Mythbusters: How major sales are really made?

Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 1: Selling is selling A good salesperson can sell anything

It is true that selling skills developed in one industry can be applied in another but skills developed in small sales may hurt salesmen in major account selling. Small sales, the seller does most of the talking feature dump often works whereas in large sales, customers do most of the talking --- salesperson tend to use pattern of questions that allows customer to talk while at the same time moving the call towards the desired conclusion.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

 Across 23 countries it is found that questioning model was found to be the most significant behavioural factor winning the business in major account sales.

Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 2: To get more orders , make more calls

Ex: In a division that sold low cost electronic equipment, there was a positive correlation between more activity and more sales. In the high end division, there was negative correlation between number of calls and the number of sales. The key to success is to make good sales calls and good calls require preparation and strategy.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 3: Always call high

Successful salesperson were not calling at higher levels than their less successful colleagues. Ex: United stated senator son who was hired for a sales position by fortune 500 company had not trouble in making appointments. Instead of taking orders, he was simply asked to give my regards to your father. Conclusion : First, understand your customer problems. Then you will be able to build a case that you or someone on the inside can take higher.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 4: Use plenty of open question: They are more powerful than close questions

Survey revealed that there was no measurable relationship between the use of open questions and success 60% of closed questions receive an answer that is longer than one word. And about 10% of all open questions get a closed answer. Ex: What can u tell me about your business plans bored customer may answer nothing. Conclusion: Important thing is to ask skillful questions that move the call forward. The question should focus on issues that are important to the customer.

Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 5: Close early and close often

Top performers dont ask for the order. 3 steps in bringing a call to successful conclusion 1) Check for other concerns of customers issues that have not yet been addressed. 2) Summarize or re-emphasize the key points. 3) Propose an action that advances the sale Ex: To get a meeting with your boss to go over these benefits.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 6 You never get a second chance to make a first impression

The first 60 seconds make or break the sale. But research shows that there is no correlation between openings and success. Note: Buyer will overlook a poor first impression if they think a seller can solve a problem for them.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

A sales call has 4 stages

a) Opening b) Investigating (uncovering customer needs) c) Demonstrating (showing you can meet those needs) d) Obtaining commitment (getting the advance) Open skillfully: 1) Establish a reason for discussion. 2) Obtain permission for the seller to ask question.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 7: Salespeople are born, not made

Is there one particular personality type that is best suited for the sales role? Companies that actively sought extroverts for sales position now understand that a broad range of personalities can learn selling skills and function effectively in sales roles. From customers perspective they want someone they can trust. Customers cant see sincerity, integrity. They see actions, but they are looking out for someone who can demonstrate the capability to deliver the right solutions.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 8: Welcome objections They are a sure sign of buyer interest

Successful salespeople prevent objections Objections shouldnt be feared Ex: Our machine is the fastest one in the market, buyer replies, But speed is not a factor for us Skillful seller would employ the questioning model How important is speed for you. Then learning that speed is not important, he should avoid steering the conversation
Dr. Chandan A. Chavadi, Presidency College, Bangalore

 Sales consultant agree that objections diminish with experience. The objections that cannot be prevented best way to handle them is to be frank , acknowledge your weakness and then concentrate on your competitive strengths.

Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 9: Never attack the competition

Research shows that top performing salespeople do talk about the competition.. If the customer wants them to. Shift discussions from competitor weakness to your strengths. Ex: Tell me about slow machine company yes our machine is 40% faster than theirs. Ex: If you are representing a small firm that is competing for a piece of business with one of the largest companies in the industry salesperson should respond that Giant company is too big to give you personal service.
Dr. Chandan A. Chavadi, Presidency College, Bangalore

Myth 10: Give the most attention to your biggest accounts

Your largest account may turn out to be a pain in the neck. Mid sized account occupy a space where the competition is not so intense and where higher margins are possible and therefore offer greater potential for profitable business. Rule of thumb: Dont confuse large accounts with profitable accounts.

Dr. Chandan A. Chavadi, Presidency College, Bangalore