Personal Selling Process Personal Selling Process

Face-to-Face interaction Persuasion Flexibility Promotion of sales Supply of Information Mutual Benefit Personal Selling

o Goals range from: ofinding prospects oconvincing prospects to buy okeeping customers satisfied--help them pass the word along Nature of Personal Selling

o Goal of the process is to find new customers and sell them something o Salespeople spend their time oMaintaining existing accounts oBuilding long-term customer relationships Personal Selling Process

Steps involved in Personal Selling Process ProspectingPre- approachApproachNeed AssessmentPresentationMeeting objections Gaining commitments Follow -up

o Finding new oPeople who recognize their needs and are ready to buy o Two steps oIdentifying leads oQualifying leads Prospecting

Identifying leads/potential customers oReferrals from customers oReferrals from internal company sources oReferrals from external referral agencies oPublished directories oNetworking by salespersons oCold canvassing Identifying leads/potential customers oReferrals from customers oReferrals from internal company sources oReferrals from external referral agencies oPublished directories oNetworking by salespersons oCold canvassing Qualifying leads-Identifying those who are most likely to buy Three criteria oNeed for the product oCan afford to buy product oCustomer is receptive to be called upon by salesperson Qualifying leads-Identifying those who are most likely to buy Three criteria oNeed for the product oCan afford to buy product oCustomer is receptive to be called upon by salesperson

1. Customer research o Information gathering about size, purchasing practices o Companies’ databases o Chamber of commerce o Newspaper articles Pre-Approach-Planning the sale

2. Planning sales presentation oUse information gathered in pre call customer research oPlan how to approach the questions buyer may ask Pre-Approach-Planning the sale

o Appointment to see buyer o To gain prospects’ attention, stimulates interest & make transition to presentation o Can make or break entire presentation oFirst impression is last impression o At the end salesperson must gain buyer’s agreement to move into need assessment stage Approach

o Deals with discovering, clarifying and understanding buyer’s needs and wants o Best way is to ask questions oSituational questions oProblem discovery questions oProblem impact questions oSolution value questions oConfirmatory questions Need Assessment

o Discussion of those product and/or service features, advantages, benefits o May be oral or supported by written, or visual aids oFeatures: Characteristic of a product or service oAdvantage: How the feature changes the performance oBenefits : How the advantage is useful for the buyer Presentation

oBenefits should be those which address specific needs mentioned by the customer oConvince the customer that their company’s products or services meet their needs and wants much better than competition oPolypill consisting of aspirin, statin, three blood pressure lowering agents ProductFeatureAdvantageBenefit Poly pillFive-in-one tablet Affordable, once in a day Patient compliance

o Product demonstration o Prepared sales presentation oAdvantages oGives new sales people confidence oCan utilize tested sales technique that have proven effective oGives some assurance that company story will be told oGreatly simplifies sales training Presentation

o Objections should be welcomed o Indicate prospect’s interest in presentation o Techniques to be followed o Actively listen to buyer o Clarify objections o Respect the prospect’s concern o No defensiveness o Respond to objection Meeting Objections

o Types of Objections oPrice/ Value Objections oProduct/ Service Objections oProcrastinating Objections oHidden Objections Meeting Objectives

o “I don’t need this” or “it costs too much” o Convince buyer of importance of problem and of value of solution o Go back to need assessment stage and ask problem impact and solution value questions o Offer some price value comparisons if buyer is still reluctant Price/Value Objections o Buyer doubts whether the product or service can solve his problem, or improve his operations. o Salesperson convinces buyers that the product will do what is being said about it o Demonstrate that product is capable of fulfilling buyer’s needs Product/Service Objections

oProof-providing tactics are used oCase-histories oTestimonials oClinical Reports, technical Reports and data oExpert Opinions oIndependent tests o A demonstration oTrial use Solution to Product/Service Objections

o Difficult to overcome oLet me think about it a while, oI have to talk over it to my boss, oLet me see/I will see oI have some other reps to talk before I make my decision. o Made to avoid immediate action on the proposition o Seek commitment for future action oMeeting with the buyer or his boss Procrastinating Objections

oProspects often hide their real reasons for not buying or stated objections may be fake oDetermine real barriers to the sales oAdapt presentations as per the buyer’s feedback oAsking questions is a good remedy oAt any cost, arguments should be avoided oA sales rep can win an argument only to lose sale Hidden Objections

oSalesperson must ask the buyer to commit to move sales forward oCan I place an order for you today? oBuyer may take an action to close sale oWe’ve decided that we need to make a change and we think your company is in best position to serve our needs. oIf sale is not closed; oObjective of sales call is to get the buyer to agree to some action which moves buyer closer to the sale oHe may agree to see the demonstration oAgree to try the sample of the product Gaining Commitment

oSales is not over when order is obtained oRequired as shift is from transactional selling to relationship selling oIt is much more expensive to acquire new customers than it is to retain existing customers. Follow up