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Executive Summary:
This report has been designed to provide practical advice for converting
to a consultative selling approach.
Competitive Positioning 3
Product Knowledge 4
Business Communications 5
Active Listening 7
Objection Handling 8
Closing Techniques 13
Conclusion 13
Competitive Positioning
Product Knowledge
While it’s true that deep knowledge of all products/services comes with
time and effort, there are methods for quickly understanding the key
features, advantages, and benefits of your solution.
Use our Feature, Advantage, Benefit Tool to quickly map out the
most salient points for your product/service offering.
Every organization has key accounts that are responsible for large
amounts of revenue or have a large growth potential.
Business Communications
All businesses need customers who are confident that they made the
right decision to buy. In many cases, prospects feel that they bought
under pressure, and invariably end up canceling their order.
At its core, SPIN selling is all about converting implicit needs into explicit
needs. Implicit needs are statements of problems, dissatisfactions, and
difficulties. Explicit needs are specific customer wants and desires.
Once your funnel starts to fill up, use an Opportunity Pipeline Tool to
report expected revenues, and document where accounts are in the
sales cycle.
Objection Handling
“When selling you never get what you deserve, you get what you
negotiate for.”
Negotiation is based on the premise that both sides will win and
commence a long-term business relationship.
Negotiating Strategy
Skilled negotiators do not start by making their best offer. Instead, they
test the other side by various tactics. During this exchange, each side
takes an initial stance.
When the buyer takes their initial stance, the sales negotiator should
take their own initial stance at a point equidistant from the sales fallback
position.
Background
Discuss the history of the deal and let the other party respond with their
perspective. Do not state issues in such a manner that the other party
will react and start to argue.
Defining Issues
Agree on the items that are in scope for the negotiation. Do not discuss
any points until all issues have been identified. If the other party
surprises you with an unexpected issue, remain calm. Question, makes
notes, but remain neutral at this stage.
Once all issues have been defined, create an agenda. The order of the
agenda should be well prepared. The following considerations will
provide a guide:
Fallback
Settlement
Closing Techniques
Most organizations feel that they need to have better “closers.” Although
closing is an essential part of the sales process, research has
demonstrated that effectively developing implicit needs to explicit needs
exponentially increases close rates.
Generally speaking, closing should be used to affirm that value has been
shown. The classic line “always be closing” makes sense if you consider
that effective salespeople trial close after each and every feature they
present.
In many cases, a successful sales call will involve 5-7 trial/final closes.
A trial close is a stepping-stone to the final close, and usually confirms
that the prospect sees value in a particular aspect of the solution. For
example, a trial close might be: “do you see how this part of our product
can save you time?”
Conclusion
The manner in which organizations buy and sell products has steadily
evolved over the past 50 years. The old huckster approach of .boy have
I got a deal for you. will simply no longer work for today’s sophisticated,
and informed, consumers.
Use the tools provided in this report to create a custom Sales Training
Manual for your organization.