Consultative Selling Can Lead to Strategic Relationships

Many times, what is best for the client and the salesperson is a transaction. But when faced with the challenge of sustaining and improving success in asset management that is experiencing increasing competition and slowing growth, many companies adopt a “consultative” sales approach to help them gain 'an edge.' These companies invest in training their sales forces in consultative selling approaches (e.g. Miller-Heiman, Challenger (CEB), Helping Clients Succeed (Covey), Solution Selling™, Richardson, etc.) but the most successful implementations of consultative selling require more than training—they start with a look at how the various elements of the sales strategy need to change in order to fully embrace an effective yet efficient consultative selling model. The figure above provides a quick view on the level of resources it takes to build a strategic relationship that creates value for the client.