Sales Test 2 Review

Front 1

5 questions to help a salesperson determine if a lead is a qualified prospect

Back 1

•Does the lead have a want or need that the purchase of my products or services can satisfy?
•Does the lead have the ability to pay?
•Does the lead have the authority to buy?
•Can the lead be approached favorably?
•Is the lead eligible to buy?

Front 2

Censor of influence

Back 2

•The salesperson cultivates a relationship with well-known, influential people in the territory who are will to supply the names of leads. May never buy personally

Front 3

Primary function of salespeople at tradeshows

Back 3

•Primary function of salespeople is to qualify leads.

Front 4

Secondary source concerning sales leads

Back 4

Know SIC codes, NAICS
•Manuals and directories supply lots of company & industry info
•The prospect- gather as much info as possible prior to meeting
•Other sources-
Trade show, list & directories, center of influence
Hire an outside consultant to collect info if necessary

Front 5

Selling deeper strategy

Back 5

•When satisfied customers not only provide leads but also are usually prospects for additional sales.

Front 6

Purpose of first paragraph of Sales Letter

Back 6

•Gain attention – 3 ways to gain attention
o Focus on strength of the organization
o Focus on your strength
o Focus on offsetting your weaknesses

Front 7

Affective call objectives

Back 7

•SMART method
Specific, Measurable, Achievable, Realistic, Time based
•Salesperson should review what has been learned from pre-call information gathering
•Should not be created in a vacuum (take into account the firm’s goals, the sale’s teams goals, and the sale person’s goals)

Front 8

Know best time to make that call

Back 8

•Depends on the industry
•Generally 9-11:30 and 1:30-4 pm are the best time

Front 9

Reasons for cultivate subordinates

Back 9

• Gatekeepers – buying center members who influence the buying process by controlling the flow of information and/or limiting the alternatives considered.
•Sales people should go out of their way to treat all subordinates with respect and courtesy because
It is the right thing to do
Subordinates can be the key to the salesperson’s success or failure with an organization.

Front 10

Telephoning For Appointments

Back 10

•The phone is most often used to make the initial appointment
•Salespeople need to use the phone correctly and effectively
•Active listening is important

Front 11

Voice mail:

Back 11

•Cold call- best not to leave a message; find out from secretary the best time to call back
•Referral or prior introduction- leave a clear, concise message, including a suggested call back time
•Make the customer comfortable

Front 12

Good impression

Back 12

•Arrive on time
•Entrance
•Gaining buyer interest
(all are important to securing commitment and building partnerships)

Front 13

First Impression

Back 13

•Physical attractiveness and gender matter, unfortunately!
•Generation matters – Gen. X relating to Boomers and traditionalists
•Good impressions – confidence, well groomed, lengthy stride, lively pace, smile, & good opening
•Remember names, exchange business cards, use name at least one more time
•Do not sit down until prospect sits down

Front 14

Know what an open ended question is

Back 14

•Have millions of answers. Don’t conform to just yes or no and reveal critical information

Front 15

Approaches to getting attention

Back 15

•6 minutes to get credibility with clients
•Opening is most important with new clients
•Negative/neutral openings – unsolicited small talk; benefit claim, provocative questions.
•Rapport – prospect perceives salesperson to be LIKE THEM in some way.

Front 16

SPIN method

Back 16

•S = situation
•P = problem
•I = implication of NOT solving the problem
o Critical for customer to articulate what would happen if problem isn’t solved
•N = Need payoff – what the customer receives from solving the problem

Front 17

Seeding

Back 17

sending the customer important and useful things prior to the meeting

Front 18

When things go wrong

Back 18

•Proper perspective – sense of humor
•Importance of NEEDS – you MUST find out prospect’s needs – will explore fully in Role-play presentations
•Closed-ended questions – yes or no answer – do first
•Opening-ended questions – millions of answers
•See Exhibit 8.4 for example questions – P. 214
•Research shows (over 35,000 sales calls in 23 countries)
•That distinguishing feature of successful sales people is their ability to discover needs!!!

Front 19

F&B

Back 19

•Feature – quality or characteristic of product/service. (example, V-8 engine on a car)
•Benefit – the way in which a feature will help a buyer (example, more power while driving on I-35 and many other benefits, depending on what buyers want.

Front 20

Characteristics of a strong presentation

Back 20

•Communication tools such as visual aids, samples, testimonials, demonstrations, and the use of humor are important ingredients in most sales calls.
•These tools help focus the buyer’s attention, improve the buyer’s understanding, helps remember what the salesperson said, offers concrete proof of the salesperson’s statements, and creates a sense of value.

Front 21

Humor

Back 21

•Don’t oversell or apologize before telling a joke
•Identify any facts that are absolutely necessary for the punch line of the story to make sense
•Enjoy yourself while you’re relating the humor or smiling and animating your voice and nonverbal
•Practice telling the joke different ways to see which exact wording works best
•Make sure your punch line is clear

Front 22

Multiple Sense appeal

Back 22

•Appeal to more than one sense
o Sellers of some products use appeals to all of the senses; others involve 2 to 3
o Ben and Jerry’s example in text

Front 23

Testimonials

Back 23

•Statements, usually letters, written by satisfied users of a product or service
o The effectiveness depends on the skill in which it is used and a careful matching of satisfied user and product
o Before using a testimonial check with the person who wrote it and frequently reaffirm he or she is a happy (satisfied customer)
o Should only be used if they help address the buyer’s needs or concerns
o Use test results to strengthen the presentation

Front 24

Help remember what was said

Back 24

•Profitability occurs when the selling situation was memorable
•Present skillfully in a well-timed demonstration

Front 25

Create a sense of value

Back 25

•The manner in which a product is handled suggest value
o Careful handling – positive
o Careless handling – negative
•The use of communication tools can also make a statement about the importance of the buyer.

Front 26

Improve buyer’s understanding

Back 26

•Salespeople need to utilize all available communication tools to help individuals, who have problems forming clear images, better understand the solution to the problem or the opportunity being presented
o Notice – more senses involved, better retention of message

Front 27

Feel, Felt, Found Method or Referral method

Back 27

•Method of helpfully responding to objections in which the salesperson shows how others held similar views before trying the product or service.
o Example: I can see how you feel, others felt, yet they found

Front 28

DUMB

Back 28

•Don’t Understand My Business

Front 29

Goal of Objections

Back 29

•Build relationships
•Sell value
•When do buyers object – anytime and all the time

Front 30

Objections related to the price

Back 30

•Companies lack the resources for the purchase
•Result of an incomplete or poor job of qualifying

Front 31

The Value Does Not Exceed The Cost

Back 31

•Takes capital away from other necessary company functions
•Value of the product or service doesn’t offset the sacrifice
•Mask hidden reasons for the buyer’s reluctances

Front 32

Common Objections

Back 32

•Some buyers object to make salespeople nervous
•Conditioned salespeople recognize this practice

Front 33

Five Major Types Of Objections

Back 33

1) Objections related to needs
2) Objections related to the product
3) Objections related to the source
4) Objections related to the price
5) Objections related to time

Front 34

Rachel Gober, sales representative with Standard Register, a corporate partner with our professional selling corporate partners’ program

Back 34

Attended National Sales Competition and got the job as a result!

Front 35

Halo Effect

Back 35

How one does in one thing changes a person’s perceptions about other things one does
•Ex: If the salesperson is perceived by the prospect as effective at the beginning of the call, he will be perceived as effective during the rest of the call and vice versa

Front 36

*7 Common Methods for Responding to Objections

Back 36

1.Direct denial (NEVER use it!!!)
a.Salesperson makes a relatively strong statement to indicate error the prospect made
2.Indirect denial
a.Salesperson denies the objection but attempts to soften the response
3.Compensation (Superior benefit) method
a.Agreeing that objection is valid, but then proceeding to show any compensating advantages
4.Referral method
a.Feel-felt-found Method: responding to objections in which the salesperson shows how others held similar views before trying the product or service
b.I can see how you feel, others felt, yet they found
5.Revisit (Boomerang) method
a.Salesperson turns objection into reason for acting now
6.Acknowledge (Pass-Up) method
a.Lets the buyer talk, acknowledge that you heard the concern, and then moving on to another topic without trying to resolve the concern
7.Postpone method
a.Salesperson asks permission to answer the question at a later time

Front 37

Sales Letter

Back 37

•Attention*
o Offset a weakness of the writer
o Highlight a strength of the writer
o Highlight a strength of the company
•Credibility
o Can be established throughout letter (preferably 2nd paragraph)
•Need
o Reiterate what their company needs
•Features/evidence/benefits
o Quality of characteristic of something
o Proof of characteristic
o How the organization can benefit from your skills
•Close
o Indicates what action will be taken

Front 38

Characteristics of a Good Prospect

Back 38

Lead- person or an organization that may or may not have what it takes to be a true prospect
Qualify the lead- determine whether a lead is in fact a prospect
Prospect- when the salesperson determines that the lead it a good candidate for making a sale

Front 39

Prospecting

Back 39

important process of locating potential customers for a product or service