The Power of Selling, 2010a

More documents

Recommendations

Info

No one likes to deliver bad news. But it’s not always good news that you will have to tell a customer. The best antidote for bad news is a good relationship. If you have nurtured your relationship with the customer and built trust, it is much easier to deliver bad news. When it’s time to deliver bad news, like a delayed delivery, a cost increase, or a discontinued product line, don’t put it off. Use the same practices that you use to build your relationships: open, honest, and timely communication. As soon as you learn about information that may be bad news for your customer, contact her by phone to discuss the situation: “I realize we set Thursday as the installation date for phase one, but there have been some delays in development. Can we reschedule it for next Tuesday? I’m confident that everything will be complete by then. I apologize for any inconvenience. Let’s talk about any challenges this may cause on your end. I have some ideas about how we might work around them.” The sincerity in your voice and the dialogue you have with the customer can help avoid turning bad news into a serious problem. Because you have always made a point of underpromising and overdelivering, there is a high likelihood that your customer will respond positively to your ownership of the problem and solution-based conversation. It’s always best to include a realistic solution to the problem and, if you don’t have a solution, let the customer know exactly when you will get back to her with an update. Win-Win-Win: The Ultimate Relationship If you do volunteer work for an organization such as Autism Speaks, you get involved because you believe in raising awareness of autism to increase funds for research for the cure. Those who have autism and their families benefit from your involvement. This is win #1. You also benefit because you gain the satisfaction of helping people. This is win #2. You help build the strength of the organization, in this case, Autism Speaks. The more people that are involved, the more people they can reach with their message, and the more money they can raise to reach their goal of curing autism. This is win #3. The above example is an illustration of the win-win-win concept in relationships. In other words, in the ultimate relationship, all parties have something to give and something to gain. This same win-win-win occurs in successful selling relationships. Your customer wins because he gets your advice and expertise to help him find a product or service that meets his needs. You win because you have enhanced your relationship and made a sale; and your company wins because the relationship, the sale, and the repeat sales help it achieve its goals. Saylor URL: http://www.saylor.org/books Saylor.org 99
Although the win-win-win may sound like a simple concept, it is a critical one to keep in mind in any business position, especially in selling. This art of collaboration actually results in more business with your existing customers because you have become a partner in solving their problems, and it brings you new business in the form of referrals. The win-win-win also plays a significant role in the negotiating process (covered in ). The best business relationships and negotiations are based on the win-win-win model, not the win-lose model in which one party loses so that the other can win. [29] A Seat at the Table The seat at the table is given to those salespeople who deliver value, not sell products or services. They develop the relationship to assist customers in implementing their business strategies. [30] Customers want value in the form of strategic thinking around issues that are important to them and their company goals. As a result, your goal as a salesperson should be to help your customers create demand, secure a competitive advantage, and identify a new niche. When you deliver this kind of value, your customers will no longer see you as a salesperson; they will see you as a “business person who sells.” It’s this kind of thinking and value creation that earn you a seat at the table. The seat at the table also helps you expand your business because you will be integrated into your customer’s business. That allows you to deliver your core products or services and be a part of developing the new opportunities. It helps cement the relationship and establishes a partnership that delivers value for all involved. [31] Every salesperson wants “a seat at the table”; she wants to be a part of the decision-making process. That is the epitome of consultative selling: you are included in the process from the beginning. You want to be included as a valued partner with your business-to-business customers to discuss their company’s strategic questions like “How will we grow our business in the next three years while technology is driving down the average selling price of our product?” “How can we extend our relationship with our customers beyond our contract period?” or “How can we expand to new markets and minimize our risk?” These are not traditional sales questions; they are strategic issues that companies wrestle with. When you are a true partner with your customers, you will be given a seat at the table when direction-setting issues are discussed. This allows you to participate fully as a trusted advisor and asset to the customer and to help shape the strategy of the company. It changes your relationship with the contact and the company from salesperson to partner. Although it may seem like a lofty goal, consider this: If you want to have a seat at the table, not only will you need to solve your customer’s problems and anticipate her needs, but Saylor URL: http://www.saylor.org/books Saylor.org 100
Page 2 and 3:
This text was adapted by The Saylor
Page 4 and 5:
helping you learn and succeed. In f
Page 6 and 7:
Sales professionals (left to right)
Page 8 and 9:
Andrew Sykes, Pharmaceutical Sales
Page 10 and 11:
Chapter 1 The Power to Get What You
Page 12 and 13:
Pearson-Bernard, the president and
Page 14 and 15:
Mac and fries, and you always know
Page 16 and 17:
Personal selling is a powerful part
Page 18 and 19:
But the bigger story is the fact th
Page 20 and 21:
understand the power of collaborati
Page 22 and 23:
departments, according to Dennis J.
Page 24 and 25:
At times, however, sales and market
Page 26 and 27:
6. [4] Bureau of Economic Analysis,
Page 28 and 29:
Chapter 6 "Why and How People Buy:
Page 30 and 31:
Resource Description information. J
Page 32 and 33:
Choosing a career direction and wri
Page 34 and 35:
managed your costs and time. Every
Page 36 and 37:
Now that you have read this chapter
Page 38 and 39:
2. Write your personal mission stat
Page 40 and 41:
garage in 1976. Jobs said, “I was
Page 42 and 43:
Contrary to popular belief, speakin
Page 44 and 45:
evealed that boomers are more likel
Page 46 and 47:
many can put it all together.” [2
Page 48 and 49:
phone?” No techno-talk, no slick
Page 50 and 51: A good salesperson does more than s
Page 52 and 53: 18. [13] Margaret Norton, “Is the
Page 54 and 55: Toshiba to manufacture laptop compu
Page 56 and 57: Types of B2B and B2C Selling When y
Page 58 and 59: outside salesperson. Inside salespe
Page 60 and 61: Title Description Industries manage
Page 62 and 63: Selling Power Magazine “50 Best C
Page 64 and 65: You’ve now seen how B2B, B2C, and
Page 66 and 67: want to focus on making a contribut
Page 68 and 69: 14. [7] Justin Sorkin, “AT&T Urgi
Page 70 and 71: lasting impression. If you think yo
Page 72 and 73: Figure 2.8 Standard Résumé Incorp
Page 74 and 75: Now, it’s time to put your brand
Page 76 and 77: Step 4: Write Your Bullet Points On
Page 78 and 79: Consider the difference between the
Page 80 and 81: 1. First paragraph. Introduction an
Page 82 and 83: Step 3: Write Your Cover Letter Wit
Page 84 and 85: Saylor URL: http://www.saylor.org/b
Page 86 and 87: KEY TAKEAWAYS Your résumé and co
Page 88 and 89: Now it’s time to put what you’v
Page 90 and 91: The Power of Building Relationships
Page 92 and 93: ather than what you want to sell he
Page 94 and 95: single man could and should be nurt
Page 96 and 97: For example, many companies offer l
Page 98 and 99: Trust Me “The check is in the mai
Page 102 and 103: according to Tim Conner, sales trai
Page 104 and 105: irthday celebration went, or even j
Page 106 and 107: A solid relationship is essential,
Page 108 and 109: 29. [24] Tom Reilly, “Relationshi
Page 110 and 111: than your friends? Do you speak to
Page 112 and 113: opinions in their decision making.
Page 114 and 115: Expressives are creative and can se
Page 116 and 117: thanks.” It’s important to note
Page 118 and 119: 16. [13] Barton A. Weitz, Stephen B
Page 120 and 121: providing an excellent method to ne
Page 122 and 123: Jon: Have you talked to anyone at U
Page 124 and 125: down an otherwise promising job can
Page 126 and 127: Search the social networking job bo
Page 128 and 129: 7. [3] Meredith Levinson, “How to
Page 130 and 131: Role: Pharmaceutical sales manager
Page 132 and 133: 7. Be professional; focus on facts
Page 134 and 135: eliefs and moral conduct. [6] Your
Page 136 and 137: marketing at the University of Notr
Page 138 and 139: Ethical Dilemmas in Business Not al
Page 140 and 141: just like personal ethics, mean doi
Page 142 and 143: attached. You might miss the opport
Page 144 and 145: Religion Values provide your person
Page 146 and 147: You learned about creating your per
Page 148 and 149: These ten things are the principles
Page 150 and 151:
Ludwig, author ofPower Selling, exp
Page 152 and 153:
At some point in your selling caree
Page 154 and 155:
o o Simon Cowell Angelina Jolie 4.
Page 156 and 157:
21. [19] Julie Creswell and Landon
Page 158 and 159:
44. [42] FedEx, “Company Informat
Page 160 and 161:
Conduct, for example, explains when
Page 162 and 163:
Family interests create a conflict
Page 164 and 165:
documents related to that fact, led
Page 166 and 167:
come face-to-face with these differ
Page 168 and 169:
9. [3] Starbucks, Business Ethics a
Page 170 and 171:
Selling Yourself versus Stretching
Page 172 and 173:
You: Well, I’ve been trying to ge
Page 174 and 175:
Figure 4.4Sample References Letters
Page 176 and 177:
Now that you have read this chapter
Page 178 and 179:
2. What influences your values? Mak
Page 180 and 181:
has often been referred to as a sof
Page 182 and 183:
The same thing can happen in a sell
Page 184 and 185:
Figure 5.3 Letter of Apology from J
Page 186 and 187:
you receive the check. Specificity
Page 188 and 189:
Take notes. While it may seem like
Page 190 and 191:
Figure 5.4 The Impact of Intonation
Page 192 and 193:
Touch Space or proximity Dress Mul
Page 194 and 195:
Touch neck: insecurity Crossed legs
Page 196 and 197:
extra time to review before you sen
Page 198 and 199:
EXERCISES 1. Choose an advertisemen
Page 200 and 201:
22. [13] Patricia M. Buhler, “Man
Page 202 and 203:
and established practices aren’t
Page 204 and 205:
Etiquette Tips for Conversations, M
Page 206 and 207:
The purpose of a business breakfast
Page 208 and 209:
Now, we’re seeing a bit of a reve
Page 210 and 211:
Don’t leave a long, rambling voic
Page 212 and 213:
Proper etiquette is a necessity in
Page 214 and 215:
10. [4] Kim Richmond, “Poll: Entr
Page 216 and 217:
31. [25] Patrick Welsh, “Txting A
Page 218 and 219:
An informational interview is exact
Page 220 and 221:
Informational interviews are usuall
Page 222 and 223:
Bring extra copies of your résumé
Page 224 and 225:
Your interviewee will most likely s
Page 226 and 227:
13. [8] “Informational Interviewi
Page 228 and 229:
You are meeting with a potential cu
Page 230 and 231:
and is best used for communicating
Page 232 and 233:
The science of consumer behavior de
Page 234 and 235:
what anyone did for a living, or if
Page 236 and 237:
Although recovery will be going on
Page 238 and 239:
to retailers such as Foot Locker, w
Page 240 and 241:
and your decisions don’t put you
Page 242 and 243:
Figure 6.7 Comparison of B2C and B2
Page 244 and 245:
technology will not only be expensi
Page 246 and 247:
The September 2009 issue of Vanity
Page 248 and 249:
An individual such as a buyer, purc
Page 250 and 251:
Content,http://www.associatedconten
Page 252 and 253:
The Traditional View of the Seven S
Page 254 and 255:
6. Evaluating proposals. After the
Page 256 and 257:
world to solve the problem. This is
Page 258 and 259:
Norm Brodsky is the owner of an arc
Page 260 and 261:
Traditional Seven Steps of Selling
Page 262 and 263:
Figure 6.10 Nutritional Information
Page 264 and 265:
Source:http://www.thedailyplate.com
Page 266 and 267:
Table 6.3 FAB in Action Product Fea
Page 268 and 269:
The traditional B2B buying process
Page 270 and 271:
15. [10] Bryan Eisenberg, “Buying
Page 272 and 273:
40. [36] Bryan Eisenberg, “Want T
Page 274 and 275:
Brand Positioning Point Feature Adv
Page 276 and 277:
Choose a few work samples. Select s
Page 278 and 279:
A word of caution: Your professiona
Page 280 and 281:
6. [2] “Job Search: Back Up Your
Page 282 and 283:
You are a salesperson for an advert
Page 284 and 285:
Chapter 7 Prospecting and Qualifyin
Page 286 and 287:
Saylor URL: http://www.saylor.org/b
Page 288 and 289:
If you’re satisfied with his resp
Page 290 and 291:
happens if the customer is not inte
Page 292 and 293:
and prospecting for new customers.
Page 294 and 295:
16. [13] Dave Dolak, “Sales and P
Page 296 and 297:
good fit. Sometimes you aren’t ac
Page 298 and 299:
1. Describe the ideal customer for
Page 300 and 301:
It costs five times more to attract
Page 302 and 303:
If you’re a member of the America
Page 304 and 305:
Forget Google for a minute. It migh
Page 306 and 307:
Database or Directory Good source f
Page 308 and 309:
Page 310 and 311:
Page 312 and 313:
Page 314 and 315:
Business journals such as the Phila
Page 316 and 317:
As a salesperson, you can use trade
Page 318 and 319:
isn’t a qualified prospect. For t
Page 320 and 321:
egin prospecting for another lead a
Page 322 and 323:
latest Google search results based
Page 324 and 325:
KEY TAKEAWAYS Prospecting takes c
Page 326 and 327:
21. [15] Paige Palmateer, “Inaugu
Page 328 and 329:
employment agencies. This is a fair
Page 330 and 331:
you might or might not find later o
Page 332 and 333:
Local business journals, like the P
Page 334 and 335:
Business Directories and Databases
Page 336 and 337:
sites to gather stats. Publicly hel
Page 338 and 339:
3. When a customer says, “It’s
Page 340 and 341:
9. There are several business journ
Page 342 and 343:
service in order to make a decision
Page 344 and 345:
Listing your goals in writing befor
Page 346 and 347:
Sporting Goods, Dick’s Sporting G
Page 348 and 349:
presentation. For instance, you mig
Page 350 and 351:
the company also has a communicatio
Page 352 and 353:
companies or people he has worked w
Page 354 and 355:
13. [7] Marcel Sim, “Leveraging Y
Page 356 and 357:
play MP3s, store a day planner, sur
Page 358 and 359:
for instance—can often be a surpr
Page 360 and 361:
question early on in the sales call
Page 362 and 363:
8. [2] Mark Anthony, “The Psychol
Page 364 and 365:
According to Gary Duncan, principal
Page 366 and 367:
SMART objectives give you the power
Page 368 and 369:
3. Assume you are a financial advis
Page 370 and 371:
order. For example, Szaky knows tha
Page 372 and 373:
2. Assume you are the director of d
Page 374 and 375:
tool, in combination with five othe
Page 376 and 377:
on your part. If one of your target
Page 378 and 379:
SMEI http://smei.associationcareern
Page 380 and 381:
Internships and professional organi
Page 382 and 383:
Use networking sites like LinkedIn
Page 384 and 385:
You can determine SMART precall obj
Page 386 and 387:
TEST YOUR POWER KNOWLEDGE ANSWERS 1
Page 388 and 389:
The Approach: The Power of Connecti
Page 390 and 391:
Communication Customization Collab
Page 392 and 393:
taste in shoes. As long as the appr
Page 394 and 395:
you will read more about the dos an
Page 396 and 397:
included fifteen-second audio spots
Page 398 and 399:
7. [4] Brian Johnson’s Philosophe
Page 400 and 401:
9.2 How to Start Off on the Right F
Page 402 and 403:
Approaching by Telephone Establishi
Page 404 and 405:
uilding up your wardrobe so that yo
Page 406 and 407:
prospect’s name in the heading an
Page 408 and 409:
new contacts: “I thought you migh
Page 410 and 411:
stop by on Tuesday morning so we ca
Page 412 and 413:
in the retail environment as it is
Page 414 and 415:
Customers can’t seem to stop sayi
Page 416 and 417:
1. Take the listening quiz by click
Page 418 and 419:
19. [12] Sharon Drew Morgan, “Thi
Page 420 and 421:
43. [36] Donna Siegel, “Relations
Page 422 and 423:
fewer paper jams than any other cop
Page 424 and 425:
contact you. She thought your compa
Page 426 and 427:
ing out several products for custom
Page 428 and 429:
move straight into a question or cu
Page 430 and 431:
9.4 Overcoming Barriers to Success
Page 432 and 433:
to go through the gatekeeper first.
Page 434 and 435:
2. Imagine that you are a sales rep
Page 436 and 437:
Your elevator pitch is critical bec
Page 438 and 439:
ask the person for their business c
Page 440 and 441:
Power Wrap-Up Now that you have rea
Page 442 and 443:
3. Use your elevator pitch in a pro
Page 444 and 445:
about to connect in an exciting way
Page 446 and 447:
presentations to their prospect’s
Page 448 and 449:
will you have to find a parking gar
Page 450 and 451:
EXERCISES 1. You are preparing for
Page 452 and 453:
to take off a jacket and tie than t
Page 454 and 455:
EXERCISES 1. Review the clothes tha
Page 456 and 457:
A good salesperson can read group d
Page 458 and 459:
keeping an eye on group dynamics du
Page 460 and 461:
When the five executives arrived, W
Page 462 and 463:
It is also important to resist the
Page 464 and 465:
salespeople who are starting out an
Page 466 and 467:
won’t get read. [30] Don’t rely
Page 468 and 469:
A cost-benefit analysis asks the qu
Page 470 and 471:
through but (b) establishing a conn
Page 472 and 473:
2008,http://www.completeselling.com
Page 474 and 475:
36. [29] Geoff William, “The Perf
Page 476 and 477:
prospect you have already met.) [4]
Page 478 and 479:
You: So your IT people have regular
Page 480 and 481:
In smaller sales, obtaining commitm
Page 482 and 483:
unstated needs: situation, problem,
Page 484 and 485:
1. Learn the five steps of a succes
Page 486 and 487:
that shows how outsourcing your bac
Page 488 and 489:
to make sure you understand and hav
Page 490 and 491:
information you are presenting and
Page 492 and 493:
a call to action that asks the pros
Page 494 and 495:
Timing: When to Deliver Your Propos
Page 496 and 497:
The most important ingredient of a
Page 498 and 499:
18. [10] Kelley Robertson, “How t
Page 500 and 501:
10.6 Selling U: Selling Yourself in
Page 502 and 503:
Does this company deal in B2B or B2
Page 504 and 505:
important to be honest when you res
Page 506 and 507:
Interviewers often ask this questio
Page 508 and 509:
Step 8: Prepare Your Wardrobe Your
Page 510 and 511:
A job interview is like a sales pre
Page 512 and 513:
18. [15] Kim Richmond, Brand You, 3
Page 514 and 515:
PUT YOUR POWER TO WORK: SELLING U A
Page 516 and 517:
Chapter 11 Handling Objections: The
Page 518 and 519:
What Are Objections? Objections, al
Page 520 and 521:
what you can deliver and by when. I
Page 522 and 523:
When Prospects Object While you may
Page 524 and 525:
identifying his problem, and presen
Page 526 and 527:
2. Try to sell your professor on co
Page 528 and 529:
11.2 Types of Objections and How to
Page 530 and 531:
Don’t say anything negative about
Page 532 and 533:
When a prospect has a source object
Page 534 and 535:
car has what you want. At this poin
Page 536 and 537:
uild a deeper trust. [18] Just as w
Page 538 and 539:
14. [7] Felice Philip Verrecchia,
Page 540 and 541:
This is another opportunity to refe
Page 542 and 543:
Mention something specific that you
Page 544 and 545:
Do proof your thank-you e-mail or n
Page 546 and 547:
Thank-you notes are a reflection of
Page 548 and 549:
You understand how to use a follow-
Page 550 and 551:
3. A prospect may object at any tim
Page 552 and 553:
salesperson who continues to follow
Page 554 and 555:
Relationship selling doesn’t work
Page 556 and 557:
http://www.bestsampleletters.com/sa
Page 558 and 559:
Web site so unique is that you can
Page 560 and 561:
a negative impact on the company’
Page 562 and 563:
6. Imagine that you are a sales rep
Page 564 and 565:
28. [22] Tamara Monosoff, “Focus
Page 566 and 567:
asking customers what they think ca
Page 568 and 569:
(scores of 7 to 8), reflect poorly
Page 570 and 571:
14. [8] Rob Markey, Fred Reichheld,
Page 572 and 573:
Plan your route. Even though you pr
Page 574 and 575:
1. Assume you just accepted a job o
Page 576 and 577:
You can identify ways to add value
Page 578 and 579:
2. Identify someone who already wor
Page 580 and 581:
unstructured, and sometimes unpredi
Page 582 and 583:
his insights to help you be success
Page 584 and 585:
Procurement or product development
Page 586 and 587:
Figure 14.3 Activities of Salespeop
Page 588 and 589:
Poor planning. Avoid getting caught
Page 590 and 591:
Being successful in sales doesn’t
Page 592 and 593:
one of the components of the compen
Page 594 and 595:
draw. This is an advance against fu
Page 596 and 597:
some performance KPIs and conversio
Page 598 and 599:
KPI Name Calculation KPI Goal Avera
Page 600 and 601:
Activity Color (Red, Yellow, Green)
Page 602 and 603:
Activity Comments Time to complete
Page 604 and 605:
[10] Data from Gerald L. Manning, B
Page 606 and 607:
[32] Jim Kahrs, “Sales Compensati
Page 608 and 609:
passion and desire he played with,
Page 610 and 611:
It may seem counterintuitive, but t
Page 612 and 613:
It’s virtually impossible to be s
Page 614 and 615:
3. Assume you are a designer and yo
Page 616 and 617:
2005,http://kansascity.bizjournals.
Page 618 and 619:
find the right internship to help y
Page 620 and 621:
Your campus career center and facul
Page 622 and 623:
eight hours for every twenty-four-h
Page 624 and 625:
Professional Organization Informati
Page 626 and 627:
8. [5] Kim Richmond, Brand You, 3rd
Page 628 and 629:
7. Is it possible for an employer t
Page 630 and 631:
sites and review the mission, event
Page 632 and 633:
15.1 The Power of Entrepreneurship
Page 634 and 635:
Approximately 75 percent of new job
Page 636 and 637:
These facts reflect the importance
Page 638 and 639:
Tech-savvy teenagers are starting o
Page 640 and 641:
Best Social Entrepreneurs View the
Page 642 and 643:
View Entrepreneur magazine’s list
Page 644 and 645:
2008, http://www.america.gov/st/bus
Page 646 and 647:
43. [40] Scott A. Shane, “Failure
Page 648 and 649:
a business plan are standard. The f
Page 650 and 651:
Private investors may want to have
Page 652 and 653:
When you present your business plan
Page 654 and 655:
Entrepreneur: Noah Lehmann-Haupt Ho
Page 656 and 657:
Entrepreneur: Jeremy Bloom Article:
Page 658 and 659:
Resource Name and Web Site Descript
Page 660 and 661:
Resource Name and Web Site Descript
Page 662 and 663:
You can describe the impact that en
Page 664:
3. Free market system is an economy
show all

The Power of Selling, 2010a

Create successful ePaper yourself

Delete template?

Save as template?