The Power of Selling, 2010a

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A solid relationship is essential, especially when delivering bad news. Always be honest and timely with customers when you have to communicate news that might not be what they want to hear. They will respect you and trust you for it. The win-win-win is when all parties in a relationship win: your customer, you, and your company or organization. Networking, the art of building mutually beneficial relationships, is an indispensable business tool. EXERCISES 1. Identify a situation in which a salesperson has developed a relationship with you. Do you trust her more since you know her better? Identify at least one way she puts your needs first in the relationship. 2. Name a situation in which a salesperson provided you with information to make your purchasing decision. Did you trust him to provide this information? Why did you trust him? 3. Think about a situation in which a salesperson underpromised and overdelivered. How did your perception of the salesperson and the company change because of your experience? 4. Go to http://www.linkedin.com and create your profile. Then use the search box to search groups and search for “The Power of Selling.” Click on the “Members” tab and search for members that you want to connect with and add them to your professional network. Click on the “Discussions” tab to begin or join into a discussion. 5. Research professional organizations that might be of interest to you that have a chapter on campus or in your local community. What is the mission of each organization? What events are scheduled soon? How can you become a student member of the organization? 6. [1] Jack Mitchell, Hug Your Customers: The Proven Way to Personalize Sales and Achieve Astounding Results (New York: Hyperion, 2003), 22. 7. [2] Jack Mitchell, Hug Your Customers: The Proven Way to Personalize Sales and Achieve Astounding Results (New York: Hyperion, 2003), 28. 8. [3] Claire Sykes, “Relationship Selling,” Surface Fabrication 12, no. 1 (January–February 2006): 58. 9. [4] Jack Mitchell, Hug Your Customers: The Proven Way to Personalize Sales and Achieve Astounding Results (New York: Hyperion, 2003), 16. 10. [5] Jack Mitchell, Hug Your Customers: The Proven Way to Personalize Sales and Achieve Astounding Results (New York: Hyperion, 2003), 20. Saylor URL: http://www.saylor.org/books Saylor.org 105
11. [6] Jeffrey Gitomer, “The Difference between an Account and a Relationship,” Long Island Business News, August 3, 2007, http://libn.com/blog/2007/08/03/the-difference-between-an-account-and-arelationship/ (accessed June 29, 2009). 12. [7] Jim Sullivan and Phil Roberts, Service That Sells! The Art of Profitable Hospitality(Denver: Pencom Press, 1991), 151. 13. [8] Howard Lax, “Fun, Fun, Fun in a Customer Experience Way,” Banking Strategies 84, no. 6 (November– December 2008): 64. 14. [9] “Johnson Controls Runs Boot Camp,” Heating & Refrigeration News 233, no. 6 (April 14, 2008). 15. [10] Tom Reilly, “Relationship Selling at Its Best,” Industrial Distribution 25, no. 9 (September 2006): 29. 16. [11] Demmie Hicks, “The Power of Consultative Selling,” Rough Notes 151, no. 7 (July 2008): 701. 17. [12] Cathy Berch, “Consultative Selling: Ask, Don’t Tell,” Community Banker 18, no. 4 (April 2009): 261. 18. [13] Tom Reilly, “Relationship Selling at Its Best,” Industrial Distribution 25, no. 9 (September 2006): 29. 19. [14] Brad Perriello, “Relationship—Selling at its Best,” Industrial Distribution 97, no. 9 (September 2008): 34. 20. [15] Cathy Berch, “Don’t Wing It,” Community Banker 18, no. 2 (February 2009): 18. 21. [16] Michael Gray, “How Do You Determine Customer Lifetime Value?” Profit Advisors, May 20, 1999, http://www.profitadvisors.com/busfaq/lifetime.shtml (accessed November 30, 2009). 22. [17] Claire Sykes, “Relationship Selling,” Surface Fabrication 12, no. 1 (January–February 2006): 58. 23. [18] SearchCRM.com, “CRM (Customer Relationship Management),”http://searchcrm.techtarget.com/definition/CRM (accessed November 30, 2009). 24. [19] Susi Geiger and Darach Turley, “The Perceived Impact of Information Technology on Salespeople’s Relational Competencies,” Journal of Marketing Management 22, no. 7 (August 2006): 827. 25. [20] Tom Reilly, “Relationship Selling at Its Best,” Industrial Distribution 25, no. 9 (September 2006): 29. 26. [21] “How to Use Golf as a Business Tool,” video, BNET, http://www.bnet.com/2422-13722_23- 323018.html (accessed July 27, 2009). 27. [22] Terry L. Brock, “Relationship-Building Skills Pay Off for Your Bottom Line,”Philadelphia Business Journal, June 12–18, 2009, 25. 28. [23] Andrea Nierenberg, “Eight Ways to Say ‘Thank You’ to Customers,” Manage Smarter, February 6, 2009, http://www.crystal-d.com/eight-key-ways-to-say-thank-you-to-customers (accessed July 3, 2009). Saylor URL: http://www.saylor.org/books Saylor.org 106
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This text was adapted by The Saylor
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helping you learn and succeed. In f
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Sales professionals (left to right)
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Andrew Sykes, Pharmaceutical Sales
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Chapter 1 The Power to Get What You
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Pearson-Bernard, the president and
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Mac and fries, and you always know
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Personal selling is a powerful part
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But the bigger story is the fact th
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understand the power of collaborati
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departments, according to Dennis J.
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At times, however, sales and market
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6. [4] Bureau of Economic Analysis,
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Chapter 6 "Why and How People Buy:
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Resource Description information. J
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Choosing a career direction and wri
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managed your costs and time. Every
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Now that you have read this chapter
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2. Write your personal mission stat
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garage in 1976. Jobs said, “I was
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Contrary to popular belief, speakin
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evealed that boomers are more likel
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many can put it all together.” [2
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phone?” No techno-talk, no slick
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A good salesperson does more than s
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18. [13] Margaret Norton, “Is the
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Toshiba to manufacture laptop compu
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Page 72 and 73: Figure 2.8 Standard Résumé Incorp
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Page 80 and 81: 1. First paragraph. Introduction an
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Page 84 and 85: Saylor URL: http://www.saylor.org/b
Page 86 and 87: KEY TAKEAWAYS Your résumé and co
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Page 90 and 91: The Power of Building Relationships
Page 92 and 93: ather than what you want to sell he
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Page 100 and 101: No one likes to deliver bad news. B
Page 102 and 103: according to Tim Conner, sales trai
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Page 108 and 109: 29. [24] Tom Reilly, “Relationshi
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21. [19] Julie Creswell and Landon
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44. [42] FedEx, “Company Informat
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Conduct, for example, explains when
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Family interests create a conflict
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documents related to that fact, led
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come face-to-face with these differ
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9. [3] Starbucks, Business Ethics a
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Selling Yourself versus Stretching
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You: Well, I’ve been trying to ge
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Figure 4.4Sample References Letters
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Now that you have read this chapter
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2. What influences your values? Mak
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has often been referred to as a sof
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The same thing can happen in a sell
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Figure 5.3 Letter of Apology from J
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you receive the check. Specificity
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Take notes. While it may seem like
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Figure 5.4 The Impact of Intonation
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Touch Space or proximity Dress Mul
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Touch neck: insecurity Crossed legs
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extra time to review before you sen
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EXERCISES 1. Choose an advertisemen
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22. [13] Patricia M. Buhler, “Man
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and established practices aren’t
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Etiquette Tips for Conversations, M
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The purpose of a business breakfast
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Now, we’re seeing a bit of a reve
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Don’t leave a long, rambling voic
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Proper etiquette is a necessity in
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10. [4] Kim Richmond, “Poll: Entr
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31. [25] Patrick Welsh, “Txting A
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An informational interview is exact
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Informational interviews are usuall
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Bring extra copies of your résumé
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Your interviewee will most likely s
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13. [8] “Informational Interviewi
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You are meeting with a potential cu
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and is best used for communicating
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The science of consumer behavior de
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what anyone did for a living, or if
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Although recovery will be going on
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to retailers such as Foot Locker, w
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and your decisions don’t put you
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Figure 6.7 Comparison of B2C and B2
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technology will not only be expensi
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The September 2009 issue of Vanity
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An individual such as a buyer, purc
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Content,http://www.associatedconten
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The Traditional View of the Seven S
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6. Evaluating proposals. After the
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world to solve the problem. This is
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Norm Brodsky is the owner of an arc
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Traditional Seven Steps of Selling
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Figure 6.10 Nutritional Information
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Source:http://www.thedailyplate.com
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Table 6.3 FAB in Action Product Fea
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The traditional B2B buying process
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15. [10] Bryan Eisenberg, “Buying
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40. [36] Bryan Eisenberg, “Want T
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Brand Positioning Point Feature Adv
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Choose a few work samples. Select s
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A word of caution: Your professiona
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6. [2] “Job Search: Back Up Your
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You are a salesperson for an advert
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Chapter 7 Prospecting and Qualifyin
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Saylor URL: http://www.saylor.org/b
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If you’re satisfied with his resp
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happens if the customer is not inte
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and prospecting for new customers.
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16. [13] Dave Dolak, “Sales and P
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good fit. Sometimes you aren’t ac
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1. Describe the ideal customer for
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It costs five times more to attract
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If you’re a member of the America
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Forget Google for a minute. It migh
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Database or Directory Good source f
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Business journals such as the Phila
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As a salesperson, you can use trade
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isn’t a qualified prospect. For t
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egin prospecting for another lead a
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latest Google search results based
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KEY TAKEAWAYS Prospecting takes c
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21. [15] Paige Palmateer, “Inaugu
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employment agencies. This is a fair
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you might or might not find later o
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Local business journals, like the P
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Business Directories and Databases
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sites to gather stats. Publicly hel
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3. When a customer says, “It’s
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9. There are several business journ
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service in order to make a decision
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Listing your goals in writing befor
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Sporting Goods, Dick’s Sporting G
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presentation. For instance, you mig
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the company also has a communicatio
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companies or people he has worked w
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13. [7] Marcel Sim, “Leveraging Y
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play MP3s, store a day planner, sur
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for instance—can often be a surpr
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question early on in the sales call
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8. [2] Mark Anthony, “The Psychol
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According to Gary Duncan, principal
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SMART objectives give you the power
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3. Assume you are a financial advis
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order. For example, Szaky knows tha
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2. Assume you are the director of d
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tool, in combination with five othe
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on your part. If one of your target
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SMEI http://smei.associationcareern
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Internships and professional organi
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Use networking sites like LinkedIn
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You can determine SMART precall obj
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TEST YOUR POWER KNOWLEDGE ANSWERS 1
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The Approach: The Power of Connecti
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Communication Customization Collab
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taste in shoes. As long as the appr
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you will read more about the dos an
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included fifteen-second audio spots
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7. [4] Brian Johnson’s Philosophe
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9.2 How to Start Off on the Right F
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Approaching by Telephone Establishi
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uilding up your wardrobe so that yo
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prospect’s name in the heading an
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new contacts: “I thought you migh
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stop by on Tuesday morning so we ca
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in the retail environment as it is
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Customers can’t seem to stop sayi
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1. Take the listening quiz by click
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19. [12] Sharon Drew Morgan, “Thi
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43. [36] Donna Siegel, “Relations
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fewer paper jams than any other cop
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contact you. She thought your compa
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ing out several products for custom
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move straight into a question or cu
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9.4 Overcoming Barriers to Success
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to go through the gatekeeper first.
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2. Imagine that you are a sales rep
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Your elevator pitch is critical bec
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ask the person for their business c
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Power Wrap-Up Now that you have rea
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3. Use your elevator pitch in a pro
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about to connect in an exciting way
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presentations to their prospect’s
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will you have to find a parking gar
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EXERCISES 1. You are preparing for
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to take off a jacket and tie than t
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EXERCISES 1. Review the clothes tha
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A good salesperson can read group d
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keeping an eye on group dynamics du
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When the five executives arrived, W
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It is also important to resist the
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salespeople who are starting out an
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won’t get read. [30] Don’t rely
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A cost-benefit analysis asks the qu
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through but (b) establishing a conn
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2008,http://www.completeselling.com
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36. [29] Geoff William, “The Perf
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prospect you have already met.) [4]
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You: So your IT people have regular
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In smaller sales, obtaining commitm
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unstated needs: situation, problem,
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1. Learn the five steps of a succes
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that shows how outsourcing your bac
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to make sure you understand and hav
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information you are presenting and
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a call to action that asks the pros
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Timing: When to Deliver Your Propos
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The most important ingredient of a
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18. [10] Kelley Robertson, “How t
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10.6 Selling U: Selling Yourself in
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Does this company deal in B2B or B2
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important to be honest when you res
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Interviewers often ask this questio
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Step 8: Prepare Your Wardrobe Your
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A job interview is like a sales pre
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18. [15] Kim Richmond, Brand You, 3
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PUT YOUR POWER TO WORK: SELLING U A
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Chapter 11 Handling Objections: The
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What Are Objections? Objections, al
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what you can deliver and by when. I
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When Prospects Object While you may
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identifying his problem, and presen
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2. Try to sell your professor on co
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11.2 Types of Objections and How to
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Don’t say anything negative about
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When a prospect has a source object
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car has what you want. At this poin
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uild a deeper trust. [18] Just as w
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14. [7] Felice Philip Verrecchia,
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This is another opportunity to refe
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Mention something specific that you
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Do proof your thank-you e-mail or n
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Thank-you notes are a reflection of
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You understand how to use a follow-
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3. A prospect may object at any tim
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salesperson who continues to follow
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Relationship selling doesn’t work
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http://www.bestsampleletters.com/sa
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Web site so unique is that you can
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a negative impact on the company’
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6. Imagine that you are a sales rep
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28. [22] Tamara Monosoff, “Focus
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asking customers what they think ca
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(scores of 7 to 8), reflect poorly
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14. [8] Rob Markey, Fred Reichheld,
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Plan your route. Even though you pr
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1. Assume you just accepted a job o
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You can identify ways to add value
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2. Identify someone who already wor
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unstructured, and sometimes unpredi
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his insights to help you be success
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Procurement or product development
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Figure 14.3 Activities of Salespeop
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Poor planning. Avoid getting caught
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Being successful in sales doesn’t
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one of the components of the compen
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draw. This is an advance against fu
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some performance KPIs and conversio
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KPI Name Calculation KPI Goal Avera
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Activity Color (Red, Yellow, Green)
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Activity Comments Time to complete
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[10] Data from Gerald L. Manning, B
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[32] Jim Kahrs, “Sales Compensati
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passion and desire he played with,
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It may seem counterintuitive, but t
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It’s virtually impossible to be s
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3. Assume you are a designer and yo
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2005,http://kansascity.bizjournals.
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find the right internship to help y
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Your campus career center and facul
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eight hours for every twenty-four-h
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Professional Organization Informati
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8. [5] Kim Richmond, Brand You, 3rd
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7. Is it possible for an employer t
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sites and review the mission, event
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15.1 The Power of Entrepreneurship
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Approximately 75 percent of new job
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These facts reflect the importance
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Tech-savvy teenagers are starting o
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Best Social Entrepreneurs View the
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View Entrepreneur magazine’s list
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2008, http://www.america.gov/st/bus
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43. [40] Scott A. Shane, “Failure
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a business plan are standard. The f
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Private investors may want to have
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When you present your business plan
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Entrepreneur: Noah Lehmann-Haupt Ho
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Entrepreneur: Jeremy Bloom Article:
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Resource Name and Web Site Descript
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Resource Name and Web Site Descript
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You can describe the impact that en
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3. Free market system is an economy
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