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  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
  6. THESALESPROCESS–FUNNEL/CYCLE Prospecting and Lead Generation Pre-Approach Approach Presentation Closing the Sale Follow- Up 6
  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
  18. PRE- APPROACH 18
  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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