Lecture Notes: Lesson 27.2 - Selling

Introduction

• Discussion on salespeople and their approach.
• Importance of sales training for customer conversion.
• Focus of the lesson: preparing to sell, six steps of the sales process, lost sales.

Preparing to Sell

Pre-approach

• Product Training

  • Salespeople must understand product details.
  • Collaboration with marketing for training and materials.
  • Feature-benefit or solution selling: Product as a solution to customer needs.
  • Pricing models need thorough understanding.
  • Formal training: classes, certifications.
  • Informal training: self-study of provided materials, direct product experience.
  • Importance of product demos.

• Identifying Potential Customers

  • Leads or prospects can be obtained via trade shows, website visits, customer support.
  • Larger companies typically have dedicated teams for lead generation.
  • Qualifying the Lead: Researching potential customer's business details.
  • Data stored in CRM systems.
  • Cold Calling: Contacting people unexpectedly.

The Sales Process

1. Approach the Customer

   • Initial contact: handshake, introduction, dressing, posture, eye contact, etc.
   • Importance of first impressions.
   • B2B vs. B2C approaches:
     • B2B: Appointment setting, relationship building.
     • B2C: Service, greeting, merchandise approaches.
     • Combination of approaches often used.

2. Determine Customer's Needs

   • B2B: Done in qualifying process.
   • B2C: Done during approach.
   • Buying Motives: Rational, emotional, loyalty.
   • Methods: observation, questioning, listening.

3. Present the Product or Service

   • Matching product to customer needs.
   • Substitute Selling: Alternative product suggestions.
   • B2C: Informal presentations.
   • B2B: Formal presentations with scripts and slideshows.
   • Tips for effective presentation.

4. Answer Questions or Objections

   • Handling customer concerns and excuses.
   • Preparing an objections grid.
   • Empathy and response strategies.

5. Close the Sale

   • Customer agreement to purchase.
   • Buying Signals: Recognizing readiness to buy.
   • Closing Techniques: Assumption, bonus, choice, satisfaction, contingent, direct.
   • Importance of avoiding overselling.

6. Provide Follow-up After the Sale

   • Ensure customer satisfaction to retain business.
   • Use of confirmations and thank you notes.

Lost Sales

• Importance of analyzing reasons for lost sales.
• Factors: incorrect product selection, delivery, price.
• Maintaining a positive attitude and learning from experiences.

Summary

• Review of the sales process and techniques.
• Emphasis on continuous improvement and customer relationship management.

Pop Quizzes

• Sales Process Steps: Screenshot provided for study.
• Closing Techniques: Strategies detailed for reference.

Conclusion

• Recap of lesson content.
• Encouragement for further inquiry and understanding of sales processes.