International Marketing S e l l i n g … Lloyd Corder, Ph.D. 74-80A, Fall 2008, Session 10.
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Transcript of International Marketing S e l l i n g … Lloyd Corder, Ph.D. 74-80A, Fall 2008, Session 10.
International Marketing
S e l l i n g …
Lloyd Corder, Ph.D.
74-80A, Fall 2008, Session 10
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1. How does marketing fit with sales?
2. What are the key steps of the sales
process?
Corder’s Questions
Believe in the power of feedback.
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How does marketing fit with sales?
1.
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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.
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5 Stage Buying Process
Sense a problem
Explore possible solutions
Wonder if the “right decision” was made
Compare options
Make a buying
decision
John Dewey problem solving method
Sales = process of using persuasion to move “prospects” to next step—and
keeping them sold after the sale
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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
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Ancient Model of Persuasion
Ethos
LogosPathos
Personal Credibility
Feelings & Emotions
Logical Reasoning & Power of Naming
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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)
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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
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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
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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
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What are the key steps of the sales process?
2.
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The Sales Process
Typical 1st
Meeting
Sales Proposal & Closing
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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.
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Message Make-upYour
EstimateExpert
Estimate
Visual(What Is Seen) _____ % _____ %
Vocal(How You Say
It) _____ % _____ %
Verbal(What You Say) _____ % _____ %
Rapport is built through verbal and nonverbal communicatio
n
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What’s Being Communicated?
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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?
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Children & Touch
Source: Burgoon & Saine, The Unspoken Dialogue
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Personal Space
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Seating ArrangementsConfrontation Seating
Cooperative Seating
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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”
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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”
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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)
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Doctor Example
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Pleasure or Pain
Features
Benefits
Pleasureor Pain
(Real Reason for Buying)
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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)
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Iceberg Strategy (For Finding Pain)
Problem Prospect Describes
Real Problem or Pain
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Common Pains (Felt from Declining…)
● 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
Source: Sam Deep & Lyle Sussman Close the Deal
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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?
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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
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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?
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Dummy Curve
Source: David Sandler, Sandler Selling System
Beginners and “professionals” are often more
effective, because the keep asking
questions, don’t make
assumptions and get prospects emotionally
involved in the sale.
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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?”
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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)
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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.
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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!
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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
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Handling Objections & Closing
● Assumptive close● Ben Franklin (Positives vs.
Negatives)● 1-10● False urgency● Menu approach
+ -
Zig Ziglar’s book provides 100+
closing techniques
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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!