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47 Cards in this Set
- Front
- Back
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Prospecting |
Finding new people |
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Referrals |
- 1-3 effectiveness ratio - transfer of trust or friendship - must come from a client |
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COI Center of Influence |
- 1-10 effectiveness ratio - nonclients, but are still in position to introduce you to people
ex: for real estate agents COI = landscapers, interior designers, etc |
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Networking |
- People who gather together for a common purpose
---Typically meet once a month in a happy hour setting --- All charge "dues" --- Have levels of membership |
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Networking TIPS |
- only join organizations you truly believe in - limit number of orgs. you join (2 is appropriate) - join committees, especially new member com. - don't skip meetings, get yourself known - join at highest level possible - be patient, could take 2 years to get new client |
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Mailings |
- 1-100 effectiveness ratio - very few people but things of value that are marketed like this
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Cold Calling |
1- 250 effectiveness ratio -if you are constantly rejected, you will struggle to build character - only be surprised when you are NOT successful |
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Approaches For Developing Knowledge |
1. Tap the knowledge of sales experts (high numbers & in the field for a while) 2.Read for 30 minutes a day on something related to your industry or competition 3. Ask for feedback on how you're doing from honest people (not your biggest fans) 4. Analyze your success and failures (failures make you ask yourself what went wrong?) |
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What makes for a good joint partnership? |
1. Complementary personality types; not the exact same
2. Orderly agenda - work out who's going to talk about what
3. Put your ego on the shelf |
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Why Plan a sales call? |
- Increase productivity - Save time |
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Pre-Call Information |
NATOIF -name -address -telephone # -occupation -income (approximate) -family status |
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Optional Additional Pre-call information |
-background/connection to company -education -hobbies/interests -put them through a search engine |
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Call Objectives |
1. Visionary objective (exceeds expectations) 2. Primary objective (meets expectations) 3. Minimum objective (the least you can walk away with) |
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Paradigm Shift |
- sales managers have a responsibility to shift comfort zones up -you want people to be hitting their potential -people tend to stay within 10% of their comfort zone |
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Stage One |
DISCOVERY MEETING - 15-20 min in length PURPOSE: 1. Is there a need? 2. Is it a single need or are there multiple needs? 3. What's our next step?
COMPONTENTS: 1. Introduction 2. Rapport 3. Personalized Mission Statement 4. Surey 5. Next step
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Stage Two |
PROFILE MEETING PURPOSE: 1. to get enough information to make a presentation 2. to get referrals AGENDA: -- start with the second meeting and for every meeting after, use an agenda. Give a copy to client and keep one for yourself COMPONTENTS: 1. recap discovery meeting 2. thorough and complete fact find (NEAD ANALYSIS) 3. set a date and time for stage three 4. referrals and introductions |
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Types of Presentations (3) |
1. Standard Memorized Presentation 2. Outlined Presentation 3. Customized Presentation |
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Standard Memorized Presentation |
1. Same for everybody 2. Consistent, inexpensive 3. No flexibility |
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Outlined Presentation |
1. Hybrid or combination of standardized memorized and customized 2. Part of the presentation is the same for everyone, the rest is customized 3. Not too expensive 4. Still not custom enough for some people |
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Customized Presentation |
1. Can only be used one time 2. Look like a lot of time has been put into them 3. Expensive, time consuming 4. Only do them if it's a high network client or heavy competition |
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Characteristics of a Strong Presentation (5) (don't NEED all five - any will help you) |
1. Keeps buyers attention 2. Improves buyers understanding 3. Helps buyers remember what was said (speak in personality type) 4. Offers proof of the salesperson's assertions (assertive people have conviction in their beliefs which translates to the listener) 5. Creates a sense of value |
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Characteristics of a Good Prospect (5) (if you don't have all five it's over) |
1. Must have a need (don't be professional presenter - only present when necessary) 2. Affordability 3. Authority 4. Favorable conditions to present 5. Eligibility
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Visual Tools |
1. Charts (analytical/visual people) 2. Models, Samples, Gifts (kinetic people) 3. Catalogues and Brochures (by definition perfect; make sure you internalize it and make it part of yourself) 4. Testimonials (must be written by someone with high credibility) 5. Electronic - blue ray, podcasts, powerpoint (visual people)
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Stage Three |
-only present to people you know are going to buy. if someone has all characteristics of good prospect, they should be purchasing PURPOSE 1. To implement the product or service 2. To get referrals COMPONENTS 1. Recap the profile meeting to bring back emotion 2. Assess each need individually and make recommendation 3. Steps for qualification and implementation (get signature/payment) 4. Set a date and time for stage 4 5. Referrals and introductions 6. Blank line (questions and concerns) |
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When can objections happen? |
1. Setting up the initial appointment (people don't want to lose time) 2. During the presentation themselves (if you're proposing something new) 3. Attempting to obtain commitment (signature) 4. After the sale (buyers remorse) |
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COMMON OBJECTIONS (9) |
1. I don't need the product 2. I've never done it that way before 3. I don't like the product 4 .I don't understand 5. I need more information 6. I don't like your company 7. I don't like you 8. I don't have the money 9. I need to think it over |
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Preparing to Respond to Objections (how to respond?) (6) |
1. Positive attitude 2. Anticipate the objection 3. Relax, Listen, Don't interrupt 4. Forestall known concerns 5. Evaluate the objection 6. Excuses hide objections behind them |
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Response Methods (6) |
1. Direct Denial ("no we would never dump toxic waste into lakes") 2. Indirect Denial ("isn't your CEO's name johnson? A lot of people get that confused, it's Jack" 3. Compensation technique (trying to minimize objection in the big picture) 4. FFF - Feel, Felt, Found ("I can see how you would feel that way - Others felt similarly - Here's what they've found) 5. Boomerang (objection becomes the reason to purchase. "there's only 4 left - exactly we sold out so fast) 6. Postpone |
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Importance of Closing |
-- Old model says 40% should be devoted to closing -- Correct/current model says no more than 10% should be devoted to closing -- Should be nothing more than the customer's logical next step |
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When to attempt to close |
1. Buyers comments (buyers talk as if they already own the product... have to disclose anything vital left in the presentation about material product - ex: side effects of a drug, money stuff, etc) 2. Nonverbal Cues (body language suggests they're ready to buy... taking out checkbook/CC, leaning forward the whole time) |
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How to Successfully Obtain Commitment (4) |
1. Positive Attitude 2. Let the customer set the pace 3. Be assertive, not aggressive 4. Sell the right Items in the right amounts
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Methods to Obtain Commitment |
1. Qualification 2. Yours vs Ours ----> (t-chart with "yours vs ours": your responsibility is (cost of product), our responsibility is (product benefits), if you do not live up to your responsibility, then our responsibility becomes yours again)
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Post-Closing Behaviors to Embrace |
1. No surprises (shouldn't be shocking to close) 2. Congratulate them on their choice 3. Get referrals |
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Post-Closing Behaviors to Avoid |
1. Superbowl (think: touchdown dance. After making sale, salesperson acts like they scored winning TD)
2. World's Fastest Human (salesperson runs away from sale once completed) |
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Reasons for Failure |
1. Poor attitude 2. Poor presentation (no discovery meeting, no profile, etc) 3. Poor habits (bad time mgt, not using written agendas) |
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Importance of Referrals (3) |
1. For every 3 referrals you should have one new client 2. Half of salespeople do not as for referrals b/c they're too shy and don't want to impose 3. Wrong way to ask: -- "Do you know anyone who can help me?" -- "Can I leave some business cards to pass out?" -- "I can tell you're extremely busy, can you put together a list of names and i'll call later in the week?" (no emotion) |
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Methods of Getting Referrals |
1. Isolate Faces -- narrow down where they can give you names "is there anyone you play golf with that might be interested?" ... now you have rapport and referral 2. Urgency method -- after you make a sale, ask "if you did what i do for a living, who would be the first five people you would call without hesitation?" 3. Letterman method -- write a list for them to fill out with names in 5. 4. 3. 2. 1. order (psychologically makes people want to fill out the list) |
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Stage Four |
CONFIRMATION MEETING COMPONENTS 1. Review what they purchased 2. Ensure the initial use of the product 3. Create systems for reordering 4. Set up a review schedule 5. Referrals and introductions 6. Blank line (questions and concerns) |
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Stage Five |
REVIEW MEETING PURPOSE/COMPONENTS: 1. To see what has happened since we last met 2. To anticipate changes going forward 3. Referrals and introductions |
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Issues with reviews |
1. How often to conduct them -- every 3 mo. the first year -- every 6 mo. the second year -- once a year thereafter
2. As you get more clients it becomes physically impossible to see everyone face-to-face |
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MANAGING YOUR CAREER |
1. Understand you needs (STRUCTURE, MOTIVATION, STRESS) 2. Know what you have to offer (SKILLS, KNOWLEDGE, QUALITIES) 3. Understand your company (THEIR NEEDS, WHAT THEY HAVE TO OFFER) |
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Resumes |
1. One page, one side of page 2. Have 4 references to go at all times (4 personality types) 3. Grades - don't list unless 4.0 4. List academic achievements 5. NO "objectives" statements 6. Special skills - make sure they're actually special
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Interviews |
-- Stress Interviews (focus on how you conduct yourself in the interview vs actual content) -- Panel interviews (get business card of everyone in room, try to get personality types by card. Leader/decision maker will probably ask fewest questions -- Group interview (one will attempt to break away fast - resist urge to do this. Ask open ended questions, read people around you) |
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Planning for Formal Negotiation (3) |
1. Location - should be neutral 2. Time allotment - try not to set deadlines, best times = tuesdays, wednesdays and thursdays in the morning 3. Negotiation Objectives --TARGET = what you hope to achieve -- MINIMUM = least you can accept -- OPENING = initial proposal
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Individual Behavior patterns while negotiating (5) |
1. Competing - highly assertive & uncooperative 2. Accommodating - highly unassertive & cooperative (usually lose) 3. Avoiding - highly unassertive & uncooperative (goal is to not reach agreement) 4. Compromising - middle of assertive & cooperativeness 5. Collaborating - highly assertive and highly cooperative (best way to negotiate) |
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Win-Lose Negotiators (be aware of...) |
1. Good cop/bad cop 2. Low balling - two people negotiating, one gives impression they're done but really they aren't 3. Emotional Outburts - someone gets emotional to the point where the other says "what can i do to help?" Answer = make a concession. 4. Budget limitation tactic - try to minimize price in the big picture, meanwhile its the entire picture 5. Browbeating - take away someone's enthusiasm at the start of the negotiation session |
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How to handle Win-Lose Strategies when negotiating |
1. Detach yourself (replace emotion w/ logic) 2. Acknowledge their position and then respond 3. Build them a bridge (take good of what they said and incorporate it into their final answer) 4. Warn but don't threaten |
