Sales Exam 1

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Salespeople are
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Terms in this set (76)
Salespeople are
Solution providers, Solve problems
What is the sales edge
salespeople are made, not born. Practicing to be a goal oriented, skillful salesperson
Rock solid rules
1.Because of their great attitudes, successful salespeople always do more than they're supposed to do 2.Successful salespeople see themselves as successful 3.Successful salespeople don't prejudice, don't assume, and don't minimize themselves, their prospects, or their clients 4.Successful salespeople are goal-oreiented 5.Successful sales people are self-motivated 6. Successfu salespeople are in control. Take the heat as well as the priase. Control of plans anticipate situations and plan ahead 7. Successful salespeople constantly practice and prepare. Important to listen to what the client is saying 8. Successful salespeople see and talk more people than anyone else AND get more people to say no to them. 9.Successful salespeople take action. Following up with a client is crucial
Characteristics of successful salespeople
Enthusiasm, sincerity, empathy, goal directed, ability to ask questions, resourcefulness, administrative ability, perseverance, pleasant personality
Advantages of a sales career
every-changing, dynamic, new opportunities, entrepreneurial, personal satisfaction, variety and independence, job security, $$$
Disadvantages of a sales career
handling rejection, variable income, long hours, travel
Relationship Builders
Treat customers like partners, under promise and over deliver, take responsibility for mistakes
Relationship breakers
simply wait for a problem to develop, focus only on closing the deal or personal gain, lie or speak badly of your competitor
5 step process
1. Plan and Prepare 2. Needs Analysis 3. Build a Solution 4. Present and Close 5. Follow through /Service after the sale
Plan and Prepare
Qualified prospects: Need, Money, Authority
Needs analysisMOST IMPORTANT: Success of the process depends on this phase. Active questioning and creativ listening skills are necessary. Literally hundreds or questions you can ask a clientFollow through / Service after the saleMake sure to avoid buyers remorse, reduce "church" (people who used to buy from you but don't anymore)What is consumer behavior?The set of actions that make up an individuals consideration, purchase, and use of products and services.What has the most impact on consumer behavior?InternetPurchase decision process: 5 steps1. Problem recognition 2. search for options 3. evaluation of options 4. Purchase decision 5. purchase evaluationProblem recognitionOccurs when customer received information from conversation with colleagues that causes awareness of need. Hinges on the seller's ability to uncover a need. (most grow into a bigger account). Occur when customer re-evaluates the current situation and perceives an area of void or dissatisfactionSearch for optionsCan be limited by time, experience or cost. Risk involved in the purchaseEvaluation of OptionsPerceived value, price, schedule, creativeRFPRequest for ProposalPurchase decisionCan be made easier by a professional salesperson. Involves a set of related criteria3 criteria for a purchase decision1. Financial considerations: Price, discounts, credit policies 2. intangible factors: reputation, past performance or delivery dates 3. Buy the best and you'll only cry once"Post purchase evaluationSeller reducing cognitive dissonance by reinforcing the buyers belief that the right decision was made, demonstrating the capabilities and quality of the productCognitive dissonancepost purchase anxiety ( I've made a huge mistake )psychological influences and the role of perceptionMood and movement, attitudes, verbal and non-verbalMood of the momentbuyer could have been having a shitty dayAttitudesyou, your company, your product, the perception they have about youVerbalSometimes forget there is a human component to the buying and selling process. Clarity, articulation, volume, silence, slow down the speechNon-verbalvisual communication expresses the majority of a persons feelings and emotions, body language, includes facial expressions, shifts in posture, stanceProxemicsThe study of the physical distance individuals prefer to maintain between themselves and othersPersonal Space2-4 feet (use only if prospect is comfortable/ familiar)Social4-12 feet (Allows rooms for gestures)4 types of behavior styleDriver, expressive, amiable, analyticalDrivercontrol specialists. decisive in action and decision making, likes control, dislikes inaction, prefers maximum freedom to manage themselves and others, cool, independent, and competitive with others, low toleracne for feelings, attitdues, and advice of othersExpressiveSocial specialists. Spontaneous actions and decisions, focus on the who, likes involvement, exaggerates and generalized, tends to dream and gets others caught up in those dreams, jump from on activity to another, has a good persuasive skillsAmiableSupport specialists. Slower in making decisions or taking actions, focus on the "why", likes close, personal relationships, dislikes interpersonal conflict, weaker in goal setting and self-directionAnalyticalTechnical Specialists. Cautious in decisions and actions, focus on the "how", likes organization and structure, prefers objective, task-oriented, intellectual work, wants to be right, so collects much data, has good problem solving skills, works slowly, precisely and aloneMotivation and goal settingCarrot or stick (reward or fear)The impact of technologypersonal productivity, iPads, smartphones, GPS, telecommuting, periscope webinars, customer relationship Management (CRM) software , Salesforce.comCost of Television Advertisement$500-1,000 for one 30 second commercial (per time)Advantages of Television AdvertisementsPopular shows, appeals to sight, sound and emotion,strong branding capabilities (FLO, Celeb)Limitation of TV AdsHigh absolute costs (You can be bumped and ad may not run), High clutter, Declining ratings, DVR/Hopper/ Streaming services,Cost of Radio Advertisements$90-120Advantages of Radio AdvertisementsGood local acceptance, frequent copy change, lower costLimitations of Radio AdvertisementsAudio only, fragmented audiences, poor measurement, XM/NPR/Spotify/PodcastsCost of Print Advertisements$1,300 Per week for quarter page ad run 3xAdvantages of print advertisementsIn depth explanation/fast copy change, good local market coverage/believability, Price shopping/coupons (target/Home depot/Meijer)Limitations of print advertisementsshort life (breaking news doesn't go into papers), declining circulations, skews 50+, High cost for large sizesDigital cost of AdvertisementsAdWords/PPC=.50-$15 per click. Display Ads=$200-2,000Advantages of Digital AdvertisementsROI/Measurements (You can see your return on investment), Immediacy/engaged, interactive capabilitiesLimitations of Digital AdvertisementsNeed strong website/landing page for conversation, can be low impact, audience controls exposure/clutterOut Of Home Cost of Advertising$1,500-3,000 for artwork/production/installation; +5,000-25,000 space/impressionsAdvantages of out of home advertisingHigh repeat exposure, Low CPM (cost per thousand), Low message competition, digital creative changeLimitations of out of home advertisingNo demo targeting (only women to see it), creative limitations (no more than 10 words?), weather impact, short exposure time (6-8 secs), disengaged audience5 step sale process1. The concept of prospecting 2. Qualifying a lead 3. 6 methods of prospecting 4. managing prospect informationThe concept of prospectinga salesperson without prospects is out of business and prospects are everywhere. Funnel Diagram of leads, prospects and customers.Qualifying a leadMoving from a lead to a qualified prospect.Prospectsresearchedqualified prospectsevaluated prospects long with personal informationsales leadjust a nameTop 6 methods of prospecting1. Referrals 2. Group Prospecting 3. planned cold calling 4. email and us mail 5. Power of observation 6. join civic organizationsReferralsPeople are more likely to buy when referred by a friendGroup ProspectingTrade shows, conferences, follow up with interested prospectsPlanned cold callingTreat as a supplement to other methodsSquare the blockentire sales staff goes out to breakfast spends 3 hours in a populated area and go into every single businessEmail and U.S. MailPossible sources are memberships, community business groups, social networks, past customers/inactive accountschurn listpast customers and inactive accountsPower of observationRead newspapers, trade journals, blogs, magazines, competitor Meida, Follow organizations on social medai /subscribe to feedsJoin civic organizationsbecome visible and have a goal for each meeting, reach our to new members and use active listening for opportunities, local chamber of commerceManaging prospect informationrecord your leads, use company CRM plus own system, set appointments in your calendar to contact prospects (call me in 3 months)What does the MADDEN approach do?Specifies what you need to knowM in MADDENMoney (do they have it?)A in MADDENApproachable (can you get an appointment?)D in MADDENDesire (do they want it form you or are they happy with their current vendor?)D in MADDENDecision Maker (can they authorize it?)E in MADDENEligible (is the scale ok? Committed to someone else?)N in MADDENNeed (is your investment of time worth it?)