Professional Selling 3337
Emotive
"I like competent, imaginative, salespeople" - Personable - Stimulating - Enthusiastic - Dramatic - Inspiring
Supportive
"Showing concerns for me/ my problems" - Supportive - Respectful - Willing - Dependable - Personable
What are the three keys to a partnering relationship?
- A relationship built on shared value - Everyone having a clear understanding of the purpose of the partnership and committed to the vision - The role of the salesperson must move from selling to supporting
Misconceptions of transactional
- A transactional sale is a small size (some of the largest sales we studied were transactional) - All customers can be shifted from transactional to strategic with the right selling approach ( Many customers prefer to stay transactional
Non verbal accuracy and negotiation performance
- About 70% of communications are exchanged nonverbally - Sales negotiators who have a better understanding of non verbals at the beginning of negotiation perform 140% better than others - Sales negotiators who have a better understanding of nonverbals both at the beginning of negotiation and during negotiation perform almost 3.5x better
win-win philosophy
- Adopting the win-win philosophy is the first step in developing a relationship strategy. - In win-win selling, both the buyer and seller come out of the sale understanding that their respective best interests have been served, so both "win." - The starting point to the development of a win-win philosophy is to compare the behaviors of persons who have adopted the win-lose approach with the behaviors of persons who have adopted the win-win approach.
Consultative
- Advice focus - Expertise decision - Want meetings
How do salespeople rationalize or justify their unethical actions?
- All of the above - No one could possibly find out - the company owes me - my co workers do it
The V-A-B model
- Aside from past behavior, values and attitudes are the best predictors of future behaviors. - Salespeople values are static, but situational factors can often get them off course
Financial reasons for ethical behavior:
- Attract better sales talent - Employee satisfaction and loyalty - Cost to acquire - Value of loyal customer - more purchase - word of mouth
Suggestions from Dale Carregie on building strong relationships:
- Become genuinely interested in other people - Be a good listener - Encourage others to talk about themselves - Offer sincere compliments - Search for mutual acquaintances or interests
Consultative Selling Era emerges ( Late 1960s to Early 1970s) Selling Emphasis
- Buyer needs are identified through two way communication - Information giving and negotiation tactics replace manipulation
communication style
- Communication style is a pattern of behavior that others observe
Transactional
- Cost focus - Convenience decision - Don't want to invest time
Partnering Era Emerges (1990 to present): Selling emphasis
- Customer supplant the product as the driving force - Greater emphasis on strategies that create customer value - Adaptive selling is given greater emphasis
Evolution of Consultative Selling
- Extension of the marketing concept - Emphasizes need identification - Salesperson plays role of consultant - Negotiation over manipulation
Strategic customers
- Have a problem - Value your time - Buy on expertise and trust
Win-Win People
- Help others solve their problems - Fix what caused the problem - Make life a joyous happening for others and themselves - Learn from the past, live in the present, and set goals for the future - Make commitments to themselves and to others and keep them both
Transactional customers
- Know what they want - Treat you as a commodity - Buy on price and ease of doing business
Develop a relationship strategy with three key prescriptions
- Maintain high ethical standards - Project professional image - Manage the relationship process
2020 and Beyond: Major Developments affecting
- Major advances in information technology and electronics - Strategic resource is information - Business is defined by customer relationships - Sales success depends on creating and adding value - Virtual selling has increased due to COVID crisis
Personal selling skills contribute in a significant way to four groups of knowledge workers.
- Managerial personnel - Professionals - Entrepreneurs - Marketing personnel
selling emphasis Marketing Era begins
- More organizations recognize that the salesperson is in a position to collect product, market, and service information concerning the buyer's needs.
Ways salespeople justify unethical behavior
- My co-workers do it - The company owes me - No one could possibly find out - Taking pens and pencils from work isn't a big deal
Adding Value with Nonverbal Messages
- Non verbal messages are messages without words or silent messages. - These are the messages (other than spoken or written words) that we communicate through facial. expressions, voice tone, gestures, appearance, posture, and other nonverbal means - When two people communicate, nonverbal messages convey much more impact than verbal messages
Marketing Era Begins (1950s)
- Organizations determine needs and wants of target markets - Adapt to delivering desired satisfaction - Product orientation replaced by customer orientation
Consultative Selling Era emerges ( Late 1960s to Early 1970s)
- Salespeople are becoming diagnosticians of customers needs as well as consultants who offering well considered recommendations; mass markets are breaking into target markets
Win-Lose People
- See a problem in every solution - Fix the blame - Let life happen to them - Live in the past - Make promises they never keep
Strategic selling Era emerges Early 1980s: Selling emphasis
- Strategy is given as much attention as selling tactics - Product positioning is given more attention - Greater emphasis on account management and team selling
Behavorial Styles matrix
- Supportive - Emotive - Reflective - Directive
Major features of consultative selling
- The customer is seen as a person to be served. - Buyer's needs are identified through two-way communication. - Emphasizes need identification, problem solving, and negotiation. - Emphasizes service at every phase of the personal-selling process.
Transactional plan
- To get transactional business you need a low cost business model: Standardized products, cookie cutter processses - Transactional customers don't want and don't value expertise and advice: They judge you mostly on price - Winners in transactional markets come in late with low margin bids that undercut or disaggregate the leading bidder
Factors influencing the ethics of salespeople
- Top management Ethical standard tend to filter down from the top of an organisation - Company policies and practices Many employees do not have well developed moral sensitivity and, therefore, need the guidance of ethics policies - Sales Manager The sales persons actions often mirror the sales managers behavior and expectations - Personal Values Deep personal beliefs and preferences that influence behavior
under the marketing concept
- customer focus and value are the paths to sales and profits - customer satisfaction is of primary importance
How can you develop a more positive self concept?
- focus on the future and stop being overly concerned with past mistakes or failures - develop expertise in selected areas - learn to develop a positive mental attitude
Examples of unethical behavior
-Deception Over exaggerations, withholding information, lying - Selling orientation Taking "hard sell" approaches with customers - Illegal activities Padding expense reports, other forms of fraud
Non verbal messages model
-non verbal (70%) Voice - tone - pitch - rate - intonation - accent - subtle variations Body Language - facial expression - gestures - posture - body angle - physical space Personal appearance - clothing - shoes - accessories - grooming Verbal (30%)
Communication style principle
1. Individual differences 2. Style as a way of thinking and behaving 3. Style tends to be stable over time 4. There is a finite number of styles 5. Get in sync with styles of others
Create a Self-improvement Plan
1. Set goals 2. Use visualization 3. Use positive self-talk 4. Reward your progress
The consultative sales presentation guide
1. need discovery 2. selection of solution 3. need satisfaction presentation 4. servicing the sale
Which elements not considered a key component of a partnering relationship among the following options:
A relationship based on buying and selling goods and services
How has the information asymmetry shifted?
Asymmetric information now is in the hands of the buyer or what we call Symmetric information
Sellers can't just rely on trying to trick you anymore why? Daniel Pink
Because you can determine whether they're telling the truth
What is an important foundational elements of adaptive selling?
Communication style
Recognizing social styles
Dominance - Competitive - Rapid movers - Quick decision - Initiative takers - Time sensitive Sociability - Friendly - Talkative - Approachable - Sensitive - More sensitive
According to Neil Rackham, persuasion is the most important skill for a salesperson
False
Based on the video with Dr. Johannes Habel, NPS stands for Net Promotion Satisfaction
False
Communication style principles goals
First Goal - Understand your own preferred communication style Second Goal - Develop greater understanding and appreciation for different style Third Goal - Manage relationships by adapting style (style flexing)
Alex Mitchel spends his entire day traveling between customer locations for sales meetings in his role with a leading technology solutions provider. What is Alex considered to be?
Outside sales rep
In the video of "The wolf of wall street" that you viewed, which stocks did Leonard Dicaprio (portraying Jordan Bellfort) sell with a 50% commission?
Penny stocks
Partnering Era Emerges (1990 to present)
Salespeople are encouraged to think of everything they say or do in the context of their long-term, high-quality partnership with individual customers; sales force automation provides specific customer information.
Whats is B2C? Business to consumer sales?
Salespeople selling to consumers. When a sales person sells directly to the customer, to the end user.
four key groups for relationship strategies
Salesperson - customers - secondary decision makers - company support staff - management personnel
All of the following are the characteristics of win- win people, except:
See a problem in every solution
The collection of facts, opinions, beliefs, and perceptions that you had about yourself is referred to as your:
Self concept
Michael Dell calls it one ofthe most master skills for success
Selling skills
What are the two customer value types?
Strategic customers and Transactional customers
Strategic selling Era emerges Early 1980s
The evolution of a more complex selling environment and greater emphasis on market niches create the need for greater structure and more emphasis on planning.
According to author Daniel Pink, what is the major factor changing sales?
The shift from information asymmetry to information symmetry
Do inside/ outside salespeople work together and how?
They might work together an inside sales person who's developing the relationship or setting it up and the outside sales person who follows up meets them, does product demos and closes the sale
All of the followings are the characteristics of transactional customers except:
They value the solutions that the sales person provides and price usually is not a determining factor for them
A sales person's ethics and values contribute more to sales success than techniques or strategies - Ron willingham
True
According to Michael Dell, selling skills are considered a "Master Skill for success" among entrepreneurs
True
Consultative style selling, emerging in the late 1960s and early 1970s is indeed considered an extension of the marketing concept
True
Customers today buy more transactionally and want more deeper consultative relationships
True
Due to changing customer preferences, where "The middle is disappearing" more customers are now making both transactional and strategic purchases
True
Ethical behavior results in employee satisfaction and loyalty
True
Ethics is the foundation for partnering style interactions that create value
True
Ethics plays a tremendous role in sales
True
In the contemporary business landscape. Salespeople require more education and skills compared to their counterparts in the past.
True
Padding expense reports and over exaggerating are examples of unethical behavior
True
Sellers always had more information than the buyer and that led to shenanigans. True or False. Daniel Pink
True
Ten to fifteen years ago a few were transactional customers and a few were consultative customers
True
Ten to fifteen years ago the middle of both transactional and consultative most customers would pay a little extra for some advice
True
The impact of disintermediation is expected to affect the roles of product information rep and order taking reps but is less likely to influence KAM roles
True
The middle of transactional and consultative today is going away
True
The world has moved from caveat emptor buyer beware to caveat vnditor seller beware. True or False. Daniel Pink
True
What is one of Dale Carnegies recommendations for fostering strong relationships among the following options
Urge individuals to talk about themselves
What does VAB stand for?
Value Attitude Behavior
Which of these is the correct chain?
Values, Attitude, Behavior
Asymmetry of information
When the seller has more information than the buyer about the product.
What is asymmetry sales? Daniel Pink
When the seller use to have more information than the buyer
Careers in Personal Selling
Wide range of employment opportunities Activities performed by salespeople Freedom to manage one's own time and activities Above average income Above average psychic income Opportunity for advancement Opportunities for women
Strategic/Consultative Selling Model
a five-step framework for approaching the personal selling task: Strategic Step -Develop personal selling philosophy Prescription - Adopt marketing concept - Value personal selling - Become a Problem solver/partner
In consultative selling, the sales person should see the customer as:
a person to be served
What are Penny stocks?
are stocks with no value they almost always lose for the customer 99.9% of the time
Inside Sales people
are those who perform selling activities at the employer's location.
What happens when we interact with someone whose communication style is different?
communication style bias develops when we have contacted with another person whose communication style is different from our own
What are Business Development managers?
inside sales people what they do is they go out there and they start the relationship between themselves and a customer.
Platnium Rule
is at the heart of the style flexing strategy "Do unto others as they want done unto them"
What is partnering?
is defined as a strategically developed high quality, long term relationship that focuses on solving the customers buy problems
Adaptive selling
is defined as altering sales behaviors in order to improve communication with the customer
Self concept
is the bundle of facts, opinions, beliefs, and perceptions about yourself that are present in your life every moment of every day
The Marketing concept
is the principal that holds that achieving organisational goals depends on knowing the needs and wants of target markets and delivering the desired products
Style flexing
the deliberate attempt to adapt one's communication style to accommodate the needs of the other person
Symmetry of information
the information known by the seller about the product 's source , price and nature is also known by the buyers.
Outside Sales people
travel to meet customers or prospects in their place of business, or homes. These outside salespeople often hold what we call geographic or physical territory
Whats B2B? what is business to business sales?
when a business is selling to another business
Information Economy 1960-2020
• Major advances occur in Information technology • Strategic resource is Information • Business is defined by customer relationship • Sales success depends on adding value
Industrial Economy 1860-1960
• Major advances occur in manufacturing and transportation • Strategic resource are capital and natural resources • Business is define by its product and factories • Sales success depends on meeting sale quotas
