Marketing Final Flashcards
Today’s buyer
better informed, have higher expectations, and demand than ever before
Win-Win Selling
Stay side by side to ensure satisfaction
Buyer’s expectations
Salesperson is knowledgeable, up to date, and able to answer questions
Product and People Knowledge: Which is the front and back tire
Product knowledge= Back tire: Need back tire to move/ need to know about our product
People knowledge: Front tire steers the conversation
4 Stages of Skill Learning
- Unconcious incompetence
- Conscious incompentence
- Conscious competence
- Unconcious competence
Unconcious incompetency
No knowledge of skill area, but we don’t know of skill of knowledge
Concious incompetency
Making person aware that they are missing a skill (Awareness Building)
Consciously competent
Know you have a skill but it isn’t mastered (Skill Building)
Unconciously competent
Do what works and know why it works (New Habit)
Salesperson’s job
Not to sell the products, but to help the prospect buy
Counselor that helps through process
Two types of problems
Task
relationship
Definition of Win Win
Establishes Trust
Uncovers Problem
Help Solve problem
Offer Support
4 Categories of Rejection
No Trust
No Need
No Help
No Satisfaction
When you’re buying a product, what are you buying?
A solution
Why is there no trust between sales people?
No trust= no action on task/ time
Time Tension Model
Tension=Y Time=X Task Tension=Positive Slope Relationship Tension=Negative Slope Innefective communication= Left Butterfly Purposeful communication=Right Butterfly
Why consumer have no trust
Haven’t met you before
Used to dealing with someone else
I know what your kind is like (Stereotype)
High relationship tension Ex
Reluctance to talk
Minimal info
Wants to move past this tension
Impact percentages
55% Visual
38% Vocal
7% other
Low relationship tension Ex
Talks freely Elaborates Answers Volunteers information Good Eye Contact Body Faces You Open Arm and Hand Movements
Ways to Communicate Empathy
- Ask Questions
2. Listening
Ben Duffy
Put himself in the role of the prospect
4 Credibility expansions
- Properiety
- Competency
- Commonality
- Intent
Propriety
Matching Expectations owith Customer
Behaving appropriately for customers business
Calibrating your behavior to their expectations
Competency
Back Wheel: Technical expertise, knowledge of our product or service
Demonstrating Competency
Describe our problem solving ability
Showing understanding of buyer’s situation
Inviting further discussion
What she would include well Telling
Our Company
Our Products
Ourselves
Commonality
Prospect’s perception of how similar salesperson is.
Indicate your sincere interest
Ask prospect about their ideas/ opinions on the subjeect
Intent
My Role
Helping you solve your problems
Learning all I can about your unique situation
Positive recognition
People hungry for some got dam compliments
Discovery
Prospects know their problems but don’t always know their needs
4 Personal Needs
Power
Respect
Approval
Recognition
Power
Results orientated
Recognition
Risk Takers
Approval
Proven and popular
Respect
Expert
Need to be right
What is problem analysis
Problem-Difference between what you have and what you want
2 types of questioning
- Fact finding questions
2. Feeling-Finding questions
One objective of discovery
To create task tension
3 ways to listen
- Selectively-Taking in what is relevant to your problem
- Responsively-Verbal “Yeah”
- Empathetically- saying what they feel
Discovery agreement
Summarizes what buyer has and what buyer wants
Confirms we know the GAP
Review Present Situation
Objectives
Obstacles
No Help Reasons
- Proposing Wrong Solution
- Solution may be good, but prospect doesn’t clearly understand how will it help
- Prospect has another and “better” solution
- Proposals aren’t responding to prospect’s real buying motives
- They have to understand why your solution is the right match for their problem
Advocating Strategies
- Clear statement of how our product works
- How it solves problem
- How it benefits problem
4 advocating strategy factors
- People
- Buying Criteria
- Decision-Making
- External Conditions
What two key issues does task agenda revolve around
How can we justify purchase
- Operationally
- Financially
Operational Justifications
3 basic questions
- How our solution will do job?
- Is it best for prospect’s situation?
- Will it be best in future?
Financial Justification
- Pay for itself
- Return on Investment
- Price vs cost
Benefit Path
-Begin Presentation with review of Discovery Agreement
3 elements we need in presentation
- Solution-What we are presenting (idea, product, service)
- Advantage- illustration or demonstration of the way solution goes about attacking cause & solving problem
- Benefit- Feeling prospect has when need has been satisfied
Benefit (Gain/ Maintain)
Gain-Feeling front winning
Maintain-avoid falling back
Illustrating/ visualizing
People respond better to pictures than words
The Power of Words
- Present Story in Prospect’s Language
- Going too fast or trying to cover too much- frusturating
- Show rather than tell
Thirds Party Story
Someone similar had a good solution
Assumptive Close
Minimize Negatives Maximize Positives Balance Sheet Cost analysis Options Next Step
Wrapping it all up
Ask for questions or concerns
2 Ways prsospects behave defensively to reduce their tension
Fight/ Flight
Things that can lead to no satisfaction/ factors
Bigger Buying Decision
More People Affected
Less likely decision will be easy
2 jobs on fight or flight
Manage our own tensions
Help prospect understand and deal with theis
Zone of Indifference
Between Satisfaction and dissatisfaction
Need TLC
Tension Revisited
We’ll be there for them for their benefited
Increased tension due to fear of being sold
What do they want from us?
Genuine
Warm, accepting regard for client
Understanding of client’s feeling
LSCPA
Listen Share (We Understand) Clarify Problem Solve (Hidden Agenda) Ask for Action
Clarify
What’s the actual issue
Remaining steps of presenting and asking for action fall into place
3 Methods of clarifying
- Suggest- “Another way to look at this”
- Convert- restate what you think question is
- 3rd party- Neutralize problem/ objection by taking it out of conflict and relating to a similar situation
Final Assurances (4)
Testimonials
Statistics of success
Warranty, guarantee, contract
Free trial period
Ask for Action
Assumptive Close Techniques
Confirm Issue
Set Deadline
What does supporting eliminate?
No Satisfaction
Behaving defensively causes
Fight or flight
When does tension increase
When we feel like we’re being sold
