Sales training is one of the biggest focus areas of many talent development and sales enablement
strategies. Sales training includes methodology, selling skills, process, sales management, tools, frameworks, and product knowledge. However, while these competencies are important, there's an emerging and critical need to prioritize Business Acumen training to the top of the list.
During the past year, Advantexe has designed, developed, and delivered major sales training engagements for some of the most renowned sales teams on the planet. All of our engagements include a significant component of Business Acumen for Sales Professionals that provides the foundational skills to understand their customers’ business better and to also understand how their own companies generate profitable revenue.
Based on our experiences, we are pleased to share five essential tips on why and how Business Acumen can significantly enhance your sales teams' effectiveness:
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Supports Methodology Training - Business Acumen is the ideal support for traditional sales methodology training. Whether your sales approach is a Consultative or Challenger methodology, Business Acumen builds upon this foundation by providing sales professionals with a deeper understanding of the systems of business, enabling them to fully leverage your chosen selling framework.
- Helps to Better Understand Your Customer’s Business - Business Acumen training provides salespeople with the insights needed to identify their customers' business strategies, current financial situations, and metrics of success. This helps to position the salesperson as a valuable trusted advisor who can help the client address their issues and opportunities.
- Builds Trust and Credibility - With enhanced business acumen skills, sales professionals can read and interpret their customers' financial statements. This allows them to pose relevant questions within the context of your customer's business. Customers are more likely to trust a salesperson who understands their financial situation and can speak to how a product or service can benefit them financially.
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Positions Value from the Business Perspective - Business Acumen helps sales teams to articulate and emphasize the value your products and services bring to your customer's business. They can discuss and demonstrate how your solution can positively impact your customer’s business performance such as driving revenue, expense management, and achieving higher profitability.
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Effectively Differentiates Your Products and Services - To stand out in today’s highly competitive markets, sales professionals must effectively differentiate their products and services. Business Acumen gives them the skills to better understand your customer's specific business goals and challenges. This helps demonstrate an understanding of the customer’s business and position your product or service in terms of actual business metrics, rather than talking about its features.
In summary, understanding a client's business is essential for sales professionals because it allows them to offer tailored solutions, build trust, communicate effectively, and position themselves as trusted advisors. It ultimately leads to stronger customer relationships and increased sales success.
