After identifying the prospect the sales person qualifies the prospects on the basis of their financial ability, needs, taste and preferences. Sometimes prospects say one thing that appears to be an objection to the product but, in fact, they have another issue that is preventing them from agreeing to a purchase. In some cases, a sales lead can be qualified by the seller prior to making first contact. This is the first step of the personal selling process and involves developing a database of potential customers; names are sought from company sales records, trade shows, commercial databases, … iv. The approach is the next step in the process and it is also one of the most important. This stage also enables the salesmen to secure information about the customer satisfaction levels and helps them to approach the customers again. Overcoming the Objections 6. 7 Steps of the Selling Process Starts from Here Selling Process Step # 1. There are several stages involved in the process and a salesman has to understand all the stages in the process to make the process more effective. In such method, the salesman should keep in mind these guidelines; (a) He should not be offensive, rather he should smile; (b) The retail sales clerk should not attempt this method because he is seldom in a position to keep the customers; (c) The type of customer must be kept in mind so that his feelings may not be hurt; (d) It should not be used if the objection has any ‘ego’ involvement in it. You would be concerned with a sales process if you play the following roles in a business, non-profit, or government organization: Salesperson: You are responsible for selling a product, a service, or an idea to another human-being, in a series of live-action selling … Thus, the close is the most important part of the selling process since all the efforts and presentation comes down to this moment. Your sales process is the set of steps your sales team follows when moving a customer along the sales funnel. The main advantages of making appointments is that it gives the salesperson additional time to prepare for the meeting and also, in the course of discussing an appointment, the salesperson may have the opportunity to gain more information from the prospect. In fact, for salespeople whose chief role is that of order getter, there is virtually no chance of being successful unless they can consistently generate sales leads. Effective prospecting requires a … Educate them in order to figure out if they are valid customers There are two main approaches to arranging contact: A challenging way to contact a prospect is to attempt to conduct a sales meeting through a straight cold call. Generally, the following process is utilised in selling a product: Prospecting consists in developing a list of potential customers. vi. D. have the salesperson … iii. c. What products are currently being purchased? More likely, sellers will not be in a position to qualify leads until they establish contact with a lead, which may occur in activities associated with either Preparation for the Sales Call or The Sales Meeting. It begins before you make contact with a prospect and often continues long after the sale is finalized. No one method is used by the two salesmen. For instance, salespeople may receive a list of sales leads based on inquiries through the company’s website. The success of this stage establishes goodwill for the manufacturer. At this stage of the selling process the salesperson will spend a considerable amount of time presenting the product. Luke Arthur has been writing professionally since 2004 on a number of different subjects. The main goal of the first step in the personal-selling process is to A. identify a firm's key decision makers. The salesman should ensure that the delivery instructions given by the customer are properly followed. At this stage of the process, you may need to negotiate the final sales price and any payment terms. The salesperson gives a summary of the major points of the presentation and directly asks for the order. Objection Close – If an objection is the major hurdle in the way of making sales, the salesperson should try to gain a commitment from the buyer that if the objection is removed he will buy the product. The more information about a prospect that a salesman has, the better able he is to develop an approach and presentation that precisely communicates with the prospect. Canvassing – Here leads are gathered by cold-calling (i.e., contacting someone without pre-notification) including in-person, by telephone or by email. The first of the seven steps in the sales process is prospecting. This stage is very important as the decision to buy or not is made by the prospective customers is greatly influenced by this stage. 1) prospecting and qualifying, 2) pre-approach, 3) approach, 4) presentation and demonstration, 5) NULL They admit to each other that they both are right, but there is the other side of the problem to consider also. Many customers have questions and concerns at this point of the sales process. This part of the process is a numbers game, and the sales representative has to contact many people. After presentation and demonstration, when customers are asked to place order, they are reluctant to buy and raise objection. After the objections have been removed, the only thing left to do is close the sale. During this stage, the sales representative looks at any information that he may have about the customer. Gaining this information can help prepare the salesperson for the sales presentation. Prospecting refers to locating potential customers. For instance, this can be done through the use of research reports, such as an evaluation of a company’s financial position using publicly available financial reporting services. Understanding these seven steps can help improve your individual sales or the sales of your company. Paid methods may include payment to others who direct leads that eventually turn into customers including using internet affiliate programs (i.e., paid for website referrals). TERM Summer '16; TAGS Marketing, Monopoly, Sales… In most cases, the resistance is expressed verbally (e.g., “I don’t see how this can help us.”) but other times the resistance presents itself in a non-verbal fashion (e.g., prospect facial expression shows puzzlement). A potential customer or “prospect” is first identified as sales lead, which simply means the salesperson has obtained information to suggest that someone exhibits key characteristics that lend them to being a prospect. After a sale, salespeople should work hard to insure the customer is satisfied with the purchase and determine what other ways the salesperson can help the customer to be even more satisfied with the purchase. iii. After developing the prospect list, a salesman evaluates each prospect to determine whether the prospect is able, willing, and authorized to buy the product. The salesmen have to give a patient hearing to the complaints and grouses of the customers and solve all the doubts. Making the Presentation 5. What type of approach would be suitable depends upon the salesman’s preferences, the product being sold, the firm’s resources, and the characteristics of the prospect. By resistance we are referring to a concern a prospect has regarding the product (or company) and how it will work for their situation. TOS4. v. Data Mining – This technique uses sophisticated software to evaluate information (e.g., in a corporate database) previously gathered by a company in hope of locating prospects. Gift Close – The salesperson may provide an added incentive on immediate purchase. Share Your PPT File. Personal selling or salesmanship itself is a process. A salesman should try to close at several points during the presentation, because the prospect may be ready to buy. All prospects identified may not turn out to be actual customers. Question 38 of 40 2.5/ 2.5 Points The first step in the personal selling process is: Previous Next. Each step of the process has sales-related issues, … Customers give importance to well-established brands, show apathy, impatience, reluctance to participate in the talk etc. The entire object of any prospecting must be to find sales leads that can eventually be translated into sales turnover. v. May Not Meet Requirements to Purchase – Prospects may not meet the requirements for purchasing the product (e.g., lack other products needed for seller’s product to work properly). For a creative and persuasive salesman, the process of selling really starts when the prospect raises objections. Because it is an indication the prospect is paying attention to the presentation and may even have an interest in the product if the resistance can be effectively addressed. One type of approach is based on referrals; the salesman approaches the prospects and explains that an acquaintance as associate or a relative has suggested the call. This phase usually involves some small talk to warm up the prospect and help them open up. The salesman may employ a “trial close” by asking questions that assume the prospect will buy the product, e.g. Marketers tap different sources to identify the prospective customers. The salesman, while using any of these methods of handing objections, must be sure that he is applying the right method in such particular situation. There are several stages involved in the process and a salesman has to understand all the stages in the process to make the process more effective:-. Prospecting; It is quite a common observation in our daily life that you can’t benefit a person from a product if he doesn’t need it. “He who wins the last battle wins the war” is truly applicable to a salesman foreclosing in the test, of every salesman. This is to … C. find qualified prospects. Cannot be Contacted – Some prospects may fit the criteria for being a prospect but gaining time to meet with them may be very difficult (e.g., high-level executives). Before publishing your Articles on this site, please read the following pages: 1. Presenting the Product – The salesperson will stimulate a prospect’s interest by discussing a product’s features and benefits in a way that is tailored to the needs of the customer. The heart of the selling process is the meeting that takes place between the prospect and the salesperson. By maintaining contact after the sale the seller is in a position to become more accepted by the customer who invariably leads to the salesperson learning more about the customer and the customer’s business. Why? It is a method of compromise because both salesman and prospects “bend” a little. The following are the two major activities under prospecting − 1. For every … He should properly greet the buyer and give a good start to the conversation. Customer may raise objection with regard to price, delivery schedule; product or company characteristics, etc. Direct Close – It is a simple technique and is most appropriate if the buyer is showing strong positive buying motives. The selling cycle breaks down neatly into six steps. v. Alternative Close – This technique provides the customers with alternatives with regard to the product like a black or red colour one or payment in cash or on credit basis. The salesperson may make a personal visit, a phone call or send a letter, based on the convenience of the prospects. Building a sales process is absolutely necessary to your company’s success, and is perhaps the most important thing you can do as a sales … Want to read all 13 pages? This can involve writing up an invoice and providing any final information to the customer. This step entails making a favorable impression with the prospect, gaining the pros- pect’s … In many ways arranging for contact is as much as selling effort as selling a product. The 5-step sales process and Lucidchart. Marketers search for prospects in directories, websites and contact through mail and telephone. Show transcribed image … The selling process is a set of activities undertaken to successfully obtain an order and begin building long-term customer relations. iv. Certain products cannot be sold without demonstration. If a prospect has been qualified or if qualifying cannot take place until additional information is obtained (e.g., when first talking to the prospect), a salesperson’s next task is to prepare for an eventual sales call. The salesman cannot call on any buyer at random for different types of goods. For salespeople actively involved in generating leads, they are continually on the lookout for potential new business. The close of the sale depends upon the conditions, personality for the parties and the nature of the goods. Everything you need to know about process of personal selling. At this stage the salesperson should properly approach the prospects. At this stage the salesperson needs to decide as to how to approach the prospective customer. For this purpose, the salesmen should overcome all the objections. Not all sales leads hold the potential for becoming sales prospects. This stage involves collecting information about the prospective buyers who have been identified in the previous stage. After a sale is closed, it should be properly followed. Approaching the Consumer 3. This can be done by cold calling or by going out into the market and talking to people. This method is useful in meeting excuses that are not strongly backed by facts. And that’ what, this first step towards a winning personal selling … Compensation method, which merely acknowledges the validity of an objection, but points out some advantage that is supposed to compensate for the objection, such as lower price, or special care of the product. Customer to get them resolved which can not be key decision makers to demonstrate and also with selling situations starts. 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