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© Vlerick Business School
THE SALES PROCESS
© Vlerick Business School
ADAPTIVE SELLING
Adaptive selling entails: Gathering information about each customer
Observing customers’ reactions during the sales call
Showing agility by making rapid adjustments
Tailoring the sales presentation to each customer’s social style
© Vlerick Business School
THE KEY TO UNDERSTANDING SOCIAL STYLES
Assertiveness Competitive
Rapid movers
Quick decision makers
Initiative takers
Time sensitive
Responsiveness Friendly
Talkative
Approachable
Less time sensitive
Slower decision makers
More sensitive to others’ feelings
© Vlerick Business School
SOCIAL STYLES MATRIX
5 |
Amiable“Show concern for me and my problems”• Supportive• Respectful• Willing• Dependable• Personable
Expressive“I like competent, imaginative salespeople”• Personable• Stimulating• Enthusiastic• Dramatic• Inspiring
Driver“Show me bottom line results”
• Determined• Demanding• Thorough• Decisive• Efficient
Analytical“What I need are practical suggestions”• Industrious• Persistent• Serious• Vigilant• Orderly
ASSERTIVENESS
Low
High
HighLow
RESPONSIVENESS
© Vlerick Business School
PERCEIVED RISK
In many sales situations, the most important perception to be dealt with is risk
Salespeople must provide evidence that their solutions will work, reducing perceived risk
© Vlerick Business School
TYPES OF RISK IN PURCHASING DECISIONS
Financial
Social
Psychological
Performance
7 |
© Vlerick Business School
STEPS IN THE SALES PROCESS
1. Lead Generation
2. Lead qualification
3. Needs Identification: SPIN Selling
Situation
Problem
Implication
Need Payoff
4. Feature/Benefit Presentation
5. Marketing Plan and Business Proposal
6. Close
7. Objection Handling8
© Vlerick Business School
LEAD GENERATION
Pre-approach The search for people and organizations that have
a high likelihood of buying
Prospecting Identifying and qualifying the specific people who
might have a want or need that the salesperson’s market offerings could satisfy
© Vlerick Business School
THE IMPORTANCE OF PROSPECTING WITH EXISTING CUSTOMERS
Existing customers can switch suppliers if current service is not up to par
Existing customers are being called on by competitive salespeople who are always presenting new information
It is much less expensive to call on existing customers than to find new ones
Existing clients are often the best source of new customers
© Vlerick Business School
PROSPECTING TECHNIQUES
Identification
Qualification
Three Categories
Internal sources of prospects
Prospects found by market intelligence
Prospects generated by specific actions
© Vlerick Business School
DEVELOPING A LEAD GENERATION PROGRAM
Market segmentation
Lead generation Direct-mail
Telephone selling
Personal visits
Buying customer lists
Using EAGLES
© Vlerick Business School
TURNING SUSPECTS INTO BONA FIDE PROSPECTS
Identify MAD Customers
Money to Buy
Authority to Buy
Desire to Buy
© Vlerick Business School
FIRST IMPRESSION
You have only one chance to make a favorable first impression Your looks Your actions Your manner of speaking
Salespeople must be conscious of the communication signals they are sending Visual Vocal Verbal/Non-verbal Three V’s
© Vlerick Business School
COURTESY AND COMMON SENSE
Ask permission to sit
Never clutter the prospect’s desk or floor without asking his/her permission
Watch the tone of your voice
Always be courteous but not overly friendly or pushy
Never be presumptuous
© Vlerick Business School
OPENING THE PRESENTATION
What makes some salespeople standout?
The best sales professionals know: How to emphasize benefits in their presentations
That the most effective presentations must start and finish with the prospect’s needs and wants as the focus
A key question for salespeople as they endeavor to maintain their competitive position is to ask, “What could make the customer more delighted?”
© Vlerick Business School
PLANNING PRESENTATION OPENERS
Openers are introductions All sales presentations need effective and brief
introductions
Salespeople must, in the opener, introduce themselves, the company, and the reason for calling on the prospect
Show the prospect that you are aware of his/her situation and that you have a product that can help
An effective opening statement is essential to get the prospect’s attention
Salespeople sometimes find that a minute or two of friendly conversation relaxes prospects and makes for an effective opening strategy (rapport building)
© Vlerick Business School
PROSPECT BENEFITS
Selling benefits is what the sales presentation is all about
To use a benefit opener effectively You must learn as much about the prospect as
possible
You must know that the prospect can benefit from your product in the way you describe
© Vlerick Business School
OTHER TYPES OF OPENERS
Benefits Third Party referral (AKA- Name dropping) Sincere compliment
Which will be best for the different social styles?
© Vlerick Business School
TRIAL CLOSING
Trial closing is a process that helps you find out where a person is in the commitment to buy
The goal of the questions is to receive a 'Yes' commitment to move forward in the sale
The easiest way to formulate a trial close question is by using an 'If/Then' scenario
© Vlerick Business School
STEPS IN THE SALES PROCESS
1. Lead Generation
2. Lead qualification
3. Needs Identification: SPIN Selling
Situation
Problem
Implication
Need Payoff
4. Feature/Benefit Presentation
5. Marketing Plan and Business Proposal
6. Close
7. Objection Handling21
© Vlerick Business School
THE SPIN QUESTIONING STRATEGY
Situation Questions• Achieve fact-finding objectives• Have low selling impact• Useful at focus of receptivity
Problem Questions• Achieve uncovering satisfaction
objectives• Have moderate selling impact• Useful at focus of dissatisfaction
Implication Questions• Achieve objectives of developing and
channeling dissatisfaction• Have high selling impact• Useful at focus of dissatisfaction and
focus of powerNeed-payoff Questions
• Achieve objectives of rehearsing and selectively channeling customer attention
• Have high selling impact• Useful at focus of dissatisfaction and focus of power
© Vlerick Business School
RESPONDING TO TOUGH QUESTIONS
When your prospect asks you tough questions at this stage, you should: Restate the question
Ask “What do you think?” “What makes you ask?”
Start with a general reply
Don’t fake it
You must listen to be able to respond!
© Vlerick Business School
EFFECTIVE LISTENING
Effective listening consists of three discrete stages in the listening process:
1. Sensing The actual receipt of messages
2. Processing Activities that occur in the mind of the listener
3. Responding Acknowledgement of the receipt of the message
© Vlerick Business School
STEPS IN THE SALES PROCESS
1. Lead Generation
2. Lead qualification
3. Needs Identification: SPIN Selling
Situation
Problem
Implication
Need Payoff
4. Feature/Benefit Presentation
5. Marketing Plan and Business Proposal
6. Close
7. Objection Handling 25
© Vlerick Business School
SOLUTION SELLING
Solution selling is the stage at which the salesperson Assumes a knowledgeable role
Begins to earn the right to be an advisor to the prospect
Customizes her presentation of product features and benefits to the prospect’s specific needs and wants
© Vlerick Business School
V = Q/PThe value of a delivered product or service increases as the quality of that product/service increases or the price of that product/service declines
V = Value, Q = Quality, and P = Price
© Vlerick Business School
VALUE-ADDED SELLING ATTITUDES
Pursue excellence
Define value in customer terms
Seek ways to add value, not cost
Sell to the customer’s needs, not against the competition’s package
Seek ways to deliver proactive value-added service
Value-added selling is a team effort
Responsiveness to the customer is at the heart of value-added selling
© Vlerick Business School
SELL BENEFITS NOT FEATURES
Deal only in facts
Sell the prospect results What the product will do--not what it is!
© Vlerick Business School
CHECK THEPROSPECT’S TEMPERATURE
Trial closing is like taking the temperature of the buyer’s interest
The temperature question or “trial close” is not a closing question The salesperson is not asking for a decision to buy
Avoid asking closed-ended questions
© Vlerick Business School
YOUR MISSION
Ask as many open-ended questions as possible Who
What
When
Where
How
Why
© Vlerick Business School
STEPS IN THE SALES PROCESS
1. Lead Generation
2. Lead qualification
3. Needs Identification: SPIN Selling
Situation
Problem
Implication
Need Payoff
4. Feature/Benefit Presentation
5. Marketing Plan and Business Proposal
6. Close
7. Objection Handling 32
© Vlerick Business School
MARKETING PLAN
© Vlerick Business School
BUSINESS PROPOSAL
© Vlerick Business School
GAINING CONVICTION
To successfully perform the conviction step the salesperson should be sure to:
Explain what the product or service is and how it works
Explain the facts and features and their related benefits
Establish the prospect's belief in the salesperson by presenting evidence
Explain any related information that the prospect would like to know
© Vlerick Business School
TRIAL CLOSE
After answering all the prospect's questions and concerns, it is time to trial close again
The salesperson can ask the prospect any of the following questions: “What do you think?"
"How does all of this sound?"
"How do you feel about what I’ve said so far?"
© Vlerick Business School
OUTCOMES OF A PRESENTATION
Regardless of the outcome of any one sales presentation, there is more work to be done A prospect buys and becomes a customer
A customer buys again (rebuy situation)
A customer or prospect makes no purchase but requests additional information
A prospect expresses no interest in working with the salesperson's company
© Vlerick Business School
STEPS IN THE SALES PROCESS
1. Lead Generation
2. Lead qualification
3. Needs Identification: SPIN Selling
Situation
Problem
Implication
Need Payoff
4. Feature/Benefit Presentation
5. Marketing Plan and Business Proposal
6. Close
7. Objection Handling 38
© Vlerick Business School
HANDLING OBJECTIONS
Effective salespeople are able to: Anticipate objections
Answer them with confidence
Probe for more concerns
Quickly get back to motivating the prospect/customer to make a decision in favor of purchasing
© Vlerick Business School
VALUE IMPROVEMENTS
Value improvements can be anything that will help prospects see that their overall situation can be improved through the purchase of a product or service
© Vlerick Business School
OVERCOMING OBJECTIONS
The salesperson’s formula for handling objections has five parts:
1. Listen very carefully to the prospect's objection
2. Clarify the concern
3. Cushion the objection
4. Classify the objection to determine when and how to answer it
5. Answer the objection with concern, conviction, and enthusiasm
© Vlerick Business School
CLASSIC OBJECTION-HANDLING TECHNIQUES
Forestall the objection
Compensate
Feel, felt, found
© Vlerick Business School
STEPS IN THE SALES PROCESS
1. Lead Generation
2. Lead qualification
3. Needs Identification: SPIN Selling
Situation
Problem
Implication
Need Payoff
4. Feature/Benefit Presentation
5. Marketing Plan and Business Proposal
6. Close
7. Objection Handling 43
© Vlerick Business School
EMPLOYING CLOSING TECHNIQUES
Why should salespeople employ closing techniques? Many prospects find it difficult to make decisions Prospects want to make the right decisions, but
complete certainty in buying never exists Many prospects will postpone decisions if salespeople
let them After a sales presentation, prospects often feel
confused and hesitant The salesperson’s goal is to
explain/demonstrate how the benefits of the product or service outweigh the risks associated with buying
© Vlerick Business School
TRADITIONAL CLOSING TECHNIQUES
Assumptive Close
Summarizing the Benefits
Reserving an Advantage
Single Benefit Close
Similar Situation Close
Price Reduction Close
Asking for a Trial Order
© Vlerick Business School
IF A SALE IS MADE
Before leaving a customer who has agreed to a sale: Show appreciation for the customer's business, but
do not gloat Reassure the customer that the decision is a good
one Solicit sales leads Complete all necessary paperwork, and finalize the
details Be sure to leave with a good understanding of the
customer's expectations
© Vlerick Business School
IF A SALE IS NOT MADE
When a sale is not made, the salesperson still has duties to perform: Duties to the customer
Duties to the sales organization
THANK YOU!