The Sales Process

• The sales process is a series of actions to guide a customer to make a purchase, applicable in both B2C and B2B contexts.

Stages in the Sales Process

• Prospecting/Customer Identification
• Pre-approach/Planning
• Approach
• Presentation
• Trial Close
• Determine Objections
• Meet Objections
• Trial Close
• Close
• Follow-Up & Service

Steps in Each Stage

• Prospecting/Customer: Identify organizations with Money, Ability, and Desire (MAD).
• Pre-approach/Planning: Plan objectives and strategies.
• Approach: Build rapport, uncover needs to transition into the presentation, and gain attention/interest.
• Presentation: Highlight physical characteristics, resulting benefits, resale strategies (for resellers), usage instructions (consumers/users) and customer advantages.
• Trial Close: Assess customer attitude toward the presentation.
• Determine Objections: Identify opposition or resistance.
• Meet Objections: Address concerns using appropriate techniques.
• Trial Close: Evaluate attitude after objection resolution.
• Close: Ask for the sale.
• Follow-Up & Service: Maintain contact, ensure high service levels to encourage repeat business/ identify future prospects with MAD.

Trial Closes

• Trial closes do not directly ask for a purchase.
• Examples: Asking for general thoughts, willingness to share opinions, importance assessment, or observing non-verbal cues like smiling.

The SELL Sequence

• The SELL Sequence is like the FAB, but includes a trial close after the benefit statement.
• Show Feature: Physical characteristic; explain the advantage: performance characteristic; lead into the benefit: result of the advantage; let customer talk: trial close (question).
• The sequence should be used throughout the presentation.

SELL Sequence Example

• Feature: "This equipment is made of stainless steel."
• Advantage: "Which means it won’t rust."
• Benefit: "The real benefit is that it reduces your replacement costs by approximately 12% each year."
• Trial Close: "What are your thoughts?"

Another SELL Sequence Example (LED lights and sensors)

• Feature: "The sensors are fully customizable and detect each unique individual in your lab areas."
• Advantage: "The sensors provide you with an ability to customize your lighting requirements based on the needs of the user," reducing the need for manual adjustments.
• Benefit: "Hence, your firm will increase its efficiency by reducing the time and labor needed to operate the lighting across your 500 lab settings."
• Trial Close: "How do you think your employees would feel about using the sensors?"

Examples of Features, Advantages, Benefits and Trial Closes

• Feature: Product made of stainless steel.
• Advantage: Will not rust or deteriorate, increasing lifespan.
• Benefit: Reduces replacement cost and total cost of ownership.
• Trial Close: "How does that sound to you?".
• Feature: Supermarket computer system with the IBM 3651 Store Controller.
• Advantage: Stores and rapidly retrieves more information by supervising up to 24 grocery checkout scanners/terminals and looks up prices on up to 22,000 items.
• Benefit: Provides greater accuracy in register balancing, store ordering, and inventory management.
• Trial Close: "How does this solution align with your objectives?".
• Feature: Five percent interest on money in bank checking NOW account.
• Advantage: Earns interest that would not normally be received.
• Benefit: The extra money is equivalent to one extra bag of groceries each month.
• Trial Close: "Would you like to earn extra money on your savings?".

Three Levels of Listening

• Marginal Listening: Minimal concentration, easily distracted, high risk of misunderstanding.
• Evaluative Listening: More concentration, focuses on speaker's words but not intent, prepares a response instead of understanding.
• Active Listening: Refrains from evaluation; attempts to understand the other person's perspective and meaning, giving verbal/nonverbal feedback.

Active Listening Guidelines

• Stop talking and aim to listen 80% of the time.
• Show the prospect you want to listen by paying attention.
• Watch for nonverbal messages and project positive signals.
• Recognize feelings and emotions; ask questions to clarify meaning.
• Restate the prospect’s position for clarification.
• Listen to the full story, take notes, and summarize key points briefly.
• Use appropriate body language.
• Keep interpreting and assessing the prospect's challenges, pains, and opportunities.
• Keep asking yourself how to assist the prospect.

Three Rules for Using Questions

• Only ask questions with anticipated answers or that won't lead to difficult situations.
• Pause after asking a question; listen carefully, and be flexible to change your planned approach.

Transitions

• Transitions maintain conversational flow by linking ideas or sections of a conversation.
• They can link rapport, agenda, and needs discovery sections.
• Example: Transition from discussing personal interests (golf) to the business agenda (financial elements). The goal is to discuss business risk and liability.

Elements That Enhance Sales Presentation Success

• Asking great questions, listening more than you talk, combining listening and questioning skills, and storytelling.
• Questioning enables learning, allows customer to share information, and demonstrates interest.
• Great salespeople listen, take notes, interpret nonverbal cues, recognize emotions, restate customer perspective and actively interpret communication.
• Combining listening and questioning leads to talking less and a better understanding of needs.
• Storytelling creates understanding through narratives.
• It reinforces solutions, builds credibility, and helps customers learn; Stories aid audience understanding and retention.

Where to Find Customer Profile Information

• Customer relationship management (CRM) systems; files and order history, colleagues, and online resources like LinkedIn, D&B Hoovers, Manta.com, and Bizstats.com.

Pre-Approach: Customer Benefit Plan

• Focuses on using research and uncovered needs to devise solutions and prepare FABs, marketing plan, and business proposition.

Pre-Approach: Develop Sales Presentation

• Create an opening (rapport, agenda, discovery) and prepare FABs, marketing plan, business proposition, suggested purchase order, and a natural closing method.

Video Conferencing

• Video conferencing facilitates interaction, screen sharing, and interactive conversations across the world; it requires specific communication skills and can be used to hold meetings, introduce new products, and demonstrate features/benefits.

Considerations for Video Conferencing

• Practicing the technology, understanding viewer perspective, and planning for technical glitches.
• Consider your background, ensuring a quiet room and appropriate lighting; choose clothing carefully to avoid distracting patterns.

Presentation Difficulties

• Offer to leave the room During interruptions is personal or confidential.
• Only discuss the competition if necessary, acknowledge them briefly, and compare products in detail when needed.