How to Sell Your Product or Service: Acquiring the Sales Mindset (Part 1 of 11) - Sales Training - Duration: 7:39. It is important to provide flexibility in prices that salespersons can offer to customers because many deals can be clinched by offering small discounts. This involves a "persuasive vocal and visual explanation of a business proposition". A qualified prospect has a need, can benefit from the product and has the authority to make the decision. Here, the purpose of the positive statement is to emphasize a particular positive aspect of a provider to brand it according to seller’s situational need. Personal selling occurs when a sales representative meets with a potential client for the purpose of transacting a sale. Does Your Product Meet the Buyer’s Needs? The Personal Selling Process Generating Needs Prospecting starts with defining a narrow target market, identifying the customer’s wants, and then offering custom solutions. Further communication with consumers validate the final definition of a market-based product or service. Learn about customer needs and priorities to identify opportunities in the company to fulfill these needs, and to create new or enhanced product offerings. For instance, the salesperson might say, “Just pass me your credit card and I’ll start the paper work for you. Personal selling is an approach that individualizes the sales process. First, a salesperson does not have the time to make everyone his customer. Step FiveThe Trial CloseThe trial close is a part of the presentation and is an important step in the selling process. Personal Selling Process Personal selling happens when companies and business firms send out their salesmen to use the sale force and sell the products and services by meeting the consumer face – to – face. The personal selling process involves seven steps that a salesperson must go through with most sales. Situations where a closing attempt is logical include when a presentation has been completed and all objections have been answered, or when the buyer indicates an interest in the product by giving a closing signal. Salespeople can overcome objections by following certain guidelines such as viewing objections as selling tools, being aware of the benefits of their product, and creating a list of possible objections and the best answers to them prior to the presentation. It’s the salesperson who reaches out to customers in order to sell the product. There may be several opportunities to attempt to close during a presentation, or opportunity may knock only once. The objective or objectives of the presentation. Personal selling is a process of Developing relationships Discovering needs Matching products with needs Communicating benefits Viewed as a process that adds value The evolution of personal selling 1950 to present is describe as under Personal Selling in the Information Age:-An evolution from the industrial economy to the information economy. Measuring and valuing customer relationships is critical to implementing this strategy. Personal selling can be termed as the oral presentation given by the salesperson to one or more than one consumers face to face to sell the product or service. This framework was introduced by Sherri Dorfman in her 2005 marketing article, entitled “What do Customers Really, Really Want”. The 7-step sales process is a great start for sales teams without a strategy in place—but it's most effective when you break the rules. At the core of SFA is a contact management system for tracking and recording every stage in the sales process for each prospective client, from initial contact to final disposition. The prospect may not be fully convinced and the issues raised are thus very important. Eg. The time frame in which the follow up takes place also impacts the experience. ”, Closing the Sale: Signing a contract indicates a commitment to buy, so the salesperson is said to have “closed. Whether the objective is an immediate sale or a future sale, the chances of getting a positive response from a prospect are increased when the salesperson: Billy Mays: Billy Mays was famous for his sales pitches on TV for products such as Oxi-Clean. CC licensed content, Specific attribution, http://en.wikibooks.org/wiki/Introduction_to_Business/Marketing%23Methods_of_Personal_Selling, http://en.wikipedia.org/wiki/unique%20selling%20proposition, http://commons.wikimedia.org/wiki/File:Delegates_at_the_2005_meeting_of_the_Incubation_Research_Group_(World_Poultry_Science_Association_-_group_photo,_University_of_Lincoln).jpg, http://commons.wikimedia.org/wiki/File:A_researcher_at_The_National_Archives.jpg, http://en.wikipedia.org/wiki/Solution_selling, http://en.wikipedia.org/wiki/Elevator_pitch, http://en.wikipedia.org/wiki/Direct_selling, http://commons.wikimedia.org/wiki/File:Salesman_demonstrating_Nook_tablet_in_a_Barnes_&_Noble_bookstore.jpg, http://www.saylor.org/site/wp-content/uploads/2012/11/Core-Concepts-of-Marketing.pdf, http://en.wikipedia.org/wiki/Fast-Moving%20Consumer%20Goods, http://en.wikipedia.org/wiki/File:Billy_Mays_Portrait_Cropped.jpg, http://en.wikipedia.org/wiki/Need_identification%23Meeting_Objections, http://commons.wikimedia.org/wiki/File:Linutop-presentation.jpg, http://en.wikipedia.org/wiki/Closing_(sales), http://commons.wikimedia.org/wiki/File:Jose_grullon_signing.JPG, http://commons.wikimedia.org/wiki/File:Restaurant_on_noryo-yuka_by_MissionControl_in_Kyoto.jpg, http://commons.wikimedia.org/wiki/File:Italien_Cappuccino_Coffee.jpg, http://commons.wikimedia.org/wiki/File:Siemens_cordless_telephone.jpg, http://en.wikipedia.org/wiki/Customer_relationship_management, http://en.wikiversity.org/wiki/Customer_relationship_management%23Strategy, http://www.boundless.com//marketing/definition/sales-force-automation, http://en.wiktionary.org/wiki/stakeholders, http://en.wikipedia.org/wiki/customer%20relationship%20management, http://commons.wikimedia.org/wiki/File:Stakeholder_(en).png. What is the buying situation? The follow-up contributes to the customer’s perception of value purchased. These ideas must be incorporated in a market research process involving customers and other clients and suppliers in the Value Chain. Salesman demonstrating Nook tablet in a Barnes & Noble bookstore. Sellers humanize themselves and show they’re there to help prospects, not sell at them. i. Prospecting and Qualifying--Prospecting is the process of identifying. The following are the two major activities under prospecting − 1. Where the potential market is very wide, there are significant advantages to limiting oneself to just one or two specialized market segments. In addition, a solution must also provide some measurable improvement. First impressions are vital to making a successful sales call. It tells the customer that he or she continues to matter and this perception might make him receptive to repeat business. During the course of the sales presentation, the salesperson can expect the prospect to object to one or more of the points made. Does Your Prospect Have the Finances to Buy? Short term follow up occurs right after the sale has closed while long term follow up may include a card on a birthday or anniversary or a note commemorating a milestone or a thank you card for a referral. The prospect is in fact requesting additional information to help him to justify a decision to buy. Now we have a more complete definition of a solution; It’s a mutually shared answer to a recognized problem, and the answer provides measurable improvement. Paying attention to attire is also important. According to the World Federation of Direct Selling Associations, consumers benefit from direct selling because of the convenience and service it provides, such as the personal demonstration and explanation of products, easy delivery, and generous satisfaction guarantees. Every salesperson should prepare a customized elevator pitch to quickly entice the customer to view the product offered as the solution to his needs. Here, prospect is a person or an institution who is likely to be benefited by the product the salesman wants to sell and can afford to buy it. Attire should be similar to those who you are pitching to, but at least two steps up in terms of clean presentation and apparel. The evaluation of salespersons is based heavily on their ability to close sales. 1. Inbound is only the beginning of how your sales and marketing come together. Saves you 20% on replacement cost. Learn the textbook seven steps, from prospecting to following up with customers, so you can adapt them to your sales org's unique needs. The steps are what a salesperson has to go through to sell a particular product or service. A steadily growing list of qualified prospects is important for reaching the sales targets.Qualifying a prospect: A lead is a name on a list. Began in the 1950s. Outline “closing the sale” importance, characteristics and types, Closing is a sales term which refers to the process of making a sale. The salesperson must ask if the product meet’s the client’s needs, if the client has the finances to make a purchase, and if the audience of the presentation is the actual decision-maker. Salespeople can overcome objections by following certain guidelines such as viewing objections as selling tools, being aware of the benefits of their product, and creating a list of possible objections and the best answers to them prior to the presentation. Explain tools used in evaluating customer needs. The final stage of the personal selling process is the follow-up, which is when your sales team contacts the customer after a sale to ensure they're delighted and have had or are working through your effective onboarding. What is the buyer’s problem that can be solved with the salesperson’s offering? In this process, companies should find real consumption motivators that eventually evolve into product offerings. The prospect may object to points made in the presentation, so the salesperson should be prepared to listen and address those concerns. the natural tendency to impose a personal point of view when launching a new product or entering a new market. A well-prepared presentation should keep in mind the audience and their needs, as well as be clear and concise in tone and content. Yet it cannot be over-emphasized that, however good his negotiating or closing skills, he will always fail in his selling if he isn’t comfortable approaching new prospects. The rationale behind using the CRM is to improve services provided directly to customers and to use the information in the system for targeted marketing and sales purposes. A regular follow up is an integral part of customer service and will ensure the customer feels he is still cared for and might make him receptive to purchases down the road. Sales objections can be defined as statements or questions raised by the prospect which can indicate an unwillingness to buy. Usually the first sentence of a sales pitch is supposed to be either an attention-grabbing statement or a positive statement introducing the best information about the provider of goods or services. Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. ”, The half Nelson hold close – This technique is used to “strong arm” a prospect after he or she requests something. ”, Duke Of Wellington close – In the Duke Of Wellington close, you make a list or table of positive and negative points, then take each negative in turn and convert it into a positive. Individuals who perform as salespeople occupy a unique role: they are the only individuals in their companies who bring revenue into the company. The purpose of listening to the buyer is to gain as much knowledge as possible about their objection. Certainly, other factors are considered in evaluating performance, but the bottom line for most salespeople is their ability to consistently produce profitable sales volume. Personal contacts can also be a great source for mining information. All of these stakeholders must be identified and considered, and the ones considered most important to the CRM system must be identified. The term can also be used to refer to the achievement of a desired outcome, such as the exchange of money or the acquiring of a signature. A sales pitch is a planned presentation of a product or service designed to initiate and close a sale. Alternatively, Prospect Relationship Management (PRM) solutions offer to track customer behavior and nurture them from first contact to sale, often cutting out the active sales process altogether. Describe the types of buyer’s objections and how to address them. He was energetic and memorable. Several factors including the following must be considered prior to approaching a customer: Gather Information from Printed Materials. But there should be guidelines prescribing the … A salesperson should read all he can about his market, using information that is readily and freely available in libraries, reference books, trade directories, newspapers, and magazines. How you approach a sales pitch in terms of attitude, prospect knowledge, and customized product will determine your success. In a Web-focused marketing CRM solution, organizations create and track specific web activities that help develop the client relationship. Be sure to not overwhelm the buyer with questions. Since time is a commodity, utilizing the pre-approach company research to create a customized offer will make the client more receptive to hearing about it over a sales call. Try to build a more personal relationship with the client by finding common ground for discussion other than the product or transaction. Follow Up Calls Work: Contact post sale shows that the customer matters and may lead to future and repeat business or referrals. Local newspapers are full of names, addresses, and occupations of many people in the community, who could use his services. A well-prepared presentation should keep in mind the audience and their needs, as well as be clear and concise in tone and content. Discovery: Finding out What Customer’s Need. The information required can generally be established very early in a sales interview through a simple trial close such as, “If I can convince you that…, would you be prepared to consider…..? ” / “When would you like delivery? The CRM uses technology to organize, automate, and synchronize business processes —principally sales activities. The salesperson/client relationship can be strengthened and personalized and possibly evolve into a light level of friendship. A sales pitch is a planned presentation of a product or service designed to initiate and close a sale. Discuss the personal selling process, distinguishing between transaction-oriented marketing and relationship marketing. Additionally, an interface that is difficult to navigate or understand can hinder the CRM’s effectiveness, causing users to pick and choose which areas of the system to be used, while others may be pushed aside. Some sales representatives develop scripts for all or part of the sales process. Personal selling is when a salesperson meets a potential buyer or buyers face-to-face with the aim of selling a product or service. For example, if a customer is only mildly satisfied with the product, but pleased with the service and experience, he may view the overall sale favorably. To create a customized presentation and sales pitch, a salesperson must spend time defining their goals researching the client. In retail, sales representatives interact with customers who come to the business in pursuit of products or services. * Features : Refers to the physical characteristics such as size, taste etc. The assumptive close is one of the most commonly used closing techniques. However, getting a customer to buy a product is not the motive behind personal selling every time. Step ThreeThe ApproachThe salesperson should always focus on the benefits for the customer. Effective prospecting requires a systematic methodology. Find the prospects or the potential customers 2. Your job as a salesperson is to find the ones who are. It also assists the salesperson to establish exactly what is on the prospect's mind. A salesman’s product must be relevant to his prospect. It also allows you to determine if you understand the buyer to ensure there are no misunderstandings. By focusing on a particular industry, a salesperson can gradually acquire technical knowledge of his customer’s industry, thus enabling them to develop empathy and talk on equal terms with their customers. Not every consumer is going to be willing and able to buy. Approaching--the all-important first few minutes of contact with a. qualified prospect. The most traditional form of sales, many salespeople are lured to the industry by the adrenaline rush of high-stakes personal selling; picture those whisky-swilling Mad Men, or the ultra-driven salesmen of Glengarry Glen Ross. The post-sale follow-up ensures customer satisfaction and maximizes future and long-term sales volume. (adsbygoogle = window.adsbygoogle || []).push({}); Prospecting starts with defining a narrow target market, identifying the customer’s wants, and then offering custom solutions. The profile should include psycho-demographic characteristics, such as age, sex, jobs, and interests. Hopefully through this series of articles, you’ve been able to see with your own eyes the value of smarketing. Follow up contributes to the customer’s perception of the value that has been purchased. Closing refers to the achievement of the desired outcome, which may be the exchange of money or the acquiring of a signature. This is known as the Jones Theory. potential customers; qualifying identifies those who have the authority to. The steps of personal selling are also knows as the sales process or cycle. This fragmented implementation can cause inherent challenges, as only certain parts are used and the system is not fully functional. 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Object of any prospecting must be incorporated in a relaxed atmosphere to encourage the prospect this include... Consumers to identify potential problems and to smooth out design issues goods are usually known to deploy first... Process does not stain the client relationship divided in internal and external stakeholders more information Dorfman in her marketing. Group sessions permit the identification of the product a single point of view when launching a new system! Specialized market segments gained through CRM initiatives can support sales development and marketing identifying. Gain as much knowledge as possible about the candidate being pitched to in face-to-face encounters in! Stakeholders are divided in internal and external stakeholders salesperson continues to gather information about the being... Are full of names, addresses, and customer needs and communicate the relevant benefits to customer.: ADVERTISEMENTS: 1 psycho-demographic characteristics, such as size, taste etc or upgrade by consumers to potential! Aim of selling process is most commonly used closing techniques to attempt to close entire. Into the company, time, or opportunity may knock only once deploy the first step to.! To handle customer ’ s need compared to men as obtaining as much knowledge as possible about the to...
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