Selling Your Product
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Transcript of Selling Your Product
Section 9.1 Principles ofSuccessful Selling
Section 9.2 Estimating Sales
OBJECTIVES
Explain the importance of personal selling List the characteristics of successful salespeople Describe the main parts of the selling process Understand the key documents and forms used
in selling
2Section 9.1: Principles of Successful Selling
Personal selling has several advantages over other types of promotion:Helps Build Personal Relationships. Personal selling involves contact by means of face-to-face meetings, telephone calls, and videoconferencesAllows for Customized Communication. Because personal selling is an interactive form of communication, salespeople have the opportunity to adapt their message to each potential customer. Helps Reach Business Customers. Personal selling’s two-way method of communicating is especially effective for selling to business customers.
3Section 9.1: Principles of Successful Selling
Positive Attitude. Successful salespeople focus on the positive, even when times are tough.
Good Listener. Successful salespeople learn how to ask their customers quality questions and then listen closely without interrupting.
Persistent. Patience and persistence are needed by all salespeople who wish to become successful.
Hard Worker. Salespeople must take responsibility for their own success, make goals for themselves, and form strategies to reach them.
Truthful. Be honest with customers. Establish trust for a positive, long-term business relationship.
Consistent. To become successful, you need to be dependable. Consistency builds trust, which leads to better customer relationships.
4Section 9.1: Principles of Successful Selling
The main steps in the selling process are: Finding and qualifying sales leads Preparing for a sales call Making the sales call Closing a sale and following up
A sales lead is a person or company that has some characteristics of your target market. Leads are obtained in several ways: Promotional Responses Referrals Data Mining Cold Calls
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Before making a sales call, you should: Set Up an Appointment Learn About the Prospect Know Your Product or Service Develop an Overall Selling Strategy Write a Presentation Outline
To make your sales calls more successful: Be on Time Try to Build Rapport Ask Questions and Take Notes Answer Objections Ask for a Commitment
Follow up with new customers to make sure that process met their expectations.
6Section 9.1: Principles of Successful Selling
Commonly used sales forms include:Sales Call LogsSales ProposalsOrder FormsSales ReceiptsSales Contracts
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Call Log
OBJECTIVES
Consider who may be needed in your sales force Identify costs related to a sales force Explore methods used to estimate sales
8Section 9.2: Estimating Sales
Your sales force planning should answer such questions as:
What selling methods do you plan to use? Who do you need in your sales force? How much and what type of training do you need for
your sales force? How large a sales budget do you need so you can pay
your sales force? What estimated amount of sales can you expect the
sales force to achieve over a specific time period?
9Section 9.2: Estimating Sales
External sales are obtained by hiring another company to do the selling for you.
Internal sales are obtained by you or your employees who sell your products or services exclusively.
Sales force roles include: Order Getting Order Taking Sales Support
10Section 9.2: Estimating Sales
There are three basic expenses related to a sales force:
Compensation Training Expenses
11Section 9.2: Estimating Sales
There are three main options for compensating salespeople:
Salary Only. A salary is a fixed amount of money that an employee is paid on a regular basis.
Commission Only. A commission is an amount paid based on the volume of products or services that a salesperson sells.
Base Salary Plus Commission. Most often, salespeople are paid with a combination of salary and commission.
A sales quota is a target amount of sales per month or quarter that a salesperson is expected to achieve.
A sales territory is the specified geographical area for which a salesperson is responsible.
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Some subjects taught in company training programs are:
Company Information Product or Service Knowledge Target Market Characteristics Information on the Competition General Selling Techniques and Mechanics Technology Skills
13Section 9.2: Estimating Sales
There are four general steps in preparing a sales forecast:
1. Analyzing current conditions2. Reviewing past sales3. Making educated predications about the future4. Estimating your future sales for a specific time
period
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Common forecasting techniques: Full Capacity Observational Data Industry Standards Industry/Seasonal Cycles Team Effort Number of Customers versus Distance Market Share
Proportional Scaling
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Number of Number ofAverage Amount of
Customers Purchases per YearEach Purchase
x x