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Sales Presentation - Kevin Nott

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Sales Presentation - Kevin Nott

  1. 1. Sales Mastery Closing More Sales at a Profitable Price
  2. 2. Profit Point
  3. 3. Sales and Profit Point <ul><li>Increase number of sales relative to the number of opportunities (Closing Rate) </li></ul><ul><li>Increase the selling price of each sale (Average Sales Price) </li></ul>
  4. 4. Workshop Objectives <ul><li>Understand the sales process </li></ul><ul><li>Learn how to increase perceived value </li></ul><ul><li>Learn how to identify customer needs </li></ul><ul><li>Learn how to effectively present solutions </li></ul><ul><li>Learn how to gain commitment for a favorable exchange </li></ul>
  5. 5. Things You NEED to Know that are not Covered in this Workshop <ul><li>Your Profit Point </li></ul><ul><li>How to set the right sales price </li></ul><ul><li>Your target market </li></ul><ul><li>Your customers' psychographics (Why they buy) </li></ul><ul><li>How to generate opportunities </li></ul>
  6. 6. What is Selling? <ul><li>Selling is a process that links problems to solutions </li></ul><ul><li>It is the favorable exchange of goods, services and ideas </li></ul>
  7. 7. What you need to know about Selling <ul><li>Why people buy </li></ul><ul><li>Your product's benefit </li></ul><ul><li>You and your company </li></ul><ul><li>How your product meets a customer's needs </li></ul><ul><li>How to logically and effectively present ideas </li></ul><ul><li>How to encourage a customer to make a decision </li></ul>
  8. 8. Getting a customer to buy <ul><li>Purchase decision is made when price is less than or equal to perceived value </li></ul><ul><li>Value is established by the customer </li></ul><ul><ul><li>Based on how customer believes product will meet or exceed customer needs </li></ul></ul><ul><ul><li>Is influenced by seller's belief in the product </li></ul></ul><ul><li>Move customer to buying decision by </li></ul><ul><ul><li>Lowering price </li></ul></ul><ul><ul><li>Increasing perceived value </li></ul></ul>
  9. 9. Defining Needs <ul><li>Implicit Needs </li></ul><ul><ul><li>Assumed </li></ul></ul><ul><ul><li>Generally accepted </li></ul></ul><ul><ul><li>Based on our perspective </li></ul></ul><ul><li>Explicit Needs </li></ul><ul><ul><li>Stated </li></ul></ul><ul><ul><li>Definable </li></ul></ul><ul><ul><li>Based on customer perspective </li></ul></ul>
  10. 10. Know Your Product <ul><li>Features </li></ul><ul><li>Advantages </li></ul><ul><li>Benefits </li></ul>
  11. 11. Features <ul><li>Facts or characteristics of a product, service or company </li></ul><ul><ul><li>It is made of stainless steel </li></ul></ul><ul><ul><li>We have been in business for 20 years </li></ul></ul>
  12. 12. Advantages <ul><li>How the feature can be used to benefit a buyer and meet implicit needs </li></ul><ul><ul><li>It will last for many years </li></ul></ul><ul><ul><li>We will be around if you have any needs </li></ul></ul>
  13. 13. Benefits <ul><li>How the feature meets an EXPLICIT need expressed by the buyer </li></ul><ul><ul><li>You said you wanted it to last a long time. Stainless steel will provide you the best longevity </li></ul></ul><ul><ul><li>You indicated that you wanted a company that would be around to help with future needs </li></ul></ul>
  14. 14. Know YOUR Product <ul><li>Features </li></ul>Advantages Benefits Select a core product or service you provide and list
  15. 15. Homework <ul><li>Identify all the products and services you can competently provide </li></ul><ul><li>List all the features </li></ul><ul><li>List all the advantages </li></ul>
  16. 16. Talk to Teach <ul><li>Select a topic that you know a lot about </li></ul><ul><li>Tell your partner </li></ul><ul><ul><li>How and where it was learned? </li></ul></ul><ul><ul><li>Who taught it? </li></ul></ul><ul><ul><li>How long it took to learn? </li></ul></ul><ul><ul><li>What is liked best about it? </li></ul></ul><ul><ul><li>What is liked least about it.? </li></ul></ul><ul><ul><li>How has knowing this subject been beneficial? </li></ul></ul>
  17. 17. Listen to Learn <ul><li>Find a hobby or profession that your partner knows substantially more about than do you </li></ul><ul><li>Record the answers to the following questions: </li></ul><ul><ul><li>How and where it was learned? </li></ul></ul><ul><ul><li>Who taught it? </li></ul></ul><ul><ul><li>How long it took to learn? </li></ul></ul><ul><ul><li>What is liked best about it? </li></ul></ul><ul><ul><li>What is liked least about it.? </li></ul></ul><ul><ul><li>How has knowing this subject been beneficial? </li></ul></ul>
  18. 18. What did you learn? <ul><li>Write down everything you remember about the other persons subject </li></ul><ul><li>Compare the learning from both </li></ul><ul><li>Which is more effective? </li></ul>
  19. 19. Persuasion Selling <ul><li>You are the expert and do most of the talking </li></ul><ul><li>You have a product to sell </li></ul><ul><li>Your presentation focuses on features, functions and benefits or the product </li></ul><ul><li>Your job is to “convince” customers that they need and want the benefits of your product </li></ul>
  20. 20. Benefit Selling <ul><li>The customer is the expert and does most of the talking </li></ul><ul><li>The customer has a need (although it may not be known yet to the customer) </li></ul><ul><li>Your presentation focuses on asking pertinent questions to gain understanding of the specific and explicit needs </li></ul><ul><li>Your job is to listen to the customer so that you can provide a personalized solution to the customer’s explicit need </li></ul>
  21. 21. The Selling Process <ul><li>Setting an appointment </li></ul><ul><li>Running the Sales Call </li></ul><ul><li>Performing the work </li></ul><ul><li>Follow up contact </li></ul><ul><li>Referrals </li></ul>
  22. 22. Objectives of the Sales Call <ul><li>Obtain an order to perform work </li></ul><ul><li>Advance the relationship towards an order </li></ul>
  23. 23. Four Stages of a Sales Call <ul><li>Opening </li></ul><ul><li>Investigating </li></ul><ul><li>Demonstrating Capability </li></ul><ul><li>Obtaining Commitment </li></ul>
  24. 24. Opening <ul><li>Gain trust </li></ul><ul><li>Find common ground </li></ul><ul><li>Set and build expectations </li></ul>
  25. 25. Investigating <ul><li>Identify explicit wants and needs </li></ul><ul><li>Determine constraints </li></ul><ul><li>Identify areas where your product or service is compatible with needs </li></ul><ul><li>Create sufficient emotion around solutions </li></ul>
  26. 26. Demonstrate Capability <ul><li>Sell yourself </li></ul><ul><li>Establish credibility </li></ul><ul><li>Differentiate </li></ul><ul><li>Reinforce and build trust </li></ul><ul><li>Create additional expectations </li></ul>
  27. 27. Obtain Commitment <ul><li>Demonstrate how your solution matches customer's explicit needs </li></ul><ul><li>Overcome objections </li></ul><ul><li>Gain approval to proceed </li></ul>
  28. 28. Effective Investigation is the Key <ul><li>You can't have a solution without a problem </li></ul><ul><li>You can't know the problem unless you ask </li></ul><ul><li>You won't get to the explicit need unless you know HOW to ask </li></ul>
  29. 29. SPIN Selling <ul><li>S ituation Questions </li></ul><ul><li>P roblem Questions </li></ul><ul><li>I mplication Questions </li></ul><ul><li>N eed-Payoff Questions </li></ul>
  30. 30. Situation Questions <ul><li>Early in the selling cycle </li></ul><ul><li>Build rapport </li></ul><ul><li>Gather Information (background and facts) </li></ul><ul><li>Increase understanding </li></ul><ul><li>Identify potential problems </li></ul><ul><li>Use sparingly to avoid “interrogation” </li></ul><ul><li>Avoid potentially sensitive areas </li></ul><ul><li>Listen for customer problem cues </li></ul>
  31. 31. Sample Situation Questions <ul><li>How long do you plan to live here? </li></ul><ul><li>Why are you looking at building? </li></ul><ul><li>Where do you plan to build? </li></ul><ul><li>Have you used a builder before? </li></ul><ul><li>What is your budget? </li></ul><ul><li>Are you interested in financing options? </li></ul>
  32. 32. Problem Questions <ul><li>Probe for problems, difficulties or dissatisfaction with current situation </li></ul><ul><li>Reveal needs </li></ul><ul><li>Clarify intensity </li></ul><ul><li>Gain shared understanding </li></ul><ul><li>Don’t ask problem questions for which you have no solution! </li></ul>
  33. 33. Sample Problem Questions <ul><li>What challenges have you faced in choosing the right builder? </li></ul><ul><li>Why is your present situation unfavorable? </li></ul><ul><li>What do you view as your biggest obstacles in this project? </li></ul>
  34. 34. Implication Questions <ul><li>Identify consequences, effects or implications of situation </li></ul><ul><li>Focus on consequences </li></ul><ul><li>Personalize and emotionalize the consequences </li></ul><ul><li>Create reasonable anxiety surrounding the problem </li></ul>
  35. 35. Sample Implication Questions <ul><li>What do you see as a potential problem if your contractor does not pull a building permit? </li></ul><ul><li>What could be some challenges of working with an inexperienced contractor? </li></ul><ul><li>How could choosing a contractor based solely on price lead to long-term and permanent problems? </li></ul>
  36. 36. Need-Payoff Questions <ul><li>Asks about the value, importance or usefulness of a situation </li></ul><ul><li>Clarify explicit needs </li></ul><ul><li>Are emotion-driven </li></ul><ul><li>Elicit desire for a solution </li></ul><ul><li>Offer to remove anxiety </li></ul><ul><li>Withhold specific solution until making a formal proposal </li></ul>
  37. 37. Sample Need-Payoff Questions <ul><li>If we could get you into your new building before Spring, how would that help your summer sales? </li></ul><ul><li>How would you feel knowing your contractor had 20 years of experience? </li></ul><ul><li>Would you be interested in a solution that provided the extra space you need for expansion using your existing building lot? </li></ul>
  38. 38. Use SPIN to Match Your Partner to a New Work Vehicle
  39. 39. Use SPIN to Identify Explicit Needs in Your Partner's Business
  40. 40. Technical Investigation <ul><li>Blueprints </li></ul><ul><li>Walk through </li></ul><ul><li>Measurements </li></ul><ul><li>Customer involvement </li></ul><ul><li>Identify desired function and expectations </li></ul>
  41. 41. Demonstrate Capability <ul><li>Use a formal presentation process </li></ul><ul><li>Be consistent </li></ul><ul><li>Be professional </li></ul><ul><li>Focus on “hot buttons” </li></ul><ul><li>Don't cut corners </li></ul><ul><li>Trust the process </li></ul>
  42. 42. Choosing the Right Contractor is a Long-term Commitment <ul><li>Little concerns can become large over time </li></ul><ul><li>Quality issues </li></ul><ul><ul><li>Visible </li></ul></ul><ul><ul><li>Hidden </li></ul></ul><ul><li>Safety issues </li></ul><ul><li>Support issues </li></ul>
  43. 43. What Should You Look For? <ul><li>Contractors </li></ul><ul><li>Appearance </li></ul><ul><li>Character </li></ul><ul><li>Licensed </li></ul><ul><li>Insured </li></ul><ul><li>Bonded </li></ul><ul><li>Permits </li></ul><ul><li>Experience </li></ul><ul><li>Workmanship </li></ul><ul><li>Reputation </li></ul><ul><li>Products used </li></ul><ul><li>Technique used </li></ul>
  44. 44. Company Overview <ul><li>____ years' experience </li></ul><ul><li>Training </li></ul><ul><li>Licensed </li></ul><ul><li>Insured </li></ul><ul><li>Permits </li></ul><ul><li>Availability </li></ul><ul><li>Appearance </li></ul>
  45. 45. We Pay Attention to Details
  46. 46. Quality Matters <ul><li>Processes </li></ul><ul><li>Materials </li></ul>
  47. 47. Quality Assurance Checklist
  48. 48. We Stand Behind our Work <ul><li>Our Work is Guaranteed </li></ul>
  49. 49. The Value Solution Our Company Our Products Our Workmanship Me
  50. 50. Obtaining Commitment <ul><li>Review the investigation questions and responses </li></ul><ul><li>Present your solution in an item by item approach (Because you said...) </li></ul><ul><li>Explain the benefits they will get </li></ul><ul><li>Ask: </li></ul><ul><ul><li>Is this what you are looking for? </li></ul></ul><ul><ul><li>Can you see how this gives you all the benefits you said you wanted? </li></ul></ul>
  51. 51. Presenting the Price <ul><li>We can have your project completed to your specifications for $_____________ or $ ____ per month. </li></ul><ul><li>Will (___ date___ ) be a good time for us to start? </li></ul>
  52. 52. Overcoming Objections <ul><li>Price too high </li></ul><ul><li>Need another bid </li></ul><ul><li>Can't afford it </li></ul><ul><li>We need to think about it </li></ul><ul><li>We are just getting a budget </li></ul>
  53. 53. The Three D's <ul><li>Deflate </li></ul><ul><ul><li>Show compassion and understanding </li></ul></ul><ul><li>Define </li></ul><ul><ul><li>Clarify the concern </li></ul></ul><ul><li>Delete </li></ul><ul><ul><li>Use the tools to address the specific concerns </li></ul></ul>
  54. 54. Deflate <ul><li>I understand how you feel </li></ul><ul><li>I can see why that might be a concern </li></ul><ul><li>I can appreciate that </li></ul>
  55. 55. Define <ul><li>Can you share your concerns with me? </li></ul>
  56. 56. Delete <ul><li>Price Too High </li></ul><ul><li>The Value Solution </li></ul><ul><li>Customer Need Evaluation </li></ul><ul><li>Need Another Bid </li></ul><ul><li>The Value Solution </li></ul><ul><li>Customer Needs Evaluation </li></ul><ul><li>Can't Afford It </li></ul><ul><li>Customer Needs Evaluation </li></ul><ul><li>Financing Options </li></ul><ul><li>Need to Think About it </li></ul><ul><li>Breathing room </li></ul><ul><li>Customer Needs Evaluation </li></ul>
  57. 57. Sale Call Review <ul><li>Use presumptive sale language </li></ul><ul><li>Only propose products/services that are solutions to explicit needs </li></ul><ul><li>Propose product/services as a solution to a specific need expressed by the customer </li></ul><ul><li>Propose benefits, advantages and features in this order (remember that purchases are made on emotion and justified by facts) </li></ul>
  58. 58. The Contractor's Sales Call <ul><li>Introduction and Warm Up </li></ul><ul><li>Customer Needs Evaluation </li></ul><ul><li>Technical Analysis </li></ul><ul><li>Presentation </li></ul><ul><li>Needs-based Solution </li></ul><ul><li>Gain Commitment </li></ul>
  59. 59. Choosing the Right Contractor is a Long-term Commitment
  60. 60. What Should You Look For? <ul><li>Contractors </li></ul><ul><li>Workmanship </li></ul>
  61. 61. Company Overview <ul><li>____ years' experience </li></ul><ul><li>Training </li></ul><ul><li>Licensed </li></ul><ul><li>Insured </li></ul><ul><li>Permits </li></ul><ul><li>Availability </li></ul><ul><li>Appearance </li></ul>
  62. 62. We Pay Attention to Details
  63. 63. Quality Matters <ul><li>Processes </li></ul><ul><li>Materials </li></ul>
  64. 64. Quality Assurance Checklist
  65. 65. We Stand Behind our Work <ul><li>Our Work is Guaranteed </li></ul>
  66. 66. The Value Solution Our Company Our Products Our Workmanship Me