Professional Salesmanship PDF

Introduction to Professional Salesmanship Effective professional salesmanship is the foundation for building successful and successful and lasting customer relationships. It requires a deep understanding understanding of customer needs, exceptional product knowledge, and the and the ability to commu...

Introduction to Professional Salesmanship Effective professional salesmanship is the foundation for building successful and successful and lasting customer relationships. It requires a deep understanding understanding of customer needs, exceptional product knowledge, and the and the ability to communicate value persuasively. by JANETTE CARABEO Customer-Centric Approach Understand Needs Provide Solutions Build Trust Truly listen to customers to Recommend products and Earn the customer's uncover their unique pain services that directly address confidence by demonstrating points and desired outcomes. address the customer's your expertise and acting in specific requirements. their best interests. Building Lasting Relationships 1 Rapport Building Establish a personal connection with the customer through active listening and empathy. 2 Ongoing Support Proactively follow up and provide exceptional post-sale support support to foster loyalty. 3 Referrals & Retention Exceed customer expectations to encourage positive word-of- word-of-mouth and repeat business. Developing Product Knowledge 1 Features & Benefits 2 Unique Selling Points Deeply understand how your Identify the key your products and services differentiators that set your services can solve customer your offerings apart from the customer problems. the competition. 3 Industry Trends 4 Competitive Landscape Stay up-to-date on market market dynamics and Analyze rival products and emerging customer needs. and services to position your needs. your solutions effectively. Effective Communication Techniques Active Listening Storytelling Fully engage with the customer, Use compelling narratives to customer, ask insightful illustrate how your products have questions, and reflect back their solved similar problems. their concerns. Body Language Tone & Pacing Maintain positive, open body Modulate your voice to convey language to build rapport and convey enthusiasm and empathy, and demonstrate confidence. empathy, and adjust your pace to pace to the customer's needs. needs. Handling Objections and Negotiation Identify Concerns Actively listen to understand the customer's underlying objections objections or hesitations. Respond Positively Reframe objections as opportunities to provide additional value value and address needs. Reach Agreement Collaborate with the customer to find a mutually beneficial beneficial solution through negotiation. Ethical Conduct Integrity Professionalism Always act with honesty, Maintain the highest standards of transparency, and in the best of behavior and expertise in all interests of the customer. customer interactions. Accountability Compliance Take responsibility for your actions Adhere to all relevant laws, actions and follow through on all regulations, and company policies to all commitments made to customers. policies to protect both the customer customers. customer and the business. Adaptability Changing Market Conditions Quickly pivot your approach to address evolving customer customer needs and competitive landscapes. Customer Diversity Tailor your communication style and product recommendations recommendations to individual customer preferences. Technological Innovation Embrace new sales tools and techniques to enhance the the customer experience and improve efficiency. Resilience Positive Mindset Continuous Learning Perseverance Maintain a solutions-oriented Actively seek out feedback Persistently follow up with attitude, even in the face of and opportunities to develop customers and never give up rejection or setbacks. your professional skills. on closing a sale. The Role of Professional Salesmanship Revenue Generation Customer Retention Effective sales professionals are Building strong customer are the key drivers of a relationships leads to repeat company's financial success. business and positive referrals. referrals. Brand Positioning Growth Opportunities Salespeople are the public face Exceptional sales performance face of the company, shaping performance opens the door to shaping the brand's reputation. door to career advancement and reputation. and leadership roles. Professional Salesmanship UNDERSTANDING BUYER BEHAVIOR By: Janette C. Carabeo Bataan Peninsula State University - Balanga Campus  BPSU - Balanga campus LEARNING OBJECTIVES: Understand the difference between consumer and organizational buying process. Identify key factors influencing buying decisions Learn how to conduct needs analysis and problem- solving Develop strategies for building trust and rapport with potential buyers  BPSU - Balanga campus CONSUMER BUYING PROCESS Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Need Information Evaluation of Purchase Post - Purchase Recognition Search Alternatives Decision Behavior Sources of Criteria used for Factors Importance of Triggering Information consumers influencing the customer Factors final decision satisfaction Internal vs Role of the Importance of Role of handling External stimuli internet and product salespersons cognitive social media attributes dissonance  BPSU - Balanga campus Organizational Buying Process Stage 1 Stage 5 Problem Recognition Proposal Solicitation Stage 2 Stage 6 General need description Supplier Selection Stage 3 Stage 7 Product Specification Order-routine Specification Stage 4 Stage 8 Supplier Search Performance Review  BPSU - Balanga campus FACTORS INFLUENCING BUYING DECISIONS CULTURAL PERSONAL Age & life-cycle Culture stage Subculture Occupation Social class Economic Situation Lifestyle Personality & sel- concept SOCIAL Reference Groups PSYCHOLOGICAL Family Motivation Roles and Status Perception Learning Beliefs and Attitudes  BPSU - Balanga campus TARGET MARKET Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum dolor sit amet, dolor sit amet, dolor sit amet, dolor sit amet, consectetur consectetur consectetur consectetur adipiscing elit. adipiscing elit. adipiscing elit. adipiscing elit. Nam vel Nam vel Nam vel Nam vel fermentum dolor, fermentum dolor, fermentum dolor, fermentum dolor, scelerisque scelerisque scelerisque scelerisque elementum ex. elementum ex. elementum ex. elementum ex.  BPSU - Balanga campus CULTURAL FACTORS Adapting marketing campaigns to resonate with specific cultural values and traditions. Recognizing the influence of subcultures on product preferences and communication styles. Tailoring pricing and product features to match the expectations of different social classes.  BPSU - Balanga campus SOCIAL FACTORS Leveraging social media influencers or testimonials from respected figures within a reference group. Highlighting how your product or service can benefit the whole family. Emphasizing how your offering aligns with the desired status or image of your target audience.  BPSU - Balanga campus PERSONAL FACTORS Offering products or services tailored to the needs of specific age groups or life stages. Providing solutions that address the challenges faced by people in specific occupations. Adjusting pricing and payment options to cater to different economic situations. Highlighting how your offering complements the lifestyle and values of your target audience. Creating messaging that resonates with the personality and self-concept of potential buyers.  BPSU - Balanga campus PSYCHOLOGICAL FACTORS Crafting compelling messages that tap into the core motivations of your target audience. Addressing potential concerns and misconceptions to manage perceptions effectively. Providing educational resources and demonstrations to enhance learning and understanding. Aligning your messaging with the beliefs and attitudes of potential buyers to build trust and rapport.  NEEDS ANALYSIS AND PROBLEM SOVING Importance of Needs Analysis: Understanding the customer's pain points and challenges Identifying their explicit and implicit needs Tailoring your solution to their specific requirements BPSU - Balanga campus NEEDS ANALYSIS AND PROBLEM SOVING Questioning Techniques Open-ended questions to encourage deeper conversation Probing questions to uncover underlying needs Clarifying questions to ensure understanding BPSU - Balanga campus  NEEDS ANALYSIS AND PROBLEM SOVING Problem-Solving Approach Position your product or service as the solution to their problems Highlight the benefits and value proposition Address any potential objections or concerns BPSU - Balanga campus  BPSU - Balanga campus BUILDING TRUST AND RAPPORT Key Elements of Trust: Competence Reliability Integrity Empathy  BPSU - Balanga campus BUILDING TRUST AND RAPPORT Strategies for Building Trust: Follow-through Active Listening Genuine Interest Transparency on Commitments  BPSU - Balanga campus BUILDING TRUST AND RAPPORT Establishing Rapport: Finding Common Mirroring and Using Positive Humor (When Ground Matching Body Language Appropriate)  BPSU - Balanga campus BUILDING TRUST AND RAPPORT Importance of Long-Term Relationship: Customer Retention Repeat Business Referrals  REAL WORL EXAMPLES: NIKE'S "JUST DO IT" CAMPAIGN BPSU - Balanga campus  REAL WORL EXAMPLES: SALESFORCE'S CUSTOMER-CENTRIC APPROACH BPSU - Balanga campus  REFERENCES Solomon, M. R. (2014). Consumer Behavior: Buying, Having, and Being (11th ed.). Pearson. Kotler, P., & Keller, K. L. (2015). Marketing Management (15th ed.). Pearson. Schiffman, L. G., & Kanuk, L. L. (2010). Consumer Behavior (10th ed.). Pearson. BPSU - Balanga campus Professional Salesmanship EFFECTIVE COMMUNICATION SKILLS By: Janette C. Carabeo Bataan Peninsula State University - Balanga Campus  BPSU - Balanga campus LEARNING OBJECTIVES: Develop effective communication skills to establish rapport, build trust, and understand customer needs in sales interactions. Master active listening and questioning techniques to gather information, uncover customer motivations, and guide the sales conversation. Create and deliver persuasive sales presentations that tell a compelling story and highlight the value proposition of the product or service. Learn how to handle objections and concerns professionally and effectively, turning them into opportunities to build trust and close deals.  BPSU - Balanga campus THE POWER OF EFFECTIVE COMMUNICATION Communication is the cornerstone of sales success. Effective communication builds trust, establishes rapport, and fosters understanding. Need Information It involves Recognition not just speaking, Search but also active listening and non- verbal cues. Triggering Sources of Factors Information It involves not just speaking, but also active listening and non- verbal cues. Role of the internet and Role of social media salespersons  BPSU - Balanga campus ACTIVE LISTENING: THE KEY TO UNDERSTANDING Active listening involves fully focusing on the speaker, understanding their message, and responding thoughtfully. It goes beyond hearing words; it's about Needunderstanding the underlying emotions and needs. Information Recognition Search Active listening builds Sources rapport, of shows respect, and helps you gather Information valuable information about your customer. Role of the internet and Techniques: Paraphrasing, social media summarizing, asking clarifying questions, and using nonverbal cues like nodding and eye contact.  CASE SCENARIO: BPSU - Balanga campus  BPSU - Balanga campus QUESTION: Which of the following is NOT a characteristic of active listening? A. Paraphrasing the speaker's words to ensure understanding B. Interrupting the speaker to offer solutions C. Maintaining eye contact and nodding to show engagement D. Asking clarifying questions to gain deeper insights  BPSU - Balanga campus QUESTION: Which of the following is NOT a characteristic of active listening? A. Paraphrasing the speaker's words to ensure understanding B. Interrupting the speaker to offer solutions C. Maintaining eye contact and nodding to show engagement D. Asking clarifying questions to gain deeper insights  BPSU - Balanga campus QUESTIONING TECHNIQUE Questions are powerful tools for: Uncovering customer needs and pain points Need Information Guiding the conversation Recognition Search Sources of Factors Building rapport and Triggering Information demonstrating genuine interest internet and Role of the Role of social media salespersons  BPSU - Balanga campus QUESTIONING TECHNIQUE Types of Questions: Need Open-ended Information questions Recognition Probing Searchquestions Triggering Sources of Factors Closed-ended Information questions Role of the internet and Role of social media salespersons  BPSU - Balanga campus CASE SCENARIO: A salesperson is meeting with a potential client who is interested in upgrading their company's IT infrastructure. What types of questions can the salesperson ask to uncover the client's specific needs and pain points?  BPSU - Balanga campus PERSUASIVE PRESENTATION Persuasive presentations tell a compelling story that resonates with your audience. They should: Clearly articulate the problem your Need product or service solves. Information Recognition Search Highlight the benefits and value proposition Sources of Triggering Factors Information Use visuals, data, and testimonials to Role of the support your internet claims and Role of salespersons social media End with a strong call to action  BPSU - Balanga campus CASE SCENARIO: A salesperson is presenting a new marketing automation software to a group of marketing managers. How can they structure their presentation to be persuasive and engaging?  BPSU - Balanga campus STORYTELLING IN SALES Stories are powerful tools for persuasion because they tap into emotions and create a lasting impression. Use stories to: Illustrate how your product or service has helped others Overcome objections Make your message more relatable and memorable  BPSU - Balanga campus CASE SCENARIO: A salesperson is selling a life insurance policy to a young couple. How can they use storytelling to emphasize the importance of financial security for their family's future?  BPSU - Balanga campus HANDLING OBJECTIONS Objections are a natural part of the sales process. View them as opportunities to: Clarify information Address concerns Role of salespersons Build trust  BPSU - Balanga campus HANDLING OBJECTIONS Techniques in handling objections: Listen actively and empathize Restate the objection to ensure understanding Provide a thoughtful and relevant response Offer solutions or alternatives  REAL WORLD EXAMPLE: APPLE Apple's success is not just about innovative products; it's also about their masterful communication strategies. BPSU - Balanga campus  REAL WORLD EXAMPLE: APPLE BPSU - Balanga campus  IMPACT OF EFFECTIVE COMMUNICATION BPSU - Balanga campus BPSU Balanga Campus NEGOTIATION, CLOSING, AND CUSTOMER RELATIONSHIP MANAGEMENT "Successful businesses understand that negotiation isn't about winning or losing, Professional it's about finding common ground and creating mutually beneficial outcomes. Salesmanship When you pair that with strong customer relationships built on trust and understanding, you lay the foundation for long-term success."  Learning Objectives Understand and apply key principles of Recognize the importance of Customer negotiation to achieve mutually beneficial Relationship Management (CRM) in agreements in sales situations. fostering long-term customer loyalty, increasing sales, and driving business Identify and utilize effective negotiation growth. strategies and tactics to overcome objections, create value, and reach Develop strategies for handling rejection successful outcomes. and stalls in a professional and positive manner, maintaining relationships and Master various closing techniques such seeking future opportunities. as the direct close, assumptive close, and alternative close to confidently secure sales.  Negotiation and Closing Negotiation is a give-and-take process aimed at reaching a mutually beneficial agreement. Closing refers to the final stage where the agreement is finalized and the deal is sealed. Key Principles: Preparation is the key Focus on interests, not positions Maintain open communication and build rapport Common Negotiation Strategies and Tactics: Anchoring Framing Active Listening Concessions Creating Value  Closing Techniques TYPES OF CLOSING TECHNIQUES: 1. Direct Close - Directly asking for the sale 2. Assumptive Close - Assuming the sale is already made and proceeding CLOSING with next steps is the culmination of the sales 3. Alternative Close - Offering the process - asking for the customer's commitment customer a choice between options, both leading to a sale  Handling Objection and Stalls “Rejection and stalls are common in sales - don't take it personally” HANDLING REJECTION: HANDLING STALLS Maintain professionalism and composure Identify the underlying concerns causing the Try to understand the reasons behind the stall rejection Address those concerns and provide Use it as a learning opportunity for future reassurance interactions Reiterate the value proposition and benefits CRM Customer Relationship Management WHAT IS CUSTOMER RELATIONSHIP MANAGEMENT (CRM?) DEFINITION PURPOSE Customer Relationship The primary goal of CRM is to Management (CRM) refers to improve customer the strategies, practices, and relationships, leading to technologies that businesses increased customer loyalty, use to manage and analyze retention, and ultimately, interactions with their business growth. customers throughout the customer lifecycle.  "It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages." - Henry Ford, Founder of Ford Motor Company  Importance of CRM Increases customer retention and loyalty Improves customer satisfaction Boosts sales and revenue Provides valuable customer insights  CRM STRATEGIES FOR CUSTOMER RETENTION AND LOYALTY 1. Personalized communication and 4. Proactive problem-solving offers 5. Building emotional connections 2. Excellent customer service 3. Loyalty programs and rewards CRM Strategies  CRM FOCUS ON CREATING VALUE FOR THE CUSTOMER BEYOND Building THE INITIAL SALE Long-Term STAY IN TOUCH AND PROVIDE ONGOING SUPPORT Customer Relationship SEEK FEEDBACK AND CONTINUOUSLY IMPROVE "Your most unhappy customers are BUILD TRUST AND BECOME A your greatest source of learning." TRUSTED ADVISOR Bill Gates KEY METRICS TO TRACK Measuring CRM Effectiveness CUSTOMER SATISFACTION CUSTOMER RETENTION AND LOYALTY SCORES RATE KEY METRICS TO TRACK Measuring CRM Effectiveness RETURN ON CUSTOMER INVESTMENT REFERRAL RATE LIFETIME VALUE (ROI) ON CRM EFFORTS WHAT WILL YOU DO? Sample Scenarios CASE #1 NEGOTIATION A customer wants a discount, but you need to maintain profit margins. How would you negotiate a win-win solution? WHAT WILL YOU DO? Sample Scenarios CASE #2 CLOSING A customer seems interested but hesitant. Which closing technique would you use, and why? WHAT WILL YOU DO? Sample Scenarios CASE #3 CRM How would you use CRM to improve customer retention for a subscription- based service?