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Selling in challenging times 2015 AoB
1. L E A H C I M S E M A J
Selling in a Challenging
Economic Environment
11/14/2015
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2. âĸEach week we can see a growing
number of ads seeking sales persons
âĸThe lists of prerequisites are
getting longer and more impressive:
The Death of A Salesman
âĻ As We Knew Him
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3. The Ad
ī âAt least 2 years experience;
ī be creative flexible and outgoing;
ī professional and business-like;
ī possess strong oral and written skills;
ī own a reliable motor car;
ī be able to travel island wide;
ī have a minimum of 6 CXC subjects;
ī previous sales experience an asset;
ī be able to work on their own initiativeâ
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4. I frequently remind these ambitious employers
ī that persons who are able to work on their own
īĄ and are self-motivated
īĄ more often that not
īĄ tend to be self-employed
ī But the problem is deeper than that
ī Where do they expect these sales persons to materialize from?
ī What aspect of our school experience is producing this subtle mix of
technical and interpersonal skills?
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5. Who is the archetypical typical sales person?
ī I would think that in Jamaica many would
nominate someone selling
īĄ Financial products
īĄ Insurance
īĄ Consumer goods
īĄ Medical supplier and drugs
ī What did these persons want to be when they
âgrow bigâ?
ī I can guarantee that it was not sales
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6. The Aspirations
ī What percent of people who are now in sales
had these aspirations in primary school?
īĄ Few?
ī In high school?
īĄ Less
ī In college?
īĄ None
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7. Here is a career path
ī that can generate very high income and
autonomy,
ī while at the same time being extremely
critical to most business,
ī yet has received no support from the formal
educational system
ī Were there any sales persons at your
schoolâs Career Day?
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8. The Attraction
ī The most common attraction to the area of
sales has been
īĄthe ability to set ones earning capacity and
your own hours
ī I dare say that more people have these desires
than have the capacity to meet the expectation
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9. The Male Profile
ī I have always thought that the best profile
for an old order sales man would be
īĄone that does not live with parents
īĄhave expensive tastes for
īˇmaterial things
īĸand high maintenance women
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10. The Female Profile
īwould be
īĄan ambitious single mother
īĄwho wants the best for her 3 children
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11. ī will be driven to produce
ī Today sales have evolved well beyond these
parameters
ī We had better wake up and begin some
serious preparation work for this profession
Both of these persons
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The Birth of the New Sales Person
īThe new sales person must be much
more than an order taker.
īThe internet and Business to
Business activities (B to B)
procedures
īĄcan do a more effective job
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The digital model
ī has the supplier with a cash register online,
ī the customer has an inventory control system
īĄ with a preset reorder point at which an email is automatically
generated directing an order to the supplier.
ī All this takes place without someone stopping
by to enquire
īĄ âHow much yu want dis month baas?â
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The new salesperson
īIs a strategic business partner
who is no longer interested in
âclosing a saleâ,
īĄbut instead âopening a relationshipâ.
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Digicel
ī I was involved in training some persons who worked in a
Digicel store
īĄ shortly after the company came on-stream.
ī They had the âold orderâ mind set
īĄ that a phone was a once-in-a-lifetime purchase.
ī I had to prepare them for the reality that
īĄ the lifetime of a cell phone would be about one year.
ī Based on the quality of the relationship established with the
customer,
īĄ you could develop a continuous income stream from not only phones,
but also for accessories.
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The Data
ī "How to Hire and Develop Your Next Top
Performer: The Five Qualities That Make Sales
People Greatâ
īĄ Herb Greenberg, Harold Weinstein and Patrick Sweeney
ī Correlations of hundreds of thousands of
assessments that were performed over several
decades
īĄ with various sales performance measurements.
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They help us understand
īwhy it is that some people succeed in
sales,
īĄwhile others seem to get nowhere.
īThey arrived at a frightening conclusion
īĄthat may well be applicable to the Jamaican
situation.
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The Facts
ī55% of the people earning their
living in sales
īĄshould be doing something else
ī25% have what it takes to sell,
īĄbut they should be selling something else
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WHY?
ī The reasons for these dismal figures
īĄ are largely based on the fact that most sales persons are primarily driven
by the earning potential
ī Usually selected for the job by limited and subjective
processes.
īĄ This usually means a resume (self-report)
īĄ and an interview.
ī We recommend that if Sales is critical to your business,
an employer must go well beyond this.
20. Your Best Sales People
Lynette Ryals & Iain Davies
Harvard Business Review
December 2010
21. The Data
ī Observation of 800 Sales Professionals in live sales
meetings
ī Discovered 8 sales types
ī Only three (3) types accounting for 37%
īĄwere consistently effective
ī Five (5) types â 63%,
īĄConsistently under performed
22. The Bad News
ī9.1%
of sales
meetings
result in a sale
ī1 of 250
sales people
exceed their
targets
23. The Good News
ī The 8 types represent behavioral tendencies,
īĄnot set-in-stone personalities
ī Managers can effect changes in their current
salespeople,
īĄand recruit better team members in the future in the
understand the 8 types
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Profiling
ī Begin by developing a profile of your most
successful sales persons.
ī This will allow you to identify the common
element(s) that distinguishes them from the rest.
ī Next,
īĄ identify some more people who have these same traits.
ī How?
īĄ Use the available research which has identified
traits that are usually present in persons who
excel in sales.
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The Sales Aptitude Test
ī The Sales Aptitude Test was developed by Science
Research Associates
īĄ to assess behavioural and personality characteristics which
have been shown to be important to success in sales
occupations.
ī It is used for personnel selection and placement for
Sales and Sales Management positions.
ī The assessment measures an individualâs sales
aptitude.
ī The test utilizes items related to seven (7) personal
attributes
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Achievement Motivation
ī the internalization of high standards for
performance
īĄ and the preference for working on challenging or difficult tasks.
ī Individuals who are highly motivated to
achieve
īĄ are ambitious and strive to accomplish something important.
ī They are often highly competitive,
īĄ and they place a priority on winning
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Ego-Strength
ī resilience to criticism, rejection or failure
ī Individuals with high ego strength have
a strong sense of self-worth
īĄand like themselves for who they are
ī These persons are able to maintain a
positive attitude in the face of failure or
rejection
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Enterprise
īthe preference for adventurous
activities
īĄand willingness to take risks that will pay off
in a materialistic sense
īEnterprising people enjoy working
in a competitive business
environment.
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Self-Confidence
ī the willingness to take action
īĄbased on the belief that effort will produce
desired outcomes
ī Individuals with a high level of self-
confidence approach tasks
īĄwith the belief that their abilities and drive are
all well matched to the task
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Sociability
īthe preference for interacting with
people during work and recreation
īHighly sociable people gain
satisfaction from relationships;
īĄthey are friendly, outgoing, articulate
and socially at ease
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Based on these traits,
ī sales aptitude is characterized by
īĄ a tough-minded social confidence,
īĄ a competitive ambition,
īĄ a need to persuade and influence others
īĄ and a high level of energy and industry
ī The test produces a single score
īĄ which has been shown to predict successful sales
performance
īĄ in a variety of industries
45. To Really Be A Top
Financial Advisor?
DO YOU HAVE WHAT
IT TAKES
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46. Do You Have the Right
Attitude to Sell?
īHigh-efficiency
selling begins with
attitude
īSuccessful
salespeople listen
well and generally
are open-minded
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47. 1. Willingness to be Different
īSuccess often requires a
different approach
īYou donât have
īĄto look, sound, act
īĄor get compensated like
everyone else
īDo what works for you
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48. For Instance
īTrack your own
sales instead of
waiting for for a
sales manager to
do it for you
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49. 2. Commitment
īCutting corners and
compromising standards
offer short-term gain
īĄbut undermine relationships
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50. Commitment
ī Develop a sense of purpose and
resolve in what you do
ī You operate in your own best
interests when you serve your
customers
īĄunfailingly and without hesitation
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52. 3. Self-motivation
īYou are responsible for your own
success
īKeep in mind the adage
īĄgood luck is found at the
intersection of preparation,
īĄhard work and opportunity
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53. 4. Accountability
īThe most effective way to
handle a problem is to confront
it directly
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55. 5. Long-term Perspective
īSome interactions are short-
term purchases
īOthers offer the opportunity
for long-term relationships
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56. Long-term Perspective
īLearn to recognise the difference
īRemember that selling ultimately
is an interaction between
individuals,
īĄnot institutions
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57. 6. Focus
īYour objective is to propose
solutions for your customers
īDelegate to support staff those
routine tasks that interfere with
your objective
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58. Focus
īAsk someone else to go to that
meeting you had planned to
attend
īConcentrate on bringing in new
business to the company
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59. 7. Optimistic
īSalespeople, like actors, need to
know how to experience emotions
īĄwithout getting caught up in them
īAnger, frustration, and fear are
part of the sales game
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61. 8. Enthusiastic
īGenuine enthusiasm is
contagious
īone of the best ways to win
people over to your way of
thinking
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63. 9. Cause-oriented
īBelieve in what you do for a
living
īIf you donât believe in your
contribution or your company
īĄget another job
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64. Do You Enjoy Your Work?
īIf you win the lottery
You will be happy for a year
īBut if you enjoy what you do
You will be happy for a lifetime
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65. īThere is work that is work
īĄAnd there is play that is play;
īThere is play that is work
īĄAnd work that is play
īAnd in only one of these lie
happiness
īĄGelett Burgess
Work and Play
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Do You Enjoy Your Job?
Man who enjoys
his job will never
have to work
a day in his life
Confucius
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68. You Can
īFulfil buyersâ
evolving needs by
taking on a different
role for each of the
eight steps in the
buying process
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69. 1. Act As A Student
īTo study the change
affecting your
customers
īFind opportunities
to add value
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70. 2. Act As A Doctor
īDiagnose
customersâ
discontents
īUncover their big
needs
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71. 3. Act As An Architect
īAs prospects research
solutions
īYou design buying
criteria that meets
their needs
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72. 4. Act As A Coach
īWhen customer starts
comparing your
offering to the
competitionâs
īYou make a game plan
to win the account
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73. 5. Act As A Therapist
īTo draw out
prospectsâ fears
and resolve them
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74. 6. Act As A Negotiator
īTry to reach a
mutual
commitment to
âopenâ a
relationship
īNot âcloseâ a sale
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75. 7. Teach Your Customers
īSo they learn to
use your product
and fulfil their
expectations
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76. 8. Act As A Farmer
īCultivate customer
Satisfaction
īGrow the account as a
Farmer cultivates his
crops
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78. Sales Role 1: Student
īStudy the change
affecting prospects
īFind opportunities
for you to add
value
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79. You must first study in detail
īWhat are the customerâs needs?
īAs a âstudent,â
īĄyou must do research
īfor example
īĄWhat is the personâs risk tolerance?
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81. Look for External Changes
īNew government
regulations
īForeign competitors
īInternal changes
īĄMergers
īĄReengineering
programs
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82. Once You Identify Changes Affecting
Your Customer
īYou can offer solutions to help them deal with
those changes
īThe key to being a good student is to forget
about your products
īĄimagine that you work for your customer
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83. Ask yourself
īWhat results is my
customer trying to
achieve?
īHow can my product
or service help?
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84. 2. Act As A Doctor
ī Diagnose discontent and
uncover big needs
ī At this step of the process,
customers recognise a problem
or opportunity
ī Question the seriousness of the
problem
ī Decide whether to buy a
solution
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85. A Doctor
ī Helps people achieve
wellness through
knowledge and
questioning
ī As a âdoctorâ of selling
ī You ask questions
ī Help prospects diagnose
problems
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86. 1. Ask History Questions
īGet background
facts and current
information
īIdentify actual
performance and
the ideal level of
performance
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87. 2. Ask Symptom Questions:
ī Why is the customer
unhappy?
ī Where does the discontent
stem from?
ī Customer may or may not
know the cause of the
discontent
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88. 3. Ask Cause Questions
ī Determine the source of
the problems
ī Customers may also not
realise the seriousness of a
problem
ī The seriousness is
important in helping
determine whether or not
they have a pressing need
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89. 4. Ask Complication Questions
īUncovering serious
underlying problems
īBy digging further,
īĄyou can reveal any âbigâ
needs of which the prospect
may be unaware
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90. 5. Finally, Ask Cure Questions
īHelps you identify
expectations of value
īExample of a cure question
īĄâWhat would a new income
stream allow you to do?â
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91. After Gathering This Information
īYou can begin
showing how you can
help
īa prescription for
their needs
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92. You are
īOffering a preliminary
prescription so that
you can go with your
customer to the next
step of the buying
process
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93. Sales Role 3: Architect
ī Design unique solutions that
influence your customersâ
research
ī At this point in the process
prospects have a general concept
of what they want
ī Based on the needs identified
previously
ī But they havenât made any
decisions on the specifics yet
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94. Your Role
ī To help customers move from a general concept to a specific
plan
ī a plan that contains the specific criteria on which they will
make their decisions
ī These criteria should
īĄ correspond as much as possible to the strengths of your offering
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95. You Must First
īUnderstand the customersâ
concept
īAn architect knows what a
client wishes to accomplish
with a new building
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96. As an âArchitectâ of
Financial Planning
īYou must ask the
same question:
īWhat do they want
to accomplish?
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97. As an Architect
īYou want to draw out the must-have
requirements prospects havenât thought of
īĄbut that are required for the job to get done to their
satisfaction
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98. The clients of an architect
ī Often see a new building as an opportunity
ī They donât realise all the ways in which a
new building can help them improve
operations
ī By questioning clients carefully
īĄ Architects elicit ânice-to haveâ criteria not
mentioned before
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99. Question them carefully
ī About their operations and their goals
ī You can uncover ânice to havesâ that
they might never have thought of
ī Ask your prospect to rank the relative
importance of each nice-to-have item
ī Help prospects emphasise benefits in
which you are strong
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100. On the other hand
ī A customer might demand
ī âShow me what youâve gotâ
ī Try saying,
īĄ âI can show you many options.
But to know which ones are
pertinent for you,
īĄI need to ask you a few
questions firstâĻ.â
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101. ALTERNATIVE
ī Show the prospect what
youâve got
ī Then immediately back up
and identify the problem or
opportunity the prospect is
trying to solve
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102. Sales Role 4: Coach
īCompare your offering to
the competitionâs then
implement a game plan to
win the account
īIn step 4 of the buying
process, customers are
comparison shopping
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103. Your Mission
ī To convince buyers
īĄ Without getting into a self-
destructive price war
īĄ That you offer the best solution
to their needs
ī Think of step 4 as a sport
match between you and the
competition
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104. To win the game
īYou must act
as a âcoachâ
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105. âWho is the best choice?â
ī Customerâs number one question in the comparison
step
ī If you canât answer that question, youâll be in a price
war
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106. How do coaches win games?
ī First
ī they analyse their teamâs
strengths and weaknesses
ī match them up against
the strengths and
weaknesses of the
opponent
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107. From that comparison
ī They develop a winning game
plan designed to exploit their
teamâs strengths and the
weaknesses of the opponent
ī Then the team executes the
plan
ī Winning an account involves
the same three steps
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108. The Pre-game Comparison
ī First, âscoutâ your opponents
ī Ask customer outright who the
competition is
ī Listen carefully to objections
ī Scout opponents through
competitive analyses
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109. One by One
ī Take the must-have and
nice-to-have criteria
developed in step 3
ī see how you match up
against the competition
ī Donât limit yourself
ī Add in intangibles that add
value to your offering
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110. The Game Plan
ī Design a game plan to exploit your
strengths and opponentsâ weaknesses
ī You already put yourself in a better
position in the architect phase when
influencing the criteria list
ī Bolster those strengths on the list by
asking buyers to explain why those
features are important to them
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111. LET THEM TALK
ī The more they themselves
talk about the features, the
more those features will
rise in importance
ī Donât forget to emphasise
intangible strengths in your
game plan
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112. Some other strategies to keep in mind:
ī If you have weaknesses
â and you will â
repackage them to
focus on your strengths
instead
ī Carefully look for
weaknesses in your
competitorsâ strengths
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113. First
ī show that you fully understand your clientsâ needs
and objectives
ī Then,
īĄ based on your strengths and opponentsâ weaknesses,
īĄ you must describe how your solution meets those needs
ī Next â
īĄ justify the costs of your solution by showing how the buyersâ profits will
improve
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114. Emphasising
ī Your strengths and
opponentsâ weaknesses
ī Justify costs
ī Lead prospects to just
one conclusion:
īĄBuy from you
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115. Sales Role 5: Therapist
īDraw out
fears and
resolve them
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116. Reluctance Is Not Objection
ī The last-minute
reluctance to
plunge forward
into the
purchase is
more emotional
than rational
ī Some sales
people ignore
this component
and stubbornly
repeat rational
arguments for
the purchase
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117. Instead of Treating Fear As an
Objection to Be Countered
īEncourage open
expressions of concerns
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118. Instead of Treating Fear As an
Objection to Be Countered
ī This is only way that prospects can
move past those concerns and on to
the next step: commitment
ī The first step
īĄBe sensitive and observant so that you
can recognise when prospects are
becoming fearful or reluctant
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119. Signs of Fear
ī Negative body
language
ī Unreturned phone
calls
ī A reluctance to meet
ī Unrealistic demands
īĄSuch as on price
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120. If You See the Signs of Fear
ī First, explore your
buyersâ concerns
ī Ask:
īĄâCan you tell me more
about that?â
īĄâWhy do you feel that
way?â
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121. You Are a Therapist
ī You must ask questions
ī Keep digging
ī The first concerns are often
smokescreens chosen to provide quick
escapes for the prospects
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122. To Uncover the Hidden Real Concerns
īEmpathise with prospectsâ
feelings
īPut yourself in their shoes to
understand their
motivations
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123. To Uncover the Hidden Real Concerns
ī Help your prospects resolve
their fears for themselves by
discussing alternatives
ī Ask your prospects to think of
possible solutions to their
concerns
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124. If You Have a Solution
ī Present it as an alternative
īĄNot a solution
ī Prospects who choose solutions themselves will be
more committed â and less fearful â about those
solutions
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126. Your Goal As a Therapist
ī To help prospects
explore alternatives
ī To resolve their
fears so that you
move toward in the
buying process
īĄnot backward
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127. Sales Role 6: Negotiator
īTry to reach a
mutual
commitment to
âopenâ a
relationship
īNot âcloseâ a sale
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128. Win-Win Negotiations
ī Donât destroy the
relationships that
youâve
painstakingly built
up with your
prospects by
haggling over prices
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129. The Result Will Be a Win-lose Situation
ī Someone has to lose so that the other
party can win
ī This situation is hardly conducive to the
type of long-term relationship you want
to nurture with a customer
ī Try to reach a win-win agreement that
meets the present and future needs of
both you and your prospect
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130. Negotiation Strengths
ī Analyse the negotiating power of
both you and the buyer
ī Many salespeople underestimate
their strengths in a negotiation
ī Eager to make a sale afraid the
buyer will go someplace else,
they make overly generous
concession
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131. The Result
ī Profits from the sale are limited
ī The salesperson
īĄAs well as his or her company
īĄLoses in the agreement
ī Make sure that you are aware of your negotiating
strengths
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132. Establish a Range of Flexibility
īThe minimum positions that
you will accept
īYour most-favourable list-
price scenario
īWhat you hope to achieve
through the negotiations
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133. Your Negotiating Strengths
īArmed with justifications and possible
concessions
īYou are now ready to negotiate
īRemember to strive for a win-win agreement
īNegotiations shouldnât be a battle to the bloody
finish
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134. Once a Buyerâs Offer Is Proposed and Countered
īGet all additional buyer demands out in the
open
īThis will prevent a buyer nibbling
concessions through the negotiations
īNever give a concession without getting one
in return
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135. The Goal of Negotiations
īTo open a relationship
īĄNot close a sale
īYou want to get the buyer to
commit to you
īBut you must also commit
to the buyer
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136. Sales Role 7: Teacher
īIdentify
expectations and
teach customers to
use your product so
expectations are
fulfilled
īFor most
salespeople, the
sales process
comes to and end
when the customer
says âyesâ
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137. For Buyers
ī The process is just beginning
ī To keep customers for life,
īĄyou must see things from the customerâs perspective
ī You must see the âcloseâ of a deal as
īĄthe beginning of a new sales process
ī Not the end of an old one
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138. During the Sale Process
ī Buyers form expectations of the value that would
result from the purchase
ī If you and your product donât fulfil those
expectations, you will have unsatisfied customers
ī They wonât be back for repeat sales
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139. The Problem
īInexperienced customers often have
exaggerated or unrealistic expectations
īThey are often ignorant of the learning process
required to master the new product or service
īYour first post-sales role is that of âteacherâ
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140. Teaching Buyers
ī As a teacher
for new
customers,
you want to
do three
things
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141. First
ī Set realistic objectives and
expectations
ī Ask customers how they will know that
the new product or service is successful
īĄThis sets concrete, realistic objectives and
expectations for the purchase
ī Customers can then monitor the
effectiveness of a new product or
service
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142. Second
ī Show your buyers how to make the most of your
offering
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143. Finally
ī Test whether objectives have been reached
ī Depending on the size and scope of the purchase
īĄTesting can range from follow-up phone calls or
questionnaires to months of tracking and analysis
ī Cultivate customers satisfaction
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144. Sales Role 8: Farmer
ī Cultivate customer satisfaction
and grow the account
ī Unhappy customers are often
the result of bankers who have
become complacent
ī They donât hear from
customers and assume
everythingâs okay
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145. Try to Nurture and Grow the Account
ī As a farmer nurtures and
grows his crops
ī As a âfarmerâ of selling
ī You must first nourish the
relationship with your
customers
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146. Most Unhappy Customers Donât Complain
ī Theyâll just look elsewhere the
next time around
ī To avoid becoming complacent
īĄstart thinking of âaccount
developmentâ
īĄinstead of âaccount maintenanceâ
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147. Keep in Touch With Customers
ī Through regular account review
ī Ensure that everything is going well
ī For example
īĄIf any problems crop up, attack them with
vigour
īĄShow that you care
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148. Next
ī âSowâ new applications for your
product or service
ī Find new ways for your
customer benefit from your
offerings
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149. A Farmer
ī Cultivates his fields
ī Irrigating the crop
ī Keeping away pest and
weeds
ī You should do the same
ī Keep generating new ideas
to help your customers grow
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150. Maintain Your Relationships
īKeep away âpests and weedsâ
īĄYour competitors
īYour extra efforts will yield results
īJust as a farmer reaps the fruits of
his labours
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151. For Example
ī You will have placed
yourself in good position
to be awarded future,
perhaps larger loans
ī You will have cultivated
receptive outlets for new
products and services
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152. Next Season
ī The farmer will start over
ī You must do the same
ī In the months and years after a
purchase, your knowledge of
your customer may become
outdated
ī You then return to customer-
focused sales role 1 and
become a student once again
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153. M O B I L E : 8 7 6 . 3 8 3 . 5 6 2 7 S K Y P E : L S E M A J
O F F I C E : 8 7 6 . 9 4 2 . 9 0 5 7 T W I T T E R : L S E M A J
E M A I L : S E M A J @ L T S E M A J . C O M F A C E B O O K : L T S e m a j P h D
B L O G : T H E S E M A J M I N D S P A . W O R D P R E S S . C O M
WWW.SLIDESHARE.NET/LSEMAJ
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