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Summarize the sales process

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Presentation on theme: "Summarize the sales process"— Presentation transcript:

1 Summarize the sales process

2 Steps Of The Sale Approach the customer Determine needs
Determine what the customer wants and needs. Present the product Choose the appropriate product and educate the customer about the features and benefits.

3 Steps Of The Sale cont. Overcome objections Close the sale
Determine why the customer is hesitant to buy Convey information that will remove uncertainty. Close the sale Get the customers agreement to buy.

4 Steps Of The Sale cont. Suggestion sell Build relationships
Identify additional goods or services that will help the customer better enjoy the product. Build relationships Maintain contact with customers after the sale is complete.

5 The approach is… The first encounter with a potential customer
The initial approach depends on prior encounters with the customer. With existing customers, the sales associate may comment on families, hobbies, or vacations. With new customers the salesperson could engage in small talk to develop a relationship with the customer.

6 Four approaches can be used during the initial approach.
Service approach Greeting approach Merchandise approach Combination approach

7 Service Approach The salesperson asks the customer if they need help.
For example, “May I help you find something today?” This approach is most effective when the customer is in a hurry or when taking routine orders such as fast food.

8 Greeting Approach The salesperson welcomes the customer to the store.
For example, “Good morning”, or “Welcome to Cici’s!” The salesperson should be upbeat, friendly, and smile.

9 Merchandise Approach The salesperson comments on the product the customer is interested in. This approach is effective only if the customer is looking at something specific. The salesperson comments on the product’s features and benefits. For example, “That video game is rated E for everyone, which means it does not contain harsh language or violence.” This approach is most effective in retail sales because it focuses on the product.

10 Combination Approach The salesperson uses two or three of the service, greeting, or merchandise approaches. For example, “Hello, welcome to Hollister. We have a great sale on jeans today. May I help you find your size?”

11 How to determine consumer needs
Determine customer’s reasons for buying The salesperson should focus on determining the customer’s needs as early as possible. Observing Listening Questioning and Engaging

12 Methods For Determining Needs
Observing - Look for nonverbal communication clues that indicate the customer’s interest in the product. For example, hand motions, facial expressions, or eye movements. Listening - Helps pick up clues to the customer’s needs.

13 Questioning and engaging the customer
Ask questions about how the customer wants to use the product or if the customer has any previous experience. Ask questions such as who, what, when, where, why, and how. Once needs are determined, the salesperson can ask more specific, open-ended questions, which cannot be answered with a simple yes or no.

14 Product presentation time!
The first decision in product presentation is what product(s) to show the customer After determining how the customer plans to use the product Show the customer no more than three products at a time to avoid confusion If the customer wants to see more, remove the products for which the customer no longer has an interest.

15 Product presentation time!
Show a medium-priced product when the customer’s price range is not known Price should not be introduced early in the presentation The salesperson needs to prove how valuable the product will be to the customer. When talking to the customer, highlight the features and benefits that match customer’s buying motives and needs Use descriptive adjectives and action verbs; avoid unclear words, such as nice, pretty, and fine.

16 Effective Product Presentation
Display and handle the product Handle the product appropriately Use hand gestures to show the significant features of the product. Demonstrate the product Help boost customer confidence by showing them the proper use of the product.

17 Effective Product Presentation
Use sales aids Samples, audiovisuals, models, photographs, and customer testimonials are a few examples of sales aids A salesperson should be creative in deciding which aids to use. Involve the customer It is important to physically engage the customer in the product demonstration as soon as possible.

18 Effective Product Presentation
Hold the customer’s attention Involving the customer in the sale helps the person to make an intelligent buying decision If the salesperson is losing the customer’s attention, he/she should ask open-ended, probing questions to make sure the customer is following the demonstration

19 Buying Objections Objection - A legitimate reason, doubt, or hesitation a customer has for not making a purchase. Excuse - A reason a customer will not buy or speak to a salesperson Excuses are used when customers are not interested in buying or when they are hiding other objections In retail situations, remain polite and suggest the customer look around In B2B situations, simply leave a business card.

20 Objections may be based on one or a combination of:
Need - Urgency for the product For example, the customer says, “I do not need a new bathing suit.” Product - Design, ease of use, quality, color, size, or style For example, the customer says, “You do not have my size.”

21 Objections may be based on one or a combination of:
Source - Related to past experiences with the company or product For example, the customer says, “The last time I bought a Speedo, it did not last more than one season.” Price - Most common with expensive products For example, the customer says, “That is more than I am willing to pay.”

22 Objections may be based on one or a combination of:
Time - Customers are leery about making a purchase “on the spot” Objections based on time are often excuses For example, the customer says, “I am not ready to buy a new bathing suit now.”

23 Procedures For Handling An Objection
Listen carefully. Acknowledge the objection. Restate the objection. Answer the objection.

24 Methods to handle objections
Substitution Boomerang Question Superior-point Denial Demonstration Third party

25 Methods to handle objections
Substitution Boomerang Identify another product that would satisfy the customers’ needs For example, the customer says “The last time I used a twin blade razor, it cut my face.” The salesperson’s response could be, “Try the new four blade razor with enhanced microfins.” Bring the objection back to the customer as a selling point With this method, be careful not to sound condescending to the customer For example, the customer may object because they had a bad experience with a product in the past. The salesperson could respond with, “I’m sorry you had a bad experience before; however, our products have been reformatted based on customer feedback.”

26 Methods to handle objections
Question Superior-Point Ask the customer questions to learn more about the objection For example, if the customer objects with, “I don’t see the need for fabric protection.” The salesperson can respond with, “Do you have small children?” Offset the customer objections with the product’s features and benefits For example, the customer objects about price. The salesperson can respond with, “Yes this television is more expensive; it is our top of the line model. You will think you’re in a theater when you watch it and the sound is incredible.”

27 Methods to handle objections
Denial Demonstration The customer’s objection is based on misinformation This method is often in the form of a question For example, the customer says, “Are you sure these shoes will fit me? I have wide feet.” The salesperson can respond with, “Yes, these shoes are made with a durable, elastic fabric that contours to anyone’s foot.” “Seeing is believing.” For example, allowing the customer to try to manipulate the product himself or herself, or giving the customer a sample to try

28 Methods to handle objections
Third Party Uses customer or celebrity testimonials For example, showing the customer advertisements featuring famous celebrities or sharing positive feedback from customers who have used the product.

29 How To Close The Sale Time The Close
Closing a sale - Initiating and obtaining an agreement from the customer to purchase a product. Look for buying signals - What a customer says or does to indicate he/she is ready to buy For example, watch for facial expressions, body language, and listen to comments. Trial close - Test the readiness of the customer to buy For example, “Is this a gift for someone? May I take this to the counter for you?”

30 Rules For Closing The Sale
Recognize closing opportunities For example, the customer reaches for his/her wallet. Help customers make decisions For example, the customer may need help deciding between two colors for a picture frame. Create ownership mentality For example, use words such as “you” and “your” to convey ownership. “You will enjoy driving this car on family vacations.” Do not talk too much or rush the customer

31 Methods for closing the sale
Which Standing-room only Direct Service

32 Methods For Closing The Sale
Which - Suggest the customer choose between two items For example, “Which do you prefer, the blue or the red?” Standing-room only - Used when there is a limited number of products in stock or when the price is expected to go up For example, “I’m glad you like this make and model, though I can’t promise it will be available if you come back tomorrow. Our sale ends at midnight.”

33 Methods For Closing The Sale
Direct - Asking for the sale. This method is most effective when the buying signals are very strong For example, “Ok ladies, based on what I’ve shown you today, what would you like to take home with you?” Service - Works best when handling obstacles or dilemmas The salesperson should explain the services available that would solve the problem For example, “Our products are backed by a 100%, money back guarantee. If you are not completely satisfied, simply return it.” If the close does not result in a sale, the salesperson should get feedback from the customer as to why he/she decided not to make a purchase. This is a learning experience.

34 Suggestion selling is…
Selling complimentary or additional goods or services to the customer that would make the original purchase more enjoyable. The salesperson, customer, and company benefit from suggestion selling

35 Rules For Suggestion Selling
Suggestion sell after the customer has made a commitment to buy, and before payment is made. Make recommendations from the customer’s point of view and explain the recommendation. Make the suggestion specific. Allow the customer to see the item being suggested. The suggestion should be helpful.

36 Suggestion Selling Methods
Cross selling - Offering related merchandise For example, the customer has committed to buying a pair of sneakers. The salesperson should suggest shoe cleaner Upselling - Recommending larger quantities of merchandise at a lower price This method is most effective when the retail customer is purchasing inexpensive items, or when a B2B customer can take advantage of lower prices or special deals. Special sales opportunities - The salesperson is obligated to inform the customer of special sales In retail, customers appreciate knowing when to expect new merchandise. In B2B, show customers new products that are or will be available

37 How to maintain a relationship with the customer
Order processing Departure Order fulfillment Follow-up Customer service Keeping a client file Evaluate sales efforts

38 After-sales Activities
Order processing In retail, bag the customer’s merchandise with speed and care In B2B, complete necessary paperwork and leave a business card. Departure Reassure the customer they have made the right decision Restate proper care and use instructions Always thank the customer regardless of the outcome.

39 After-sales Activities
Order fulfillment. In a retail situation, the customer pays for the product and takes it home. In an e-commerce, mail order, or telemarketing situation: The desired product is chosen by the customer. The customer’s payment is processed. The product is packaged. The order is shipped according to the customer’s specifications Order fulfillment may also include customer service, returns and refunds or exchanges, and technical support.

40 After-sales Activities
Follow-up Involves following through on the promises made during the sale It also means checking up to ensure the customer is satisfied with his or her purchase. Customer service Most businesses have customer service departments to handle customer inquiries and complaints The main goal is customer satisfaction.

41 After-sales Activities
Keeping a client file Record useful information regarding the customer and his/her purchases For example, in retail, record the customer’s size, style, name, and address. In B2B, record family status, hobbies, and birthdays. Evaluate sales efforts Complete a self-evaluation after the sale. Review the following: What were the strong points of the presentation? What was done incorrectly or ineffectively? How can the presentation be improved? What should be done differently? If the sale was successful, what can be done to solidify the relationship?

42 Customer Relationship Management (CRM)
Managing detailed information about individual customers and carefully managing customer preferences (or touch points) in order to maximize customer loyalty CRM helps companies maintain and strengthen relationships.

43 Customer Relationship Management
Implement technology and CRM Firms can purchase customized software or subscribe to online services to help provide better customer service and track data For example, Maintain contacts Salespeople can act as consultants to customers, offering solutions to problems For example, being on hand to answer questions from the client and/or being able to walk the client through proper use of the product. Maintain relationships Provide customers with personalized service For example, AAA can plan vacations for its members at the member’s request.

44 Customer Relationship Management
Develop customer loyalty Keep customers happy, not only during the sale, but after as well in preparation for future sales For example, keep customers aware of new products or upcoming events through or direct mail. Implement rewards programs Reward customers who patronize the business on a regular basis For example, frequent flyer programs or offer a free gift with purchase.

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