ENT4122 Ch7 Sales Dialogue Communicating Value PDF

ENT4122: Go to Market Strategies Ch. 7 - Sales Dialogue: Creating & Communicating Value 7.1: Tips for Conducting Virtual Sales Calls 1. Use a high-speed, reliable internet connection. 2. Choose an appropriate virtual meeting software such as Zoom, Skype, Google Meet, Webex, or Microsoft Teams an...

ENT4122: Go to Market Strategies Ch. 7 - Sales Dialogue: Creating & Communicating Value 7.1: Tips for Conducting Virtual Sales Calls 1. Use a high-speed, reliable internet connection. 2. Choose an appropriate virtual meeting software such as Zoom, Skype, Google Meet, Webex, or Microsoft Teams and learn how to use all its features. 3. Invest in quality equipment including a laptop or PC, earphones, and a microphone. 4. To better engage the buyer, prepare and distribute an agenda prior to the meeting soliciting the buyer’s input. 5. Make sure your setting is adequately lit, has a professional background and seating for confident positioning. 6. Place your camera at eye level and look into it when speaking. 7.1: Tips for Conducting Virtual Sales Calls 7. Limit distractions; place yourself on mute when not speaking; turn off your phone and silence alerts. 8. Be sure to establish rapport when opening the meeting just as you would in an in-person meeting. 9. Be aware of facial and other gestures; make sure your speed, tone and volume reflect the message you want to send. 10.For meetings expected to last over 90 minutes, consider when and how you will take a break. 11.Develop a backup plan to deal with technical issues (e.g., audio or video not working; presentation will not load). 7.2: Keys to Effective Sales Dialogue The most effective sales dialogues: Are planned and practiced by salespeople. Encourage buyer feedback. Focus on creating value for the buyer. Present value in an interesting and understandable way. Engage and involve the buyer. Support customer value through objective claims. 7-2 Encouraging Buyer Feedback The salesperson continually assesses and evaluates the reactions and responses of prospective buyers. Feedback provides the salesperson with important information measuring: - The climate between the salesperson and the buyer. - The buyer’s level of interest in the product’s features and benefits. - How well the presentation is progressing toward the buyer’s purchase decision. 7-2 Encouraging Buyer Feedback Check-backs or response checks: Questions salespeople use throughout a sales dialogue to generate feedback from the buyer. - Confirm benefits and assess a prospective buyer’s level of interest - Evaluate the level to which the salesperson has handled a buyer’s objection 7-3 Creating Customer Value A salesperson should: - Identify confirmed benefits for the buyer. Confirmed benefits: The benefits the buyer indicates are important and represent value. - Present a recommended solution. Emphasize product features that will produce the confirmed benefits desired by the buyer Creating and communicating value helps maintain relationships with existing customers. 7-4 Interesting and Understandable Sales Dialogue Present selling points in an interesting and understandable manner to the buyer by employing verbal support elements: - Voice characteristics - The pitch, speed, and volume of speech, which salespeople should vary to emphasize key points. - Example - A brief description of a specific instance used to illustrate features and benefits of a product. - Anecdote - A type of example that is provided in the form of a story describing a specific incident or occurrence. - Comparison - A statement that points out and illustrates the similarities between two points. - Contrast - Making a statement that points out and illustrates the differences between two points. - Analogy - A special and useful form of comparison that explains one thing in terms of another. 7-5 Engaging and Involving the Buyer Salespeople utilize various sales aids* to engage and involve the buyer throughout the sales interaction. - Visual materials: Sales aids such as printed materials, photographs and illustrations, and charts and graphs - Electronic materials: Sales aids such as slides, videos, or multimedia presentations. - Product demonstrations 7.5: Reasons for Using Sales Aids Capture prospective buyer’s attention. Generate interest in the recommended solution. Make presentations more persuasive. Increase the buyer’s participation and involvement. Provide the opportunity for collaboration and two-way communication. Add clarity and enhance the prospect’s understanding. Provide supportive evidence and proof to enhance believability. Augment the prospect’s retention of information. Enhance the professional image of the salesperson and selling organization. 7.6 Tips for Preparing Visual Materials Keep them simple. Use phrases and let the buyer’s mind complete the sentences. Use the same layout and format throughout to tie the presentation together. Check for typographical and spelling errors. Use colors sparingly and for functional rather than decorative purposes. Leave plenty of white space; do not crowd the page. 7.6 Tips for Preparing Visual Materials Each visual should present only one idea. Target using a maximum of seven words per line and seven lines per visual. Use graphics (charts and graphs) rather than tables. Use bullet points to emphasize key points. Never read the presentation directly from the visual. Clearly label each visual with titles and headings to guide the prospective buyer. Exhibit 7.7: Guidelines for Product Demonstrations Ensure that the appearance of the product is neat and clean. Check for problem-free operation. Be confident and able to demonstrate the product skillfully. Practice using the product prior to the demonstration. Anticipate problems and have back-up or replacement parts on hand. Make sure that setup and takedown are easy and quick. Exhibit 7.7: Guidelines for Product Demonstrations Exhibit 7.7: Guidelines for Product Demonstrations Product Demonstrations For those of you in fashion, how do you demonstrate your product? 7-5 Engaging and Involving the Buyer S: State selling point and introduce the sales aid P: Present the sales aid E: Explain the sales aid S: Summarize 7-6 Supporting Product Claims Proof providers*: support claims of benefits and value produced. - Statistics*: Facts that lend believability to product claims and are used as proof providers. - Testimonials*: Proof providers that are in the form of statements from satisfied users of the selling organization’s products and services. - Case histories*: A testimonial in story or anecdotal form used as a proof provider. 7-7 Group Sales Dialogue Involves salespeople interacting with buyer groups Salespeople should: - Prepare for tough questions from the buyers - Engage in preselling* (presenting the product or service to individual buyers before a major sales dialogue with a group of buyers) Sales tactics for group presentations fall into three general categories - Arrival tactics: Arriving and setting up before the arrival of the buying group - Eye contact: Making periodic eye contact with each member of the buying group - Communications tips during presentation delivery: Soliciting opinions and feedback from each member of the buying group and avoiding taking sides 7-7 Group Sales Dialogue To handle questions that arise during the meeting: - Listen carefully and maintain eye contact with the person asking the question. - Repeat or restate the question to ensure understanding. - Confirm with the questioner that you adequately addressed their question. - Show proper respect to the person asking the question. 7-7 Group Sales Dialogue - Address the entire group while answering a question from an individual. - Capture the essence of the buyer’s concern accurately. - Do not attempt to answer a question until salesperson and group members clearly understand the question. - Do not attempt to answer questions that you are not prepared to answer. - Answer questions as succinctly and convincingly as possible. Communication Tips Make all members of the group feel that their opinions are valuable Avoid being caught in the middle of disagreements between members of the buying group Be diplomatic as a participant in discussions that might develop between the group Communication Tips Maintain eye contact with group members. Think of slides and other visual aids as support tools, not as material to be read to the group. When possible salespeople should stand to the left of visual aids, as people read right to left. Communication Tips Body Language - Can add or detract to sales effectiveness in the group setting. - Posture should be energetic yet relaxed. - Conventional wisdom dictates that presenters should avoid contact with their own bodies while presenting. Conclusion Professor Roberts Email: [email protected] Office: 144 RSB