Prospecting & Qualifying

Pre-approach

Approach
Presentation Handling Objections Closing Sale Follow Up
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Prospecting
Process of identifying the prospective buyers Diff between Prospects & Suspects Different ways of identifying the prospects: -Acquaintance References Method (Friends, Family, Relatives)

- Cold Calling Method (Random Prospecting)

- Center of Influence Method (Influential)

- Personal Observation Method

- Direct Mail/ Telephonic Method (upgrading)
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-Company Records (old existing/lost, new customers)

- News Papers (Tenders, Requests)

- Middle Men

- Other Methods (old sales officer, junior sales officer, trades, exhibitions, )

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TIMS- Prof. Adarsh J Navale

Pre- Approach
Knowing the prospects likes & dislikes, his needs, preferences, behavior, economic and societal status etc.. Preparing with the needed information tools, and plans for approaching to give an effective presentation

Maximum time to be spent on those prospects who are likely to give larger volume Spend less time on planning, organizing, report generation etc..
Follow grading of the prospects.
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Approaching
Stage when the prospect and the salesman come in contact (face to face) Opportunity to interact, observe and understand much better. (Make best use)

Getting the Attention of the customer/prospect and persuading are the two main objectives
First Few minutes to impress and grab a chance to explain further.
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Methods Of Approach:
Different methods are suitable for different customers, products/services Possibility of starting the approach with one method and ending it with another

Cashing in on Brand Name or the Companys Reputation

Very common method Introduces himself based on the same Uses companys reputation/ Brand name to attract attention Not suitable to the brands/companies less known
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Customer Benefit Approach: (AV) Making prospect realize that the product/service will benefit him Ex: Would you like to cut down your electricity bill by 40% Developing the interest in the customer to know more

Innovative Product To Open The Door To Sales:

New product which is appealing, attractive, best designed, unique Handing over the product to the prospect to examine and satisfy himself by having first hand knowledge and complete information
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The Premium Approach:

Using gifts/novelties as door openers Used to draw attention The Shock Approach: Frightening the prospect / making him feel insecure Useful for products like: life insurance, health & fitness products..

The Approach of Making Prospects feel that he is important:

Pamper their egos and make them feel that they are important
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The Survey Approach:

Surveying needs & preferences of the customer before approaching Helps in making a focused approach and in making a successful sales presentation

The Interactive Approach:

Asking some question on the related topic at start of the approach Question to be specific, appropriate and match the requirements of the prospect Can be combined with other approaches
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Presentation & Demonstration:

Very important as some times a good presentation is enough to close a sale

Includes the interiors decoration & appearance of the articles

Presenting the product/service
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Essentials of Good Presentation:

Presenting the product quickly when the product is at eyecatching location- creates good impression on the prospects and feeling of importance Best and neat packaging- does of the selling job Explain the benefits, features & prices in simple terms Can present with the help of models, pictures, videos/slides Try & give an opportunity to the prospect to touch and feel the product
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 Never compare/criticize your products/services with those of rivals

Show only those product/service of that quality which prospect is looking for-helps in quick buying decision Too many varieties confuse & too less varieties makes choice process difficult Making the product/service appeal the prospects senses- half the battle is won
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 Demonstration an exercise to prove the characteristics of the product Creates +ve impression on prospects Highlights attributes of the product- utility, performance, service and quality Helps the prospect to verify the points of presentation Too many varieties confuse & too less varieties makes choice process difficult Avoid getting into any sort of arguments
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Methods of Sales Presentation:

Stimulus Response Method
Formula Method Need- Satisfaction Method Team Selling Method Consultative Selling Method
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Stimulus Response Method:

Also called as Canned Approach- Memorized Sales Presentation

Making a right presentation(stimuli)- getting a favorable response

Usually presenter doesnt knows much about the needs and wants of the prospect- Salesperson just presents all the attributes Another attempt is made to sell if the prospect is not ready to buy. Usually used when the product is non-technical- used by doorto-door sellers, telemarketers Prof. Adarsh J Navale 1/22/2013 10:22 PM TIMS16

Overcoming/Handling the Objections:

Objections = Resistance = Opposition Appears during sales presentation or when the salesperson asks for a order- Shows prospect has some interest They should be welcomed- to be answered satisfactorily Two types of objections can arise: Psychological (hidden) and Logical (real/practical).
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Methods of Handling Objections:

Asking Questions Turning an Objection into Benefit

Deny objections tactfully

Third-party certificate & Compensation

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Asking Questions
Listening to the buyers objection carefully. Carefully replacing the objections into a question and get buyers acceptance of the question. Turn an objection into a benefit An experienced sales person with +ve attitude can do it. Deny objections tactfully sometimes objections are incomplete or not correct- carefully deny either directly or indirectly
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Third-party certificate:
Taking a third-partys experience as an example to convince the customer. usually done if the customer has a doubt about quality/ performance Compensation: When the objections are valid

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The Close of a Sale:

Last step of selling- after answering all the objections The second and final main objective of making a sales call

Includes receiving order from the prospect on immediate basis

Depends on judgment of opportunity, mood, perception, attitude Based completely on earlier steps of the process
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 Trial Close- Checks the attitude/Asks opinion of the prospectbefore actually closing
Reason for using Trial Close
Negative
TRIAL CLOSE

Positive

PRESENTATION

CLOSE SALE

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When to Close a Sale?

Buying Signals:
Examines the product. Asks another persons opinion Asks questions Becomes friendly

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Closing Techniques
Alternative- Choice Close

Minor Point Close

Assumptive Close Summary-of-Benefits Close T-account (or modified T- account) or Balance Sheet Close Special Offer/ Special Deal Close.

Probability Close
Negotiation Close
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Follow-UP & Services:

Check Customer Order
Delivery period, address, advance payment

Plan Follow-Up Visit at the Time of Delivery Account Penetration Relationship Marketing

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