Sales Midterm 1 Flashcards
Meaning of SPIN
Situation, Problem, Implications, Needs pay off
Apart of Needs analysis
Difference between advantage and Benefit
Advantage: How it can be used how it can help
Benefit: The result of a advantage
Pre-approach steps
- Determine Objectives
- Develop Profile
- Develop benefits
- Prepare Presentation
SMART Meaning
Smart- To get an order NOT specific
Measurable- Number, size
Achievable- Realistic
Relevant- Has importance to you
Time bounded- set date when target to be met
Sales people today will need the following skills
-Good selling skills
-Technical skills
-Human skills (Empathy, how to handle an objection, FAB)
-Concept skills (Look at their comp, how do solve their problem)
Customer relationship process
- Analyze customer needs
-Recommend solution and gain commitment
-Implement the recommendation
-Maintain and grow the relationship
Transaction selling
Customers are sold and not contacted again
Relationship selling
- Sellers follow up to ensure customer satisfaction
Partnership
Seller works continuously
What is a of Gate keeper
Someone keeping the seller from the big buyer, such as receptionist, secretaries, office manager
What are the 5 mental steps in the buying process
- Attention
- Interest
- Desire
- Conviction
- Purchase or action
Sales presentation methods
Sales person to buyer
Sales person to buyer group
Sales team to buyer group
Conference selling
Seminar selling
The industry approach
- most common, least powerful
Used for first time meeting
Used with other approaches
The premium approach:
Freebies, Samples
Opening approach should include
Capturing attention
Peak prospects interest
Smooth transition into presentation
How to establish Repport
Establishing a relationship, trust, connection, things you have in common
Curiosity approach
Ask a question or do something to make the prospect curious about the product
Opinion approach
Asking a question to seek out a opinion from subject
The sales presentation mix
- Persuasive communication
- Participation
- Evidence statement
- Visual Aids
- Dramatization
- Demonstration
5 Major categories of objections
-Stalling
-No-need
-Money
-Product
-Source
How to use ACTT to take on the objection
-Acknowledge the concern (dont agree with it)
-Clarify (Clarify the concern, what’s the problem)
-Technique to handle the objection
-Trial close
What does the s stand for in SALL sequence?
Show a feature
What does the E stand for in SELL sequence?
Explain an advantage
What does the 1st L stand for in the SELL sequence
Lead into a benefit
What does the 2nd L stand for in the SELL sequence
Let your buyer talk -trail close
Cognitive empathy
I understand why you have an objection
Emotional empathy
I know how you feel
What is compliment closing technique?
They like to think they’re opinion is important
-We know your smart so that’s why your going to choose this
Specific closing technique: ultimatum
Explain the potential negative consequences of not acting now
Specific closing technique: Concession
Deal sweetener, small freebie, make them feel special
Specific closing technique: T-accounts means
What they get if they say yes, what they get if they say no
- The deal to act or not to act
Specific closing technique: Urgency
FOMO, people want what they can’t have, best to act now
-Standing room only
Specific closing techniques: Probability
Scale of 1-10 when i call are you going to takes the deal?
Specific closing technique: negotiation
Value and price
Find a win-win
Specific closing technique: Technology
Graphs, images, flow charts
Specific closing techniques: Alternative choice
less pressure on the person, would you like this or that choice
(This version or that version)
Creative Imagery
Imagine both ways, worst and best thing that’s could happen
Qualities of a good sales person (according to the presentation)
Product knowledge, Organized, assertive, behavioural flexibility
Order getter vs order taker
Getter: Responsible for generating new business, use creative sales strategies and effective sales presentations
Taker: What does the customer want, no sales strategy or creative sales presentation
