Personal selling

Theories of Selling
‡ AIDAS Theory of Selling
A = Securing attention I = Gaining interest D = Kindling Desire A = Inducing actions S = Building satisfaction

‡ ³Right set of circumstances´ ± Theory of selling ‡ ³Buying formula´ ± Theory of selling
‡ Need (problem) Solution purchase

Continued«
‡ ³Behavioral Equation´ Theory
± Combination of four factors
‡ Internal drives ( Physical), Learned drives (Psychological, Social) ‡ Cues that instigate buyer to respond
± Triggering cues activating purchase decision ± Non triggering cues influence decision process (product cues + information cues)

‡ Response ± What buyer does ‡ Reinforcement ± event that strengthens the buyer¶s tendency to make a particular response

The Personal Selling Process (Steps 1 & 2)

1.
± ±

Prospecting and Qualifying Identify potential customers. Qualifying involves determining whether prospects have the willingness, purchasing power, and authority to buy. Preapproach to Individual Prospects
± ±

2.

Salespeople must learn how buying decisions are made. Salespeople should also try to find out a prospect¶s personal habits and preferences.

The Personal Selling Process (Steps 3 to 5)
3.
± ± ± ±

Presenting the Sales Message: AIDA Attract the prospect¶s Attention. Hold the prospect¶s Interest. Build a Desire for the product. Stimulate the Action of closing the sale. Meet Objections and Close the Sale
±

4.

Objections help clarify customer¶s concerns. Postsale Services

5.
± ±

Deal with cognitive dissonance. Ensure everything happened as it should (delivery).

Prospecting methods and strategies

‡ Centers of influence ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Spotters Observation Advertising Cold calling Internal records Service or assisting personnel Directories or mailing addresses Trade shows / road shows / exhibits Sales representatives

Always be prepared Before the Call
‡ ‡ ‡ ‡ ‡ ‡ Know your product inside out. Be knowledgeable about this industry. Know your competition Know the basics of the customers needs. People in common. Believe in yourself, your company, and product or DON¶T be there.

The pre-call Plan
‡ Always have a written plan
± Hello/smiles, get 2 names, name impression

‡ Always have a list of objectives for you/customer
± Free product trial, competitors terms, secure lunch date

‡ Always have a goal of learning something new about the customer
± Equipment, ancillary products, 2nd tier suppliers ± Their ³go to market strategy´ and unique advantages

‡ Always try to have an actionable item for you and your customer after the call
± Price on equipment, tech specs, trial in plant, customer volume per month

Before intro«
‡ Read the ³sign in sheet´. Always. Consider whether to write your name/company legibly or not. ‡ Extra effort with reception. Always. ‡ Never talk in car parking, elevators, lobby, bathroom, etc. ‡ Review your written plan briefly. ‡ Look very relaxed in the lobby. (even if not)

First few minutes matter«
‡ Nonverbal visual cues
± ± ± ± ± Your dress. Plan it. Look them in the eye and shake firmly. Smile broadly. Show personal enthusiasm in body language. Pace yourself by customer«watch them approach

The opener«
‡ ³I¶m Vikram, How are you?´ ‡ ³Nice looking kids. I¶ve got a few just about that age, pretty darn busy around our place.´ ‡ ³Got your name from Nikumbh«thanks for seeing me. He thought this might make sense for us to get together«´ ‡ It¶s a nice office/ Good campus

Concerns/Objections
‡ Typically a natural part of any call ‡ An opportunity for more dialogue ‡ Helps both parties in buying process.
± ³this is a buying process´

‡ Customer ³indifference´ is the killer not active objections

Handling Objections
‡ ‡ ‡ ‡ ‡ Listen Agree/restate without prejudice Get clear about the real issue Discuss solutions Ask for a commitment

Basic rules to overcome and objection
‡ Never argue - (³ interesting point´ is a better word than ³objection´) ‡ Never Answer too quickly ‡ Don¶t over answer ‡ Don¶t be drawn into a pointless angles ‡ Don¶t guess at any answer

Strategies to deal with Objections
‡ Indirect Denial Method (³Yes , but´ approach) ‡ Boomerang Method (Turning an objection into buying reason) ‡ Counterbalance Method (balancing the disadvantage with some
other advantage of the product)

‡ Denial Method ( Gently denying the objection with some solid facts) ‡ Question Method ( Asking for specific objection) ‡ Failure ± to ±hear Method (deliberately ignoring a prospect¶s
objection if muttered under the breath)

Closing«
‡ Trial closes might uncover more issues/needs
± Is this what you had in mind? ± Would this do the job for you? ± How does this look?

‡ If still no«
± What specifically doesn¶t seem as though it meets your needs?

Look for buying cues«
‡ ‡ ‡ ‡ ‡ ‡ Nonverbal yes¶s Sounds good« Focus on delivery and terms in discussion Timelines Pulling out PO forms Looking up stock/inventory

Closing cues
Lights, Camera, Action ««
‡ Positive statement about the product ‡ Prospect begins handling the product ‡ Prospect plays with the pen and order form ‡ Prospect asks about product price, installation, use etc. ‡ Prospect asks how else is using the product ‡ Prospect¶s voice tone is more positive ‡ Prospects asks for any schemes or incentives for the product ‡ Prospect¶s relaxed and happy expression ‡ You can complete your full presentation ‡ When you successfully answers prospect¶s objections

Close
‡ Alternative close
± Which would you prefer the single case or pallet quantity?

‡ Summary close
± With the 10% gain in factory efficiency and unique new volume price program lets get this on the books. When would you like delivery?

Closing Techniques and Explanations
Options
‡ Choice close ‡ Assumptive close ‡ Stimulus ± response close ‡ Summary close ‡ Standing ± roomonly ‡ Special deal close ‡ Success story close ‡ Closing on resistance

Explanations
‡ Offer alternative products to chose from ‡ Assume the purchase decision is already made and compel the prospect to buy ‡ Ask sequence of leading questions to make it easier for prospect to say µyes¶ ‡ Summarizing advantages and disadvantages before asking for order ‡ Describe the less of opportunity due to product great in demand ‡ Availability of µspecial offer¶ to instigate buying ‡ Narrating the success of solving similar problems with other customers ‡ Asking for order by turning the objection into reason to buy

Continued«
Options
‡ Turnover close ‡ Trial close ‡ Ask-for-the-order ‡ Puppy dog close ‡ No-risk close ‡ Lost sale close

Explanations
‡ Turning the closing over to the other person for fresh approach ‡ Elicit some commitment verbally or non verbally ‡ Simply ask for the order directly or indirectly ‡ Let the prospect take the product to home and use ‡ Agree to take the product back and refund customer's money back in case of dissatisfaction ‡ Apologize for not being able to satisfy the customer and check if any other product can match his requirements

Post Sale
‡ ‡ ‡ ‡ ‡ ‡ Service, service, service. Know your company¶s ability Don¶t ever oversell Call and write. Creative thanks. Visit again soon after product delivery.

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