Principles of Selling Flashcards

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Terms Definitions
Approach
 
First Impression
1) Appearance
 
2) Attitude
Approach
 
Techniques (3 categories)
1) Opening with a Statement
2) Opening with a Demonstration
1 & 2 have objectives:

a. Capture Attention
b. Stimulate Interest
 
c. Provide Transition into Presentation
 
3) Opening with Questions
Approach
 
Statement techniques
Introductory
*first time meeting
*basic introduction of yourself
 
Complimentary
sincerity
show knowledge of their company
 
Referral
use another's name; be careful they may not like them!
 
Premium
creativity is a must
leave/ give relevant to product as a thank you for their time
etc..
Approach
 
Demonstration Techniques
Product
place product on table SILENTLY
-wait for the response
 
Showmanship
do something unusual to grab attention;
be APPROPRIATE, be careful with comedy
 
 
Approach
 
Questions Techniques
Customer Benefit
ask Question implying benefits
anticipated the response when creating the CB question
Use their response throughout the presentation
 
Curiosity
DO something to spark curiosity
 
Opinion
Ask their opinion; flattering
 
Shock
design the Q to make them seriously think about the product category or relevant subject
 
Multiple Question - SPIN
 
SPIN
Situation
Problem
Implication
Need-Payoff
 
SPIN Steps
Step 1: Ask about general situation as it relates
 
Step 2: Ask about specific Problems or difficulties relative to situational question
 
Step 3: Ask about the implications of the problems or indirect affects
 
Step 4: Ask the Need-Payoff question
Why ask questions or "probes"??
1) Obtain Information
 
2) Develop two-way communication
 
3) Increase their participation
Rephrasing Questions
1) Clarify meaning
 
2) Determine needs
 
**continue probing / rephrasing until you have found true objection or problem
Rules for using Questions
1) Question only when you can anticipate answer
 
2) Wait for the answer; even if it takes minutes!
 
3) Listen
 
REALLY LISTEN
 
Elements to the Sales Presentation
Purpose
Three Essential Steps
Features, Advantages, Benefits - FAB
Visual Aids
Proof Devices
Demonstrations
Preparation & Practice
Handling Difficulties During Presentation
Sales Presentation Mix
Elements to Sales Presentation
 
Purpose
1) Knowledge
 
2) Beliefs
 
3) Desire
 
4) Attitude
 
5) Conviction
Elements to Sales Presentation
 
3 Essential Steps
Step 1: Fully discuss FABS
 
Step 2: Present Marketing Plan
*how they can resell
*how they can use

Step 3: Explain Business Proposition
What's in it for them?
Elements of Sales Presentation
 
FABs
Product FABs
 
Marketing FABs
 
Business Prop. FABs
 
**use persuasive communication & participation techniques
Elements to Sales Presentation
 
 
Sales Presentation Mix
Participation
Proof
Visual Aids
Dramatization
Demonstration
Persuasive Communication
Elements to Sales Presentation
 
 
Proof Devices
"prove it"
 
Past Sales
Guarantee
Testimonials
Company Proof Results
Research
Elements to Sales Presentation
 
 
Visuals
 
People retain 10% of what they hear
and
50% of what they see
Handling Difficulties
in the Sales Presentation
Interruptions
1) be considerate; wait quietly & patiently
2) restate where you were/points just made
3) regain interest with demos or participation
 
Competition
1) refer only if absolutely necessary
2) move on quickly away from convo around it
3) always compare products not companies
 
 
Handling Objections
 
basics
1. Plan for them
2. Anticipate & Forestall
3. Handle them as they arise
4. Be Positive
5. LISTEN - hear them out
6. Understand the objection
7. Meet it!
6 categories of objections
Hidden
Timing
Need
Price
Product
Person - YOU!
Techniques for addressing objections
1. Dodge
2. Pass up
3. Rephrase as questions
4. Postpone
5. Boomerang
6. Ask questions
7. Denial
8. Indirect denial
9. Compensation
10. Third party
Trial close after objection
know if you have overcome objection
 
then IMMEDIATELY go to next SELL sequence
OR
CLOSE SALE!
 
ALWAYS ASK FOR THE ORDER
even if you are 100% sure you can't overcome an objection
When to close
 
How to know?
Buying Signals
*they ask questions (how much...)
 
*they ask for someone's opinion
 
*they relax, become friendly
 
*they pull out a PO
 
*they carefully examine product again
Essentials to Closing
(12)
1. Think success
2. Plan the sales call
3. Confirm needs in the approach
4. Great presentation
5. Use trial closes during and after presentation
6. Find the REAL objections
7. Overcome these objections
8. Use trial close after overcoming each
9. Summarize BENEFITS as related to the NEEDS
10. Use trial close after #9
11. Ask for Order
12. Leave the door open.  Be a professional
Alternative Choice close
question is assuming they WANT the product
...how many?
 
Customer is Indecisive
**Forces decision
Assumptive Close
Assumes the buy...
"I'll call in the order" ; want it gift wrapped?...
 
Customer is a friend
You can take care of the "small things"
Compliment Close
 
when customer is expert or Egocentric
OR
hostile
 
allows them to make decision
&
positive stroking
 
Summary-of-benefits Close
summarize FABs with trial close right before asking for order
 
when customer is indecisive
Forces decision
Continuous Yes Close
like the summary, but get them to say yes to each summarizing point
 
when indecisive
forcing decision
OR
when hostile
giving positive strokes
6 common mistakes of Closing
1. Tells not Sells
2. Overcontrols call; asks too many
close-ended Questions
3. Dont respond to needs with Benefits
4. Doesnt recognize needs; Benefits premature
5. Doesn't handle/see negative attitudes
6. Weak closing statements
 
Key to Long term business relationships
 
Trust, genuine care for each other, wisdom/knowledge
 
Caring
Joy
Harmony
Patience
Kindness
Moral Ethics
Faithfulness
Fairness
Self-control
 
"Live for Others"
Levels of Friendship
Level 1: Acquantances
 
Level 2: Friendship
 
Level 3: Intimate Friends
Customer Satisfaction/Retention
Satisfaction leads to retention, and often very difficult to break a loyal customer
 
CRITICAL to long-term success
 
Technology (automation) for excellent service
less time on paperwork = more time with clients
Follow-up
critical to satisfaction & referall
 
create goodwill
 
 
account penetration
 
know buyers, personell, and their firms 
 
prospect needs with others in the company once the sale has been initiated...
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