Scribd
Upload
88 views

The Selling Process

The document outlines the key steps in the selling process including prospecting, pre-approach, approach, needs discovery, sales presentation, handling objections, closing the sale, and follow-up. It also discusses important sales skills like communication, listening, and negotiation that salespeople need to be successful. The overall selling process involves identifying prospects, understanding their needs, presenting solutions, addressing concerns, and ensuring post-purchase support.

Uploaded by

Priyanka Singhania
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
88 views

The Selling Process

The document outlines the key steps in the selling process including prospecting, pre-approach, approach, needs discovery, sales presentation, handling objections, closing the sale, and follow-up. It also discusses important sales skills like communication, listening, and negotiation that salespeople need to be successful. The overall selling process involves identifying prospects, understanding their needs, presenting solutions, addressing concerns, and ensuring post-purchase support.

Uploaded by

Priyanka Singhania
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 19

The Selling Process

The Selling Process

1. Prospecting & 4.Discovering &


2.Pre-approach 3.Approach
Qualifying Understanding

7.Closing the 6.Handling 5.Sales Presentation


8. Follow-up Sale & Demonstration
Objections
Prospecting
Prospecting is identifying prospective or potential customers for the company’s
products/services.

• Methods for identifying sales leads or leads (i.e. names and addresses of prospects)
• consulting existing customers

• The company sources (website, ads., tradeshows, phones)

• external sources (suppliers, intermediaries, trade associations)

• salespersons’ networking

• publications like industrial directories

• cold canvassing,

• standard industrial classification (SIC) system.

• world wide web’s (WWW’s) search engines.

.
Qualifying

Companies qualify sales leads to prospects by contacting them by e-mails or on phone


to find their
(i) interests (or needs)
(ii) financial capacity, and
(iii) ability to make a decision.

After qualifying, the sales leads are categorized as: Hot, Warm, or Cold prospects
Customer Cycle

Suspects

First-time Repeat
Prospects Clients Advocates Partners
customers customers

Disqualified
prospects Inactive or
ex-customers
Process of Prospecting and Qualifying

Start with leads/probable prospects (using


methods for identifying sales leads).
From leads to qualified prospects (using
need, decision making, affordability criteria).
Identify hot prospects ( criteria : sound
finance, likely to buy).

Convert hot prospects to


customers (purchased the
company’s products / services).

Sales Funnel
Successful salespeople always keep the sales funnel full.
Pre–Approach
Before approaching a prospect , a salesperson performs two tasks (1) information
gathering ,(2) planning the sales call.
Information Gathering
• Salespeople collect the prospective customers’ information like location, type of
business, purchase orientation and practices, & so on.
• Sources of information include the Internet, trade magazines, industrial
directories, online information services, etc
Planning the Sales Call
• Whom to see?
• Where to go?
• What are the call objectives?
• How to approach the prospect?
 
Approac
h
• Make an appointment to meet the prospect.
• Make a favorable first impression.

Which of the following ‘approach techniques’ to be


used?
• Introductory.
• Customer benefit statement.
• Product.
The purpose of approach is to gain the prospect’s agreement to move
forward to the next step.
Discovering & Understanding Buyers’ Needs

• Customers buy products/ services to satisfy their needs or to solve their problems.
• Salespeople uncover & know buyers’ needs by asking questions.
• Research based ‘SPIN Model’ suggests four types of questions :
(1) Situational questions –to know buyer’s current situation
(2) Problem questions-to discover problems or dissatisfaction experienced by the
buyer.
(3) Implication questions-to find implications or consequences of not solving the
problem.
(4) Need-payoff questions- to know the value or importance of the solution to the
problem. The purpose is to develop the buyer’s desire for a solution.
Sales Presentation Methods
•The Objective of sales presentation is to persuade the customer that the
company’s product/service being sold will meet his / her needs better than that
of competitors.

• Salespeople can choose from the following sales presentation methods:

(1) Stimulus Response Method/Canned Approach


• It is a memorized sales talk or a prepared sales presentation.
• The salesperson talks without knowing the prospect’s needs
• This method is used by telemarketing people, door-to-door salespersons,
and for training new salespeople with some changes.
.
(2) Formula Method / Formulated Approach.
• This method is also based on stimulus response thinking. Salesperson
assumes that buyers can be led through mental steps by using a well-
known formula – AIDA (attention, interest, desire, and action). However,
the AIDA model is now changed, as seen below :

From To

A. Attention Rapport

I. Interest Need
D. Desire Solution

A. Action Close
Sales Presentation Methods (Continued)
(3) Need – Satisfaction Method
• It is an interactive sales presentation, a creative form of selling.
• Salesperson first uncovers prospect’s needs by asking questions and listening. He then
makes a sales presentation by using FAB approach: Features, Advantages, Benefits.
• It is an effective method, as it focuses on customers.

(4) Consultative Selling Method/Problem-Solving Approach


• Used as a professional selling process in the 21 st century.
• Salespeople use cross-functional expertise.
• Firms adopt team selling approach.
• Sales team work in a collaborative/partnering relationship with the buying firm.
• Used by software / consulting firms.
Demonstrating the
Product

• Sales presentation can be improved by demonstration.


• Demonstration is one of the important selling tools.
Examples : Test drive of cars; demonstrations of
industrial products in use at trade shows.
• Benefits of using demonstration for selling are:
• Buyers’ objections are cleared.
• Improves the buyer’s purchasing interest.
• Helps to find specific benefits needed by the prospect.
• The prospect can experience the benefits.
Handling
Objections
• Objections from prospective customers may take place during
presentations / when the order is asked. If objections are handled
satisfactorily, they may result in sales.
• Two types of sales objections happen :
• Psychological / hidden objections
• Logical, real or practical objections
• Methods used for handling objections:
(i) For Psychological objections: ask questions to clarify the
customer’s thinking.
(ii) For logical objections: (a) ask questions, (b) turn an objection
into a benefit, (c) deny objections tactfully, (d) show third-party
certificates, (e) offer compensation.
Trial Close and Closing the
Sale

• ‘ Trial close ‘ checks the attitude or opinion of the


prospect, before closing the sale.
• If the response to trial close question is favorable, then
the salesperson should close the sale ( i.e. ask for the
order ). If not, go back to presentation.
• Some of the major closing techniques are: (a)
alternative-choice, (b) minor points, (c) assumptive, (d)
summary-of-benefits, (e) T-account, (f) special-offer, (g)
probability, and (h) negotiation
Follow-Up
Necessary for customer satisfaction and building
loyalty.
Successful salespeople follow-up in different ways:
• Check customer order.
• Visit when the product is delivered.
• Build long-term relationship.
• Carry out account penetration.
Success Factors in Selling
• For success in selling, a salesperson should possess certain
characteristics and develop a set of skills.
Characteristics of an Effective Salesperson
•Burning desire .
•Cooperativeness.
•Empathy.
•Positive attitude.
•Discipline.
•Technology savvy.

Set of Necessary Skills


• Communication skills.
• Listening skills.
• Negotiation skills.
Communication Skills
• These are required for salespeople and sales managers.
• Communication is transmission of verbal & non-verbal information
between a salesperson and a buyer.
• Non-verbal communications include eye contact, posture, gestures, facial
expression, and overall grooming.
• For effective verbal communication, a salesperson’s tone should be
pleasant with moderate pace of speech, using positive and layman’s
language.
Listening Skills
• Listening is more important than talking.
• Effective salespeople listen very attentively and actively to what is said and
unsaid.
• Successful companies send their salespeople to the training programs
which give importance to listening and speaking.
Negotiation Skills

Salespeople need negotiating skills


Negotiations are needed under the following
circumstances :
(a) When the buyer puts certain conditions for buying to the seller, (b) When agreement
between the buyer and the seller is needed on several factors, (c) When the product is
customized, and (d) When the final price is to be decided.

Steps needed to prepare for negotiation with customers:


(a) planning, (b) building relationship, and (c) knowing the purpose.

Styles of Negotiation
(a) I win, you lose, (b) Both of us win (or win-win style), (c) You win, I lose, and (d) Both of
us lose.

You might also like