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The Sales Process

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Dr. Nick De Bonis

on 6 September 2012

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Transcript of The Sales Process

MKTG3133 Fall 2012 The Sales Process Step 1 : Initiating Customer Relationships The Big 3 Sales Approaches Pre_Call Planning What do I want/need to accomplish?
What do I know about the prospect?
Where can I find information?
What am I going to say? Prospecting External Sources
Direct Inquiries
Cold Canvassing
Internal Sources Qualified Candidates
have a need
have the authority to buy
can afford to buy Qualifying Prospects Approaching the Prospect What’s your best pick-up line?
Types of Sales Approaches
Introductory approach
Product approach
ROI approach
Referral approach
AND the Big 3 Canned: a memorized, 'one size fits all' presentation repeated basically vebatim for every prospect.
Least effective for CRM (Customer Relationship Management)
Organized: dialogue-based with high customer involvement
More effective for CRM
Tailored: specifically designed for the prospect
Most effective for CRM Step 2 : Developing Customer Relationships Sales Presentation Delivery Overcome Objections ROT: An objection doesn’t mean “no way!”
3 things objections tell you
1. The customer’s interested, but doesn’t want to be thought of as an easy sale.
2. The customer may be interested, but isn’t clear about what’s in it for the his/her company
The customer may not be interested, but could be if s/he was educated them properly. Overcoming Objections: LSCPA Listen to the buyer’s feelings
Share the concerns without judgment
Clarify the real issue with questions
Problem solve by presenting options/solutions
Ask for action to determine commitment False Objections You will never overcome a false objection.
an objection without basis used to get rid of you when the buyer doesn’t want to tell you s/he’s not interested in your products and service or the true reasons for not being interested in your products and service.
Ask if that's the only objection.
A buyer with a false objection usually answers "no."
When you ask what the other objections are, they will also be false. Closing the Sale Verbal clues the buyer's ready to be closed
Gives positive positive feedback – “I like the new features you described.” Ask for the sale (trial close) ROT – never leave a sales presentation without asking for the sale Asks questions – “What colors does it come in?”
Seeks validation – “Who are some other firms that have bought your product recently?”
Spontaneously offers purchase requirements – “My orders must be split among four warehouses.” Closing the Sale Nonverbal cues
is relaxed, friendly, open
brings out paperwork to consummate purchase
exhibits positive gestures/expressions Closing Techniques Direct close
Summary-of-Benefits close
Balance Sheet close
(Legitimate) The Last Chance close
Assumptive close
Alternative choice close
Bobble head close Closing Mistakes Ineffective pre-approach
“One size fits all” approach
Not listening
Ambiguous post-closing action Sales Call Outcomes Handling Rejection Understand the difference between performance and self-worth
Positively anticipate the possibility of rejection and it will not overwhelm you
Each rejection gets you closer to the sale
Consider that the decision not to buy may have underlying reasons
Don’t assume you're the problem Step 3: Enhancing Customer Relationships Adding value through sales
Full transcript