Professional Selling Ch 6-10 Final

Sales Dialogue Definition

Business conversations between buyer and salesperson to initiate, develop, and enhance customer relationships

Sales Call Definition

In person meeting between the buyer and the salesteam

Sales Presentations Definition

Comprehensive communications designed to persuade the customer to make a purchase

What do Canned Presentations Consist of?

Scripted sales calls, memorized presentations, and automated presentations

T/F: Canned Presentations do not vary from buyer to buyer

T/F: True

T/F: Written proposals are often accompanied by sales calls before and after the proposal is submitted

True

What is the most frequently used format of communication by sales professionals?

Organized Sales Dialogues and Presentations

Organized Sales Dialogues and Presentations do what?

they address individual customer and different selling situations

What is the function of the executive summary in a sales proposal?

To demonstrate salesperson's knowledge about the customer's need and creates a desire in the customer to read it

What does the customer needs and proposed solution include in a sales proposal?

the situation analysis and the recommended solution

What is the seller profile in a sales proposal?

Information about the selling company

What information does the pricing and sales agreement include in a sales proposal?

The pricing and delivery options

What does the implementation and timetable include in a sales proposal?

Details about the additional information required to sign the contract

When Evaluating Sales Proposals, what does reliability mean?

Reflects the seller's ability to identify creative and practical business solutions that will help the buyer achieve their goals and objectives

When Evaluating Sales Proposals, what does assurance mean?

increases the buyer's trust and confidence in the seller's ability to deliver successful results

When Evaluating Sales Proposals, what does tangibles mean?

enhances and differentiates the communication of the seller's message and invites readership by its content, structure, and overall appearance.

When Evaluating Sales Proposals, what is responsiveness?

demonstrates the seller's willingness to work closely with the buyer to understand their unique situation, present viable business solutions, and ensure achievement of promised results

When Evaluating Sales Proposals, what is empathy?

Refers to understanding and considering the buyer's perspective, emotions, and needs, and tailoring the proposal to address those specific requirements.

T/F: An organized sales dialogue happens over multiple visits

True

Should features or benefits drive your messaging?

Benefits

How do you engage the customer?

Request an appointment, with a specific time

The most effective sales dialogues: (6)

1) Are planned and practiced by salespeople

2) Encourage buyer feedback

3) Focus on creating value for the buyer

4) Present value in an interesting and understandable way

5) Engage and involve the buyer

6) Support customer value through objective claims

What are check-backs or response checks?

Seeking feedback from the buyer

Ex) "How does this sound to you"

What are confirmed benefits?

Benefits the buyer has indicated are of interest

What are elements of verbal support?

Voice characteristics, examples and anecdotes, comparisons and analogies

What are voice characteristics?

The pitch and speed of speech, which salespeople should vary to emphasize key points

What is an example?

A brief description of a specific instance used to illustrate features and benefits

What is an anecdote?

A type of example presented in the form of a story describing a specific incident or occurrence

What is a comparison?

A statement that points out and illustrates the similarities between two points

What is an analogy?

A special and useful form of comparison that explains one thing in terms of another . "like"

What are sales aids?

The use of printed materials, electronic materials, and product demonstrations to engage and involve buyers

What are reasons to use sales aids? (9)

-Capture prospective buyer's attention

-Generate interest in the recommended solution

-Make presentations more persuasive

-Increase the buyer's participation and involvement

-Provide the opportunity for collaboration and two-way communication

-Add clarity and enhance the prospect's understanding

-Provide supportive evidence and proof to enhance believability

-Augment the prospect's retention of information

-Enhance the professional image of the salesperson and selling organization

Why are product demonstrations so useful?

The product itself is the ultimate sales tool. It is much easier to sell a product than pictures of one.

What should you let the buyer do during a product demonstration?

Have the buyer use, hold, and feel the product

What is an arrival tactic for a group sale?

Arrive at the location for the meeting before the buying group arrives.

How should you establish eye contact during a group sale?

Try to connect with each individual or small subgroups for only a few seconds, moving through the entire group over the course of the presentation

What is sales resistance?

Buyer's objections to a product or service during a sales presentation

Is sales resistance bad?

no, it is a normal part of a sales conversation

What is the seller strategy if the buyer wants to avoid the sales interview?

set appointments to become part of the buyer's daily routine

What is the seller strategy if the salesperson has failed to prospect and qualify properly?

Ask questions to verify the prospect's interest

What is the seller strategy if the buyer will not buy on the first sales call

A regular call on the prospect lets the prospect know the salesperson is serious about the relationship

What is the seller strategy if the prospect does not want to change the current way of doing business?

Salesperson must help the prospect understand there is a better solution than the one the prospect is currently using.

What is the seller strategy if the prospect has failed to recognize a need?

Salesperson must show evidence that sparks the prospect's interest

What is the seller strategy if the prospect lacks information on a new product or on the salesperson's company?

Salesperson must continually work to add value by providing useful information

What are some types of objections? (5)

1) No need

2) Production or Service Objection

3) Company Objection

4) Price is too high

5) Time objection

What does LAARC stand for?

-Listen

-Acknowledge

-Assess

-Respond

-Confirm

What do you use the LAARC acronym for?

overcoming sales resistance

What does forestalling mean when dealing with sales resistance?

Take care of the objection before the prospect brings it up

What does direct denial mean when dealing with sales resistance?

Give a rather harsh response that the prospect is wrong

What does indirect denial mean when dealing with sales resistance?

Soften the blow hen correcting a prospect's information

What does translation or boomerang mean when dealing with sales resistance?

Turn a reason not to buy into a reason to buy

What does compensation mean when dealing with sales resistance?

Counterbalance the objection with an offsetting benefit

What does questioning or assessing mean when dealing with sales resistance?

Ask the buyer assessment questions to gain a better understanding of what they are objecting to

What is the Third-party reinforcement technique to answer sales resistance?

Use the opinion or data from a third party source to help overcome the objection

What is the free-felt-found technique to answer sales resistance?

Salesperson relates that others actually found their initial opinions to be unfounded

What is the Coming-to-that technique to answer sales resistance?

The salesperson tells the buyer that he or she will be covering the objection later in his or her presentation

How should a salesperson allow the prospect to make a rational choice?

By giving him/her enough mental space to make a decision

What are commitment signals?

Favorable statements a buyer makes during a sales presentation that signals buyer commitment

How are commitment signals determined?

Through the use of trial commitments

What is a trial committment?

Determines the attitude of the buyer toward a particular feature or benefit

What are favorable buying signals? (7)

1) Makes a positive statement about the product

2) Asks who else has bought the product

3) Asks about price, delivery, installation, dates, or service

4) Asks about methods of payment

5) Begins to study and handle the product

6) Appears more relaxed

7) Begins to interact more intently with the salesperson

What is a direct commitment?

Simply ask for the order

What is a legitimate choice/alternative choice?

Give the prospect a limited number of choices

What is a Summary Committment?

Summarize all the confirmed benefits to which there has been agreement

What is a T-account/balance sheet commitment?

Summary close on paper

What is a success story commitment?

Salesperson tells a story of a business that successfully solved a problem by buying his or her products

What is a Standing-Room-Only close?

This close puts a time limit on the client in an attempt to hurry the decision to close.

What is the Assumptive Close?

The salesperson assumes that an agreement has been reached. The salesperson places the order form in front of the buyer and hands him or her a pen

What is the Fear or Emotional Close?

The salesperson tells a story of something bad happening if the purchase is not made

What is the Continuous Yes Close?

This close uses the principle that saying yes gets to be a habit. The salesperson asks a number of questions, each formulated so that the prospect answers yes.

What is the Minor Points Close?

Seeks agreement on relatively minor (trivial) issues associated with the full order. "Do you prefer cash or charge?"

12 Commandments for closing a sale

1) Remain seated

2) Present a proposal in writing

3) Communicate clearly

4) Make eye contact

5) Always carry a pen (and paper)

6) Use humor

7) Ask one more time

8) Stay with the buyer

9) Always treat prospects like buyers

10) Stay confident

11) Be positive

12) Always smile

What are ways to establish customer relationships? (6)

-The Golden Rule (Treat others as you would want to be)

-Be accountable

-Follow Through

-Build goodwill

-Handle complaints in a timely and thoughtful manner

-Process requests for rush deliveries (or anything else in your power) willingly

What does it mean to build goodwill?

Convert new customers into lifetime customers by continually adding value to the product

Is focusing on the long term a relationship enhancer or detractor?

enhancer

Is focusing on the short term a relationship enhancer or detractor?

detractor

Enhancer or detractor: Deliver more than salesperson promises

Enhancer

Enhancer or detractor: Overpromise - underdeliver

Detractor

Enhancer or detractor: Call regularly

Enhancer

Enhancer or detractor: Call sporadically

Detractor

Enhancer or detractor: Add value

Enhancer

Enhancer or detractor: Show up only for another order

Detractor

Enhancer or detractor: Keep communication lines open

Enhancer

Enhancer or detractor: Be unavailable to the customer

Detractor

Enhancer or detractor: Take responsibility for problems

Enhancer

Enhancer or detractor: Lie, exaggerate, or blame someone else

Detractor

What are the 4 Components of Effective Follow-Up?

1) Interact

2) Connect

3) Know

4) Relate

What does Interact entail?

The salesperson acts to maximize the number of critical encounters with buyers in order to encourage effective dialogue and involvement

What does Connect entail?

The salesperson maintains contact with the multiple individuals in the buying organization influencing purchase decisions and manages the various touch points the customer has to ensure consistency in communication

What does Know entail?

The salesperson coordinates and interprets the information gathered through buyer-seller contact and collaboration to develop insight regarding the buyer's changing situation, needs, and expectations

What does Relate entail?

The salesperson applies relevant understanding and insight to create value-added interactions and generate relationships between the salesperson and the buyer.

What is an intranet?

private network accessible only to internal employees. Has a password

What is an extranet?

A controlled extension of the intranet network that allows access to customers or suppliers.

What are Customer Relationship Management (CRM) Systems?

A system that links buyers and sellers into a rich communication network to establish and reinforce long term, profitable relationships

In relationship enhancement activities, what is the salesperson's responsibility to provide useful information?

-Relevant

-Timely

-High quality

In relationship enhancement activities, what is the salesperson's responsibility to expedite orders/monitor installation?

-Track orders

-Inform on delays

-Help with installation

In relationship enhancement activities, what is the salesperson's responsibility to train customer personnel?

Train even when the contract does not call for it

In relationship enhancement activities, what is the salesperson's responsibility to correct billing errors?

-Go over all orders

-Correct problem before customer recognizes it

In relationship enhancement activities, what is the salesperson's responsibility to remember the customer after the sale?

-Set up a regular call schedule

-Let customer know you will be back

In relationship enhancement activities, what is the salesperson's responsibility to resolve complaints

-Preferably prevent the need to complain

-Ask customer how he or she wants complaint resolved