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SELLING FOR RESULTS
- Masterclass
MICHAEL ABBIW
MGA CONSULTING GHANA LIMITED
OBJECTIVES
The participants should be able to;
1. Understand the Sales Process
2. Deliver Presentations that SELL
3. Handle Objections Effectively
4. Close the Sale
5. Follow-Up and Cross-Sell after the Sale
6. Manage their Pipeline
7. Develop Sales Action Plans
2
OUTLINEOFTHEPRESENTATION
1. The Sales Process
2. Lead Generation & Prospecting
3. Pre-Approach
4. The Approach
5. The Presentation & Handling Objections
6. Closing the Sale
7. Follow-Up after the Sale
3
THESALES
PROCESS
4
THESALESPROCESS
The Sales Process refers to;
“a systematic and tested approach that will help the sales
team close more deals and reduce the level friction
between introducing a customer to a product or services and moving
them through to a closed deal.”
5
THESALESPROCESS–FUNNEL/CYCLE
Prospecting and Lead
Generation
Pre-Approach
Approach
Presentation
Closing
the Sale
Follow-
Up
6
BENEFITSOF
DEFININGTHESALES
PROCESS
7
Integrate Integrate consistency and learning
Measure Measure sales performance adequately
Focus Focus sales efforts on the customer/prospect
Improve Improve Sales bottlenecks
Develop Develop more productive sales people
Increase Increase your overall sales
LEAD
GENERATION
&
PROSPECTING
8
LEADGENERATION
9
Lead generation involves identifying prospective customers and
qualifying their likelihood to buy in advance of making a sales call.
It is the process of;
i. Tempting clients to you
ii. Getting them interested in your offerings and
iii. Persuading them to willingly provide their personal
information.
WHOISALEAD?
A lead is a prospect that has some level of potential of becoming
a customer.
Not: Business Enquiry or List of Names
10
LEADGENERATIONPROCESS
1.INQUIRYGENERATION
• Set campaign objectives
• Analyze and select
campaign targets
• Select campaign media
• Develop a message
platform
• Develop a campaign offer
• Create communications
• Plan fulfillment materials
2. RESPONSE PLANNING
The effort you put into
ensuring your prospects’
responses are properly
handled and tracked.
3. RESPONSE CAPTURE
Internal processes must
be set up in advance to
capture and record the
key codes for later
analysis.
11
LEADGENERATIONPROCESS–cont’d.
4.INQUIRYFULFILLMENT
Inquiries ask for more
information, so prepare
and give it to them.
5.INQUIRYQUALIFICATION
Nothing is more
important than correctly
qualifying sales leads
before they are delivered
to the sales people.
6.LEAD NURTURING
When an inquiry is only
partially qualified and
does not make the grade
of readiness for the
sales team, it needs to be
nurtured.
12
LEADGENERATIONPROCESS–cont’d.
7.LEADTRACKING
Measuring the results of the lead-
generation campaigns.
Attributing a closed sale to a marketing
campaign.
8.MARKETRESEARCHFORLEADGENERATION
Lead generation is much improved with
the help of advance research, like any
marketing activity.
13
LEADGENERATIONACTIVITIES
OUTBOUND
•Display Ads
•Pay-per-Click Ads
•Content Syndication
•Direct Mail Advertisements
•Event Marketing
•Road Shows
INBOUND
•Content Marketing
•Social Media Marketing
•SEO
•Website Optimization
•Email Marketing
•Advertisement
14
PROSPECTING
The process of identifying
potential buyers.
Consistent prospecting is vital
to a sales professional’s success and the
success of the whole sales organization.
15
SOURCESOFPROSPECTING
•Friends, Relations and
Acquaintances
•Referrals – Endless
Chain
•Cold Calling
•Observation
•Non-Competing Sales
Force
•Direct Mail, Direct
response Adverts, Sales
Letters
•Educational Seminars
•Tradeshows and
Demonstrations
•Database
•Telemarketing
•Prospecting by Non-
Sales Employees
•Networking
•Centers of Influence
•Internet
•Lists and Directories
•Trade Publications
16
BreakOutSession-GroupAssignment&Presentation?
What are the three(3) key lead generation strategies that can be employed within
the organization at a manageable cost, which can help generate high level
quality leads for the sales staff?
Explain the basis of your selected strategy.
One team member will present and the rest of the team members will take
questions from the other teams and the facilitator.
17
PRE-
APPROACH
18
PRE-APPROACH
During the Pre-approach phase of the personal selling process, sales professionals
try to understand the prospect’s;
19
OUTCOMESOFTHEPRE-APPROACH
1. It should disclose the need and ability to buy.
2. It should provide information that will enable the seller to tailor the
presentation to the prospect.
3. It should provide information that may keep the sales person from making
serious tactical errors during the presentation.
4. It should increases the sales person confidence
20
GATHERINGINFORMATION
ABOUTTHECOMPANY
Demographics
Company News
Financial Performance
ABOUTTHECOMPANY’S
CUSTOMERS
Customer
Demographics
Size of Customer Base
What Customers are
Saying About Your
Prospects
ABOUTTHECURRENT BUYING
SITUATION
Type of Purchase
Competitor Current
Provider
Current Pricing
21
GATHERINGINFORMATION–cont’d.
ABOUTTHECONTACTPERSON
Title and Role in the Company
Professional Background
Personal Information
Essential Problem(s) your Contact Needs to
Solve
Motivation for Buying
ABOUTYOUREXISTINGCUSTOMERS
Your current customers are your best
prospects.
There’s no better place to increase your
sales than with your existing customers.
22
SOURCESOFINFORMATION
•Online Searches
•Business Directories
•Trade Journals
•Blogs, Social Networks, And Online
Forums
• Professional Organizations
• People
• Complementary Salespeople
• Competitive Salespeople
23
INDIVIDUALASSIGNMENT
Note down Five (5) information, one
each from the five areas of gathering
information as presented that you
usually obtain, before you approach a
client.
Also write down how one(1) the
information gathered has helped you in
your sales presentation.
24
Some selected write-ups will be
presented to the team.
Participants will be required to use a real
life experience of using the pre-
approach information gathered to make
a sales presentation .
THE
APPROACH
25
MAKEAGOODFIRSTIMPRESSION
You only get one chance to make a first
impression.
•Keep in mind that you are actually
introducing yourself.
26
THESIXC’SOFTHESALESAPPROACH
CONFIDENCE – Adequate
preparations builds confidence.
CREDIBILITY – show competence,
offer valuable solutions and exhibit that your
are trustworthy. Do you homework on the
customer.
CONTACT – Make every approach
personal, include an appreciative remark.
COMMUNICATION – Build good
rapport. Smile and respond to the prospects
body language and posture.
CUSTOMIZATION – Tailor the
approach to the individual prospect.
COLLABORATION – Create a
system where both you and your customer
get more out of the situation.
27
MAKINGAGOODAPPROACH
INTRODUCE YOURSELF
G: Greeting - “Hello, Good Afternoon”
N: Name - “I’m Michael…”
A: Affiliation - “…with MGA Consulting.”
P: Purpose - “I understand your sales
figures are not what you envisaged and are
looking to develop your team to achieve a
better performance this year, I have got the
solution for you.”
BE PROFESSIONAL
Salespeople should be;
o Clean
o Well dressed
o Make good eye contact
o Smile
o Appear confident
o Have a solid handshake, and
o Be on time for appointments.
28
MAKINGAGOODAPPROACH–cont’d.
GET THE CUSTOMER’S ATTENTION
Example:
“I Appreciate You Meeting
Me Today. I Wanted To
Share How We’re Able To
Cut 30 Percent From Your
Sales Cost, Whilst
Increasing Revenue.”
SHOW INTEREST
When you show interest
in others and take time
to listen to their
thoughts, concerns,
stories, and questions,
you put them at ease,
build rapport, and learn
more about what their
needs are.
DRESS THEPART
Appearance is an
important part of the
first impression, so
make sure to put
careful thought into
what you wear to your
sales call.
29
PRESENTATION
30
THREEMAJORPRESENTATIONFORMATS
STIMULUS-RESPONSE
The salesperson tries
one appeal after
another, hoping to "hit
the right button".
FORMULASELLING
Consists of information
that must be provided in
an accurate, thorough,
and step-by-step
manner to inform the
prospect.
Treats every prospect
the same.
NEED-SATISFACTION
Format emphasizes
probing and listening
by the salesperson to
identify needs and
interests of prospective
buyers.
31
PROCESSOFPRESENTATION
PREPARATION
Take time out to
consider your
message; tailor your
presentation to your
audience; and practice.
Research your
prospect.
MESSAGE
A persuasive message
is the most important
part of a sales
presentation.
Set clear objectives
for your
presentation.
STRUCTURE
Deliver a short
presentation, with a
clear structure
based around the
benefits you offer
for maximum
impact.
32
PROCESSOFPRESENTATION–cont’d
VISUALAIDS
Effective visual aids can be your most
powerful tool in a presentation.
They can more than double audience
recall rates.
DELIVERY
The only way to really prepare for a
presentation is to go over it several
times.
Practice by actually speaking out loud.
Don’t forget to close.
33
PRESENTATIONTIPS
 Be excited about the product.
 Relax while selling
 Allow the prospect to interact with
the product.
 Observe body language and facial
expressions
 Do not interrupt the customer
34
 Limit the choices a prospect sees.
 Adapt the sales presentation to the
prospect
 Look for opportunities for the
prospect to agree he or she will benefit
from owning the product.
 Follow through on promises.
THEOBJECTION
Objections are a common part of the
selling process.
THERE ARE NO SALES
WITHOUT OBJECTIONS.
35
COMMONOBJECTIONS
QUESTION OFVALUE
“I don’t have a need for
that.”
LACKOFURGENCY
“I need to think about it.”
PERCEPTIONOFALACKOF
QUALITY
“Your competitor has a
similar product, and I trust
that company more because
it’s been around longer.”
36
COMMONOBJECTIONS–cont’d.
LACK OFMONEY TOMAKE THEPURCHASE
“I’ve already spent my budget,”
CONFLICT WITHPRODUCT FEATURES
“It’s more powerful than I need for my work.”
37
TECHNIQUESTOHANDLEOBJECTIONS
ACKNOWLEDGEAND
CONVERTTHEOBJECTION
Use the objection as a
reason for buying.
"The price is too high." The
reply: "Yes, the price is high
because we use the finest
materials. Let me show
you...."
POSTPONE
When the objection will
be dealt with later in the
presentation.
"I'm going to address that
point shortly. I think my
answer would make better
sense then."
AGREE AND NEUTRALIZE
Salesperson agrees with
the objection, then
shows that it is
unimportant.
"That's true and others have
said the same. However, they
concluded that issue was
outweighed by the other
benefits."
38
TECHNIQUESTOHANDLEOBJECTIONS–cont’d.
ACCEPT THEOBJECTION
Sometimes the objection
is valid.
Accept it and attempt to
stimulate further
discussion on the
objection.
DENIAL
When a prospect's
objection is based on
misinformation and
clearly untrue, it is wise
to meet the objection
head on with a firm
denial.
IGNORE THE OBJECTION
This technique is used
when it appears that the
objection is a stalling
mechanism
39
STRATEGIESINELIMINATINGOBJECTIONS
• Use a Testimonial
• Interpret it as a Question.
• Make it Easy to Object
• Listen Carefully
• Be Polite and Respectful
The Law of Six
This law says that there are never more
than six objections to any offering.
You may have price objections, quality
objections, competitive objections,
capability objections, reputation
objections, or newness objections.
Develop a bulletproof answer for each
of your major objections.
40
GROUPEXERCISE–BREAKOUTSESSION
Each Group is to choose one of
following objection categories/clusters;
1. Price Objections
2. Quality Objections
3. Competitive Objections
4. Capability Objections
5. Reputation Objections
6. Newness Objections.
Each group is to come out with
Each group should write down three
(3)objections (questions, criticism or
complaints) you have heard.
You are to develop a bulletproof answer
for each of your major objections listed.
Each group will be required to make a
presentation of their objections and the
answers.
41
CLOSING
THESALE
42
CLOSINGBASICS
“A close is anything that puts the
customer in a position involving some
kind of commitment.”
A close is just a way to ask for the
order, their signature or the money.
43
WHYTHECLOSEISDIFFICULT
FEAR OF REJECTION
It is the fear of the prospect saying “no.’’
FEAR OF FAILURE
It is the fear of making a mistake, the
fear of buying the wrong thing, the fear
of paying too much, the fear of being
criticized by other people.
44
CLOSINGPRINCIPLES
• The right time to close is when the
customer is ready to buy
• Look for more than one opportunity
to close the sale
• Buyer resistance is natural and should
be expected
• Buyers seldom ask you for the order
45
• Closing the Sale is an integral part of
the sales process
• No salesperson ever closed every sale
• Selling is a `numbers game’
• Certain key ratios apply to your sales
activity
PREPARINGTOASKFORTHEORDER
The Ascending Close
Involves a series of questions, each of
which leads to the next, with all
questions requiring a “yes” answer.
Ask six questions that require a “yes”
answer to the benefits that your product
or service offers.
The Invitational Close
You simply issue a direct invitation to
buy what you have just described.
Ask, “Well then, why don’t you give it a
try?”
46
SIGNALSTHATAPROSPECTISREADYTOCLOSE
•Asking about availability, delivery, and
add-on services
•Asking about pricing and payment
options
•Asking about features or quality
•Asking questions to learn more about
the business
•Asking for samples or a repeat of the
demonstration
•Asking about other products the
business carries
•Asking for referrals of customers
47
BASICTECHNIQUESTOHELPCLOSESALE
1. End with a small choice
2. End with small “yeses”
3. End with a bargain
4. End with a “join the club” invitation
5. End with a payment method
6. End with a test drive
7. End by asking for the sale
48
INDIVIDUALASSIGNMENT
Participants would be called to share how they
closed a business with one of the technique
discussed.
Each presenter is to use a different technique.
The Race is on.
49
THE
FOLLOW-UP
ANDAFTER
SALES
50
THEFOLLOW-UP
Professional selling requires
customer follow-up.
The follow-up stage includes making
sure;
 Item or service purchased has been
delivered and installed
 Customer concerns are
addressed
51
SAMPLEFOLLOW-UPPROCESS
Day 1
Thank them for being a Customer. Send
a standard thank you email, letter or
message.
1 Month
Assess the overall experience.
3 Months
Elicit product feedback. Ask them to be
a reference.
6 Months
Secure referrals. Invite them to share
their experiences.
9 Months
Express gratitude. Warm them up for
renewal.
11 Months
Secure critical feedback to prepare for
renewal.
52
CROSS-SELLING,UPSELLINGANDDOWNSELLING
•It can cost four times as much
to sell to a new customer compared to
an existing one.
•If you are not effectively cross-selling
and up-selling, you are leaving money
on the table every time you close a
sale.
53
CROSS-SELLING
“Selling an additional product or
service to an existing customer.”
Concentrates on what you can to
contribute to their business and
organizational issues.
Not what you can sell to them.
UPSELLING
“…a sales technique whereby the
customer is prompted to purchase
more expensive items [or]
upgrades… in an attempt to make a
more profitable sale.”
Converting an initial order into a more
profitable order.
DOWNSELLING
Offering simpler and cheaper versions
of a product to customers who are not
going to buy the initially chosen product.
Down-Selling increases
1. Sales
2. Brand Loyalty
56
WHYITDOESN’THAPPENOFTEN
FEAR
The fear that “asking for more” raises
the risk of losing the sale.
It could increase revenues by 25% just
by improving the management of their
current clients.
WRONGMINDSET
The biggest reason is the wrong
mindset.
THETIMETOSTART
From the beginning of the sales process, you should be continually
looking for ways to get the most out of every sale.
The worst time to start thinking about cross-selling and upselling is at the end
of the sales cycle.
58
EFFECTIVECROSS-SELLINGPROCESS
 Identify cross-sell opportunities
 Develop the key characteristics of
your target customer
 Develop and execute a plan
 Compare and select key customers to
pursue
 Take action
 Monitor
 Solidify relationships
 Teach the cross-selling “service”
mindset
 Continuously communicate your
capabilities to customers
 Making a case for cross-selling
UPSELLINGTECHNIQUES
 Treat it like a normal sale.
 Be Prepared
 Show the Benefits
 Be Reasonable
 Empower Your E-Commerce
 Best Value
 Add Stimulus
 Use Instructions
 Mention on Early Stages
 Don’t Push It Too Hard
DOWNSELLING
Down-selling means offering simpler
and cheaper versions of a product to
customers who are not going to buy
the initially chosen product.
Can increase sales and brand loyalty.
You need to be very delicate when
down-selling as you need to find out
your customer's budget and offer
cheaper products without offending
the customer.
61
REVIVINGDORMANTACCOUNTS
Your company can lose customers for three main reasons:
1. The customers no longer need your company’s services.
2. Your customers prefer competitors’ offerings.
3. Your customers have had a poor experience with the company and no
longer wish to deal with you.
HOWDOYOUDOIT?
1. Records – identify dormant
accounts.
2. Reasons – understand reasons for
dormancy.
3. Respond - give clients a solution to
the reasons.
4. Incentives – Give customers more
reason to buy.
5. Loyalty – give them a reason to
always buy.
THEGROUNDISFERTILE
Cross-Selling and Up-selling can
 raise revenues,
 increase retention, and
 cut expenses.
Overall, applying the techniques
can increase profits attributable
to cross-selling by between 50 to
100 percent in the near term.
Management must be strongly
committed to improving cross-
selling performance.
It is a challenging initiative, but
great rewards can grow from this
very fertile ground.
65

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SELLING FOR RESULTS - Masterclass

  • 1. SELLING FOR RESULTS - Masterclass MICHAEL ABBIW MGA CONSULTING GHANA LIMITED
  • 2. OBJECTIVES The participants should be able to; 1. Understand the Sales Process 2. Deliver Presentations that SELL 3. Handle Objections Effectively 4. Close the Sale 5. Follow-Up and Cross-Sell after the Sale 6. Manage their Pipeline 7. Develop Sales Action Plans 2
  • 3. OUTLINEOFTHEPRESENTATION 1. The Sales Process 2. Lead Generation & Prospecting 3. Pre-Approach 4. The Approach 5. The Presentation & Handling Objections 6. Closing the Sale 7. Follow-Up after the Sale 3
  • 5. THESALESPROCESS The Sales Process refers to; “a systematic and tested approach that will help the sales team close more deals and reduce the level friction between introducing a customer to a product or services and moving them through to a closed deal.” 5
  • 7. BENEFITSOF DEFININGTHESALES PROCESS 7 Integrate Integrate consistency and learning Measure Measure sales performance adequately Focus Focus sales efforts on the customer/prospect Improve Improve Sales bottlenecks Develop Develop more productive sales people Increase Increase your overall sales
  • 9. LEADGENERATION 9 Lead generation involves identifying prospective customers and qualifying their likelihood to buy in advance of making a sales call. It is the process of; i. Tempting clients to you ii. Getting them interested in your offerings and iii. Persuading them to willingly provide their personal information.
  • 10. WHOISALEAD? A lead is a prospect that has some level of potential of becoming a customer. Not: Business Enquiry or List of Names 10
  • 11. LEADGENERATIONPROCESS 1.INQUIRYGENERATION • Set campaign objectives • Analyze and select campaign targets • Select campaign media • Develop a message platform • Develop a campaign offer • Create communications • Plan fulfillment materials 2. RESPONSE PLANNING The effort you put into ensuring your prospects’ responses are properly handled and tracked. 3. RESPONSE CAPTURE Internal processes must be set up in advance to capture and record the key codes for later analysis. 11
  • 12. LEADGENERATIONPROCESS–cont’d. 4.INQUIRYFULFILLMENT Inquiries ask for more information, so prepare and give it to them. 5.INQUIRYQUALIFICATION Nothing is more important than correctly qualifying sales leads before they are delivered to the sales people. 6.LEAD NURTURING When an inquiry is only partially qualified and does not make the grade of readiness for the sales team, it needs to be nurtured. 12
  • 13. LEADGENERATIONPROCESS–cont’d. 7.LEADTRACKING Measuring the results of the lead- generation campaigns. Attributing a closed sale to a marketing campaign. 8.MARKETRESEARCHFORLEADGENERATION Lead generation is much improved with the help of advance research, like any marketing activity. 13
  • 14. LEADGENERATIONACTIVITIES OUTBOUND •Display Ads •Pay-per-Click Ads •Content Syndication •Direct Mail Advertisements •Event Marketing •Road Shows INBOUND •Content Marketing •Social Media Marketing •SEO •Website Optimization •Email Marketing •Advertisement 14
  • 15. PROSPECTING The process of identifying potential buyers. Consistent prospecting is vital to a sales professional’s success and the success of the whole sales organization. 15
  • 16. SOURCESOFPROSPECTING •Friends, Relations and Acquaintances •Referrals – Endless Chain •Cold Calling •Observation •Non-Competing Sales Force •Direct Mail, Direct response Adverts, Sales Letters •Educational Seminars •Tradeshows and Demonstrations •Database •Telemarketing •Prospecting by Non- Sales Employees •Networking •Centers of Influence •Internet •Lists and Directories •Trade Publications 16
  • 17. BreakOutSession-GroupAssignment&Presentation? What are the three(3) key lead generation strategies that can be employed within the organization at a manageable cost, which can help generate high level quality leads for the sales staff? Explain the basis of your selected strategy. One team member will present and the rest of the team members will take questions from the other teams and the facilitator. 17
  • 19. PRE-APPROACH During the Pre-approach phase of the personal selling process, sales professionals try to understand the prospect’s; 19
  • 20. OUTCOMESOFTHEPRE-APPROACH 1. It should disclose the need and ability to buy. 2. It should provide information that will enable the seller to tailor the presentation to the prospect. 3. It should provide information that may keep the sales person from making serious tactical errors during the presentation. 4. It should increases the sales person confidence 20
  • 21. GATHERINGINFORMATION ABOUTTHECOMPANY Demographics Company News Financial Performance ABOUTTHECOMPANY’S CUSTOMERS Customer Demographics Size of Customer Base What Customers are Saying About Your Prospects ABOUTTHECURRENT BUYING SITUATION Type of Purchase Competitor Current Provider Current Pricing 21
  • 22. GATHERINGINFORMATION–cont’d. ABOUTTHECONTACTPERSON Title and Role in the Company Professional Background Personal Information Essential Problem(s) your Contact Needs to Solve Motivation for Buying ABOUTYOUREXISTINGCUSTOMERS Your current customers are your best prospects. There’s no better place to increase your sales than with your existing customers. 22
  • 23. SOURCESOFINFORMATION •Online Searches •Business Directories •Trade Journals •Blogs, Social Networks, And Online Forums • Professional Organizations • People • Complementary Salespeople • Competitive Salespeople 23
  • 24. INDIVIDUALASSIGNMENT Note down Five (5) information, one each from the five areas of gathering information as presented that you usually obtain, before you approach a client. Also write down how one(1) the information gathered has helped you in your sales presentation. 24 Some selected write-ups will be presented to the team. Participants will be required to use a real life experience of using the pre- approach information gathered to make a sales presentation .
  • 26. MAKEAGOODFIRSTIMPRESSION You only get one chance to make a first impression. •Keep in mind that you are actually introducing yourself. 26
  • 27. THESIXC’SOFTHESALESAPPROACH CONFIDENCE – Adequate preparations builds confidence. CREDIBILITY – show competence, offer valuable solutions and exhibit that your are trustworthy. Do you homework on the customer. CONTACT – Make every approach personal, include an appreciative remark. COMMUNICATION – Build good rapport. Smile and respond to the prospects body language and posture. CUSTOMIZATION – Tailor the approach to the individual prospect. COLLABORATION – Create a system where both you and your customer get more out of the situation. 27
  • 28. MAKINGAGOODAPPROACH INTRODUCE YOURSELF G: Greeting - “Hello, Good Afternoon” N: Name - “I’m Michael…” A: Affiliation - “…with MGA Consulting.” P: Purpose - “I understand your sales figures are not what you envisaged and are looking to develop your team to achieve a better performance this year, I have got the solution for you.” BE PROFESSIONAL Salespeople should be; o Clean o Well dressed o Make good eye contact o Smile o Appear confident o Have a solid handshake, and o Be on time for appointments. 28
  • 29. MAKINGAGOODAPPROACH–cont’d. GET THE CUSTOMER’S ATTENTION Example: “I Appreciate You Meeting Me Today. I Wanted To Share How We’re Able To Cut 30 Percent From Your Sales Cost, Whilst Increasing Revenue.” SHOW INTEREST When you show interest in others and take time to listen to their thoughts, concerns, stories, and questions, you put them at ease, build rapport, and learn more about what their needs are. DRESS THEPART Appearance is an important part of the first impression, so make sure to put careful thought into what you wear to your sales call. 29
  • 31. THREEMAJORPRESENTATIONFORMATS STIMULUS-RESPONSE The salesperson tries one appeal after another, hoping to "hit the right button". FORMULASELLING Consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect. Treats every prospect the same. NEED-SATISFACTION Format emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers. 31
  • 32. PROCESSOFPRESENTATION PREPARATION Take time out to consider your message; tailor your presentation to your audience; and practice. Research your prospect. MESSAGE A persuasive message is the most important part of a sales presentation. Set clear objectives for your presentation. STRUCTURE Deliver a short presentation, with a clear structure based around the benefits you offer for maximum impact. 32
  • 33. PROCESSOFPRESENTATION–cont’d VISUALAIDS Effective visual aids can be your most powerful tool in a presentation. They can more than double audience recall rates. DELIVERY The only way to really prepare for a presentation is to go over it several times. Practice by actually speaking out loud. Don’t forget to close. 33
  • 34. PRESENTATIONTIPS  Be excited about the product.  Relax while selling  Allow the prospect to interact with the product.  Observe body language and facial expressions  Do not interrupt the customer 34  Limit the choices a prospect sees.  Adapt the sales presentation to the prospect  Look for opportunities for the prospect to agree he or she will benefit from owning the product.  Follow through on promises.
  • 35. THEOBJECTION Objections are a common part of the selling process. THERE ARE NO SALES WITHOUT OBJECTIONS. 35
  • 36. COMMONOBJECTIONS QUESTION OFVALUE “I don’t have a need for that.” LACKOFURGENCY “I need to think about it.” PERCEPTIONOFALACKOF QUALITY “Your competitor has a similar product, and I trust that company more because it’s been around longer.” 36
  • 37. COMMONOBJECTIONS–cont’d. LACK OFMONEY TOMAKE THEPURCHASE “I’ve already spent my budget,” CONFLICT WITHPRODUCT FEATURES “It’s more powerful than I need for my work.” 37
  • 38. TECHNIQUESTOHANDLEOBJECTIONS ACKNOWLEDGEAND CONVERTTHEOBJECTION Use the objection as a reason for buying. "The price is too high." The reply: "Yes, the price is high because we use the finest materials. Let me show you...." POSTPONE When the objection will be dealt with later in the presentation. "I'm going to address that point shortly. I think my answer would make better sense then." AGREE AND NEUTRALIZE Salesperson agrees with the objection, then shows that it is unimportant. "That's true and others have said the same. However, they concluded that issue was outweighed by the other benefits." 38
  • 39. TECHNIQUESTOHANDLEOBJECTIONS–cont’d. ACCEPT THEOBJECTION Sometimes the objection is valid. Accept it and attempt to stimulate further discussion on the objection. DENIAL When a prospect's objection is based on misinformation and clearly untrue, it is wise to meet the objection head on with a firm denial. IGNORE THE OBJECTION This technique is used when it appears that the objection is a stalling mechanism 39
  • 40. STRATEGIESINELIMINATINGOBJECTIONS • Use a Testimonial • Interpret it as a Question. • Make it Easy to Object • Listen Carefully • Be Polite and Respectful The Law of Six This law says that there are never more than six objections to any offering. You may have price objections, quality objections, competitive objections, capability objections, reputation objections, or newness objections. Develop a bulletproof answer for each of your major objections. 40
  • 41. GROUPEXERCISE–BREAKOUTSESSION Each Group is to choose one of following objection categories/clusters; 1. Price Objections 2. Quality Objections 3. Competitive Objections 4. Capability Objections 5. Reputation Objections 6. Newness Objections. Each group is to come out with Each group should write down three (3)objections (questions, criticism or complaints) you have heard. You are to develop a bulletproof answer for each of your major objections listed. Each group will be required to make a presentation of their objections and the answers. 41
  • 43. CLOSINGBASICS “A close is anything that puts the customer in a position involving some kind of commitment.” A close is just a way to ask for the order, their signature or the money. 43
  • 44. WHYTHECLOSEISDIFFICULT FEAR OF REJECTION It is the fear of the prospect saying “no.’’ FEAR OF FAILURE It is the fear of making a mistake, the fear of buying the wrong thing, the fear of paying too much, the fear of being criticized by other people. 44
  • 45. CLOSINGPRINCIPLES • The right time to close is when the customer is ready to buy • Look for more than one opportunity to close the sale • Buyer resistance is natural and should be expected • Buyers seldom ask you for the order 45 • Closing the Sale is an integral part of the sales process • No salesperson ever closed every sale • Selling is a `numbers game’ • Certain key ratios apply to your sales activity
  • 46. PREPARINGTOASKFORTHEORDER The Ascending Close Involves a series of questions, each of which leads to the next, with all questions requiring a “yes” answer. Ask six questions that require a “yes” answer to the benefits that your product or service offers. The Invitational Close You simply issue a direct invitation to buy what you have just described. Ask, “Well then, why don’t you give it a try?” 46
  • 47. SIGNALSTHATAPROSPECTISREADYTOCLOSE •Asking about availability, delivery, and add-on services •Asking about pricing and payment options •Asking about features or quality •Asking questions to learn more about the business •Asking for samples or a repeat of the demonstration •Asking about other products the business carries •Asking for referrals of customers 47
  • 48. BASICTECHNIQUESTOHELPCLOSESALE 1. End with a small choice 2. End with small “yeses” 3. End with a bargain 4. End with a “join the club” invitation 5. End with a payment method 6. End with a test drive 7. End by asking for the sale 48
  • 49. INDIVIDUALASSIGNMENT Participants would be called to share how they closed a business with one of the technique discussed. Each presenter is to use a different technique. The Race is on. 49
  • 51. THEFOLLOW-UP Professional selling requires customer follow-up. The follow-up stage includes making sure;  Item or service purchased has been delivered and installed  Customer concerns are addressed 51
  • 52. SAMPLEFOLLOW-UPPROCESS Day 1 Thank them for being a Customer. Send a standard thank you email, letter or message. 1 Month Assess the overall experience. 3 Months Elicit product feedback. Ask them to be a reference. 6 Months Secure referrals. Invite them to share their experiences. 9 Months Express gratitude. Warm them up for renewal. 11 Months Secure critical feedback to prepare for renewal. 52
  • 53. CROSS-SELLING,UPSELLINGANDDOWNSELLING •It can cost four times as much to sell to a new customer compared to an existing one. •If you are not effectively cross-selling and up-selling, you are leaving money on the table every time you close a sale. 53
  • 54. CROSS-SELLING “Selling an additional product or service to an existing customer.” Concentrates on what you can to contribute to their business and organizational issues. Not what you can sell to them.
  • 55. UPSELLING “…a sales technique whereby the customer is prompted to purchase more expensive items [or] upgrades… in an attempt to make a more profitable sale.” Converting an initial order into a more profitable order.
  • 56. DOWNSELLING Offering simpler and cheaper versions of a product to customers who are not going to buy the initially chosen product. Down-Selling increases 1. Sales 2. Brand Loyalty 56
  • 57. WHYITDOESN’THAPPENOFTEN FEAR The fear that “asking for more” raises the risk of losing the sale. It could increase revenues by 25% just by improving the management of their current clients. WRONGMINDSET The biggest reason is the wrong mindset.
  • 58. THETIMETOSTART From the beginning of the sales process, you should be continually looking for ways to get the most out of every sale. The worst time to start thinking about cross-selling and upselling is at the end of the sales cycle. 58
  • 59. EFFECTIVECROSS-SELLINGPROCESS  Identify cross-sell opportunities  Develop the key characteristics of your target customer  Develop and execute a plan  Compare and select key customers to pursue  Take action  Monitor  Solidify relationships  Teach the cross-selling “service” mindset  Continuously communicate your capabilities to customers  Making a case for cross-selling
  • 60. UPSELLINGTECHNIQUES  Treat it like a normal sale.  Be Prepared  Show the Benefits  Be Reasonable  Empower Your E-Commerce  Best Value  Add Stimulus  Use Instructions  Mention on Early Stages  Don’t Push It Too Hard
  • 61. DOWNSELLING Down-selling means offering simpler and cheaper versions of a product to customers who are not going to buy the initially chosen product. Can increase sales and brand loyalty. You need to be very delicate when down-selling as you need to find out your customer's budget and offer cheaper products without offending the customer. 61
  • 62. REVIVINGDORMANTACCOUNTS Your company can lose customers for three main reasons: 1. The customers no longer need your company’s services. 2. Your customers prefer competitors’ offerings. 3. Your customers have had a poor experience with the company and no longer wish to deal with you.
  • 63. HOWDOYOUDOIT? 1. Records – identify dormant accounts. 2. Reasons – understand reasons for dormancy. 3. Respond - give clients a solution to the reasons. 4. Incentives – Give customers more reason to buy. 5. Loyalty – give them a reason to always buy.
  • 64. THEGROUNDISFERTILE Cross-Selling and Up-selling can  raise revenues,  increase retention, and  cut expenses. Overall, applying the techniques can increase profits attributable to cross-selling by between 50 to 100 percent in the near term. Management must be strongly committed to improving cross- selling performance. It is a challenging initiative, but great rewards can grow from this very fertile ground.
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