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Preparing for the Sale

Preparing for the Sale. Section 2. What is Selling? What You’ll Learn. The definition and goals of selling The various sales situations encountered in the business world The definition of feature-benefit selling

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Preparing for the Sale

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  1. Preparing for the Sale Section 2

  2. What is Selling?What You’ll Learn • The definition and goals of selling • The various sales situations encountered in the business world • The definition of feature-benefit selling • How customers make decisions and the difference between rational and emotional buying decisions

  3. Selling • Personal Selling – any form of direct contact between a salesperson and a customer • Retail Selling – customers come to the store • Business-to-business Selling – takes place in a manufacturer’s or wholesaler’s showroom or a customer’s place of business • Telemarketing – selling over the telephone • National Do Not Call Registry, established by the FTC in 2003

  4. Goals of Selling • Help customers make satisfying buying decisions, which create ongoing, profitable relationships between buyer and seller. • Repeat business is crucial to the success of any company

  5. Consultative Selling • Providing solutions to customers’ problems by finding products that meet their needs. • Problem – Customer stands all day on her new job and her feet hurt. • Solution – Salesperson suggests shoes designed for comfort and support.

  6. Feature-Benefit Selling • Customers don’t buy products – they buy what products can do for them.

  7. Product Features • May be basic, physical, or extended attributes • The most basic feature is the product’s intended use • Additional features add more value to the product

  8. Obvious Feature This car is a bright shade of red.

  9. Customer Benefits • The advantages or personal satisfaction a customer will get from a good or service • Benefits become selling points • How does the feature help the product’s performance? • How does the performance information give the customer a personal reason to buy?

  10. Obvious Benefit This bright red car will attract the guys/girls

  11. Unique or Exclusive Benefits Our cars are so safe, we guarantee you won’t be crushed in a crash from the side.

  12. Feature Benefit Chart • A list of a product’s features and associated benefits.

  13. Feature Benefit Chart

  14. Feature Benefit Chart Choose an item and list at least five features and benefits.

  15. Customer Buying Motives • What motivates the customer to buy? • Rational Motive – a conscious, logical reason for a purchase • Emotional Motive – feelings such as social approval, recognition, power, love, or prestige

  16. Customer Decision Making • Extensive Decision Making – used when there has been little or no previous experience with the item • High risk items • Very expensive • High value to the customer

  17. Limited Decision Making – when a person buys goods and services that he or she has purchased before but not regularly • Moderate degree of risk • Person needs some information before buying the product

  18. Routine Decision Making – person needs little information about a product • High degree of prior experience • Little perceived risk

  19. Getting Ready to Sell What You’ll Learn • Sources for developing product information • Prospecting sources and methods • How leads are developed • Preparation for the sale in business-to-business selling and retail selling

  20. The Preapproach There are some steps that a salesperson follows when preparing to assist customers. The pre-approach is getting ready for the face-to-face encounter in a selling situation. A good salesperson has knowledge of the following:

  21. 1. Product Information • Direct experience • Written publications • Other people • Formal training

  22. 2. Industry Trends • Read related periodicals • Trade journals • Standard & Poor’s – a publication that provides data on industry trends.

  23. 3. Prospecting • A prospect, or a lead, is a potential customer • Prospecting is especially important in business-to-business selling situations.

  24. Sources and Methods of Prospecting • Employer Leads • Some firms employ entire telemarketing teams to generate leads • Some rely entirely on their salespeople to find new customers

  25. Sources and Methods of Prospecting • Telephone directories • Trade and professional directories

  26. Sources and Methods of Prospecting • Newspapers • Birth announcements • Reports of business mergers • Commercial Lists • Salespeople can buy lists of potential customers • Email lists

  27. Sources and Methods of Prospecting • Customer Referrals • The names of other people who might buy a product. • Endless chain method – salespeople ask previous customers for names of potential customers.

  28. Sources and Methods of Prospecting • Cold Canvassing – blind prospecting • Going door-to-door • Selecting names from the phone book at random

  29. Preparing for the Sale in Business-to-Business Selling • The preapproach activities vary depending on whether the sales call is with a previous customer or a new prospect • Research to determine the customer’s needs • Set an appointment for a face-to-face meeting

  30. Preparing for the Sale in Retail Selling • Straighten and arrange stock • Adjust price tickets • Learn about stock and it’s location • Arrange displays • Clean the floor, shelves, and selling area

  31. Company Policies and Training • Training • Four-step method – explanation, demonstration, trial, critique • Compensation and Sales Quotas • Often compensated by commission (% of what is sold.) • Sales quotas are dollar or unit sales goals set for the sales staff to achieve in a specified period of time. • Legal and Ethical Issues • No hard-sell tactics! • Must fully disclose the facts.

  32. The Sales Process What You’ll Learn • The seven steps of a sale • The importance and purposes of the approach in the sales process • How business-to-business sales representatives conduct the initial approach • The three initial approach methods used by retail salespeople

  33. Steps of a Sale • Approaching the customer • Determining needs • Presenting the product • Overcoming objections • Closing the sale • Suggestion selling • Relationship building

  34. Approaching the Customer • The first face-to-face contact with the customer. • Can make or break a sale • Sets the mood or atmosphere • Establishes a relationship

  35. What your mother said is true . . .

  36. You never get a second chance to make a first impression!

  37. The Approach in Business-to-Business Selling • Set up an appointment • Introduce yourself with a firm handshake and a smile. • Be more personal with customers you know. • Use good opening statements with new customers.

  38. The Approach in Retail Selling • If customer is in a hurry, approach quickly. • If customer is undecided, let them look. • Encourage customers to look around and to ask questions.

  39. Methods for the initial approach: Service Approach Method • Ask if assistance is needed. • “May I help you?” • Problem – customer says, “I’m just looking.” • Instead, ask “How may I help you?”

  40. Greeting Approach Method The salesperson welcomes the customer “Good morning.” Establishes a positive atmosphere.

  41. Merchandise Approach Method Let the customer look around. When they show interest in a product, the salesperson makes a comment or asks a question. The most effective approach because it gets the customer talking about the merchandise he/she may be interested in.

  42. Determining Needs in Sales What You’ll Learn • Why determining needs is an essential step in the sales process. • Three methods used for determining needs.

  43. Why determining needs is important: • Customer needs are related to buying motives. • When customer needs are met, the salesperson experiences a feeling of success.

  44. When to Determine Needs: As early in the sales process as possible, usually right after the approach

  45. How to Determine Needs • Observing – Nonverbal communication (body language such as facial expressions, hand motions, and eye movement.)

  46. How to Determine Needs • Listening – Helps you pick up clues

  47. How to Determine Needs • Questioning – Gets the customer talking • Begin with general questions about intended use. • Then ask Who, What, How questions

  48. Guidelines for Questioning • Do ask open-ended questions that encourage talking • Do ask clarifying questions to make sure you understand needs • Don’t ask too many questions in a row – customer may feel cross-examined • Don’t ask questions that might embarrass or put the customer on the defensive

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