Strengthening The Presentation Chapter 9

Characteristics Of A Strong Presentation Communication tools such as visual aids, samples, testimonials, demonstrations and the use of humor are important ingredients in most sales calls These tools help focus the buyer’s attention, improve the buyer’s understanding, helps remember what the salesperson said, offers concrete proof of the salesperson’s statements, and creates a sense of value

Keep The Buyer’s Attention Stay interactive with buyer to avoid boredom or lack of attention Get the buyer actively involved in the communication process The buyer’s personality can also affect his or her attention span

Improve The Buyer’s Understanding Salespeople need to utilize all available communication tools to help individuals, who have problems forming clear images, better understand the solution to the problem or the opportunity being presented Notice – more senses involved – better retention of message Multiple-sense appeals-appeal to more than one sense P. 232 Sellers of some products use appeals to all of the senses; others involve 2 to 3

Helps The Buyer Remember What Was Said People immediately forget 50 percent of what they hear; 75 percent of the message is forgotten after 48 hours Securing an order often requires multiple visits Profitability occurs when the selling situation was memorable Lasting impressions can be created in many ways Present skillfully in a well-timed demonstration

Offers Proof Of Salesperson’s Assertions Most people won’t believe everything a salesperson tells them Creating trust is very important Salespeople require tools to back up their claims – 3rd party sources

Creates A Sense Of Value The manner in which a product is handled suggests value Careful handling- positive Careless handling- negative The use of communication tools can also make a statement about the importance of the buyer

How To Strengthen The Presentation Use of communication tools (word pictures, stories, humor, charts, models, samples, gifts, catalogs, brochures, pictures, ads, maps, illustrations) The seller should strategically select methods and media that will helpfully address the needs of the buyer Adapt to the buyer

Verbal Tools Word Pictures and Stories Use stories from your own life Make sure you have a reason for telling the story Use the “hook” of the story to directly tie back in presentation Be accurate and vivid with the words you choose Pace the story Choose stories that fit your own style Stories can be quite short

Verbal Tools Humor Don’t oversell Don’t apologize before telling a joke Identify any facts that are absolutely necessary for the punch line of the story to make sense Enjoy yourself while you’re relating the humor by smiling and animating your voice and nonverbals Practice telling the joke different ways to see which exact wording works best Make sure your punch line is clear

Visual Tools Charts Know the single point the visual should make and ensure that it accomplishes that point Use current and accurate information Don’t place too much information on a visual Use bullets to emphasize key points Don’t overload the buyer with the numbers Clearly label each visual with a title Recognize the emotional impact of colors and choose appropriately If possible, use graphics instead of tables Use consistent art styles, layouts, and scales for your collection of charts and figures Check your visuals for errors

Models, Samples & Gifts Models, Samples, and Gifts Miniature models serve as substitutes for products too large or bulky to transport Cross-sectional models illustrate how a product is constructed Carry a sample for demonstration purposes Samples, if they perform effectively, can make excellent sales aids Samples and gifts help to maintain the prospect’s interest after the call and serve as a reminder

Continued Catalogs and Brochures Aids communication of information Brochures often summarize key points and contain answers to the usual questions buyers pose Large amounts of money are usually spent on developing visually attractive brochures Pictures, Ads, Maps, and Illustrations Easy to prepare, relatively inexpensive, and permit a realistic portrayal of product and its benefits Photographs of people and copies of recent or upcoming ads may contribute visual appeal

Testimonials & Test Results Testimonials-statements, usually letters, written by satisfied users of a product or service The effectiveness depends on the skill in which it is used and a careful matching of satisfied user and product Before using a testimonial check with the person who wrote it and frequently reaffirm he or she is a happy (satisfied customer) Should only be used if they help address the buyer’s needs or concerns Use test results to strengthen the presentation

Appropriate Media Media Used To Display Visual Tools Choose media appropriate for the situation Recent survey: 96 percent agree technology enhances presentations Sales Portfolios Portfolio- paper-based collection of visual aids, often placed in a binder or container, used to enhance communications during a sales call Should contain a broad spectrum of visual aids the salesperson can find quickly if needed

Digital Collateral Management Systems Archives, catalogs & retrieves digital media & text Collateral = collection of documents SAVO = can call up videos, photos, audio files, PP templates, Web pages, legal documents, etc. www. Savogroup.com

Continued Document cameras (visual presenters)-like overheads, but are capable of displaying any three-dimensional object Electronic whiteboards (digital easels)- used when working with customers who prefer to brainstorm an issue or problem

Product Demonstrations One of the most effective methods of appealing to the buyer’s senses Hands-on product demonstrations illustrate quality, effectiveness, and provide an interactive component Executive briefing centers – specific highly specialized rooms designed to showcase company’s capabilities

Handouts Read text – P. 245-246 For your in-class presentations: Handouts are a critical tool – short, specific and passed out when you are about to discuss them Wait until everyone has the handout before talking

Handouts Handouts-written documents provided to buyers to help them remember what was said A well prepared set of handouts can be one of the best ways to increase buyer retention of information (long-term) Careful preparation is required Important for foreign buyers Helpful Tips Don’t forget the goal of your meeting Make sure the handout look professional Don’t cram too much information on a page Don’t drown your prospect in information

Written Proposals The RFP Process Definition: A document issued by a prospective buyer asking for a proposal (request for quote (RFQ), request for bid (RFB)) Should contain the customer’s specifications for the desired product, including delivery schedules The customer has a firm idea of the product needed The salesperson can assist the customer in identifying needs and specifying product characteristics Buyers want the bottom line

Written Proposal Written Proposals Keep the customers’ needs in mind Three parts of a proposal: 1) Executive summary- a brief description of the problem to be solved and a brief description of the proposed solution 2) A description of the current situation in relation to the proposed solution 3)Budget Many salespeople compare the current situation with the proposed solution on the same sheet Some proposals are too complicated for such a simple approach

Customer Value Analysis How is your product/service unique? Quantifying the solution: Read in text – P. 238-241 Examples of quantifying: cost/benefit analysis; ROI; Payback period; net present value; & opportunity cost. EXTREMELY IMPORTANT!

Quantifying The Solution Quantifying the solution- strengthening the presentation by showing the prospect that the cost of the proposal is offset by added value More important in some situations than others Products or services that pose little risk involves very little quantifying of the solution Products or services that pose moderate to high risk; quantifying the solution becomes increasingly important Quantifying the solution is imperative in super-high-risk situations

Continued Simple Cost-Benefit Analysis one of the simplest methods of quantifying the solution, lists the costs to the buyer and the savings the buyer can expect from the investment Buyers must supply information for it to be realistic and meaningful Comparative Cost-Benefit Analysis Comparisons of the present situation’s costs with the value of the proposed solution ( or with that of a competitor) Involve prospect while creating figures

Continued Return on Investment ROI = Net Profits (or savings) / Investment Salespeople need to find the firm’s minimum ROI or ROI expectations Payback Period Definition: The length of time it takes for the investment cash outflow to be returned Payback Period = Investment / Savings (or profits) per year For the buyer, it indicates how quickly the investment money will come back and a good measure of risk

Continued Net Present Value (NPV) Definition: The net value today of future cash inflows minus the investment NPV = Future cash inflows discounted _ Investment into today’s dollars Opportunity Cost Definition: The return a buyer would have earned from a different use of the same investment capital Other Methods of Quantifying the Solution Turnover, contribution margin, accounting rate of return, and after-tax cash flows

Selling Value to Resellers Resellers primarily concerned about three two key factors: 1. Will their customers buy the product/service, and 2. How much will they make on the sale (profit margin)? Profit Margin Inventory Turnover Return on Space

Dealing With The Jitters Know your audience well Know what you’re talking about Prepare professional, helpful visuals Be yourself Get a good night’s sleep Feed off energy and enthusiasm of audience Recognize effects of fear and accommodate yourself Visualize your audience as your friends Psych yourself up for the presentation Realize that everyone gets nervous before presentations PRACTICE, PRACTICE, PRACTICE !

Dealing with the jitters Read P. 245 I will always cover for you! No embarrassment – promise! This is your training ground! You can feel safe here! Remember, we are the national champion!

Questions?