4. Needs Discovery
6. Handling Objections
7. Close the Sale
8. Post-Sale Customer Service
**Not always face-face contact
2. Secure Attention
3. Develop Interest
4. Establish Credibility
5. Opportunity to make a sales presentation(if approach was effective.)
2. Visual Factors — clothing, briefcase, grooming
3. Physical Actions — shake hands, eye contact
4. Attitude — friendly, enthusiastic
5. Professional habits — on time, clear agenda, ability to answer questions
6. Building Rapport — pronounce the prospect’s name correctly, look for common ground
2. All behavioral traits do not show up immediately
3. Behavior may be deliberately controlled by either party
4. An earlier event may influence either person’s current behavior
– Effects first impressions even though it may actually provide limited or shallow insight into the true person.
– Dress the Part — We all wear uniforms: Choose accessories carefully, dress appropriately, give attention to grooming
– You’re projecting an image — want the prospect to take you seriously, work with your physical characteristics
– Some accessory tips — Jewelry should be neutral and not related to an association or belief, should be of good quality, high quality pens, leather attache cases, avoid sunglasses while talking to prospects
2. Address the prospect by name (pronouncing it correctly)
3. State your name and company
4. Present your business card
2. Suggest a risk for failure to listen
2. Ask questions whose answers will reflect favorably on your product/service
2. Suggests interest in the prospects problem
3. Allows you to apply your benefits
2. Determine if prospect is cold, lukewarm, or red-hot
2. Make it sincere, specific, and of genuine interest
2. Would work well in a virtual meeting
2. It stirs interest
3. Permits a demonstration
4. Makes a multiple sense appeal
5. If bringing the actual product is not feasible, you must use other devices: A piece of literature, sample, model, picture
2. Use this spare thinking time to: — Anticipate where your prospect is going, mentally summarize the message, formulate a response, listen between the lines, use silence strategically
3. Maintain an open mind — avoid prejudgement, be patient, take notes, reinforce — paraphrase the customers meaning – ask questions to make sure you understand — let the speaker know you are listening, listen for ideas, do not try to get every word, focus your full attention — get rid of distractions, make & maintain eye contact, think about what the speaker is saying — not what you are going to say next, do not interrupt, listen to the words & try to picture what the speaker is saying, keep your body language neutral, realize that sometimes just listening is enough, be attentive yet relaxed, don’t interrupt & don’t impose your solutions, wait for the speaker to pause before asking questions, try to feel what the speaker is feeling, pay attention to what isn’t said — feelings, facial expressions, gestures, posture & other nonverbal clues.
2. Ask the right questions
3. To discover the prospects “hot button”
4. To establish purchase criteria
5. To agree upon a time frame for completion of negotiations
6. To gain agreement on the problem before beginning the actual presentation
2. Problem Questions: Here You Help Prospects Define Their Needs Explicitly — Do you know how much it costs to do your collecting internally?
3. Implication Questions: Get The Prospect To Discuss The Problem And How It Might Be Improved — Would it be important to you to recover a large share of delinquent accounts & bad checks faster than you are currently able to do?
4. Need – Payoff Questions: Help To Build Up The Value Of Your Proposed Solution In The Customer’s Mind. — If you could design the perfect collection agency, what would you want them to do for you?
1. Allows the prospect to move in any direction
2. Cannot be answered with a yes or no
3. Ordinarily begins with “How do you feel?” or “What do you think?”
4. Stimulates the prospect’s thinking and increases the dialogue
5. Helps uncover the dominant buying motive
6. Uncovers the true personality or behavioral style of the prospect
1. Uncover Specific Facts
2. Reduce prospect tension because they are easy to answer
3. Check understanding and receive feedback
4. Maintain control by directing the flow of conversation
5. Cement prospect commitment to a specific position
1. That you have been listening
2. That you understand their concerns
3. That what they say is important to you
4. Checks for mutual understanding
5. Invites the prospect to expand or clarify any point of disagreement
6. Narrows down generalizations and clears ambiguities
2. Allows the salesperson to rephrase what the prospect appears to have intended
3. Invites the prospect to expand or clarify any point of disagreement
4. Narrows down generalizations and clears ambiguities
2. Probing Questions — Help to uncover and clarify the prospect’s buying problem and circumstances. Obtain more specific information to fully understand the problem.
3. Confirmation Questions — Verify accuracy and assure a mutual understanding of information exchanged.
-What do you hope to accomplish?
-If you can achieve this result, what will it mean to you?
-What originally led you to this decision?
2. Allow buyer to develop positive personal attitudes toward your product and you.
3. Convert need into want and into the belief that your product can fulfill those wants.
4. Convince the buyer that not only is your product the best, but also that you are the best source to buy from.
— 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.
Each Unit of Conviction Contains: 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)
—Benefits… Are the value to the customer
Translating features into benefits is one of your most important skills.
Features to Benefits — Which, This, That
Benefits to Features — Because, Thanks to, On account of, As a result of, Due to, Since, For that reason
This product is nationally advertised, which means you 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.)
1. Salesperson must be prepared to substantiate the points presented during the sales presentation.
2.Salesperson must focus on key points of difference between your product & competitors (knowledge)
—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.
3 Principles in Using a Demonstration :
1. Concentrate the prospects attention to you
2. Follow the “tell them 3 times rule”
3.Get your prospect into the act
2. Proof of Buyer Benefits (Evidence to Support Claims):
3. Proof Devices: Demonstration, Facts & statistics (3rd party & your own company), testimonials, photographs & video, customer data (case histories), reprints, samples
4. Feeling of Ownership — During presentation (involved), Trial
Involve the customer in the product demonstration:
Involve the customer (prospect) while explaining a service:
Involve the customer with ideas and questions:
Happy customers only tell 3 to 4.
Golf Industry — 80% to 85% of unhappy customers to do not verbally complain — they just don’t come back.
Because the prospect wants to buy or is interested in buying, but needs clarification, wants a better deal, or must have a third party approval.
Because the prospect does not want to buy.
2. The Searcher — Often prospects just want more data. They have mentally decided they want to buy. They just want to be convinced. So convince them.
3. The Hidden Objection — Prospect will not reveal the real reason. Often quite personal, so prospect feels uneasy. Like the iceburg lurking below the surface.
4. The Stopper — An objection for which no solution can be found. Not every prospect is a fit for what you have to offer. The prospect has a legitimate reason for not buying… so move on.
2. Postpone the Answer — Acknowledge the objection, employ empathy, gives you time to present more benefits, allows you to maintain control, gives you time to think about your response, promise to get back to the question and write it down. If prospect absolutely insists, then answer it when it comes up. Used mostly when price concerns are stated before you are ready to answer.
3. Answer Immediately — Allows the prospect to concentrate on the rest of the sales story. Shows the prospect your sincerity. Prevents prospects from inferring your inability to answer. Of all the objections, the price question should be answered after need, value, and benefits have been discussed.
2. Confirm your understanding of the objection — clarify and classify the objection. Try to distinguish between genuine objections and excuses.
3. Acknowledge the prospect’s point of view. — Restate or rephrase in your own words. Use words such as, “I understand how you feel.” Prepare the prospect for your answer.
4. Select a specific technique to base your decision on. — the prospect’s social style, phase of the interview, the prospect’s mood, the number of times the objection has been raised, the type of objection (excuse versus a genuine concern or question).
5. Answer the Objection — say just enough to answer it.
6. Attempt to close — Continue the presentation if you do not succeed.
2. Compensation or Counterbalance Method — Admit the objection is valid. Describe some counterbalancing benefit.
3. Relate a case history or testimonial — describe the experience of a client whose situation is similar to that of the prospect.
4. Ask Why? or a Specific Question — Excellent for separating excuses from real objections. Ask questions that turn a broad general objection into a specific concern that can be answered.
5. Deny the Objection. (Direct denial involves refuting the opinion or belief of a prospect.) — Considered a high risk method of handling buyer resistance. If buyer resistance is not valid, there may be no other option than to refute it by providing accurate information. Be firm in stating your beliefs; be sincere and don’t be defensive.
6. Indirect Denial (Sometimes prospect’s objection is valid, or at least accurate to some degree.) — Best approach is to acknowledge that the prospect is correct. If initially appears as agreement with the customer’s objection. If done in a natural, conversational way it will not offend the prospect. Rephrase or have the prospect rephrase. Blame Yourself. Give the facts that answer the objection.
2. Price Breakdown — Break the price down – by day, week, or month (lowest denominator)
3. Presumption of Exclusivity — Stress the special features that only your product can offer. Sell quality and uniqueness if the buyer argues price. Must be an expert about your industry and product line. Make your price seem unimportant in comparison to the value received. Draw the picture clearly and convincingly — most buyers are fair-minded.
4. Comparison Method — When prospects are mentally comparing their present product with your product, make a complete comparison of the two. A demonstration can give a convincing answer to an objection. Comparison of your product’s features, advantages, and benefits against competitors. Do a comparison of long-run costs and savings. Use your company’s reputation to build trust and justify the higher price.
5. Sell Down Method — The common law of business balance prohibits paying a little and getting a lot. Be patient, focus on the benefits, and let the buyer tell you what features he can live without. There is a price point below which the buyer will not want to go. All prospects have a purchasing or buying range, find it. Unbundle.
48% of salespersons quit after 1 contact. 73% of salespersons quit after 2 contacts. 85% of salespersons quit after 3 contacts. 90% of salespersons quit after 4 contacts. Those 10% who go on past the 4th contact — end up with 80% of the business.
Know the numbers — “300” hitter is a superstar — failing 70% of the time.
Requirements — We will need shipment by May 15th. Our staff will need training.
Seeks other Opinions — Who are some other firms that have bought this product recently?
2. Trial Close — Can be used at any time during the sales process. May elicit a negative response because buyer is not ready to purchase. A trial close that works becomes the close.
3. Summary of Benefits Close — Summarize all the benefits vs. the costs and asked for the sale.
4. Assumptive Close — Allows the salesperson (when confident) to verbalize the assumption to see if it’s correct.
5. Special Concession Close (Impending Event) — Offers the buyer an extra incentive for acting immediately.
6. Multiple Options Close (Alternative Choice) — Gives the buyer multiple viable options
7. Balance Sheet Close — 2 Column List: “Reasons for Buying” and “Remaining Questions” Helps find out what’s holding the prospect back. List pros & cons of buying.
8. Management Close — Bring in your upper management to assist in negotiations and close.
9. Minor Point Close — Focuses the buyer on a small element of the decision.
10. Trial Order Close — This technique involves asking the prospect for a trial order with no obligation (risk). You either guarantee the money back, or provide the product free for a set amount of time.
11. Cost of Ownership Close — Rather than talking about price – this technique focuses on the long term total cost of ownership. Competing systems may seem cheaper, but when you take into account installation, maintenance, warranty and training over the lifetime of the product — this system is about half the price. If you buy a competing product, you are more than likely to replace it in two years. Our product will last you twice as long.
12. Combination Close — Using two or more closing methods.
10 to 15% — Price
50 to 70% — Poor Service
-Poor service and lack of follow-up are common causes of customer attrition.
-Follow Up Methods: Personal Visits, Telephone Calls, E-mail Messages, Letters or Cards, Entertainment, Call Reports, Should encompass all key people (Receptionists, Technical Personnel, Stock/Receiving Clerks, Management Personnel, All Sales Personnel.)
Plan For Follow-Up: Stay Informed — Changes & Problems. Determine Contact Frequency — Needs of both you and customer considered. Phone Calls — Verifications, Check for Problems, Information, Inventory. Send Mail (Email, Letter or Card) — No specific problems – keep in touch – grow the relationship.
1. Full-Line Selling — Recommending products & services related to the main item sold.
2. Cross-Selling — Selling products or services not directly related to the previously sold item.
3. Up-Selling — Effort to sell better quality or newer version of product.
20 Percent on prospects and smaller accounts.
5. Develops compensation plans
6. Grades sales force productivity
7. Motivates sales staff
Greater customer & salesperson satisfaction.
Greater salesperson motivation (ownership).
Pay for performance
Plan for staff incentives
Control salespersons activities
Be competitive & yet economical