Ch. 8, 9, 10, & 11

Essential Elements of the Sales Call

(What comes before; 1. Getting the appointment 2. Research (firm, industry, etc) 1. Making a good impression 2. Identifying or reiterating needs (Adjusting; assessing the buyer's reactions & making adjustments) 3. Offering the solution to the buyer's needs 4. Credibility and trust

Four A's selling process

-Acknowledge; the buyer by welcoming them -Acquire; information by needs analysis -Advise; seller narrows the choices, sell benefits -Assure; enhance the buying decision/follow up

Identifying the Prospect's Needs: The Power of Asking (Good)

-After capturing the buyer's attention, it is time to identify the buyer's needs -Use transition sentences -Don't be surprised if the buyer is reluctant to provide sensitive or confidential information -Discovering needs is part of qualifying the prospect -This process can be uncomfortable for the prospect

Reminder: Adjusting Social Styles; If you think the prospect's personality style is high on this dimension, then:

-Assertiveness =Reduce; ask for customers opinion, acknowledge merits of customers viewpoint, listen wo interruption, be more deliberate don't rush, let customer direct flow of conversation -Responsiveness =Reduce; become businesslike, talk less, restrain enthusiasm. make decision based on facts, stop and think =Increase for both; get to the point, don't be vague or ambiguous, volunteer information, be willing to disagree, take a stand, initiate conversation, take a stand, verbalize feelings, express enthusiasm, pay personal compliments, spend time on relationships rather than business, socialize engage in small talk, use nonverbal communications

Reiterating needs you identified before the meeting helps because:

-Both parties can agree about the problem they are trying to solve -Saves time in that you don't have to ask about those things again -Also, helps develop a strategy for the presentation

Building Credibility During the Call

-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 (pros and cons) -Recognize subcultural differences -Demonstrate product expertise -Use well-conceived, insightful questions or comments -Be willing to say, "I'm sorry, I was wrong about that," or "I don't know the answer to that, but I'll get back to you by (specific date)." -Never use a word unless you know the exact definition

Biggest challenges with the Gap Model

-Customers rarely acknowledge their problems -Gap is worse than what the customer acknowledges -Customer doesn't realize that a better situation exists -Sometimes it takes perspectives from many different members of the buying organization to get the "whole picture".

Making a Good Impression (continued) 2

-Developing rapport =Should be the goal of every salesperson =Small talk =Office scanning =Consider cultural and personality differences -When things go wrong =Maintain the proper perspective and a sense of humor =Apologize -Rapport in selling is a close, harmonious relationship founded on mutual trust.

Relating ("translating") features to benefits:

-Feature: quality or characteristic of the product or service -Benefit: the way in which a specific feature will help (i.e., benefit) a particular buyer -FEBA (feature, evidence, benefit, agreement)

Probing method

-Initially uses another method -Uses a series of probing questions -Consider cultural differences -Go back to SPIN -"There must be some reason that you are hesitant to move forward today; may I ask what it is that is holding you back?

Characteristics of a Strong Presentation

-Keeps the buyer's attention -Improves the buyer's understanding -Helps the buyer remember what was said -Offers proof of the salesperson's assertions -Creates a sense of value

Balance sheet method

-List pros and cons of your solution / product / service... -"Mr. Buyer, let's take a few minutes to list out and summarize the reasons this purchase makes sense for you, and also list any remaining questions or concerns you may have. This will help us make the right decision

Asking "open" and "closed" questions

-Open questions require the prospect to go beyond a simple yes-or-no response -What is the purpose of asking closed questions?

Effective Response Methods:Question Method

-Question Method •Turn the customer's concern into a question and refocus on one or more strengths of your value proposition •Gets the customer thinking in a new way and contrasts his/her concern against an advantage •Objections when Selling to a Group of buyers -Seller should rephrase the question and try to get a sense of whether other buyers share the concern -Throw the concern back to the group -Any response should be directed to all buyers, not just the one who asked the question -Make sure that all buyers are satisfied with the answer -If the objection-raiser pushes back too much and is de-railing your presentation, ask respectfully if it would be ok to "take the concern off-line" with them

Benefit summary

-Reminds the buyer of the agreed-on benefits of your solution / proposal (i.e., remember the "Gap Model") -"Ms. Buyer, we've agreed that our product will substantially upgrade your technical capabilities, allow you to attract new business, and all the while save you money, isn't that right? Let's go ahead and place the order today. I will have my service technician out to train your staff next week.

The Role of Knowledge

-Salespeople learn the cues for identifying the four customer categories or types. -Salespeople learn which adjustments they need to make in their communication style to be effective with each customer type.

Making a Good Impression (continued)

-Selecting a seat =Be aware of your surroundings =Read the prospect's nonverbal cues =Wait to sit until invited to do so -Getting the customer's attention =Prospects use the first few minutes to determine if they will benefit from the interaction =Salespeople have less than six minutes to get credibility with the client

The content of an actual sales call depends on

-The specific situation -The extent of the established relationship -Where in the "sales cycle" are you with this customer or prospect?

Other Methods for Closing

-There are other methods which are variations on those just reviewed here -Many of these other methods tend to be ineffective with sophisticated customers (e.g., B2B situations) -Ultimately, the buyer must trust the salesperson, the company, and the product - or the sale does not occur

Assessing reactions

-Using nonverbal cues -Verbal probing •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 -Making adjustments •Changing direction (how to do this?) •Collecting additional information •Developing a new sales strategy •Altering the style of presentation

Making a Good Impression

-Waiting for the prospect =Be on time for your meeting or call, which requires excellent planning =Make good use of your waiting time =15 minute rule =When to reschedule -First Impressions Critical! =Making a favorable first impression usually results in a prospect who is willing to listen =How you dress =Professional greeting =Customer's name

How we learn and remember

-We retain 20% of what we hear -We retain 50% of what we see and hear -Sight 82% -Smell 4% -Taste 1% -Touch 2% -Hearing 11%

Direct request

-You simply ask for the business / order, when you think the timing in the sales cycle is right -"It sounds to me as though you are really impressed by what we have to offer. Let's get your first order into the system." -"If there are no more questions I can answer, I would sure like us to do business today. Shall we proceed?"

Alternative choice

-gives the buyer multiple viable options -"Which works best for your application, the Dynamo XL or the Dynamo ZR1?" -"Would you like this delivered tomorrow, or would Monday be better?" -"Do you want it with or without the service agreement?

Discovering the Root Cause of the Need

-need behind the need; our competition is gaining on us and we need to be more responsive than they are (more strategic root cause of the need, buyer ends here), then we need to improve our sales perfromance -Lastly the need; we need to equip our sales force with laptop computers (initial need expressed buyer starts here)

summary ch. 11

1. Commitment cannot be obtained by some magical or miraculous technique if the salesperson has failed to prepare the prospect to make a decision throughout the presentation. 2. Commitments should result in a win-win situation for all parties. 3. Pricing is an important element of any sale and is usually presented at the time of closing. 4. There is no one "right" time to obtain commitment.

Specific Commitment Methods:CLOSING !

1. Direct request-Simply ask for the business 2. Benefit summary-Reminds the buyer of the agreed-on benefits of the proposal 3. Balance sheet method)-They list BOTH pros (i.e., benefits) and cons•Pros list must significantly outweigh the cons...Why? 4. Probing method-Initially tried another method (and failed)-Now uses a series of probing questions, which leads to a 2nd attempt at closing 5. Alternative Choice - "Which is the Best option?

Referral opening; tell about someone who referred you to the buyer

Always get permission; do not stretch the truth

Benefit opening; start by telling some benefit of the product

Get down to business right away

Compliment opening; start by complimenting the buyer or the buyers firm

Must be sincere not just flattery

Introduction opening; simply introduce yourself

Simple but may not generate interest

Question opening; start the conversation with a question

Start two-way communication

the gap model of selling

These obstacles & problems, or what we call "the Gap", are very often called the prospect or customer's "PAIN" points -Gab in middle of street, ideal situation on the left, current situation on the right, obstacles and problems ahead

Product opening; demonstrate a product feature and benefit as soon as you walk up to the prospect

Uses visual and not just verbal opening can create excitement

The Basics of Negotiation

• Before you begin, be clear about what you want and why you want it • Stay calm and focused on key issues • Do not lose sight of what is important • Avoid resurrecting dead issues • Know when to walk away

Three types of Salespeople

•Aggressive; they like control, but often fail to probe for better understanding •Submissive; They often fail to get commitments •Assertive; Tend to be confident, strategic and very positive in presenting as discussions / not lecture-They look for the "right buyers"

Negotiation Objectives (continued)

•Anticipate and evaluate positions •Create a plan to achieve objectives -Develop alternative paths / "outcomes" •Brainstorming sessions; Meeting in which people are allowed to creatively explore various methods of achieving goals •Consider cultural differences

Behaviors of Successful Salespeople

•Anticipate objections -Prepare helpful responses •Forestall known concerns-Raise and handle objections before buyers have a chance to raise them -Very important inwritten proposals -Forestall; Prevent by doing something ahead of time

If Commitment is Obtained

•Avoid surprises Buyers hate them... -Go over all important information •Confirm the customer's choice -Assure customers they have made an intelligent choice (now is when they need to hear this!) •Get the Commitment / Signature! -Make the actual signing an easy, routine procedure ("all we need is to fill out a little paperwork...") -Fill out the order / purchase accurately and promptly -Be careful not to exhibit any excess eagerness or excitement at signing time •Show appreciation -Thank-you letter or email -Small gift -something with company logo -Genuine but not effusive •Cultivate for future calls -How the salesperson treats the customer is the biggest determinant of future sales •Review the actions to be taken -Avoid misunderstandings, set the plan moving forward AFTER the sale (post-sale agenda) -Be sure the buyer gets what they were promised

The Nature of Negotiation

•Bargaining process through which buyers and sellers resolve areas of conflict and arrive at an agreement •What can be negotiated? •Win-lose negotiating; the negotiator attempts to win all the important concessions and thus triumph over the opponent •Win-win negotiating; the negotiator attempts to secure an agreement that satisfies both parties

Product Demonstrations

•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 needs. •Make the demonstration an integral part of the overall presentation. •Keep the demonstration simple, concise, and clear. •Plan what you will do during any dead time. •Find out whether the prospect has already seen a competitor's product demonstration. •Find out whether anyone present has used your product before. •Probe during and after the demonstration.

summary ch. 12

•Be sure to get any negotiated agreements in writing•Do post-negotiation evaluation (with team member) and learn from your mistakes •More cooperation exists if both sides expect future interactions-Your goal is to develop a long-term partnership with your buyer•Don't be greedy or pushy (think about future sales / a business partnership •Almost anything can be negotiated.•A successful salesperson is not necessarily a good negotiator.•Careful planning counts.•Preliminaries are important in sales negotiation sessions.•Concessions will occur in every negotiation.•Practice / role play before the meeting

When to Attempt to Obtain Commitment

•Buyer comments -Buyer questions to you -(formal) Requirements -(buyer reactions to) Benefit statements -(buyer reactions to) to Trial Closes •Nonverbal cues -Facial expressions -Actions •Requirements are conditions that have to be met before a purchase can take place.a.k.a.- Specs

Obtaining Commitment Today

•Buyers want to buy, they do not want to be sold. What does that mean? •Over-reliance on closing techniques may actually reduce the chance of making a sale. •No commitment = No Sale. •Relationship commitment vs. single sale. •This all sounds good but what is "commitment"?•Commitment = getting the customer to do something that moves the relationship closer to a sale •Part of the process -Salespeople actually gain commitment repeatedly -Important in moving the account through the relationship process -Use of 'Trial Closes' - questions which assess the prospect's readiness to buy •The importance of securing commitment -Tells the salesperson what to do next -Defines the status of the client -Time to make a sale (i.e., wraps things up) -(Time for) Customer realization of benefits -(Time for) Company good will and profit

Information Control

•Buying teams also prepare •Buyers gather information to gain position -Selling team leaders need to emphasize the need for security -Many team members do not need all the facts •It pays to control the flow of information

Effective Response Methods:Buyer Raises a Valid Concern or Opinion

•Compensation method -Buyers may object because the salesperson's product is less than perfect -The salesperson should acknowledge the validity of the objection and then proceed to show any compensating advantages -Also use when the prospect tries to delay closing the sale •Referral method -"Feel-felt-found" method

Conflict - Individual Behavior Patterns

•Competing; Pursuing own goals, creates a "Win - Lose" •Compromising; Slow to a solution, targets a "Win - Win" •Collaboration; Best option is for each team to have one, targets a true "Win - Win", maximizing satisfaction for both parties •Avoiding; Refuse to address conflict •Accommodating; Non-competing, too cooperative, customer must get a "Win" and generous to a fault

What to Do When the Buyer Turnsto "Win-Lose" Strategies

•Detach yourself •Acknowledge their position and then respond •Build them a bridge •Warn, but don't threaten •Discuss your limitations IF... necessary

Effective Response Methods:For Non-Factually Correct Comments

•Direct denial -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 •Indirect denial -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

Handouts

•Don't forget the goal of your meeting. •Make sure the handouts look professional. •Don't cram too much information on a page. •Don't drown your prospect in information. •Handouts are written documents provided to help buyers remember what was said

Selling to Groups

•Groups behave like groups, with group standards and norms and issues of status and group leadership. •Salespeople should discover (for each prospect group member): -Member status within the group -Authority -Perceptions about the urgency of the problem -Receptivity to ideas -Knowledge of the subject matter -Attitude toward the salesperson (and company) -Major areas of interest and concern -Key benefits sought -Likely resistance and ways to handle it -Salespeople should also discover the ego involvement and issue involvement of each group member -Develop objectives and plan -Learn the names of group members and use them when appropriate -Listen carefully and observe all nonverbal cues

Dealing With the Jitters

•Know your audience well. •Know what subject matter. •Prepare professional, helpful visuals. •Be yourself. •Be well rested. •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. •Stay positive. •Realize that everyone gets nervous before a presentation at times. •Practice, practice, practice

LAARC Method of Objection Handling

•Listen; Take the time to make sure you really hear what the customer is saying. Paraphrase back to clarify. •Acknowledge; Show the customer that you understand why they would have that concern. •Assess; The validity of the objection. •Respond; Rebut the customers objection in a way that puts their concerns at ease and shows that you are trying to create value for them. •Confirm; That the objection has been answered

Planning For the Negotiation Session

•Location -Neutral site -Middle of the work week -Mornings •Time allotment depends on: -Negotiation objectives -Desire of a "Win-Win" session from both parties

How to Successfully Obtain Commitment

•Maintain a positive attitude •Let the customer set the pace •Be assertive, Not aggressive •Sell the right item in the right amounts (at the right point of the 'sales cycle') •"So does this solution look like a good fit for your needs we've discussed?" •"So if you're ready to get started and take the next step, all we need to do is..."

summary ch. 8

•Make every possible effort to create a good impression during a sales call. •Use any of several methods to gain the prospect's attention. •Establish the prospect's needs before beginning any discussion of product information. •Translate features into benefits for the buyer. •Make any necessary adjustments in the presentation based on buyer feedback. •Build credibility. •When selling to groups, the salesperson should: -Gather information about the needs and concerns of each individual who will attend -Uncover the ego involvement and issue involvement of each group member -Develop meeting objectives and individual prospect objectives

Visual Tools (continued)

•Models, samples and gifts -Keeps buyer interest -Cross-sectional models •Catalogs and brochures -Help to effectively communicate information •Photos, illustrations, ads, and maps •All of these are what we'd call "sales evidence" •Testimonials and Test Results -The testimonial used should carefully match satisfied user and prospect -The person who writes the testimonial should be above reproach •Frequently affirm this person is still a satisfied customer -Test results from third-party organizations have more clout (examples?) -Testimonials are statements written by satisfied users of a product or service. •Using media to display visuals -Portfolio -Video -Computers -Digital collateral management systems -Document cameras (visual presenters) -Whiteboards

Bringing the Interview to a Close

•Most sales take several calls to complete (depends on the industry) •Leave with a clear plan for all parties -Review what you will do next -What the customer will do next -When you will meet again •Follow-up promptly with a thank-you and reminder note (even on lost sales)

Making Concessions

•Never make concessions until you know all of the buyer's demands and opening position. •Never make a concession unless you get one in return. •Concessions should gradually decrease in size - agree on the big things first •Don't be afraid to say "no", or "we can't do that, but what we can do is..." •All concessions are tentative until the final agreement is reached and signed •Be confident and secure in your position and don't give concessions carelessly. •Don't accept the buyer's first attempt at a concession. •Help the buyer to see the value of any concessions you agree to. •Start the negotiation without preconceived notions •If you realize you have made a mistake, tell the buyer and begin negotiating that issue again •Never agree to a "let's just split the difference" offer. •Remain noncommittal when the customer asks for a bottom-line price •Know when to stop. •Use silence effectively. •Plan the session well. •Be familiar with your company's policies regarding what negotiating room you have

The Goal is to Build Relationships and Sell Value

•Objections are a gift! -Answer sincerely -Refrain from arguing or contradicting -Welcome •Salespeople must assume the attitude of counselor and "trusted advisor" and act accordingly •Objections present sales opportunities •Arguing and contradicting will not build relationships •Maintaining a positive attitude toward objections goes a long way toward building trusting relationships

Common objections

•Objections related to Needs -"I do not need the product or service" -"I've never done it that way before" •Objections related to the Product -"I don't like the product or service features" -"I don't understand" -"I need more information"

Common Objections (continued)

•Objections related to the Source -"I don't like your company" -"I won't buy from you" •Objections related to the Price -"I have no budget to spend on this" -"I am sure your price will be too high" -"Your company is always too expensive" -"Your product isn't worth the price you charge" •Objections related to Time -"I'm just not interested today" -"I need time to think about it" •Other Objections -"We have no room for your product line" -"There is no demand for your product" -"Sorry, but I just don't do business with 'people' like you" -"I've heard complaints from my friends who use your product." -"I prefer to do business with American firms" -"It's a lot of hassle in paperwork and time to switch suppliers."

Effective Response Methods:Buyer Raises a Valid Concern or Opinion 2

•Postpone method -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 •Using the methods -Salespeople often combine methods -Sometimes several methods can be used in one answer (or 'objection episode')

Negotiation Objectives

•Power •Concessions •"Target" position •"Minimum" position •"Opening" position -Should reflect higher expectations than the target position -Must be able to support with solid information •Identify & prioritize issues that could arise -Negotiation hierarchy; opening, target, and minimum

The Negotiation Meeting

•Preliminaries-Break the ice (keep the Customer focused on the end-game, 'the prize') -Ensure a comfortable environment -Establish a "win-win" environment -Prepare an agenda •General guidelines -Listen carefully -Keep track of issues discussed or resolved -Consider cultural differences -Remember people need to save face •Dealing with win-lose negotiators -"Good cop / Bad cop" routine -Lowballing -Emotional outbursts -Budget limitation tactic -Browbeating -Stand-offs and "walking out" / ceasing negotiations

Financial Terms and Conditions

•Presenting price -Usually discussed at the end...Right? -Price is carefully set after studying: •The value delivered by the product or service •The competitor's offerings •The (total) cost of providing the product or service -Present your price with confidence! -Price cannot be the focus of the presentation... Why?* Focus on the "Bruise", the solution and the VALUE being offered

Selling to Resellers

•Profit margin -The net profit the reseller makes, expressed as a percentage of sales •Inventory management systems -Efficient consumer response -Quick response-Automatic replenishment -Just in time -Electronic data interchange (e.g., Wal-Mart) •Return on space -Sales per square foot or sales per shelf foot

Using a Team to Negotiate

•Pros -More creative than one individual -Help one another reduce the chances of making a mistake •Cons -More participants = more time -Different opinions -Rogue members

Behaviors of Successful Salespeople (continued)

•Relax and listen -do not interrupt -Listen first, then answer the objection -Do not interrupt with an answer -Relax as buyers offer their objections •Evaluate objections -Objections may be classified as unsatisfied needs or excuses -Circumstances can provide clues •Always tell the truth

How to Strengthen the Presentation

•Respond to the buyer's unique style •What do they tend to like? -Expressives; intense colors, positive images -Analyticals; clean, simple, detailed, facts -Amiables; people filled, slow-paced, feel -Drivers; crisp, professional, to the point •Consider elements such as: -How many people will attend? Who? Roles? -Which stage of the buying process they are in? -What information do they need? -What type of buying situation this is? -Anticipated objections -Objectives •Salespeople should ask themselves: -How can I use my imagination and creativity to make a vivid impression on my prospect or customer? -How can I make my presentation a little different and a little stronger? •A seller should strategically select methods and media that will helpfully address the buyer's needs

summary ch. 10

•Responding to objections is a vital part of a salesperson's responsibility. •Successful salespeople carefully prepare effective responses to buyers' concerns. •Buyers object for many reasons. •Effective methods of responding to objections are available, and their success has been proved

Effective Response Methods:Buyer Raises a Valid Concern or Opinion

•Revisit method -Salesperson turns the objection into a reason for buying (aka the 'boomerang method') -Works with most personality types •Acknowledge method -Buyer voices opinions or concerns to vent frustration -Salesperson listens, acknowledges, pauses, then moves on -Should not be used if the objection is factually incorrect

Team Selection and Management

•Seller team size = buyer team size -Less is more •Defined roles •Team leader •Rules and signals •Practice •"Good Cop / Bad Cop" strategy

Dealing With Tough Customers and Customers who "Stall"

•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 corporate culture often dictates their response to a seller. •If the customer stalls or says "I need to think it over", your job of "selling" is incomplete.

Considerations during Virtual Sales Calls

•Set up their computer and create a professional-looking background for an effective meeting •Keep sound and visual distractions down. •Practice using the technology before making an actual sales call. •Confirm the available time for the call and gain permission if they intend to record it at the beginning of the call. •Continuously verify that the screen is visible and make sure they enable sound if they will be using audio or a video when they cast their screen •Make visuals an important part of their presentation. •Do not engage in other activities like checking e-mail. •Assume others who are off-screen could be listening and advising the buyers. •Find an effective way to keep track of issues and what has been decided while they are engaged in a discussion of multiple issues with various outcomes.

When do Buyers Raise Objections?

•Setting up an initial appointment -Most common when products, services, or concepts are foreign to the buyer •The presentation -Indicate the prospect's interest •Attempting to obtain commitment -May indicate salesperson is rushing the process •After the sale -Carefully respond to these objections

Discussing Discounts / Costs

•Single Order vs Cumulative... -Minimum purchase discount / to be billed to the customer if the volume is short •Negotiated items at the close: -Shipping Costs -Install date -Warranties -Payment terms -Training needs and costs

If Commitment is Not Obtained

•Some reasons for lost opportunities -Wrong attitudes -Poor presentation-Poor habits and skills -(#1Reason) •Discovering the cause -Critical so that salespeople can proceed intelligently to eliminate similar barriers (to future sales) - Suggestions for dealing with rejection •Maintain the proper perspective •Recommend other sources •Good manners are important •Be a good "non-winner", future opportunities will exist... •There are lots of prospects... or should be

summary ch. 9

•Strengthening communication with the buyer is important. •Many methods of strengthening communication are available. •A backbone of many sales presentations is the product demonstration. •It is often important to quantify the solution so the buyer can evaluate the costs in relation to the benefits he or she can derive from the proposal. •All communication tools require skill and practice to be used effectively.

Buying Signals...

•The Customer shows interest that they are ready to buy... -"Closing Cues", show their hand •Comments suggesting they are ready to buy? -Asking questions about the terms of the sale or the next steps... -Asking questions about training, installation terms or sizes, colors or options

Written Proposals

•The RFP process is the "Request for Proposal" (includes RFQ - req. for quote and RFB - req. for bid) -Contains the customer's specifications for the desired product, including delivery schedules and expectations of the purchase / product •Written proposals -Executive summary (1-2 pages) -Body of the proposal (current situation) •The total cost minus the total savings •A brief description of the problem •A brief description of the proposed solution -Budget which details costs •Presenting the proposal -Use may vary, often used to compare competitive offerings sometimes presented to a committee by the sales representative

Selling Should be a Flowing Process

•The close should be part of a natural progression of dialogue with the prospect •Use "trial closes" and probes at appropriate points in the customer dialogue / sales cycle - not just at the end (otherwise, you might waste your _______)! •Use active listening skills to identify customer buying signals (verbal and nonverbal) throughout the sales call. •Recognize and avoid common closing mistakes (e.g., closing too "early"; continuing to close after the deal is done)

Individual Behavior Patterns (continued)

•The same person can exhibit different behaviors / modes in different situations

Effective Commitment Methods

•The seller should sell in a fashion consistent with the way the buyer prefers to buy - and their own personality type / style!. •Buyers need a choice (and will value the "solution" you have proposed for them)

Effective Response Methods

•There is no perfect method for responding to all objections •Before choosing a response method, first clarify the objection by probing to ensure the salesperson understands the objection -Verbal questions -Or Non-verbal questioning look •Blunders occur when the salesperson: -Does not understand the objection -Responds to a misinterpreted objection -Fails to fully answer the objection

The Price Objection

•Use up-to-date Information -Salespeople should ensure they have the most current pricing information available to them •Establish the Value -Establish product value before discussing price -Try to look at the objection from the customer's point of view -Sell value and quality rather than price-Intangible features •Use communication tools effectively -Show customers quality and value

Value Analysis: Quantifying the Solution

•Value proposition -A comparison of how your product meets the customers needs vs. the competitor products •Cost-benefit analysis -Simple cost-benefit analysis -Comparative cost-benefit analysis •Return on investment (ROI)ROI = net profits (or savings) investment costs (money invested vs money returned) •Payback period = investment savings (or profits) per year -Time to recuperate the investment dollars

verbal tools

•Word pictures and stories -It is best to use stories from your own life. -Make sure you have a reason for telling the story. -Use the "hook" of the story to tie back directly to your presentation. -Be accurate and vivid with the words you choose. -Pace the story, watching your audience for cues. -Choose stories that fit your own style -Remember, stories can be quite short •Humor -Don't oversell the joke. -Don't apologize before telling a joke. -Identify any facts that are necessary for the punch line of the story to make sense. -Use humor from your own life. -Enjoy yourself by smiling and animating your voice and nonverbal communication. -Practice telling the joke. -Make sure your punch line is clear. -Be certain the joke will not be offensive •Graphics and charts -Know the single point the visual should make. -Use current, accurate information. -Don't place too much information on a visual. -Use bullets. -Don't overload the buyer with numbers. -Clearly label each visual with a title. -Recognize the emotional impact of colors and choose appropriate ones. -If possible, use graphics instead of tables. -Use consistent art styles, layouts, and scales. -Check your visuals closely for errors. -Know and obey copyright laws.