Essential of Technology Entrep. & Innovation- Chapter nine smart selling and effective customer service

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In chapter nine, we are introducing the concepts of selling and customer relation.
This course provide the students with a conceptual knowledge regarding the essentials for management practices of a technology-based organization, and the evolution of technology. The topics covered in this course would include: • Introduction to the concept of entrepreneurship. • What entrepreneurs do and their importance to economy • How to seize business opportunity; • Know the process of creativity and difference between invention and innovation • Know how innovation is important as a dimension of entrepreneurship • Critical factors in managing technology; including • The Time Factor (Osborn effect) • Technology Push and Market Pull • The S-Curve of Technology • Technology and Product Life Cycle • The Chain Equation of Technology Innovation • Price Knowledge Gape Relation • Difference between Entrepreneurship and Stewardship Management • Difference between technology leader and followers • Competition and Competitiveness Concepts. • The process of the technological innovation; • Who are the customers; and • How to optimize cost and find finance for your projects • Demonstrate the importance of business plan, including the marketing and financial plans and how to prepare it. • Know the structure and management of a technology organization

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Essential of Technology Entrep. & Innovation- Chapter nine smart selling and effective customer service

  1. 1. CS443 Course Introduction To Entrepreneurship p p Spring 2009, Modern Science & Arts University Chapter Nine: Smart Selling and Effective Customer ServiceInstructor:Al-Motaz Bellah Alaa Al-AgamawiChapter Source, “chapter Five: entrepreneurship starting and operating a small business”book, by Steve Mariotti, 2007, Pearson Education, Inc. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  2. 2. From Selling to Owning Your Own Business2 Direct selling is dealing with a potential customer face to face and trying toconvince him or her to make a purchase. Salespeople of ten become successful entrepreneurs because they hear what theconsumer needs and wants on a daily basis. Ray Kroc, founder of McDonalds, was selling milkshake machines when he was inspired to turn the McDonald brothers hamburger restaurant into a national p g operation. Aristotle Onassis was a wholesale tobacco salesman before becoming a multimillionaire in the shipping business business. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  3. 3. Selling is a Great Source of Market Research3 If the customer is dissatisfied, the salesperson hears the complain dissatisfied complain. In that sense, selling is a constant source of valuable market re­search. When you start your business, you will probably not be able to hire a sales staff.You will be the sales staff. ff Even if you have never sold anything in your life, you can develop into a greatsalesperson. p Being face to face with customers, trying to sell your product, may make you nervous at first. But if you think of even rejections as opportunities for continuous market analysis, you will look forward to every sales encounter throughout your entrepreneurial career Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  4. 4. The Principles of Selling4 Every entrepreneur has to be able to think through the benefits his/her productcan provide and make an effective sales call. Entrepreneurs sell constantly-not just to customers but to potential investors,bankers, and people they want to hire. Principles of selling includes: Make a good personal impression g p p Know your product or service. Believe in your product or service. Know your field field. Know your customers. Prepare your sales presentation Think Thi k positively. ii l Keep good records. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  5. 5. The Sales Call5 sales call is an appointment with a potential customer to explain or demonstrateyour product or service. During the sales call, you .ant to do the following: Make the customer aware of your product or service. M f Make the customer want to buy that product or service. Make the customer want to buy it from you. y y Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  6. 6. Prequalify your Sales Calls6 Before calling to make an appointment for any sales call, write down your callprospects. This is a list of people you think might be receptive to your sales pitch. Include everyone you can imagine, but after youve made your list, comb through it f carefully by asking the following: Is this person in my market? p y Does he/she need my product? Can he/she afford it? If the answer to any of these questions is "no " making a sales call on that person no,will probably be a waste of time. Asking these questions is called "prequalifying" a sales call. Spend l S d plenty of time getting your prospect list organized. f i i li i d Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  7. 7. Prequalify your Sales Calls7 Before calling to make an appointment for any sales call, write down your callprospects. This is a list of people you think might be receptive to your sales pitch. Include everyone you can imagine, but after youve made your list, comb through it f carefully by asking the following: Is this person in my market? p y Does he/she need my product? Can he/she afford it? If the answer to any of these questions is "no " making a sales call on that person no,will probably be a waste of time. Asking these questions is called "prequalifying" a sales call. Spend l S d plenty of time getting your prospect list organized. f i i li i d Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  8. 8. Turning Objections into Advantages8 Getting the customer to open up may lead to your being told things you may notwant to hear about your product or service. These objections however, will be valuable sources of marketing data. Work W on developing objection-proof answers to each of these questions-answers f fthat are backed by proof, testimonials from customers, research, and datacomparing your product with the competition’s. p gy p p Use technology to sell: A video taped demonstration or presentation of your product A Web site customers can visit for updates or product facts Using e-mail and faxes to stay in touch with customers Digital planners and calendars-to keep prospect lists organized and log sales calls ll Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  9. 9. Successful Business Need Customers who Return9 Once you have made your first sale, you have a customer! Making the sale is saleactually only the first step in your relationship with this individual. Your real goal is not the first sale, but to develop repeat business customers whowill buy f from you over and over again. Successful businesses are not built on single sales but on repeat business. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  10. 10. Customer Service is Keeping Customer Happy10 Customer service is everything you do to keep your customers happy especially aftertheyve bought something. It includes maintaining and repairing the product or service once it has been sold anddealing with customer complaints. Many businesses do not practice customer service because it requires effort, time, andmoney. Smart entrepreneurs understand, however, that investing in customer service is likely to havea high return. Knowing your customer by name Delivering a product on time Helping a customer carry the product to the car Suggesting a less expensive product that will meet the customers need Providing a full refund to a customer who is dissatisfied Taking time to listen politely and with empathy to a customers complaint Providing a toll-free customer-assistance phone line Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  11. 11. Customer Service is Keeping Customer Happy11 Customer service is everything you do to keep your customers happy especially aftertheyve bought something. It includes maintaining and repairing the product or service once it has been sold anddealing with customer complaints. Many businesses do not practice customer service because it requires effort, time, andmoney. Smart entrepreneurs understand, however, that investing in customer service is likely to havea high return. Knowing your customer by name Delivering a product on time Helping a customer carry the product to the car Suggesting a less expensive product that will meet the customers need Providing a full refund to a customer who is dissatisfied Taking time to listen politely and with empathy to a customers complaint Providing a toll-free customer-assistance phone line Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  12. 12. Customer Service is Keeping Customer Happy12 Smart entrepreneurs pay close attention to their customers. They constantly ask questions and analyze their needs. They train their employees to look for customer needs that might be goingunfulfilled. The most successful entrepreneurs become customer service experts, Excellentcustomer service combined with smart selling and a product that offers a uniquecompetitive advantage will l d t success. titi d t ill lead to Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  13. 13. The Cost of Losing a Customer13 Have you heard the expression "The customer is always right"? There will be times when a customer may get angry at you, complain, or makedemands that you believe are unreasonable. In Customer Service: A Practical Approach, Elaine Harris describes four costs oflosing a customer: Loss of current dollars the customer was spending at your business. Loss f jobs. L of j b Loss of reputation. Loss of future business. Use your self-control to stay polite, even when a customer is losing his or hertemper. Do your best to find a solution that will send him/her away satisfied. Your effort will protect your bus ess and may even ea you a cus o e for ou e o w p o ec you business a d ay eve earn customer o life. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  14. 14. Customer Complain Are Value14 You may not enjoy hearing a customer complain about your product or service buta complain is full of valuable information that no one else will tell you and you donot have to pay for it! Listen closely to learn what your customer need or want: Always acknowledge complains and criticism and deal with them. Never pretend that you did not hear a negative comment. Do not overreact to negative comments. And, above all, do not take them personally! ll ! Always tell the truth about any negative aspects of your product or service. When you admit the negative, you gain the customer trust. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  15. 15. Importance of Customer Service15 Customer Service is Marketing Marketing bring customers to your business, bit it does not stop there. Once customer is inside your door, the treatment should be consistent with your marketing. Customer Service is a Valuable Source of Market research Market Research should not end once you open your business. Each t E h customer is a valuable source of facts. i l bl ff t The customer database Ask customers to refer you to new customers Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  16. 16. Business Plan Practice (Project Section)…16 Chapter 5, entrepreneurship starting and operation a small business book Page 135, Question number 2 Page 136, Key Concept 6 Unit 2, Business Plan Practice Assignment Deadline: Week After Next. Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi
  17. 17. 17 Q&A… Smart Selling and Effective Customer Service Chapter 9 By: Motaz Al-Agamawi

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