illusions of sales

8/8/2019 Illusions of Sales

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Illusions ofSales

Trainer:

Vishal Srivastava, (MBA, Ph. D.*)

Prof.-Marketing

Trainer & Sales Consultant,

Mob. 9971019163,

[email protected]

www.profsri.web.officelive.com

11Vishal Srivastava (Prof.-Mktg), Trainer & Sales
mailto:[email protected]://www.profsri.web.officelive.com/http://www.profsri.web.officelive.com/mailto:[email protected]


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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.



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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



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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

Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant


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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



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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

Vishal Srivastava (Prof.-Mktg), Trainer & Sales Consultant


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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



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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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illusions of sales

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