Term
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Definition
1. Prospecting
2. Pre approach
3. Approach
4. Presentation
5. Trial Close
6. Determine Objection
7. Meet Objection
8. Trial Close
9. Close
10. Follow-up |
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Term
| 4 Methods of Sales Presentation |
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Definition
1. Memorized (Canned)
-Assumes needs can be stimulated by direct exposure to product, or that they have already been stimulated.
-Sales person does 80-90 percent of talking
2. Formula (Persuasive)
-Salesperson follows a less structured
-Uses AIDA (Attention Interest, Desire, Action) procedure
3. Need Satisfaction Selling
-Designed to be flexible and interactive and is most challenging and creative
-First focuses on need development, awareness, and then fulfillment
4. Problem-Solution Method
-Salesperson conducts analysis, presents oral and written solution |
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Term
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Definition
| Example: Imagining the worst that can happen in a sales call, and making preparation to react to it |
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Term
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Definition
1. Opening with a statement
-introductory (your name and business)
-complimentary (compliment about business)
-referral (use another's name)
-premium (free samples and novelty items)
2. Opening with a demonstration
-Meant to capture attention, stimulate interest, and provide transition
3. Opening with one or more questions
4. Curiosity Approach (plays off curiosity)
5. Opinion Approach (asks for opinion)
6.Shock Approach (question designed to make them think seriously) |
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Term
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Definition
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Term
| 4 Basic Categories of Questions |
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Definition
1. Direct
-Close ended question that is usually answered with very few words
-Useful in directing customer to specific topic
2. Non-Directive
-who, what, where, when, how, why
3. Rephrasing
-restating as to clarify meaning and determine needs
4. Redirect questions
-used to redirect to points you both agree on. |
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Term
| 3 rules to asking questions |
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Definition
1. Only use questions you can anticipate answers to or that won't lead you into corner
2. always pause or wait to allow time for response
3. Listen |
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Term
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Definition
| The elements the salesperson assembles to sell to prospects and customer |
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Term
| 6 Elements of Better Communication |
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Definition
1. Use Questions
2. Be empathetic
3. Keep message simple
4. Create mutual trust
5. Listen
6. Positive Attitude and Enthusiasm
7. Being believable |
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Term
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Definition
Suggestive Proposition: Imply they should act now
Prestige Suggestion: Ask prospect to visualize using products that famous people, companies, or persons the prospects trusts use
Autosuggestion:Attempts to have prospect imagine themselves using product
Direct Suggestion: Used widely because it does not tell but suggests buying
Indirect Suggestion: Used when it is best to be indirect
Counter suggestion |
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Term
| Two of best ways to build your persuasive powers |
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Definition
1. Be honest
2. Do what you say you will do |
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Term
| Personality traits that help build trust |
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Definition
1. Caring for customers
2. Joy in your work
3. Harmony in relationships
4. Patience in closing the sale
5. Kindness to all you contact
6. Morally ethical
7. Faithful to your word
8. Fairness
9. Self Control |
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Term
| 4 ways to induce participation |
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Definition
1. questions
2. prpduct use
3. visuals
4. Demonstration |
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Term
| 4 Aspects of Successful Demonstration |
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Definition
1. Lets them do something simple
2. Lets them work with an important feature
3. LEts them do something routine or frequently repeated
4. Has the prospect answer questions throughout the demonstration |
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Term
| Reasons for using visual aids |
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Definition
1. Capture attention and interest
2. Create two way communication
3. Involve the prospect through participation
4. Afford a more complete, clear explanation of products
5. Increase salespersons persuasive power by obtaining positive comments |
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Term
| 6 Questions to ask when deciding what sales presentation ingredients to use |
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Definition
1. What is your objective
2. Who is your audience
3. How will you structure your prez
4. How will you create an impact
5. How will you design and display visual aids
6. How will you stage your presentation |
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Term
| 3 Main problems you will encounter in Sales presentations |
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Definition
1. Handling interruptions
-Step away if you think it is best, and regroup
-Return with things to regain interest and focus on positives you agreed upon
2. Discussing competition
-Do not do unless completely necessary, and be brief
-Make detailed comparison of products
3. Making presentation in less than ideal situation |
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Term
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Definition
| Opposition or resistance to information or to the salespersons request |
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Term
| Basic Points to consider aout objections |
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Definition
1. Plan for them
2. Anticipate and forestall
3. Handle objections as they arise
4. Be positive
5. Listen- hear them out
6. Understand them
7. Meet the objection |
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Term
2 broad categories of objections
2 types of objections |
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Definition
Hopeless- one that cannot be solved or answered
True: Can be answered and overcome
-Major
-Minor: Adress quickly and return to selling
Can Be:
Practical (overt)
-Price, not needed, delivery, etc
Psychological
-Resistance to spending money, predetermined beliefs, negative image of salespeople, etc |
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Term
| 6 Major categories of objections |
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Definition
Hidden Objection
-Not discuss true objections but hide them under trivial ones or veils
Stalling Objections
- I'll think it over or I need more time. Is this true or are they trying to get rid of you?
No-Need Objections
-Good product, but I'm not interested now
Money Objections
Product Objections
Source Objections
-relate loyalty to a present supplier or salesperson, or prospect does not like your company |
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Term
| Techniques for handling objections |
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Definition
1. Dodge
-neither denies, answers, or ignores.
2. Pass up
3. Rephrase as a question
4. Postpone
5. Boomerang
-Turning objection into benefit
6. Ask questions about objection
7. Directly deny
8. Indirectly deny
9. Compensate
10. Obtain a third party answer |
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Term
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Definition
Anything the prospect says or does indicating that they are ready to buy.
-Ask questions
-Ask others opinion
-Relax and become friendly
-Pill out purchase order form
-Carefully examine merchandise |
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Term
| Reasons a salesperson may not close |
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Definition
-Not confident in their ability to close
-Determined prospect does not need the merchandise (NOT YOUR JOB, buyers decision, always ask)
-Not enough time developing customer profile and benefit plan resulting in poor presentation that falls apart |
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Term
| Essentials of Closing a sale |
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Definition
-Be sure your prospect understand what you say
-Always present a complete story
-Tailor close to each prospect
-Consider customers point of view
-Never stop at first no
-Learn to recognize buying signals
-Trial close
-Ask for order then be silent
-Set high goals
-Develop and maintain positive, confident, enthusiastic attitude |
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Term
| 11 Common Closing techniques |
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Definition
Alternative Choice Close
-Not giving choice of whether or not to buy, but asks which one or how many do you want to buy
Assumptive Close
-Assumes they will buy, "I'll call in your order tonight"
Compliment Close
-Used on those who respond well to compliments
Summary of Benefit Close
-Summarizes benefits identified in that prez, get prospect to agree, then ask for order
Continuous Yes Close
-Series of benefit questions to get prospect agreeing
Minor Points Close
-Having prospect concede to several minor, low cost points such as delivery date, color, size, etc.
T Account or Balance Sheet close
-Spelling out, stating, or writing pros and cons showing that they lend towards this being a good decision
Standing room only close
-Letting them know that this offer might not always exist
probability close
- buyer asks for more time, you say ok if I were to call you back in a week what percentage chance you and I would be doing business
negotiation close
-Finding a way in which you ca both win
technology close |
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Term
| 6 Most Common Sales Mistakes |
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Definition
1. Tells instead of sells, doesn't ask enough question
2. Over controls the cal; too many close ended questions
3. Doesn't respond to customer needs with benefits
4. Doesn't recognize buyer needs, gives benefits prematurely
5. Doesn't recognize or handle negative attitudes effectively
-Makes weak closing statements; doesn;t recognize when or how to close |
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Term
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Definition
1. Ask questions to gather info and uncover needs
2. Recognize When a customer has a real need and how the benefits can satisfy it
3. Establish a balanced dialogue
4. Recognize and handle negative customer attitudes promptly and directly
5. Use a benefit summary and action plan requiring commitment when closing |
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Term
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Definition
Knowledge- HAivng the facts
Wisdom applying the facts in the correct way |
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Term
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Definition
| Relationship between a salesperson and a client that revolves around business related issues |
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Term
| 3 levels of relationships with business and personal friends |
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Definition
1. Acquaintance
-know names, see occasionally, know little about
2. Friends
-spend more time with, share common interests, know who they are and what they are about
3. Intimate Friends
-AKA best friends, know on a deeper level, know abou family, deepest thoughts, etc |
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Term
| Things that have to happen for people to become friends |
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Definition
1. Self disclosure
-Sharing a few things about yourself
2. Acknowledgment
-taking time to listen, repeat back, dont try to change or invalidate |
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Term
| Three levels of customer relationship marketing |
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Definition
Transaction Selling
-Sells to customers and does not contact again
Relationship Selling
-After the purchase, seller finds out if the customer is satisfied and has future needs
Partnering
-The seller works continually to improve the customers operations, sales, and profits |
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Term
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Definition
Creation of customer loyalty and retention using combination of products, prices, distribution, promotions, and service.
Organization has a targeted major customer that it would like to sell to now and in the future. |
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Term
| Several things expected when purchasing |
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Definition
Product has no defects
Price is fair value
Place- product is available when and where needed and promised
Promotion is correct, honest
exchange transaction handled correctly, quickly and professionally
After the sale waranty is honored, repairs or exchanges made cheerfully, written info or company avialable to discuss how to put together, or use product. |
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Term
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Definition
| Activities and programs the seller provides to make the relationship satisfying for the customer. |
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Term
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Definition
Working to contact people throughout the account, discussing your product.
-Total and major brand sales growth in an account
-Distribution of the numbre of products in a product line
-Level or cooperation obtained
-Reputation as the authority on your type of merchandise for the buyer. |
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Term
| 6 Factors to consider after landing an account |
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Definition
1. Concentrate on improving account penetration
2. Contact new accounts frequently and on regular schedule
3. Handle customer complaints promptly
4. Always do what you say you will do
5. Provide service you would to royalty
6. Show your appreciation |
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Term
| 4 Things to win back a customer |
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Definition
1. Visit and investigate
2. Be professional
3. Don't be unfriendly
4. Keep calling |
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Term
| Procedure to use in problem solving |
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Definition
1. Obtain as much relevant information from customer as possible
2. Express sincere regret for problem
3. Display a service attitude
4. Review sales record to make sure customer purchased merchandise from you
5. If customer is right, quickly and cheerfully handle complaint
6. Follow up to make sure customer is satisfied |
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Term
| 8 important points to be respected and viewed as professional |
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Definition
1. Be truthful and follow through
2. Maintain intimate knowledge of your firm, its products, and your industry
3. Speak well of others
4. Keep customer information confidential
5. Never take advantage of a customer
6. Be active in community affairs and help better community
7. Think of yourself as a professional and always act as one
8. Provide service above and beyond the call of duty |
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Term
| Most important traits that purchasing agents found in top business salespeople |
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Definition
1. Willingness to go to bat for buyer within suppliers firk
2. Thoroughness and follow through after sale
3. Knowledge of the firms product line
4. Market knowledge and willingness to keep buyer posted
5. Imagination in applying ones products to buyers needs
6. Knowledge of buyers product line
7. Preparation for sales calls
8. Regularity of sales calls
9. Diplomacy in dealing with operating depts
10. Technical education |
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Term
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Definition
| A Group of customers or a geographic area assigned to a salesperson |
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Term
| 7 reasons for establishing sales territories |
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Definition
1. Obtain Thorough coverage of the market
2. Establish each salespersons responsibilities
3. Evaluate performance
4. Improve Customer Relations
5. Reduce Sales Expense
6 Allow better matching of saleperson to customr needs
7. Benefit both salespeople and the company |
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Term
| Reasons for not developing sales territories |
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Definition
-Some salespeople more motivated if not restricted by a particular territory
-Company may be to small to be concerned with segmenting
-Mgmt may not want to take time or may not have know how
-Personal friendships may be the basis for attracting customers |
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Term
| steps to creating strategic plan for territory |
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Definition
1. Set goals or quotas
2. Analyze each prospect and customer to maximize chances of reaching goal
3. |
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Term
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Definition
| Sales person aims a single selling strategy at all accounts |
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Term
| 7 basic factors to consider in time allocation |
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Definition
1. Number of accounts in territory
2. Number of sales calls made on customers
3. Time required for each sales call
4. Frequency of customer sales calls
5. Travel time around the territory
6. Non selling time
7. Return on time invested |
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Term
| Frequency in calls increases as these 4 factors increase |
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Definition
1. sales and or potential future sales
2. Number of orders placed in a year
3. Number of product lines sold
4. Complexity |
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Term
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Definition
| Relationship of sales volume to sales calls |
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Term
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Definition
| Quantitative technique for determining the level of sales at which total revenues equal total cost |
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Term
| Strict, formal routing of travel allows companies to |
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Definition
1. Improve territory coverage
2. Minimalize wasted time
3. Establish communication between mgmt and sales force in terms of the location and activities of individual salespeople. |
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Term
| How to use telephones effectively |
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Definition
1. Satisfy part of the service needs of accounts by telephone
2. Assign smaller accounts that contribute less than 5 percent of business to mostly telephone selling
3. Do prospecting, marketing data gathering, and call scheduling by telephone
4. Carefully schedule personal calls to distant accounts |
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