Selling a product isn’t all about just the product or the profit margin, it goes way beyond that. And when companies fail to see the obvious, they start losing ground in the market and eventually suffer massive losses. But if they manage to see the bigger picture and actually try to understand what the customer needs, the experience changes drastically. Because now you are making connections rather than a new entry in the book. One of them always sticks out the most, and it’s the Outcome-based Selling.

Outcome based selling simply means to focus on what kind of outcome the customer wants rather than what the company wishes for. It challenges the traditional ways where it was all about highlighting the product as fast as possible before the customer ends the call. Despite all that, it shows big promises, and if you want to achieve it too, then simply follow these steps:

Step 1: Understand the Customer

Understanding the customer is always the first step towards establishing outcome-based selling. It usually begins with interactive questions where feedback is gained. And then one of those feedback aims at what the customer needs or is looking for in his life. It works in professional calls too against possible clients where they are asked what their expectations are. In the end, the outcome is identified and then the strategy begins.

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Step 2: Quantify the Key Business Outcome

Now that the outcome of the customer has been identified, start quantifying it in a way that compliments the product lineup. You can use tangible metrics or compare a different customer with the same outcome as his. This will feel more convincing and allow the consumer to consume more data which is curated just for him.

Step 3: The Value Proposition

Now you have all you need to create a value proposition tailored according to the outcome of the customer. Go all out here and start introducing products that match the case. Even compare it with other competitors and explain why the value proposition here is best. This will make it clear that you guys don’t back down from making bold moves. 

Step 4: Solution and The Roadmap

This is the end of the road where a final roadmap is created and the customer starts his journey with it. But this doesn’t mean that the outcome has been achieved. So now you have to make sure that the solution is working and eventually the outcome has been reached.

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Outcome-based selling is a new way of managing sales. It takes relationship building to the next level and aims to take it even higher over time. It also reduces the objections from the customer since the needs are clarified first before bombarding them with deals. Anyways, outcome-based selling is the best way of doing things from every corner. So what are you waiting for?

Frequently Asked Questions

Q1. What is the biggest difference between outcome-based selling and the traditional one?

Ans. The biggest difference would be the fundamental way of doing things. Especially the approach where the traditional way focuses on the product itself and its features. But the outcome-based focuses on the customer and how the product can solve their issues in real time.

Q2. Is outcome-based selling only for large enterprises?

Ans. No, it works for companies of all shapes and sizes. But the scale at which its effects are shown, that may definitely vary. For example, a big company may save 30% time dealing with objection handling while the same thing is down by 15% on smaller ones. Nonetheless, it makes a massive difference in the long run and those effects are 100% worth it.

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Q3. What if the benefits I get are intangible?

Ans. That’s exactly what will happen at first. You will see customers being happy, but that won’t convert into more or higher buying decisions. But what it ends up creating is a wave of happy userbase that recommend our product out of sheer goodwill, and not because they were asked to. As they say, there is nothing better than a happy customer. Over time it will improve the graph and show real gains that won’t go down anytime soon.

Q4. What if a customer has no idea what its desired outcome is?

Ans. That is the perfect opportunity for you to act as an adviser and create deep bonds. Ask them questions about their dream, risk, expectations and so on. It will unfold new scenarios where  you can show your true strength and quantify the outcome for them. 

Q5. How should I know that the outcome has been achieved?

Ans. It is crucial to implement some sort of KPI to regularly monitor if the product is working. Use methods like feedback loop and get propers after the sales communications channel opens. And once you are certain that the outcome has been reached from the side of the customer, that’s your cue.

Sources:

1. The Secret of Outcome-Based Selling? Pitch the Future, Not a Product

2. Outcome-Based Selling: An Overview + Practical Tips

3. Unlock Sales Success with Outcome-Based Selling | Nutshell

4. Best Outcome-Based Selling Guide | Sales Outcomes | Pipedrive

5. Outcome-Based Selling: Focus on Results | Mailchimp