Improving your selling skills and Improving your selling skills and strategy: strategy:

(learning the(learning thetactics of closing a sale”)tactics of closing a sale”)

ByBy

Angela IhunwezeAngela Ihunweze

Objective of the topic Objective of the topic 1. To improve your 1. To improve your

effectiveness of your effectiveness of your selling skills. selling skills.

2. Enlighten you on the 2. Enlighten you on the various strategies to use various strategies to use as you perform this as you perform this taskstasks

3. Achieve the overall 3. Achieve the overall objective of any objective of any business; Increase in the business; Increase in the bottom-line (Profit bottom-line (Profit making)making)

OverviewOverview

Universally there is a common Universally there is a common consensus that a consensus that a salesale is; the act of is; the act of sellingselling a product or service in return a product or service in return for money or other compensation. It for money or other compensation. It is an act of completion of a is an act of completion of a commercial activity. commercial activity.

Overview part 2Overview part 2

Difference between sales and Difference between sales and marketingmarketing

Marketing premised on the Marketing premised on the ability to satisfy the needs and ability to satisfy the needs and wants of the customers at a wants of the customers at a profit.profit.

WhileWhile selling is the act of persuading selling is the act of persuading

or influencing a customer to buy or influencing a customer to buy (actually exchange something of (actually exchange something of value for) a product or service. value for) a product or service.

Overview part 3Overview part 3

Sales processSales process► The selling process has The selling process has

six key steps. Virtually six key steps. Virtually every sales interaction will every sales interaction will follow these steps, follow these steps, whether it lasts several whether it lasts several minutes or several minutes or several months: months:

► ProspectingProspecting ► Initial ContactInitial Contact ► Sales PresentationSales Presentation ► Handling ObjectionsHandling Objections ► Closing the Sale Closing the Sale ► Follow-Up and Service Follow-Up and Service

after the Sale after the Sale

Steps to closing a saleSteps to closing a sale

Once you've made your presentation Once you've made your presentation and answered your prospect's and answered your prospect's questions and objections, it's time to questions and objections, it's time to ask for the sale. This is the second-ask for the sale. This is the second-most neglected stage of the sales most neglected stage of the sales cycle... which is especially sad given cycle... which is especially sad given that it's probably the most critical one. that it's probably the most critical one.

When you move from 'vacuum salesman' to trusted advisor you seal more deals.When you move from 'vacuum salesman' to trusted advisor you seal more deals.

Introduction to some basic Introduction to some basic closescloses

Basic ClosesBasic Closes

These are fairly simple to These are fairly simple to implement and will work on a implement and will work on a wide range of prospects. If wide range of prospects. If you presented the product you presented the product well and responded to the well and responded to the prospect's objections, the prospect's objections, the close follows naturally.close follows naturally.

Types of basic closesTypes of basic closes► The Assumptive CloseThe Assumptive Close The assumptive close is the most The assumptive close is the most

generic, and is the one you'd use if you generic, and is the one you'd use if you haven't been able to fit the prospect to haven't been able to fit the prospect to a more customized close. After you've a more customized close. After you've made your presentation and answered made your presentation and answered the prospect's questions, you ask a the prospect's questions, you ask a question that assumes your prospect is question that assumes your prospect is about to buy the product. Here are a about to buy the product. Here are a few examplesfew examples::

► Would you prefer red or blue? Would you prefer red or blue? ► Our standard delivery can have this to you Our standard delivery can have this to you

by Tuesday, or will you need our rush by Tuesday, or will you need our rush delivery option? delivery option?

► Will ten units do for a start? Will ten units do for a start? ► I can get you a 10% discount if you pay for a I can get you a 10% discount if you pay for a

year in advance, would that work for you? year in advance, would that work for you? ► Will you be having fries or onion rings with Will you be having fries or onion rings with

your meal? your meal? ► OK, you probably won't use that last one OK, you probably won't use that last one

very often. It shouldn't be too difficult to very often. It shouldn't be too difficult to come up with a handful of similar come up with a handful of similar assumptive questions that fit your assumptive questions that fit your product(s) or service(s).product(s) or service(s).

This leads the customer to make decisionThis leads the customer to make decision

Types of basic closes part 2Types of basic closes part 2

The Time-Limit CloseThe Time-Limit Close This is a good one to use if your prospect utters the fatal This is a good one to use if your prospect utters the fatal

phrase “I'd like to think it over first.” Pause for a beat, phrase “I'd like to think it over first.” Pause for a beat, then nod thoughtfully and say something like this:then nod thoughtfully and say something like this:

► ““I can certainly understand your wanting to think about I can certainly understand your wanting to think about this, but I want to let you know now that this model this, but I want to let you know now that this model you'd like is a popular one and we're usually under you'd like is a popular one and we're usually under stocked. I'd hate for you to be stuck with a model that's stocked. I'd hate for you to be stuck with a model that's not as good a fit just because this one's not available not as good a fit just because this one's not available tomorrow!" if that is the situation on ground) tomorrow!" if that is the situation on ground)

► Or you can mention a discount that will expire in two Or you can mention a discount that will expire in two days, or a promotion such as a gift with purchase that's days, or a promotion such as a gift with purchase that's about to end. Of course, this only works if such a about to end. Of course, this only works if such a limitation exists – don't ever lie to a prospect!limitation exists – don't ever lie to a prospect!

Types of basic closes part 3Types of basic closes part 3

The Custom CloseThe Custom Close► If you've qualified the customer If you've qualified the customer

well, you've probably gathered a well, you've probably gathered a lot of information about their lot of information about their preferences (color, size, features, preferences (color, size, features, quality level, amount they're quality level, amount they're ready to spend, etc.). When you're ready to spend, etc.). When you're ready to close, look at your notes ready to close, look at your notes and highlight the points you jotted and highlight the points you jotted down and introduce your product down and introduce your product or service , mentioning how it will or service , mentioning how it will address the issues raised. If there address the issues raised. If there no objectives still smiling, hand no objectives still smiling, hand over the contract and point out over the contract and point out the signature line. Since you've the signature line. Since you've already accounted for everything already accounted for everything the prospect says they want in a the prospect says they want in a TV, it's unlikely they'll back out TV, it's unlikely they'll back out now.now.

Words of wisdomWords of wisdom

► As you develop a sales process that is right for you and your business, As you develop a sales process that is right for you and your business, here are some other pointers to keep in mind: here are some other pointers to keep in mind:

► Continuously improve your sales skills, learn from others and stay Continuously improve your sales skills, learn from others and stay open to new ideas. open to new ideas.

► Be sincere about your desire to help the prospect. Making the sale Be sincere about your desire to help the prospect. Making the sale should be your secondary objective. This attitude will come through in should be your secondary objective. This attitude will come through in every encounter and will help you build long-term relationships. every encounter and will help you build long-term relationships.

► Contribute more than just your product. Provide industry news Contribute more than just your product. Provide industry news updates, creative ideas, and business advice as part of the service updates, creative ideas, and business advice as part of the service you offer. you offer.

► Be direct with your communication. Beating around the bush only Be direct with your communication. Beating around the bush only frustrates people. Answer all questions. Never patronize. frustrates people. Answer all questions. Never patronize.

► Enclose your business card with every letter and note. Enclose your business card with every letter and note. ► Thank people who refer prospects to you. If the referral results in Thank people who refer prospects to you. If the referral results in

business, send a small, business-related thank-you gift also. business, send a small, business-related thank-you gift also. ► Never lie. Don't badmouth the competition or say negative things Never lie. Don't badmouth the competition or say negative things

about their clients. Don't gossip. about their clients. Don't gossip. ► Don't overbook yourself so much that you don't have time to listen Don't overbook yourself so much that you don't have time to listen

and be available to your customer for their questions and comments. and be available to your customer for their questions and comments.