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McGraw-Hill/IrwinMcGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved.Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 3Chapter 3
TheThe
PersonalPersonal
Selling ProcessSelling Process
The sales process itself plays an
increasing role in creating
customer value.
Neil Rackham
3-3-22
THE EIGHT STEPS OF THE SALES PROCESS
8. Follow-up
7. Gaining Commitment
6. Meeting objections
5. Presentation
4. Need Assessment
3. Approach
2. Preapproach
1. Prospecting
3-3-33
1) Prospecting:1) Prospecting: The method or system by which sales-The method or system by which sales-
people learn the names of people who need the product and canpeople learn the names of people who need the product and can
afford it.afford it.
 Leads can be identified through…Leads can be identified through…
– Referrals from customersReferrals from customers
– Referrals from internal company sourcesReferrals from internal company sources
 Sales manager; Marketing dept.; Telemarketing dept.Sales manager; Marketing dept.; Telemarketing dept.
– Referrals from external agenciesReferrals from external agencies
 GoLeads.comGoLeads.com
– Published directoriesPublished directories
 Yellow PagesYellow Pages
– Networking by the SalespersonNetworking by the Salesperson
– Cold canvassingCold canvassing
3-3-44
Qualifying LeadsQualifying Leads
AA qualifiedqualified prospect…prospect…
–Has a need for the products beingHas a need for the products being
sold.sold.
–Can afford to buy the products.Can afford to buy the products.
–Is receptive to being called on byIs receptive to being called on by
the salesperson.the salesperson.
3-3-55
Prospects (or Leads)Prospects (or Leads)
(Process of qualifying leads(Process of qualifying leads
takes place)takes place)
Qualified ProspectsQualified Prospects
(Sales rep schedules visit)(Sales rep schedules visit)
Hot ProspectsHot Prospects
(Interest expressed in(Interest expressed in
buying product)buying product)
CustomersCustomers
(Product has been(Product has been
purchased!)purchased!)
SalesSales
ProcessProcess
Figure 3-1Figure 3-1
SalesSales
PipelinePipeline
3-3-66
2) Preapproach:2) Preapproach: Planning the SalePlanning the Sale
 Includes all the information-gatheringIncludes all the information-gathering
activities salespeople perform to learnactivities salespeople perform to learn
relevant facts about the prospects, theirrelevant facts about the prospects, their
needs, and their overall situation.needs, and their overall situation.
 Adaptive selling:Adaptive selling:
– When a salesperson alters the initialWhen a salesperson alters the initial
objectives or plans of the sales processobjectives or plans of the sales process
because of new information gained from thebecause of new information gained from the
customer during the actual call.customer during the actual call.
3-3-77
3) The Approach:3) The Approach: The first minute or so of the call.The first minute or so of the call.
 A good approach makes a favorableA good approach makes a favorable
impression and establishes some degree ofimpression and establishes some degree of
rapport between the salesperson and therapport between the salesperson and the
buyer.buyer.
 Expectations in the U.S.:Expectations in the U.S.:
– Firm handshakeFirm handshake
– Professional attireProfessional attire
– Good eye contactGood eye contact
3-3-88
4) Need Assessment4) Need Assessment
The stage in which theThe stage in which the
salesperson must discover,salesperson must discover,
clarify, and understand theclarify, and understand the
buyer’s needs.buyer’s needs.
The best way to uncover andThe best way to uncover and
understand needs is by askingunderstand needs is by asking
questions.questions.
3-3-99
NEED ASSESSMENT
• Situational questionsSituational questions
How often do you change the cutting oil in your drill presses?
In addition to the hospital administrator, who else has an influence on the decision?
• Problem discovery questionsProblem discovery questions
Have you experienced any delays in getting repair parts?
In which part of the production process is quality control the most important?
• Problem Impact questionsProblem Impact questions
How do these delays in getting parts affect your production costs?
What impact do the quality consistency problems have on your production costs?
• Solution value questionSolution value question
If your inventories could be reduced by 20%, how much would that save you?
If your rejection rate on final inspection was reduced to under one percent, how much would
that save you?
• Confirmatory questionsConfirmatory questions
So, you would be interested in an inventory control system that reduced your inventories by 20%?
If I can provide evidence to you that our products would lower your rejection rate to under one
percent, would you be interested?
3-3-1010
5) The Presentation5) The Presentation
 A discussion of those product and/or serviceA discussion of those product and/or service
features, advantages, and benefits that thefeatures, advantages, and benefits that the
customer has indicated are important.customer has indicated are important.
 Built around a forceful product demonstrationBuilt around a forceful product demonstration
 Prepared presentation vs. Adaptive sellingPrepared presentation vs. Adaptive selling
 Tips for effective presentationsTips for effective presentations
– Keep it simpleKeep it simple
– Talk the prospects languageTalk the prospects language
– Stress the application of the product/service to theStress the application of the product/service to the
prospects situationprospects situation
– Seek credibility at every turn.Seek credibility at every turn.
3-3-1111
Presentation of Product, Features, Benefits, Advantages
Product Features Benefits Advantages
Camera Telephoto lens Take pictures Able to capture
from longer images of animals
distances. or people from a
distance.
Bicycle Attached water Can hold a water Don’t get dehydrated.
bottle holder bottle. bottle Don’t have to stop
for water.
Feel more refreshed.
Drill Press Multiple drill Can change bits Saves time.
bits attached without shutting Saves money.
down the machine.
Motor Oil Rust inhibitor Oil and engine Saves money.
have longer life.
3-3-1212
6) Meeting Objections6) Meeting Objections
 Objections should be welcomed because they indicate that theObjections should be welcomed because they indicate that the
prospect has some interest in the proposition.prospect has some interest in the proposition.
 In responding to an objection…In responding to an objection…
– Listen to the buyerListen to the buyer
– Clarify the objectionClarify the objection
– Respect the buyer’s concernRespect the buyer’s concern
– Respond to the objectionRespond to the objection
 Common types of objectionsCommon types of objections
– Price or value objectionsPrice or value objections
– Product/service objectionsProduct/service objections
– Procastinating objectionsProcastinating objections
– Hidden objectionsHidden objections
3-3-1313
7) Gaining Commitment7) Gaining Commitment
 Asking the buyer to commit to some action thatAsking the buyer to commit to some action that
moves the sale forward.moves the sale forward.
 Common Sales ClosesCommon Sales Closes
– The Assumptive CloseThe Assumptive Close
 ““Now what size do you want?”Now what size do you want?”
– Special Offer CloseSpecial Offer Close
 ““If you buy this product today, we’ll double the length of theIf you buy this product today, we’ll double the length of the
warranty.”warranty.”
– Summary CloseSummary Close
 ““You have agreed that our product is the best on the market.You have agreed that our product is the best on the market.
Correct? Then I suggest that you place your first order todayCorrect? Then I suggest that you place your first order today
so we can have it to you by the end of the week.”so we can have it to you by the end of the week.”
3-3-1414
8) Follow-up8) Follow-up
Reps must learn that the sale is notReps must learn that the sale is not
over when they get the order.over when they get the order.
It is much more expensive to acquireIt is much more expensive to acquire
new customers than it is to retainnew customers than it is to retain
existing customers.existing customers.
Following up to ensure that theFollowing up to ensure that the
customer is fully satisfied builds trustcustomer is fully satisfied builds trust
and is consistent with the concepts ofand is consistent with the concepts of
Relationship Marketing.Relationship Marketing.

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Personal selling

  • 1. McGraw-Hill/IrwinMcGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved.Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 3Chapter 3 TheThe PersonalPersonal Selling ProcessSelling Process The sales process itself plays an increasing role in creating customer value. Neil Rackham
  • 2. 3-3-22 THE EIGHT STEPS OF THE SALES PROCESS 8. Follow-up 7. Gaining Commitment 6. Meeting objections 5. Presentation 4. Need Assessment 3. Approach 2. Preapproach 1. Prospecting
  • 3. 3-3-33 1) Prospecting:1) Prospecting: The method or system by which sales-The method or system by which sales- people learn the names of people who need the product and canpeople learn the names of people who need the product and can afford it.afford it.  Leads can be identified through…Leads can be identified through… – Referrals from customersReferrals from customers – Referrals from internal company sourcesReferrals from internal company sources  Sales manager; Marketing dept.; Telemarketing dept.Sales manager; Marketing dept.; Telemarketing dept. – Referrals from external agenciesReferrals from external agencies  GoLeads.comGoLeads.com – Published directoriesPublished directories  Yellow PagesYellow Pages – Networking by the SalespersonNetworking by the Salesperson – Cold canvassingCold canvassing
  • 4. 3-3-44 Qualifying LeadsQualifying Leads AA qualifiedqualified prospect…prospect… –Has a need for the products beingHas a need for the products being sold.sold. –Can afford to buy the products.Can afford to buy the products. –Is receptive to being called on byIs receptive to being called on by the salesperson.the salesperson.
  • 5. 3-3-55 Prospects (or Leads)Prospects (or Leads) (Process of qualifying leads(Process of qualifying leads takes place)takes place) Qualified ProspectsQualified Prospects (Sales rep schedules visit)(Sales rep schedules visit) Hot ProspectsHot Prospects (Interest expressed in(Interest expressed in buying product)buying product) CustomersCustomers (Product has been(Product has been purchased!)purchased!) SalesSales ProcessProcess Figure 3-1Figure 3-1 SalesSales PipelinePipeline
  • 6. 3-3-66 2) Preapproach:2) Preapproach: Planning the SalePlanning the Sale  Includes all the information-gatheringIncludes all the information-gathering activities salespeople perform to learnactivities salespeople perform to learn relevant facts about the prospects, theirrelevant facts about the prospects, their needs, and their overall situation.needs, and their overall situation.  Adaptive selling:Adaptive selling: – When a salesperson alters the initialWhen a salesperson alters the initial objectives or plans of the sales processobjectives or plans of the sales process because of new information gained from thebecause of new information gained from the customer during the actual call.customer during the actual call.
  • 7. 3-3-77 3) The Approach:3) The Approach: The first minute or so of the call.The first minute or so of the call.  A good approach makes a favorableA good approach makes a favorable impression and establishes some degree ofimpression and establishes some degree of rapport between the salesperson and therapport between the salesperson and the buyer.buyer.  Expectations in the U.S.:Expectations in the U.S.: – Firm handshakeFirm handshake – Professional attireProfessional attire – Good eye contactGood eye contact
  • 8. 3-3-88 4) Need Assessment4) Need Assessment The stage in which theThe stage in which the salesperson must discover,salesperson must discover, clarify, and understand theclarify, and understand the buyer’s needs.buyer’s needs. The best way to uncover andThe best way to uncover and understand needs is by askingunderstand needs is by asking questions.questions.
  • 9. 3-3-99 NEED ASSESSMENT • Situational questionsSituational questions How often do you change the cutting oil in your drill presses? In addition to the hospital administrator, who else has an influence on the decision? • Problem discovery questionsProblem discovery questions Have you experienced any delays in getting repair parts? In which part of the production process is quality control the most important? • Problem Impact questionsProblem Impact questions How do these delays in getting parts affect your production costs? What impact do the quality consistency problems have on your production costs? • Solution value questionSolution value question If your inventories could be reduced by 20%, how much would that save you? If your rejection rate on final inspection was reduced to under one percent, how much would that save you? • Confirmatory questionsConfirmatory questions So, you would be interested in an inventory control system that reduced your inventories by 20%? If I can provide evidence to you that our products would lower your rejection rate to under one percent, would you be interested?
  • 10. 3-3-1010 5) The Presentation5) The Presentation  A discussion of those product and/or serviceA discussion of those product and/or service features, advantages, and benefits that thefeatures, advantages, and benefits that the customer has indicated are important.customer has indicated are important.  Built around a forceful product demonstrationBuilt around a forceful product demonstration  Prepared presentation vs. Adaptive sellingPrepared presentation vs. Adaptive selling  Tips for effective presentationsTips for effective presentations – Keep it simpleKeep it simple – Talk the prospects languageTalk the prospects language – Stress the application of the product/service to theStress the application of the product/service to the prospects situationprospects situation – Seek credibility at every turn.Seek credibility at every turn.
  • 11. 3-3-1111 Presentation of Product, Features, Benefits, Advantages Product Features Benefits Advantages Camera Telephoto lens Take pictures Able to capture from longer images of animals distances. or people from a distance. Bicycle Attached water Can hold a water Don’t get dehydrated. bottle holder bottle. bottle Don’t have to stop for water. Feel more refreshed. Drill Press Multiple drill Can change bits Saves time. bits attached without shutting Saves money. down the machine. Motor Oil Rust inhibitor Oil and engine Saves money. have longer life.
  • 12. 3-3-1212 6) Meeting Objections6) Meeting Objections  Objections should be welcomed because they indicate that theObjections should be welcomed because they indicate that the prospect has some interest in the proposition.prospect has some interest in the proposition.  In responding to an objection…In responding to an objection… – Listen to the buyerListen to the buyer – Clarify the objectionClarify the objection – Respect the buyer’s concernRespect the buyer’s concern – Respond to the objectionRespond to the objection  Common types of objectionsCommon types of objections – Price or value objectionsPrice or value objections – Product/service objectionsProduct/service objections – Procastinating objectionsProcastinating objections – Hidden objectionsHidden objections
  • 13. 3-3-1313 7) Gaining Commitment7) Gaining Commitment  Asking the buyer to commit to some action thatAsking the buyer to commit to some action that moves the sale forward.moves the sale forward.  Common Sales ClosesCommon Sales Closes – The Assumptive CloseThe Assumptive Close  ““Now what size do you want?”Now what size do you want?” – Special Offer CloseSpecial Offer Close  ““If you buy this product today, we’ll double the length of theIf you buy this product today, we’ll double the length of the warranty.”warranty.” – Summary CloseSummary Close  ““You have agreed that our product is the best on the market.You have agreed that our product is the best on the market. Correct? Then I suggest that you place your first order todayCorrect? Then I suggest that you place your first order today so we can have it to you by the end of the week.”so we can have it to you by the end of the week.”
  • 14. 3-3-1414 8) Follow-up8) Follow-up Reps must learn that the sale is notReps must learn that the sale is not over when they get the order.over when they get the order. It is much more expensive to acquireIt is much more expensive to acquire new customers than it is to retainnew customers than it is to retain existing customers.existing customers. Following up to ensure that theFollowing up to ensure that the customer is fully satisfied builds trustcustomer is fully satisfied builds trust and is consistent with the concepts ofand is consistent with the concepts of Relationship Marketing.Relationship Marketing.