Succeeding in a Challenging Environment

Transcription

1 Succeeding in a Challenging Environment Sales Strategies and Tactics Scott A. Inks, Ph.D. Director, H.H. Gregg Center for Professional Selling Associate Professor of Marketing Ball State University

2 Agenda Who I Am Key Changes Why Buyers Buy Sales Process (selected portions) Discussion

3 Who I Am...

4 Ball State Center for Professional Selling Create and Cultivate Professional Sales Talent Promote Sales Professionalism Conduct and disseminate relevant sales research

5 Mental Preparation Read Selling with a Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud by L. McLeod. Seek out satisfied customers Remind yourself of the value you provide. Never compromise your integrity or ethical standards Hang out with positive people. Don t underestimate the power of the daily affirmation.

6 Key Changes Salespeople must be comfortable working with social media and other digital marketing tools Salespeople need to be more analytical and business savvy Technology is driving Sales and Marketing integration Salespeople need to justify their existence in the channel

7 Decision to Buy Perceived Value Gain Perceived Risk Decision to Buy

8 Cash and Carry Conner He was buying my product by the 240 gallon pallet.

9 Full-Service Frank He was buying my product by the 240 gallon pallet. I wanted him to buying my product in bulk 15,000 gallons

10 Full-Service Frank Help me solve my business problems Cash and Carry Conner can charge $5.00 less per gallon because he has no overhead. Full-Service Frank $40.00 per gallon -$5.00 per gallon rebate (if custom applied) $35.00 per gallon to the grower. Cash and Carry Conner $35.00 per gallon to the grower.

11 What Salespeople Need to Do Know your customers business Look for business solutions Differentiate yourself Be valuable

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13 Trust The Most Critical Component to the Buyer-Seller Relationship Candor Expertise Dependability Customer Orientation Trust Compatibility

14 Sales Process Prospecting, Handling Resistance, and Closing

15 Prospecting Strategy 1. Set Objectives 2. Allocate Resources 3. Employ Multiple Methods (be creative) 4. Measure Results (ROI) 5. Make Adjustments

16 Prospecting Lead Generation Methods Referrals Manage with Care Networking (personal and digital) Marketing (promotions, contests, trade-shows) Content Marketing

17 Lead Generation Method - Musts 1. Engage the lead. 2. Assign the lead something to do as a result engagement. 3. Move the lead through the qualification process and assign priority.

18 Create Objectives for, and Track.... Resource Allocation (time and money) by Lead Gen Method Leads by Lead Gen Method Qualified Leads by Lead Gen Method

19 Create Objectives for, and Track.... Lifetime Value of Customer by Lead Gen Method ROI (in $ and $/hour) by Lead Gen Method

20 Comparing Lead Gen Methods Method 1 Method 2 Method 3 25% 20% 15% 10% 5% 0% Converted Qualified Leads Conv. Ratio

21 Referrals Believers in your personal brand are the best source Be candid when asking Define target prospect or identify prospects first, then ask for referral Provide reward for good referrals

22 Handling Objections 1. Anticipate Concerns 2. Develop Correction/Mitigation Strategy 3. Compile and Organize Aids 4. Practice (Role Play) 1. Listen (don t assume) 2. Clarify the Concern 3. Respond 4. Confirm Resolution If you re right about the prospect being a good fit, objections are simply a communication issues

23 Gaining Commitment First and Foremost - Add Value and Mitigate Risk Seek Prospect s Agreement with the Value Gain Simply Ask for the Order Carefully Address Remaining Concerns (if any) Establish and Communicate Next Steps Practice Asking (Role Play, Non-Sales Asks, etc.)

24 General Strategies for Improvement 1. Role Play (workshop) Specific Scenarios Ad hoc With prep Spontaneous 2. Observer Others 3. Study 4. Think Strategically The more I practice, the luckier I get. - Arnold Palmer

25 Every brand contact delivers an impression that can strengthen or weaken a customer s view of the brand and the company.

26 Questions and Discussion