CHAMP methodology stands for CHallenges, Authority, Money, and Prioritization.
Although it looks similar to BANT (each CHAMP stage is reflected in a BANT stage too), there are two crucial differences.
Let’s look into CHAMP sales methodology in detail:
1. Challenges precede the budget
You must focus on challenges first. By doing so you qualify your prospect more accurately. You are also able to discover unique opportunities for countering their pain points with your solution.
Only after the prospect understands the benefit of your solution, the budget becomes important.
2. Timing is only part of the prioritization
Yes, understanding the timeline of your prospect is important. But first, you must completely understand their priorities. This allows you to help them realize where your solution fits in their business process.
Now, the CHAMP framework
Let’s talk a bit about CHAMP, step by step.
An emotionally intelligent human sees challenges as opportunities rather than roadblocks. A quality every star sales rep must have!
By using the CHAMP framework, your sales reps will be more focused on helping prospects understand their challenges.
Once a challenge gets identified, an opportunity gets created. Such an approach helps salespeople quickly qualify their leads. Some questions to ask during this phase:
- “What are the challenges your business is facing?”
- “Are there any pressing problems that require a faster solution?”
- “For how long have you been experiencing this problem?”
- “What led you to look for a solution now?”
- “What would your operations look like if this problem were solved today?”
- “What are the consequences of not solving these problems?”
While using the CHAMP framework, make sure you establish contact with an authoritative figure. Someone who will have the final say in making the purchase.
Finding out that the lead you nurtured needs to further notify the buying authority seems frustrating.
Yet, don’t ignore these contacts completely. Even though they might not be able to make the purchase, they will help you get in touch with the authority early into the process.
Once you reach the Authority, ask these questions:
- “What’s the process of making a purchase decision, specifically for products/services like ours?”
- “Who else needs to be involved in this process?”
- “What are your major concerns, and how can we address them?”
- “Is a group call okay with you, or should I schedule a call with every involved person alternatively?”
Money is always a sensitive subject in sales. Sales reps can use the CHAMP framework for easing prospects into the part where purchasing patterns are discussed.
Using such an approach allows sales professionals to gauge the prospect’s challenges. They demonstrate how their product or service is the perfect solution for the prospects.
In the money stage, sales reps try to uncover the available budget. This also is a great time to demonstrate your solution’s ROI.
Have these questions ready with you when you are entering:
- “Does your company have an allocated budget for a solution such as ours?”
- “Is there a plan to make an investment using that budget?”
- “Who is the approving authority?”
- “Is there any process to go beyond the allocated budget?”
Prioritization covers the timeline. Yet, it focuses the timing in relation to other priorities a company might have.
When you are making an effort of moving a prospect through your sales process, it is important to know if there are other company priorities.
It helps you understand how to pitch your solution by matching the timeline of their priorities.
When you get to the Prioritization stage keep these questions into account for preparing yourself:
- “How soon would you like to see this problem get solved?”
- “Is it compromising any of your timeline or priorities?”
- “Do you have a solution in place? When does it expire?”
- “How soon would you like to implement this solution?”
- “Are you in the process of looking for a solution from someone else?”
- “How soon do you think you will be able to make this decision?”
Our conclusion: All sales reps deserve to be a CHAMP!
We think you are asking this question to yourself right now, “Is CHAMP always the best sales methodology?”
Yes, there are many sales methodologies to choose from!
CHAMP methodology is a great option for many sales teams.
The methodology also relies on a Champion! He/she is your main point of contact in the company you are pitching your solution to.
He goes back and forth between a sales rep and his bosses to help you close the deal.
Closing sales in a successful manner helps sales reps earn the respect of their peers and boss.
Add the CHAMP sales framework in your sales arsenal. It works well with goal-hungry sales reps who can switch their role to a consultative.
Read more about these 7 sales methodologies and see which one fits your sales arsenal. Apart from selecting a sales methodology, you need to have a smart sales solution with you.
When you are moving the prospects along the sales pipeline, this intelligent system will help you measure the efforts (or the lack of it), and allow you to take measures to close the deal.
The modern CRM system is heavily driven by automation. Automation allows you to create more selling time in your daily, busy schedule. So, try one such sales intelligence software for 15 days and see how it can add magic to your entire process.
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A writer with an uncommon funny bone and a knack for perfection, Saptarshi loves to write about anything that can be of help to businesses, people, and dogs! A true human at heart, he likes to spend most of his time researching the internet to find ways technology is influencing our daily life (positively).