-commerce, etc. When a transactional sale is done, so is the relationship between the customer and the business.

Consultative selling is a needs-based selling approach that focuses on building a relationship with a customer or prospect, understanding their problems, and developing solutions to their challenges through open-ended questions and active listening.

To put it simply, transactional selling is all about making the product or service FIT the customer while consultative is about fitting the product or service to the customer's specific NEEDS and PROBLEMS. Hence the need for a true "consultation" to gather all necessary information to build specific solutions that actually solve pains for your customers. Yet, when we stay the course with a transactional focus, we're simply hoping it solves the problem and crossing our fingers the entire time... as is our customer.

Nobody Wants to Be SOLD

The problem that transactional selling causes in a B2B environment is a perceived feeling that you don't care as much as the customer feels you should. Human beings that don't live, eat, and breathe sales actually have a massive stigma around salespeople. The reason? Pushy transactional salespeople that burned them in the past. You know, the good old "used car salesperson" line we get far too often in the business...

Additionally, transactional sales can feel abrasive and negative in the days of available information. In other words, why do I (as a customer) want to deal with someone that feels uncaring and pushy when I can just find another person to contact in seconds online? This is when we'll get the typical, "I have to think about it, but I'll call you back tomorrow..." We all know that won't happen and they'll be giving someone else their credit card tomorrow instead.

People Want Relationships with Those Taking Their Cash

In a world filled with bots and AI, you'd be amazed at how many humans want... well... humans. It's something we all like to call "The Human Factor" in business. Prospects want another human being to truly hear them, communicate with them, and help them solve a problem. They also want honesty, transparency, and accountability in the people taking their money. Heck, I care more about the integrity of a company than I do about what they're selling. It's just facts...

Luckily, this means that the world of B2B sales just became extremely easy for all of us. Think about it, it requires 2 key components to succeed in the game: to be an honest human being and to sell a product that actually works. That's it. Period. The end. Sure, there's more to it than that, but at the core of what it takes to succeed these days, that's it!

Pro-Tips on CRUSHING the Consultative Approach

So, what are some crucial pointers that I can provide you and your team on the topic? Let's dive in below:

"Have a proven process to your calls."

People want to be guided to the solution. They want their hand held and to be taking to exactly what they need to purchase. That's where our sales process comes in, my friend. Ensure that you have a step-by-step process to uncover the potential solutions for your customers and guide them through as a master of that process.

"Ask questions the RIGHT way."

If you're even 10% successful in sales, you know that questions are key. They remove dead air, they force the attention of your prospect, and they open the doors to the solution you need to sell. However, we often forget a simple format that allows our questions to feel like effective communication...

• Actively Listen
• Acknowledge the Customer
• Add a Pertinent Statement
• Ask the Next Question

"Be a customer advocate."

One of your goals is obviously closing the deal, but it should NEVER be your main focus. Instead, the main goal to sales success is simple... Do everything you can to either make sure you have the RIGHT solution for them, or send them somewhere that does. In other words, only close the deal if you know it's the right deal to close.

Believe me, I really love added revenue, but I don't love obtaining it from someone that won't actually benefit from what they paid for. It's always far better to stop the sales process than continue if you know it won't solve their problem. Remember that. Own that.

"Expectations are promises."

Lastly, the key to rocking the game of consultative sales is gaining trust with your prospects. Among many other ways to gain and build trust, one thought rules them all.

We see expectations as JUST THAT, but your prospects hear them in the form of PROMISES. We need to intentionally set multiple expectations and deliver on each one of those exactly as stated. For every promise made and delivered on? We build a solid layer of trust with prospects. The more trust, the more money. Simple as that.

In my career, I'm responsible for over $750,000,000 in sales for my clients. I don't say that to impress you or show off a fancy number in any way. In fact, I only remind you of this to add emphasis to the lesson here. I've been there, done it, and will continue for years to come. Keep rocking the sales game and focus on growing your connections like never before!