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CBTG Meeting Tucson - May 2008 Thursday PM Session

CBTG Meeting Tucson - May 2008 Thursday PM Session. Updating Your Sales Approach. Rob Haislip Vice President – Franchise Support U.S. Structures, Inc. Why does it need updating?.

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CBTG Meeting Tucson - May 2008 Thursday PM Session

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  1. CBTG Meeting Tucson - May 2008 Thursday PM Session

  2. Updating Your Sales Approach Rob Haislip Vice President – Franchise Support U.S. Structures, Inc

  3. Why does it need updating? Show of Hands - How many of you have made changes / improvements to the following within the last 12 – 18 months: • Your GDS Systems? • Your Profile Management Systems? • Your On-Line Booking Systems? • Your Preferred Vendor Relationships? • Your Sales Approach?

  4. Enough said…..Thank you for your time. Questions?

  5. You need to update your sales approach because: • The sales process is more complex • Buyers are more sophisticated and have access to tremendous amounts of information • Competition is intense…especially among internet based travel companies • You are selling value, not price…you are selling a high $ volume item (a travel program) and not a low $ volume one (an airline ticket)…more on this later

  6. Much of today’s session is based on information contained in these two books:

  7. The Stages of the Sales Process 1) Preliminaries 2) Investigating 3) Demonstrating Capability 4) Obtaining Commitment Neil Rackham, “SPIN Selling” Prospecting Fact Finding Presentation Closing Sales Lead / Research / Sales Call / Proposal / Demo / Close / Service

  8. Findings from Neil Rackham’s research at Huthwaite, Inc for “SPIN Selling”(based on numerous studies involving many thousands of sales calls) • While competence at all 4 stages is important to sales success, success in the “larger sale” depends upon how the Investigating stage is handled • Closing skills are important in smaller low dollar sales, but are much less important in more complex and expensive sales • Questions persuade more powerfully than any other form of verbal behavior • There is a clear statistical association between the use of questions and the success of the interaction • The more you ask questions, the more successful the interaction is likely to be…to a point • Some types of questions are more powerful than others • And we are not just talking about “Open” vs. “Closed” questions

  9. SPIN Selling by Neil Rackham Situation Questions Problem Questions Implication Questions Need-Payoff Questions QBS by Tom Freese Status Questions Issue Questions Implication Questions Solution Questions What types of questions do you mean? High # Low # Low # High # Unsuccessful Successful

  10. Escalating the “Focus” of your questions High Mutual Value Solution Emotional Decisions Need-Payoff Implication Implication The Value Line - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Issue Problem Status Analytical Decisions Low Mutual Value Situation “The Secrets of QBS” by Tom Freese

  11. Needs – The gap between “what is” and “what could be” Implication questions Pain German Shepherds Needs Solution / Need-Payoff questions Desire Gold Medals “The Secrets of QBS” by Tom Freese

  12. Needs can be strong or weak:Active or Latent (QBS) / Explicit or Implied (SPIN) Total Market Opportunity Active / Explicit Needs Latent / Implied Needs “The Secrets of QBS” by Tom Freese

  13. The Stages of the Sales Process 1) Preliminaries 2) Investigating 3) Demonstrating Capability 4) Obtaining Commitment Neil Rackham, “SPIN Selling” Putting what you have learned to use in the Demonstration /Presentation stage requires the use of FAB’s: Feature Advantage Benefit (What it is) (What it does) (The Solution it offers) the client

  14. In closing…let me leave you withtwo OTHER key thoughts • Spend more time asking questions during the Investigating stage of the sales process • Ask a limited number of Situation questions to build credibility • Ask more Problem questions to uncover client issues • Ask more Implication questions to discover the consequences of those problems on the client • Ask Need-Payoff questions to focus the client on your solutions to their problems • Focus on how your solution benefits the client and meets their Needs during the Demonstrating stage of the sales process • To alleviate Pain, clients will seek a solution that provides relief • To satisfy a Desire, clients will attempt to improve the status quo

  15. Thank you for inviting me to speak at your meeting! Do we have any questions?

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