Basic Steps in Selling

Hello Readers,
In this post we  discuss about the basic steps of  selling process.


The selling process involves a series of steps that may appear to be a sequential process, but there is a lot of movement back and forth between the different steps that will ultimately lead to closing the deal. 
The selling process will vary by industry and personal preference, but these six essential steps will help you close more deals and help grow your business.


1. The Cold Call (Meet and Greet) :
This initial introduction will set the stage for the rest of the selling process. This is the icebreaker, the time to get the customer to relax and feel comfortable. This is your chance to build rapport with the customer so you need to be sincere, friendly and humorous. You try to capture the customer's interest by asking those questions that make them think and learn more about your products and services.


2. The Qualifying Call (Customer's Needs) :
In this meeting you will ask questions to help you identify what the customer wants and needs. During this step, your open-ended questions will help you assess how the prospect will benefit from your products. If you qualify the customer properly, you will be able to fulfill his/her needs and wants. You can also establish credibility and a relationship during the meeting.


3. The Demo Call (Demonstration): 
Now you can show all you know about your products or services. The presentation will cover the 
features of the products; the physical characteristics. But most importantly, you will want to 
concentrate on the benefits of your products or services. The benefits will show the customer "what’s it for them" and why they should buy. Remember that people don’t like to be sold, but they want solutions to their problems.


4. The Proposal :
You will formalize your offer to the prospect. In short, you illustrate how your products and services solve the prospect’s problem. Your proposal will justify the prospect’s investment with you and the benefits they will receive. It is best to provide prospects with a formal written proposal accompanied by an in-person presentation of the proposal.


5. Show me the Money (Close) :
After you have presented your proposal, you should ask for their business. Ideally, the prospect will have given you signals along the way. If you have done a good job during the qualifying meeting and developed a strong proposal, you should feel confident when asking for the order. You should not feel embarrassed to ask for their business. Remember, you are really asking permission to solve their problems.


6. Relationship Building :
After celebrating the sale, it is time to get back to selling. Now you will want to ensure that your new customer is happy and satisfied with the results. Take time to follow up with the customer and start building that long-term relationship.Relationship always helps you to get repeat business from customers.

Account Manager's

Hello  Readers,

             Greetings!!!
By this post i would like to discuss few things about Account Management,and the Role of Account Managers in a Company,Which the Revenue is mainly come from selling products and services..
  Note: one of my friends expressed bit confusion statement about Accounts Manager & Account Manager.....But Both are entirely different roles in nature, First one is closely related to Finance and Accounts, Second term relates to Revenue Generation and Customer Relations...

Let we go through Briefly about Account Manage(rs)ment.

An account manager (Sales) is a person in a business who is responsible for the management of the sales and relationship with particular customers. They are usually allocated particular customers especially key accounts that provide the most business..

 Responsibilites of an Account Manager:

The responsibilities of an account manager vary depending on the nature of the business. The account manager builds client relationship by acting as the interface between the Customer service teams and sales teams within a company. The goal is to maintain the company's existing relationship with a client or group of clients, so that they will continue using the company for business. The account manager also tries to identify potential new clients and business opportunities and to persuade new customers to place business with the company.

Account managers are responsible for working with clients to identify their needs and work out how the company can best meet those requirements, in order that the client does not decide to place business elsewhere. Normally an account manager looks after existing Customers (called "farming") and leaves the creation of new accounts to the Sales team (called "hunting").

Depending on the size of the company, account managers might manage a single account or they may have a variety of clients. An account manager might have responsibility for an account at national level or at global level. Global account managers and national account managers may work together in a hierarchical or matrix structure. The trend is to move responsibility for the major key accounts to the global level.Key Account Manager
Key account management includes sales but also includes planning and managing the full relationship between a business and its most important customers. An account manager who works in this role will engage in a variety of tasks including Project management coordination, Strategic planning, Relationship management, negotiation, leadership and innovative development of opportunities. keeping record of transaction of sale and purchase goods.

Sales profile consider as Key role for any organisation actively involving in making money from exchange of their goods for a value..and sales people are considered as Revenue Generators.

But Things in the competitive Business environment are drastically changed..Every organisation Striving to achieving Desired Growth to in line with the Management and owners(share holders) Expectations....

 To achieve the collective goals of an organisation..it should be aligned according to the operating business model..

My organisation always on the first line to adapt the changes to transform towards successfull business model..For ex: ASPIRE Programme is meant for Transformation..Like this many organisation taking intiatives with various Names..

 How Many of us Agree if i say "Employee first, customer next"..This statement has been applied successfully in HCL Technologies to attain high productivity from their employees, where the company is highly dependent on the services and product engineering(here Major CAPEX is in the form of intangible human intelligence)

                                           Thanks for Reading!!!!

Increase your Sales--Easy ways

Hi, Readers,
    Here are some vital ways, which will enable your organisation to increase sales..
Make these easy steps to your sales process to create a huge increase in sales revenue.

Want to sell more? Here are 12 simple actions that you can take today that will increase both revenue and profit.

1. Reduce the number of opportunities you pursue. The more opportunities you've got, the more likely you are to make a sale, right? Wrong! If you can't give each prospect the attention they deserve, you'll lose sales you otherwise might make.

2. Increase the percentage of time you spend selling. Get somebody else to handle your paperwork, expense reports, or whatever busywork is involved with making a sale. Use the extra time to get in front of customers.

3. Stop buying technology because it's cool. Smartphones, tablets, and PCs can be important tools--but learning and supporting them can drain your productivity. Only purchase devices and programs that actually help you sell.

4. Think about your solution as a verb. Suppose your company makes glue. If you're selling "glue" (a noun), you'll talk about product features. If you're selling "gluing" (a verb), you'll talk what your offering does for your customer's business.

5. Treat selling as a service to the customer. Stop thinking that selling means "convincing" the customer, "overcoming" objections, and "winning" the business. Instead, view yourself as the customer's ally in solving a problem.

6. Terminate weak engagements--politely but immediately. The moment you find out that a customer really doesn't need what you're offering, point them in the right direction, then politely withdraw from the opportunity.

7. Don't confuse telling with selling. Rather than talking to the customer about what your product can do, ask intelligent questions so that the two of you can discover whether the customer really needs you to help solve a problem or achieve a goal.

8. Hone your lead generation effort. Based upon your own experience, observe who's just interested and who's actually buying. Hone your lead generation efforts to find more of the ones who are actually spending money on your offering.

9. Don't focus on the gatekeepers. Make sure that you're talking to the realdecision-makers, and not just the influencers and sideliners. When you meet a decision-maker, stay in regular communication throughout the sales cycle.

10. Stay on top of your opportunities. Don't lose track of what's changing inside the account. Build a short sales plan that documents the process and the players, so you don't spin your wheels trying to remember who needs what and when.

11. Outflank your competition. Find out who the other guys are calling on, and how they're approaching the account. Figure out who they're talking to, what they're saying, and defensively position your offering to counter their approach.

12. Increase your average Rupee value. It takes just about as much effort to cut a 1,000 deal as it does to cut a 10,000 deal. The more revenue you book on each opportunity, the more money you'll make overall.

                                                "Happy selling"

Sales Defined and Explained

Dear Readers,
                By this post, i am trying to discuss one of the key process in Marketing system...Nothing but "SALES". As you are aware Sales department in every organisation considered to be the "Revenue Generator'' for the Entire business..I don't want to look into the issue about the differences between Marketing and sales in this post. Because this post is purely relates to the ''Sales''.
       Sales people in every organisation represents the Brand of their company, as you know they are considered as Front line Employees.
A standard book definition defines ''sale'' as below
''A sale is the act of Selling a product or service in return for money or other compensation''..Now we will focus more deeply about this key function which will led organisation into greater heights and vice versa.
Sales process(Sales pipeline):
There is a general, overall process that successful sales people follow, although there are different perspectives on that process, including names for the various steps along the way. The next major section in this topic includes more detailed guidelines, tips and tools for each stage of one perspective on the sales process, or sales pipeline as some people refer to it.


You will find some useful content from wikepedia about sales process, so i don't want to   write it once again here.


CLIENTS:


These are the main people who will actually buy our offerings, from many surveys after there are 8 types of clients are identified..those are discussed below, it is purely the sales person choice to drop your client in the below catageory.

''The easiest way to sell someone is not figuring out what they want but how they want it.  Whether a customer or a boss, learn to distinguish the 8 different types of clients and start closing immediately''.

In the tumultuous art of salesmanship, there are hundreds of books, lectures, and self-actualization techniques occupying this vast realm. Many claim the “secret to success” lies bundled in this book versus the other contender boasting cliché allegories; fundamentals hidden beneath numerous pontificating chapters and exercises.

Speaking from an extensive background of 10 years in the “front-lines” for international companies and production events, I have purchased my fair share of these guides, ever so much in wide-eyed excitement for the golden goose, the panacea to all objections and glorious accolades from clients and the boss. However, there are few new approaches that can promise or guarantee. It is the basics: attitude, passion, drive, and knowledge.

I gather this reference list from years of experiences, numerous workshops, and colleague bantering improving upon the lengthy process of developing new clients and maintaining loyalty for increased sales goals. The current economic climate requires savvy awareness, increased determination, and perseverance.

Here is a list of eight types of clients/customers and advice in handling these personality types to adapt your pitch, thus increasing sales, office accolades, and getting your time to the top of the board. Please keep the context of information relative to your individual situation.

The Strong Need for Domination

Upon first interaction, either from new prospect or from a new lead, their trait is apparent: they are abrasive and defiant. The discussion is monopolized leaving small amount of time to inform or to overcome objections. Information is rapid from their impatience, tends to reaffirm their need of urgency, and interrupts when one introduces alternative perspectives. This situation can be frustrating; however, because of their desire to be dominant, you can use this to your advantage.

Solution: Prepare your meetings/conversations with extra information supporting a point allowing you to stay in control. By asking more open-ended questions you will keep the person talking and providing you with more information to the problem you need to solve.

Avoid the confrontation: this will ultimately, if not indefinitely, end in no gain and lost potential. Depending on the context, an ally within the company, such as partner, secretary, or other team member, may be ways to have your alternative perspectives reach this person on their own terms.

The Strong Need for Security

They are predominately silent, saying little to help you find the correct direction to their problem. Their attention may drift, leading to defensive responses. The reluctance to make decisions stems from their dislike in taking risks. Maintaining the status quo is their shield creating an uphill battle from the start. But, once reached within their terms, this type tends to be loyal and reliable: a worthy reward for any salesperson.

Solution: Make a consistent effort with frequent progress checks evaluating their temperament. If the need is not there immediately, the follow-ups prove to be a gradual reassurance from taking a risk.

Once an opportunity presents itself, provide a good, reliable track record from the product or service. Do not over-talk, listen patiently; you do not want to interrupt. A small amount of silence may allow the person to contemplate, allowing a perfect time for you to provide an ample amount of testimonials from current clients.

The Strong Need for Popularity

An overall enjoyable type from their desire to be liked. They are friendly, tend to agree quickly with your points, and avoid disagreeing with your data, leading you down a path of a “slam-dunk.” But, the distraction of their personality may lead away from ever making the decision to move forward. In some cases, they may keep you as a back-up only wasting your time since there is a perception they will close the deal.

Solution: Adapt your presentation to closed-ended questions in order to keep the prospect from talking off track. Find out more of their current situation: if you discover they have no real problem, they may just be talking. If they are a part of the decision process, use them as supporters for your proposal. Nothing would be better than to have an ally inside the meeting room when closing the deal.

The Strong Need for Self-Realization

This is a category that I find to be slow and long in the sales process. They are pragmatic and flexible in their time for you. Primarily solution-minded, they are self-assured by their experiences but not arrogant. Candid and open at times, they believe in risks only if the return is worth it. Demanding in differing opinions for constructive advice and solutions to hypothetical situations, they like to test a salesperson’s beliefs in the product or service.

Solution – Utilize the available time in narrowing their experiences to the solutions and the results. Since pragmatic by nature, objective data is necessary in accomplishing the sale.

Vague statistics and over-promising may be the demise to this potential prospect. Because they are candid with their own experiences, encourage questions relating to the pitch, either from an angle of what the pitch is not clarifying or from the perspective of what is leading them from their current supplier.

The Strong, Silent Type

Different from the security-driven type, they force the salesperson to do all the work. The entire “dog-and-pony show” does not sit well; they are neck deep in their own duties than to be concerned either with a proposal or information toward a solution. Uncooperative in answering questions, even closed-ended, they are a challenge to the salesperson and the salesperson’s assertions.

Solution: The significant key is being completely prepared not to waste the customer’s time. Understanding they would rather be doing something else, keep your pitch as short as possible without losing any of the important points to their needs.

Since they tend to ask or to answer little questions, be clear-minded to your objective. A good direction can be to draw the customer into a dialogue of conversation from their experiences relating to the product. Time is critical to them so if the product or service can save time or workload, use this.

The “I Can Get It Cheaper Somewhere Else” Type

This is self explanatory: always insisting they know somewhere else it is cheaper or they have a current supplier that provides a discount.

Solution: Early in my experiences, I usually shuffled this type deeper in my pipeline, but I began to understand that I already knew exactly how to proceed: let the product and objective data speak for itself.

Get information before you start into your product or pitch, especially the price they believe, or can get it at. This is a classic “pay for what you get.” The more information they can provide can lead you to research on the competitor. Display the true value they are getting with their current supplier versus the benefits from your prospective item.

Their current supplier might be cheaper, but calculate how much they lose if their orders are incorrect, late, or have no customer support, for example.

The I’m Everyone’s Friend, Salesman Type

Similar to the popular type in constantly drawing you off track with their sheer humor and off-beat casualness, you fail and fall into their trap. Their main difference is the clever way they get you to drop your defenses into providing lower pricing or additional service than you would originally have offered to a prospective client. Consider it ironic: you were sold when you were supposed to sell. And you lose out on your incentive for the sale.

Solution: Stick to business. The casual banter is always welcome; however, keep in mind what you are trying to do and what they are trying to do. Because of their nature, the innate ability to barter price with promises of future orders, insist on talking about the products and keeping the person involved by asking your own questions without getting off track.

Remember, business is a two-way transaction.

The Real Tough Buyer

The true competition for all salespeople. They make you work for their business, period. They are knowledgeable, discuss intelligently point for point your competition, and breakdown your product with a pros-and-cons formula.

Solution: Their drive for a hard bargain can cut into your pricing range but they are fair and logical in your efforts.

Being honest with the bargain and the follow-through is huge to them. Your personal attention is critical to their decision-making process. Never over-promise. The more you know about your product to combat his information on your competitor’s, the better you will close.

Always remember, salesmanship is an art. There is only so much that can be taught. The resilient attitude, the unflinching confidence, and the intuition to your prospect’s needs are the fundamentals and should never be forgotten. Take a moment to think about some of your current clients or prospects and decide if they do personify these traits.

So My Dear Friends,

"

 The next time you call could be your next close."