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Sales Exam 2
| Question | Answer |
|---|---|
| A few reasons why we lose customers | 1. Customer’s company goes out of business 2. Competitor takes away your customer 3. Customer moves on or dies 4. Mergers or downsizing 5. Customer-salesperson relationship deteriorates |
| Qualifying the Prospect "Objective" | To transition a targeted person or company from a lead to a qualified prospect and ultimately to a customer |
| Sales Lead | Just a name |
| Prospect | someone researched for need, fiscal capability, and authority |
| Qualified Prospect | a thoroughly evaluated prospect that has met the criteria (along with additional personal information) |
| When serviced successfully, the Qualified Prospect ultimately transitions into a | Customer |
| A Class ‘A’ Qualified prospect is one to whom….. | 1. You have been REFERRED by a person that the Prospect “respects” 2. A person who has the ability to make a BUYING DECISION 3. An individual who has the ability TO PAY for the product or service that you are marketing 4. Someone whom you have |
| MADDEN Test | Money Approachable Desire Decision-maker Eligible Need |
| GETTING REFERRALS | Referrals or positive word of mouth surpass all other methods to get clients |
| 6 Ways to Get Better Results,When Seeking Referrals | 1. Ask for their help 2. Gain their permission to explore 3. Explain the (Game-plan) 4. Narrow their focus by explaining your ideal prospects… make it easier for them 5. Ask for referrals with respect 6. Thank them PROFUSELY |
| A Skilled Salesperson Even Learns to ________ Their Prospects & Maximize All Sales Calls | Prospect their prospects |
| Centers of Influence | -Are influential with a significant number of people (Contact Spheres) -Are persons who believe in who you are and what you are selling -willing to give you names on a regular basis (They trust you and believe in your value proposition) |
| Planned Cold Calling | -At least one out of seven will be receptive (Textbook?) -Use LinkedIn to “warm up” your Cold Calls Referrals & Centers of Influence ALWAYS Trump Cold Calls |
| Group Prospecting | Trade Show selling: 5 Tips on Trade Show Selling 1 - Qualify your prospects 2 - Interview your prospects 3 - Listen intently 4 - Network your prospects (Ask for help) 5 - Get their commitment |
| Marketing Lists: Email or Snail Mail | “Lead lists” can be obtained |
| Gitomer on the Type of Info You Send to Your Prospect | 1.Bring them an idea that will HELP their business 2.Make your info a MUST READ 3.Use a RED Pen to highlight IMPORTANT stuff |
| Observation | n Always be looking! n Prospects are everywhere n Read websites, newspapers and selected magazines n Read Trade journals |
| Joining Civic Groups | Carefully select the groups you join 2. Work for positive visibility 3. Set contact goals for each organization meeting DON’T JOIN FOR THE WRONG REASONS!! |
| Networking | n Active cooperation tips n There are formal groups that you can join n Sharing information makes good sense |
| Company Initiated Prospecting | Telemarketing Activities n Advertising Campaigns & Responses n Recontacting Past Customers n Review and Attempt to Revive Inactive Accounts |
| Develop a Strong Digital Presence | Successful SEO and SEM programs draw prospects towards you and your company n Establish affiliate marketing programs n Converts digital leads into online sales |
| Classification of Prospects | • CLASS C - A “lead”, you simply have a name • CLASS B - Need more information to make a presentation • CLASS A - Enough information to make a presentation |
| The Importance of Preapproach Planning | 1. Prospecting 2. Preapproach 3. Approach 4. Need Discovery |
| The PREAPPROACH is also known as Pre-Sale Planning | …it’s the planning and preparation done prior to the actual contact with the prospect |
| 4 Steps in Preapproach Planning | 1. Analyze prospecting information 2. Plan specifically for each sales call 3. Study product and sales literature 4. Go over and rehearse your presentation |
| The extent of your Preapproach will vary by the Industry, _____, Number of Accounts, and _________. | Industry, Client type, Number of Accounts, and Familiarity. |
| The 5 P's | Proper Planning Prevents Poor Performance: If Buyers perceive you as unprepared, you won’t get a second chance to call on them again. |
| n They EXPECT Salespeople to INVEST at least _______ into custom preparation prior to calling on them | 30 minutes |
| Salespeople MUST learn to THINK like their Prospect / Client | LEARN WHAT KEEPS THEM UP AT NIGHT (competition, trends, share of market) |
| Preparation and Preapproach | Buying center: • Networking: Does anyone in my company (or that I know,) know anyone in their company? |
| Use __________ to help motivate and inspire you for success in selling | AFFIRMATIONS |
| Sources of Preapproach Information | The Salesperson must ALWAYS keep their eyes and ears open about what is happening at the Prospect company |
| The Right Preapproach Techniques Increase Your Self-Confidence | • By having a plan developed and knowing about the customer in advance, you’ll bolster your self-confidence • Enhance your perceived value |
| Options for Gaining Entry: Making that first appointment | Telephone - The BEST Option, good, non-intrusive and enables human, voice to voice interaction |
| GATEKEEPERS are NOT your ENEMY | View them as someone who is there to HELP YOU and can STEER YOU in the right direction |
| Telephone Techniques | View the appointment as a mini-sale. You’re selling the appointment over the phone, not your service or product. Practice using your powers of visualization |
| Most ANNOYING voice characteristics: | Whining and complaining |
| The 6-Step Telephone Track | Step 1 - Introduce yourself and your company, Step 2 - Take the curse off the call, Step 3 - State the purpose of the call, Step 4 - Use an interest-capturing statement, Step 5 - Request an appointment, Step 6 - Overcome their resistance |
| Purposes of the Approach | To make a favorable or positive impression gain the prospect’s undivided attention develop positive interest transition smoothly into the fact-finding |
| First impressions | You’ve got just 4 Minutes. BUT, Your First Impression MUST be based upon who you are. |
| The Proper Greeting | The Rule of Ten - the first 10 words should include a form of thanks. The handshake helps determine personality style: n Drivers - firm, may turn hand over yours n Amiables - may not make eye contact |
| Gaining Attention & Capturing Interest | Salesperson must develop a carefully constructed, attention generating statement that focuses the Prospect’s full attention completely on you and your proposition |
| The Self-Introduction Approach | Has greater impact, when immediately followed up with another of the Approaches |
| Qualifying Question Approach | Seeks a commitment from a prospect |
| Consumer Benefit Approach | n Suggests a risk for failure to listen |
| Curiosity Approach | Ask questions whose answers will reflect favorably on your product/ service |
| Question Approach | Quickly establishes two-way communication |
| The Compliment Approach | Signals your honest interest in the prospect |
| The Referral Approach | Helps you establish leverage by borrowing the influence of someone the prospect trusts and respects |
| The Product Demo Approach | n If bringing the actual PHYSICAL product is not feasible, you must use other devices. TO MAKE THE SALE, THE PROSPECT MUST STAY FOCUSED ON YOU AND NOT THE PRODUCT |
| The Premium Approach | Giving the prospect a sample of your product or a small gift |
| The Showmanship Approach | Doing something unusual to capture the prospect’s attention |
| Transition from the Approach | To move smoothly to the Questions you plan to ask to discover the needs of your prospect |
| Prospects Very Often Forget What We Tell Them | The “typical” salesperson presents 6 to 8 benefits during a sales presentation 24 Hours later, the average prospect remembers just one benefit |
| Know your product well or else prospects will __________. | resent you |
| Be authentic. If you don’t believe in your product, you can’t _________ | fake it |
| If you can’t sell your product _____________ dont bother selling it...your prospects will know | enthusiastically, |
| PLAN Specific Call Objectives for each of your Interviews | • Initial call - establish rapport Data Gathering call Proposal call - handle objections Closing call - ask for commitment |
| The Memorized Presentation | Quick Productivity Reliable Information Proven Effectiveness Confidence Building |
| The Outline Presentation | Requires greater abilities to understand people and greater product knowledge |
| The Extemporaneous Presentation | winging it- Only recommended for the most experienced professional salespeople |
| Using UNITS OF CONVICTION | Concise, carefully prepared “mini-presentations” that are used as building blocks in constructing the information the salesperson presents |
| Each Unit of Conviction Consists of the Following 5 Elements | 1. Feature (A fact about the product or service) 2. Transitional phrase or bridge 3. Benefit (What’s in it for me?) 4. Evidence or proof statements 5. Tie-down (trial close or nail down) |
| FEATURES _____ & BENEFITS ______!! | FEATURES TELL & BENEFITS SELL!! |
| The Tie-Down Question (Trial Close) | A question that confirms that the prospect AGREES that the benefit is applicable and important to them • The goal of the Tie-Down Questions is ideally for the Prospect to answer YES to all of the questions |
| If Including A Demonstration In Your Presentation… Ask Yourself These Important Questions | Have I rehearsed to the point that the demonstration flows smoothly and naturally? |
| Terri Sjodin on PowerPoint | 1. The salesperson must be the focal point, not their slides 2.Should be an AUTHENTIC visual aid 3.If slide benefits prospect keep it, if it is to help you through presentation, get rid of it 4.Use pictures not words in PowerPoint |
| Dealing with Interruptions | Only after you have made sure that they are re-focused on you should you proceed |
| Negotiations in Selling | Negotiation takes place throughout each step or stage of the selling process and handling prospect objections are part of the deal |
| Prospects that buy raise more than _________ as prospects who don’t buy | twice as many objections |
| When do prospects object? | At any time during your sales call… from your first introduction up to the time you try and close. |
| Objections are a Buying Signal | When the prospect doesn’t raise or have any objections, they aren’t listening & they are not buying |
| 4 Types of Objections | 1 - The Searcher Aka “Seymour” 2 - The Stopper Aka “Gamebreaker” 3 - The Hidden Objection Aka “Ice Berg” 4 - The Stall Aka “The Put Off” |
| When you can REDUCE the fear of _________ that the prospect feels, you WILL be able to_______ them | RISK, CLOSE |
| Why Prospects Offer Resistance | Psychological & Emotional Reasons, Logical Reasons |
| 6 categories of objections or sales resistance: | 1. Product objection 2. Objection to the salesperson 3. Objection to the salesperson’s company 4. Prospect doesn’t want to make a decision 5. Service objection 6. Price objection (possibly hiding real objection) |
| 4 Selected Strategies for Deciding When to Answer Objections | 1: TO ANTICIPATE & FORESTALL OBJECTIONS 2: DEFERRAL OR POSTPONING THE ANSWER 3: ANSWER IMMEDIATELY 4: DO NOT ANSWER AN EXCUSE |
| A Negotiating Strategy for Handling Buyers’ Concerns | 1. Listen carefully; Hear the prospect out 2. Confirm your understanding of the objection 3. Acknowledge the prospect’s point of view 4. Select a specific technique - base your decision on: 5. Answer the objection 6. Attempt to close |
| Support your Answers to Objections | Product Comparison Case Histories or Testimonials Demonstration Guarantees or Warranties Show the Cost of Delaying |
| Direct Denial involves refuting the opinion or belief of a prospect | Considered a high risk method of handling buyer resistance n If buyer resistance is not valid, there may be no other option than to refute it by providing accurate information |
| Indirect Denial - Sometimes a prospect’s objection is valid, or at least partially accurate | If done in a natural, conversational way it will not offend the prospect |
| The Boomerang Method of handling objections | Turn the objection into a reason to buy n Shows that you agree with their objection, but then allows you to show them that it still shouldn’t prevent their purchase |
| Methods to Negotiate Against Price Resistance | . Add value with a cluster of benefits and differences 2. Don’t apologize for the price 3. Don’t make price the focal point of your presentation 4. Point out the relationship between price and quality |
| Specific Methods for Overcoming the Question of Price | Postpone the price question n Answer it when you want to. After numerous benefits have been given so that the value received outweighs the price asked Break it down (by day, week, month, etc) |
| People Don’t Buy Price, They Buy ______________________ | VALUE & SOLUTIONS |
| Specific Methods for Overcoming the Question of Price | Value analysis - Determine the best product for the money n Comparison of long-run costs and savings (Helps determine if the buyer would benefit more from a higher-priced, better-performing product) n Evaluation of the buyer’s present product |
| A good salesperson should try to close ________________________________ n but only after they have ____________________ sufficient information to their prospect, so that they can make an informed and successful decision | throughout the entire sales process, effectively communicated |
| When each step in the sales process is handled correctly, the close is the _____________to a successful sales presentation | natural conclusion |
| Your Prospect / Buyer will be both, _________ and __________ for your efforts to close them | relieved & grateful |
| Definition of a "close" | A question asked or an action taken by a salesperson designed to elicit a positive buying decision from the prospect. (at one point you have to ask them to buy). |
| 6 Perspectives on Closing | 1. should be NATURAL 2. should be PLANNED 3. closing is INTEGRATED through the whole presentation 4. it is not a SEPERATE EVENT at the end 5. each POINT OF AGREEMENT is a minor close 6. FAILURE TO CLOSE comes from a problem with a previous step |
| The Seller MUST Ease the Buyer’s Pain and _______ | REASSURE |
| When is the time to close? | a delicate combination of the Prospect's "buying signals", and your own "gut feeling". |
| Ways to ask for the sale | 1. ask whats the RISK 2. ask when is the NEXT JOB? 3. ask for an INDIRECT COMMITMENT 4. ask what is PREVENTING the sale from occurring 5. HUNT FOR OBJECTIONS 6. ask CREATIVELY 7. create an offer that ends with you asking "IS THAT FAIR ENOUGH?" |
| Recognize your prospect's buying signals | "CHEF" Method Cheek or Chin Hands Eye Contact Friendly Prospects |
| The Trial Close | asks for an opinion |
| A closing question | asks for a decision |
| 5 types of assumptive close (assuming the sale) | 1. Continuous-Yes close (yes, yes, yes, yes..) 2. Physical Action close 3. Order-Blank/Contract Close (put a contract in front of them) 4. Ownership close 5. Alternate of Choice Close (do you want it delivered today or tomorrow?) |
| The Direct Close | clearly ask for the order. Highly effective if you have earned the customer's respect. |
| Summary close/123 close | Summarize in sets of three items. word it as "we will give you this, that and the other" |
| Impending Event close | -indicate that if they do not act now they may not be able to buy in the future. (our rates are going up by x%). |
| Balance Sheet Close | great with Amiables (people that have hard time making a decision). do a pros & cons balance sheet- let the prospect do the balance sheet |
| The Trial-Order close | sometimes called the "puppy dog" close. you take the product home and then buy |
| The Call-Back close | each time you return present new ideas |
| After the close | Thank your new client for their order: |
Created by:
Camwalt