Revolutionizing Retail: My Fresh Approach to Sales using Consultative Selling

Jan 19

Author: Rachel Morgan
January 19, 2024

Retail as we know it is changing. Shopping habits are evolving and so is the experience of buying. Traditional selling methods fall short in meeting the demands of modern consumers who seek a personalized, engaging experience. This shift demonstrates the importance of differentiation and customer retention in order to not only attract, but also retain customers.

As a luxury retail sales coach, my response to this ever evolving retail landscape is simple yet impactful - I advocate and train in consultative selling techniques.

Why? Because in 2024, retail trends are showing a need to prioritize personalization, elevate customer experience, and build community. I’ve also witnessed firsthand from managing multiple million dollar retail stores myself, that implementing consultative selling principles will positively influence your sales (and future ones). Plus, it just makes selling feel more fun, more engaging, and more authentic.

Sales should never be reduced to mere transactions and numbers. It’s about forging personal connections with customers and leaving a lasting impression. Customers care about the experience of doing business with you. So we want to make sure we give them the best first impression and customer experience.

In the desire to stand out and differentiate yourself, I firmly believe that consultative selling is the key. Let’s break it down.

A CUSTOMER-CENTRIC MINDSET

Meet Emily, a shopper on a mission for the perfect pair of shoes for an upcoming wedding. In scenario one, Emily walks into a store greeted by Olivia who shares generic promotions of “X is on sale for 20% off” without even knowing what Emily’s intent to purchase is. Emily replies with a quick, “Thank you, I’m just looking” and continues to browse around the store.

The interaction lacks warmth and connection from Olivia, making it hard to build any kind of relationship opportunity or leave a positive first impression. And this will likely influence not just sales, but also conversion rates.

Sure enough, Emily explores the store on her own, leaves empty handed and unsatisfied that she didn’t find what she was looking for, and hears a distant “Thanks for coming in!” from Olivia as she leaves.

Now, let’s picture a different scenario.

Emily walks into the same store, greeted with a warm smile, eye-contact, and a genuine, “What brings you in today?” by Olivia. Emily shares waht she is looking for, which prompts Olivia to dive into further open-ended questions to better understand Emily’s needs and plans. Guided by this insight, Olivia seamlessly recommends shoes tailored to Emily’s preferences.

Not only does Olivia recommend, she also takes her over, shows her, and let’s her know why she chose a certain pair for her.

The result? Emily leaves thrilled, having found the perfect pair with ease.

This is consultative selling at its finest.

Consultative selling excels in building trust and prioritizing the customer’s experience because it’s based on agile thinking, active listening, and asking the right questions, making a world of difference in conversion rates and overall sales. Plus, it can also influence buyers remorse, customer perception, and word-of-mouth referrals. All things that directly influence sales (and thus future sales).

ELEVATING PRODUCT KNOWLEDGE

A consultative approach demands not only a customer-first mentality, but also an in-depth knowledge of the products and services being offered and their benefits to the customer. It’s not enough to just know your product/service specifications, you have to know why and how it benefits your customers needs, too.

Imagine the same sales associate, Olivia, not just knowing what shoes to show Emily, but also articulating why a specific pair suits her needs, and then being able to communicate this to Emily effectively.

Knowing the “why” behind a product or service transforms a simple recommendation into a compelling proposition for the customer. It keeps them interested and psychologically helps someone feel more seen, valued, and heard.

Customers expect sales professionals to be experts guiding them through decisions. When you share your expertise effectively, you create a positive customer experience where clients feel seen and understood as described above. Customers expect you to know your product inside and and out, because you work around it! They want you to guide them on the best choice available to them.

According to Esteban Kolksky, 72% of customers are likely to share a positive experience with six or more people. On the other hand, if a customer is not happy, 13% of them will share their experience with 15 or more. This demonstrates the power of word-of-mouth in shaping future sales.

The goal is to make sure customers leave happy and satisfied and want to actively share the positive experience with everyone they know.

BUILDING LASTING CONNECTIONS

Consultative selling also places a strong emphasis on building and maintaining customer relationships.

When we consider what it takes to really build and maintain a relationship, it comes down to how often we keep in contact and getting to know someone. Think about your friendships and relationships, in order to build and maintain them, it requires you to reach out, inquire, and get to know someone.

In the retail industry, that means how often we follow-up and keep in contact with our customers.

Imagine sending a handwritten thank you card to customers, celebrating their achievements, and expressing gratitude to them. These actions, grounded in a consultative selling approach, creates a lasting connection and memorable experience. Who doesn’t love to hear thank you or snail mail? It’s the little things that can go such a long way!

That means, in terms of retail business, follow up is far more than promotional messages, email marketing sequences, and social media. It encompasses a range of strategies from celebrating customer achievements to expressing gratitude and even resolving conflict.

We all have that one friend who only reaches out when they need something. And the result? You likely stop answering. We don’t want that to happen with your customers.

Now imagine if after Emily purchased the shoes, Olivia wrote her a handwritten thank you card for coming in and purchasing, and contacted Emily a few days after to find out how her upcoming event went and how she’s enjoying her shoes. That’s an experience that is hard to come by. And if done right, you can really build a customer for life.

OBJECTION HANDLING IS A BUYING SIGNAL

In consultative selling, objection aren’t seen as roadblocks, they’re seen as buying signals. This can be a massive shift in thinking for many in sales yet a powerful one. When you recognize that an objection is natural part of the sales process, and not personally made towards you (pst - it’s towards the product and/or service), addressing concerns becomes an opportunity to help guide customers toward positive decisions.

Consider if Emily’s concerns had been about sinking into grass or discomfort while wearing a particular pair of shoes. A consultative sales approach involves validating and reassuring customers by helping them find solutions. By explaining product benefits, offering solutions, and providing suggestions, objections become an opportunity to educate and guide.

Customers tend to love the extra knowledge in order to be successful post purchase. It’s a unique experience that can make all the difference in how they feel towards your product, service, and even company.

For example, Olivia could use this opportunity to educate Emily how the shoes design actually prevents pain, and that they sell an additional product that they can put on shoes to help with “sinking into the grass.” Handling objections than becomes a win-win for everyone.

Customers appreciate when you think ahead for them and offer solutions that educate them on the process. We want our customers to be successful post-purchase,

CONCLUSION

Consultative selling isn’t just a philosophy; it’s about crafting positive experiences that transcend financial exchanges. It sees the customer as more than just a transaction; it’s an opportunity for an interaction. This type of sales approach has the power to revolutionize your sales process, prioritizing customer relationships, personalization, and overall customer satisfaction.

Adopting consultative selling is not just a strategy; it’s an invitation to reimagine the sales process!