Top Ten Sales Approaches (Sales Approach No. 8)

Sales Approach Number 8

Problem-Solution Selling

One of the major tasks of salespeople is to help buyers solve specific problems. Following are some problems that Golden Rule Sellers can help solve:

Buyer needs to purchase an economical car for commuting to a new job.

Buyer wants wholesale merchandise that will sell faster and more profitably in his store.

Buyer needs a new cell phone contract that will allow them to travel farther without roaming charges.

Buyer would like a unique gift that will be memorable to a new friend.

Buyer must have a new chronograph watch immediately — for less than $50.

Buyers want an unforgettable wedding event planned for them.

The key to problem-solution selling is clearly defining the problem. How can you, as a seller, do that? By asking relevant questions and listening to the answers. Salespeople have a tendency to talk more than listen, so it's not as easy as it sounds. As much as possible, ask a question for every one that you answer.

“Does this widget come in blue?”

“Yes, it does. Would you like to take a blue one with you today?”

How can I know what questions to ask buyers?
What tips do buyers give you as you listen to them? How do their responses relate to the features and benefits of your products? What knowledge can you share with them, in question form, to help them clarify their needs? Will careful questioning to identify the problem help them make a better buying decision? Questions work.

Remember that each person to whom you sell has a problem they want solved. You can't help them until you clearly understand the problem — and get them to agree on it. Then the solution becomes much easier. In addition, each feature and benefit of your product can be restated as a possible solution to the agreed-upon problem. Using questions to define the problem not only gathers the information you need, it also illustrates your personal interest in striving to find an acceptable solution for the buyer as you listen to what they have to say. That's the way that most people want to be sold.

Sales Approach Number 9 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 7)

Sales Approach Number 7

Selling on Reputation

Trust is a key to productive transactions. If the buyer gives you a check and you don't trust that the indicated funds are currently deposited in the named bank, you probably won't accept it as payment. Equally, if the buyer doesn't trust you to accurately represent the features and benefits of what is being offered, the buyer won't buy it. As noted in Chapter 2, trust is “assured reliance on the character, ability, strength, or truth of someone or something.” Once you build a widely known reputation for trustworthy selling, your job will be significantly easier.

Another name for developing a positive reputation in business is branding. Branding is promoting trust in a product or service — or a person. Brands are valuable. Millions of dollars are spent on developing consumer trust in a brand of cars, restaurants, toothpaste, and other items. The majority of products that you will sell have brands. Your employer probably spends advertising and promotional dollars on developing a reputation for selection, service, or price.

Businesses are built on two of three criteria: selection, service, price. For example, discount stores usually sell on price and selection, but not on service. Luxury cars are often sold on selection and service, but usually not price. A specialty store may sell on service and price, but not selection. Rarely can a business build a reputation on all three criteria. That's because lower prices usually mean less service or less inventory.

How can you develop your sales reputation — your “brand”?

Sell as you want to be sold.

Only sell products and services that you can honestly represent to buyers.

Be accurate and truthful in your transactions.

Encourage appreciative buyers to tell others about their experiences with you.

If appropriate, give out your business card to build name recognition.

One of the greatest assets you can have as a seller is a reputation for honest and accurate dealings with others. It will gain you repeat and referral customers and help you develop an income level above those who rely on naive buyers for their sales.


Sales Approach Number 8 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 6)

Sales Approach Number 6
Friendly Selling

“Hello, ma'am! That certainly is a beautiful purse. And I'm so glad that you stopped by today. I really want to save you some money. It's your lucky day!”

Everybody wants a friend. Buyers want friendly sellers who will help them make informed decisions about important purchases. However, buyers know that some salespeople will feign friendship to make a sale. Buyers realize that true friendship is built over time and shared experience, and it has no profit motive. They don't want “we're good friends” selling. What they really want is friendly selling.

To be friendly is to show kindly interest and goodwill. It certainly isn't hostile or adversarial. How can you be a friendly seller?

As appropriate, ask and use the buyer's name.

Ask the buyer relevant purchasing questions.

Listen to the buyer's responses and ask for clarifications as needed.

Help the buyer to feel important to you and worthy of your time and efforts.

Appreciate the buyer's time and efforts to purchase from you.

Be knowledgeable about the features and benefits of what you sell.

Be helpful.

In many sales situations, “friendly” is exactly how most people want to be sold. Friendship assumes a position that you may not have earned with the buyer yet. Friendly help is automatically earned by everyone you meet. Once you have established an ongoing relationship with a buyer, know their needs and wants, and are familiar with their likes and dislikes, you may be on the road to becoming a “good friend.” When this occurs, you must be even more careful in how you help make decisions. Meantime, be friendly to all buyers. That's probably how you want to be sold.

Sales Approach Number 7 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 5)

Sales Approach Number 5

The Hard Sell

Most buyers don't respond well to the hard sell. Hard sell is an aggressive sales technique that relies on fear and intimidation to push buyers to a preselected decision. Common hard-sell tactics include:

“If you don't buy this today, it will be gone tomorrow and you will have lost it.”

“Don't tell me that you can't afford it; I know you can.”

“I absolutely guarantee that you will be 100 percent satisfied with this product.”

“You don't have to ask your spouse; you can make the decision right now.”

“Look, if I don't sell this unit, they're going to fire me. You don't want that, do you?”

Unfortunately, the hard sell sometimes does work. Some buyers are fearful or intimidated by these pressures and buy something they really don't want. Fortunately, consumers are learning that they don't have to accept hard-sell tactics; they have choices.

Psychology studies show that soft sell wins more sales than hard sell — and the customers typically are happier with their decision. Soft selling says, “Here are some things you should consider in making a decision.” Hard sell says, “I've made the decision for you; accept it.”

Of course, hard-sell salespeople are easy to spot and just as easy to walk away from. Less obvious are semihard sales tactics used by many salespeople. The tactics are subtler and less confrontational, but often put undue pressure on the buyer to make the purchase. Golden Rule Sellers don't use high-pressure tactics. They prefer to sell as they want to be sold.

 

Thats all for today. Here is what I want you to do:

 

1.Select and write on your note pad what tips and tricks you leanrt uptill now.

2. Based on that conduct a group discussion as to what do you think about these top 5 sales approaches.

3. We will then be testing you by asking you to do sales based on each approach.

I hope you are finding the e-course useful! In my next email, that is on Saturday, InshAllah I'll be focusing on rest of the 5 powerful salesapproaches to help you build a solild foundation for sales. All these trainings whether it is one on one coaching, presentations, e-course, tasks are to prepare you to step into the market. Once you are ready, you can definately rock and roll. I would also love to hear your feedback so feel free to write and express.

Sales Approach Number 6 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 4)

Sales Approach Number 4

The Soft Sell 

Some products and services don't require selling techniques. The buyer only needs some guidance in making the selection. Many buyers appreciate this approach and prefer to purchase through salespeople who use what's called the soft sell.

Soft sell is the use of suggestion and gentle persuasion to make a sale rather than aggressive pressure. For example, in a salessituation the seller may say:

“We've sold a number of those widgets in the last week.”

“Is this feature one that you are looking for in a widget?”

“I bought one for myself and am very happy with it.”

“If you're giving this to children, I'd recommend the model 89 that has brighter colors; it actually costs less.”

“Consumer Reports recently rated these highly.”

Soft selling uses statements or questions to suggest a conclusion. There is no coercion. You state a relevant fact and give the buyer room to make the decision. Soft selling is especially effective when buyers expect a hard sell (see below). It can be disarming and develop a relationship of trust that salespeople need to help buyers make appropriate purchases.

Sales Approach Number 5 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 3)

Sales Approach Number 3

Selling on Price

The old business maxim is: If all else fails, sell on price. Unfortunately, too many salespeople apply this rule too quickly in the sales process. Instead, they should be helping the buyer understand their product's or service's features and benefits as well as how they better the competition.

Rather than sell on price, salespeople are more successful if they sell on value. Value is worth. Your product or service costs more because it is worth more. After saying so, you must back it up with facts, then review the unique features and benefits it offers the buyer. If you are selling tires, for example, you can point out that:

·  The cost per thousand miles-driven is actually lower than cheaper tires.

·  Included in the price is free repair of flats for the life of the tire.

·  These tires have the highest safety rating of all consumer tires and safety is important.

·  If budget is the issue, these tires can be purchased on a no-interest payment plan.

Unless you are selling a commodity, a widely available product, avoid the temptation to sell primarily on price. It will reduce your employer's profits (where your salary comes from) and encourage the buyer to attempt discounting future purchases from you. If you are authorized to offer price reductions, do so as necessary to make the sale, but don't sell on price alone. Instead, help buyers understand the value of the features and the benefits they will derive. Your buyer will be happier if she or he understands the value of what is purchased.

Whatever you sell, you should know what your competitors charge for it. Put your buyer hat on and visit their business as often as possible, checking prices, service, and other factors that draw buyers. If your buyers also purchase online, check out your online competition as well. What can you as a seller or your employer do to minimize competition?

Sales Approach Number 4 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 2)

Sales Approach Number  2

Selling Against Your Competition 

Remember the story in Chapter 1 about the bear chasing two people? The object of the foot race, one person quickly determined, was not to outrun the bear but to outrun the other person. Selling against your competition is like that. Your product or service doesn't have to be the best in the world. It only has to meet the buyer's needs better than your competitors do.

Most products are a standardized commodity. The tube of toothpaste you buy from one store is exactly the same as that available at dozens of other nearby stores. To beat your competitors, the retailers' job may be to offer better service. They make shopping more convenient, are open longer hours, have helpful clerks standing by, are friendly and considerate, and use other service enticements to beat their competitors. Industrial salespeople do, too. They may provide additional services that their competitors don't. They offer spare parts, assistance with installation, toll-free technical help, free shipping — whatever it takes to beat the competition.

Service businesses, especially, need to sell hard against the competition. Their business is service. Salespeople must make sure that buyers and prospects clearly understand the benefits that the service business they represent offers. And they must make their service the best available to the buyer. Every business has competition for its buyers' dollars.

Who is your competitor? In this electronic age, any business that potentially can serve your buyer is your competitor. How can you compete against these businesses? You can't — unless you know who they are and what they offer. Get on their mailing lists, do online research, and ask your customers about your competitors. Think like a buyer to be a smarter seller.

Sales Approach Number 3 [...to be continued]

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Top Ten Sales Approaches (Sales Approach No. 1)

Ten Top Sales Approaches

Golden Rule Selling is your goal: Sell as you want to be sold. But what does that mean? What are the proven approaches and techniques for selling products and services? How can new salespeople develop these techniques or experienced ones add to their repertoire? This chapter presents ten of the most frequently successful sales approaches that all sales-people should know. What is sold and to whom will dictate the most appropriate technique. These ten should be in your sales skill kit.

Sales Approach Number 1

Features and Benefits

What is it that salespeople offer to buyers? Products and services, yes. But buyers don't purchase products and services. They buy features and benefits. A feature is a characteristic. A primary feature of a car is that it gets you from here to there. It is transportation. A benefit is what that feature gives you. It is safe, reliable, stylish, economical transportation. It makes you look cool parked in traffic.All products and all services that you will represent as a seller have features and benefits. In most cases, the features are listed by the manufacturer. You won't have to guess. The features of a specific computer might be:

·  22-inch flat panel monitor

·  240 GB hard drive

·  1 GB dual-channel memory

·  2-year warranty

Your job, as a Golden Rule Seller, will be to help specific customers understand how these features relate to benefits they need or want.

·  The large flat-panel monitor makes viewing easier, yet it doesn't take up much desk space.

·  The large hard drive can store thousands of digital photographs and MP3 music files for you.

·  The dual-channel memory makes your computer operate faster and smoother.

·  The extended warranty assures you that the manufacturer will take care of any hardware problems for a full two years after purchase so you don't have to worry about it.

As you know from your experience as a buyer, benefits are what you are really shopping for. You have a problem: you want a computer that will efficiently let you manage your photos and music. If you can find a computer that has the features and benefits that solve the problem at a price within your budget, a sale is made. Some salespeople call benefits the “sizzle.” The features are the cooking steak, and benefits are the sizzle that makes it appetizing. A thick steak on the barbeque may make you salivate (unless you're a vegetarian) as you anticipate the taste of it. The red steak in the butcher shop isn't as appetizing without visualizing how it will taste when cooked. That's why professional salespeople help buyers focus on the benefits, the sizzle, of their product or service. Not sure what features and benefits your products or services have? First, read the packaging; it often lists the most important features, and you can deduce the benefits. Second, check for documentation, if available, within the product packaging; it typically includes specifications. For services, make your own list of what the service is, who needs it, and why. Interview the service providers as needed to learn their process and to identify its benefits to buyers.

Before you sell products or services, make a comprehensive list of its features and a matching list of the benefits of those features to the typical buyer. Then help individual buyers recognize the features and benefits that most apply to their needs and wants. That's Golden Rule Selling.

Sales Approach Number 2 [...to be continued]

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Differences b/w Elevator's Pitch, Sales Pitch and Sales Letter

Elevator pitch - An elevator pitch (or elevator speech or statement) is a short summary used to quickly and simply define a product, service, or organization and its value proposition. The name "elevator pitch" reflects the idea that it should be possible to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes.

A variety of people, including project managers, sales people and policy makers commonly rehearse and use elevator pitches to get their point across quickly. An elevator pitch may be presented in oral, written, and video formats.


An elevator pitch is often used by an entrepreneur pitching an idea to a venture capitalist or investor to receive funding. Venture capitalists often judge the quality of an idea by the quality of its elevator pitch and will ask entrepreneurs for their elevator pitches in order to quickly weed out bad ideas and weak teams. Elevator pitches are also used in many other situations. Personal uses include job interviewing, marriage interviews, and summarizing professional services.

Sales pitch - In selling technique, a sales pitch is a line of talk that attempts to persuade someone or something, with a planned salespresentation strategy of a product or service designed to initiate and close a sale of the product or service.

A sales pitch is a planned presentation of a product or service designed to initiate and close a sale of the same product or service. A salespitch is essentially designed to be either an introduction of a product or service to an audience who knows nothing about it, or a descriptive expansion of a product or service that an audience has already expressed interest in. Sales professionals prepare and give a sales pitch, which can be either formal or informal, and might be delivered in any number of ways.


Sales letter - A sales letter is a piece of direct mail which is designed to persuade the reader to purchase a particular product or service in the absence of a sales man. It has been defined as "A form of direct mail in which an advertiser sends a letter to a potential customer." It is distinct from other direct mail techniques, such as the distribution of leaflets and catalogues, as the sales letter typically sells a single product or product line, and further tends to be mainly textual as opposed to graphics-based. It is typically used for products or services which, due to their price, are a considered purchase at medium or high value (typically tens to thousands of dollars). A salesletter is often, but not exclusively, the last stage of the sales process before the customer places an order, and is designed to ensure that the prospect is committed to becoming a customer.

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