4.00 Channel mgt, Selling promotion and Economic trends

1. 4.00 Channel mgt, Selling promotion and Economic trends 4.04 Employ sales processes and techniques to enhance customer relationship and to increase the likelihood of making sales.

2. Explain why salespeople should be able to recognize types of customer personalities. • Professional salespeople must be able to modify to separate personalities and other situations. http://EzineArticles.com/3942700 • Helps you to adapt yourself to your client; Every customer will be different • If you are able to quickly identify the personality style of the customer, you will know the "hows" and "whys" of what to say to meet their needs • Once the customer feels that you truly understand them and feel an emotional connection, they will be more willing to buy from you • Improves the odds that the sales person can persuade their potential customer that the product best meets the customer’s needs. • To be effective your sales talk must address different customers in different ways

3. Explain the importance of acting appropriately for different customer personality types. • Every customer is different, so be prepared to adjust your approach to each • If you use the wrong personality type approach, it is likely the customer will not be willing to buy from you • Customers buy when they are understood • The wrong approach can lead to misinterpretations between the salesperson and customers.

4. Identify types of customer personalities. • Aggressive • One possible advantage of the Aggressive visitor is that they tend to be fast in making a purchase decision. If you can prove your worth to them, you'll have a quick sale. • Concentrate your sales elements on calling out the main benefits and summarize content using bullet points. • The bottom line? Tell them what your product or service does that helps solve their problem. • Systematic • The Systematic customer personality types require facts and information (typically lots of it) before making a purchase decision. • This means taking the time to provide additional details and documentation to prove your product or service does what you say. • This personality type requires information that is systematically organized and makes logical sense. Accuracy is important to them.

5. Identify types of customer personalities. • Impulsive • Impulsive customer personality types are not always sure what they are looking for, but if they chance across something they think can help them, tend to make an immediate purchase. • Social • This personality type is usually slow to reach a purchase decision as they prefer to check in with others in an attempt to find someone who has used the product. • Social customer types want to know who else has used the product and if it performed as advertised. Testimonials are an important part of converting Social personality types. http://www.small-biz-marketing-tips.com/customer-personality-types.html

6. Identify types of customer personalities. • The egotistical client • This client eternally wants only superior, great reputation and high prestige products • This client will only go for your product or services if you can persuade them that it is the newest, most advanced and most appropriate there is on the market. • The friendly customer • The friendly customer gets on best with salespeople who have the same type of personality. • Agreeable clients are extremely uncomfortable in the vicinity of boastful or authoritarian salespeople, who they think treat them like a child.

7. Identify types of customer personalities. • The business-like authoritarian customer • Can handle facts and figures • Furnish this group of clients with comprehensive facts and make them sense that they are the one making the decision. Do not pressure them - employ logical arguments instead. http://EzineArticles.com/3942700

8. Identify types of customer personalities. The key six types: • Decisive Personalities • Impulsive Personalities • Fact-Finder Personalities • Practical or Frugal Personalities • Informed Personalities • Difficult Personalities

9. Describe the characteristics of decisive personalities. • Decisive customers are typically more forceful and assertive. • They know exactly what they want and don't want to waste time getting it. • Want to know the facts and are interested in comparing products • If you appear knowledgeable and professional and stay focused on meeting their needs, you will probably win their business

10. Describe the characteristics of impulsive personalities. • Impulsive customers are not always sure what they are looking for, but if they chance across something they think can help them, they tend to make an immediate purchase. • Impulsive visitors tend to react well to money-back guarantees and limited-time offers. • Impulsive customers typically like the stimulation of graphics, audio or video as long as it is informative and helps them make a buying decision. • Large amounts of data in the form of tables and graphs can be annoying or even overwhelming to them. http://EzineArticles.com/3942700

11. Describe the characteristics of fact-finder personalities. • Fact-finders are looking for quantitative data that helps them choose one product over another • They tend to prefer a logical approach and are “rationally” motivated buyers rather than emotionally motivated • Offering clear comparisons and using factual and verifiable specifications helps them make a decision

12. Describe the characteristics of practical or frugal personalities. • Practical and Frugal are looking for a good value for their money • It doesn’t have to be the best, but needs to fit requirements • Product specifications mixed with testimonials works well for this kind of buyer • Extra features that cost money aren’t interesting to them • Pointing out that they are getting the best “bang for the buck” is what closes this customer

13. Describe the characteristics of informed personalities. • Informed buyers have usually already studied the products before stepping into the store or the online website • The are looking for confirmation of what they already know and then wish to compare prices for similar features • Reassuring the customer that that they have made a great choice and are getting what they were looking for is the best way to sell to this customer

14. Describe the characteristics of difficult personalities. • The difficult customer usually has a poor opinion of sales people • May be based on hearsay or past experience • Doesn’t trust the selling process • May have insecurities about themselves or low self-esteem • Offering verifiable information and giving the difficult customer space and time to think is a good way to sell to them • Be available but don’t hover around them

15. Describe actions to take in handling each type of customer personality. • Decisive Personalities • Offer information • Impulsive Personalities • Question their reasons for shopping and present a product that meets their needs • Fact-Finder Personalities • Just the facts, please

16. Describe actions to take in handling each type of customer personality. • Practical or Frugal Personalities • Best “bang for the buck” • Informed Personalities • Clear comparisons of rival products • Difficult Personalities • Answer questions, then give them space and time

17. Discuss guidelines for handling all personality types. • Everything we have already discussed • The key is to know the features of the products you are selling and then tie those features to specific benefits that the individual customer is looking to get from your product

18. Handle difficult types of customer personalities. • Any type of customer can be difficult if you aren’t prepared to understand them and respond properly, so learn how to handle each type • Observe • Listen • Question and Engage

19. Define buying motive, emotional motives, rational motives and patronage motives. • Buying Motive: The reason why a customer buys a good or service • Rational Buying Motive: When the customer has conscious, logical, well thought out reasons for making a purchase. • Emotional Buying Motive: Feelings experienced by the customer through association with a product or service. • Patronage Buying Motive: The loyalty associated with a product or store.

20. Classify buying motives as emotional, rational or patronage. • Rational Buying Motives: • Product Dependability • Time and Monetary savings • Health or Safety consideration • Service • Quality • Durability • Emotional Buying Motives: • Social approval • Recognition • Power • Love • Prestige

21. Classify buying motives as emotional, rational or patronage. • Patronage Buying Motives: • Low Prices • High quality • Friendly staff • Great customer service • Merchandise Assortment

22. Describe reasons that salespeople should understand customers' needs and wants. • To successfully sell a product, it must meet a customer’s needs or wants • On occasion, a customer doesn’t understand the products that are available and the professional salesperson will work with the customer to discover their real needs and wants • Understand the underlying needs and wants allows the salesperson to select the correct product.

23. Identify reasons that customers buy. • Customers have: • A problem to solve (need) • An unfulfilled desire (want) • These can be for themselves or someone else that they know • Family • Friends • Professional (work related)

24. Classify buying motives as emotional, rational or patronage. • Emotional • Social approval , recognition, power, love, prestige (etc.) • Rational • Product dependability, time or monetary savings, health or safety issues, quality, durability (etc.) • Patronage • Brand loyalty, store loyalty

25. Describe techniques for identifying buying motives. • Listen and Question • What seems to be important to the customer? • What do they stress in their answers? • Who or what do they look at before answering a question? • Do they look at the person they came with (for approval)? • Do they look at the product or product info?

26. Demonstrate procedures for identifying customer buying motives for use in selling. • Do the things that have been addressed in the earlier slides.

27. Define the following terms: buying decision, need decision, product decision, place decision, price decision and time decision. • Buying decision – Customer agrees to purchase the product • Need decision – because of a need for it (need a winter coat) • Product decision – reputation of the product or manufacturer • Place decision – where the customer can buy the product

28. Define the following terms: buying decision, need decision, product decision, place decision, price decision and time decision. • Price decision –because of the price relative to the competitor’s product • Time decision – need more information so the customer isn’t ready to buy • Time of day or year

29. Types of Buying Decisions • Identify types of buying decisions. • Place • Price • Time • Identify factors affecting place decisions. • How and where will we sell to the customer? • How close is the store? • Does it have the item I need in stock? • Are there shipping/delivery costs?

30. Types of Buying Decisions • Cite factors affecting price decisions. • Perceived value • Discount • Perceived quality • Cost, competitors’ prices, what the customer is willing to pay • List factors affecting time decisions. • Time of year • Time of day • Need for additional information

31. Types of Buying Decisions • Explain the importance of salespeople's helping customers to make buying decisions. • Often salespeople are the relative experts on the product being offered • Salespeople are trained to help the customer arrive at a decision when the customer isn’t sure what they want or need • The salesperson offers encouragement

32. Types of Buying Decisions • Describe guidelines to follow in order to facilitate customers’ buying decisions. • Observe, listen, question and engage • Offer a mid-priced item first • Assist customer in reaching favorable buying decisions. • Select a suitable item • Demonstrate the product • Allow the customer to try it • Overcome objections • Close the sale

33. 5-104 5-105 Vocabulary Define the following terms: probing, information-gathering probes, opinion-gathering probes, and confirming probes. • Probing – a method of discovering what the customer wants • Information-gathering probes – method of gathering information about the customer and their needs • Opinion-gathering probes – aimed at getting the customer’s opinion on available products

34. Confirming Probe • Aimed at ensuring that the customer is certain about what they wish to buy • An important step before selecting a product or attempting to close a sale • Can also be used to check for objections

35. Probing • Distinguish between probing and questioning. • Probing is much like assumptive questioning • Probing is aimed at getting the customer to go into more depth without asking direct questions • This can help get a more accurate truth than the customer is prepared to give through answering questions • Questioning directly asks for information and might miss subtle cues about what the customer really wants

36. Probing • Describe reasons for probing. • The customer’s answers to questions aren’t consistent • The customer seems unsure: • About what they want • About whether the product will satisfy their needs

37. Probing • Explain benefits of probing to assess customer/client needs. • Probing is less direct and often less annoying to the difficult customer • It helps the salesperson get valuable information • Less time is needed to make a sale • Identify probing techniques. • Open ended questions • Silence • Nodding your head as they talk (to encourage more information)

38. Probing • Explain guidelines for assessing customer/client needs. • Be professional, yet friendly • Use all tools appropriate for the customer to get to the heart of what they need or want • Demonstrate procedures for assessing customer/client needs. • Do what you have learned…

39. 5-106 5-108 Vocabulary Define the following terms: sales talk and product demonstration. • Sales talk – a speech the salesperson gives to introduce him/herself, the company and the product(s) • Used to motivate the customer and focus their desires so they are more likely to purchase • Product demonstration – show, tell and touch • Inform the customer on how to use and then let them try it for themselves

40. Demonstrations • Explain the importance of an effective product demonstration. • Can mean the difference between a sale or the customer leaving with nothing • Can help the customer better understand the product and how to use it • Builds the customer’s confidence in the product and its use • Get the customer excited about the product

41. Demonstrations • Describe guidelines to follow in selecting a product to demonstrate to a customer. • Appropriate to their needs • Mid-priced product if possible • Explain guidelines to use in demonstrating products. • Involve the customer • Watch how they use it and make friendly suggestions to enhance their experience with it • Help the customer get excited about the product • Demonstrate a product. • Do the stuff above,

42. 5-109 5-110 Feature-Benefit Selling • Discuss the importance of feature-benefit selling. • Most effective method of selling • Aims at helping the customer see how the features will directly benefit the customer • Matching the characteristics of a product to a customer’s needs and wants • Customers don’t buy products, they buy what the product can do for them (Customers buy BENEFITS)

43. Feature-Benefit Selling • Describe product features that should be considered in preparing to use feature-benefit selling. • Features are basic, physical or extended attributes of a product (they are built into the product) • Features can be used to help differentiate prices for otherwise similar items (more expensive feature make the product more expensive)

44. Feature-Benefit Selling • Explain the importance of determining which features and benefits appeal to each customer. • Since the customer is buying the benefits, a salesperson must find and understand what benefits the customer wants to get from the purchase • Matching the product features that will give the customer the benefits they want will help you complete the sale • The benefit(s) must be of real value to the customer

45. Feature-Benefit Selling • Explain the guidelines for prescribing a solution to customer needs. • Listen carefully to customers as they describe what they want • Look for clues to important underlying wants/needs that haven’t been mentioned (Use probing techniques and assumptive questions) • Watch the customer during the demonstration portion, what is s/he most interested in? • Clearly show how the product meets the customer’s needs • Demonstrate procedures for prescribing solutions to customer needs

46. 5-111 5-113 Objections Vocabulary Define the following terms: objection, yes, but. . ., toss-it-back, deny it, point-counterpoint, inquiry, show 'em, testimonial, try it. • Objection – a legitimate reason, doubt, or hesitation a customer has for not buying the product • “Yes, but. . .” – indicates an objection has not yet been satisfactorily answered • Toss-it-back – “boomerang” response where an objection is brought back to the customer as a selling point (past experiences)

47. Objections • Deny it – the objection is based on misinformation (be diplomatic) • Point-counterpoint – “Superior-point” used to offset the objection with the product’s features and benefits • Inquiry – “Question” used to clarify by asking direct questions about what is bothering the customer • Show 'em – Demonstrate the product again

48. Objections • Testimonial – third party referral of positive feedback • Try it – “Satisfaction guaranteed or your money back”

49. Objections • Distinguish between objections and excuses. • Objections are legitimate reasons not to buy • Excuses are reasons given when the customer doesn’t want to talk to the sales person or make a decision (usually related to time) • Explain the importance of properly converting customer objections into selling points. • Since an objection is a reason not to buy, a salesperson must overcome objections to make a successful sale • Showing that the objection is actually a good reason to buy will often result in a sale

50. Objections • Describe reasons that salespeople should be prepared to answer objections. • Objections can occur anytime in a sales presentation, from the approach through the closing • Until the objection(s) are overcome, the customer probably won’t buy • Must customer can’t clear the objections themselves, so the salesperson must be prepared to help