Sales The New Need Of Life


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"Sales - The new need of Life" represents my seniors experience. Many literature on sales are also used in our day to day experience, though its theoritical but its practical too and may lead to success if implemented accurately.

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Sales The New Need Of Life

  1. 1. SALES - The Need of LIFE <ul><li>Vishal V. Wadekar </li></ul>Food Clothes Shelter Money The Four Basic amenities of LIFE
  2. 2. Sales means.... <ul><li>'People buy because they perceive a relationship between your sales proposal and their individual self-interest. The art and craft of selling is in demonstrating the connection between the proposal and self-interest. The ideal buy/sell situation is a win/win. Serving your customer's self-interest is ultimately the best way of serving your own. —— Robert Miller & Stephen Heiman ; Conceptual Selling ) </li></ul>
  3. 3. <ul><ul><ul><ul><ul><li>What is selling? </li></ul></ul></ul></ul></ul>Selling is taking an 1) idea, 2) planting the idea in your customers minds 3) and making them feel they thought of it..but do it ethically.
  4. 4. Sales Triangular Balance Concern for the customer Concern for the company Concern for the sale Strategic advantage threshold Minimum acceptable threshold Professional selling skills
  5. 5. Core Structure Retain Existing customers Sell more to Existing customers Acquire new customers
  6. 6. New Rising Trends in Sales <ul><li>Mobile </li></ul><ul><li>Managers to e-Managers </li></ul><ul><li>e-Sales </li></ul><ul><li>e-Practices </li></ul><ul><li>e-Direction </li></ul><ul><li>e- Competition </li></ul><ul><li>e-Business </li></ul><ul><li>e-Mail </li></ul>
  7. 7. Common Sales Stages <ul><li>Sales lead </li></ul><ul><li>Qualified prospect </li></ul><ul><li>Need identification </li></ul><ul><li>Proposal </li></ul><ul><li>Closing </li></ul><ul><li>Deal Transaction </li></ul>Specific steps or stages in a sales process vary from company to company but generally include the following steps:
  8. 8. Sales Techniques (AIDCA) <ul><li>The foundations of most modern sales techniques lie in five stages of action. These began in the 1950's and include: </li></ul><ul><li>Attention: We have to get the attention of our prospect through some advertising or prospecting method. </li></ul><ul><li>Interest: Build their interest by using an emotional appeal such as how good they will look to their boss when they make this deal that will save the company thousands of Rupees! </li></ul><ul><li>Desire: Build their desire for our product by showing them its features and letting them sample or test-drive it. </li></ul><ul><li>Conviction: Increase their desire for our product by statistically proving the worth of our product. Compare it to its competitors. Use testimonials from happy customers. </li></ul><ul><li>Action: Encourage the prospect to act. This is our closing. Ask for the order. If they object, address their objections. There are then many variations of closing techniques that can help get the business. </li></ul>
  9. 9. Basic Guidelines <ul><li>Below are the basic guidelines due to which sales people like us can get benefit out of it. </li></ul><ul><li>Listen to the emotional side of our prospect or client </li></ul><ul><li>Focus on our prospect or client's needs </li></ul><ul><li>Use language that focuses on our prospect or client </li></ul><ul><li>Help our prospect see the bottom line </li></ul><ul><li>Find out our prospect's priorities </li></ul><ul><li>Know our prospect </li></ul><ul><li>Focus on why they should buy - not their objections </li></ul>
  10. 10. Continue… <ul><li>Never rush the sale or the customer. </li></ul><ul><li>Know our products, as well as the market - be a RESOURCE. </li></ul><ul><li>Follow through with promises. </li></ul><ul><li>Focus on our client's success. </li></ul><ul><li>Use explanations rather than excuses. </li></ul><ul><li>Sell the benefits – not the product. </li></ul>
  11. 11. 7 Steps of How to become an Sales Guru <ul><li>Assess our Sales Skills. </li></ul><ul><li>Choose an Industry that Fits us. </li></ul><ul><li>Find a Sales Position </li></ul><ul><li>Know our Competition </li></ul><ul><li>Get a Coach – Industry Mentor </li></ul><ul><li>Practice our Skills </li></ul><ul><li>Stay in the Competition and Go for the Gold </li></ul>
  12. 12. 5 Selling Tips to Increase our Sales <ul><li>Promote One Thing at a Time </li></ul><ul><li>Lead with Your Biggest Benefit </li></ul><ul><li>Personalize Your Approach </li></ul><ul><li>Provide Specifics </li></ul><ul><li>Dramatize Feelings </li></ul>
  13. 13. Top 10 Tips for Effective Sales <ul><li>Know our Product or Service </li></ul><ul><li>Know our Target Market </li></ul><ul><li>Know our Competition and Your Competitive Advantage </li></ul><ul><li>Be a “Proactive” Business Developer </li></ul><ul><li>Mine the Gold in Your Existing Client Database </li></ul><ul><li>Don’t Leave Business on the Table- Cross-sell our Products and Services </li></ul><ul><li>Track Progress and Results </li></ul><ul><li>Learn From our Mistakes – Which I m continuously doing in my career to enhance it. </li></ul><ul><li>Be Persistent </li></ul><ul><li>Enjoy the Process </li></ul>
  14. 14. FABV Approach <ul><li>Below are the vital ingredients to be used while pitching the product. </li></ul><ul><li>Features </li></ul><ul><li>Advantages </li></ul><ul><li>Benefits </li></ul><ul><li>Value </li></ul>
  15. 15. Selling Strategies <ul><li>Direct Selling </li></ul><ul><li>Cold Calling </li></ul><ul><li>Persuasive Selling </li></ul><ul><li>Needs-Based Selling </li></ul><ul><li>Consultative Selling </li></ul><ul><li>Target Account Selling </li></ul>Broadly there are a number of specific selling strategies that come under the umbrella of sales or selling. They include:
  16. 16. 3 Simple Actions to Increase Sales <ul><li>Find and secure agreement. </li></ul><ul><li>Confirm for clarity what is being said. </li></ul><ul><li>Validation </li></ul>
  17. 17. 12 Tips for “Psychological Selling” <ul><li>People make decisions emotionally. </li></ul><ul><li>People justify decisions with facts. </li></ul><ul><li>People are egocentric. </li></ul><ul><li>People look for value. </li></ul><ul><li>People think in terms of people. </li></ul><ul><li>You can’t force people to do anything. </li></ul><ul><li>People love to buy. </li></ul><ul><li>By Dean Rieck </li></ul>
  18. 18. Continue….. <ul><li>People are naturally suspicious . </li></ul><ul><li>People are always looking for something. </li></ul><ul><li>People buy “direct” because of convenience and exclusivity. </li></ul><ul><li>People like to see it, hear it, touch it, taste it, or smell it before they buy it. </li></ul><ul><li>Most people follow the crowd. </li></ul><ul><li>By Dean Rieck </li></ul>
  19. 19. Tips for Managing a Successful Sales Team <ul><li>Some Tips for Managing a Successful Sales Team Support our sales team's efforts. </li></ul><ul><li>Give them the tools and technology they need to succeed and beat the competition. </li></ul><ul><li>Foster good relationships between your sales team, production and administration. </li></ul><ul><li>Communicate regularly with your team. </li></ul><ul><li>Mediate internal conflicts before they drive good sales reps away. </li></ul><ul><li>Take action to fix problems as they arise, not after you've lost your team. </li></ul>
  20. 20. Upselling USP’s <ul><li>The customer is always right. </li></ul><ul><li>Never start your sentence with a NO. </li></ul><ul><li>Always listen to the customer first before starting with your reply. </li></ul><ul><li>Do not hesitate to repeat anything that the customer might not understand. </li></ul><ul><li>Effective Communication is very essential. </li></ul><ul><li>Be very patient in listening to the customer. </li></ul><ul><li>Never cut the customer in between which gives an impression that you are trying to over power the customer </li></ul><ul><li>Always smile. </li></ul>
  21. 21. Call Structure <ul><li>Opening </li></ul><ul><li>Probing </li></ul><ul><li>Consolidation </li></ul><ul><li>Closing </li></ul>
  22. 22. Customer Centric Selling <ul><li>Six Selling Themes </li></ul><ul><li>Differentiate Customers - Bank Accounts </li></ul><ul><li>Design Differentiated Offerings –Credit Card </li></ul><ul><li>Keep Existing Customers - ATM-Debit Card </li></ul><ul><li>Exploit Cross Potential – Other Bank customers </li></ul><ul><li>Exploit Loyalty Potential –-Debit Card </li></ul><ul><li>Maximizing Life Time Value – Lifetime free credit card </li></ul>
  23. 23. Common Mistakes <ul><li>In my recent working period I've noticed certain selling mistakes committed repeatedly, by me and other salespeople. Here's five of the biggest: </li></ul><ul><li>Unprepared, No formal sales presentation. </li></ul><ul><li>Reading too many &quot;Relationship Selling&quot; books. </li></ul><ul><li>Not listening, Salespeople talk too much. </li></ul><ul><li>Not taking care of established customers. </li></ul><ul><li>Spending too much time with prospects that will never buy. </li></ul><ul><li>Weak Salespeople focus on price and want discounts for every deal. </li></ul><ul><li>Salespeople fail to get firm commitments from prospects. </li></ul><ul><li>Lack of sufficient prospecting. </li></ul><ul><li>Salespeople don’t treat sales as a profession. </li></ul>