selling exam 2 (1,2,3,4,5)

Visual factors

correct any detail that could become visible distraction. Nonverbal communication is powerful (pay attention to what the prospect sees in your body language and what you wear). Don't wear jewelry that advertise your membership to a specific organization that might not be admired

What is the best approach to voicemail?

dont give too much info but give them a compelling reason to call back. give number twice and do not leave them on monday morning or friday afternoon

Handshake

firm, maintain eye contact whole handshake, wait for prospect to initiate, no sweaty hands, hands should meet at an equal distance vetween you and the prospect in a vertical position

What distinguishes idle conversation from chit-chat with a purpose?

gain an advantageous, positive beginning that breaks the ice and eases the tension, build rapport

What are effective means of interacting with and utilizing gatekeepers?

give them respect -adjust your attitude -honesty is the best policy -sell it to gatekeeper-question -be thoughtful (wish them hbd) -be patient

Group Prospecting

he idea is to bring together a number of people, from 8 to 20 or more. You can meet virtually anywhere from homes to offices. The purpose is to inform prospects about your product/service. During group sessions salespeople have an opportunity to find and hone in on people's pain points

How do you build trust during the approach stage?

integrity

Question Approach

investigate the prospects needs and apply the benefits of your product or service to those expressed needs. Frame a leading question to obtain mental commitment from the prospect and at the same time show a major benefit.

Social media

it's cost effective and efficient. is about creating context with people so that your social interactions may eventually lead to a sale. full of clutter so it will take a little effort and some strategizing.

Referral Approach

leverage by borrowing the influence of someone the prospect trusts and respects.

Referrals

name given to you as a lead by a customer, a friend, or even a prospect who did not buy, but felt good about you and your product. It's one of the most powerful techniques available to sales professionals. People trust recommendations from business colleagues, friends, and family 92% of the time and more than all other forms of marketing.

Advantage

performance characteristic of the product or what the product does

Building Rapport

pronounce the prospects name correctly. If compliment make it specific and sincere. Respect prospects personal space. Look for common ground. Be enthusiastic

Class C

prospects are people whose names you have found in some way, but about whom you have little or no information other than a name. They are leads, not prospects.

Qualify leads

Have a process in place and the resources and skills to qualify those leads. Generating leads is akin to building the Alaskan pipeline. Figure out how to build the pipeline and get the oil flowing.

Class A

prospects are those about whom you have adequate information to make a presentation. You know they have the money to buy and the authority to make a decision. Ideally, you also have a referral from someone they respect.

Class B

prospects are those about whom you have adequate information to make the best possible presentation. You may not know enough to be sure they need your product or service. You may not know whether they have the authority to make a decision or whether they can afford to buy. You may not have a referral to help open the door. When one or more of these items is missing, the proper action is research rather than approach.

Networking

refers to the active cooperation between business people to share information about the business climate, specific happenings in the business community, and prospects. It involves the 3 C's:-Connecting-Communicating-Cooperating

Benefit

result the buyer will realize from the product

What is the appropriate place/value of competition?

say something good about them-respect earns respect

Qualifying Question Approach

seeks a commitment from the prospect, ask the prospect to consider buying the product. Determines if they are cold, or hot, or lukewarm

Physical Actions

shake hands, maintain eye contact, and greet the prospect warmly- never say "how are you?" use the prospects name in greeting. Refrain from person habits

Compliment Approach

signal sincere interest in the prospect

Clarification

the client is trying to object, rather clarify what they think/ feel. Let them do so and don't fear it

What is a gatekeeper and his/her role in an organization?

those who control the flow of information into the buying center.

emotional clarity

understanding there is a diff between economic need(real) and emotional need for this person to be solution to the real need posture

Hands-on Approach

useful for visual, outgoing, and overtly friends prospects. Handing the product or some visual to produce a positive reaction. Focus on the uniqueness of the product

What is the one word secret to making the perfect sales pitch?

"Don't" is that one word. The secret to the perfect sales pitch is to have no pitch.

What items are included on the preapproach information checklist?

- What business is the company in? What are its products and markets? Who are its primary customers? - How big is the company? Where does it rank within its industry? Can this company give me enough business to make this call worthwhile? - Who is the ultimate decision maker in buying my product? - Who else influences the buying decision? - How often does this company buy my type of product or service?

Present: What are the root meanings of the word "present"? What is the rightful role of facts in a presentation. What is superior to facts? What is the right/wrong role of scripts in presentations?

-Root meanings: As a verb- to tell your story/explain Macguffin. As an adjective- existing right now, having an influence and being in the time and place at hand.-The role of facts were to give information, now its more important to tell stories-Scripts are good for preparation, however you need to use the material in the scripts and make it your own

Why and how does power come from silence?

-Silence in a conversation have a wonderful way of coaxing deeper thoughts to the surface. You tap into your greatest value and authority when you are not speaking.

Listen: What is the pure and rightful focus of true listening? How can true listening provide value to the speaker?

-Simply Listen! Listen because you are interested/curious/ and want to learn -It lets you know what a customer wants, feels and thinks. It shows that you care and helps you identify true concerns

Specifically how can the various types of social media be used in effective preapproach activity?

-be selective on linkedin -get to the point on twitter -inspire through facebook

What are some better methods mentioned for prospecting over straight cold calling?

-internet -social networking

List/describe the 6 step telephone track.

-introduce yourself and the company -provide a tangible benefit -personalize the call -take pressure off the call -overcome resistance -request an appointment

What are the elements of a good telephone voice?

-pitch -volume -rate -quality -articulation

Describe the aspects of the two factors that ensure salespeople create an ideal situation when setting up the sales meeting?

-timing (when best time to call is) -gaining entry

What four questions must you be able to answer before making a call?

-why am i calling? -what is my proposal -what would make this person grant my request -how does my script sound

What basic information about leads is desirable to have/record?

1. Prospect's full name and nickname (if you know it) 2. Email address and business and home address 3. Direct phone number (cell phone is best) 4. Name of company she or he works for 5. Position in company 6. Family information (spouse, number of children, etc.) 7. Personal information (club memberships, college attended, hobbies) 8. Approximate income (if your product or service is to be sold to the individual rather than to your company) 9. Source of prospect (Did you get his or her name referral or otherwise?)

What are the 4 key objectives of an effective approach?

1. To make a favorable or positive impression on the prospect 2. To gain the prospects undivided attention 3. To develop positive interest in your proposition 4. To lead smoothly into the need discovery phase of the interview

What 3 mistakes are made in forming first impressions?

1. making it about yourself 2. making a phone call without any information about the person 3. improvising the calls

What is the difference between pitching and serving?

A pitch is me-focused and a serve is them-focused.

Strategic Calling

All about your state of mind. For most salespeople, it is not meant to be your only source of leads but calling on potential unsuspecting customers can be a supplement to other prospecting efforts. You must be able to communicate with a prospect so that they understand and resonate with what you have to say.

What can you do to overcome personal reluctance in approaching prospects and customers

Any compliment should relate to the general area of your product or service so that presentation grows naturally from the opening. Make need discovery seem like a natural process to obtain actual meeting.

Distinguish between productive/great questions salespeople should ask and unproductive/ineffective questions that should be avoided. What are the main purposes/goals of asking the great questions?

Asking great questions allows you to show them how inadequate their world is without you and your terrific product or service. Great questions lead the other person into a conversation that makes them feel good. Honestly great questions might lead into conversations that only result in making a new friend but that is okay.

Be Real: What do you have to do/have to be authentic?

Authenticity is not something you seek or take on, it's something you simply embrace. Closely related to the word authenticity is integrity- being whole, not being divided. Meaning, your words and actions are not separate. You do what you say and say what you do. You keep your promises.

Look the part

clothes speak about you, your company, your work, and how you relate to customers.

posture

combination of emotional discipline and emotional clarity

Why is it important to understand what a product's or service's Features, Advantages, and Benefits are and how they connect?

Customer wants to know what it will do for them, not just what it is made of

Who are in your cold, warm, and fuzzy markets, and where will the majority of prospects/customers come from?

Customers from a cold market are those you didn't know and customers form a warm market is those you did know and then most of your customers will come from fuzzy markets which consist of people in between cold and warm, so people you vaguely know: not exactly friends, but not exactly strangers either.

Service superiority

Delivery, Inventory, Credit, Training, Merchandising, Installation, Maintenance

Oversell

Don't over hype yourself/the product. Do not promise more than what is in your control

Undersell

Don't promise more than you are willing to follow up. Be authentic

How does effective follow through add value?

Effective follow through adds value in that it connects them to other people and suggests ways they can do business with each other or benefit in some other way from that relationship.

What are the differences between features and benefits?

Features are answers to the question "What?"Benefits are answers to the question "Why?" Features: Data, information, facts, characteristics about product. Benefits: How the feature helps the customer. General and specific benefits.

Closing

Focuses more on us versus the client. We begin to focus on our success, what we're doing and become distracted from the client. This technique looks at making the sale

What constitutes a proper greeting?

Friendly face, proper words, and an appealing surrounding

What is the appropriate place/value of competition?

Good competition keeps you on your toes, raising the bar for what a business like yours can do. Good competition pushes and stretches the limits of what's possible.

Why is effective follow through more like farming than fishing?

In farming you prepare the soil, you plant seeds, you water, weed, nurture, and cultivate. In other words, follow through

Distinguish between structural authority/pushing and moral authority/pulling.

In sales, Structural authority/pushing is telling people what you want and moral authority/pulling is finding out what they want.

When you complement/respect competition what are the key messages you are sending to prospects?

It shows you are confident, successful, and that you are safe.

Competition

Learn about your major competitor's product lines; know their credit terms, their prices, their delivery schedules, and their reputations for service. Consumers don't weigh the advantages of buying a product against those of not buying; rather, they are trying to decide which product to buy, yours or the offerings.

Current Customers

It would be a mistake not to mention one of salesperson's most powerful and ever-present sources of business - and that is the existing customer base. Acquiring new customers is expensive - five to ten times the cost of retaining an existing one - and the average spending of a repeat customer is a whopping 67% more than that of a new one.

Centers of influence

It's a person who believes in what you are selling, influences others, and is willing to give you names and help qualify them. It can give you far more prospects and is both willing and able to provide new names on a continuing basis.- Also always find a way to show your gratitude by being of service to them

Business and Civic Groups

Membership can give you opportunities to meet people who are prospects for your product or service. In selecting groups to join, consider the kinds of prospects you need to meet. It is also beneficial to choose organizations to which decision makers belong. Keep an updated file of the organization's members as you meet and learn about them.

From what sources can salespeople obtain preapproach information?

Mergers, Personal Changes, Changing product lines, Advertising plans, Online, TV, and Magazine ads, Sales training

MADDEN test

Money Approachable Desire Decision Maker Eligible Need

Service

Once a product or service is sold, your responsibilities have just began. It is outstanding after-sale service that will cement the relationship and ensure repeat orders and repeat commissions!

Turn into the skid

Overcome the objection with empathy. Instead of facing off and staking out a debate position, step over to where the person is standing next to them and look at their objection with them

How do you go about remembering a prospect's name?

Pay attention, Concentrate, Associate, Observe, Repeat

Fuzzy Influence: All other things being equal, who will people do business with and refer others to?

People will do business with and refer business to those people they know, like, and trust.

People superiority:

Personal knowledge and skill, skill of support, Personnel, Integrity and character, standing in community, flexibility of call, schedule, interpersonal skills, mutual friends, cooperation.

Feature

Physical characteristic

Why is prospecting such a hard thing for people to do?

Prospecting is a hard thing for salespeople because most us want to be liked by other people.

Educational Approach

Relationship selling. Research field so thoroughly that they are able to present new information to the prospect by becoming an authority

Distinguish between how follow-up is addressed in typical sales training versus the meaning of follow up from the Go-Giver perspective.

Sales training usually use the term follow-up, which means continuing or repeating something that has already been done. Go-Givers perspective is completing a process or action and taking it to its fullest conclusion.

What is the Law of 250?

The Law of 250 says that on average, every person has about 250 people in his life who would show up at his wedding or funeral. Joe concluded that if he treated one customer poorly, he had lost not one sale but a potential 250 sales. On the other hand, he reasoned, if he treated that same person well, he had just had a positive influence on 250 people, and not just one. Each individual has a sphere of influence that encompasses an average of 250 people each of whom has his or her own sphere of influence encompassing 250 more people each and so on.

Challenge

The need for overcoming or getting it over with

What is the purpose of effective preapproach?

The preapproach is the planning and preparation done prior to actual contact with the prospect. In gathering such information, you learn who to call, why, when, and where. Seemingly insignificant details might be the key to the approach

What should be the prime goal of networking and meeting new people?

The prime goal of networking and meeting new people is to meet people and make a few new friends.

What is the traditional "three foot rule" and how does that compare to the Go-Giver's "three foot rule"?

The traditional "three foot rule" says that everyone who comes within three feet is fair game to pitch about your product. The Go-Giver's version goes something like this: Anyone within three feet is worth getting to know better.

Add value

The worst thing you can say is something like, "I'm just calling to find out if you've gotten that budget yet." Email case studies or relevant and insightful articles based on research about them and their company. That way, you are not only checking in, you are contributing to their productivity.

Selling has traditionally been conceived as an "art" - identify ways that selling is going beyond "art" to becoming a "science". Specifically, this refers to what ways is selling incorporating collection and analysis of sales data and design of consistent, tested methods?

Their ability lies in their ability to solve problems -problem solving outweighs persuasion

Nurture leads

There will likely be some leads that aren't ready for sales. A process that includes phone calls, email, contract, and direct mail is necessary to keep in touch with those prospects until they're ready to see a salesperson.

Why are emotional clarity, emotional discipline, and posture crucial to success in sales?

These are key to succeed in sales because you cannot control the outcome of what the customer will do, but you can control the actions you take, the words you speak, and especially the thoughts you hold because your thoughts often communicate just as loudly as your words and deeds.

Opening

This technique focuses on creating value. This includes the person and allows for them to feel less pressured, opened to making decisions. Apply no pressure and let them have an escape route. Do NOT close them in

Source superiority

Time established, Competitive standing, Community image, Location, Size, Financial soundness, Policies and practices

Email and Direct Mail

Ultimate success of prospecting depends on the management of your mailing list. The product/service you sell has a great deal to do with what kind of list you use. The goal of the list is to have people/businesses that are partially qualified prospects.

Product superiority

Versatility, Efficiency, Storage, Handling time, Safety, Adaptability, Appearance, Design, Mobility, Packaging, Life expectancy

emotional discipline

abilty to hold onto that clarity and consistently choose your responses to each sistuation rather than reacting

Websites

acts as the company's representative, so you want it to reflect your professionalism in terms of design and content quality.

Professional Habits

be prompt, even early. Present a clear agenda; state the purpose of your call right away. Be prepares with as much info as possible

Relevant Benefit Approach

useful when you already know a need that prospect has based on answers from preapproach. The benefit statement should be unique and appeal to the dominant buying motive. Something new and different about your product. Prospects wants more information, shows prospect you've been listening to what you have been saying.

Curiosity Approach

works best when you know something about the prospects needs and why they have agreed to meet with you. "have you ever been"

When you complement/respect competition what are the key messages you are sending to prospects?

you are confident you are successful you are safe

How can social media assist in the qualifying process?

you can reach people you wouldnt be able to prior & gather informal intel through posts

How is creating value the same as and different from making a sale?

you cant make a sale, they do that, what you do is create value

Company

you need to something about the history of the place: Who founded it and when, how the present product line evolved, its position in the marketplace, its past and present performance and growth.

What is the best way to get a prospect's attention?

• Appeal to the senses- gets prospect involved in the presentation • Introduction of a benefit- introduce with statement that relates to the prospects need for your product or service

How do each of the social styles impact your approach strategy?

• Expressive- open in terms of long-range goals • Analytical- open in very specific terms • Amiable- open in supportive, people oriented terms • Driver- open in results-oriented terms