Exam 2 Flashcards
What is ACV%
It is total retail dollar sales for an entire store across all products and categories.
Rather than a measure of physical size, like square footage, ACV reflects how much total business is done in that outlet.
Magnus Bonus Question. How old is he?
Magnus is 7 years old.
5 Tools that will help ensure sales success:
The right:
Knowledge.
Technology
Networking
Positioning.
Motivation.
The one trait successful salespeople demonstrate more consistently than any other is
constant prospecting
Important! Prospecting is not simply “cold calling” potential buyers
True
The 3 major concepts of prospecting:
Qualify Leads:
Nurture Leads.
Add Value.
Define Qualify Leads:
Figure out how to build the pipeline and get the oil flowing.
Define Nurture Leads:
A nurturing process keeps you in touch with prospects until they’re ready to see you.
Define Add Value:
Share relevant and insightful information based on your research about prospects and their company
You have to convey to sales leads, as quickly and effectively as possible, that you have an answer to one of their _____
Pain Points
Referral Prospecting:
Have the referral source make the initial contact.
Learn how to ask for a referral
Find a referral source’s ideal way for you to reach out to their leads.
Logical time to ask is right after a successful close.
Center of Influence Prospecting:
Can give you far more prospects.
Willing and able to provide names.
Examples: People who believe in you and what you sell, willing to give you names on a regular basis, influential with a significant number of people, names given are at least partially qualified prospects.
Group Prospecting
Bringing a number of people together at the same time and place with a shared potential need in order to present your sales opportunity.
Prospecting: Hunting and Farming.
A salesperson with a hunting orientation tends to focus more on securing a new customer through lead generation, prospecting, pre-calling, and delivering sales.
In contrast, a farming orientation focuses on selling to existing customers by building relationships.
Chapter 9 Break:
What is the Pre-Approach.
Pre-Approach is the planning and preparation done proper to actual contact with the prospect or buyer.
Pre-Approach allows you to be less mechanical, anticipate problems, and plan ways to handle them.
Building Rapport with Gatekeepers.
Show them respect
Be honest about your intentions.
Sell to the gatekeeper.
Question Gatekeepers.
Be thoughtful, be patient.
What is telemarketing?
An activity that utilizes telecommunications and information systems, combined with personal selling and servicing skills, to help salespeople keep in close contact with customers, increase sales, and enhance productivity.
The Six-Step Telephone Track.
Introduce yourself and your company.
Provide a Tangible Benefit.
Personalize the Call.
Take the pressure off the call.
Overcome Resistance.
Request an Appointment.
Chapter 10 BREAK
BREAK
Objectives of the Approach.
1: To make a favorable or positive impression on the prospect / buyer.
2: To gain the prospect/buyers undivided attention.
3: To develop positive interest in your proposition.
4: To lead smoothly into the need discovery phase of the interview.
First Impression:
4 minutes is the average time that prospects take to decide whether to buy from you.
You only get one shot, so make it count: Visual Factors, professional habits, building rapport, physical actions.