One of the highlights of the OAAA 2019 show was listening to Park Outdoor’s Rick Steele talk about sales. Steele says curiousity based selling uncovers larger sales opportunities than a transaction selling. Here are some quotes.
On transaction selling
Transaction selling views everything as a one-off transaction. It’s answering the immediate question. It’s an annuity mindset. We are happy to get a contract. We have no idea what success for the campaign will mean in terms of measurement or creative. Transaction selling suppresses rate growth and most often results in a shall relationship with the client. Don’t allow “institutional knowledge” to undermine you curiousity.
On curiousity-based selling
We have a phrase at Park Outdoor: It’s the why, not the what. At its core, we want to enter conversations with the intention of talking about what we don’t know instead of what we know.
When you’re asked if you have inventory in a market don’t answer yes or no, answer “why is that important.” You want to discuss the entire opportunity. Here are the questions to ask
- Why is area X important?
- What’s the timeline?
- How big is the opportunity? What are you trying to accomplish?
- For what product?
- What are margins? Help me understand the economics of your business.
- Why do customers buy? Help me understand the consumers mindset. How do we engage with them? What will trigger action on their part?
On becoming a product expert
Ask questions about a company’s product. Who buys it? What are margins? Learn and become a category expert. This will be helpful when you talk to the next potential client in the same industry.
Curiousity based selling starts with recruiting:
I’d rather recruit people that are interested and curious than people who brag about what they own.
On taking the long-term view
We try to look long term because our billboards aren’t going anywhere.
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