Sales #2

Provide two examples of trial closes

"How does this sound to you?" "Does this sound like something you're interested in?"

What are three things you can do when dealing with a difficult customer?

- Be calm and easy to get along with - Be open, direct, honest - Ask questions

Define analysis paralysis. How can it affect sales preparation?

- It occurs if all time is spent analyzing situations or finding information - This can lead to lack of focus on the sales preparation

What are four demographic details we discussed related to a prospect's organization?

- Size and number of locations - product and services offered - financial position and its future - overall culture of the organization

What is an influential adversary, and what are two ways to overcome them in a sales scenario?

- carry great influence but are opposed to you/your firm/products - find a way to get them on your side or make sure they're not part of any important meetings

What are the prospect's competitors to you (as a salesperson)?

- help define prospects strategic position, how they differ

What are two ethical dilemmas to be aware of when gathering personal customer information?

- how much is too much? - don't sell them on something they don't need

We discussed six reasons for planning out a sales call. List and explain three of them.

- to be reasonable with expectations and goals - to avoid talking about things that the buyer doesn't know/care about -you'll have knowledge, which gives you confidence

Using a cost/benefit framework, at which point will a customer be inclined to purchase from you?

- when the benefits outweigh the costs

What are three common reasons for cold call reluctance?

- worrying about worst case scenario -spend too much time preparing -being fearful

When is each useful in a presentation: verbal tools, visual tools, testimonials, test results, product demonstrations?

-Verbal tools: pictures, stories, humor -Visual tools: graph, charts, graphics, models, catalogs, brochures, photos -Testimonials: statements written by satisfied users of a product or service -Test results: conducted by firm, customers or third party orgs -Product demonstrations: at a trade show when you have limited time

What are two things to do when faced with an objection? What should you not do?

-Welcome the objection - make sure to listen to them fully to know where to go next -Don't be defensive or argue

How can you overcome cold call reluctance?

-set specific goals -engage in sales training and role-playing activities -stop negative self-evaluations

What is Lombardi time and why is it a good rule to follow as a salesperson?

15 minutes early is on time This allow for anything to go wrong, also gives you time to look over notes

Compensation method

Acknowledging objections' validity and then showing any compensating advantages - "Yes we don't have this BUT we have.."

Define and provide an example of using the endless chain method to find lead?

Attempt to secure at least one additional lead from each person he or she interviews. Ex: girl scout cookies

Postpone method

Buyer raises an objection which salespersons would prefer to answer later "Can we take this off line?"

What is a cold call blitz?

Call all prospective businesses in a given geographical territory on a specified day

What is cold calling?

Cold calling is trying to generate leads by calling on totally unfamiliar organizations.

Define and provide an example of using the center of influence method to find leads

Cultivating well-known, influential people in the territory who are willing to supply lead information. Ex: trade association executive

Define and provide an example of product opening

Demonstrate a product feature and benefit as soon as you walk up to the prospect (ex: at a tradeshow)

What are the five questions that must be answered in the affirmative to make a lead a prospect?

Does a want or need exist? 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?

When dealing with price as an objection, what should your first response not be?

Don't lower the price as first response

How would you structure a presentation for each of the four social styles? What would you include? What would you not include?

Expressives: strong, intense colors and lots of photos, cartoons, fancy fonts and positive images Analyticals: Clean and simple, a list of references, and lots of details A cluttered presentation is a bad presentation Amiables: With people and a relatively slow-moving presentation Drivers: Crisp, professional visuals with bold lettering to highlight important points

What is feature dumping? What is a feature without a benefit?

Feature dumping: Discussing features that is of no use to the customer A feature without a benefit = who cares?

Define features and benefits as they relate to a product

Features are the bells and whistles, benefits solve the problem

What is forestalling and how is it beneficial? Provide an example of forestalling in a sales presentation.

Forestalling: provide information ahead of time to prevent objections - You beat them to the punch - "Just so you know, this price is hefty, but it's worth it for the reliability and many features"

What are house accounts, and how do they differ from a normal account?

House accounts are covered by corporate headquarters. These are customers who generally receive priority and prompt attention, straight from corporate. Obviously, you can't steal prospects from corporate

What are four key components to planning a presentation?

How many people will attend Which stage of the buying process are they in What information they need What type of situation is this

What is the most important question to ask just prior to proposing a solution?

Is there anything else?

What are five important things to consider and/or include in a handout?

Keep it short Keep your presentation storyline Use images if you can Add some "further reading" Add contact details

Define and provide an example of leads

Leads: Potential prospect that may or may not have what it makes to be a true prospect ex: cold call

What is the two-step approach to establishing value?

Look at the objection from the customer's viewpoint Sell value and quality rather than price

Define and provide an example of secondary objective

Maybe getting to meet someone else or getting a tour of the facilities

We discussed common objections related to six topics. List them and provide an example for each

Needs: I do not need the product or service Product: I don't like the product or service features Price: I have no money Source: I don't like your company Time: I'm just not interested today Other: We have no room for your line

For communication to be effective, how important are each of these categories: non-verbal communication, how you say it, words?

Non-verbal is most important (55%) How you say it is middle (38%) Words are least (7%)

Define and provide an example of an objection

Objection: a concern or a question raised by the buyer; doesn't have to be in question format Ex: I don't like you

What is impression management and how can it help you in your career?

Process where salespeople can manage the buyer's impression of them example: how to act the first 6 months of the job is imperative

Define and provide an example of prospects

Prospects: Good candidate for making a sale ex: warm lead

What is rapport and what are a few topics that can be useful in developing rapport with a potential customer? What are some topics to stay away from?

Rapport: Close, harmonious relationship founded on mutual trust A few topics to make small talk on are current news, hobbies or mutual friends, along with sharing goals/agenda Do not talk about politics, religion, complain about others, gossiping about competitors

What does SMART refer to in setting call objectives?

SMART: Specific, Measurable, Achievable, Realistic, Timely

Indirect denial

Salesperson denies the objection but attempts to soften the response - "Your products break down more often than those of most of your major competitors." "Maybe in the past, but not anymore"

Acknowledgement method

Salesperson lets the buyer talk, acknowledges it and moves on to another topic after a pause - clip from Superstore "let's look out the window"

List and define the four components of the SPIN technique? Provide an example of each question

Situation, Problem, Implication, Need Payoff. Situation question: ask about facts or explore the buyer's present situation Ex: How many people are there in this location? Problem question: ask about specific difficulties, problems or dissatisfactions the prospect has with the present situation that you can solve with your products and services Ex: How satisfied are you with your present system Implication question: Questions that follow Problem questions, designed to help the prospect recognize the true nature of their problems Ex: What happens if you miss a deadline? Need payoff question: Asking questions about the usefulness of solving a problem Ex: If I showed you a product that was more reliable and faster, would that help you meet your customer's demands?

Define and provide an example for compliment opening

Start by complimenting the buyer or the buyer's firm. Be sincere

Define and provide an example for benefit opening

Start by telling some benefit of the product. Ex: get down to business right away

Define and provide an example for question opening

Start the conversation with a question. Begins two way communication

Define and provide an example for referral opening

Tell about someone who referred you to the buyer. Always get permission

Define and provide an example of primary objective

The actual goal you hope to achieve (ex: get the buyer to make a large purchase today)

Define and provide an example of minimum objective

The minimum you hope to achieve (ex: get the buyer to make a small purchase today)

Focus of Power

The person who is most likely to approve, prevent and/or influence action

Focus of dissatisfaction

The person who is most likely to perceive problems and dissatisfactions (receptivity may tell you about dissatisfaction)

Focus of Receptivity

The person who will listen receptively and give the seller needed valuable information (the person who knows all and will help you out)

How is it different from warm calling?

Warm calling is where you have some soft knowledge or contact with the lead

Direct denial

salesperson makes a relatively strong statement to indicate the error the prospect has made "I'm surprised your firm is still in business. Weren't they under investigation for fraud last year?" "Not true"