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Sales Cycle (again)

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Prospecting Preapproach Approach Needs Discovery (Identifying Needs) Presentation Handling Objections Closing the Sale Customer Service After the Sale

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Developing a persuasive presentation

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Big difference between presenting data vs information

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Strive for passion, not perfection

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Sales presentations must be listener centered. People want to have their problems solved

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Selection of Solution

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You must determine what kind of buying decision to recommend to the prospect (match your product's benefits to the clients buying motives). Configure solution (you may have more than one product to choose from). Convince the prospect that the solution you offer is the best possible one (make appropriate recommendation if its not the best).

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3 fundamental selling truths

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If you don't know your product - people will resent your efforts to sell it. If you don't believe in your product - no amount of personality or technique will cover that fact. If you can't sell your product with enthusiasm (passion) - the absence of it will be infectious. ..... Mark McCormack "What They Don't Teach You At The Harvard Business School"

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The presentation

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Your customer is more likely to buy your message if the buy into your passion. Salespeople make the fatal mistake of making a presentation. It's not a presentation - it's a performance

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Key points of a great presentation

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Doing your homework prior to the presentation. Knowing what you want to say. Believing what you say. Having passion in how you say it. Providing valuable information. Providing usable information. Providing timely information. Being completely prepared & rehearsed.

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Begin with planning

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Everything begins with planning "In reality, planning and preparing for the sales presentation begin when a name is first recorded in your contact management system" Final step of preparing for the is to crystallize all your plans and decide exactly how to proceed with making the presentation You need a clear + focused objective for your message= determined by the type of individual or company on which you are selling When developing a brand new sales call, plan on spending one hour of preparation time for each minute of presentation time.

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The purpose of the presentation

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Provide knowledge using the features, advantages, and benefits of your product, marketing plan, and business proposal. Allow buyer to develop positive personal attitudes toward your product and you. Convert need into want and into the belief that your product can fulfill those wants Convince the buyer that not only is your product the best, but also that you are the best source to buy from

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Call objective

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Most successful sales people have specific objectives for each sales interview.

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The single call close

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appropriate for selling items that can be ordered upon the decision of one person; if a buying center is involve, multiple calls are necessary

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The professional Selling Skills Call Planner

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Technology that plugs into sales force CRM and can track accelerated sales cycles, collaboration with sales teams, minimizing productivity losses, storing and sharing best practices in call planning, and gaining insights into sales strengths and weaknesses. Can increase profit margin by 33% with a combo of call planning tool and online business resources

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Informative Presentation strategy

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emphasizes factual information. Commonly used for new products and services.

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Reminder Presentation strategy

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maintain ongoing awareness of product. Used primarily for current customers.

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Persuasive Presentation strategy

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To influence the prospect's beliefs, attitudes, or behavior and to encourage buyer action. Used when a need is identified. Strongest appeal at beginning or end (not middle).

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The memorized Presentation

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Quick Productivity - if you are new, it can be faster than developing one Beneficial during initial learning periods Reliable Information Ensures the right information gets to the prospect Proven Effectiveness These presentations have been field tested and refined Confidence Building Feel more secure knowing that the presentation works for other salespeople. It should be internalized to the point that it is a normal, personal message. Usually "I can do this" and room to wing it Should never sound memorized Never answer a question with "ah..I think..I suck at life "

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Outline Presentation

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Salesperson prepares an outline of the presentation in written form Must have developed several "units of conviction" (which are considering all the info available about the prospect. Mini presentations in your large presentations. The mini presentations hit the hot buttons. ) It reveals existing need for any additional information Makes it possible to check needs and goals against suggested solutions This style takes a great deal of thought and prep. Same process that most experienced public speakers use. usually follow the same general outline for most presentations, however, several approaches are used for openings. companies especially those whose product or service entails extensive research into customer needs, require salespeople to prepare an outline presentation in written from. (ex is procter & gamble) -It reveals existing need for any additional info -Makes it possible to check needs and goals against suggested solutions

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Units of Conviction

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Units of Conviction: Concise, carefully prepared "mini-presentations" that are used as building blocks in constructing the information the salesperson presents. Prepare units of conviction ahead of time Practice them until they are comfortable They become a permanent part of your selling arsenal Learn how to personalize units of conviction When the individual units of conviction are combined, they form what is referred to as a product-analysis worksheet

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Each unit of conviction contains

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Feature (A fact about the product or service) Transitional phrase or bridge statement Benefit (What's in it for me?) Evidence or proof statements Tie-down (trial close)

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Extemporaneous Presentation

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Highly successful salespeople who have been in the industry for years use this. Seen as "don't prepare" but they prepare in a different way ..collect a ton of info on the person They are master people watchers They understand humans, ask questions and listen

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Salesman's Curse

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You know your product better than you know how your client's business can use it

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Product analysis

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When the individual units of conviction are combined, they form what is referred to as a product-analysis worksheet Preparing a written product analysis worksheet helps you evaluate the various characteristics of your product so that you are better able to present it to your prospects When you prepare units of conviction and add them to your store of available options, they become a permanent part of your selling arsenal

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A single unit of conviction consists of FIVE elements:

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1.) A feature of your product or service 2.) Transitional phrase 3.) The benefits the feature provides 4.) Evidence to support your claims 5.) A tie-down question to gain the prospect's agreement

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Features

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Tangible and intangible qualities of the product or service you sell Facts are the same no matter who uses the product Can be detected through one of the five senses

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Benefits

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Value or worth that the user derives from the product or service. Only five or four will be key motivators to a prospect, and these will be different for each prospect. Find out which are the key motivators Value to the customer

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Features to benefits

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-Which -What -That

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Benefits to features

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You will experience increase profit because...and tie into feature YOU SELL BENEFITS THE CUSTOMER GETS THE BENEFIT MORE SO BENEFIT IS MORE IMPORTANT Because Thanks to On account of As a result of Due to Since For that reason

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Transitional Phrases or Bridge Statements

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Transitional Phrases or Bridge statements allow a salesperson to connect a product's features to its benefits. The prospect is asking, "What's in it for me?" These phrases help answer this question. ex: "This is beneficial to you because..."

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More on Transitional Phrases or Bridge Statements

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This product is nationally advertised, which means your will benefit from more presold customers. Feature to benefit. You will experience increased profits because the first order includes point of purchase advertising materials for the Valentine's Day promotion. Benefit to Feature.

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Value Proposition

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Value Proposition - the set of key benefits & values that the company promises to deliver to satisfy needs. Salesperson must be prepared to substantiate the points presented during the sales presentation. Salesperson must focus on key points of difference between your product & competitors (knowledge).

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Evidence to Support Claims

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Demonstrations Testimonials Facts and Statistics Samples Examples or Case Histories

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Demonstrations

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Show the product being used Hands on

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Testimonials

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Bring letters from satisfied customers Have a referral call the prospect ahead of time

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Facts and statistics

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They help back up what you say

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Samples

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Appeal to one or all of the senses (ARE HUGE) -Test drives etc

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Examples or case Histories

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It must be authentic, so use many details to show you are familiar (book says it should be about someone the prospect knows or can contact for verification) Relate it directly to the prospect's circumstance

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The tie-down

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essential step in building units of conviction, although it usually consists no more than a single question that asks for the prospect's agreement. Goal is to translate features into benefits for the prospect, to provide the necessary evidence to prove your points, and to gain a commitment to act Important throughout the presentation to check on understanding and agreement and to make sure the prospect is ready to proceed to the next point. Ask series of Q's that the answer will be a yes from the prospect

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Order of units of conviction

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Feature Transitional Phase Benefit Evidence Tie down "I think you can get an idea of the blah blah blah"

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Effective Presentation tactics

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Having your prospect physically involved is the single most important aspect in the presentation process." .......... Jeffrey Gitomer

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Guidelines for value added Presentations

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Strengthen presentation with effective demonstration (shows how features & benefits can solve problems). Keep presentation simple & precise. Know your buyer (type).

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Participation (in effective presentation)

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You must get the prospect involved Ask questions and listen to their answers Encourage the prospects to ask questions

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Getting the Customer Involved

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Involve the customer in the presentation setup: Ask for help with an easel, projector or video machine. (ehhh don't do) Ask for something - paper, special market, eraser, etc. Ask him(her) to plug something in, or help you move something. Take the offered cup of coffee or soda (always do this) Getting the customer involved in the set-up gives you additional opportunities for small talk and humor (relationship building).

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Involve the customer in the product demonstration

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Get the customer (prospect) physically involved. Let them run the demo, push the button, work the copier, drive the car. Try to let the prospect lead the entire demonstration. The more the customer does - the more ownership they take. Look for buying signals: Smiles, words of praise, questions and exclamations. Demonstration is an effective method of adding showmanship to the presentation while achieving the purpose of the presentation. Involves more than one of the physical senses in the selling process. People remember 20% of what they hear and 20% of what they see BUT they remember 50% of what they see AND hear

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Involve the customer (prospect) while explaining a service:

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Get the prospect to follow along: Read aloud (don't do this) Take a test. Play a part in the demonstration Do anything that is fun and creates interest. Time: A 20 minute sales pitch is not as effective as a 10 minute sales pitch.

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Involve the customer with ideas and questions

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How do you see yourself using ..... How do you see this working in your _____? Do you see how easy it is to operate? What are the features (benefits) you like best? How do you think this will benefit you/your company?

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When you have finished the demonstration

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take things away from the customer, turn things off & remove all literature. This eliminates all distractions & keeps you in control of the selling process. If the customer asks to see something or play with something again - it's a buying signal - close the sale!

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A well planned Demonstration will...

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A well planned demonstration will: Catch and peak the buyer's interest Fortify your points and get buyer involved Help the prospect understand the benefits Keep you interested and stimulated Cut down on the number of objections Help you close the sale

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Demonstration benefits

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Improved communication and retention Attracts customer attention Adds sensory appeal Stimulates interest Creates desire for product Proof of buyer benefits (evidence to support claims) Proof devices Demonstration Facts & statistics (3rd party & your own company) Testimonials Photographs & video Customer Data (case histories) Reprints Samples Feeling of ownership During presentation (involved) Trial

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FOUR Principles to follow in using a DEMONSTRATION (for sales presentation)

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1.) Concentrate the Prospect's attention on YOU 2.) Follow the "tell 'em three time" rule 3.) Get your prospect into the act 4.) Keep your prospect glued to the screen

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Concentrate the Prospect's attention on YOU (demonstration)

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You have to focus the prospect's attention on one thing: WHAT YOU ARE SAYING Do an attention grabbing opening

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Follow the "tell 'em three time" rule (demonstration)

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At the beginning of the presentation... 1.) Tell prospects what you're going to share with them 2.) then tell it to them during the demonstration 3.) at the end, tell them what you just told thme.

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Get your prospect into the act (demonstration)

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Ex: taste your food, use the device etc. Intangible: photo, chart etc

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Keep your prospect glued to the screen (demonstration)

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Virtual meetings called "webinars" Pitfalls of virtual meetings: an average person has 5 to 8 second attention span so....keep slide simple, think of your slide as mini movies, make the most of your voice, interact often, ask questions, do a dry run, start your meeting early, use two or more computers

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Paint a mental picture using metaphors

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dramatic visual image a good hook effective ways to reinforce concepts, while building rapport and winning people over to your way of thinking

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Guidelines for Demonstrations That Add Value

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Develop creative demonstrations Use custom-fitted demonstrations Choose the right setting Decide what sales tools to use Check sales tools Cover one idea at a time and confirm agreement Decide what features to demonstrate Decide how to get the customer involved Appeal to all senses Balance telling, showing, and involvement Rehearse the demonstration

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Selling Tools for Effective Demonstrations

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Quantify the solution (ROI) Product and plant tours Models Photos, illustrations, and brochures Portfolio of support materials Letters of reference Pictures of clients using product Pictures of completed installations Reprints of articles on product Catalogs show product line and specifications Graphs, charts, and test results Bound paper presentations Laptop computers and demonstration software Laptop computers & video. Virtual reality. Samples

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When you have finished with a demonstration

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When you have finished the demonstration-take things away from the customer, turn things off and remove al literature -This eliminates all distractions and keeps you in control of the selling process -If the customer asks to see something or play with something again-it's a buying signal-close the sale!

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Audiovisual Presentation Fundamentals

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Do not rely too heavily on "bells and whistles" Keep them simple - 1 idea per slide. Keep plenty of "white space" & place text in similar areas on each slide. You should not read the slide - they should complement your presentation. Be sure the prospect knows the purpose of the presentation Be prepared to stop the presentation to clarify a point or allow questions At conclusion, review key points and allow prospect to ask questions Be time conscious.

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Sales aids

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Audio, visual, audiovisual Many are visually oriented

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The organizer or Flip Chart

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Helpful if meeting environment is not conductive to a computer or audio-visual based presentation Flip charts are effective and reliable

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A well designed organizer

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1.) built around user benefit 2.) Foster two way communication 3.)Increases the closing rate by leading naturally to that point 4.)Helps you tell the complete story in less time 5.) Helps interview get back on track after an interruption

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Visuals you can prepare for your self

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Letters from existing customers of how great you are/product Business cards of existing clients, note thanking the sales person Pictures of clients using the product Pics of product installations in customers' plants or offices.

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Elements of an Effective Group Sales Presentation

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Rule One: Identify the titles and roles of those who will attend Rule Two: Check out the meeting room in advance Rule Three: Be sure your presentation is characterized by clarity and simplicity Rule Four: Anticipate questions and be prepared with answers

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Evaluating your presentation

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The lost secret of evaluating your presentation skills: RECORD YOURSELF.

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Situational selling

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Fitting yourself to the situation and making each contact with the prospect beneficial to your ultimate purpose of closing a sale

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The setting

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The prospect's own office is usually the best place if interruptions can be controlled.

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Power Lunch

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Inviting the prospect to lunch at a carefully selected restaurant gives you an opportunity to present your product or service with advantages: away from office and interruptions, you are the host so the guest has to listen, atmosphere is nonthreatening, relaxing over a meal

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Interruptions

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Start all over again if they leave for a crisis

Chapter 11 Sales "Making the presentation" – Flashcards

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