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The Magic 8s Of Selling By Tom Shay
 

The Magic 8s Of Selling By Tom Shay

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This presentation by Tom Shay outlines 8 techniques for selling and 8 ways to close a sale. www.profitsplus.org

This presentation by Tom Shay outlines 8 techniques for selling and 8 ways to close a sale. www.profitsplus.org

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    The Magic 8s Of Selling By Tom Shay The Magic 8s Of Selling By Tom Shay Presentation Transcript

    • Tom Shay, CSP Certified Speaking Professional
      • Share with you 8 types of selling
      • Share with you 8 ways of closing a sale
      The Magic 8’s of Selling
      • Is that all there is to selling? Then let’s keep dancing.
      • A customer comes in, asks for a product, and purchases it.
      • What did you sell?
      Today’s Important Question
      • Convert to sale – Have a browser become a buyer
      • Repeat sale – Have an existing customer return
      The 8 Degrees of Selling
      • Referral sale – Have an existing customer suggest a friend or neighbor do business with you
      • Cross selling – Have a new product or service that you anticipate an existing customer will purchased because of their previous purchases
      The 8 Degrees of Selling
      • Suggestive selling – When the customer is looking for a solution or idea and you can provide assistance
      • Up selling – Have a customer purchasing a product or service that is higher quality or more expensive than what they originally asked for
      The 8 Degrees of Selling
      • Add on selling – After having made the initial sale, this product or service relates to the initial purchase
      • Impulse selling – Have the customer select something that catches their eye or that you suggest that may or may not relate to the initial sale
      The 8 Degrees of Selling
      • Convert to sale – Have a browser become a buyer
      Convert to Selling
      • He walks into your store while his wife is next door at the grocery store
      • Can you convert this browser to a customer?
      Convert to Selling
      • What is your conversion rate?
      • Total number of browsers / those making a purchase
      Convert to Selling
      • The natural instinct is to say, “Can I help you?”
      • Do you have a repertoire of other opening phrases?
        • “ Hello”
        • “ Good morning”
        • “ Welcome”
        • Just making eye contact
      Convert to Selling
      • Are all of these customers “just looking”?
      • Can you help them to look at something particular?
      • Do you have a “start item” in mind?
      • “ Have you seen the new….?”
      Convert to Selling
      • Repeat sale – Have an existing customer return
      Repeat Selling
      • She has shopped with you before
      • Does she ask for you by name?
      • Did you get her name? Her contact information?
      Repeat Selling
      • To get a new customer costs $20
      • One returns for only $4
      Repeat Selling
      • Why would she share personal information this with you?
      • When there is a benefit for having a contact from you!
      Repeat Selling
      • How often does your store contact the customers?
      • If you added a new product, how would you tell existing customers? (Not by way of the traditional media)
      Repeat Selling
      • Referral sale – Have an existing customer suggest a friend or neighbor do business with you
      Referral Selling
      • One of the highest compliments a customer can pay you and the store where you work
      • Gain referrals by first taking care of customers so that they repeat
      Referral Selling
      • Educate your repeat customers so that their friends and neighbors consider them an expert on the subject
      Referral Selling
      • Ask existing customer questions:
        • What one thing can we do to make it easier for you to do business with us?
        • What do you like best about our products or services?
        • Who do you know that likes the same quality?
      Referral Selling
      • Who do you know that has the same or similar problem?
      • Have you ever benefited from a referral?
      Referral Selling
      • Did you appreciate the person who gave that referral?
      • Wouldn’t you want someone to tell you about our products and services?
      Referral Selling
      • Cross selling – Have a new product or service that you anticipate an existing customer will purchased because of their previous purchases
      Cross Selling
      • In return, the customer will widen their dependence on your store
      • They will also decrease the possibility that they are price shopping, or spending some of their dollars at another pool/spa dealer
      Cross Selling
      • Watch the dollar – if they spend $50, don’t suggest $100 items
      • Watch for things that naturally go together
      Cross Selling
      • The item should continue the experience – a grill, outdoor sound, lighting
      • Utilize testimonials from existing customers
      Cross Selling
      • This is serving – not selling
      • Look for the appropriate moment
      • Offer no more than three items
      • Offer varying prices
      Cross Selling
      • Suggestive selling – When the customer is looking for a solution or idea and you can provide assistance
      Suggestive Selling
      • Over 70% of customers do not know what they want when they come in the store
      • This is a combination of the customer’s best interest and the store’s best interest
      • Suggested selling is a service to the customer – not a task
      Suggestive Selling
      • Their initial choice of a product likely occurred because of a friend or neighbor’s suggestion
      • It is your responsibility to get the customer to the product that is right for them
      • Help the customer to see there is a difference in what they want and what they need
      Suggestive Selling
      • Customers are open to suggestive selling because:
        • Save them time
        • Save them money
        • Make them healthier
        • It is a reward to themselves
        • They seek peer approval
        • They like the newest stuff
      Suggestive Selling
      • Up selling – Have a customer purchasing a product or service that is higher quality or more expensive than what they originally asked for
      Up Selling
      • Up selling begins when the customer first selects a product
      • Questions should be asked to learn about the customers preferences and experiences
      • What else have you owned?
      • Do not jump immediately into the up sale
      Up Selling
      • The customer must have confidence in your knowledge and experience
      • Look for the “What do you think?”
      Up Selling
      • As the customer examines the product, look for their disappointments
      • Does the higher quality product do a better job of solving the want or need?
      Up Selling
      • When a customer selects a product or service, be aware of the product or service that is the next higher price
      Up Selling
      • “ Would you like to have the extra large drink for only 15 cents more?”
      • “ Would you like to have the ….. for only $.... More?”
      Up Selling
      • Add on selling – After having made the initial sale, this product or service relates to the initial purchase
      Add on Selling
      • “ Would you like cheese on your hamburger?”
      • “ Would you like fries with your hamburger?”
      • It may be obvious, but it has to be mentioned to be sold.
      Add on Selling +
      • Who is more qualified to know which product goes with which?
      • If the customer returns and says, “I forgot to get some ….”, it was your lost opportunity and sales failure.
      Add on Selling
      • Display items that are natural add on sales near the item they go with – even if that means the item is displayed in several places.
      • Practice developing your add on list
      Add on Selling
      • Impulse selling – Have the customer select something that catches their eye or that you suggest that may or may not relate to the initial sale
      • Or, making the purchase on a whim
      Impulse Selling
      • This is an item that the customer had no intention of purchasing when they started shopping
      Impulse Selling
      • Almost half of all purchases are made on impulse
      • Candy bars and soft drink machine near the checkout or water analysis counter
      Impulse Selling
      • Those that shop more frequently and those that spend more are most likely to respond to impulse items
      • Place items that you want them to pick up in the easy to see and get places – at the checkout, end caps, 4’ to 6’6” from the floor, ‘dump’ displays
      Impulse Selling
      • People purchase commodity items on impulse
      • People are impulsive about products that are on sale – display them predominately!
      Impulse Selling
      • Keeping them on the sales floor longer leads to impulse sales
      • Having them wander around leads to impulse sales
      Impulse Selling
      • Either/or
        • Do you want the blue or green…?
      • Assumptive
        • Start showing the accessories
      • Reflective question
        • “ Can I get this in a bigger…” “Do you want…?”
      • Feel, felt, found
        • I know how you…
      8 Sale Closings
      • Take away
        • It’s the last one, end of sale
      • Ask for it
        • Are you going to buy this one?
      • Relevant story
        • Let me tell you about another customer…
      • What did I do wrong
        • Just one more question…
      8 Sale Closings
    • Don't just service what you sell. Service who you sell!
    • Final Note
      • This presentation will be specialized to your industry and your attendees’ specific needs.
      • For more information about having Tom present for you, contact us at (727)464-2182 or visit our website: www.profitsplus.org