Principles of Selling

sales lead

After a potential customer has shown interest in the company's product or service, that person becomes a and can be contacted individually by a sales person.

A sales person who suggests that a customer purchase a related product is doing what? (Select the best answer.)

Cross selling

Know your product

It's important for sales people to know all the features and benefits of the company's products and services. The features are the facts about the product, such as the size, material, and so on. The benefits are the ways the product will make the customer's life better. Sales people should know what is unique and special about these products and services in comparison to competitors' products and services. Focus on those unique things that differentiate this product from others. It may be price, quality, service, or other characteristics that make this product stand out. Sales people should know all of the company's products and services well, so they can suggest other products or services if this one doesn't seem like a good fit for the customer. This also makes it easier for the sales person to suggest other products or services that would go well with the one the customer is purchasing. For example, if a customer is buying a bike, the sales person might suggest a repair kit that attaches to the bike for emergencies. Selling related products like this is called cross selling. The sales person might also upsell by convincing the customer to buy a larger quantity of the item or a more expensive version of the item. For example, if a buyer wanted 10 reams of printer paper, the sales person might tell them they would get a much better price per ream by purchasing 20 reams instead. Or a sales person might convince a consumer to spend more for a car with more features than the buyer originally intended to get.

Know your customer

Loyal customers are a big asset to a company. It's more important to build a strong long-term relationship with the customer than to make a sale that will help the company in the short term but that the customer might regret. The sales person should listen to the customer and pay close attention to the customer's individual needs and wants. Find out what type of communication this customer prefers. Does the customer prefer to communicate over the phone, through e-mail, or in person? Does this customer appreciate small talk and getting to know each other personally, or does this person want to stick to business? Customize your approach to the individual customer. Make the relationship as friendly, professional, and personalized as you can. Each customer will have different priorities and needs. The better you know them, the better you can match the person with a product or service that will fit those needs. Make sure that this individual customer will actually benefit from what you are selling and can reasonably afford it. You don't want the customer to leave the transaction regretting anything or feeling that they were pressured at all. Listen to the customer and address their concerns honestly. If this means advising them to buy something less expensive or nothing at all, that's okay. It's better to keep a good relationship with the person so they will come back to you in the future when they are ready to buy your product or service. Even if they never buy anything from you, if they had a good experience with your company, they may recommend you to others. It's also best for your company to avoid wasting time pressuring someone who isn't really interested in your product or service. You could use your time better by focusing on potential customers who would really like and benefit from your product or service.

Creating sales leads

Marketing is meant to get people interested in the company's products and services. Marketing can encourage people to buy a product, but it doesn't guarantee that sales will happen. Sometimes, marketing alone is enough to get a customer to go out and buy the product. For example, an advertisement might convince a consumer to buy a certain type of candy or jeans. The consumer might order the product online or go to a store and buy the product without much help from a sales person. Often, marketing gets people interested but not fully convinced to buy the product right away, especially if the product is somewhat expensive. When that happens, interested potential customers can be passed on to the sales team.

Focusing on groups

Marketing is meant to reach as many potential customers as possible, so it isn't usually customized for individuals. For example, a marketing e-mail might be sent out to thousands of potential customers, but the e-mail itself is probably pretty much the same for each person. It doesn't usually make sense to customize a marketing message for each potential customer, since the company doesn't know yet which people are really interested.

business-to-consumer or B2C sales.

Selling to an individual consumer is called

business-to-business or B2B sales

Some companies sell their products and services to other companies, instead of to individual consumers

Which of the following types of product sales are most likely to require advice and guidance from a sales person? (Select four answers.)

Stereo speakers A new car An expensive watch Furniture

Be genuine

important to believe in the product or service you are selling. Many customers will be able to tell if you are being genuine or honest with them. If people think you are being phony or not looking out for their interests, they will be less likely to believe you or buy from you. If you actually believe in the product and care about your customers, people will like you more and be more likely to buy from you. When customers raise concerns or objections, listen to them and then respond honestly, even if that means advising them against buying the product or guiding them toward a less expensive product. This will build trust, so that even if your product wasn't right for that particular customer, that person may recommend your product to other potential customers. Be professional, respectful, and patient with all potential customers, and don't ignore any of their concerns.

Marketing

is when a company promotes its products and services to potential customers.

Sales

is when the company sells a product or service to an individual consumer or to another company. This is how the company makes money.

Marketing messages are aimed at groups of people called

market segments or target markets.