Guide To A Successful NYC Trade Show March 25, 2010

Harvard Business Review NCR Case Study (????-????) Who is this guy?

Mr. John H. Patterson

Steps of a Sale #1 Approaching the customer #2 Determining needs #3 Presenting the product #4 Overcoming objections #5 Closing the sale

Approaching the Customer The first face-to-face contact with the customer. Can make or break a sale Sets the mood or atmosphere Establishes a relationship

The Approach Be professional, courteous, and respectful Establish good eye contact Be enthusiastic Show a sincere interest in person Be friendly and genuine Always use name of person Time the approach appropriately

What your mother said is true You never get a second chance to make a first impression!

Greeting: Hello my name is _____________. Welcome to the Chocolit Lounge! We hope your experience is a pleasurable one and you walk away with the most delectable chocolate there is. Who are you interested in buying chocolate for today? Maybe yourself, a co-worker, friend, or family member? You should take a look at our wonderful assortments of chocolate for every season.

Determining Needs in Sales Why determining needs is an essential step in the sales process. Three methods used for determining needs. What You’ll Learn

Why determining needs is important: Customer needs are related to buying motives. When customer needs are met, the salesperson experiences a feeling of success.

How to Determine Needs Observing – Nonverbal communication (body language such as facial expressions, hand motions, and eye movement.)

How to Determine Needs Listening – Helps you pick up clues

How to Determine Needs Questioning – Gets the customer talking –Begin with general questions about intended use. –Then ask Who, What, How questions

Guidelines for Questioning Do ask open-ended questions that encourage talking Do ask clarifying questions to make sure you understand needs Don’t ask too many questions in a row – customer may feel cross-examined Don’t ask questions that might embarrass or put the customer on the defensive

Product Presentation The goal of the product presentation How products are selected for the presentation What to say during the product presentation Four techniques that will make a lively and effective product presentation What You’ll Learn

The Goal of the Presentation Match customer’s needs with appropriate product features and benefits. To do this, follow these guidelines:

Show and Tell Select a few items that match needs. Begin by showing a trade show specials. Show no more than three products at a time Talk about the product’s features and benefits Use layman’s terms – words the average customer can understand.

Make the Presentation Come Alive Display and handle the product creatively and handle with respect. Demonstrating the product in use helps build customer confidence. Use sales aids such as samples, models, photos, graphs, charts, reprints, testimonials, warranty information

Involving the Customer If possible get the customer physically involved – hold it, try it on, test-drive it, eat the chocolate! Involve the customer verbally. Regain your customer’s attention by asking a question.

Objections The difference between objections and excuses The five buying decisions upon which common objections are based The general four-step method for handling customer objections The seven specific methods of handling objections and when each should be used. What You’ll Learn

Objections – concerns, hesitations, doubts, or other honest reasons a customer has for not making a purchase. Excuses – insincere reasons for not buying Welcome and plan for objections – they can guide you through the sales process.

Common Objections Need – may be a conflict between needs and wants Product – concerns with color, size, or style Source – past experiences with the firm or brand Price – “That’s more than I wanted to spend.” Time – “I think I’ll wait until July when these sandals are on sale.”

Process for Handling Objections Listen Carefully – demonstrate concern Acknowledge the Customer’s Objection – “I can see your point.” Restate the Objections – paraphrase Answer the Objection – be tactful!

Substitution – Recommending a different product that would satisfy the customer’s needs. Customer: “I don’t like the way this dress looks on me.” Salesperson: “Here, why don’t you try this dress. It has a completely different look. I think it will fit your style better than the one you just had on.” Specialized Methods of Handling Objections Boomerang – bring the objection back to the customer. Customer: “This ski jacket is so lightweight, it can’t possibly keep me warm.” Salesperson: “It’s made of a special material called Thinsulate which will keep you warmer than something heavier.” Question – question to learn more about the objections. Customer: “I don’t think my friend will like this shirt.” Salesperson: “Why don’t you think she will like it?”

Specialized Methods of Handling Objections Superior Point – Admit disadvantages in certain products but then present superior points to offset or compensate for them. Customer: “Your prices are higher than your competitors.” Salesperson: “That’s true. We use better quality materials and our product will last longer. Denial – use when the customer’s objection is based on misinformation. Customer: “This shirt will shrink.” Salesperson: “No, it won’t shrink because the fabric is a special blend.” Demonstration – Show how to operate a product. Seeing is believing! Use when appropriate Third Party – using a previous customer or another neutral person who can give a testimonial about the product. Customer: “I’m not sure how this sofa will look in my house.” Salesperson: “Well, Michelle King bought one just like it last month. She loves it.”

Product Knowledge: We have assortment of chocolate for every season, occasion, and holiday. You can purchase a chocolate bunny, egg, or pumpkin. But why stop there? Purchase one of our packages from $499 to $999. You will then have delicious, creamy chocolate delivered right to your door every month. Halloween: Christmas/the Holidays: Valentine’s Day: Easter: Persuasiveness of Sales Pitch: Why buy chocolate here today? Well, our chocolate is known to be the best in the nation. It is made fresh daily with the finest ingredients. If you do not like chocolate I am sure your friend, family member, or co-worker would love it! It will satisfy their taste buds! Are you on a budget? Purchase one of our smaller packages that are only $50 and include a smaller arrangement of chocolate.

How to Close a Sale The buying signals that a customer sends. The rules for closing a sale. The specialized methods of closing a sale. What You’ll Learn

Closing the sale is obtaining positive agreement from the customer to buy. Buying Signals – things customers do or say to indicate a readiness to buy. Comments Facial expressions Body language Actions Trial Close – the initial effort to close the sale. –T–Tests the readiness of a customer –B–Beneficial because you will learn, even if the customer is not ready. –B–Beneficial because you may reach your goal.

Good salespersons... Recognize closing opportunities Help customers make a decision Create an ownership mentality Don’t talk too much and don’t rush a customer HOW TO CLOSE A SALE… Which Close – encourages a customer to make a decision between two items. Review the benefits of each item Ask, “Which do you prefer?”

Standing-Room-Only Close – used when a product is in short supply or when the price will be going up in the near future. Use only when honestly called for May be perceived as “high pressure” tactic Say, “I’m sorry, but I can’t promise that I’ll be able to make you this same offer later.” Often used with high-demand real estate Direct Close – directly ask for the sale. Use when the buying signal is strong. “Can I assume that we’re ready to talk about the details of your order?” “How would you like to pay for this purchase?” Service Close – Explains obstacles that require special service in order to close the sale. Gift wrapping Return policy Warranties Bonuses or premiums Help paying for the item – offer credit

Failure to Close the Sale Don’t despair Invite the customer to shop in your store again Business-to-business sales are rarely closed on the first call – ask if you can call again. Practice and experience will help

Ability to Close the Sale: So now that you have found what you wanted, come on back and our salesman will ring up your order and send you a confirmation receipt today, as well as a receipt to take home.