high impact selling in competitive markets · •nothing happens until someone sells something -...
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HIGH IMPACT SELLING IN
COMPETITIVE MARKETS
Gulf Coast Real Estate & Economic Education Conference
Center for Real Estate and Economic Development
Mitchell College of BusinessUniversity of South Alabama
Alvin J. WilliamsAugust 18, 2016
OUR GOALS FOR THE DAY
• To convey the importance of specific selling skills for job success in the highly-competitive real estate field.
• To understand the selling process and the impact of external and internal factors on the process.
• To connect relationship marketing and organizational success in real estate.
OUR GOALS FOR THE DAY
• To underscore the importance of customer knowledge in sales success.
• To reinforce the link between market segmentation and sales goal achievement.
• To understand the mechanics of developing, implementing, and assessing a sales plan.
WHAT ARE YOUR GOALS FOR THIS SALES
WORKSHOP?
• GOAL #1
• GOAL #2
• GOAL #3
• GOAL #4
WHAT IS SELLING?
• Personal selling is a relationship building, trust-based process aimed at:
– Creating and delivering value
– Gaining new business
– Maintaining current customer base
– Solving problems and satisfying customer needs
SOME TRUTHS ABOUT SALES
• Nothing happens until someone sells something - product, service, idea, point of view, attitude…
• Selling adds value!
• Selling enhances performance!
• Everybody is selling to everybody• Everybody is selling to everybody ALL THE TIME!
REFLECTION POINT
• What do you ‘sell’ on the job everyday?
• Do you ‘sell’ something different to different groups?
– How does your sales approach change?
• How would you rate your ‘selling skills’ on a scale of 1-10.
REFLECTION POINT
• As members of your real estate team, all of you add value.
– HOW do you add value?
– WHERE do you add value?
• How can selling skills help you ‘add more value’ to the real estate team?
YOUR REAL ESTATE BRAND
AND SALES SUCCESS
• Why do customers value certain brand names?– How is your brand valued?
• What is the value of ‘your’ brand name?
• Every brand has its own unique ‘personality’
• A brand name is an asset.
• Loyalty is built around brand names.
RELATIONSHIP SELLING
• What is a relationship? – A conscious and deliberate effort
to nurture interaction between parties for mutual benefit.
FACTORS IN BUILDING BUYER-SELLER
RELATIONSHIPS
• Trust (expertise, reliability, genuine concern)
• Mutual Respect
• Value
• Perceived fairness in the relationship
• Open and honest communication
VALUE PROPOSITION – THE CORE OF
SELLING
• What value is added by your product or service?
• Expected benefits vs. expected costs: closing the gap = value proposition
• Why should we do business with you?
• What differentiates you from competing real estate firms?
THE SELLING PROCESS
• Prospecting strategy and sales call planning
• Sources of prospects
• Is your prospecting plan systematic?
• Developing the sales call strategy
ProspectingSales Call Strategy
The Sales CallHandling
ObjectionsClosing the
SaleFollow Up
REFLECTION POINT – PROSPECTING
STRATEGY
As a well-known realtor in the Mobile area, you have been asked to develop a systematic prospecting plan for each of the following sectors:
How would you do this?
• Residential
• Retail
• Commercial
• Industrial
SHARING THE SALES MESSAGE
EFFECTIVELY
• Successfully communicating the sales message
• Alternative sales presentation strategies (memorized, formula, need satisfaction, problem-solving)
• What are the elements of a great sales presentation?
THE SELLING PROCESS – MOVING
TOWARD WIN/WIN SOLUTIONS
• Managing customer concerns
• Reducing perceived risk levels
• Re-visit the value proposition
• Negotiating the path to mutual success
THE SELLING PROCESS – CLOSING THE
DEAL AND FOLLOWING UP
• What is closing and why is it so difficult?
• Barriers to effective closing
• Closing strategies – balance sheet close, benefit summary, alternative choice close
• Effective management of the post-purchase process
DEVELOPING A SALES
PLAN
• Define your business clearly
– What business are we really in?
• But be careful!!
• DO NOT ‘DEFINE’ YOUR BUSINESS TOO NARROWLY OR TOO BROADLY
DEVELOPING A SALES
PLAN
• What are your distinctive competencies??
In other words… What can we do better than anyone else??
DEVELOPING A SALES
PLAN
• Identify major market segments and their differences.
– Are there gaps in the market?
DEVELOPING A SALES
PLAN
• Consumer analysis
– Who?
– What?
– Where?
– How?
– When?
– Why?
DEVELOPING A SALES
PLAN
– Demand analysis: What are the factors that can impact demand?
Demand
Economic
Social/Cultural
Political
Others??
Financial
Environmental
DEVELOPING A SALES
PLAN
DEVELOPING A SALES
PLAN
• Review sales performance historically (weeks, months, years)
DEVELOPING A SALES
PLAN
• Develop a sales strategy, with specific goals & action plans (who, what, where…)
• Attach $$$ to each aspect of the strategy.
– What is the true cost of implementation?
– Is it really worth it?
– Are there alternative cost models that will deliver similar results?
DEVELOPING A SALES
PLAN
• Evaluate the effectiveness of the sales plan.
• Identify specific indicators of success.
LISTEN TO THE CUSTOMER!
• Listen and understand the customer’s point of view.
• Be truthful and honest with customers.
• Be responsive and attentive to customers’ needs.
LISTEN TO THE CUSTOMER!
• Follow through - do what you promise!
WHAT IS A CUSTOMER WORTH?
• Lifetime customer value (LCV) – the present value of a stream of revenue that can be produced by a customer
WHAT IS A CUSTOMER WORTH?
• It is much more difficult and costly to GET a customer than to KEEP a customer!
CREATIVITY AND SALES SUCCESS
• Creativity allows you to sell new solutions.
• Creativity makes you more competitive.
• Creativity increases your level of performance.
• Creativity adds value to what you do.
• Creativity is key to sales success!
LEADERSHIP AND SELLING SUCCESS IN
REAL ESTATE
• Leadership involves selling.
• When you lead, you sell yourself, your ideas, the company and its values.
LEADERSHIP AND SELLING SUCCESS IN
REAL ESTATE
• All good leaders are good salespersons.
• If you can’t sell, you can’t lead well.
• When leadership is missing, you can’t sell.
LEADERSHIP AND SELLING SUCCESS IN
REAL ESTATE
• Every real estate team member has to be sold on the company’s mission, goals, culture, people, and its future.
COMMUNICATIONS AND SALES SUCCESS
IN REAL ESTATE
• Selling is all about effective communications!
• Selling involves both verbal and non-verbal communications.
• Successful sales reps constantly assess their communications effectiveness.
VERBAL COMMUNICATION
Choose the ‘right tone’ to communicate
VERBAL COMMUNICATION
NONVERBAL COMMUNICATION
NONVERBAL COMMUNICATION