Sales Techniques

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					Sales Techniques
        Sales Techniques




Why improve sales techniques
Sales techniques to consider
               Sales Techniques


Why improve sales techniques?
 Increase conversion rate and give you a
  better chance of reaching sales targets
 It can generate higher revenue from client
 Shorten sales lifecycle and hence free up
  your resources to focus on other sales
  opportunities
 It can increase the quantity and quality of
  client base
               Sales Techniques


Understand why the customer buys a
product ?
 To satisfy a need
 What is that need?
 Understanding the need enables you to
  position your product to help them meet their
  need and obtain a desired result
                 Sales Techniques


Understand why the customer buys a
product ?
 The product: hotel
 The customers need: to relax and indulge, to get
  away from daily routine
 Translate your product features to meet that need
 Positioning the hotel as a place to unwind and forget
  about the world
 You are selling a space to chill out
                Sales Techniques


Navigate your clients organisation to access
the real decision makers
 Determine roles and responsibilities
   The planner
   The recommender
   The final decision maker
                 Sales Techniques


Navigate your clients organisation to access
the real decision makers
 Get to know the gatekeepers
 They can be your best ally or worst enemy
 Communicate from same level
  e.g. CEO to CEO
 Attend events where you will find key decision
  makers
 Go via industry peers / colleagues
               Sales Techniques


Qualify your sales opportunity

 This will shorten your sales cycle, improve
  conversion rate, improve average cost of sale
 Develop a scorecard to determine real
  potential
                        Sales Techniques


Better qualify your sales opportunity
Priority Scorecard
Criteria                    Proposed Event          Priority Ranking
Industry sector             Food technology                    5
Event size 300-1,000               200                         2
Time of year                      Peak                         2
Room nights > 800                 1,000                        4
Event profile                     High                         5
Score                                                     18/25


        High Priority score 20-25, Medium 10 – 19, Low 1 - 9
               Sales Techniques


Better qualify your sales opportunity

 How good is the match with your product
 Identify the conditions of “close-ability”
               Sales Techniques


Better identify and quantify a business need

 Quantify the „gap‟ between where the client is
  today and where they want to be in the future
 Is your product the solution to that gap?
                 Sales Techniques


Better qualify your sales opportunity

Is the gap too wide ?


           Customer                Product
                                 Specifications
          Specifications




                Customer / Product match
              Sales Techniques


Better qualify your sales opportunity

 Is the gap too wide ?
 If YES do you walk away from the business?
                 Sales Techniques


Develop a sales plan, strategy and
execution
 Vital to improve sales performance
 Avoids a scattergun approach
 Sales Procedures
   Identify all possible reactions from client
   Develop response and time frame
                 Sales Techniques


Earn the trust and build a strong business
relationship
 People buy from people they like and trust
 Maximise the opportunities to build one to one
  relationships with clients
 Be responsive and reliable
 Don‟t overstate your product capabilities
 Allow client to sample your product
 Obtain feedback and address issues promptly
              Sales Techniques


Create a vision that fulfils the clients needs
and show them how to get there
 Show them how to resolve a specific
  business problem
 Show them how you can make their vision
  come true
 Visualise the outcome
 Quantify the outcome
               Sales Techniques


Create a compelling value proposition and
ROI (return on investment)
 A value proposition is a clear statement of the
  tangible results a customer gets from using
  your products or services
                Sales Techniques


Validate the proposed solution

 Provide the client with evidence that the
  solution you provide will deliver the desired
  results
 Tangible evidence
    Case studies and testimonials
    Provide references
               Sales Techniques


Differentiate your product and neutralise the
competition
 Make your offer appealing, safe and
  watertight
 Address any known concerns
 Ask if there are any further concerns that
  need to be addressed
 Infer that competing offer may be adverse or
  risky
              Sales Techniques


Handle objections and manage the “risk
component” of your offer
 Deal with objections
 E.g. Concern that the new convention centre
  may not be built in time for the proposed
  convention.
                 Sales Techniques


Handle objections and manage the “risk
component” of your offer
Response:
 Construction is currently ahead of schedule
 Major financial penalties to construction company if
  they do not complete on time
 Any potential disruption or relocation costs will be
  paid for by construction company
 Previous record / evidence of construction record
 Plan B if centre is not completed on time
                   Sales Techniques


Negotiate

   Must be a win / win outcome
   What are you must haves
   What are the clients must haves
   Items that are not negotiable
   Create a margin to negotiate
   What are your like to haves
   What are your clients like to haves
   Trade on the like to haves
                 Sales Techniques


Trigger the close of the deal

 Identify a time bound trigger – deadline the
  client may need to meet
    Board meeting, Annual convention etc…
 Where there is no deadline then try and
  create one
    We have another client interested in these dates
    Our rates increase at the end of this month
                 Sales Techniques


In Summary

   Understand the customers needs
   Identify and target key decision makers
   Qualify your sales opportunity
   Identify the gap between client and product
   Develop a plan
   Earn the trust of the client
                Sales Techniques


In Summary

   Create a compelling value proposition
   Handle the objections and manage the risk
   Negotiate a win / win solution
   Trigger the response to close
Sales Techniques
Thank You

				
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posted:9/2/2011
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