illusions of sales
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Illusions ofSales
Trainer:
Vishal Srivastava, (MBA, Ph. D.*)
Prof.-Marketing
Trainer & Sales Consultant,
Mob. 9971019163,
srivastava.vishalmba@gmail.com
www.profsri.web.officelive.com
11Vishal Srivastava (Prof.-Mktg), Trainer & Sales
mailto:srivastava.vishalmba@gmail.comhttp://www.profsri.web.officelive.com/http://www.profsri.web.officelive.com/mailto:srivastava.vishalmba@gmail.com -
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Why do Salespeople fail?
F 82% of all sales people fail to differentiate themselvesor their products from the competition.
F 86% of all salespeople ask the wrong questions andmiss sales opportunities.
F 62% of all salespeople fail to earn the right to ask forcommitment.
F 82% of salespeople discount price to earn a sale.
Statistics based on research conducted by The Sales Board. Over 16,000 customers and 300 salespeople
in 25 industries were studied. 22Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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33Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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What Do You Say to That?
Suppose you had juststarted your new job as asales rep. During your
very first sales call, yourprospect informs you Imhappy with my current
supplier. On your nextsales call, the customertells you Im not sure Ican afford your productright now. How would 44Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Im Not Buying What YoureSelling
SAURABHis an experiencedsales rep calling on VIVEKaprospect for the first time.Even though VIVEKhas notsaid anything negative aboutSAURABHs product or
verbally raised any concerns,SAURABH suspects (andcorrectly so) that VIVEKhas
some apprehension or 55Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Lucky Guess or What?
RASHMI is a salesrep calling on RITUfor the first time.
During thepresentation, RITUbrings up a concernof hers regarding s
RASHMIS product.RASHMI hadanticipated this mighthappen and, as aresult, she dealt with66Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Sales Illusions
Actually what we listen or see is only areflection of unstated objection.
What we see is only a tip of Ice-berg.
The avoidance/ ignorance shields thelack of knowledge.
77Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Screen the. NONonverbal Signs and Cues from aCustomer 88Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
L k f t t bbi b k f k d
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Lack of eye contact, rubbing back of neck, arms crossed,looking at watch, playing with
Leaning forward, sitting up straight, good eyecontact, smile, head nod, raised eyebrows, inthought as evidenced by
99Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Buying Behavior
Yes
Yes
Yes
Yes
Yes
Yes
Sale
NO
NO
NO
NO
NO
NO
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Converting No to ON
NO1111
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How?Click to edit Master text stylesSecond level
Third level Fourth level
Fifth level
Right Attitude
Anticipation
Care
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Objections
Objection ?
his I
Want
This I amnot Getting
ThisOthers
Do Well
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Developing a proper attitudeabout objections (concerns) -
q Expect them
- They are a normal part of selling (almost alwayshappen)
- Natural thing for most buyers (fearful of making abuying mistake)
q Welcome them (positive aspects of objections)
- Show prospect is thinking
-
Gives Direction to wards Sale (NO=ON)- Alert about weaknesses in your approach (e.g.
probing, presenting selling points, etc.)
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Developing a proper attitudeabout objections (concerns) -
q Dont take them personally
- They are concerns about your product, not about you .
View them as making your job more interesting,to enhance your ability.
q They ARE important to the customer (and hence to you)
- Need to be clarified (not always obvious)
- Need to be addressed properly
- It Helps in Taking Buying Decision
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Caution for the salesperson1. Identify or uncover not-always-obvious real
objections (versus excuses), by recognizingand understanding verbal and nonverbal clues
1. Avoid being argumentative
- the salesperson always loses an argumentwith a customer
- control your emotions no matter what
customer says (remember response ability,adult ego state, etc.)
- try to find points of agreement
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Cont.
3. blame yourself/ blame it on the situation
- let them know their initial reaction iscommon
4. Recognize when to handle objections
can vary depending on situation In advance
- anticipate it, so present counterargument first
At the time they arise so customerwont:
- question your credibility
- think you dont have answers 1717Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Remember..5. Listen, restate (clarify), handle means
you . . .
dont deal with wrong objection
Will please customer by listening andunderstanding
Can soften the objection somewhat(but not too much)
Can buy some time to respond
6. Try to be flexible
-
Not always just 1 solution to a problem-
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Anticipation of Objection
objections (i.e. keep track of, write down)through information obtained from:
1. Other customers
1. Fellow salespeople
1. Analyzing the competition
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HandlingObjections
Step I: Listen Carefully
Body Language
Short Statement
Desired Facial Expressions
Step II: Clarify Your Understanding
Paraphrasing
Step III: Motivate/ Support the customer Appreciation / Sympathy
2020Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Cont.
Step IV: Handle the Concern Appropriate Approach
Step V: Reinforce Appreciations Agreement/ Forwarding
Step VI: Closing with asking ofSale Objection, Repeat form 1st Step
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Specific Approaches forHandling Objections
1. Direct denial
2. Indirect denial (feel felt foundapproach)
3. Boomerang or reversal
4. Respond with question(s)
5. Compensation (advtg/disadvtg,
benefit/cost)
6. Benefit offer
7. Third-party testimonial2222
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Direct Denial
Pointing out in an immediate,straightforward way the concern is NOT true(serious and inaccurate)
Use with care and tact; dont be offensive,arrogant (a know it all)Example:
Concern: I heard your product killed a
guys beans last year.Response: Where did you hear that?
That just isnt true. I dont know how thatrumor got started, but I appreciate theopportunity to set the record straight.
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Indirect Denial
Acknowledge concern, admit some truthNote concern is common initially before using, but notusually after using
Example:
Concern: I am a little concerned about the resalepotential of this.
Response: (feel, felt, found)
I can certainly understand why you might feel thatway.
the customer at your other location, felt the sameway before he ordered our product.
But he found, after purchasing our product, that ourproduct sold very well, even out performing some of hisbest other products.
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Boomerang or Reversal
Try to turn the concern into a selling point
Agree the prospect has a good point andshow them a related good reason to dobusiness with you.
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Boomerang or Reversal
Example:
Concern: I prefer to buy from a locally-owned business.
Response:
I appreciate your desire to do business locally. Thats actually areason to do business with us. While its true we are part of anational organization, the people youll be doing business with liveand work here in your local community. Their salaries and taxdollars end up back in the local community. Being part of a national
company gives us the ability to have top-notch technical support toback up our services and field specialists. We think we can offeryou the best of both possible worlds-localized management andemployees associated with a local business together with bettertechnical assistance and support that a national company canprovide.
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Cant afford it right nowconcern responses:
I understand your financial situation is tight, butthat is why you should buy today so you can startsaving the money we talked about.
That is exactly why you need the product rightnow, because it will earn you enough profit to payfor itself and even have some money left over.
Thats a very good concern, and because money istight you can really benefit from our financing
program that will allow you to buy now with little orno money down so you wont need to delayreceiving the benefits of our product.
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Respond With Question(s)
Try to clarify and soften the concern
Try to figure out what it would take to overcome theconcern
Example:
Concern: This model seems too big.
Response:
Sounds like you are worried about the size of thismachine?
What specifically about the size of this machinebothers you storage, using it, or something else?
If I could show you that using a machine of thissize is no more difficult than using smaller machines,can we do business?
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Compensation
Acknowledge prospect has valid point (likelywill appreciate your honesty)
Point out most products have +s and s(builds your credibility)
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Compensation
Example:
Concern:
Im not sure that your yield ratings are the best.
Response:
I agree that our products yield ratings arent numberone, but they are close.
However, we also arent as expensive as those othertop-yielding products.
We feel that the money you save on price will actuallyoffset the slightly lower yields you might obtain.
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Benefit Offer
Offer the prospect something (i.e. a benefit) thatdeals with the concern
The benefit should outweigh the concern
Offers can relate to:
Trial offers
Guarantees
Delivery
Service after the sale
Warranties
What you the salesperson will do
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Benefit OfferExample:
Concern:
Your product sounds pretty good, but to tell youthe truth, Im quite happy with my current supplier.
Response:
I understand that. I appreciate your desire to beloyal. I would hope that if Im able to show you the
benefits of our product that youd be loyal to me andour product too. Most customers did businesssomewhere else before they started using their currentproduct. Could I get you to try a trial run of ourproduct where you just give me part of yourbusiness? . . .
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Third Party Testimonial
Using a third party to deal with theconcern
Third parties could include:
Other current satisfied customers
Support staff
Specialists outside your companyNeed to have arranged in advance forthird party willingness
3333Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Third Party Testimonial
Example:
Concern:
Im quite concerned about the negative
aspects of maintenance.Response:
I dont think maintenance should be a
major concern. How about if I have one ofour technical support specialists come outand provide you with more detailedinformation on our maintenance and repairrecords.
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Ten Things to Say or DoWhen a ProspectiveCustomer Says No1. Clarify the No
"Is that no right now, no forever, or no Idon't like you?
2. Identify the No."Most people say no to thisproduct/service at first. Would you tell mewhich part you are saying no to?
3. Accept the No.
"I understand completely. It worththinking about first.
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4. Keep talking/listening."I accept your No, Bob. But can we discuss it/keeptalking about you?
5.
Ask a thinking question."Would you tell me where you want to be financiallyin 10 years, ?
6. Ask an empathy question."Is it the price, Sir?
7. Ask a trick question."If I can completely resolve your concerns about thisproduct/service, would you be inclined to buy?
8. Ask for permission to ask again."OK, sir, I hear you. Will you give me the option ofletting you know of any news regarding thisproduct/service over the course of the next12months?"
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9. Get some other energy in there.
Sir, would you find it helpful if Iasked a happy customer of minecall you this week to shareTHEIR experience of this
product/service? They won't sellyou; but you can ask anyquestion of him/her.
10. Get permission to keep intouch.May I send you my quarterly
newsletter for a year 3737Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant
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Sales Quotes: Objections
Anything that smacks of pressure causes animmediate increase in the prospectsresistance. Thats why todays selling techniquesare more relaxed aimed at avoiding resistance orkeeping it to an absolute minimum. Experienced
salespeople have found that a soft-spoken,knowledgeable, quietly confidentapproach produces more sales and morerepeat business than fast-talking, high-pressure tactics ever did. Low-pressureselling is based on a sincere desire to be of
service
(Sales Upbeat, 2/3/94)
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Sales Quotes: Objections
You have not converted a man because you havesilenced him. (John Morley, Sales Upbeat, 3/30/95)
The joy of winning and the rewards of winning
are in proportion to the difficulty of winning.One of the major difficulty factors in selling isrejection. If you never experience rejection,you will never experience or appreciate the
victories.(Lloyd Allard, Personal Selling Power, 11/92)
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References
Action Selling, The Team Approach
Playing with Perspective, JasonAnderson, Professor Marc Levoy
Objections and Closing the Sale L8,Brian Rutherford
Hite and JohnstonLloyd Allard,Personal Selling Power, 11/92
John Morley, Sales Upbeat, 3/30/95
Effective Sellin Skills For The Consumers FirstVishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant 4040
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Thank-you
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