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Sales

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John Blechacz

on 1 December 2015

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Transcript of Sales

Selling
It's all about knowing the product you are selling and who you are selling it to!
Two Types of Selling
What is Selling?
The process in which money is exchanged for a product or service of equal value
Selling Process is...
Identifying a Want or Need
Problem Solving
Building a Relationship
Knowledge of Product or Service
Communication (Especially Listening)
Differentiating
Determination
And On and On
Business to Business
(B2B)
Business to Consumer
(B2C)
Sales transactions that take place between one business and another
For Ford to be able to build a Mustang, they need to buy materials from these companies.
Sales transactions that take place between a business and customer or consumer
Ways of Selling
Personal Selling-
Direct contact and two way communication between a salesperson and a customer (personalized)
Non-Personal Selling-
One way, mass messaging used to increase customer traffic in stores (advertising, promotions)
Customer Buying Motives
Door-to-Door-
Process of selling a product or service over the phone. It can also be used maintain a relationship/check on the customer.
There is more to it than just calling you during dinner!
Feature/Benefit Selling
Matching of a product or service to the needs and wants of a customer
Product Features
Customer Benefits
Basic, physical, or extended attributes of a product or service.
How will these features benefit the customer?
Basic Features: its intended use
Physical Features: color, size, or material
Additional Features: suri or fingerprint scanner
Extended Features: warranties or service plans
Advantages or personal satisfaction a customer will get from the product or service.
How does the feature help the product's performance?

Will the feature's performance influence customers to buy the product or service?
In order to effectively sell a product or service, you must understand the customer
Rational Motive
A conscious, logical reason for making a purchase
Product Dependability
Time
Saving Money
Health or Safety
Service Plan
Product Quality
Emotional Motive
A feeling experienced by a customer through association with a product.
Social Approval
Recognition
Power
Love
Prestige
Nostalgia
Customer Decision Making Process
How a customer makes a decision on what to purchase is based on the following:
Previous experience with the product or company

How often they purchase the product

The amount of information necessary to make a wise buying decision

The importance of the purchase to the customer

The perceived risk involved in the purchase

The time available to make the decision
3 Types of
Customer Decision Making
Extensive Decision Making
Used when there is little or no previous experience with a product or service.
A First House
A First New Car
Large Events (Weddings)
Limited Decision Making
Used when a customer buys a product or service that he or she has purchased before but no often
A second car
Vacations
High End Clothing
Furniture
Routine Decision Making
Used when a customer needs little or no information about a product or service. This is due to a large amount or previous knowledge and experience.
Grocery Items
Brand Name Clothing
Cosmetics
Consumer Electronics
(High Risk Purchases)
(Moderate Risk Purchases)
(Low Risk Purchases)
Your Turn!
On a blank piece of paper, identify then draw three products or services that you have bought within the past month using rational motivation and another three that you bought using emotional motivation.

Then identify three features for each and its primary benefit.
Sales Preparation
You cannot just jump into selling, one must prepare!
Preapproach:
All the actions that take place before the face-to-face encounter with customers. This is where preparation take place.

Product Info, Industry Trends, and Sources and Methods of Prospecting
Product Information
It is important to know the following:

What the product or service does
How it works
Its features and benefits
Where to get it
How much it costs
How to maintain it
Who to contact with questions
or issues

This information can be gather from the following four sources:

Direct Experiences
Written Publications
Other People (Users)
Formal Training
Industry Trends
Research and gather information that can be used to help with sale or differentiate your product or service from the competition.
Industry Trends:
What is currently happening in the industry which you compete in.
(what's hot and what's not)
Sources and Methods of Prospecting
Prospect:
A potential customer
There are several ways to identify potential customers
Employer Leads
Businesses use telemarketing to generate leads by finding interested customers
Telemarketing-
Process of selling a product or service over the phone. It can also be used maintain a relationship/check on the customer.
There is more to it than just calling you during dinner!
Phone Directories
Utilizing phone books and websites to gather contact information about potential customers in an area.
Newspapers
Birth Announcements
Engagements Announcements
Business Mergers
Simple Information can go a long way...
Commercial Lists
Salespeople can purchase customer information gathered by research companies.
(some information is free, some is not)
Contact Information
Email Addresses
Purchasing History
Demographics
Customer Referrals
Satisfied customers can be a huge asset to businesses by recommending or referring friends or family.
Referrals:
The names/contact information of people who may be interested in buying a product or service.

It is becoming common for businesses to offer discounts or gifts to customers who give referrals.
Cold Canvassing
When a salesperson tries to locate as many potential customers as possible without checking out for leads.
(Cold Calling and Door-to-Door are most common)
B2B Sales Representatives can use this information to identify and locate companies that may be interested in doing business.
Preparing for the Sale
(In a B2B and B2C Setting)
B2B Preparation
Trade and Professional Directories
Information on which industry a company competes in, how they do business, and who manages the purchasing decisions.
Before contacting a business to make a sales pitch, salespeople must prepare by asking, researching, and answering the following questions:
Does the prospect need this product or service?

Does this prospect have the financial resources to pay for the product or service?

Does the prospect have the authority to buy?
B2C Preparation
Since customers go to the sales representatives in retail selling situations, the preparation centers around the store and merchandise. Activities to effectively prepare include:
Straightening, rearranging, and replenishing the inventory

Adjusting price tags before and after sales

Learning where the inventory is and how much is available

Taking inventory

Arranging displays

Cleaning the store
The Sales Process
There are 7 steps in the selling process:
Approaching the Customer
Determining Needs
Presenting the Product
Overcoming Objections
Closing the Sale
Suggestion Selling
Relationship Building
The Sales Process
Step 1: Approaching the Customer
Greeting the customer face-to-face
Service Approach Method:
Ask if the customer needs assistance
Greeting Approach Method:
Simply welcome the customer to the store
Merchandise Approach Method:
Make a comment or ask a question about a product or service the customer appears to be interested in
Step 2: Determining Needs
Learning what the customer is looking for in a product or service in order to decide what products to show and which features to present first
Determine what the customer needs as quickly as possible by...
Listening
Observing
Questioning
Step 3: Presenting the Product
Educating the customer about the product or service's features and benefits
Displaying
Which products to show
What price range to offer
How many products to show
What to say
Interacting
Handing the Product
Demonstrating
Using Sales Aids
Involving the Customer
Step 4: Overcoming Objections
Learning why the customer is reluctant to buy, providing information to remove uncertainty, and helping the customer to make a satisfied buying decision
Objections:
concerns, hesitations, doubts, or honest reason for not buying
Excuses:
insincere reason for not not buying
Common Objections
Need: Customer does not have a need.
Product: It does not match customer preference, style, or taste.
Source: Bad experience with store or prefer a different brand
Price: To expensive or cheap
Time: Customer wants to wait and come back later (sales)
Handling Objections
Boomerang: Take an objection and turn it into a selling point.
Questioning: Ask questions to answer objections before they happen
Superior Point: Acknowledge objections and counter with features and benefits.
Denial: Provide accurate information to correct misinformation
Demonstration: Proof and experience
Third Party: Testimonials and spokespeople
Step 5: Closing the Sale
Getting the customer to agree to make a purchase
(help make a decision, but do not rush)
When is it time to close a sale?
There a many opportunities to finish the deal...
Buying Signals:
Things customer do or say to indicate readiness to buy (facial expressions, comments, or body language).
Trial Close:
An initial attempt to close the sale. Sometimes it works other times it does not.
Closing Techniques
Which Close:
Encourage a customer to pick between two products or services.
Standing-Room-Only Close:
There is a limit supply of the product or there will be a price increase in the future.
Direct Close:
Asking for the sale.
Service Close:
Explain service that overcome obstacles/issues
Step 6: Suggestion Selling
Suggesting additional merchandise or services that will either save the customer money or help them enjoy the original purchase
It's OK to fail. It happens.
Buying a phone...
You need a cover
Step 7: Relationship Building
Maintaining contact with the customer after the sale is complete.
(most important step in the process)
Positive relationships and experiences lead to...
Future Sales
Positive Word of Mouth (WOM)
Strong Brand Recognition
Advantage Over Competition
Full transcript