Sales Final

What must exist for a sale to happen?

There must be a product or service, a potential buyer with a need, pain, or want, and a process leading to an exchange of money.

What is the key to successful selling according to Keenan?

Asking “why” questions to understand the customer’s pain, needs, and how things could be better.

Why is change difficult for most people?

Because homeostasis (staying the same) is what most people prefer; change involves risk and discomfort.

What are feasibility or user buyers?

People who will actually use or interact with the product or service.

What is an accept buyer?

Someone who cares about cost and might be in finance or accounting.

What is a conceptual buyer?

An individual who thinks in big-picture terms, often an owner or executive.

What is a coach in the buying process?

Someone guiding or advising the decision-maker, often managing the team or department involved.

What is a gatekeeper?

An admin or receptionist who controls access to other decision-makers.

What is the difference between inside and outside sales?

Outside sales involve visiting customers on-site; inside sales are conducted remotely via phone or email.

What is a hunter in sales?

Someone who seeks out and acquires new customers.

What is a farmer in sales?

Someone who manages existing accounts and helps grow or retain them.

What are direct and indirect channels?

Direct channels sell straight to the end customer; indirect channels involve resellers or distributors.

What are the six steps in the sales process from Meisenheimer

Prospecting & research, surveying/investigating, presenting/demonstrating, closing, and follow-up/servicing.

What is the purpose of prospecting and research?

To understand the customer and identify potential needs before engaging.

What is the “strength surveying”?

Asking questions to understand the customer’s pain points and needs.

What is the significance of closing?

Gaining commitment and transitioning the prospect.

What is the importance of building “pursuit value” in large sales?

It helps justify the purchase by emphasizing the value and benefits of the solution.

When is the best time to bring up price in a call?

Between 38 and 46 minutes into an hour-long call, after building rapport and understanding needs.

What are implication and need-payoff questions?

Implication questions explore the downstream effects of problems; need-payoff questions focus on benefits of solving those problems.

How do top performers listen during sales calls?

They listen more than they talk, averaging about 54% listening and 46% speaking, and ask targeted questions.

How should objections be handled?

Acknowledge them, understand the reason, and strategize on how to address or overcome them calmly.

What’s a draw in sales compensation?

An advance on commissions that is paid upfront and recouped from future sales.

What are common compensation plans?

Salary plus commission, bonus, or a combination plan.

Why do most salespeople prefer a combination plan?

It provides a stable income with upside potential, motivating performance.

How often are sales typically paid?

Monthly or quarterly, with some being paid annually or semi-annually.

What is a key trait of high-performing salespeople?

They speak briefly (about 45 seconds at a time), ask targeted questions, and balance listening with talking.

How much should a salesperson talk during a call according to recent AI analysis?

About 46% of the time, with the rest spent listening and engaging the prospect.

What is an implied need?

A need that is suggested or inferred but not explicitly stated by the customer.

What is an explicit need?

A clearly stated want or requirement by the customer.