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Sales Training: Always Be Closing
The document discusses various sales presentation methods and strategies for overcoming objections in the sales process. It describes memorized, formula, and need-satisfaction presentation styles, as well as the problem-solution approach for complex sales. Key elements of effective presentations are outlined, including features/advantages/benefits, proof statements, visual aids, participation, and handling objections and interruptions. Common objections like price, budget, and product comparisons are addressed.
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Sales Training: Always Be Closing
- 1. THE STRATEGIC SELLINGPROCESS Carlos F. Camargo Arête Management Consulting [email_address]
- 2. SALES PROCESS SalespersonAttributes Customer-Oriented Honest Dependable Competent Likable Selling Strategy Sales Territory Each Customer Each Sales Call Initiating Relationships Prospecting Precall Planning The Approach Developing Relationships Sales Presentations Handling Objections Closing the Sale Enhancing Customer Relationships Following up the Sale
- 3. SALES PRESENTATION METHODSCarlos F. Camargo Arête Management Consulting [email_address]
- 4. TYPES OF SELLINGSITUATIONS Salesperson to buyer salesperson discusses issues with a prospect in person or over the phone Salesperson to buyer group salesperson discusses issues with the members of a buying team in person or over the phone Sales team to buyer group Conference selling salesperson brings company resource people to discuss a major problem or opportunity Seminar selling company team conducts educational seminar for the customer company about state-of-the-art developments
- 5. THE MEMORIZED SALESPRESENTATION Based on 2 assumptions: prospect’s needs can be stimulated by direct exposure to the product needs have already been stimulated Salesperson’s role: Develop initial stimulus into an affirmative response Develop affirmative response into an eventual purchase request
- 6. THE MEMORIZED SALESPRESENTATION Salesperson does 80 - 90% of the talking Prospect only responds to predetermined questions Same canned sales talk to all prospects hence, no determination of prospect’s needs during the interview Hope that a convincing presentation will convince the prospect to buy
- 7. THE MEMORIZED SALESPRESENTATION ADVANTAGES Ensures that salesperson will give a well-planned presentation Ensures that the same information is discussed by all the company’s salespeople Both aids and lends confidence to inexperienced salespeople Effective when selling time is short (door-to-door) Effective with non-technical products
- 8. THE MEMORIZED SALESPRESENTATION DISADVANTAGES Presents features, advantages, & benefits that are not important to the buyer Allows for little prospect participation Impractical when selling technical products that require prospect input and discussion May be interpreted by the prospect as high pressure selling Salesperson may miss the prospect’s “buying signals”
- 9. THE FORMULA PRESENTATIONSimilar to the memorized method Based on the assumption that: Similar prospects in Similar situations can be approached with Similar presentations Salesperson must first know something about the prospect Salesperson follows a less structured, general outline that allows more flexibility and less direction
- 10. THE FORMULA PRESENTATIONSalesperson generally controls the conversation during the sales talk, especially at the beginning Straight rebuy, or modified rebuy situations (as well as convenience goods and shopping goods) lend themselves to this method Customers are already familiar with the company
- 11. THE FORMULA PRESENTATIONADVANTAGES Works well with customers who currently buy Works well with prospects about whom the salesperson knows a great deal Ensures that all information is presented logically Allows for some buyer-seller interaction Allows for smooth handling of anticipated question and/or objections
- 12. THE NEED-SATISFACTION PRESENTATIONFlexible and interactive sales presentation Most challenging & creative form of selling Opens with a discussion of prospect’s needs (50 to 60% of the conversation time) “ what are you looking for in investment property?” Can clarify buyer statement easily Final stage of the conversation is devoted to showing the prospect how the product satisfies his/her needs
- 13. THE NEED-SATISFACTION PRESENTATION:KEY THINGS TO REMEMBER Be cautious when uncovering the prospect’s needs Too many questions may alienate your prospect Many prospects do not want to initially “open up” You are not a performer on a stage -- but a needs-fulfiller.
- 14. THE PROBLEM-SOLUTION PRESENTATIONUsed in selling highly complex or technical products insurance, industrial equipment, computers, etc Normally requires multiple sales calls to develop a detailed analysis of the prospect’s needs Problem solution is based on this needs analysis
- 15. THE PROBLEM-SOLUTION PRESENTATION:STEPS Convince your prospect to allow you to conduct the needs analysis Make the actual analysis Agree to problems and determine that the buyer wants to solve them Prepare a proposal for a solution Prepare a presentation based on the analysis & proposal Make the sales presentation
- 16. GROUP SALES PRESENTATIONSIn general, the larger to group to whom you are presenting, the more structured your presentation Give a proper introduction Establish credibility Provide an account list State your competitive advantages Give quality assurances & qualifications Cater to the group’s behavioral style
- 17. ELEMENTS OF GREATSALES PRESENTATIONS
- 18. 3 ESSENTIAL STEPSWITHIN THE PRESENTATION FAB Features, Advantages, Benefits Marketing Plan Business Proposition
- 19. THE SALES PRESENTATIONMIX Salesperson Persuasive Communication Participation Proof Visual Aids Dramatization Demonstration
- 20. 7 STEPS TOHELP YOU BE A BETTER COMMUNICATOR Use questions Be emphatic Keep your message simple Create mutual trust LISTEN Have a positive attitude Be believable
- 21. PERSUASION THROUGH LOGICStandard Logical Reasoning Major Premise Minor Premise Conclusion Logic That Really Works Benefit Argument Conclusion
- 22. PERSUASION THROUGH SUGGESTIONSuggestive Propositions imply that the prospect should act now “ shouldn’t you buy now before the price increases ?” Prestige Suggestions ask prospect to visualize using products that people/companies they trust use “ Coach Crowe ( JSU’s football coach) uses these golf clubs. ”
- 23. PERSUASION THROUGH SUGGESTIONAutosuggestion have prospects imagine themselves using the product “ just imagine how much more efficient your store will operate with this equipment. ” Direct Suggestion suggest that the buyer purchase “ I would suggest that you purchase 10 cases of this product. ”
- 24. PERSUASION THROUGH SUGGESTIONIndirect Suggestion makes it seem as if it was the prospect’s idea “ So, are you saying you want to purchase 50 or 75 cases?” Counter Suggestion evokes an opposite response from the prospect “ Do you really want such a high-quality product?”
- 25. INDUCING PARTICIPATION QuestionsProduct Use -- Appeal to their senses Visuals Demonstrations
- 26. PROOF STATEMENTS PastSales Help Predict the Future The Guarantee Testimonials Company Proof Results Independent Research Results
- 27. THE VISUAL PRESENTATION:SHOW AND TELL Use them to: increase retention reinforce your message reduce misunderstandings create a unique and lasting impression show the buyer you are a professional
- 28. COMMON VISUAL AIDSThe product Charts & graphs Photographs & videos Models or mock-ups Equipment Sales manuals Catalogs Order forms Letters of testimony Copy of guarantee Flip-boards Sample advertisements
- 29. DRAMATIZATION A theatricalpresentation of the product Only use if you are ABSOLUTELY sure it will work & be effective Watch TV commercials for ideas Heinz tomato ketchup “we challenged the competition and they ran!”
- 30. DEMONSTRATIONS People receive87% of their information through their eyes Only 13% with the other four senses Make sure you’ve planned & organized Plan for the unexpected
- 31. HANDLING INTERRUPTIONS Waitquietly & patiently until you’ve regained the prospect’s complete attention Briefly restate the selling points that had interested the prospect Do something to increase the prospect’s participation If interest is regained, move deeper into the presentation
- 32.
- 33. BASIC POINTS INMEETING OBJECTIONS Plan, Plan, Plan Why should/should not the prospect buy? Major & minor objections Anticipate & Forestall Discuss it before they do
- 34. BASIC POINTS INMEETING OBJECTIONS Meet objections as they arise May stop listening May feel you’re trying to hide something May feel you also believe it’s a problem Be Positive Positive body language Don’t take it personally
- 35. BASIC POINTS INMEETING OBJECTIONS Listen -- Hear them out Don’t panic Can cause irritation, unease, & pushy Understand the objection Request for information Condition of the sale Hopeless objection Major vs. minor objections
- 36. MAJOR/MINOR OBJECTIONS Practicalobjections (overt) practical; easier to overcome Psychological (hidden) attitudes & perceptions cannot close the sale until these are discovered and eliminated
- 37. STALLING OBJECTIONS Ihave to think this over I understand; could you tell me your reasons for & against buying now? I’m too busy I appreciate how busy you are. I’m too busy; talk to _____ first I plan to wait until next fall Why?
- 38. NO-NEED OBJECTIONS I’mnot interested. Now or forever? Why? The _____ we have is still good Compared to ____? We are satisfied with what we have now. What do you like most about what you have now?
- 39. MONEY OBJECTIONS Yourprice is too high How high is too high? If cheaper, would you buy? I can’t afford it If I can arrange it so you could afford it, would you buy now? Give me a 10 percent discount and I’ll give you an order today You’ve got to do better than that
- 40. PRODUCT OBJECTIONS Yourcompetitor’s product is better I’m interested in your unbiased opinion The machine we have is still good Great! That gives you a higher trade-in value I’ll buy a used one stress the risk
- 41. OBJECTION MEETING TECHNIQUESDodge neither denies, answers nor ignores “ Price is too high.” “ Before you decide to buy, …” Pass up avoid an objection that requires that you not address it “ I’m not interested in a service such as yours” “ Why?”
- 42. OBJECTION MEETING TECHNIQUESRephrase as a question easier to answer a question than an objection “ Your price is higher than your competitors’.” “ You want to know what particular benefits my product offers that make it worth its slightly higher price; is that correct?”
- 43. OBJECTION MEETING TECHNIQUESPostpone the objection until later prospect asks questions you will address later in the presentation “ Your price is too high.” “ In just a moment, I’ll show you why this product is reasonably priced, based on additional savings …..”
- 44. OBJECTION MEETING TECHNIQUESBoomerang turning the objection into a reason to buy “ The tops seem hard to remove.” “ Yes, they are hard to remove. We designed them so that children couldn’t get into the medicine. Isn’t that a nice safety feature?” Ask intelligent questions
- 45. OBJECTION MEETING TECHNIQUESDirect Denial objection is simply incorrect Indirect Denial yes, but ….. Let a 3rd party answer
- 46.
- 47. ESSENTIALS OF CLOSINGTHE SALE Be sure your prospect understands what you say Tailor your close to each prospect Do and say everything from the prospect’s point of view Never stop at the first “no” 3 to 5 “closes” closing under fire -- literally
- 48. ESSENTIALS OF CLOSINGTHE SALE Recognize buying signals Prospect asks questions Prospect asks another person’s opinion Prospect relaxes and becomes friendly Prospect pulls out a purchase order form Prospect carefully examines the merchandise
- 49. ESSENTIALS OF CLOSINGTHE SALE Ask for the order --- and SHUT UP Set high goals for yourself Develop and maintain a positive, confident, and enthusiastic attitude toward yourself your product your prospect your close
- 50. CLOSING TECHNIQUES Alternative-choiceclose Assumptive close Compliment close Summary-of-benefits close Continuous Yes close
- 51. CLOSING TECHNIQUES Minor-pointsclose T-account close (pros & cons) SRO close Negotiation close
- 52. SIX COMMON MISTAKESTells instead of sells; doesn’t ask enough questions Over-controls the call; asks too many closed-end questions Doesn’t respond to customer needs with benefits Doesn’t recognize needs; gives benefits prematurely Doesn’t recognize or handle negative attitudes effectively Makes weak closing statements; doesn’t recognize when or how to close Ask for the Sale!!! Ask for the Sale!!! Ask for the Sale!!! Ask for the Sale!!!