Professional Salesmanship - Chapter 1 Lessons 2 and 3 PDF

Chapter 1: Lessons 2 and 3 Salesmanship as a Career  Salesmanship Salesmanship is a skill used by a salesperson in personal selling. Salesmanship is an art of face-to-face communication between a seller and a buyer where the seller uses his persuasion skills to encourage the buye...

Chapter 1: Lessons 2 and 3 Salesmanship as a Career  Salesmanship Salesmanship is a skill used by a salesperson in personal selling. Salesmanship is an art of face-to-face communication between a seller and a buyer where the seller uses his persuasion skills to encourage the buyer to make the final purchasing decision.  Salesmanship Therefore, knowing the product is not sufficient for a salesperson. He has to deal with different customers differently, which requires a plethora of skills. For example, sometimes, a salesperson is needed to act as a friend with one customer and as a human-computer with another customer.  Salesmanship Salesmanship can be defined as the ability of a person to sell a product or service to a customer by removing their ignorance and doubtfulness about the product in such a way that both the buyer as well as the seller gets to benefit from the deal. It also includes the ability to generate a need for the product and to make customers want the product.  Modern Concept of Salesmanship Old Concept Telling and Selling New Concept Need Recognition and Customer Relationship Sales Process  Sales Process Prospecting The first step in the sales process is prospecting. In this stage, you find potential customers and determine whether they have a need for your product or service— and whether they can afford what you offer. Evaluating whether the customers need your product or service and can afford it is known as qualifying.  Sales Process Preparation The next step is preparing for initial contact with a potential customer, researching the market and collecting all relevant information regarding your product or service. Develop your sales presentation and tailor it to your potential client’s particular needs. Preparation is key to setting you up for success. The better you understand your prospect and their needs, the better you can address their objections and set yourself apart from the competition.  Sales Process Approach Next, make first contact with your client. This is called the approach. Sometimes this is a face-to- face meeting, sometimes it’s over the phone. There are three common approach methods. 3 Types of Approach: 1. Premium Approach 2. Product Approach 3. Question Approach Sales Process Approach 3 Types of Approach: Premium Approach Presenting your potential client with a gift at the beginning of your interaction. Sales Process Approach 3 Types of Approach: Product Approach Giving the prospect a sample or a free trial to review and evaluate your service, Sales Process Approach 3 Types of Approach: Question Approach Asking a question to get the prospect interested.  Sales Process Presentation In the presentation phase, you actively demonstrate how your product or service meets the needs of your potential customer. The word presentation implies using PowerPoint and giving a salesy spiel, but it doesn’t always have to be that way—you should actively listen to your customer’s needs and then act and respond accordingly.  Sales Process Handling Objections Perhaps the most underrated step of the sales process is handling objections. This is where you listen to your prospect’s concerns and address them. It’s also where many unsuccessful salespeople drop out of the process— 44% of salespeople abandon pursuit after one rejection, 22% after two rejections, 14% after three, and 12% after four, even though 80% of sales require at least five follow-ups to convert. Handling objections and alleviating concerns separates good salespeople from bad and great from good. Sales Process Handling Objections  Sales Process Closing Sales In the closing stage, you get the decision from the client to move forward. Depending on your business, you might try one of these three closing techniques.  Sales Process Closing Sales ALTERNATIVE CHOICE CLOSE: Assuming the sale and offering the prospect a choice, where both options close the sale—for example, “Will you be paying the whole fee up front or in installments?” or “Will that be cash or charge?”  Sales Process Closing Sales EXTRA INDUCEMENT CLOSE: Offering something extra to get the prospect to close, such as a free month of service or a discount Sales Process Closing Sales STANDING ROOM ONLY CLOSE: Creating urgency by expressing that time is of the essence—for example, “The price will be going up after this month” or “We only have six spots left”  Sales Process Follow - ups Once you have closed the sale, your job is not done. The follow-up stage keeps you in contact with customers you have closed, not only for potential repeat business but for referrals as well. And since retaining current customers is six to seven times less costly than acquiring new ones, maintaining relationships is key. Role of Selling in Marketing Is selling the same as marketing? Role of Selling in Marketing  TOP FIVE Types of Selling AGGRESSIVE SELLING In this type, the only intention of a salesperson is to sell the product in one shot.  TOP FIVE Types of Selling CONSULTATIVE SELLING This type of selling believes in building trust with their customers. A sales representative’s primary object is not selling the product but building a relationship with their client.  TOP FIVE Types of Selling NEED ORIENTED SELLING Here, a seller has to perform a smart job by observing the movements and words of a customer. Under this form, a sales representative notices the customer accurately by asking different questions and assessing the customer needs.  TOP FIVE Types of Selling PRODUCT-ORIENTED SELLING This method of selling is based on product features and benefits; the salesperson explains everything about the product until the customer is completely satisfied. Providing demos are part of this selling process.  TOP FIVE Types of Selling COMPETITION ORIENTED SELLING Under this form, the sales representative believes in staying one step ahead of the competition. They believe in convincing the customers to purchase the product and never accept a no for an answer. Sales Management Sales management can be seen as a segment of the organization’s marketing mix. It deals with the formation of sales strategies, product merchandising and pricing, sales promotion activities, distribution function, and planning, staffing, supervising, motivating, and controlling of sales personnel to attain the desired sales objectives. Sales Management Sales Management Goal Oriented Similar to other management activities, sales management also has a specific purpose and is intended to achieve specified goals or objectives. Sales Management Continuous Process The sales manager needs to perform sales management functions regularly, and this process is never-ending. Sales Management Systematic Approach It is an organized way of handling the sales function of the company where every problem has a defined and proven solution. Sales Management Relationship Selling The salespeople make efforts to build a strong customer relationship to sell the products or services effectively. Sales Management Marketing Management Integration Marketing is a broader concept; marketing management includes all the activities related to sales management. Sales Management Different Sales or Job Position It is the combined efforts of the whole sales team, including the salesperson, sales executive, sales head, sales manager, and after-sales service personnel. Sales Management Pervasive Function It is a universally applicable concept which has been adopted and tested by every kind of business organizations. In conclusion, Sales Management Sales management is a vital part of any business organization. It not only makes the products or services available to the customers but also supports the organization to sustain competition in the long run. TAKEAWAYS