© Vlerick Business School. THE SALES PROCESS © Vlerick Business School ADAPTIVE SELLING Adaptive...

THE SALES PROCESS


ADAPTIVE SELLING

Adaptive selling entails: Gathering information about each customer

Observing customers’ reactions during the sales call

Showing agility by making rapid adjustments

Tailoring the sales presentation to each customer’s social style


THE KEY TO UNDERSTANDING SOCIAL STYLES

Assertiveness Competitive

Rapid movers

Quick decision makers

Initiative takers

Time sensitive

Responsiveness Friendly

Talkative

Approachable

Less time sensitive

Slower decision makers

More sensitive to others’ feelings


SOCIAL STYLES MATRIX

5 |

Amiable“Show concern for me and my problems”• Supportive• Respectful• Willing• Dependable• Personable

Expressive“I like competent, imaginative salespeople”• Personable• Stimulating• Enthusiastic• Dramatic• Inspiring

Driver“Show me bottom line results”

• Determined• Demanding• Thorough• Decisive• Efficient

Analytical“What I need are practical suggestions”• Industrious• Persistent• Serious• Vigilant• Orderly

ASSERTIVENESS

Low

High

HighLow

RESPONSIVENESS


PERCEIVED RISK

In many sales situations, the most important perception to be dealt with is risk

Salespeople must provide evidence that their solutions will work, reducing perceived risk


TYPES OF RISK IN PURCHASING DECISIONS

Financial

Social

Psychological

Performance

7 |


STEPS IN THE SALES PROCESS

1. Lead Generation

2. Lead qualification

3. Needs Identification: SPIN Selling

Situation

Problem

Implication

Need Payoff

4. Feature/Benefit Presentation

5. Marketing Plan and Business Proposal

6. Close

7. Objection Handling8


LEAD GENERATION

Pre-approach The search for people and organizations that have

a high likelihood of buying

Prospecting Identifying and qualifying the specific people who

might have a want or need that the salesperson’s market offerings could satisfy


THE IMPORTANCE OF PROSPECTING WITH EXISTING CUSTOMERS

Existing customers can switch suppliers if current service is not up to par

Existing customers are being called on by competitive salespeople who are always presenting new information

It is much less expensive to call on existing customers than to find new ones

Existing clients are often the best source of new customers


PROSPECTING TECHNIQUES

Identification

Qualification

Three Categories

Internal sources of prospects

Prospects found by market intelligence

Prospects generated by specific actions


DEVELOPING A LEAD GENERATION PROGRAM

Market segmentation

Lead generation Direct-mail

Telephone selling

Personal visits

Buying customer lists

Using EAGLES


TURNING SUSPECTS INTO BONA FIDE PROSPECTS

Identify MAD Customers

Money to Buy

Authority to Buy

Desire to Buy


FIRST IMPRESSION

You have only one chance to make a favorable first impression Your looks Your actions Your manner of speaking

Salespeople must be conscious of the communication signals they are sending Visual Vocal Verbal/Non-verbal Three V’s


COURTESY AND COMMON SENSE

Ask permission to sit

Never clutter the prospect’s desk or floor without asking his/her permission

Watch the tone of your voice

Always be courteous but not overly friendly or pushy

Never be presumptuous


OPENING THE PRESENTATION

What makes some salespeople standout?

The best sales professionals know: How to emphasize benefits in their presentations

That the most effective presentations must start and finish with the prospect’s needs and wants as the focus

A key question for salespeople as they endeavor to maintain their competitive position is to ask, “What could make the customer more delighted?”


PLANNING PRESENTATION OPENERS

Openers are introductions All sales presentations need effective and brief

introductions

Salespeople must, in the opener, introduce themselves, the company, and the reason for calling on the prospect

Show the prospect that you are aware of his/her situation and that you have a product that can help

An effective opening statement is essential to get the prospect’s attention

Salespeople sometimes find that a minute or two of friendly conversation relaxes prospects and makes for an effective opening strategy (rapport building)


PROSPECT BENEFITS

Selling benefits is what the sales presentation is all about

To use a benefit opener effectively You must learn as much about the prospect as

possible

You must know that the prospect can benefit from your product in the way you describe


OTHER TYPES OF OPENERS

Benefits Third Party referral (AKA- Name dropping) Sincere compliment

Which will be best for the different social styles?


TRIAL CLOSING

Trial closing is a process that helps you find out where a person is in the commitment to buy

The goal of the questions is to receive a 'Yes' commitment to move forward in the sale

The easiest way to formulate a trial close question is by using an 'If/Then' scenario



1. Lead Generation



Situation

Problem

Implication

Need Payoff



6. Close

7. Objection Handling21


THE SPIN QUESTIONING STRATEGY

Situation Questions• Achieve fact-finding objectives• Have low selling impact• Useful at focus of receptivity

Problem Questions• Achieve uncovering satisfaction

objectives• Have moderate selling impact• Useful at focus of dissatisfaction

Implication Questions• Achieve objectives of developing and

channeling dissatisfaction• Have high selling impact• Useful at focus of dissatisfaction and

focus of powerNeed-payoff Questions

• Achieve objectives of rehearsing and selectively channeling customer attention

• Have high selling impact• Useful at focus of dissatisfaction and focus of power


RESPONDING TO TOUGH QUESTIONS

When your prospect asks you tough questions at this stage, you should: Restate the question

Ask “What do you think?” “What makes you ask?”

Start with a general reply

Don’t fake it

You must listen to be able to respond!


EFFECTIVE LISTENING

Effective listening consists of three discrete stages in the listening process:

1. Sensing The actual receipt of messages

2. Processing Activities that occur in the mind of the listener

3. Responding Acknowledgement of the receipt of the message



1. Lead Generation



Situation

Problem

Implication

Need Payoff



6. Close

7. Objection Handling 25


SOLUTION SELLING

Solution selling is the stage at which the salesperson Assumes a knowledgeable role

Begins to earn the right to be an advisor to the prospect

Customizes her presentation of product features and benefits to the prospect’s specific needs and wants


V = Q/PThe value of a delivered product or service increases as the quality of that product/service increases or the price of that product/service declines

V = Value, Q = Quality, and P = Price


VALUE-ADDED SELLING ATTITUDES

Pursue excellence

Define value in customer terms

Seek ways to add value, not cost

Sell to the customer’s needs, not against the competition’s package

Seek ways to deliver proactive value-added service

Value-added selling is a team effort

Responsiveness to the customer is at the heart of value-added selling


SELL BENEFITS NOT FEATURES

Deal only in facts

Sell the prospect results What the product will do--not what it is!


CHECK THEPROSPECT’S TEMPERATURE

Trial closing is like taking the temperature of the buyer’s interest

The temperature question or “trial close” is not a closing question The salesperson is not asking for a decision to buy

Avoid asking closed-ended questions


YOUR MISSION

Ask as many open-ended questions as possible Who

What

When

Where

How

Why



1. Lead Generation



Situation

Problem

Implication

Need Payoff



6. Close



MARKETING PLAN


BUSINESS PROPOSAL


GAINING CONVICTION

To successfully perform the conviction step the salesperson should be sure to:

Explain what the product or service is and how it works

Explain the facts and features and their related benefits

Establish the prospect's belief in the salesperson by presenting evidence

Explain any related information that the prospect would like to know


TRIAL CLOSE

After answering all the prospect's questions and concerns, it is time to trial close again

The salesperson can ask the prospect any of the following questions: “What do you think?"

"How does all of this sound?"

"How do you feel about what I’ve said so far?"


OUTCOMES OF A PRESENTATION

Regardless of the outcome of any one sales presentation, there is more work to be done A prospect buys and becomes a customer

A customer buys again (rebuy situation)

A customer or prospect makes no purchase but requests additional information

A prospect expresses no interest in working with the salesperson's company



1. Lead Generation



Situation

Problem

Implication

Need Payoff



6. Close



HANDLING OBJECTIONS

Effective salespeople are able to: Anticipate objections

Answer them with confidence

Probe for more concerns

Quickly get back to motivating the prospect/customer to make a decision in favor of purchasing


VALUE IMPROVEMENTS

Value improvements can be anything that will help prospects see that their overall situation can be improved through the purchase of a product or service


OVERCOMING OBJECTIONS

The salesperson’s formula for handling objections has five parts:

1. Listen very carefully to the prospect's objection

2. Clarify the concern

3. Cushion the objection

4. Classify the objection to determine when and how to answer it

5. Answer the objection with concern, conviction, and enthusiasm


CLASSIC OBJECTION-HANDLING TECHNIQUES

Forestall the objection

Compensate

Feel, felt, found



1. Lead Generation



Situation

Problem

Implication

Need Payoff



6. Close



EMPLOYING CLOSING TECHNIQUES

Why should salespeople employ closing techniques? Many prospects find it difficult to make decisions Prospects want to make the right decisions, but

complete certainty in buying never exists Many prospects will postpone decisions if salespeople

let them After a sales presentation, prospects often feel

confused and hesitant The salesperson’s goal is to

explain/demonstrate how the benefits of the product or service outweigh the risks associated with buying


TRADITIONAL CLOSING TECHNIQUES

Assumptive Close

Summarizing the Benefits

Reserving an Advantage

Single Benefit Close

Similar Situation Close

Price Reduction Close

Asking for a Trial Order


IF A SALE IS MADE

Before leaving a customer who has agreed to a sale: Show appreciation for the customer's business, but

do not gloat Reassure the customer that the decision is a good

one Solicit sales leads Complete all necessary paperwork, and finalize the

details Be sure to leave with a good understanding of the

customer's expectations


IF A SALE IS NOT MADE

When a sale is not made, the salesperson still has duties to perform: Duties to the customer

Duties to the sales organization

THANK YOU!

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© Vlerick Business School. THE SALES PROCESS © Vlerick Business School ADAPTIVE SELLING Adaptive...

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