Target selling the breakthrough approach of today

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what do sales campaigns fail??? why do so many fads and gimmicks of sales guru are shortlive? CHOSE A SIMPLE BUT FUNDAMENTAL MODEL TO SUCCEED

what do sales campaigns fail??? why do so many fads and gimmicks of sales guru are shortlive? CHOSE A SIMPLE BUT FUNDAMENTAL MODEL TO SUCCEED

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  • 1. 1 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et T A R G E T S E L L I N G ©
  • 2. What is Selling ? Selling is a process of satisfying customer NEEDS with product BENEFITS 2 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et Selling is a process of satisfying customer NEEDS with product BENEFITS
  • 3. C o m p a r i n g V a r i o u s G o - t o - M a r k e t A l t e r n a t i v e s Advertising Direct Mail Internet Telemarketing Low Cost per Exposure Channel Partners Social Media Retailing 3 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et PERSONAL Selling Effectiveness Efficiency High Revenue per Exposure Channel Partners Multilevel Mktg Surrogate Mktg Retailing
  • 4. 4 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et
  • 5. Examples of Personal Selling Retail selling Field selling 5 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et Telemarketing Inside selling • 12 million people are engaged in personal selling in the United States • Represents about 10% of the work force
  • 6. PostPost--transaction:transaction: •• Reminder andReminder and reassurancereassurance PostPost--transaction:transaction: •• Reminder andReminder and reassurancereassurance Pre-transaction:  Create recognition andCreate recognition and info understandinginfo understanding Pre-transaction:  Create recognition andCreate recognition and info understandinginfo understanding Relative Importance of Advertising and Personal Selling AdvertisingAdvertising PersonalPersonal sellingselling PostPost--transaction:transaction: •• Reminder andReminder and reassurancereassurance PostPost--transaction:transaction: •• Reminder andReminder and reassurancereassurance AdvertisingAdvertising PersonalPersonal sellingselling Transaction:Transaction:  PersuasionPersuasion Transaction:Transaction:  PersuasionPersuasion Pre-transaction:  Create recognition andCreate recognition and info understandinginfo understanding AdvertisingAdvertising PersonalPersonal sellingselling 6 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.net
  • 7. Characteristics of Personal Selling Flexibility • Adapt to situations • Engage in dialog  Can not reach mass audience  Expensive per contact  Numerous calls needed to generate sale  Labor intensive Con Pro 7 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et Builds Relationships • Long term • Assure buyers receive appropriate services • Solves customer’s problems  Can not reach mass audience  Expensive per contact  Numerous calls needed to generate sale  Labor intensive
  • 8. ORDER GETTERS Current customers New customers ORDER TAKERS Inside Order Takers (via mail, telephone, internet) Outside Field Sales SUPPORT PERSONNEL Missionary Salespersons Trade Salespersons Technical Salespersons Types of Salespersons 8 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et ORDER GETTERS Current customers New customers ORDER TAKERS Inside Order Takers (via mail, telephone, internet) Outside Field Sales SUPPORT PERSONNEL Missionary Salespersons Trade Salespersons Technical Salespersons
  • 9. What is Personal Selling? • Personal selling is a promotional method in which one party (e.g., salesperson) uses skills and techniques for building personal relationships with another party (e.g., those involved in a purchase decision) that results in both parties obtaining value. • In most cases the “value” for the salesperson is realized through the financial rewards of the sale while the customer’s “value” is realized from the benefits obtained by consuming the product. • However, getting a customer to purchase a product is not always the objective of personal selling. For instance, selling may be used for the purpose of simply delivering information 9 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • Personal selling is a promotional method in which one party (e.g., salesperson) uses skills and techniques for building personal relationships with another party (e.g., those involved in a purchase decision) that results in both parties obtaining value. • In most cases the “value” for the salesperson is realized through the financial rewards of the sale while the customer’s “value” is realized from the benefits obtained by consuming the product. • However, getting a customer to purchase a product is not always the objective of personal selling. For instance, selling may be used for the purpose of simply delivering information
  • 10. CUSTOMER: What’s so different about the car you sell? HENRY FORD: I sell IT…….! 10 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et CUSTOMER: What’s so different about the car you sell? HENRY FORD: I sell IT…….!
  • 11. Ask any sales leader about this and they will always start with the right attitude. Every other aspect of sales can be learnt on-the job, but what can’t be is the attitude, which translates into the passion and the energy to convert every sales call into meaningful business.” 11 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et Ask any sales leader about this and they will always start with the right attitude. Every other aspect of sales can be learnt on-the job, but what can’t be is the attitude, which translates into the passion and the energy to convert every sales call into meaningful business.”
  • 12. 12 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et W h a t i s T A R G E T S E L L I N G ? ? ?
  • 13. 13 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et Michael Treacy & Fred Wiersema The Discipline of Market Leaders
  • 14. CUSTOMERS NEEDS FEATURES BENEFITS 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 14 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8
  • 15. Customer TypesCustomer Types Different Strokes For Different Folks 15 Different Strokes For Different Folks (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et
  • 16. 10 MYTHS ABOUT SELLING 10 myths that may be preventing you and your sales force from reaching peak performance levels: 1. “Selling is selling - a good salesperson can sell anything.” 2. “To get more orders, make more calls.” 3. “Always call high.” 4. “Use plenty of open questions - they’re more powerful than closed questions.” 5. “Close early and close often.” 6. “You never get a second chance to make a first impression.” 7. “Salespeople are born, not made.” 8. “Welcome objections - they’re a sure sign of buyer interest.” 9. “Never attack the competition.” 10. “Give the most attention to your biggest accounts.” 16 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et 10 myths that may be preventing you and your sales force from reaching peak performance levels: 1. “Selling is selling - a good salesperson can sell anything.” 2. “To get more orders, make more calls.” 3. “Always call high.” 4. “Use plenty of open questions - they’re more powerful than closed questions.” 5. “Close early and close often.” 6. “You never get a second chance to make a first impression.” 7. “Salespeople are born, not made.” 8. “Welcome objections - they’re a sure sign of buyer interest.” 9. “Never attack the competition.” 10. “Give the most attention to your biggest accounts.”
  • 17. CAMPAIGN PLANNING QUESTIONS • How many times have you heard: • "You've got to drop your price by 10% or we will have no choice but to go with your competition." • "You will have to make an exception to your policy if you want our business." • "I know that you have good quality and service, but so do your competitors. What we need to focus on here is your pricing." • "I agree that those special services you keep bringing up would be nice, but we simply don't have the funds to purchase them. Could you include them at no additional cost?" 17 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • How many times have you heard: • "You've got to drop your price by 10% or we will have no choice but to go with your competition." • "You will have to make an exception to your policy if you want our business." • "I know that you have good quality and service, but so do your competitors. What we need to focus on here is your pricing." • "I agree that those special services you keep bringing up would be nice, but we simply don't have the funds to purchase them. Could you include them at no additional cost?"
  • 18. CAMPAIGN PLANNING QUESTIONS • What is the prospect's current situation? Ask this question to give yourself the lay of the land. Often your goals for the client, the value your services can offer the client, and your action planning for the rest of the sales call come out of your detailed knowledge of the prospect's situation. 18 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • What is the prospect's current situation? Ask this question to give yourself the lay of the land. Often your goals for the client, the value your services can offer the client, and your action planning for the rest of the sales call come out of your detailed knowledge of the prospect's situation.
  • 19. CAMPAIGN PLANNING QUESTIONS • What are my business development goals for this client or prospective client? • Different goals for your clients will make for very different sales conversations. Questions you can ask yourself will include: ▫ Is this the 'discovery' meeting where we get to know each other and build rapport while learning how I might be able to help them? ▫ Am I reviewing the results from the previous year with a client and this is the meeting where I 'resell' my value so the client stays loyal? ▫ Am I trying to supplant a competitor? ▫ Is this a current client where I work in one of their divisions and I would like to get introductions into the other three divisions where I can also help? 19 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • What are my business development goals for this client or prospective client? • Different goals for your clients will make for very different sales conversations. Questions you can ask yourself will include: ▫ Is this the 'discovery' meeting where we get to know each other and build rapport while learning how I might be able to help them? ▫ Am I reviewing the results from the previous year with a client and this is the meeting where I 'resell' my value so the client stays loyal? ▫ Am I trying to supplant a competitor? ▫ Is this a current client where I work in one of their divisions and I would like to get introductions into the other three divisions where I can also help?
  • 20. CAMPAIGN PLANNING QUESTIONS • What is my desired next outcome? • Sounds simple enough, but this question is so often overlooked by professionals before they meet with clients or prospects 20 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • What is my desired next outcome? • Sounds simple enough, but this question is so often overlooked by professionals before they meet with clients or prospects
  • 21. CAMPAIGN PLANNING QUESTIONS • What are my relative strengths? In every sales situation various forces are working in your favor. Know what these forces are for this particular client or prospect situation so you can leverage them to help make the client more successful. This will give you increased odds of winning the client. 21 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • What are my relative strengths? In every sales situation various forces are working in your favor. Know what these forces are for this particular client or prospect situation so you can leverage them to help make the client more successful. This will give you increased odds of winning the client.
  • 22. CAMPAIGN PLANNING QUESTIONS • What are my relative vulnerabilities? This is the corollary to number four above. Maybe you have less experience than the competition. Maybe another company is the incumbent service provider and you are the challenger. Maybe you are usually at the higher-end of the fee scale. Knowing what your relative vulnerabilities are will allow you to prepare in advance to either turn them into advantages or at least diminish them as vulnerabilities. With good preparation and call planning you can have your responses to 'objections' and tough questions at the ready when you need them. 22 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • What are my relative vulnerabilities? This is the corollary to number four above. Maybe you have less experience than the competition. Maybe another company is the incumbent service provider and you are the challenger. Maybe you are usually at the higher-end of the fee scale. Knowing what your relative vulnerabilities are will allow you to prepare in advance to either turn them into advantages or at least diminish them as vulnerabilities. With good preparation and call planning you can have your responses to 'objections' and tough questions at the ready when you need them.
  • 23. CAMPAIGN PLANNING QUESTIONS • What actions do I need to take before the next call? We all have to-do lists that help us do what we need to get done. By taking the time to answer questions 1 through 5, your business development and sales call planning to- do list will be as good as it possibly can be because your actions will be: ▫ Informed by the knowledge of your client's situation ▫ Guided by your goals for the client from a business development perspective ▫ Built to help you achieve your desired outcomes ▫ Planned with the knowledge of your relative strengths and vulnerabilities in this particular business development situation • 23 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • What actions do I need to take before the next call? We all have to-do lists that help us do what we need to get done. By taking the time to answer questions 1 through 5, your business development and sales call planning to- do list will be as good as it possibly can be because your actions will be: ▫ Informed by the knowledge of your client's situation ▫ Guided by your goals for the client from a business development perspective ▫ Built to help you achieve your desired outcomes ▫ Planned with the knowledge of your relative strengths and vulnerabilities in this particular business development situation •
  • 24. Here are 10 quotes of mine I use when I’m working with salespeople and companies on sales prospecting: 1. Until you contact the customer, you haven’t done anything. 2. It’s prospects that buy; not suspects. 3. Thinking about a prospect does not qualify as prospecting. 4. Selling to your mother is not prospecting. 5. Networking is not prospecting. 6. The confidence you have going into the sales call will determine the level of profit you have coming out. 7. The number of sales calls it takes to close a sale is determined more by your own belief system than by the customer’s willingness to buy. 8. A prospect is not a prospect until they’ve shared with you a piece of proprietary information. 9. The most valuable part of the prospecting process is your own time. 10.Answering the phone, and taking an order from a person who is reaching out to you is not prospecting…it’s called customer service 24 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et 1. Until you contact the customer, you haven’t done anything. 2. It’s prospects that buy; not suspects. 3. Thinking about a prospect does not qualify as prospecting. 4. Selling to your mother is not prospecting. 5. Networking is not prospecting. 6. The confidence you have going into the sales call will determine the level of profit you have coming out. 7. The number of sales calls it takes to close a sale is determined more by your own belief system than by the customer’s willingness to buy. 8. A prospect is not a prospect until they’ve shared with you a piece of proprietary information. 9. The most valuable part of the prospecting process is your own time. 10.Answering the phone, and taking an order from a person who is reaching out to you is not prospecting…it’s called customer service
  • 25. What is an OBJECTION • A true feeling about your product • A flaw in your presentation • A positive or negative reaction to your offer • A lack of needed information • A misunderstanding or doubt • A counter tactic to encounter a push • A BUYING SIGNAL 25 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • A true feeling about your product • A flaw in your presentation • A positive or negative reaction to your offer • A lack of needed information • A misunderstanding or doubt • A counter tactic to encounter a push • A BUYING SIGNAL
  • 26. If you have any questions at all please do not hesitate to send a note or call. My email address is: wm@synergymanager.net 26 If you have any questions at all please do not hesitate to send a note or call. My email address is: wm@synergymanager.net (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et
  • 27. • is a nationally acclaimed stalwart in the field of business management with an illustrious career spanning over 25 years • He is a consultant and advisor to Board of Directors of leading companies & Chambers of Commerce; • a management trainer of high repute who has conducted over 2250 seminars in India and abroad in areas of business strategy, marketing & organization development. • a Visiting Professor to premier management institutes and staff training colleges throughout India. 27 Dr WILFRED MONTEIRO (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et • is a nationally acclaimed stalwart in the field of business management with an illustrious career spanning over 25 years • He is a consultant and advisor to Board of Directors of leading companies & Chambers of Commerce; • a management trainer of high repute who has conducted over 2250 seminars in India and abroad in areas of business strategy, marketing & organization development. • a Visiting Professor to premier management institutes and staff training colleges throughout India. website: www.synergymanager.net
  • 28. ▫ http://wilfredmonteiro.blogspot.in/ ▫ http://negotiating-wizard.blogspot.in ▫ http://salescoach-india.blogspot.in ▫ http://the-sales-champ.blogspot.in ▫ http://salesforce-excellence.blogspot.in ▫ http://strategic-selling.blogspot.in ▫ http://hrm-excellence.blogspot.in ▫ http://personal-growth-guru.blogspot.in ▫ http://thegreatmanager.blogspot.in ▫ http://leadership-by-values.blogspot.in ▫ http://therightetiquette.blogspot.in 28 Dr WILFRED MONTEIRO please view the blogspots I have developed for my participant ongoing learning ▫ http://wilfredmonteiro.blogspot.in/ ▫ http://negotiating-wizard.blogspot.in ▫ http://salescoach-india.blogspot.in ▫ http://the-sales-champ.blogspot.in ▫ http://salesforce-excellence.blogspot.in ▫ http://strategic-selling.blogspot.in ▫ http://hrm-excellence.blogspot.in ▫ http://personal-growth-guru.blogspot.in ▫ http://thegreatmanager.blogspot.in ▫ http://leadership-by-values.blogspot.in ▫ http://therightetiquette.blogspot.in website: www.synergymanager.net (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.n et
  • 29. CONTACT Dr Wilfred Monteiro EMAIL: wm@synergymanager.net website: www.synergymanager.net SYNERGY MANAGEMENT ASSOCIATES since 1993 HR Systems Design Policy Deployment Talent Management innovations Best Practices enablement Competency based HRM H R Systems Metrics & Audit 29 (c) copyright 2010 Dr Wilfred Monteiro www.synergymanager.net