How Fact Based Selling Contributes to Focused and Useful Results
We
discussed the concept of Fact Based Selling in previous newsletters (click here
and here ). Fact Based
Selling is defined as using market data to support sales, merchandising, and
marketing initiatives. Fact Based
Selling provides objective insights that build the case for business
development by providing verifiable data to prospective buyers.
Scott
Knauss, Vice President-Office SuperStore Sales, at Whalen Furniture uses and
enthusiastically endorses Fact Based Selling.
During his career he has put it to good use not only in the furniture
category at Whalen, but also throughout his career with consumer packaged goods
leaders Quaker Oats, Nestle and Crayola.
Knauss adds that the focused data of Fact Based Selling, “moves the
conversation from the subjective to the objective - reality, not just my
opinion.”
According
to Knauss, Fact Based Selling adds to sales force professionalism. As he states it, “understanding customer
objectives and building rapport are only part of the equation. Today’s business professional is respected
and trusted by also being the provider of market data,
insights and trend information that can be used to drive customer results”.
Data
Analysis
To
be effective, Fact Based Selling must include a dedicated data analyst directed
by the customer contact person. “The
challenge is to mine market data with customer directives in mind” Knauss
states. In this way the analysis is
focused and useful. “Speed is everything”
Knauss adds, “No sales person has the time to collect and analyze all of the
market data available.”
Over
time, Fact Based Selling helps define the overall brand marketing
strategy. Not only does Fact Based
Selling provide the initial product placement and in-store merchandising
approach, but it also can help define product life cycle management and
marketing initiatives. These
initiatives can include everything from product selection to merchandising and
messaging, even new product development, all because the market has voiced its
opinion.
The benefits are significant. According to Knauss, Fact Based Selling increases the probability
for success by adding speed and accuracy to customer decision making. Ultimately, he concludes you can move the discussion
from “arguing the case” to focusing on the “solutions needed”.
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