Popular Sales Methodologies Overview

If you’re a sales professional or work to support them, then you’ve likely heard of the most popular sales methodologies. The purpose of this blog is to provide a high level overview of the following sales methodologies - Challenger, Sandler, MEDDIC, SPIN, and Solution. Even having a cursory understanding of their main points will give you an advantage over your competition.

The Challenger Sale

As the name suggests, this method is based on having the salesperson challenge the customers’ preconceived notions and educate them on new ways to solve their problems.

Main Points

• Provide valuable teachings and insights that differentiate their offerings from competitors

• Customize the sales approach to align with each customer's specific needs

• Take the lead in the sales process by guiding customers toward your offering as a solution

Sandler Selling System

This method is centered around understanding and addressing the prospect's pain points.

Main Points

• Ask probing questions to uncover the prospect's pain points

• Determine if the prospect is a good fit for your solution

• Establish a relationship built on mutual respect

MEDDIC

MEDDIC is an acronym for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion.

Main Points

• Define the key metrics important to the prospect

• Identify the person with budget authority

• Understand the criteria used in making the decision

• Know the steps involved in the decision-making process

• Discover the prospect's pain points

• Find an internal advocate within the prospect's organization

SPIN Selling

Is a consultative sales methodology focused on uncovering and addressing the prospect's specific situation.

Main Points

• Understand the prospect's current circumstances

• Identify the prospect's pain points or challenges

• Explore the consequences and impacts of the problems

• Discover how your solution can solve these problems

Solution Selling

Focuses on identifying and solving the prospect's specific problems.

Main Points

• Understand the customer's unique challenges

• Develop a solution that addresses these challenges

• Collaborate with various stakeholders to ensure the solution's successful implementation

Conclusion

These methodologies are some of the most historically popular selling methodologies. It’s unlikely that any methodology will cover all of your training and development needs. Each one has advantages and disadvantages. Selecting the sales methodology depends on your specific industry, target audience, and the complexity of your offering. Regardless of the methodology chosen, the key to successful selling lies in understanding customer needs, building trust, and providing real value. As with anything that represents your company, your selling approach should only enhance your brand.