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Selling Your Product. 9. Section 9.1 Principles of Successful Selling Section 9.2 Estimating Sales. Principles of Successful Selling. 9.1. Explain the importance of personal selling List the characteristics of successful salespeople Describe the main parts of the selling process - PowerPoint PPT Presentation

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  • Section 9.1 Principles ofSuccessful SellingSection 9.2 Estimating Sales

    OBJECTIVES

    Explain the importance of personal sellingList the characteristics of successful salespeopleDescribe the main parts of the selling processUnderstand the key documents and forms used in selling*Section 9.1: Principles of Successful Selling

  • Personal selling has several advantages over other types of promotion:Helps Build Personal Relationships. Personal selling involves contact by means of face-to-face meetings, telephone calls, and videoconferencesAllows for Customized Communication. Because personal selling is an interactive form of communication, salespeople have the opportunity to adapt their message to each potential customer. Helps Reach Business Customers. Personal sellings two-way method of communicating is especially effective for selling to business customers. *Section 9.1: Principles of Successful Selling

  • Positive Attitude. Successful salespeople focus on the positive, even when times are tough. Good Listener. Successful salespeople learn how to ask their customers quality questions and then listen closely without interrupting.Persistent. Patience and persistence are needed by all salespeople who wish to become successful.Hard Worker. Salespeople must take responsibility for their own success, make goals for themselves, and form strategies to reach them.Truthful. Be honest with customers. Establish trust for a positive, long-term business relationship.Consistent. To become successful, you need to be dependable. Consistency builds trust, which leads to better customer relationships.*Section 9.1: Principles of Successful Selling

  • The main steps in the selling process are:Finding and qualifying sales leadsPreparing for a sales callMaking the sales callClosing a sale and following upA sales lead is a person or company that has some characteristics of your target market. Leads are obtained in several ways:Promotional ResponsesReferralsData MiningCold Calls*Section 9.1: Principles of Successful Selling

  • Before making a sales call, you should:Set Up an AppointmentLearn About the ProspectKnow Your Product or ServiceDevelop an Overall Selling StrategyWrite a Presentation OutlineTo make your sales calls more successful:Be on TimeTry to Build RapportAsk Questions and Take NotesAnswer ObjectionsAsk for a CommitmentFollow up with new customers to make sure that process met their expectations.*Section 9.1: Principles of Successful Selling

  • Commonly used sales forms include:Sales Call LogsSales ProposalsOrder FormsSales ReceiptsSales Contracts*Section 9.1: Principles of Successful SellingCall Log

    OBJECTIVES

    Consider who may be needed in your sales forceIdentify costs related to a sales forceExplore methods used to estimate sales*Section 9.2: Estimating Sales

  • Your sales force planning should answer such questions as:What selling methods do you plan to use?Who do you need in your sales force?How much and what type of training do you need for your sales force?How large a sales budget do you need so you can pay your sales force?What estimated amount of sales can you expect the sales force to achieve over a specific time period?*Section 9.2: Estimating Sales

  • External sales are obtained by hiring another company to do the selling for you.Internal sales are obtained by you or your employees who sell your products or services exclusively.Sales force roles include:Order GettingOrder TakingSales Support*Section 9.2: Estimating Sales

  • There are three basic expenses related to a sales force:CompensationTrainingExpenses*Section 9.2: Estimating Sales

  • There are three main options for compensating salespeople:Salary Only. A salary is a fixed amount of money that an employee is paid on a regular basis.Commission Only. A commission is an amount paid based on the volume of products or services that a salesperson sells.Base Salary Plus Commission. Most often, salespeople are paid with a combination of salary and commission.A sales quota is a target amount of sales per month or quarter that a salesperson is expected to achieve.A sales territory is the specified geographical area for which a salesperson is responsible.*Section 9.2: Estimating Sales

  • Some subjects taught in company training programs are:Company InformationProduct or Service KnowledgeTarget Market CharacteristicsInformation on the CompetitionGeneral Selling Techniques and MechanicsTechnology Skills*Section 9.2: Estimating Sales

  • There are four general steps in preparing a sales forecast:Analyzing current conditionsReviewing past salesMaking educated predications about the futureEstimating your future sales for a specific time period*Section 9.2: Estimating Sales

  • Common forecasting techniques:Full CapacityObservational DataIndustry StandardsIndustry/Seasonal CyclesTeam EffortNumber of Customers versus DistanceMarket Share

    Proportional Scaling*Section 9.2: Estimating SalesNumber ofNumber ofAverage Amount of CustomersPurchases per YearEach Purchasexx

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