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Global Environment

Slide 1. International Marketing 70-480, Session 11 Lloyd Corder, Ph.D. Global Environment. Selling. Corder’s Questions. Slide 2. How does marketing fit with sales? What are the key steps of the sales process?. Believe in the power of feedback. 11. Selling

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Global Environment

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  1. Slide 1 International Marketing 70-480, Session 11 Lloyd Corder, Ph.D. Global Environment Selling

  2. Corder’s Questions Slide 2 How does marketing fit with sales? What are the key steps of the sales process? Believe in the power of feedback. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  3. How does marketing fit with sales? Slide 3 1. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  4. Slide 4 Marketing & Sales Cookbook The sales qualifying steps may vary, but knowing what to do in each will help you close more deals in shorter periods of time. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  5. Slide 5 5 Stage Buying Process Make a buying decision Explore possible solutions Sense a problem Compare options Wonder if the “right decision” was made Sales = process of using persuasion to move “prospects” to next step—and keeping them sold after the sale 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D. John Dewey problem solving method

  6. Slide 6 Selling Pitfalls • Fear of rejection • No system/no language • No strategizing • Few examples of what “right looks like” • Thinking marketing can happen without sales • Secrets to sales’ success: • Going to the bank vs. getting your needs met • Picking for pain (quantifying problems) • ABC (Always Be Closing) • Listening more than you talk • No flag waving 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  7. Slide 7 Ancient Model of Persuasion Personal Credibility Ethos Pathos Logos Logical Reasoning & Power of Naming Feelings & Emotions 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  8. Slide 8 What’s Persuasive? • Sources • Attractiveness = persuasiveness • Experts (degrees, experience, etc.) • Eye-witnesses, first-hand accounts • People who make mild threats instead of strong ones • Messages • Points with specific conclusions • Good news • Telling both sides of the story • The more they understand the message, the more persuasive it will be • Repetition (say it enough times and they will believe it) 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  9. Slide 9 Persuasive, cont. • Media • Live or videotaped, followed by oral—written is least persuasive • Receivers • Messages that contradict existing opinions won’t be rejected if they appear to benefit the listener • Perception is subjective 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  10. Slide 10 Building Your Credibility • Support what you say with evidence • Demonstrate confidence in your role • Use language appropriately • Don’t call attention to shortcomings • Stress your fairness • Stress enduring values • Stress your similarity with your target audience • Demonstrate long-term consistency 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  11. Slide 11 Building Your Credibility • Show respect and courtesy • Be interested in your audience’s welfare, not simply seek self-gain • Be enthusiastic • Be emphatic, fresh • Be positive • Coordinate verbal and nonverbal messages • Don’t appear too little or too much involved in your role 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  12. What are the key steps of the sales process? Slide 12 2. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  13. Slide 13 The Sales Process Sales Proposal & Closing Typical 1st Meeting 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  14. Slide 14 1. Rapport Building(By Using Prospect Mindsets) • Thinker: “I’m thinking about buying a car.” • Want to make a decision; need information in order to make an informed decision • Strategy: Don’t try to sell the car. Ask for timeframe in making a decision. • Doer: “I’ve made a decision to buy a car.” • Want action; need your sense of urgency • Strategy: Move quickly. Ask when they would like to make a purchase and get moving. • Struggler: “You’re charging how much for that car!?” • Want a quick fix; need a new perspective • Strategy: Don’t get sucked into their problem. Draw them out, help them think of new ideas before making a decision. • Achiever: “I’m looking for someone whom I can work with.” • Want teamwork; need a resource • Strategy: Build a long-lasting relationship. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  15. Slide 15 Message Make-up Rapport is built through verbal and nonverbal communication 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  16. Slide 16 What’s Being Communicated? 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  17. Slide 17 Rapport Building Body Language • Does every business require its employees to wear a uniform? • Which type of handshake is better? The firm or the dead fish? • Are the same body movements interpreted the same across cultures? • Who has bigger pupils? A baby or a wicked witch? • Why don’t more strangers talk on the elevator? • What seating arrangements make selling easier? 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  18. Slide 18 Children & Touch 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D. Source: Burgoon & Saine, The Unspoken Dialogue

  19. Slide 19 Personal Space 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  20. Slide 20 Seating Arrangements Confrontation Seating Cooperative Seating 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  21. Slide 21 2. Mini-contract • Verbal agreement on how you’re going to proceed • Gets prospect to agree “up-front” on when and how they are going to make a decision • If used properly, eliminates the need for “hard selling” and “closing techniques” 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  22. Slide 22 3. Finding Pain by Asking Questions • A good listener… • Looks directly at the speaker • Asks clarifying questions • Shows concern • Repeats some things the speaker says • Focuses on key points • Does not get distracted • Doesn’t interrupt, change the subject or carry on • Knows when to “solve a problem” vs. “let someone vent” 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  23. Slide 23 Asking Questions, cont. • An effective “persuader” uses questions to convince others of a specific “belief” • Deck of cards • Human motivators: Pleasure and pain • Pleasure: Feels good… attracted toward • Pain: Deep-seeded problem… move away from • Sales questioning strategy (UPS) • Uncover information (open-ended) • Probe (looking for specifics/details) • Stay in control (using questions to keep control of the conversation) 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  24. Slide 24 Doctor Example 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  25. Slide 25 Pleasure or Pain Features Benefits Pleasure or Pain (Real Reason for Buying) 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  26. Slide 26 Turning Features into Pain • Features = dials, gadgets, components, etc. of the product or service (flat screen) • Benefits = how dials, gadgets, etc. benefit a prospect (takes up less space, easier to see, etc.) • Pain = real reason why someone buys a product (having the latest, greatest equipment that makes you fit in or feel more important than your friends) 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  27. Slide 27 Iceberg Strategy (For Finding Pain) Problem Prospect Describes Real Problem or Pain 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  28. Revenues Market share Profit Stock price Shareholder value Credit rating Customer satisfaction Raw materials Maintenance quality Product quality Employee quality Employee morale Employee productivity Employee accountability Teamwork and coordination Quality of facility management Employee involvement and commitment Raw materials costs Facility management costs Maintenance costs Labor costs Employee grievances Staff turnover Interpersonal conflict Inter-team conflict Employee accident/injury rate Resistance to change Product rework, rejects and returns Deadlines missed Inventory management costs Inventory shrinkage Competitor capability Customer defections Legal complications Slide 28 Common Pains (Felt from Declining…) 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D. Source: Sam Deep & Lyle Sussman Close the Deal

  29. Slide 29 Uncovering Information • What do you think about …? • How do you feel about? • What would you suggest? • What do you think is a better way to…? • Why is it being done that way? • Could you give me an example of …? • What do you like best/least about …? • How long has this been a problem? • What could we change about this situation to help make you more productive? • What ideas do you have to solve this problem? 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  30. Slide 30 Probing • Directive probes • Elaboration: “Tell me more about that. What does that mean?” • Clarification: “I don’t understand. Why is that a problem? I don’t know, what do you think?” • Repetition: Simply repeat the same question. • Confrontation: “I’m hearing two different ideas here. First, … Second, … What am I missing?” • Non-directive probes • Silence • Neutral phrases • Internal summaries • Reflective statements 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  31. Slide 31 Staying in Control • That’s a perfectly natural thought. • I can understand your viewpoint. • Yes, I see your position. A lot of people feel that way. • You no doubt have good reasons for feeling that way. • I can see at first glance why it might seem that way. • Which means? And…? Like…? • You must be telling (or asking) me this for a reason. • What were you hoping I would say (or do)? • If I were to say _____, what would you say? 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  32. Slide 32 Dummy Curve Beginners and “professionals” are often more effective, because the keep asking questions, don’t make assumptions and get prospects emotionally involved in the sale. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D. Source: David Sandler, Sandler Selling System

  33. Slide 33 4. Budgets • Determine how much money client has to fix problem/solve pain • Avoids “way overpriced proposals” • Plants seeds and manages expectations before sales proposal • Keeps you from wasting time giving “free” advice that prospect can’t afford to buy • Approaches • Direct question: “How much do you have budgeted for this?” • Prospect question: “How much is this going to cost?” Your comeback: “Between $50,000 and $5 million. If I can get some more information, I’ll have a proposal for you in __ days. Does that sound fair?” • Ballpark: “These projects often come in between $___ and $___. If I come back to you with a recommendation in this range, does this sound like something you would be able to do?” 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  34. Slide 34 5. Decision • Who makes the final decision? • When decision-maker isn’t present • May not be addressing the true issue/concern • Lose control of the sales process • More difficult to manage personalities • No one sells your product or service better than you, why hand it off to an untrained sales person? • Approaches • “Who else has to feel good about this before we can move forward? Can I talk with them?” • “What does your decision-making process look like?” • Many clients have to make “internal sales” for you—so make it easy on them by preparing information they need to help position you (e.g., expected ROI) 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  35. Slide 35 6. Presentation (Sales Proposal) • Written, persuasive document • Used to persuade buyer to buy product, service or idea • Multiple formats and purposes (Word, PowerPoint, quote sheets, etc.) • Typical Components • Overview (statement of the problem) • Recommendation (how you will solve the problem) • Workflow (steps you will follow to solve the problem) • Timing, budget and terms • Backup: Case histories, customer letters, etc. 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  36. Slide 36 Commitment • Reversing Technique • To get more positive reaction, go negative… • Sounds like no matter what I said, you wouldn’t like it. • I think I’m wasting your time. • I think you hate this idea. • Use the technique sparingly and be gentle. P.S.—It won’t work on your spouse! 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  37. Slide 37 Common Objections • Cost too much • Let’s wait awhile • Tried it before and it didn’t work • Too busy • I don’t think it will work • Too risky • Never done it before • Don’t have enough money, time, energy • Not our style • Not sure I can trust you to do what you say 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  38. Slide 38 Handling Objections & Closing • Assumptive close • Ben Franklin (Positives vs. Negatives) • 1-10 • False urgency • Menu approach + - ZigZiglar’s book provides 100+ closing techniques 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  39. Slide 39 Corder’s Conclusions • Communication platforms should help you “build a brand image” and/or “generate leads” • Selling should help you convert leads into customers by using a consistent process so that opportunities and resources are rarely wasted • The number of prospects who become customers directly depends upon the strengths of your communications platform, marketing mix and sales technique • By improving your sales technique, you greatly improve your chances for career advancement Believe in the power of feedback! 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

  40. Slide 40 11. Selling International Marketing 70-480 Lloyd Corder, Ph.D.

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