For Account Managers there can be a conflict between the need to ‘sell’ product and building long term enduring relationships with RIs, i.e. be consultative. Indeed in our experience when Account Managers think that they are in ‘sell’ mode they are often in ‘tell’ mode – the classic product dump. We call ‘selling’ mode Transactional Sales which is based around selling to ‘needs’.
We believe that there is no conflict between selling and being consultative. They are two complimentary strategies that the Account Manager should deploy as appropriate for each individual IFA firm/RI. Typically, an Account Manager will be consultative to develop the account’s business and in doing so will create the opportunities to be transactional i.e. sell to the RI’s needs.
Transactional and Consultative Sales Strategies
Transactional Sales |
Consultative Sales |
Product selling |
Business partnership |
Shorter process |
Potentially a longer process |
Selling against the competition |
Differentiation from the competition |
Product and price are the key differentiators |
Relationship is the key differentiator |
Face to face and telephony |
Face to face and telephony |
|
|
| |
Momenta b2b provide framework ‘Sales Strategies’, which include:
- An easily understood structure for
- Fact finding appointments
- Transactional sales appointments
- Consultative sales process
- Suggested pre and post appointment activity
- Defined best practice guidelines
- An easy to use set of tools for Sales Managers to measure performance
- Training modules to support the implementation of Sales Strategies in a practical and ‘real world manner’. This includes company and role specific role plays with practicing IFAs
We will work in consultation with you to tailor these processes and training to meet the exact requirements of your business. |
|
