3 - Selling Process

7/31/2019 3 - Selling Process

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The Selling Process : 8 Steps

Prospecting

Approaching

Probing, NeedIdentification

ProductPresentation

Objection

Handling

Closing

Post SalesFeedback Call

Qualifying &Preparing


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Prospecting

Successful salespeople develop a strategy that involvesan organized and active system to generate sales leadsand qualify potential buyers.

Networking an active process of acquiring new contactsand cultivating existing ones.

3 Step strategy

Define Target Market

Generate Sales Lead Qualify Prospect


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Identifying Prospects

Sources

Present Customer

Former Customers

Cold Calling (knocking the door)

Spotters(sales trainee, internship)

Directories & Mailing List(telephone, trade associations, professional associations)

Referrals (satisfied customers, center of influence, endless

chain

Personal Contacts

Trade Shows

Direct Mailing


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Sales Lead

Lead Management

Program to generate better leads and more prospectinformation

Telemarketing and direct mail to generate sales lead

20% of all sales lead and inquiries through advertising,promotion, trade shows & direct mail will result in saleswith in six months.


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Qualifying Prospects

Avoid selling to people who can not make abuying decision

MAN MAD Approach

Money Does potential homeowner have enough moneyto buy a new house or department manager has enoughbudget for new office furniture.

Authority Has authority to buy

Need or Desire Does the prospect want or need the goodor service


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Preparing

Pre-Approach - the salesperson tries to gather additionalinformation about the prospect & his/her needs

Who is the customer - Some question

Who is actual purchase decision maker Who can influence the decision

Who is responsible for using good or service

With whom the salesperson must maintain a continuingfavorable relationship.

W/S Retail selling One or two decision makers

Medical Equipment Purchase Committee

Industrial SellingDifferent Persons/Departments, Gatekeeperssecretaries, admin assistants & receptionists, Economic Buyers

CEOs - Users & Technical Personnel


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Preparing

The salesperson tries to gather as many additionalinformation about the prospect, as he can

Personal Information Required

Family background, hobbies, membership of clubs &professional organizations, credit rating, product line,industry reputation

Some companies have developed standardquestionnaire to compile relevant information about

the customers


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Call Planning

Involves a specific sequence of activities before thesales interview takes place


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Other planning preparation requires knowledge

Product

Company

Industry

Competition

Prices

Call Planning


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Specifying the objectives

Salesperson MUST establish objective of the call

Why am I going on this interview ?

What am I trying to make happen ?

What am I going to recommend ? (if customer agrees)

Developing Strategy

salesperson MUST develop a strategy or plan of

actions to achieve his sales objectives

Make an appointment

The most professional way

Call Planning


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Specific

MeasurableAchievable, yet challenging

Realistic

Time bound

SMART objectives


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SpecificSets a clear direction, where you want to go

MeasurableYou can compare your achievement versus

planned

Achievable- (yet challenging) - Keeps you motivated, youcan do it

RealisticMakes you confident, you have some basis,grounds

Time bound Makes you organized, disciplined, you haveto finish the task/job with in time limit

SMART objectives


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Approach

Approach:

salesperson asks buyer to commit to a meeting Opening statement must get buyers attention


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Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.1-16Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.1-16

Presentation

First Impression


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First Impression

Wear neat clean, conservative clothes

Be clean and carefully groomed

Know the prospects name and

pronounce it correctly Be alert and pleasant

Let the prospect offer to shake hands

Forget about your self and concentrateon the prospect

Avoid smoking or chewing gum

Switch off your mobile


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FACTS THAT COUNT

20 FIRST STEPS

20 INCHES OF FACE

20 FIRST WORDS

20 FIRST SECONDS

Well Dressed Confident

Show PositiveExpressions, Smile,

Eye Contact

Be Polite, IntroduceYourself, your companyTalk Intelligently

Put Customer AT EASEThank him for the time,as well as using yourProducts / Services


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Probing

The key to plan a sales call and successfully completinga sales is to identify the customer dominant buyingmotives

To identify need

Ask questions

WHY ?

Open ended questions

Leading questions

Close ended questions


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Presentation

salesperson describes the product and how it meets buyersneeds. Applies feature benefit strategy

FEATURE CHARACTERISTIC OF A PRODUCTProvides/demonstrates evidence

BENEFIT NEED SATISFACTION CUSTOMER GETS

Gets agreement


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Presentation

Presentation:salesperson describes the product and how it meets buyersneeds

Feature Evidence

Benefit Agreement


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Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.1-22

Presentation

What is required to make aneffective presentation?


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Presentation

Knowledge

- Company

- Customer

- Industry

- Products (Product expert)

- Competition

- Prices


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Presentation Techniques

During presentation

- Eye contact

- Sales story

- Visual aid

- Samples

- Examples

- Guarantees

- Testimonials (Reports from satisfied customers)

- Demonstration


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Presentation

During presentation

- Body language

- Third party reference

- Ask questions

- Listen carefully

- Reply in a suitable manner


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Buying Signal

VERBAL

-Price, availability, delivery schedule

NON VERBAL

-Facial expressions, physical action,gesture, nodding head up & down


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Handling Objections

Sales resistance Actions or statement by aprospect, customer, that postpone, hinderor prevent the completion of a sales

Reasons a buyer offers to not buyyour product

Outward expressions of prospect,customers doubts or negative feelingabout a sales proposal or product


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Handling Objections

Objections

Reasons a buyer offers to not buyyour product

Helpful to identify customers need

Can occur at any time

Salesperson should find out root of

concern and resolve it


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Type of Objections

Realistic

Un Realistic


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Type of Objections

Timing

- Your proposal is ok but I have to discuss itwith my partner, give me some time

- (SR should mention the advantages of the decisionright now)

Price (Prospects Financial Constrains)

- I think I can get a better deal elsewhere or X

company is offering more economical price- (additional benefits, durability, longer warranty, after

sales service, convenience of repair)


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Type of Objections

Source

- Your company salesperson misled me aboutyour products performance record or I haveheard that your company has a poor deliveryrecord

- (SR should not be defensive or argumentative)

Competition

- I am doing business with abc company for manyyears and I like Saleem who has done good jobfor us. Why should I change?

- (ask questions, identify any dissatisfaction with supplier,emphasis competitive edge, guaranty warranty period,

after sales service )


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Handling Objections

Steps, Techniques, Methods

Keep yourself cool

Listen carefully & show patience

Dont interrupt

Ask questions

Use boomerang technique


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Handling Objections

Steps, Techniques, Methods

Convert objection into question

Use yes & but technique Boomerang method

(I cant afford insurance policy)

Reply in a suitable way

Dont repeat your reply/answer


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Handling Objections

Prospectstats

objection

Listencarefully

Askquestion

Respondto the

objection

Confirmyour

response


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Customer Objection - Reasons

Why ?

Poor sales presentation

Lack of knowledge Customer need, not addressed

Needs more information

Previous experience Salesmans appearance


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Closing the Sale

Close

When salesperson asks buyer for the order/business

When to close Buying signals

Good close

Reinforce decision to buy

Confirm implementation schedule

Thank the buyer

Ask for referral


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Closing Techniques

Direct Close

(Need identified, benefits thoroughly explained andasking for decision)

Trial order close Special offer (gift) close

Alternative proposal close

Assumption close Action close


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Closing Techniques

One more eye close

(SR restates the benefits & asks for order)

Balance sheet close (SR & prospect list the reason for acting now against

delaying)


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Implementation/Follow-Up

Follow-Up

After delivery, ensure that the customerhas good experience with product

Training, service, after sales servicecontract, annual maintenance contract,policies and procedures

Helps to build long term relations

To remove any post purchase doubt


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Customer Relations

Handle complaints promptly &pleasantly

Maintain contact with customers

Keep serving the customer

Show appreciation


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Self Analysis

Were the planned sales objectivesachieved?

What could I have done better?

What did I learn from this call that willcontribute to my future success?


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The Selling Process : 8 Steps

Prospecting

Approaching

Probing, NeedIdentification

ProductPresentation

ObjectionHandling

Closing

Post SalesFeedback Call

Qualifying &Preparing


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Selling Approaches

Enterprise

Business-to-business (B2B) concept

Based on not only person-to-person relationshipsbut on company-to-company relationships

Identify and solve a clients problems

Also called needs-satisfaction selling orproblem/solution selling

Problem Solvingor Consultative

Affiliative

Transactional

Based on the friendship between the salespersonand the individual buyer

Finish sale as quickly and as easily as possible

Key to success is making as many calls aspossible to as many people as possible

3 - Selling Process

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