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186 Cards in this Set
- Front
- Back
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Many experts believe it is the most important activity a salesperson does
The world is constantly changing More important in some fields than in others No salesperson can ignore leads, even in a position requiring less emphasis on new contacts |
Importance of Prospecting
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5 Characteristics of a Good Prospect:
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1. Does a want or need exist?
2. Does the lead have the ability to pay? 3. Does the lead have the authority to buy? 4. Can the lead be approached favorably? 5. Is the lead eligible to buy? |
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The most effective source for leads
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satisfied customers
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Gatherings designed to allow current customers to introduce prospects to the salesperson, to generate leads
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referral events
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Additional sales to satisfied customers who provide leads
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selling deeper
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Customer who tells others about how poorly you or your product performed
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negative referrals
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3 ways to maximize usefulness of satisfied customers:
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1. Make a list of potential references from among most satisfied customers
2. Decide how each customer can help 3. Ask for the names of leads and the specific type of help needed |
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salesperson uses personal relationships with those who are connected and cooperative to secure leads
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networking
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5 Suggestions for Networking:
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1. Call at least two people a day and go to at least one networking event every week
2. Mingle at events 3. Learn about your prospect's business and non-business interests 4. Thank your contacts for leads 5. Follow up with your new contact on a regular basis |
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sales person cultivates well-known, influential people in the territory who are willing to supply lead information
Buying community May never buy |
center of influence
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Salesperson uses websites, e-mail, listservers, bulletin boards, forums, roundtables, and newsgroups to secure leads
Extranets E-selling |
the internet
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Salespeople use these forms of promotional activities to generate leads
Postcard pack Bounce-back card |
ads and direct mail
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Salespeople use these venues for lead generation
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shows, fairs, and merchandise markets
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Appeal to a specialized market
Invite good prospects Go high-quality Be involved before, during, and after |
seminars
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Salespeople use secondary data sources, which can be free or fee-based
SICs and NAICS Purchasing lists |
lists and directories
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Salespeople use sophisticated data analysis software and the company’s CRM system to generate leads
Interactive databases |
data mining
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Salesperson tries to generate leads by calling on totally unfamiliar organizations
A blitz |
cold calling
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Salesperson pays someone for lead information
Also called bird dogs |
spotters
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Salesperson uses phone staff to generate leads
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telemarketing
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7 Other Sources of Leads?
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1. Personal observation
2. Nonsales employees within the salesperson’s firm 3. Government agencies 4. Clubs 5. Other salespeople 6. Trade associations 7. Volunteer activities |
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First step in the sales process?
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Locating prospective customers
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T/F?
Not all sales leads qualify as good prospects |
True
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What is the best method to locate prospects?
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Satisfied customer
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2 Necessities for Effective Prospecting?
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1. Developing a lead qualification and management system
2. Overcoming reluctance to prospect |
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3 Reasons to plan the sales call?
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1. The buyer’s time is valuable
2. The seller’s time is valuable 3. Planning must fit into the salesperson’s goal for the account |
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3 Steps of the Planning Process:
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1. Gathering information about the prospect and firm
2. Setting objectives for the call 3. Making an appointment |
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Can reduce embarrassing situations and increase the probability of meeting the prospect's needs and developing a long-term relationship
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Obtaining Precall Information
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Name (including pronunciation)
Family status Education Aspirations Interests and disinterests Social style |
Personal
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Toward salespeople
Toward your company Toward your product |
Attitudes
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Formal reporting type
Important reference groups and group norms Bonds that the prospect has already formed with other salespeople |
Relationships
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Type of organization
Size, number of locations Products and services offered Financial position and its future Overall culture of the organization |
demographics
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Types
Benefits they seek from the prospect’s products and services |
prospect's customers
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Who they are
How they differ in their business approaches Prospect’s strategic position in the industry |
prospect's competitors
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Amount purchased in the product category
Sole supplier or multiple suppliers – why? Reason for buying from present suppliers Level of satisfaction with suppliers Reasons for any current dissatisfaction with suppliers or products |
historical buying patterns
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Type of buying process
Strengths and weaknesses of potential competitors |
current buying situation
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How they fit into the formal and informal organizational structure
Their roles in this decision Who is most influential Any influential adversaries Current problems the organization faces Stage in the buying cycle |
people involved in the purchase decision
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About salespeople
About sales visits About purchasing and contracts |
policies and procedures
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Sales portals
Selling center |
resources within your company
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Prospect company’s own Web page
Personalized Web pages Hoovers, Factiva, etc. |
the internet
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Trade show
Lists and directories Center of influence Outside consultant U.S. government’s export portal U.S. Commercial Service market research library |
Other Sources of Information
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Review what has been learned from precall information gathering
Understand what relationship the firm wished to have with the prospect |
Setting Call Objectives
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3 Things to take into account when developing call objectives:
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1. Firm's goals
2. Sales team's goals 3. Salesperson's goals |
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All Sales Call Objectives should be:
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1. Measurable
2. Realistic 3. Specific |
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Set objectives that require?
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a buyer's response
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SMART?
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Specific
Measurable Achievable Realistic Time-based |
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The actual goal the salesperson hopes to achieve
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primary call objective
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The minimum a salesperson hopes to achieve
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minimum call objective
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The most optimistic outcome the salesperson thinks could occur
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optimistic call objective
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Remaining objectives after the primary objective
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secondary call objectives
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What is a good primary objective for a first session?
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To have another chance to visit
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4 Things to consider in setting objectives for several calls?
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1. Keep good records
2. Make necessary adjustments in long-term call objectives 3. Prepare for the next sales call 4. Consider whom to call on in upcoming meetings |
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Based on perceptions of how the salesperson’s product or service can add value
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How Buyers are Setting Goals
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On-time delivery
To-spec quality of products Competitive pricing Proper packaging/paperwork Technical support service Quality of sales calls Level of technological innovation Good emergency response |
What buyers look for to increase value
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Most often used to make the initial appointment
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telephoning
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Goal of telephoning?
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Make the appointment
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Salespeople need to anticipate _________ and decide exactly how to respond
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objections
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Salespeople should do this before calling on customers?
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make appointments
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The content of an actual sales call depends on what 2 things?
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1. Specific Situation
2. Extent of the established relationship |
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Four A’s of selling process?
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Acknowledge
Acquire Advise Assure |
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What should you do when waiting for the prospect?
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Make good use of your waiting time
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Making a favorable first impression usually results in a prospect who is willing to ______.
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listen
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3 Important Things to remember in regards to looks when making a first impression?
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1. Be well-groomed
2. Be confident 3. Smile |
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When making a first impression, you should modify your behavior based on?
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a prospect's state
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2 Things to take into consideration when selecting a seat and making a good impression?
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1. Be aware of your surroundings
2. Read the prospect's nonverbal cues |
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Prospects use the first few minutes to determine?
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if they will benefit from the interaction
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Salespeople basically have less than ___ minutes to get credibility with the client
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six
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Most important aspect of getting the customer's attention?
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presentation opening
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Simply introduce yourself
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introduction opening
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Tell about someone who referred you to the buyer
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referral opening
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Start by telling some benefit of the product
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benefit opening
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Demonstrate a product feature and benefit as soon as you walk up to the prospect
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product opening
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Start by complimenting the buyer or buyer’s firm
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compliment opening
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Start the conversation with a question
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question opening
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Should be the goal of every salesperson
Small talk Office scanning Consider cultural and personality differences Share goals or agenda |
Developing a rapport
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3 Things to do when making a good impression and things go wrong?
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1. Maintain the proper perspective and a sense of humor
2. Apologize 3. Think before you speak |
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in selling is a close, harmonious relationship founded on mutual trust
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rapport
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After capturing the buyer’s _________, it is time to identify the buyer’s _____.
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attention; needs
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This is part of qualifying the prospect?
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discovering needs
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require the prospect to go beyond a simple yes-or-no response
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open questions
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require yes, no, or short “fill-in-the-blank” type response
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closed questions
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In most cases salespeople need to ask?
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open and closed questions
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Objective of asking open and closed questions?
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summarize the prospect's needs
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General data-gathering questions
Can be answered through precall information gathering and planning |
situation questions
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Questions about specific difficulties, problems, or dissatisfactions
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problem questions
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Help the prospect recognize the true ramifications of the problem
Motivate the prospect to search for a solution to the problem |
implication questions
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Questions about the usefulness of solving a problem
Solution centered |
need payoff questions
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Encourages the prospect to define the need
Prospect views the salesperson more as a consultant trying to help than as someone pushing a product |
SPIN®
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SPIN?
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Situation questions
Problem questions Implication questions Need payoff questions |
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2 Things to consider when developing a strategy for the presentation?
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1. Prioritize buyer needs
2. Discuss features that address buyer needs |
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quality or characteristic of the product or service
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feature
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the way in which a specific feature will help a particular buyer
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benefit
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FEBA?
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Feature
Evidence Benefit Agreement |
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Allows the salesperson to stop talking and encourages two-way conversation
Lets the salesperson see whether the buyer is listening and understanding what is being said May show that the prospect is uninterested |
verbal probing
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Changing direction
Collecting additional information Developing a new sales strategy Altering the style of presentation |
Making Adjustments while Assessing Reactions
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Clearly delineate the time she or he thinks the call will take and then stop when the time is up
Offer concrete evidence to back up verbal statements Avoid making statements that do not have the ring of truth to them Make a balanced presentation that shows all sides of the situation Recognize subcultural differences Demonstrate product expertise Keep it simple Be willing to say, “I’m sorry, I was wrong on that,” or “I don’t know the answer to that, but I’ll get it to you.” Never use a word unless you know the exact definition |
Building Credibility During the Call
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Make every possible effort to ____________ during a sales call.
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create a good impression
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Establish ____________ before beginning any discussion of product information
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the prospect's needs
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Translate _________ into _________ for the buyer.
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features; benefits
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Make any necessary adjustments in the presentation based on _______ __________.
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buyer feedback
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3 things a salesperson should do when selling to a group?
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1. Gather information about the needs and concerns of each individual who will attend
2. Uncover the ego involvement and issue involvement of each group member 3. Develop meeting objectives and individual prospect objectives |
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5 Characteristics of a Strong Presentation:
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1. Keeps the buyer’s attention
2. Improves the buyer’s understanding 3. Helps the buyer remember what was said 4. Offers proof of the salesperson’s assertions 5. Creates a sense of value |
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2 Things a Salesperson Should Ask Themselves:
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1. How can I use my imagination and creativity to make a vivid impression on my prospect or customer?
2. How can I make my presentation a little different and a little stronger? |
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A seller should strategically select _______ and _____ that will helpfully address the needs of the buyer
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methods; media
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colorful, visual, positive
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expressives
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clean, simple, detailed
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analyticals
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people-filled, slow-paced
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amiables
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crisp, professional, to-the-point
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drivers
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4 Elements to consider when strengthening your presentation:
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1. How many people will attend
2. Which stage of the buying process they are in 3. What information they need 4. What type of situation this is |
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Use the ______ of the story to tie back directly to your presentation
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"hook"
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Keeps buyer interest
Cross-sectional models |
models, samples, and gifts
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Help to effectively communicate information
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catalogs and brochures
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should carefully match satisfied user and prospect
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testimonials
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The person who writes the ___________ should be above reproach
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testimonial
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Test results from ____-______ organizations have more clout
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third-party
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are statements written by satisfied users of a product or service
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testimonials
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Be prepared
Secure a proper place for the demonstration Check the equipment before beginning Get the prospect involved in a meaningful way Always relate product features to the buyer’s unique need Plan what you will do during any dead time Find out whether anyone present has used your product before |
product demonstration
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Don’t forget the goal of your meeting
Don’t cram too much information on a page Don’t drown your prospect in information Important for foreign buyers |
handouts
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written documents provided to help buyers remember what was said
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handouts
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Include customer’s specifications for the desired product, including delivery schedules
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RFP Process
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4 Things to include in the body of the proposal:
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1. The total cost minus the total savings
2. A brief description of the problem 3. A brief description of the proposed solution 4. Budget |
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Know your audience well
Know what you’re talking about Prepare professional, helpful visuals Be yourself Get a good night’s sleep For presentations to groups, feed off the energy and enthusiasm of several friendly, happy-looking people in your audience Recognize the effect of fear on your body and reduce the accompanying stress manifestations Visualize your audience as your friends Psych yourself up for the presentation Realize that everyone gets nervous before a presentation at times Practice, practice, practice |
Dealing with the Jitters
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Strengthening ___________ with the buyer is important.
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communication
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A backbone of many sales presentations is the ______ _____________
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product demonstration
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All communication tools require ______ and _________ to be used effectively
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skill; practice
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3 Things that show proper attitude:
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1. Answering sincerely
2. Refraining from arguing or contradicting 3. Welcoming objections |
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Salespeople must assume the attitude of ______, __________, and _______ and act accordingly
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helper, counselor, advisor
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_________ present sales opportunities
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objections
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Don’t _____; listen and understand
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argue
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4 Times where buyers raise objections:
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1. Setting up an initial appointment
2. Presentation 3. Attempting to obtain commitment 4. After the sale |
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5 Types of Common Objections:
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1. Related to Needs
2. Related to the Product 3. Related to the Source 4. Related to the Price 5. Related to Time |
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5 Behaviors of Successful Salespeople:
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1. Anticipate objections
2. Forestall known concerns 3. Relax and listen 4. Evaluate objections 5. Always tell the truth |
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prevent by doing something ahead of time
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forestall
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No ________ ______ exists for answering all objectives completely
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perfect method
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In some instances, spending a lot of _____ trying to convince the prospect may not be wise
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time
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Can be verbal or nonverbal
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probing method
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3 Places where blunders occur with a salesperson:
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1. Does not understand the question
2. Answers the wrong question 3. Fails to fully answer the objection |
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7 Effective Response Methods:
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1. Direct denial
2. Indirect denial 3. Compensation method 4. Referral method 5. Revisit method 6. Acknowledge method 7. Postpone method |
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The salesperson makes a relatively strong statement to indicate the error the prospect has made
Appropriate only when the objection is blatantly inaccurate Should never be used if the prospect is merely stating an opinion |
direct denial
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The salesperson denies the objection but attempts to soften the response
The salesperson must recognize the position of the customer who makes the objection and then continue by introducing substantial evidence |
indirect denial
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Buyers may object because the salesperson’s product is less than perfect
Acknowledge objections and then show any compensating advantages Also referred to as superior benefit method Also use when the prospect tries to put off closing the sale |
compensation method
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Feel-felt-found method
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referral method
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Salesperson turns the objection into a reason for buying (boomerang method)
Works with most personality types |
revisit method
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Buyer voices opinions or concerns to vent frustration
Salesperson listens, acknowledges, pauses, then moves on Should not be used if the objection is factually false |
acknowledge method
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Buyer raises objections the salesperson would prefer to answer later in the presentation
The salesperson should ask permission to answer the question at a later time Most useful when a price objection occurs early in the presentation |
postpone method
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Most frequently mentioned obstacle
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the price objection
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3 Things to do when faced with a price objection:
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1. Use up-to-date information
2. Establish the value 3. Use communication tools effectively |
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Sellers need to maintain a positive attitude, even with rude, hard-to-get-along with prospects
It may be appropriate to point out the prospect’s rudeness The buyer’s culture often dictates their response to a seller |
Dealing with Tough Customers
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Responding to ___________ is a vital part of a salesperson’s responsibility
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objections
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______ object for many reasons
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buyers
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Effective methods of responding to __________ are available, and their success has been proved
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objections
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Buyers want to ___, not be sold
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buy
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Reliance on closing techniques may ______ the chance of making a sale
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reduce
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No __________, no ____
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commitment; sale
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Tells the salesperson what to do next
Defines the status of the client Time to make a sale Customer realization of benefits Company good will and profit Financial rewards for the salesperson |
Importance of Securing Commitment
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Usually discussed at the end
Present with confidence Not the focus of the presentation |
Presenting Price
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Price is set after studying what 3 things:
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1. Competitor's offerings
2. Value delivered by the product or service 3. Cost of providing the product or service |
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Buyer questions
Requirements Benefit statements Responses to trial closes |
buyer comments
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Facial expressions
Actions |
nonverbal cues
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are conditions that have to be met before a purchase can take place
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requirements
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4 Steps to Obtain Successful Commitment:
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1. Maintain a positive attitude
2. Let the customer set the pace 3. Be assertive, not aggressive 4. Sell the right item in the right amounts |
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The salesperson’s purpose is to sell the right _______ in the right _______
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product; amounts
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The seller should ____ in a fashion consistent with the way the buyer prefers to ___
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sell; buy
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Buyers need a ______
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choice
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5 Effective Methods for Closing the Deal:
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1. Direct request
2. Benefit summary 3. Balance sheet method 4. Probing method 5. Alternative choice |
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Simply ask for it
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direct request
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Reminds the buyer of the agreed-on benefits of the proposal
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benefit summary
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List pros and cons
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balance sheet method
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Initially uses another method
Uses a series of probing questions Consider cultural differences |
probing method
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Closing method that limits choices
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alternative choice
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The buyer must trust the ___________, the _______, and the _______
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salesperson; company; product
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6 Traditional Closing Methods:
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1. Minor-point close
2. Continuous yes close 3. Assumptive close 4. Standing-room only close 5. Benefit-in-reverse close 6. Emotional close |
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6 Things to do if commitment is obtained:
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1. No surprises
2. Confirm the customer's choice 3. Get the signature 4. Show appreciation 5. Cultivate for future calls 6. Review the actions to be taken |
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3 Reasons for Lost Opportunities:
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1. Wrong attitudes
2. Poor presentation 3. Poor habits and skills |
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Critical so that salespeople can proceed intelligently to eliminate the barriers
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discovering the cause
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3 Suggestions for dealing with rejection:
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1. Maintain the proper prospective
2. Recommend other sources 3. Maintain good manners |
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Most sales take several _____ to complete
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calls
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3 Things to do when leaving a clear plan for all parties:
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1. Review what you will do next
2. What the customer will do next 3. When you will meet again |
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2 Things to do when bringing the interview to a close:
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1. Leave with a clear plan for all parties
2. Follow up promptly with a thank you and reminder note |
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__________ cannot be obtained by some magical or miraculous technique if the salesperson has failed to prepare the prospect to make this decision throughout the presentation
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commitment
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Commitments should result in a ___-____ situation for all parties
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win-win
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_______ is an important element of any sale and is usually presented at the time of closing
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pricing
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There is no one “right” time to obtain __________
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commitment
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To successfully obtain commitment, the salesperson needs to do what 4 things:
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1. Maintain a positive attitude
2. Allow the customer to set the pace 3. Be assertive rather than aggressive 4. Sell the right item in the right amounts |
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No one method of obtaining _________ works best for all buyers
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commitment
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If _________ was obtained, the salesperson should immediately assure the buyer that the choice was judicious
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commitment
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If commitment was not obtained, the salesperson should _____________________.
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analyze the reasons
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