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Fundamentals of Selling

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Title: Fundamentals of Selling


1
(No Transcript)
2
The Psychology of Selling Why People Buy
3
Chapter
3
3
Chapter
4
Main Topics
3
Chapter
  • The Tree of Business Life Benefits
  • Why People BuyThe Black Box Approach
  • Psychological Influences on Buying
  • A FABulous Approach to Buyer Need Satisfaction
  • How to Determine Important Buying Needsa Key to
    Success

5
Main Topics
3
Chapter
  • The Trial Closea Great Way to Uncover Needs and
    SELL
  • SELL Sequence
  • Your Buyers Perception
  • Perceptions, Attitudes, and Beliefs
  • The Buyers Personality Should Be Considered
  • Adaptive Selling Based on Buyers Style

6
Main Topics
3
Chapter
  • You Can Classify Buying Situations
  • Technology Provides Information
  • View Buyers as Decision Makers
  • Satisfied Customers Are Easier to Sell to
  • To Buy or Not To Buya Choice Decision

7
The Tree of Business Life Benefits
T
  • Guided by The Golden Rule, emphasize benefits to
    improve your
  • Communication Skills
  • Ability to unselfishly help a person make the
    correct buying decision

T
T
Service
Ethical
T
T
T
T
T
T
T
T
Builds
T r u e
Relationships
T
C
I
8
Exhibit 3-1 Stimulus-Response Model of Buyer
Behavior
  • Internalization process is referred to as a
    black box
  • We cannot see into the buyers mind
  • Stimulus-response model

9
Whats Known About Mental Process
  • People buy for practical and emotional reasons
  • Some of a persons thoughts can be determined
  • Buyers consider certain factors in making
    purchase decisions

10
Psychological Influences on Buying
  • Motivation to buy must be there
  • Needs result from a lack of something desirable
  • Wants are needs learned by the person
  • Economic needs The best value for the money
  • The buyers need to purchase the most satisfying
    product for the money

11
Psychological Influences on Buying, cont…
  • Awareness of needs Some buyers are unsure
  • Conscious need level
  • Preconscious need level
  • Unconscious need level

12
A FABulous Approach to Buyer Need Satisfaction
  • Stressing benefits is a very powerful selling
    technique
  • FAB selling technique helps emphasize benefit

eature
dvantage
enefit
13
The Products Features So What?
  • Feature a physical characteristic
  • Many salespeople emphasize features
  • Examples
  • Size
  • Color
  • Price
  • Shape

14
The Products Advantages Prove It!
  • Advantage a performance characteristic
  • The chances of making a sale are increased by
    describing the products advantages
  • How a product can be used
  • How a product will help the buyer
  • Examples
  • Fastest-selling
  • Stores more information
  • Copies on both sides of the paper

15
The Products Benefits Whats in it for Me?
  • Benefit a result of advantage
  • People are interested in what the product will do
    for them
  • Benefits can be both practical and psychological
  • Benefits should be specific statements, not
    generalizations
  • Emphasizing benefits increases sales

16
Why Does Someone Buy These Items?
  • Diamond ring
  • Camera film
  • STP motor oil
  • Baseball tickets

17
People Buy the Products Benefits, Such as
  • Diamond ring images of success, investment, to
    please a loved one
  • Camera film memories of places, friends, and
    family
  • STP motor oil engine protection, car
    investment, or peace of mind
  • Baseball tickets entertainment, escape from
    reality, or relaxation

18
People Buy Benefits
  • Not a products features
  • Not a products advantages

19
People Buy Benefits, cont…
  • Notice national television commercials
  • They stress benefits
  • Advertisers know this helps sell products

20
People Buy Benefits, cont…
  • High performing salespeople stress benefits
  • They know this increases their chances of making
    the sale and helping someone

21
Whats In It For Me?
  • Stressing benefits in the sales presentation
    answers the prospects question, Whats in it
    for me?

22
Cannot Leave Out Features and Advantages
  • In the sales presentation it is also important to
    mention features and advantages
  • Following is an example of how to stress a
    benefit while including a feature and an advantage

23
Lets Review FABs
  • With this ball, youll get an extra 10 to 20
    yards on your drives ( ) helping
    to reduce your score ( ) because of
    its new solid core ( ).

advantage
benefit
feature
24
FABs Can Be Awkward at First
  • New salespeople are frequently not accustomed to
    using feature, advantage, and benefit phrases
  • They may seem awkward at first

25
Use Your FABs
  • Feature Physical Characteristic
  • Buyer thinks So What?
  • Advantage Performance Characteristic
  • Buyer thinks Prove It!
  • Benefit Favorable result from advantage
  • Benefits are what people buy!
  • You can also have a benefit of a benefit a FABB

26
Use the FAB Sequence
  • The standardized FAB Sequence can be used as
    follows
  • The…(feature)…means you…(advantage)…with the real
    benefit to you being…(benefit)….
  • Note how a benefit is emphasized
  • Pick a product and insert a FAB of the product
    into the above sequence
  • Put it in your own words
  • Try it it works!

27
Lets Review FABs, cont…
  • Which of the following is a feature, advantage,
    or benefit?
  • 1.
  • 2.
  • 3.
  • 4.
  • 5.

F
B
F
A
B
28
Lets Review FABs
advantage
  • Blade changing is quick ( ) and
    easy ( ) with this saw because it has
    a push button blade release ( )

benefit
feature
29
Lets Review FABs, cont…
feature
  • The king size ( ) will bring you
    additional profits ( ) because it is
    the fastest growing ( ) and a
    more economical size ( )

benefit
advantage
feature
30
Lets Review FABs, cont…
advantage
  • For long wear ( ) and savings
    on your clothing costs ( ), you cant
    beat these slacks. All the seams are double
    stitched ( ) and the material is 100
    Dacron ( ).

benefit
feature
feature
31
The Salesperson Needs to be a Detective
  • Given that people make a buying decision based
    on whether they believe a products benefits will
    satisfy their needs, how can you uncover a
    buyers needs?

32
Exhibit 3-4 Match Buyers Needs to Products
Benefits and Emphasize Them in the Sales
Presentation
33
How to Determine Important Buying NeedsA Key to
Success
  • L-O-C-A-T-E

isten
bserve
ombine
sk questions
alk to others
mpathize
34
The Trial Closea Great Way to Uncover Needs and
Sell
  • The trial close asks for an opinion, not a
    decision to buy
  • It gives feedback
  • The trial close is one of the best communication
    techniques in the sales presentation

35
The Trial Close Helps You to Determine
  • Whether the prospect likes your products
    features, advantages, or benefits
  • Whether you have successfully answered any
    objections
  • Whether any objections remain
  • Whether the prospect is ready for you to close
    the sale

36
In These Examples of Trial Closes, Notice They Do
NOT Ask Someone to Buy Directly
  • How does that sound to you?
  • Is this important to you?
  • Thats great isnt it?
  • I notice your smile. What do you think about…?

37
Do You See How the Trial Close Asks for the
Persons Opinion Concerning What Has Just Been
Said?
  • For example
  • Does that answer your concern?
  • Am I on the right track with this proposal?

38
The Trial Close Does Not Ask for a Decision
  • It asks a question to better understand what the
    person is thinking about what is being said by
    the salesperson you

39
To Help You Properly Use the FAB Selling
Technique and the Trial Close
  • Incorporate the SELL Sequence into your
    presentation

40
SELL Sequence
  • SELL Sequence
  • S

- physical characteristic
- Show Feature
- Explain advantage
  • E

- performance characteristic
- Lead into benefit
  • L

- result of advantage
- Let customer talk
- ask opinion question
  • L

41
Exhibit 3-5 The SELL Sequence Use It Throughout
Your Presentation
S
E
L
L
Show feature
Explain advantage
Lead into benefit
Let customer talk
42
Lets Review FABs, cont…
  • This equipment is made of stainless steel (
    ), which means it wont rust (
    ). The real benefit is that it reduces your
    replacement costs, thus saving you money (
    )! Thats what youre interested in right (
    )?

feature
advantage
benefit
trial close
Skip video
Video Help
43
(No Transcript)
44
The Trial Close Is a Powerful Communication
Technique To Produce
  • Two-way communication
  • Participation from the other person

45
A Challenge! Use the Trial Close in Your Normal
Conversation To
  • See if it helps your communication
  • See if it gets the other person to participate in
    the conversation
  • All you do is occasionally ask the person an
    opinion type question such as
  • Is that a good place to eat?
  • What did you think about the movie?
  • How does that sound to you?

46
Lets Review! When Are the Times to Use a Trial
Close?
  • 1. After making a strong selling point in the
    presentation (FABs)
  • 2. After the presentation but before the close
  • 3. After answering an objection
  • 4. Immediately before you move to close the sale

47
Lets Review! What Does the Trial Close Allow You
to Determine?
  • 1. Whether the prospect likes your products FAB
    the strong selling point
  • 2. Whether you have successfully answered the
    objection
  • 3. Whether any objections remain
  • 4. Whether the prospect is ready for you to close
    the sale

48
It Helps to Construct Four Columns when Creating
Your SELL Sequence, Exhibit 3-6
Features (physical characteristics)
Advantages (performance characteristics)
Benefits (result from advantage)
Trial Closes (feedback questions)
  • Nationally advertised consumer product
  • Air conditioner with a high energy-efficiency
    rating
  • Product made of stainless steel
  • Supermarket computer system with IBM 3651 Store
    Controller
  • Five percent interest on money in bank checking
    NOW account
  • Golf club head made of aerodynamically designed
    titanium steel
  • Will sell more product
  • Uses less electricity
  • Will not rust
  • Can store more information and retrieve it
    rapidly by supervising up to 24 grocery check-out
    scanners and terminals and look up prices on up
    to 22,000 items
  • Earns interest that would not normally be
    received
  • Increased club head speed, longer drives
  • Will make you a high profit
  • Saves 10 percent in energy costs
  • Reduces your replacement costs
  • Provides greater accuracy, register balancing,
    store ordering, and inventory management
  • Gives you one extra bag of groceries each month
  • Lower scores
  • What do you think?
  • Is that important to you?
  • How does that sound to you?
  • Thats greatisnt it?
  • Do you want to earn extra money?
  • And thats what countsright?

49
Your Buyers Perception
  • Perception how selects, organizes, interprets
    information
  • Selective exposure only portion of information
    used
  • Selective distortion perceptual process may
    alter information
  • Selective retention may remember only what
    supports their attitudes and beliefs

50
Perceptions, Attitudes, and Beliefs
  • Perceptions are learned
  • Learning knowledge based on past
  • Attitude learned predispositions
  • Belief trust or confidence placed in
    something/someone

51
The Buyers Personality Should Be Considered
  • Personality can be viewed as the individuals
    distinguishing character traits, attitudes, or
    habits
  • Self-concept
  • Real self
  • Self-image
  • Ideal self
  • Looking-glass self

52
Adaptive Selling Based on Buyers Style
  • Personality typing
  • Adapt your presentation to the buyers style
  • T
  • I
  • F
  • S

hinker style
ntuitor style
eeler style
ensor style
53
Exhibit 3-8 Guidelines to Identifying
Personality Style
54
Exhibit 3-9 Watch for Clues to Someones
Personality Type
  • How would you describe this person?
  • What is her time orientation past, present,
    future?
  • What does her desk look like?
  • What does her room look like?
  • How does she dress?

55
Determining Style Can Be Difficult
  • What is the persons primary style?
  • What is the persons secondary style?
  • Does the persons style comprise all four types?

56
First Know Your Style
  • This helps you to adapt to the other persons
    style
  • Which leads to better communication
  • Knowing your style helps you identify a persons
    style, especially if your styles are the same (It
    takes one to know one)

57
You Can Classify Buying Situations
  • Some decisions are routine
  • Some decisions are limited
  • Some decisions are extensive

58
Exhibit 3-10 The Three Classes of Buying
Situations
59
Technology Provides Information
  • Technology provides information for customer
    decision making and service

60
View Buyers as Decision-Makers
  • Five basic steps in the buying decision
  • Need arousal
  • Collection of information
  • Information evaluation
  • Purchase decision
  • Postpurchase
  • Satisfaction
  • Dissonance

61
Exhibit 3-12 Personal, Psychological, and Social
Forces that Influence Consumers Buying Behavior
Consumer buying decision process
62
Satisfied Customers Are Easier to Sell To
  • It is easier to sell to a customer than to a
    stranger
  • Building a relationship is important to a
    salespersons success

63
To Buy or Not to Buya Choice Decision
  • A salesperson needs to understand
  • Factors that can influence the buying decision
  • That buyers actually examine various factors that
    influence these decisions
  • That buyers actually go through various steps in
    making decisions

64
Summary of Major Selling Issues
  • As a salesperson, be knowledgeable
  • Understand the characteristics of the target
    market and how these characteristics relate to
    the buyers behavior
  • The individual goes through various steps in the
    three buying situations of routine decision
    making, limited decision making, and extensive
    decision making
  • Uncover who is involved in the buying decision
    and the main factors that influence the decision

65
Summary of Major Selling Issues, cont…
  • Psychological factors include the buyers
    motives, perceptions, learning, attitudes,
    beliefs, and personality
  • Not all prospects will buy your products due to
    the many factors influencing their buying
    decision
  • Need to uncover buyers needs, solve buyers
    problems, and provide the knowledge that allows
    them to develop personal attitudes toward the
    product

66
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