Sales Mastery Closing More Sales at a Profitable Price

Profit Point

Sales and Profit Point Increase number of sales relative to the number of opportunities (Closing Rate) Increase the selling price of each sale (Average Sales Price)

Increase number of sales relative to the number of opportunities (Closing Rate)

Increase the selling price of each sale (Average Sales Price)

Workshop Objectives Understand the sales process Learn how to increase perceived value Learn how to identify customer needs Learn how to effectively present solutions Learn how to gain commitment for a favorable exchange

Understand the sales process

Learn how to increase perceived value

Learn how to identify customer needs

Learn how to effectively present solutions

Learn how to gain commitment for a favorable exchange

Things You NEED to Know that are not Covered in this Workshop Your Profit Point How to set the right sales price Your target market Your customers' psychographics (Why they buy) How to generate opportunities

Your Profit Point

How to set the right sales price

Your target market

Your customers' psychographics (Why they buy)

How to generate opportunities

What is Selling? Selling is a process that links problems to solutions It is the favorable exchange of goods, services and ideas

Selling is a process that links problems to solutions

It is the favorable exchange of goods, services and ideas

What you need to know about Selling Why people buy Your product's benefit You and your company How your product meets a customer's needs How to logically and effectively present ideas How to encourage a customer to make a decision

Why people buy

Your product's benefit

You and your company

How your product meets a customer's needs

How to logically and effectively present ideas

How to encourage a customer to make a decision

Getting a customer to buy Purchase decision is made when price is less than or equal to perceived value Value is established by the customer Based on how customer believes product will meet or exceed customer needs Is influenced by seller's belief in the product Move customer to buying decision by Lowering price Increasing perceived value

Purchase decision is made when price is less than or equal to perceived value

Value is established by the customer

Based on how customer believes product will meet or exceed customer needs

Is influenced by seller's belief in the product

Move customer to buying decision by

Lowering price

Increasing perceived value

Defining Needs Implicit Needs Assumed Generally accepted Based on our perspective Explicit Needs Stated Definable Based on customer perspective

Implicit Needs

Assumed

Generally accepted

Based on our perspective

Explicit Needs

Stated

Definable

Based on customer perspective

Know Your Product Features Advantages Benefits

Features

Advantages

Benefits

Features Facts or characteristics of a product, service or company It is made of stainless steel We have been in business for 20 years

Facts or characteristics of a product, service or company

It is made of stainless steel

We have been in business for 20 years

Advantages How the feature can be used to benefit a buyer and meet implicit needs It will last for many years We will be around if you have any needs

How the feature can be used to benefit a buyer and meet implicit needs

It will last for many years

We will be around if you have any needs

Benefits How the feature meets an EXPLICIT need expressed by the buyer You said you wanted it to last a long time. Stainless steel will provide you the best longevity You indicated that you wanted a company that would be around to help with future needs

How the feature meets an EXPLICIT need expressed by the buyer

You said you wanted it to last a long time. Stainless steel will provide you the best longevity

You indicated that you wanted a company that would be around to help with future needs

Know YOUR Product Features Advantages Benefits Select a core product or service you provide and list

Features

Homework Identify all the products and services you can competently provide List all the features List all the advantages

Identify all the products and services you can competently provide

List all the features

List all the advantages

Talk to Teach Select a topic that you know a lot about Tell your partner How and where it was learned? Who taught it? How long it took to learn? What is liked best about it? What is liked least about it.? How has knowing this subject been beneficial?

Select a topic that you know a lot about

Tell your partner

How and where it was learned?

Who taught it?

How long it took to learn?

What is liked best about it?

What is liked least about it.?

How has knowing this subject been beneficial?

Listen to Learn Find a hobby or profession that your partner knows substantially more about than do you Record the answers to the following questions: How and where it was learned? Who taught it? How long it took to learn? What is liked best about it? What is liked least about it.? How has knowing this subject been beneficial?

Find a hobby or profession that your partner knows substantially more about than do you

Record the answers to the following questions:

How and where it was learned?

Who taught it?

How long it took to learn?

What is liked best about it?

What is liked least about it.?

How has knowing this subject been beneficial?

What did you learn? Write down everything you remember about the other persons subject Compare the learning from both Which is more effective?

Write down everything you remember about the other persons subject

Compare the learning from both

Which is more effective?

Persuasion Selling You are the expert and do most of the talking You have a product to sell Your presentation focuses on features, functions and benefits or the product Your job is to “convince” customers that they need and want the benefits of your product

You are the expert and do most of the talking

You have a product to sell

Your presentation focuses on features, functions and benefits or the product

Your job is to “convince” customers that they need and want the benefits of your product

Benefit Selling The customer is the expert and does most of the talking The customer has a need (although it may not be known yet to the customer) Your presentation focuses on asking pertinent questions to gain understanding of the specific and explicit needs Your job is to listen to the customer so that you can provide a personalized solution to the customer’s explicit need

The customer is the expert and does most of the talking

The customer has a need (although it may not be known yet to the customer)

Your presentation focuses on asking pertinent questions to gain understanding of the specific and explicit needs

Your job is to listen to the customer so that you can provide a personalized solution to the customer’s explicit need

The Selling Process Setting an appointment Running the Sales Call Performing the work Follow up contact Referrals

Setting an appointment

Running the Sales Call

Performing the work

Follow up contact

Referrals

Objectives of the Sales Call Obtain an order to perform work Advance the relationship towards an order

Obtain an order to perform work

Advance the relationship towards an order

Four Stages of a Sales Call Opening Investigating Demonstrating Capability Obtaining Commitment

Opening

Investigating

Demonstrating Capability

Obtaining Commitment

Opening Gain trust Find common ground Set and build expectations

Gain trust

Find common ground

Set and build expectations

Investigating Identify explicit wants and needs Determine constraints Identify areas where your product or service is compatible with needs Create sufficient emotion around solutions

Identify explicit wants and needs

Determine constraints

Identify areas where your product or service is compatible with needs

Create sufficient emotion around solutions

Demonstrate Capability Sell yourself Establish credibility Differentiate Reinforce and build trust Create additional expectations

Sell yourself

Establish credibility

Differentiate

Reinforce and build trust

Create additional expectations

Obtain Commitment Demonstrate how your solution matches customer's explicit needs Overcome objections Gain approval to proceed

Demonstrate how your solution matches customer's explicit needs

Overcome objections

Gain approval to proceed

Effective Investigation is the Key You can't have a solution without a problem You can't know the problem unless you ask You won't get to the explicit need unless you know HOW to ask

You can't have a solution without a problem

You can't know the problem unless you ask

You won't get to the explicit need unless you know HOW to ask

SPIN Selling S ituation Questions P roblem Questions I mplication Questions N eed-Payoff Questions

S ituation Questions

P roblem Questions

I mplication Questions

N eed-Payoff Questions

Situation Questions Early in the selling cycle Build rapport Gather Information (background and facts) Increase understanding Identify potential problems Use sparingly to avoid “interrogation” Avoid potentially sensitive areas Listen for customer problem cues

Early in the selling cycle

Build rapport

Gather Information (background and facts)

Increase understanding

Identify potential problems

Use sparingly to avoid “interrogation”

Avoid potentially sensitive areas

Listen for customer problem cues

Sample Situation Questions How long do you plan to live here? Why are you looking at building? Where do you plan to build? Have you used a builder before? What is your budget? Are you interested in financing options?

How long do you plan to live here?

Why are you looking at building?

Where do you plan to build?

Have you used a builder before?

What is your budget?

Are you interested in financing options?

Problem Questions Probe for problems, difficulties or dissatisfaction with current situation Reveal needs Clarify intensity Gain shared understanding Don’t ask problem questions for which you have no solution!

Probe for problems, difficulties or dissatisfaction with current situation

Reveal needs

Clarify intensity

Gain shared understanding

Don’t ask problem questions for which you have no solution!

Sample Problem Questions What challenges have you faced in choosing the right builder? Why is your present situation unfavorable? What do you view as your biggest obstacles in this project?

What challenges have you faced in choosing the right builder?

Why is your present situation unfavorable?

What do you view as your biggest obstacles in this project?

Implication Questions Identify consequences, effects or implications of situation Focus on consequences Personalize and emotionalize the consequences Create reasonable anxiety surrounding the problem

Identify consequences, effects or implications of situation

Focus on consequences

Personalize and emotionalize the consequences

Create reasonable anxiety surrounding the problem

Sample Implication Questions What do you see as a potential problem if your contractor does not pull a building permit? What could be some challenges of working with an inexperienced contractor? How could choosing a contractor based solely on price lead to long-term and permanent problems?

What do you see as a potential problem if your contractor does not pull a building permit?

What could be some challenges of working with an inexperienced contractor?

How could choosing a contractor based solely on price lead to long-term and permanent problems?

Need-Payoff Questions Asks about the value, importance or usefulness of a situation Clarify explicit needs Are emotion-driven Elicit desire for a solution Offer to remove anxiety Withhold specific solution until making a formal proposal

Asks about the value, importance or usefulness of a situation

Clarify explicit needs

Are emotion-driven

Elicit desire for a solution

Offer to remove anxiety

Withhold specific solution until making a formal proposal

Sample Need-Payoff Questions If we could get you into your new building before Spring, how would that help your summer sales? How would you feel knowing your contractor had 20 years of experience? Would you be interested in a solution that provided the extra space you need for expansion using your existing building lot?

If we could get you into your new building before Spring, how would that help your summer sales?

How would you feel knowing your contractor had 20 years of experience?

Would you be interested in a solution that provided the extra space you need for expansion using your existing building lot?

Use SPIN to Match Your Partner to a New Work Vehicle

Use SPIN to Identify Explicit Needs in Your Partner's Business

Technical Investigation Blueprints Walk through Measurements Customer involvement Identify desired function and expectations

Blueprints

Walk through

Measurements

Customer involvement

Identify desired function and expectations

Demonstrate Capability Use a formal presentation process Be consistent Be professional Focus on “hot buttons” Don't cut corners Trust the process

Use a formal presentation process

Be consistent

Be professional

Focus on “hot buttons”

Don't cut corners

Trust the process

Choosing the Right Contractor is a Long-term Commitment Little concerns can become large over time Quality issues Visible Hidden Safety issues Support issues

Little concerns can become large over time

Quality issues

Visible

Hidden

Safety issues

Support issues

What Should You Look For? Contractors Appearance Character Licensed Insured Bonded Permits Experience Workmanship Reputation Products used Technique used

Contractors

Appearance

Character

Licensed

Insured

Bonded

Permits

Experience

Workmanship

Reputation

Products used

Technique used

Company Overview ____ years' experience Training Licensed Insured Permits Availability Appearance

____ years' experience

Training

Licensed

Insured

Permits

Availability

Appearance

We Pay Attention to Details

Quality Matters Processes Materials

Processes

Materials

Quality Assurance Checklist

We Stand Behind our Work Our Work is Guaranteed

Our Work is Guaranteed

The Value Solution Our Company Our Products Our Workmanship Me

Obtaining Commitment Review the investigation questions and responses Present your solution in an item by item approach (Because you said...) Explain the benefits they will get Ask: Is this what you are looking for? Can you see how this gives you all the benefits you said you wanted?

Review the investigation questions and responses

Present your solution in an item by item approach (Because you said...)

Explain the benefits they will get

Ask:

Is this what you are looking for?

Can you see how this gives you all the benefits you said you wanted?

Presenting the Price We can have your project completed to your specifications for $_____________ or $ ____ per month. Will (___ date___ ) be a good time for us to start?

We can have your project completed to your specifications for $_____________ or $ ____ per month.

Will (___ date___ ) be a good time for us to start?

Overcoming Objections Price too high Need another bid Can't afford it We need to think about it We are just getting a budget

Price too high

Need another bid

Can't afford it

We need to think about it

We are just getting a budget

The Three D's Deflate Show compassion and understanding Define Clarify the concern Delete Use the tools to address the specific concerns

Deflate

Show compassion and understanding

Define

Clarify the concern

Delete

Use the tools to address the specific concerns

Deflate I understand how you feel I can see why that might be a concern I can appreciate that

I understand how you feel

I can see why that might be a concern

I can appreciate that

Define Can you share your concerns with me?

Can you share your concerns with me?

Delete Price Too High The Value Solution Customer Need Evaluation Need Another Bid The Value Solution Customer Needs Evaluation Can't Afford It Customer Needs Evaluation Financing Options Need to Think About it Breathing room Customer Needs Evaluation

Price Too High

The Value Solution

Customer Need Evaluation

Need Another Bid

The Value Solution

Customer Needs Evaluation

Can't Afford It

Customer Needs Evaluation

Financing Options

Need to Think About it

Breathing room

Customer Needs Evaluation

Sale Call Review Use presumptive sale language Only propose products/services that are solutions to explicit needs Propose product/services as a solution to a specific need expressed by the customer Propose benefits, advantages and features in this order (remember that purchases are made on emotion and justified by facts)

Use presumptive sale language

Only propose products/services that are solutions to explicit needs

Propose product/services as a solution to a specific need expressed by the customer

Propose benefits, advantages and features in this order (remember that purchases are made on emotion and justified by facts)

The Contractor's Sales Call Introduction and Warm Up Customer Needs Evaluation Technical Analysis Presentation Needs-based Solution Gain Commitment

Introduction and Warm Up

Customer Needs Evaluation

Technical Analysis

Presentation

Needs-based Solution

Gain Commitment

Choosing the Right Contractor is a Long-term Commitment

What Should You Look For? Contractors Workmanship

Contractors

Workmanship

Company Overview ____ years' experience Training Licensed Insured Permits Availability Appearance

____ years' experience

Training

Licensed

Insured

Permits

Availability

Appearance

We Pay Attention to Details

Quality Matters Processes Materials

Processes

Materials

Quality Assurance Checklist

We Stand Behind our Work Our Work is Guaranteed

Our Work is Guaranteed

The Value Solution Our Company Our Products Our Workmanship Me