Effective Selling.ppt

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How to sell effectively across channels

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Effective Selling OYEWOLE O. SARUMI - LMS CONSULTING LAGOS Oyewole O. Sarumi D. Phil

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DEFINITION OF SELLING Selling is the art of persuading the consumer that buying the product or service will benefit him or her. Simply putting it selling is the art of closing the deal. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Defining Sales: Sales is asking people what they do how they do it when they do it where they do it why they do it and who they do it with—and then helping them do it better OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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MARKETING CONCEPT VS SELLING CONCEPT The Marketing concept holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating delivering and communicating customer value to its chosen target market OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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The selling concept holds that customers and businesses if left alone will ordinarily not buy enough of the organization’s products. The organization must therefore undertake an aggressive selling and promotion effort. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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The Personal Selling Process The personal selling process is a consecutive series of activities conducted by the salesperson the lead to a prospect taking the desired action of buying a product or service and finish with a follow- up contact to ensure purchase satisfaction. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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PRINCIPLES OF EFFECTIVE SELLING  Prospecting and Qualifying Pre Approach Approach Presentation and Demonstration Overcoming Objections Closing and Follow up OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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PROSPECTING AND QUALIFYING This is the first step in selling i.e. identifying and qualifying the prospects. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Qualifying a Prospect: A lead is a name on a list. It only becomes a prospect if it is determined that the person or company can benefit from the service or product offered. A qualified prospect: Has a need Can benefit from the product and Has the authority to make the decision. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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How to Generate Leads Examining Data Sources Putting up a booth at trade shows to encourage drop bys Inviting current customers to suggest the names of prospects Contacting the organizations and associations where the prospect belong. Using telephone mail and internet to find leads. Dropping in unannounced on various offices. Cultivating other referral sources such as suppliers dealers non competing sales representatives bankers etc. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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PRE APPROACH The sales person has to learn as much as possible about the prospect company or the buyer The sales person should always set his call objectives To qualify the prospect Gather Information Make an immediate sale Always be prepared Before the call Know your product inside out. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Know your product inside out. Be knowledgeable about this industry. Know your competition Know the basics of the customer’s needs. People in common. Believe in yourself your company and product or DON’T be them. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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This stage involves the collecting of as much relevant information as possible prior to the sales presentation. The pre-approach investigation is carried out on new customers but also on regular customers. Systematic collection of information requires a decision about applicability usefulness and how to organise the information for easy access and effective use. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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PRESENTATION AND DEMONSTRATION The sales person now tells the product “STORY” to the buyer Follow the AIDA Formula Gaining Attention Holding Interest Arousing Desire Obtaining Action OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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The FABV Approach Use FABV Approach to sell… Features Advantages Benefits Value OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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PRESENTATION AND DEMONSTRATION Different Styles of Sales Presentations Canned Approach Formulated Approach Need Satisfaction Approach Problem-Solution Approach OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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HANDLING OBJECTIONS Objections are often indications of interest by the prospect and should not be viewed with misgiving by salespeople. The prospect is in fact requesting additional information to help him to justify a decision to buy. The prospect may not be fully convinced and the issues raised are thus very important. It also assists the salesperson to establish exactly what is on the prospects mind. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OBJECTIONS…cont’d. Customers almost pose objections during the sales pitch or when asked for order. There are 2 kinds of resistance: Psychological Resistance Logical Resistance OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Psychological Resistance This includes resistance to interference preference for established brands reluctance to give up something unpleasant associations created by sales rep predetermined ideas et al…. Logical Resistance It consists of objection to price delivery schedule product features et al… OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OVERCOMING OBJECTIONS To handle objection the sales person has to have a positive approach ask the buyer to clarify the objection question the buyer in a way that the buyer has an answer to his own objection or turns the objection into the reason for buying…. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OBJECTIONS OBJECTIONS - Putting it simply Listen Agree/restate without prejudice Get clear about the real issue Discuss solutions Ask for a commitment OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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CLOSING Look for buying cues… Nonverbal yes’s Sounds good… Focus on delivery and terms in discussion Timelines Pulling out PO forms OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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TYPE OF CLOSING Alternative close Which would you prefer the Refinance or Top Up loan Summary close With the 10 gain in factory efficiency and unique new volume price program let’s get this on the books. When would you like delivery OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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FOLLOW UP The sale does not complete the selling process. Follow-up activities are very important and are useful for the establishment of long-term business relationships. It is important to check if the products have been received in good condition to establish the customer is satisfied etc. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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FOLLOW UP Service service service. Know your company’s ability Don’t ever oversell Call and write. Creative thanks. Visit again soon after product delivery. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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The 13 Golden Principles of Selling Successfully OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 1 ALWAYS SELL TO PEOPLE OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 1: Always Sell to People You are not selling to an organization or to a conglomerate but to actual real people. It is important to remember that all people are different so you cannot sell the same way to everyone. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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No two sales are the same even if they are made to the same company under similar circumstances To become a good salesperson it isnt enough to know how to sell. You must aim to become a people expert. Remember people buy from people -- they always will. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 2 YOU HAVE TO SELL YOURSELF OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 2: You Have To Sell Yourself You must also remember that you are not only selling and representing a product or service but you are in effect selling yourself. Be interesting. If potential customers are bored by you they have less of a chance of being enthralled by any product or service you are representing. Develop intellect. Of course you are an intelligent person but can you converse in an intelligent manner Can you discuss related subjects with thoughtfulness and hold your clients interest OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 2: You Have T o Sell Yourself Cont’d Never be arrogant -- never talk up or down to your potential clients. Its rude and will serve only to alienate them. Respect the buyer and they will respect you. Develop your empathy levels. If you can relate to your customers situations authentically it helps to build rapport. Finally control your ego levels. A good salesperson is patient and respectful not an egomaniac. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 3 YOU MUST ASK QUESTIONS OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 3: You Must Ask Questions A good salesperson knows what questions to ask and when. Develop your questioning techniques always remembering the traditional rules of questioning: What Where When Which Why Who And how Continually test your understanding of the situation by asking questions and verifying that everybodys on the right track. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Type of Questions to Ask 1. Open-ended 2. Close ended Use open questions questions that cannot be answered ‘Yes’ or ‘No’ when investigating potential customers’ needs. Open-ended Questions is the best. Why It uncover hidden needs. For example: ◦ ‘What garden accessories do you currently sell’ ◦ ‘Why do you buy them from Germany’ ◦ ‘What are you looking for when you buy this type of shelving’ OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 4 LISTEN TO UNDERSTAND OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 4: Listen To Understand Remember God has given us two ears and one mouth we should use them in that order Successful sales professionals talk for 20 percent of the time and listen for 80 percent of the time. Its crucial for new salespeople to develop their active-listening skills. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 5 FEATURES MUST BE LINKED TO BENEFITS OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 5: Features Must Be Linked to Benefits Features are the intrinsic qualities possessed by a product or service while benefits are what the customer stands to gain from such features. Features are common but benefits are personal and specific. When describing the product or service you are selling use "link phrases" e.g. when outlining the benefits of the features you are showing. Say "Such and such is a feature of this service which means that . . .  Remember to be specific. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 6 SELL THE RESULTS -- PAINT A PICTURE OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 6: Sell the Results -- Paint a Picture Discover your prospects "prime desires" and personalize the benefits to him or her. Describe the end results of the transaction and how it will improve the life of your prospect. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 7 YOU CANNOT RELY ON LOGIC OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 7: You Cannot Rely On Logic Emotion drives 84 percent of all buying decisions not logic. What are the chief buying emotions They include ◦ ego ◦ security ◦ pride of ownership ◦ greed ◦ health ◦ prestige ◦ status ◦ ambition and ◦ fear of loss. Be well aware of these emotions as you approach engage and deal with your customers. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 8 SELECTIVE PRODUCT KNOWLEDGE IS THE KEY OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 8: Selective Product Knowledge Is the Key A good salesperson realizes that buyers buy solutions and results they do not buy products or services. Know the specific aspects of your product or service that will create your clients desired result. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 9 AIM TO BE UNIQUE OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 9: Aim To Be Unique You want to convey to your customers an attitude of "me first" rather than "me too." Every business every company every product has something that is unique and this is what you need to stress. Identify the uniqueness of your product your service your company -- and yourself. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 10 DONT SELL ON PRICE OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 10: Dont Sell on Price You must value your expertise your products and your services and price accordingly. Always keep the bottom line firmly in your mind. Remember anyone can give business away. Selling merely on price means we do not need sales people OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 11 PRESENT YOUR SOLUTIONS OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 11: Present Your Solutions When we present our proposals rather than mailing faxing or e-mailing we increase the likelihood of a sale by a factor of 10 if we do so in person. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 12 BE PROFESSIONAL AT ALL TIMES OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 12: Be Professional at All Times The greatest compliment a customer can pay you is to describe you as "professional." Dont worry about being liked -- be respected. Being professional is not one thing it is three: ◦ It is what you do ◦ what you say and ◦ how you present yourself. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 13 MAKE THE CUSTOMER THE HERO OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Principle 13: Making the Customer the Hero Every story has a hero. Who is the hero of your story Is it your company and/or solution If the answer is yes then you need to rework your story – and make the customer the hero. The customer is the one who needs to save the day not you. Your role is that of the mentor. You are there to help your customers see what has changed in their world and how they can adapt and better survive and thrive. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS What is the difference between Marketing and Sales Lets think about this question for a moment.

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OYEWOLE O. SARUMI - LMS CONSULTING LAGOS Without marketing you would not have prospects or leads to follow up with but yet without a good sales technique and strategy your closing rate may depress you.

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Marketing is everything that you do to reach and persuade prospects. The sales process is everything that you do to close the sale and get a signed agreement or contract. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Marketing Your marketing will consist of the measures you use to reach and persuade your prospects that you are the company for them. Its the message that prepares the prospect for the sales. It consists of advertising public relations brand marketing virtual marketing and direct mail. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Sales The sales process consists of interpersonal interaction. It is often done by a one-on-one meeting cold calls and networking. Its anything that engages you with the prospect or customer on a personal level rather than at a distance. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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The Balance It takes multiple contacts using both sales and marketing to move the prospect from one level to the next. That is why it is important that you develop a process that combines both sales and marketing. This will enable you to reach prospects at all three levels cold warm and hot. Its all about balance. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Effective usage of Sales and Marketing strategies help Sales person in using the CONNECTION STRATEGY well. Connection Strategy involves effective networking. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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Before Connecting- Ask YOURSELF: Why am I making this connection How am I going to make this connection Why would this person want to connect with me How am I going to keep this connection once I have made it OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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“All things being equal People want to do business with their friends ” “ALL THINGS BEING NOT QUITE SO EQUAL PEOPLE STILL WANT TO DO BUSINESS WITH THEIR FRIENDS ”

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IMPORTANCE OF TOUCH NAME … In selling you can touch a person in the public zone without offending… You will be perceived as friendlier and credible when you touch a person for emphasis. While giving sales presentation touch on the elbow with fingertips to guide him or her Public ZoneZone between palm and elbow Train Yourself to remember people’s Name.

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Getting the Order When the prospect hits the "warm" level its much easier for the sales professional to close the sale. OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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THANK YOU VERY MUCH OYEWOLE O. SARUMI - LMS CONSULTING LAGOS

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