Vlerick Business School THE SALES PROCESS ADAPTIVE SELLING

Vlerick Business School THE SALES PROCESS ADAPTIVE SELLING Adaptive selling entails: Gathering information about each customer Observing customers reactions during the sales call Showing agility by making rapid adjustments Tailoring the sales presentation to each customers social style Vlerick Business School THE KEY TO UNDERSTANDING SOCIAL STYLES

Assertiveness Responsiveness Competitive Friendly Rapid movers Talkative Quick decision makers Approachable

Initiative takers Less time sensitive Time sensitive Slower decision makers More sensitive to others feelings Vlerick Business School 5 SOCIAL STYLES MATRIX Analytical

Low Driver Driver RESPONSIVENESS What I need are practical suggestions Industrious Persistent Serious Vigilant Orderly Show Show me

me bottom bottom line line results results Determined Determined Demanding Demanding Thorough Thorough Decisive Decisive Efficient Efficient Amiable Amiable

Expressive Expressive Show Show concern concern for for me me and and my my High problems problems Supportive

Supportive Respectful Respectful Willing Willing Dependable Dependable Personable Personable I I like like competent, competent, imaginative imaginative salespeople salespeople

Personable Personable Stimulating Stimulating Enthusiastic Enthusiastic Dramatic Dramatic Inspiring Inspiring Low ASSERTIVENESS | Vlerick Business School

High PERCEIVED RISK In many sales situations, the most important perception to be dealt with is risk Salespeople must provide evidence that their solutions will work, reducing perceived risk Vlerick Business School 7 TYPES OF RISK IN PURCHASING DECISIONS Financial

Social Psychological Performance | Vlerick Business School STEPS IN THE SALES PROCESS 1. Lead Generation 2. Lead qualification 3. Needs Identification: SPIN Selling Situation

Problem Implication Need Payoff 4. Feature/Benefit Presentation 5. Marketing Plan and Business Proposal 6. Close 7. Objection Handling Vlerick Business School

8 LEAD GENERATION Pre-approach The search for people and organizations that have a high likelihood of buying Prospecting Identifying and qualifying the specific people who might have a want or need that the salespersons market offerings could satisfy Vlerick Business School THE IMPORTANCE OF PROSPECTING WITH

EXISTING CUSTOMERS Existing customers can switch suppliers if current service is not up to par Existing customers are being called on by competitive salespeople who are always presenting new information It is much less expensive to call on existing customers than to find new ones Existing clients are often the best source of new customers Vlerick Business School PROSPECTING TECHNIQUES Identification

Qualification Three Categories Internal sources of prospects Prospects found by market intelligence Prospects generated by specific actions Vlerick Business School DEVELOPING A LEAD GENERATION PROGRAM

Market segmentation Lead generation Direct-mail Telephone selling Personal visits Buying customer lists Using EAGLES Vlerick Business School TURNING SUSPECTS INTO BONA FIDE PROSPECTS Identify MAD Customers Money to Buy

Authority to Buy Desire to Buy Vlerick Business School FIRST IMPRESSION You have only one chance to make a favorable first impression Your looks Your actions Your manner of speaking Salespeople must be conscious of the communication signals they are sending Visual Vocal

Verbal/Non-verbal Vlerick Business School Three Vs COURTESY AND COMMON SENSE Ask permission to sit Never clutter the prospects desk or floor without asking his/her permission Watch the tone of your voice Always be courteous but not overly friendly or pushy Never be presumptuous Vlerick Business School

OPENING THE PRESENTATION What makes some salespeople standout? The best sales professionals know: How to emphasize benefits in their presentations That the most effective presentations must start and finish with the prospects needs and wants as the focus A key question for salespeople as they endeavor to maintain their competitive position is to ask, What could make the customer more delighted? Vlerick Business School PLANNING PRESENTATION OPENERS Openers are introductions

All sales presentations need effective and brief introductions Salespeople must, in the opener, introduce themselves, the company, and the reason for calling on the prospect Show the prospect that you are aware of his/her situation and that you have a product that can help An effective opening statement is essential to get the prospects attention Salespeople sometimes find that a minute or two of friendly conversation relaxes prospects and makes for an effective opening strategy (rapport building) Vlerick Business School PROSPECT BENEFITS Selling benefits is what the sales presentation is

all about To use a benefit opener effectively You must learn as much about the prospect as possible You must know that the prospect can benefit from your product in the way you describe Vlerick Business School OTHER TYPES OF OPENERS Benefits Third Party referral (AKA- Name dropping) Sincere compliment Which will be best for the different social styles?

Vlerick Business School TRIAL CLOSING Trial closing is a process that helps you find out where a person is in the commitment to buy The goal of the questions is to receive a 'Yes' commitment to move forward in the sale The easiest way to formulate a trial close question is by using an 'If/Then' scenario Vlerick Business School STEPS IN THE SALES PROCESS 1. Lead Generation 2. Lead qualification

3. Needs Identification: SPIN Selling Situation Problem Implication Need Payoff

4. Feature/Benefit Presentation 5. Marketing Plan and Business Proposal 6. Close 7. Objection Handling Vlerick Business School 21 THE SPIN QUESTIONING STRATEGY Situation Questions Achieve fact-finding objectives Have low selling impact Useful at focus of receptivity Problem Questions Achieve uncovering satisfaction objectives

Have moderate selling impact Useful at focus of dissatisfaction Implication Questions Achieve objectives of developing and channeling dissatisfaction Have high selling impact Useful at focus of dissatisfaction and focus of power Need-payoff Questions Achieve objectives of rehearsing and selectively channeling customer attention Have high selling impact Useful at focus of dissatisfaction and focus of power Vlerick Business School RESPONDING TO TOUGH QUESTIONS

When your prospect asks you tough questions at this stage, you should: Restate the question Ask What do you think? What makes you ask? Start with a general reply Dont fake it You must listen to be able to respond! Vlerick Business School EFFECTIVE LISTENING

Effective listening consists of three discrete stages in the listening process: 1. Sensing The actual receipt of messages 2. Processing Activities that occur in the mind of the listener 3. Responding Acknowledgement of the receipt of the message Vlerick Business School STEPS IN THE SALES PROCESS 1. Lead Generation 2. Lead qualification

3. Needs Identification: SPIN Selling Situation Problem Implication Need Payoff

4. Feature/Benefit Presentation 5. Marketing Plan and Business Proposal 6. Close 7. Objection Handling Vlerick Business School 25 SOLUTION SELLING Solution selling is the stage at which the salesperson Assumes a knowledgeable role Begins to earn the right to be an advisor to the prospect Customizes her presentation of product features and benefits to the prospects specific needs and

wants Vlerick Business School V = Q/P The value of a delivered product or service increases as the quality of that product/service increases or the price of that product/service declines V = Value, Q = Quality, and P = Price Vlerick Business School VALUE-ADDED SELLING ATTITUDES Pursue excellence Define value in customer terms

Seek ways to add value, not cost Sell to the customers needs, not against the competitions package Seek ways to deliver proactive value-added service Value-added selling is a team effort Responsiveness to the customer is at the heart of value-added selling Vlerick Business School SELL BENEFITS NOT FEATURES Deal only in facts Sell the prospect results What the product will do--not what it is! Vlerick Business School

CHECK THE PROSPECTS TEMPERATURE Trial closing is like taking the temperature of the buyers interest The temperature question or trial close is not a closing question The salesperson is not asking for a decision to buy Avoid asking closed-ended questions Vlerick Business School YOUR MISSION Ask as many open-ended questions as possible

Who What When Where How Why Vlerick Business School STEPS IN THE SALES PROCESS 1. Lead Generation 2. Lead qualification 3. Needs Identification: SPIN Selling Situation

Problem Implication Need Payoff 4. Feature/Benefit Presentation 5. Marketing Plan and Business Proposal 6. Close 7. Objection Handling

Vlerick Business School 32 MARKETING PLAN Vlerick Business School BUSINESS PROPOSAL Vlerick Business School GAINING CONVICTION To successfully perform the conviction step the salesperson should be sure to: Explain what the product or service is and how

it works Explain the facts and features and their related benefits Establish the prospect's belief in the salesperson by presenting evidence Explain any related information that the prospect would like to know Vlerick Business School TRIAL CLOSE After answering all the prospect's questions and concerns, it is time to trial close again The salesperson can ask the prospect any of the following questions: What do you think?" "How does all of this sound?"

"How do you feel about what Ive said so far?" Vlerick Business School OUTCOMES OF A PRESENTATION Regardless of the outcome of any one sales presentation, there is more work to be done A prospect buys and becomes a customer A customer buys again (rebuy situation) A customer or prospect makes no purchase but requests additional information A prospect expresses no interest in working with the salesperson's company Vlerick Business School

STEPS IN THE SALES PROCESS 1. Lead Generation 2. Lead qualification 3. Needs Identification: SPIN Selling Situation Problem Implication

Need Payoff 4. Feature/Benefit Presentation 5. Marketing Plan and Business Proposal 6. Close 7. Objection Handling Vlerick Business School 38 HANDLING OBJECTIONS Effective salespeople are able to: Anticipate objections Answer them with confidence

Probe for more concerns Quickly get back to motivating the prospect/customer to make a decision in favor of purchasing Vlerick Business School VALUE IMPROVEMENTS Value improvements can be anything that will help prospects see that their overall situation can be improved through the purchase of a product or service Vlerick Business School OVERCOMING OBJECTIONS

The salespersons formula for handling objections has five parts: 1. Listen very carefully to the prospect's objection 2. Clarify the concern 3. Cushion the objection 4. Classify the objection to determine when and how to answer it 5. Answer the objection with concern, conviction, and enthusiasm Vlerick Business School CLASSIC OBJECTION-HANDLING TECHNIQUES

Forestall the objection Compensate Feel, felt, found Vlerick Business School STEPS IN THE SALES PROCESS 1. Lead Generation 2. Lead qualification 3. Needs Identification: SPIN Selling Situation

Problem Implication Need Payoff 4. Feature/Benefit Presentation 5. Marketing Plan and Business Proposal 6. Close 7. Objection Handling Vlerick Business School 43

EMPLOYING CLOSING TECHNIQUES Why should salespeople employ closing techniques? Many prospects find it difficult to make decisions Prospects want to make the right decisions, but complete certainty in buying never exists Many prospects will postpone decisions if salespeople let them After a sales presentation, prospects often feel confused and hesitant The salespersons goal is to explain/demonstrate how the benefits of the product or service outweigh the risks associated with buying

Vlerick Business School TRADITIONAL CLOSING TECHNIQUES Assumptive Close Summarizing the Benefits Reserving an Advantage Single Benefit Close Similar Situation Close Price Reduction Close Asking for a Trial Order Vlerick Business School IF A SALE IS MADE

Before leaving a customer who has agreed to a sale: Show appreciation for the customer's business, but do not gloat Reassure the customer that the decision is a good one Solicit sales leads Complete all necessary paperwork, and finalize the details Be sure to leave with a good understanding of the customer's expectations Vlerick Business School IF A SALE IS NOT MADE When a sale is not made, the salesperson still

has duties to perform: Duties to the customer Duties to the sales organization Vlerick Business School THANK YOU! [email protected]

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