Creating and Communicating Value Chapter 7 Creating and Communicating Value

General Guidelines for Effective Sales Presentations In sales presentations and demonstrations, salespeople can facilitate prospect involvement and the learning process by using 4 learning principles. Prospects remember new information better if they can connect it to their personal knowledge, past experiences, or frames of reference Prospects who participate in the sales presentation and demonstration retain more information and develop more favorable attitudes Insight Transfer Association Participation Learning Principles Insight Transfer Association Participation Learning Principles Product demonstrations should weave facts and figures from the sales presentation into the prospect’s own experience Prospects who see the product being used in situations similar to their own can better visualize its benefits

Solution Selling Solution selling is the stage at which the salesperson: Assumes a knowledgeable role Begins to earn the right to be an advisor to the prospect Customizes her presentation of product features and benefits to the prospect’s specific needs and wants

Buying Motives (these were mentioned in chapter 6) Should first identify: Major Buying Motives These are the prospect’s most important concerns and the salesperson should give them top priority. Minor Buying Motives These are peripheral concerns and the salesperson should discuss these only after addressing the major buying motives.

Importance of Communication Selling is a listen before you speak business Each communication must bring knowledge to the prospect Communications that focus on benefits and value are viewed as quality communications (remember the SPT) Salespeople are responsible for making information available to the members of the buying center

Asking the Right Questions Developing a list of questions will allow salespeople to target their benefits to customers’ needs Astute salespeople anticipate prospects’ concerns and prepare answers before meeting with prospects

Prospect Involvement When seeking to partner with prospects, effective salespeople attempt to involve the prospects. Listen carefully to align your suggestions with the prospect’s needs and wants Read all non-verbal communication It is important that Salespeople show a willingness to collaborate

Check-Backs and Response-Checks – very important! Closed-ended questions designed to clarify, check for understanding, confirm interest, or confirm resolution of a concern. Examples: Is that what you had in mind? Does this make sense to you so far? How does that sound to you? Does that answer your concern?

Video Analysis Look for the following: Prospect Involvement Impact of communication Verbal communication Non-verbal communication Implication questions (power of them) Check-back questions FAB technique Objection Handling

What Your Prospect Wants to Know What are you offering me? Exactly how does it work (product, service, process)? How will it help me? Is it as good as you say it is? Who else says so? What evidence can you offer that it is as good as you say? Is it worth the price? Why? Will it help me accomplish what I really want to accomplish? Sell the prospect results ( benefits, not features). Why?

Preparing and Presenting the Sales Proposal – Features v. Benefits FAB leads to SELLS F S —Features are the obvious characteristics of the product/service. —Advantages are the performance traits of the product that show how it can be used to help the customer better solve a problem than present products can. —Benefits are what the customer wants from the product. —Show the product’s features. —Explain its advantages. —Lead into the benefits for the prospect. —Let the prospect talk. —Start a trial close. E A L L B S

Reasons for Using Presentation Tools and Sales Aides Capture prospective buyer’s attention Generate interest in the recommended solution Make presentations more persuasive Increase the buyer’s participation and involvement Provide the opportunity for collaboration and two-way communication

Reasons for Using Presentation Tools and Sales Aides Add clarity and enhance the prospect’s understanding Provide supportive evidence and proof to enhance believability Augment the prospect’s retention of information Enhance the professional image of the salesperson and the selling organization

Sales Aids: Verbal Support Voice Characteristics Examples and Anecdotes Comparisons & Analogies

Sales Aids: Sales Call Setting Location Positioning & Seating Arrangements – Proxemics are an important consideration Disruptions

Sales Aids: Proof Providers “In January, Fortune magazine recognized CDW as the top rated technology vendor on the basis of services provided to the buying customer.” Statistics Testimonials Case Histories

Sales Aids: Visual Aids Product Demonstration & Models Printed Materials Photographs & Illustrations Graphs & Charts

Sales Aids: Electronic Media Computer-Based Presentations Video Slides Overhead Transparencies

Group Sales Presentations “When selling to groups, salespeople can expect tough questions and should prepare accordingly” “When selling to a group, salespeople should take every opportunity to pre-sell individual group members prior to the group presentation”

Sales Tactics for Selling to Groups Arrival – Arriving early may provide the opportunity to connect with each group member prior to meeting as a large group. Eye Contact – Make periodic eye contact with each member of the buying group Communication – Solicit opinions and feedback from each member of the buying group and avoid taking sides

The Pinnacle of a Sales Presentation Once a salesperson has: Pointed out the problem Prescribed how a product/service will solve that problem Presented the terms of the sale It is time to ascertain if the relationship will proceed with or without a transaction