Improving your selling skills and strategy

Improving your selling skills and strategy

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  Improving your sellingskills and strategy:Improving your selling skills and strategy: (learning the(learning the tactics of closing a sale”)tactics of closing a sale”) ByBy Angela IhunwezeAngela Ihunweze
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  Objective of thetopicObjective of the topic 1. To improve your1. To improve your effectiveness of your sellingeffectiveness of your selling skills.skills. 2. Enlighten you on the2. Enlighten you on the various strategies to use asvarious strategies to use as you perform this tasksyou perform this tasks 3. Achieve the overall3. Achieve the overall objective of any business;objective of any business; Increase in the bottom-lineIncrease in the bottom-line (Profit making)(Profit making)
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  OverviewOverview Universally there isa common consensusUniversally there is a common consensus that athat a salesale is; the act ofis; the act of sellingselling a producta product or service in return for money or otheror service in return for money or other compensation. It is an act of completion ofcompensation. It is an act of completion of a commercial activity.a commercial activity.
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  Overview part 2Overviewpart 2 Difference between sales andDifference between sales and marketingmarketing Marketing premised on the abilityMarketing premised on the ability to satisfy the needs and wants ofto satisfy the needs and wants of the customers at a profit.the customers at a profit. WhileWhile selling is the act of persuading orselling is the act of persuading or influencing a customer to buyinfluencing a customer to buy (actually exchange something of(actually exchange something of value for) a product or service.value for) a product or service.
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  Overview part 3Overviewpart 3 Sales processSales process ► The selling process has sixThe selling process has six key steps. Virtually everykey steps. Virtually every sales interaction will followsales interaction will follow these steps, whether it laststhese steps, whether it lasts several minutes or severalseveral minutes or several months:months: ► ProspectingProspecting ► Initial ContactInitial Contact ► Sales PresentationSales Presentation ► Handling ObjectionsHandling Objections ► Closing the SaleClosing the Sale ► Follow-Up and Service afterFollow-Up and Service after the Salethe Sale
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  Steps to closinga saleSteps to closing a sale Once you've made your presentation andOnce you've made your presentation and answered your prospect's questions andanswered your prospect's questions and objections, it's time to ask for the sale. Thisobjections, it's time to ask for the sale. This is the second-most neglected stage of theis the second-most neglected stage of the sales cycle... which is especially sad givensales cycle... which is especially sad given that it's probably the most critical one.that it's probably the most critical one. When you move from 'vacuum salesman' to trusted advisor you seal more deals.When you move from 'vacuum salesman' to trusted advisor you seal more deals.
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  Introduction to somebasic closesIntroduction to some basic closes Basic ClosesBasic Closes These are fairly simple toThese are fairly simple to implement and will work on aimplement and will work on a wide range of prospects. If youwide range of prospects. If you presented the product well andpresented the product well and responded to the prospect'sresponded to the prospect's objections, the close followsobjections, the close follows naturally.naturally.
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  Types of basicclosesTypes of basic closes ► The Assumptive CloseThe Assumptive Close The assumptive close is the most generic,The assumptive close is the most generic, and is the one you'd use if you haven'tand is the one you'd use if you haven't been able to fit the prospect to a morebeen able to fit the prospect to a more customized close. After you've made yourcustomized close. After you've made your presentation and answered the prospect'spresentation and answered the prospect's questions, you ask a question thatquestions, you ask a question that assumes your prospect is about to buy theassumes your prospect is about to buy the product. Here are a few examplesproduct. Here are a few examples :: ► Would you prefer red or blue?Would you prefer red or blue? ► Our standard delivery can have this to you byOur standard delivery can have this to you by Tuesday, or will you need our rush delivery option?Tuesday, or will you need our rush delivery option? ► Will ten units do for a start?Will ten units do for a start? ► I can get you a 10% discount if you pay for a yearI can get you a 10% discount if you pay for a year in advance, would that work for you?in advance, would that work for you? ► Will you be having fries or onion rings with yourWill you be having fries or onion rings with your meal?meal? ► OK, you probably won't use that last one veryOK, you probably won't use that last one very often. It shouldn't be too difficult to come up with aoften. It shouldn't be too difficult to come up with a handful of similar assumptive questions that fithandful of similar assumptive questions that fit your product(s) or service(s).your product(s) or service(s). This leads the customer to make decisionThis leads the customer to make decision
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  Types of basiccloses part 2Types of basic closes part 2 The Time-Limit CloseThe Time-Limit Close This is a good one to use if your prospect utters the fatal phraseThis is a good one to use if your prospect utters the fatal phrase “I'd like to think it over first.” Pause for a beat, then nod“I'd like to think it over first.” Pause for a beat, then nod thoughtfully and say something like this:thoughtfully and say something like this: ► ““I can certainly understand your wanting to think about this, butI can certainly understand your wanting to think about this, but I want to let you know now that this model you'd like is aI want to let you know now that this model you'd like is a popular one and we're usually under stocked. I'd hate for you topopular one and we're usually under stocked. I'd hate for you to be stuck with a model that's not as good a fit just because thisbe stuck with a model that's not as good a fit just because this one's not available tomorrow!" if that is the situation on ground)one's not available tomorrow!" if that is the situation on ground) ► Or you can mention a discount that will expire in two days, or aOr you can mention a discount that will expire in two days, or a promotion such as a gift with purchase that's about to end. Ofpromotion such as a gift with purchase that's about to end. Of course, this only works if such a limitation exists – don't ever liecourse, this only works if such a limitation exists – don't ever lie to a prospect!to a prospect!
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  Types of basiccloses part 3Types of basic closes part 3 The Custom CloseThe Custom Close ► If you've qualified the customer well,If you've qualified the customer well, you've probably gathered a lot ofyou've probably gathered a lot of information about their preferencesinformation about their preferences (color, size, features, quality level,(color, size, features, quality level, amount they're ready to spend, etc.).amount they're ready to spend, etc.). When you're ready to close, look atWhen you're ready to close, look at your notes and highlight the pointsyour notes and highlight the points you jotted down and introduce youryou jotted down and introduce your product or service , mentioning howproduct or service , mentioning how it will address the issues raised. Ifit will address the issues raised. If there no objectives still smiling, handthere no objectives still smiling, hand over the contract and point out theover the contract and point out the signature line. Since you've alreadysignature line. Since you've already accounted for everything theaccounted for everything the prospect says they want in a TV, it'sprospect says they want in a TV, it's unlikely they'll back out now.unlikely they'll back out now.
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  Words of wisdomWordsof wisdom ► As you develop a sales process that is right for you and your business, hereAs you develop a sales process that is right for you and your business, here are some other pointers to keep in mind:are some other pointers to keep in mind: ► Continuously improve your sales skills, learn from others and stay open to newContinuously improve your sales skills, learn from others and stay open to new ideas.ideas. ► Be sincere about your desire to help the prospect. Making the sale should beBe sincere about your desire to help the prospect. Making the sale should be your secondary objective. This attitude will come through in every encounteryour secondary objective. This attitude will come through in every encounter and will help you build long-term relationships.and will help you build long-term relationships. ► Contribute more than just your product. Provide industry news updates,Contribute more than just your product. Provide industry news updates, creative ideas, and business advice as part of the service you offer.creative ideas, and business advice as part of the service you offer. ► Be direct with your communication. Beating around the bush only frustratesBe direct with your communication. Beating around the bush only frustrates people. Answer all questions. Never patronize.people. Answer all questions. Never patronize. ► Enclose your business card with every letter and note.Enclose your business card with every letter and note. ► Thank people who refer prospects to you. If the referral results in business,Thank people who refer prospects to you. If the referral results in business, send a small, business-related thank-you gift also.send a small, business-related thank-you gift also. ► Never lie. Don't badmouth the competition or say negative things about theirNever lie. Don't badmouth the competition or say negative things about their clients. Don't gossip.clients. Don't gossip. ► Don't overbook yourself so much that you don't have time to listen and beDon't overbook yourself so much that you don't have time to listen and be available to your customer for their questions and comments.available to your customer for their questions and comments.