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Target selling the breakthrough approach of today
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Transcript of Target selling the breakthrough approach of today
1(c) copyright 2010 Dr
Wilfred Monteirowww.synergymanager.n
et
T A R G E TS E L L I N G ©
What is Selling ?
Selling is a process
of satisfying customer NEEDS
with product BENEFITS
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
Selling is a process
of satisfying customer NEEDS
with product BENEFITS
C o m p a r i n g V a r i o u sG o - t o - M a r k e t A l t e r n a t i v e s
Advertising
Direct Mail
Internet
Telemarketing
Low Costper Exposure
Channel Partners
Social Media
Retailing
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
PERSONAL Selling
Effectiveness
Efficiency
High Revenueper Exposure
Channel PartnersMultilevel Mktg
Surrogate Mktg
Retailing
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
Examples of Personal Selling
Retail selling
Field selling
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
Telemarketing
Inside selling
• 12 million people are engaged in personalselling in the United States
• Represents about 10% of the work force
PostPost--transaction:transaction:•• Reminder andReminder and
reassurancereassurance
PostPost--transaction:transaction:•• Reminder andReminder and
reassurancereassurance
Pre-transaction: Create recognition andCreate recognition and
info understandinginfo understanding
Pre-transaction: Create recognition andCreate recognition and
info understandinginfo understanding
Relative Importance ofAdvertising and Personal Selling
AdvertisingAdvertising
PersonalPersonalsellingselling
PostPost--transaction:transaction:•• Reminder andReminder and
reassurancereassurance
PostPost--transaction:transaction:•• Reminder andReminder and
reassurancereassurance
AdvertisingAdvertisingPersonalPersonalsellingselling
Transaction:Transaction: PersuasionPersuasionTransaction:Transaction: PersuasionPersuasion
Pre-transaction: Create recognition andCreate recognition and
info understandinginfo understanding
AdvertisingAdvertising
PersonalPersonalsellingselling
6(c) copyright 2010 Dr Wilfred Monteiro
www.synergymanager.net
Characteristics of Personal Selling
Flexibility• Adapt to situations• Engage in dialog
Can not reach massaudience Expensive per
contact Numerous calls
needed to generatesale Labor intensive
ConPro
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
BuildsRelationships
• Long term• Assure buyers receive
appropriate services• Solves customer’s problems
Can not reach massaudience Expensive per
contact Numerous calls
needed to generatesale Labor intensive
ORDERGETTERS
Currentcustomers
Newcustomers
ORDERTAKERS
Inside Order Takers(via mail,telephone,internet)
Outside Field Sales
SUPPORTPERSONNEL
MissionarySalespersons
TradeSalespersons
TechnicalSalespersons
Types of Salespersons
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
ORDERGETTERS
Currentcustomers
Newcustomers
ORDERTAKERS
Inside Order Takers(via mail,telephone,internet)
Outside Field Sales
SUPPORTPERSONNEL
MissionarySalespersons
TradeSalespersons
TechnicalSalespersons
What is Personal Selling?
• Personal selling is a promotional method in which oneparty (e.g., salesperson) uses skills and techniques forbuilding personal relationships with another party (e.g.,those involved in a purchase decision) that results inboth parties obtaining value.
• In most cases the “value” for the salesperson is realizedthrough the financial rewards of the sale while thecustomer’s “value” is realized from the benefits obtainedby consuming the product.
• However, getting a customer to purchase a product is notalways the objective of personal selling. For instance,selling may be used for the purpose of simply deliveringinformation
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• Personal selling is a promotional method in which oneparty (e.g., salesperson) uses skills and techniques forbuilding personal relationships with another party (e.g.,those involved in a purchase decision) that results inboth parties obtaining value.
• In most cases the “value” for the salesperson is realizedthrough the financial rewards of the sale while thecustomer’s “value” is realized from the benefits obtainedby consuming the product.
• However, getting a customer to purchase a product is notalways the objective of personal selling. For instance,selling may be used for the purpose of simply deliveringinformation
CUSTOMER:What’s so different about
the car you sell?
HENRY FORD:
I sell IT…….!
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
CUSTOMER:What’s so different about
the car you sell?
HENRY FORD:
I sell IT…….!
Ask any sales leader about this and they willalways start with the right attitude. Every otheraspect of sales can be learnt on-the job, but whatcan’t be is the attitude, which translates into thepassion and the energy to convert every sales callinto meaningful business.”
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
Ask any sales leader about this and they willalways start with the right attitude. Every otheraspect of sales can be learnt on-the job, but whatcan’t be is the attitude, which translates into thepassion and the energy to convert every sales callinto meaningful business.”
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
W h a t i s
T A R G E T S E L L I N G ? ? ?
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
Michael Treacy & Fred WiersemaThe Discipline of Market Leaders
CUSTOMERSNEEDS
FEATURES BENEFITS
12345678
12345678
12345678
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
12345678
12345678
12345678
Customer TypesCustomer Types
DifferentStrokesForDifferentFolks
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DifferentStrokesForDifferentFolks (c) copyright 2010 Dr
Wilfred Monteirowww.synergymanager.n
et
10 MYTHS ABOUT SELLING
10 myths that may be preventing you and your sales force fromreaching peak performance levels:
1. “Selling is selling - a good salesperson can sell anything.”2. “To get more orders, make more calls.”3. “Always call high.”4. “Use plenty of open questions - they’re more powerful than
closed questions.”5. “Close early and close often.”6. “You never get a second chance to make a first impression.”7. “Salespeople are born, not made.”8. “Welcome objections - they’re a sure sign of buyer interest.”9. “Never attack the competition.”10. “Give the most attention to your biggest accounts.”
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
10 myths that may be preventing you and your sales force fromreaching peak performance levels:
1. “Selling is selling - a good salesperson can sell anything.”2. “To get more orders, make more calls.”3. “Always call high.”4. “Use plenty of open questions - they’re more powerful than
closed questions.”5. “Close early and close often.”6. “You never get a second chance to make a first impression.”7. “Salespeople are born, not made.”8. “Welcome objections - they’re a sure sign of buyer interest.”9. “Never attack the competition.”10. “Give the most attention to your biggest accounts.”
CAMPAIGN PLANNING QUESTIONS• How many times have you heard:• "You've got to drop your price by 10% or we will
have no choice but to go with your competition."• "You will have to make an exception to your policy if
you want our business."• "I know that you have good quality and service, but
so do your competitors. What we need to focus onhere is your pricing."
• "I agree that those special services you keep bringingup would be nice, but we simply don't have thefunds to purchase them. Could you include them atno additional cost?"
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• How many times have you heard:• "You've got to drop your price by 10% or we will
have no choice but to go with your competition."• "You will have to make an exception to your policy if
you want our business."• "I know that you have good quality and service, but
so do your competitors. What we need to focus onhere is your pricing."
• "I agree that those special services you keep bringingup would be nice, but we simply don't have thefunds to purchase them. Could you include them atno additional cost?"
CAMPAIGN PLANNING QUESTIONS
• What is the prospect's currentsituation? Ask this question to give yourself thelay of the land. Often your goals for the client,the value your services can offer the client, andyour action planning for the rest of the sales callcome out of your detailed knowledge of theprospect's situation.
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• What is the prospect's currentsituation? Ask this question to give yourself thelay of the land. Often your goals for the client,the value your services can offer the client, andyour action planning for the rest of the sales callcome out of your detailed knowledge of theprospect's situation.
CAMPAIGN PLANNINGQUESTIONS• What are my business development goals for this
client or prospective client?
• Different goals for your clients will make for very different salesconversations. Questions you can ask yourself will include:▫ Is this the 'discovery' meeting where we get to know each other and build
rapport while learning how I might be able to help them?▫ Am I reviewing the results from the previous year with a client and this is
the meeting where I 'resell' my value so the client stays loyal?▫ Am I trying to supplant a competitor?▫ Is this a current client where I work in one of their divisions and I would
like to get introductions into the other three divisions where I can alsohelp?
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• What are my business development goals for thisclient or prospective client?
• Different goals for your clients will make for very different salesconversations. Questions you can ask yourself will include:▫ Is this the 'discovery' meeting where we get to know each other and build
rapport while learning how I might be able to help them?▫ Am I reviewing the results from the previous year with a client and this is
the meeting where I 'resell' my value so the client stays loyal?▫ Am I trying to supplant a competitor?▫ Is this a current client where I work in one of their divisions and I would
like to get introductions into the other three divisions where I can alsohelp?
CAMPAIGN PLANNINGQUESTIONS
• What is my desired next outcome?• Sounds simple enough, but this question is so
often overlooked by professionals before theymeet with clients or prospects
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• What is my desired next outcome?• Sounds simple enough, but this question is so
often overlooked by professionals before theymeet with clients or prospects
CAMPAIGN PLANNINGQUESTIONS
• What are my relative strengths? In everysales situation various forces are working in yourfavor. Know what these forces are for thisparticular client or prospect situation so you canleverage them to help make the client moresuccessful. This will give you increased odds ofwinning the client.
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• What are my relative strengths? In everysales situation various forces are working in yourfavor. Know what these forces are for thisparticular client or prospect situation so you canleverage them to help make the client moresuccessful. This will give you increased odds ofwinning the client.
CAMPAIGN PLANNINGQUESTIONS
• What are my relative vulnerabilities? This is the corollary tonumber four above. Maybe you have less experience thanthe competition. Maybe another company is the incumbent serviceprovider and you are the challenger. Maybe you are usually at thehigher-end of the fee scale.
Knowing what your relative vulnerabilities are will allow you toprepare in advance to either turn them into advantages or at leastdiminish them as vulnerabilities.
With good preparation and call planning you can have yourresponses to 'objections' and tough questions at the ready when youneed them.
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• What are my relative vulnerabilities? This is the corollary tonumber four above. Maybe you have less experience thanthe competition. Maybe another company is the incumbent serviceprovider and you are the challenger. Maybe you are usually at thehigher-end of the fee scale.
Knowing what your relative vulnerabilities are will allow you toprepare in advance to either turn them into advantages or at leastdiminish them as vulnerabilities.
With good preparation and call planning you can have yourresponses to 'objections' and tough questions at the ready when youneed them.
CAMPAIGN PLANNINGQUESTIONS• What actions do I need to take before the next
call?We all have to-do lists that help us do what we need to get
done. By taking the time to answer questions 1 through5, your business development and sales call planning to-do list will be as good as it possibly can be because youractions will be:▫ Informed by the knowledge of your client's situation▫ Guided by your goals for the client from a business development
perspective▫ Built to help you achieve your desired outcomes▫ Planned with the knowledge of your relative strengths and
vulnerabilities in this particular business development situation•
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• What actions do I need to take before the nextcall?
We all have to-do lists that help us do what we need to getdone. By taking the time to answer questions 1 through5, your business development and sales call planning to-do list will be as good as it possibly can be because youractions will be:▫ Informed by the knowledge of your client's situation▫ Guided by your goals for the client from a business development
perspective▫ Built to help you achieve your desired outcomes▫ Planned with the knowledge of your relative strengths and
vulnerabilities in this particular business development situation•
Here are 10 quotes of mine I use when I’m working withsalespeople and companies on sales prospecting:
1. Until you contact the customer, you haven’t done anything.2. It’s prospects that buy; not suspects.3. Thinking about a prospect does not qualify as prospecting.4. Selling to your mother is not prospecting.5. Networking is not prospecting.6. The confidence you have going into the sales call will determine the
level of profit you have coming out.7. The number of sales calls it takes to close a sale is determined more
by your own belief system than by the customer’s willingness to buy.8. A prospect is not a prospect until they’ve shared with you a piece of
proprietary information.9. The most valuable part of the prospecting process is your own time.10.Answering the phone, and taking an order from a person who is
reaching out to you is not prospecting…it’s called customer service
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
1. Until you contact the customer, you haven’t done anything.2. It’s prospects that buy; not suspects.3. Thinking about a prospect does not qualify as prospecting.4. Selling to your mother is not prospecting.5. Networking is not prospecting.6. The confidence you have going into the sales call will determine the
level of profit you have coming out.7. The number of sales calls it takes to close a sale is determined more
by your own belief system than by the customer’s willingness to buy.8. A prospect is not a prospect until they’ve shared with you a piece of
proprietary information.9. The most valuable part of the prospecting process is your own time.10.Answering the phone, and taking an order from a person who is
reaching out to you is not prospecting…it’s called customer service
What is an OBJECTION
• A true feeling about your product• A flaw in your presentation• A positive or negative reaction to your offer• A lack of needed information• A misunderstanding or doubt• A counter tactic to encounter a push• A BUYING SIGNAL
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(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• A true feeling about your product• A flaw in your presentation• A positive or negative reaction to your offer• A lack of needed information• A misunderstanding or doubt• A counter tactic to encounter a push• A BUYING SIGNAL
If you have any questions at allplease do not hesitate to send a
note or call.My email address is:
26
If you have any questions at allplease do not hesitate to send a
note or call.My email address is:
(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• is a nationally acclaimed
stalwart in the field of
business management
with an illustrious career
spanning over 25 years
• He is a consultant and
advisor to Board of
Directors of leading
companies & Chambers of
Commerce;
• a management trainer of
high repute who has
conducted over 2250
seminars in India and
abroad in areas of
business strategy,
marketing & organization
development.
• a Visiting Professor to
premier management
institutes and staff
training colleges
throughout India.
27
Dr WILFRED MONTEIRO (c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
• is a nationally acclaimed
stalwart in the field of
business management
with an illustrious career
spanning over 25 years
• He is a consultant and
advisor to Board of
Directors of leading
companies & Chambers of
Commerce;
• a management trainer of
high repute who has
conducted over 2250
seminars in India and
abroad in areas of
business strategy,
marketing & organization
development.
• a Visiting Professor to
premier management
institutes and staff
training colleges
throughout India.
website: www.synergymanager.net
▫ http://wilfredmonteiro.blogspot.in/▫ http://negotiating-wizard.blogspot.in▫ http://salescoach-india.blogspot.in▫ http://the-sales-champ.blogspot.in▫ http://salesforce-excellence.blogspot.in▫ http://strategic-selling.blogspot.in▫ http://hrm-excellence.blogspot.in▫ http://personal-growth-guru.blogspot.in▫ http://thegreatmanager.blogspot.in▫ http://leadership-by-values.blogspot.in▫ http://therightetiquette.blogspot.in
28Dr WILFRED MONTEIROplease view the blogspots I have developed for my participant ongoing learning
▫ http://wilfredmonteiro.blogspot.in/▫ http://negotiating-wizard.blogspot.in▫ http://salescoach-india.blogspot.in▫ http://the-sales-champ.blogspot.in▫ http://salesforce-excellence.blogspot.in▫ http://strategic-selling.blogspot.in▫ http://hrm-excellence.blogspot.in▫ http://personal-growth-guru.blogspot.in▫ http://thegreatmanager.blogspot.in▫ http://leadership-by-values.blogspot.in▫ http://therightetiquette.blogspot.in
website: www.synergymanager.net
(c) copyright 2010 DrWilfred Monteiro
www.synergymanager.net
CONTACT
Dr Wilfred MonteiroEMAIL: [email protected]
website:
www.synergymanager.net
SYNERGY MANAGEMENT ASSOCIATESsince 1993
HR Systems DesignPolicy Deployment
Talent Management innovationsBest Practices enablement
Competency based HRMH R Systems Metrics & Audit
29(c) copyright 2010 Dr Wilfred Monteiro
www.synergymanager.net