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Selling in challenging times 2015 AoB

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Selling in challenging times 2015 AoB

  1. 1. L E A H C I M S E M A J Selling in a Challenging Economic Environment 11/14/2015 1 www.LTSemaj.com
  2. 2. •Each week we can see a growing number of ads seeking sales persons •The lists of prerequisites are getting longer and more impressive: The Death of A Salesman … As We Knew Him 11/14/2015 2 www.LTSemaj.com
  3. 3. The Ad  “At least 2 years experience;  be creative flexible and outgoing;  professional and business-like;  possess strong oral and written skills;  own a reliable motor car;  be able to travel island wide;  have a minimum of 6 CXC subjects;  previous sales experience an asset;  be able to work on their own initiative” 11/14/20153www.LTSemaj.com
  4. 4. I frequently remind these ambitious employers  that persons who are able to work on their own  and are self-motivated  more often that not  tend to be self-employed  But the problem is deeper than that  Where do they expect these sales persons to materialize from?  What aspect of our school experience is producing this subtle mix of technical and interpersonal skills? 11/14/20154www.LTSemaj.com
  5. 5. Who is the archetypical typical sales person?  I would think that in Jamaica many would nominate someone selling  Financial products  Insurance  Consumer goods  Medical supplier and drugs  What did these persons want to be when they “grow big”?  I can guarantee that it was not sales 11/14/20155www.LTSemaj.com
  6. 6. The Aspirations  What percent of people who are now in sales had these aspirations in primary school?  Few?  In high school?  Less  In college?  None 11/14/20156www.LTSemaj.com
  7. 7. Here is a career path  that can generate very high income and autonomy,  while at the same time being extremely critical to most business,  yet has received no support from the formal educational system  Were there any sales persons at your school’s Career Day? 11/14/20157www.LTSemaj.com
  8. 8. The Attraction  The most common attraction to the area of sales has been the ability to set ones earning capacity and your own hours  I dare say that more people have these desires than have the capacity to meet the expectation 11/14/20158www.LTSemaj.com
  9. 9. The Male Profile  I have always thought that the best profile for an old order sales man would be one that does not live with parents have expensive tastes for material things and high maintenance women 11/14/20159www.LTSemaj.com
  10. 10. The Female Profile would be an ambitious single mother who wants the best for her 3 children 11/14/201510www.LTSemaj.com
  11. 11.  will be driven to produce  Today sales have evolved well beyond these parameters  We had better wake up and begin some serious preparation work for this profession Both of these persons 11/14/201511www.LTSemaj.com
  12. 12. 11/14/2015www.LTSemaj.com 12 The Birth of the New Sales Person The new sales person must be much more than an order taker. The internet and Business to Business activities (B to B) procedures can do a more effective job
  13. 13. 11/14/2015www.LTSemaj.com 13 The digital model  has the supplier with a cash register online,  the customer has an inventory control system  with a preset reorder point at which an email is automatically generated directing an order to the supplier.  All this takes place without someone stopping by to enquire  “How much yu want dis month baas?”
  14. 14. 11/14/2015www.LTSemaj.com 14 The new salesperson Is a strategic business partner who is no longer interested in “closing a sale”, but instead “opening a relationship”.
  15. 15. 11/14/2015www.LTSemaj.com 15 Digicel  I was involved in training some persons who worked in a Digicel store  shortly after the company came on-stream.  They had the ‘old order’ mind set  that a phone was a once-in-a-lifetime purchase.  I had to prepare them for the reality that  the lifetime of a cell phone would be about one year.  Based on the quality of the relationship established with the customer,  you could develop a continuous income stream from not only phones, but also for accessories.
  16. 16. 11/14/2015www.LTSemaj.com 16 The Data  "How to Hire and Develop Your Next Top Performer: The Five Qualities That Make Sales People Great“  Herb Greenberg, Harold Weinstein and Patrick Sweeney  Correlations of hundreds of thousands of assessments that were performed over several decades  with various sales performance measurements.
  17. 17. 11/14/2015www.LTSemaj.com 17 They help us understand why it is that some people succeed in sales, while others seem to get nowhere. They arrived at a frightening conclusion that may well be applicable to the Jamaican situation.
  18. 18. 11/14/2015www.LTSemaj.com 18 The Facts 55% of the people earning their living in sales should be doing something else 25% have what it takes to sell, but they should be selling something else
  19. 19. 11/14/2015www.LTSemaj.com 19 WHY?  The reasons for these dismal figures  are largely based on the fact that most sales persons are primarily driven by the earning potential  Usually selected for the job by limited and subjective processes.  This usually means a resume (self-report)  and an interview.  We recommend that if Sales is critical to your business, an employer must go well beyond this.
  20. 20. Your Best Sales People Lynette Ryals & Iain Davies Harvard Business Review December 2010
  21. 21. The Data  Observation of 800 Sales Professionals in live sales meetings  Discovered 8 sales types  Only three (3) types accounting for 37% were consistently effective  Five (5) types – 63%, Consistently under performed
  22. 22. The Bad News 9.1% of sales meetings result in a sale 1 of 250 sales people exceed their targets
  23. 23. The Good News  The 8 types represent behavioral tendencies, not set-in-stone personalities  Managers can effect changes in their current salespeople, and recruit better team members in the future in the understand the 8 types
  24. 24. The Best
  25. 25. Experts
  26. 26. Closers
  27. 27. Consultants
  28. 28. Aggressors
  29. 29. Focusers
  30. 30. Narrators
  31. 31. Storytellers
  32. 32. Socializers
  33. 33. The Trend
  34. 34. 11/14/2015www.LTSemaj.com 34 Profiling  Begin by developing a profile of your most successful sales persons.  This will allow you to identify the common element(s) that distinguishes them from the rest.  Next,  identify some more people who have these same traits.  How?  Use the available research which has identified traits that are usually present in persons who excel in sales.
  35. 35. 11/14/2015www.LTSemaj.com 35 The Sales Aptitude Test  The Sales Aptitude Test was developed by Science Research Associates  to assess behavioural and personality characteristics which have been shown to be important to success in sales occupations.  It is used for personnel selection and placement for Sales and Sales Management positions.  The assessment measures an individual’s sales aptitude.  The test utilizes items related to seven (7) personal attributes
  36. 36. 11/14/2015www.LTSemaj.com 36 Achievement Motivation  the internalization of high standards for performance  and the preference for working on challenging or difficult tasks.  Individuals who are highly motivated to achieve  are ambitious and strive to accomplish something important.  They are often highly competitive,  and they place a priority on winning
  37. 37. 11/14/2015www.LTSemaj.com 37 Ego-Strength  resilience to criticism, rejection or failure  Individuals with high ego strength have a strong sense of self-worth and like themselves for who they are  These persons are able to maintain a positive attitude in the face of failure or rejection
  38. 38. 11/14/2015www.LTSemaj.com 38 Energy behaviours which are characterised by vigour, intensity and endurance People with high energy are able to sustain effort for long periods of time
  39. 39. 11/14/2015www.LTSemaj.com 39 Enterprise the preference for adventurous activities and willingness to take risks that will pay off in a materialistic sense Enterprising people enjoy working in a competitive business environment.
  40. 40. 11/14/2015www.LTSemaj.com 40 Persuasiveness the need to verbally express oneself with the intent of influencing the behaviours or decisions of others
  41. 41. 11/14/2015www.LTSemaj.com 41 Self-Confidence  the willingness to take action based on the belief that effort will produce desired outcomes  Individuals with a high level of self- confidence approach tasks with the belief that their abilities and drive are all well matched to the task
  42. 42. 11/14/2015www.LTSemaj.com 42 Sociability the preference for interacting with people during work and recreation Highly sociable people gain satisfaction from relationships; they are friendly, outgoing, articulate and socially at ease
  43. 43. 11/14/2015www.LTSemaj.com 43 Based on these traits,  sales aptitude is characterized by  a tough-minded social confidence,  a competitive ambition,  a need to persuade and influence others  and a high level of energy and industry  The test produces a single score  which has been shown to predict successful sales performance  in a variety of industries
  44. 44. 11/14/2015www.LTSemaj.com 44
  45. 45. To Really Be A Top Financial Advisor? DO YOU HAVE WHAT IT TAKES 11/14/2015 46 www.LTSemaj.com
  46. 46. Do You Have the Right Attitude to Sell? High-efficiency selling begins with attitude Successful salespeople listen well and generally are open-minded 11/14/2015 47 www.LTSemaj.com
  47. 47. 1. Willingness to be Different Success often requires a different approach You don’t have to look, sound, act or get compensated like everyone else Do what works for you 11/14/2015 48 www.LTSemaj.com
  48. 48. For Instance Track your own sales instead of waiting for for a sales manager to do it for you 11/14/2015 49 www.LTSemaj.com
  49. 49. 2. Commitment Cutting corners and compromising standards offer short-term gain but undermine relationships 11/14/2015 50 www.LTSemaj.com
  50. 50. Commitment  Develop a sense of purpose and resolve in what you do  You operate in your own best interests when you serve your customers unfailingly and without hesitation 11/14/2015 51 www.LTSemaj.com
  51. 51. Take the Initiative Don’t wait for someone to tell you what to do 11/14/2015 52 www.LTSemaj.com
  52. 52. 3. Self-motivation You are responsible for your own success Keep in mind the adage good luck is found at the intersection of preparation, hard work and opportunity 11/14/2015 53 www.LTSemaj.com
  53. 53. 4. Accountability The most effective way to handle a problem is to confront it directly 11/14/2015 54 www.LTSemaj.com
  54. 54. Accountability Take responsibility when it’s appropriate to do so Don’t be afraid to admit you do not have all the answers 11/14/2015 55 www.LTSemaj.com
  55. 55. 5. Long-term Perspective Some interactions are short- term purchases Others offer the opportunity for long-term relationships 11/14/2015 56 www.LTSemaj.com
  56. 56. Long-term Perspective Learn to recognise the difference Remember that selling ultimately is an interaction between individuals, not institutions 11/14/2015 57 www.LTSemaj.com
  57. 57. 6. Focus Your objective is to propose solutions for your customers Delegate to support staff those routine tasks that interfere with your objective 11/14/2015 58 www.LTSemaj.com
  58. 58. Focus Ask someone else to go to that meeting you had planned to attend Concentrate on bringing in new business to the company 11/14/2015 59 www.LTSemaj.com
  59. 59. 7. Optimistic Salespeople, like actors, need to know how to experience emotions without getting caught up in them Anger, frustration, and fear are part of the sales game 11/14/2015 60 www.LTSemaj.com
  60. 60. Optimistic Recognise that all situations offer opportunity Be positive 11/14/2015 61 www.LTSemaj.com
  61. 61. 8. Enthusiastic Genuine enthusiasm is contagious one of the best ways to win people over to your way of thinking 11/14/2015 62 www.LTSemaj.com
  62. 62. Enthusiastic An upbeat attitude will go along way toward overcoming resistance 11/14/2015 63 www.LTSemaj.com
  63. 63. 9. Cause-oriented Believe in what you do for a living If you don’t believe in your contribution or your company get another job 11/14/2015 64 www.LTSemaj.com
  64. 64. Do You Enjoy Your Work? If you win the lottery You will be happy for a year But if you enjoy what you do You will be happy for a lifetime 14 November, 2015 www.LTSemaj.com 65
  65. 65. There is work that is work And there is play that is play; There is play that is work And work that is play And in only one of these lie happiness Gelett Burgess Work and Play 14 November, 2015 66 www.LTSemaj.com
  66. 66. 14 November, 2015 www.LTSemaj.com 67 Do You Enjoy Your Job? Man who enjoys his job will never have to work a day in his life Confucius 14 November, 201567www.LTSemaj.com
  67. 67. SELLING FROM INSIDE YOUR CUSTOMER’S HEAD The 8 Roles you must play 11/14/2015 68 www.LTSemaj.com
  68. 68. You Can Fulfil buyers’ evolving needs by taking on a different role for each of the eight steps in the buying process 11/14/2015 69 www.LTSemaj.com
  69. 69. 1. Act As A Student To study the change affecting your customers Find opportunities to add value 11/14/2015 70 www.LTSemaj.com
  70. 70. 2. Act As A Doctor Diagnose customers’ discontents Uncover their big needs 11/14/2015 71 www.LTSemaj.com
  71. 71. 3. Act As An Architect As prospects research solutions You design buying criteria that meets their needs 11/14/2015 72 www.LTSemaj.com
  72. 72. 4. Act As A Coach When customer starts comparing your offering to the competition’s You make a game plan to win the account 11/14/2015 73 www.LTSemaj.com
  73. 73. 5. Act As A Therapist To draw out prospects’ fears and resolve them 11/14/2015 74 www.LTSemaj.com
  74. 74. 6. Act As A Negotiator Try to reach a mutual commitment to “open” a relationship Not “close” a sale 11/14/2015 75 www.LTSemaj.com
  75. 75. 7. Teach Your Customers So they learn to use your product and fulfil their expectations 11/14/2015 76 www.LTSemaj.com
  76. 76. 8. Act As A Farmer Cultivate customer Satisfaction Grow the account as a Farmer cultivates his crops 11/14/2015 www.LTSemaj.com 77
  77. 77. THEN APPROACH THEM Study Prospects 11/14/2015 78 www.LTSemaj.com
  78. 78. Sales Role 1: Student Study the change affecting prospects Find opportunities for you to add value 11/14/2015 79 www.LTSemaj.com
  79. 79. You must first study in detail What are the customer’s needs? As a “student,” you must do research for example What is the person’s risk tolerance? 11/14/2015 80 www.LTSemaj.com
  80. 80. Uncovering Changes Your research will help you pinpoint changes that affect or could affect your prospect 11/14/2015 81 www.LTSemaj.com
  81. 81. Look for External Changes New government regulations Foreign competitors Internal changes Mergers Reengineering programs 11/14/2015 82 www.LTSemaj.com
  82. 82. Once You Identify Changes Affecting Your Customer You can offer solutions to help them deal with those changes The key to being a good student is to forget about your products imagine that you work for your customer 11/14/2015 83 www.LTSemaj.com
  83. 83. Ask yourself What results is my customer trying to achieve? How can my product or service help? 11/14/2015 84 www.LTSemaj.com
  84. 84. 2. Act As A Doctor  Diagnose discontent and uncover big needs  At this step of the process, customers recognise a problem or opportunity  Question the seriousness of the problem  Decide whether to buy a solution 11/14/2015 85 www.LTSemaj.com
  85. 85. A Doctor  Helps people achieve wellness through knowledge and questioning  As a “doctor” of selling  You ask questions  Help prospects diagnose problems and possible solutions11/14/2015 86 www.LTSemaj.com
  86. 86. 1. Ask History Questions Get background facts and current information Identify actual performance and the ideal level of performance 11/14/2015 87 www.LTSemaj.com
  87. 87. 2. Ask Symptom Questions:  Why is the customer unhappy?  Where does the discontent stem from?  Customer may or may not know the cause of the discontent 11/14/2015 88 www.LTSemaj.com
  88. 88. 3. Ask Cause Questions  Determine the source of the problems  Customers may also not realise the seriousness of a problem  The seriousness is important in helping determine whether or not they have a pressing need 11/14/2015 89 www.LTSemaj.com
  89. 89. 4. Ask Complication Questions Uncovering serious underlying problems By digging further, you can reveal any “big” needs of which the prospect may be unaware 11/14/2015 90 www.LTSemaj.com
  90. 90. 5. Finally, Ask Cure Questions Helps you identify expectations of value Example of a cure question “What would a new income stream allow you to do?” 11/14/2015 91 www.LTSemaj.com
  91. 91. After Gathering This Information You can begin showing how you can help a prescription for their needs 11/14/2015 92 www.LTSemaj.com
  92. 92. You are Offering a preliminary prescription so that you can go with your customer to the next step of the buying process 11/14/2015 93 www.LTSemaj.com
  93. 93. Sales Role 3: Architect  Design unique solutions that influence your customers’ research  At this point in the process prospects have a general concept of what they want  Based on the needs identified previously  But they haven’t made any decisions on the specifics yet 11/14/2015 94 www.LTSemaj.com
  94. 94. Your Role  To help customers move from a general concept to a specific plan  a plan that contains the specific criteria on which they will make their decisions  These criteria should  correspond as much as possible to the strengths of your offering 11/14/2015 95 www.LTSemaj.com
  95. 95. You Must First Understand the customers’ concept An architect knows what a client wishes to accomplish with a new building 11/14/2015 96 www.LTSemaj.com
  96. 96. As an “Architect” of Financial Planning You must ask the same question: What do they want to accomplish? 11/14/2015 97 www.LTSemaj.com
  97. 97. As an Architect You want to draw out the must-have requirements prospects haven’t thought of but that are required for the job to get done to their satisfaction 11/14/2015 98 www.LTSemaj.com
  98. 98. The clients of an architect  Often see a new building as an opportunity  They don’t realise all the ways in which a new building can help them improve operations  By questioning clients carefully  Architects elicit “nice-to have” criteria not mentioned before 11/14/2015 99 www.LTSemaj.com
  99. 99. Question them carefully  About their operations and their goals  You can uncover “nice to haves” that they might never have thought of  Ask your prospect to rank the relative importance of each nice-to-have item  Help prospects emphasise benefits in which you are strong 11/14/2015 100 www.LTSemaj.com
  100. 100. On the other hand  A customer might demand  “Show me what you’ve got”  Try saying,  “I can show you many options. But to know which ones are pertinent for you, I need to ask you a few questions first….” 11/14/2015 101 www.LTSemaj.com
  101. 101. ALTERNATIVE  Show the prospect what you’ve got  Then immediately back up and identify the problem or opportunity the prospect is trying to solve 11/14/2015 102 www.LTSemaj.com
  102. 102. Sales Role 4: Coach Compare your offering to the competition’s then implement a game plan to win the account In step 4 of the buying process, customers are comparison shopping 11/14/2015 103 www.LTSemaj.com
  103. 103. Your Mission  To convince buyers  Without getting into a self- destructive price war  That you offer the best solution to their needs  Think of step 4 as a sport match between you and the competition 11/14/2015 104 www.LTSemaj.com
  104. 104. To win the game You must act as a “coach” 11/14/2015 105 www.LTSemaj.com
  105. 105. “Who is the best choice?”  Customer’s number one question in the comparison step  If you can’t answer that question, you’ll be in a price war 11/14/2015 106 www.LTSemaj.com
  106. 106. How do coaches win games?  First  they analyse their team’s strengths and weaknesses  match them up against the strengths and weaknesses of the opponent 11/14/2015 107 www.LTSemaj.com
  107. 107. From that comparison  They develop a winning game plan designed to exploit their team’s strengths and the weaknesses of the opponent  Then the team executes the plan  Winning an account involves the same three steps 11/14/2015 108 www.LTSemaj.com
  108. 108. The Pre-game Comparison  First, “scout” your opponents  Ask customer outright who the competition is  Listen carefully to objections  Scout opponents through competitive analyses 11/14/2015 109 www.LTSemaj.com
  109. 109. One by One  Take the must-have and nice-to-have criteria developed in step 3  see how you match up against the competition  Don’t limit yourself  Add in intangibles that add value to your offering 11/14/2015 110 www.LTSemaj.com
  110. 110. The Game Plan  Design a game plan to exploit your strengths and opponents’ weaknesses  You already put yourself in a better position in the architect phase when influencing the criteria list  Bolster those strengths on the list by asking buyers to explain why those features are important to them 11/14/2015 111 www.LTSemaj.com
  111. 111. LET THEM TALK  The more they themselves talk about the features, the more those features will rise in importance  Don’t forget to emphasise intangible strengths in your game plan 11/14/2015 112 www.LTSemaj.com
  112. 112. Some other strategies to keep in mind:  If you have weaknesses – and you will – repackage them to focus on your strengths instead  Carefully look for weaknesses in your competitors’ strengths 11/14/2015 113 www.LTSemaj.com
  113. 113. First  show that you fully understand your clients’ needs and objectives  Then,  based on your strengths and opponents’ weaknesses,  you must describe how your solution meets those needs  Next –  justify the costs of your solution by showing how the buyers’ profits will improve 11/14/2015 114 www.LTSemaj.com
  114. 114. Emphasising  Your strengths and opponents’ weaknesses  Justify costs  Lead prospects to just one conclusion: Buy from you 11/14/2015 115 www.LTSemaj.com
  115. 115. Sales Role 5: Therapist Draw out fears and resolve them 11/14/2015 116 www.LTSemaj.com
  116. 116. Reluctance Is Not Objection  The last-minute reluctance to plunge forward into the purchase is more emotional than rational  Some sales people ignore this component and stubbornly repeat rational arguments for the purchase 11/14/2015 117 www.LTSemaj.com
  117. 117. Instead of Treating Fear As an Objection to Be Countered Encourage open expressions of concerns 11/14/2015 118 www.LTSemaj.com
  118. 118. Instead of Treating Fear As an Objection to Be Countered  This is only way that prospects can move past those concerns and on to the next step: commitment  The first step Be sensitive and observant so that you can recognise when prospects are becoming fearful or reluctant 11/14/2015 119 www.LTSemaj.com
  119. 119. Signs of Fear  Negative body language  Unreturned phone calls  A reluctance to meet  Unrealistic demands Such as on price 11/14/2015 120 www.LTSemaj.com
  120. 120. If You See the Signs of Fear  First, explore your buyers’ concerns  Ask: “Can you tell me more about that?” “Why do you feel that way?” 11/14/2015 121 www.LTSemaj.com
  121. 121. You Are a Therapist  You must ask questions  Keep digging  The first concerns are often smokescreens chosen to provide quick escapes for the prospects 11/14/2015 122 www.LTSemaj.com
  122. 122. To Uncover the Hidden Real Concerns Empathise with prospects’ feelings Put yourself in their shoes to understand their motivations 11/14/2015 123 www.LTSemaj.com
  123. 123. To Uncover the Hidden Real Concerns  Help your prospects resolve their fears for themselves by discussing alternatives  Ask your prospects to think of possible solutions to their concerns 11/14/2015 124 www.LTSemaj.com
  124. 124. If You Have a Solution  Present it as an alternative Not a solution  Prospects who choose solutions themselves will be more committed – and less fearful – about those solutions 11/14/2015 125 www.LTSemaj.com
  125. 125. All Change  Involves risks  which in turn raise fears 11/14/2015 126 www.LTSemaj.com
  126. 126. Your Goal As a Therapist  To help prospects explore alternatives  To resolve their fears so that you move toward in the buying process not backward 11/14/2015 127 www.LTSemaj.com
  127. 127. Sales Role 6: Negotiator Try to reach a mutual commitment to “open” a relationship Not “close” a sale 11/14/2015 128 www.LTSemaj.com
  128. 128. Win-Win Negotiations  Don’t destroy the relationships that you’ve painstakingly built up with your prospects by haggling over prices 11/14/2015 129 www.LTSemaj.com
  129. 129. The Result Will Be a Win-lose Situation  Someone has to lose so that the other party can win  This situation is hardly conducive to the type of long-term relationship you want to nurture with a customer  Try to reach a win-win agreement that meets the present and future needs of both you and your prospect 11/14/2015 130 www.LTSemaj.com
  130. 130. Negotiation Strengths  Analyse the negotiating power of both you and the buyer  Many salespeople underestimate their strengths in a negotiation  Eager to make a sale afraid the buyer will go someplace else, they make overly generous concession 11/14/2015 131 www.LTSemaj.com
  131. 131. The Result  Profits from the sale are limited  The salesperson As well as his or her company Loses in the agreement  Make sure that you are aware of your negotiating strengths 11/14/2015 132 www.LTSemaj.com
  132. 132. Establish a Range of Flexibility The minimum positions that you will accept Your most-favourable list- price scenario What you hope to achieve through the negotiations 11/14/2015 133 www.LTSemaj.com
  133. 133. Your Negotiating Strengths Armed with justifications and possible concessions You are now ready to negotiate Remember to strive for a win-win agreement Negotiations shouldn’t be a battle to the bloody finish 11/14/2015 134 www.LTSemaj.com
  134. 134. Once a Buyer’s Offer Is Proposed and Countered Get all additional buyer demands out in the open This will prevent a buyer nibbling concessions through the negotiations Never give a concession without getting one in return 11/14/2015 135 www.LTSemaj.com
  135. 135. The Goal of Negotiations To open a relationship Not close a sale You want to get the buyer to commit to you But you must also commit to the buyer 11/14/2015 136 www.LTSemaj.com
  136. 136. Sales Role 7: Teacher Identify expectations and teach customers to use your product so expectations are fulfilled For most salespeople, the sales process comes to and end when the customer says “yes” 11/14/2015 137 www.LTSemaj.com
  137. 137. For Buyers  The process is just beginning  To keep customers for life, you must see things from the customer’s perspective  You must see the “close” of a deal as the beginning of a new sales process  Not the end of an old one 11/14/2015 138 www.LTSemaj.com
  138. 138. During the Sale Process  Buyers form expectations of the value that would result from the purchase  If you and your product don’t fulfil those expectations, you will have unsatisfied customers  They won’t be back for repeat sales 11/14/2015 139 www.LTSemaj.com
  139. 139. The Problem Inexperienced customers often have exaggerated or unrealistic expectations They are often ignorant of the learning process required to master the new product or service Your first post-sales role is that of “teacher” 11/14/2015 140 www.LTSemaj.com
  140. 140. Teaching Buyers  As a teacher for new customers, you want to do three things 11/14/2015 141 www.LTSemaj.com
  141. 141. First  Set realistic objectives and expectations  Ask customers how they will know that the new product or service is successful This sets concrete, realistic objectives and expectations for the purchase  Customers can then monitor the effectiveness of a new product or service 11/14/2015 142 www.LTSemaj.com
  142. 142. Second  Show your buyers how to make the most of your offering 11/14/2015 143 www.LTSemaj.com
  143. 143. Finally  Test whether objectives have been reached  Depending on the size and scope of the purchase Testing can range from follow-up phone calls or questionnaires to months of tracking and analysis  Cultivate customers satisfaction 11/14/2015 144 www.LTSemaj.com
  144. 144. Sales Role 8: Farmer  Cultivate customer satisfaction and grow the account  Unhappy customers are often the result of bankers who have become complacent  They don’t hear from customers and assume everything’s okay 11/14/2015 145 www.LTSemaj.com
  145. 145. Try to Nurture and Grow the Account  As a farmer nurtures and grows his crops  As a “farmer” of selling  You must first nourish the relationship with your customers 11/14/2015 146 www.LTSemaj.com
  146. 146. Most Unhappy Customers Don’t Complain  They’ll just look elsewhere the next time around  To avoid becoming complacent start thinking of “account development” instead of “account maintenance” 11/14/2015 147 www.LTSemaj.com
  147. 147. Keep in Touch With Customers  Through regular account review  Ensure that everything is going well  For example If any problems crop up, attack them with vigour Show that you care 11/14/2015 148 www.LTSemaj.com
  148. 148. Next  “Sow’ new applications for your product or service  Find new ways for your customer benefit from your offerings 11/14/2015 149 www.LTSemaj.com
  149. 149. A Farmer  Cultivates his fields  Irrigating the crop  Keeping away pest and weeds  You should do the same  Keep generating new ideas to help your customers grow 11/14/2015 150 www.LTSemaj.com
  150. 150. Maintain Your Relationships Keep away “pests and weeds” Your competitors Your extra efforts will yield results Just as a farmer reaps the fruits of his labours 11/14/2015 151 www.LTSemaj.com
  151. 151. For Example  You will have placed yourself in good position to be awarded future, perhaps larger loans  You will have cultivated receptive outlets for new products and services 11/14/2015 152 www.LTSemaj.com
  152. 152. Next Season  The farmer will start over  You must do the same  In the months and years after a purchase, your knowledge of your customer may become outdated  You then return to customer- focused sales role 1 and become a student once again 11/14/2015 153 www.LTSemaj.com
  153. 153. M O B I L E : 8 7 6 . 3 8 3 . 5 6 2 7 S K Y P E : L S E M A J O F F I C E : 8 7 6 . 9 4 2 . 9 0 5 7 T W I T T E R : L S E M A J E M A I L : S E M A J @ L T S E M A J . C O M F A C E B O O K : L T S e m a j P h D B L O G : T H E S E M A J M I N D S P A . W O R D P R E S S . C O M WWW.SLIDESHARE.NET/LSEMAJ 11/14/2015 154
  154. 154. Another JobBank Presentation 11/14/2015 155 www.LTSemaj.com

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