What Do I Need to Know? Preparation => understanding: 1.Selling, salespeople, sales philosophies 2.Acquiring knowledge & information 3.Prospecting/targeting 4.Sales goals, strategies, aids 5.People types 6.Customer purchasing behavior

Major Faux Pas Results in Lost Sale Selling overseas (or to foreigners visiting the U.S.) demands a high degree of cultural sensitivity. Steve Waterhouse, affiliated with Waterhouse Group of Scarborough, Maine, learned this lesson the hard way. He had been courting a Tokyo-based meeting planning company for six months. Finally, he arranged a meeting with the company’s representative who was attending a national convention in the U.S. What breach of etiquette by Mr. Waterhouse resulted in the loss of a $100,000 sale? Source: Selling Today, by Manning and Reece (10 th ed., p. 40)

Who Is the ‘Smarter’ Sales Rep? Lyle is a corporate executive in charge of purchasing. He has two main competitive suppliers – Best Deal and Good Buy. Both companies’ products are good, their service is excellent, and the sales reps (Bonnie of Best Deal and Gary of Good Buy) know their product lines thoroughly. Lyle, however, prefers to give most of his business to Bonnie for what ‘knowledge’ reason?

Fill in the Blank “_____ is a global leader in providing pest management and biotechnology products that improve the quality of the earth’s food supply and contribute to the health and quality of life of the worlds’ growing population.” a. Dow Agri Sciences b. Dow Agro Sciences c. Dow-Agrisciences d. Dow-Agri Sciences e. Dow AgriSciences f. Dow Agro-Sciences g. Dow Agrosciences h. Dow AgroSciences

Preparation is.... Critical in determining how successful we are in: Taking a trip Giving a speech Going out on a date Taking an exam Interviewing for a job Making a sales call A key 1 st step in strategic agri-selling Essential for any sales call The difference between being average and outstanding Planning ahead Acquiring knowledge & information

What does knowledge and information do for you as a salesperson? Gives you power/ability to solve problems/write proposals Opens doors/makes you welcome Invites you back Helps you deal with objections/complaints Makes your customer happy, more money, etc. Builds your credibility Prevents errors Makes you job more fun Creates more self confidence & enthusiasm Facilitates sales presentations Saves time Enables you to pay attention to details

The Basics of Knowledge for a Salesperson: 1. Knowledge changes and so the process of acquiring and updating information is a never-ending process that continues throughout one’s career. 2. Different TYPES of knowledge are required/expected: Product (yours and the competition) Company (yours and the competition) Market Customer (specific and in general) Human Behavior (social styles, buying process)

Product Knowledge categories Production information History How it is made Improvements Performance information What it will/will not do Likely results/potential problems Maintenance Service agreements/warranties Purchase information Price Payment options Delivery terms

Customer expectations about your product knowledge as a salesperson You know more, a whole lot more, about your product than they do You will help them understand increasingly sophisticated product choices and possible customized product solutions (main reason you are needed?) You have at least some competitive product knowledge as well If you lack knowledge, you will admit it, and then go get it You will use it to emphasize the good things about your product instead of the bad things about your competition You are selling more than just a product, you are selling your expertise too It distinguishes your product from ‘mail order’ products and justifies your company’s decision to hire you

Company Knowledge History Ownership Brands Facilities Values/ethics/culture/mission Product support (after the sale)

Market knowledge is staying current on.... Economic (S&D) trends Your competitors’ activities Your customers’ competitors’ activities Weather conditions Interest rates Anything that affects customer buying decision

Customer knowledge.... Includes all those things you need to know to zero in on and find solutions to your customer’s problems. Involves a prospect profile that is a detailed fact sheet in a folder or on a computer listing information necessary for developing an effective sales call strategy. Typically includes information about a prospect’s: Name and address ■ Business situation Family situation ■ Current supplier Personality description ■ Credit rating Interests ■ Education Factors likely important in buying A professional salesperson will update a prospect profile as needed after every call. Customers expect you to remember this information.

Planning & Knowledge Quotes There is no shortcut to achievement, life requires thorough preparation. (George Washington Carver) It pays to plan ahead. It wasn’t raining when Noah built the ark. If I had 8 hours to chop down a tree, I would spend 6 hours sharpening the axe. (Abe Lincoln) Preparation is 90% of the sale. (Bob Wichman, former VP, Pioneer) Reading and study should be just as much a part of a salesperson’s day as calling on customers. (Sales Upbeat, Dec. 8, 1994) A college education won’t hurt you if you are willing to learn a little something after you graduate. (Lee Iacocca, former CEO, Chrysler Corp.)

Planning & Knowledge Quotes “There is no substitute for knowledge.” (W. Edwards Deming) If you don’t know where you’re going, you might end up somewhere else. (Yogi Berra, former New York Yankee) It takes three weeks to prepare a good ab-lib speech. (Mark Twain) Luck is when preparation meets opportunity. Most people don’t plan to fail, they fail to plan. There are many bridges to a better life. Knowledge happens to be the most reliable. (Howard Stein, Chairman & CEO, The Dreyfus Corp., 1992) Successful professionals pay ‘Attention to Detail’. You can get by on charm for about 15 minutes. After that, you had better know something.