Which type of sale is your company working on?
If you think that you should use all sales techniques to win over your clients and be advantageously competitive in the market, that isn’t so smart. For some specific businesses and industry, it is essential to consider one to a few certain sales approaches.
In this article, you will learn 11 most common types of sales, characteristics and examples. There are some you might never notice before. If you find these sales techniques blow your mind, don’t worry, we also provide a comprehensive guide to help you choose and adopt the right type of sale for your company’s success.
Table of Contents
- B2C sales – Type of sale
- B2B sales – Type of sale
- Enterprise sales – Type of sale
- Account-based sales – Type of sale
- Direct sales – Type of sale
- Consultative sales – Type of sale
- Transactional sales – Type of sale
- Inbound sales vs Outbound sales – Type of sale
- Subscription sales – Type of sale
- Channel sales – Type of sale
- How to focus on the right type of sale
- Final Thoughts
B2C Sales – Type of Sale
What is B2C sales? B2C sales, also known as Business-to-Consumer sales, refer to the process of selling products or services directly to individual customers for personal use.
This type of sale typically focuses on high volume and low-value transactions, where the consumer purchases products or services for personal use.
One of the most popular examples of a company that engages in B2C sales is Amazon. As the world’s largest online retailer, Amazon offers a vast array of products, at the same time customize their recommendations for each customer based on their purchase history, search queries, and browsing behavior. This successful approach has helped Amazon become one of the most successful B2C companies globally, with a market capitalization exceeded $1.5 trillion as of 2021.
B2B Sales – Type of Sale
On the contrary, B2B sales refers to the deals between companies, rather than individual consumers. In B2B sales, the focus is on building long-term relationships. It also may follow complex negotiations, customized products, and long sales cycles,
A good B2B company example is Salesforce, which is a leading provider of customer relationship management (CRM) software. It offers a range of products and services specifically designed for B2B sales, such as lead management, opportunity tracking, and sales forecasting. With its prioritization on providing customized solutions to businesses, Salesforce has emerged as one of the most prosperous B2B enterprises worldwide, boasting a market capitalization exceeding $200 billion in 2021.
Enterprise Sales – Type of Sale
Quite similar to B2B sales, but Enterprise Sales has a bit different sales approach as it primarily sells products or services to corporations that have complicated buying processes and require specialized solutions. The sales process in enterprise sales can be lengthy and complex, involving multiple stakeholders, detailed proposals, and negotiations.
The success of enterprise sales relies heavily on the ability of the sales team to establish trust and credibility with the enterprise’s decision-makers and provide a solution that meets their unique needs.
Account-based Sales – Type of Sale
Account-based sales, also known as ABS, is a strategic approach to selling that focuses on targeting and engaging specific high-value accounts rather than individual customers. In account-based sales, the sales team identifies a set of key accounts that fit the ideal customer profile and develops a personalized sales strategy for each account.
To win over the deals, the key account managment team has to customize the strategy which may include personalized messaging, targeted advertising, and customized proposals that address the unique needs of each account.
Direct Sales – Type of Sale
If your company wants to sell products or services directly to customers without the use of intermediaries such as retailers or wholesalers, Direct sales can be an appropriate choice. Direct sales can occur through various channels, including door-to-door sales, telemarketing, and online sales.
This type of sale can be particularly effective for demanding customers who require personalized attention and customized solutions. In direct sales, the sales team can provide one-on-one attention to the customer, answer their questions, and address any concerns or objections they may have. This approach can help build trust and credibility with the customer, which can lead to increased sales and customer loyalty.
Amway, Avon, Herbalife, Tupperware, and more are some well-known examples for having been using direct sales as a primary strategy for many years and have built successful businesses based on this approach.
Consultative Sales – Type of Sale
For certain types of industry, such as banking, healthcare, financial services, and B2B sales, consultative sales is among the most crucial sales approaches.
This method involves the salesperson acting as a consultant to the customer, asking questions, listening to their needs, and providing customized solutions.
The Big 4 accounting and consulting firms like Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and Klynveld Peat Marwick Goerdeler (KPMG), can be excellent references.
Transactional Sales – Type of Sale
Transactional sales are best suited for companies or markets where the products or services offered are relatively low-cost, standardized, and require little to no customization.
Examples of markets that are likely to succeed with transactional sales include e-commerce, retail, fast-food chains, and consumer electronics. In these markets, the transactional sales approach is used to sell products quickly and efficiently to a large number of customers, without the need for in-depth consultation or customization.
The focus is on making the sale as fast and efficient as possible, often through online channels or in-store purchases. These markets rely heavily on volume-based sales, so transactional sales are an essential strategy for maintaining profitability.
Inbound Sales vs Outbound Sales – Type of Sale
Inbound sales and outbound sales are two distinct types of sales approaches that can work together to improve overall sales performance.
Inbound sales focus on attracting customers to the company through content marketing, social media, and search engine optimization. Meanwhile, Outbound sales involve reaching out to potential customers directly through phone calls, emails, or direct mail.
In some cases, inbound sales can be a solution for the failure of outbound sales. If outbound sales are not generating enough leads or sales, the company can shift its focus to inbound sales to attract customers who are already interested in the product or service. This can help improve the quality of leads and reduce the cost of sales.
Subscription Sales – Type of Sale
The idea of offering products or services on a recurring basis in exchange for a subscription fee has been around for many years, we all know its name, Subscription-based Sales. For example, cable and internet service providers have also been using subscription-based sales models for many years.
This model is commonly used by various industries, including software, entertainment, media, and food delivery services. It is becoming increasingly popular due to their ability to provide customers with regular access to products or services while providing businesses with a reliable and predictable source of revenue.
Channel Sales – Type of Sale
How much do you know about Channel sales? It refers to a sales model in which a company sells its products or services through third-party partners, such as distributors, resellers, or dealers.
The importance of channel sales can be seen in the success of companies like Microsoft and Cisco, which rely heavily on channel partners to sell their products and services.
It totally is a win-win strategy. Businesses can access new markets and customer segments that they may not be able to reach through direct sales. In meanwhile, the partners can have a new revenue stream and the opportunity to expand their offerings to their own customers.
How To Focus On The Right Type Of Sale
What do you look for in each type of sale? When choosing a sales strategy for your company, it’s important to consider a few key factors to ensure success in the highly competitive market. Here are some tips to help you select and implement the right type of sale:
Product or Service
Consider the complexity of your product or service, the size of the market, and the typical buying behavior of your target audience to determine the best sales strategy.
Related
Sales Team
Evaluate the skill sets and experience of your sales team to determine which sales strategy will work best for your organization.
Give time for your sales team to learn new skills or update their knowledge through customized training. It can be courses from training providers or from your own company.
Marketing and Branding
Assess how your marketing and branding efforts can support your chosen sales strategy. Certain types of sales may require more focused marketing efforts to drive demand and attract the right type of customer.
Customer Relationships
Determine the importance of customer relationships to your business and choose a sales strategy that enables you to build and maintain strong relationships with your customers. Use CRM softwares if it is necessary.
Resources and Support
Consider the resources and support that your company can provide to ensure success with your chosen sales strategy, including sales training, marketing collateral, and ongoing support for your sales team and channel partners.
Final Thoughts
Focusing on the right type of sale strategy is crucial for any company to succeed in today’s highly competitive market. Make sure you fully understand each type of sale so that your company won’t waste money and time.
If you’re looking for a powerful training support tool to help your sales team succeed, check out AhaSlides. With its user-friendly interface, interactive features, and real-time feedback, AhaSlides is an effective way to engage your sales team and help them improve their skills and knowledge. Try it out today and see the difference it can make for your sales team!
Ref: Forbes
