Personal Selling Flashcards
Salesperson (6 activities)
An individual who represents a company to customers by performing 1 or more activities: (6)
prospecting
communicating
selling
servicing
info gathering
relationship building
Roles of salesforce 4
- Link company with customers
- Represent company to customers
- Represent customers to company
- Coordinate marketing with sales
Represent company to customers role
3 main + 7
- find and develop new customers
- comm. info about company’s products and services
- sell by
- engage customer + learn their needs
- present solutions
- answer objections
- negotiate price and terms
- close sales
- service accounts
- maintain accounts relationship
represent customer to company
- serve customers’ interest (work with others to increase customer value)
- manage buyer-seller relationship
Sales force Management activities (APIC)
Analyze + Plan + Implement + Control
sales force major steps
6
- Design SF strategy and structure
- recruit and select
- train
- compensate
- supervise
- evaluate
Territorial sales force structure
- suitable for 1 product line to 1 industry with customers in many locations
- assigned an exclusive geo. territory - sell the product in full-line
- define each SP Job and responsibility
- small travel expense
- increase SP’s desire to build local customer relationship
Product SF structure
- Suitable: numerous, complex products
- SF specializes in selling only a portion of company product of lines
Customer (market) SF structure
- Sp specializes in selling only to certain customers or industries
- seperate sales force for different industries
-> help build closer relationship with important customers
Complex SF structure
- wide variety of products to many types of customers over a broad geo. area
- combines several types of organizations
Workload approach to set SF sale
- group accounts into different classes according to classes/account status..
- determine no. of SP needed to call on each class of accounts + desired number of time
Outside OR Field SF
SP who travel to call on customers in the field
Inside SF
conduct business from their offices via telephone, online and SM interactions, or visits from prospective buyers
Team selling
Use teams of people from different departments to service large, complex account
> < competitive individual, hard to evaluate individual
4 key talents of salesperson
- intrinsic motivation (drive to excel + strong sense of purpose)
- disciplined work style
- ability to close a sale
- relationship builders
3 things to train salespeople
- Types of customers (needs, behaviors, habits) and how to build relationship with them
- how to sell
- know and identify with company, products and competitors
4 elements of compensation
- fixed amount
- variable ammount (commission, bonus)
- expenses
- fringe benefit
Goal of supervising SF
Help people work smart by doing the right thing in the right way
Goal of motivating SF
encourage ppl to work hard towards goals
ways to supervise 3
- call plan
- time-and-duty analysis
- sales force automation system
Sales quota
- ways to motivate
- a standard that states the amount a salesperson should sell and how sells should be divided among the products
Social selling 3
- use online, mobile, SM to engage customers, build stronger customer relationships and boost sales performance
- need to solve problems and give solutions
- powerful tools in personal selling
Selling process
Steps that SP follow when selling
with 7 steps
7 steps of selling process
- prospect and qualify
- preapproach
- approach
- presentation and demonstration
- handle objections
- close sales
- follow-up
Prospect
- identify qualified potential customer (appreciate and respond to value proposition)
Source to find potential customers
- company’s leads
- referal (best source)
- from current customers
- cultivate from suppliers/dealers/noncompeting SP/online, SM contact
- cold calling
Qualify leads (5 factors)
identify good and bad leads based on
* financial ability
* volume of business
* special needs
* location
* posibilities for growth
Preapproach (5 things)
- learn about prospective customers before making a sales call (characterisitcs, buying styles)
- set call objectives
- determine best approach (personal visit, email, etc)
- ideal timing
- sales strategy
Approach (def. and 3 things)
Meet the customer for the first time
- salesperson’s appearance
- opening lines: positive to build goodwill + key questions/sample
- follow-up remarks
Presentation (Sales)
Tell the “value story” to the buyer, showing how the company’s offer solves the customer’s problems
Handle objections (4)
- Positive approach
- seek out hidden objections
- ask buyer to clarify objections
- take objections as opportunities to provide more info
=> turn objections into reason to buy
Close the sale (def. + 3 signals)
ask the customer for an order
- recognize closing signals from buyers (physical actions, comments and questions)
Closing techniques (5)
- ask for order
- review points of agreements
- offer to help write up the order
- ask whether the buyer wants this or that model
- note that buyer will lose out if order is not placed now
Follow-up
follow up after the sales to ensure customer satisfaction and repeat business
Value selling
demonstrate and deliver superior customer value and capture a reurn on that value that is fair
= listen and understand needs and coordinate the whole company’s efforts to create lasting relationship based on customer value
