The Power of Selling, 2010a

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Power Wrap-Up Now that you have read this chapter, you should be able to understand how to approach a prospect. You understand the importance of your first impression. You learned the elements of making contact. You can describe the role of an elevator pitch in the approach. You can list the dos and don’ts of making contact via phone and in person. You can describe the different types of sales approaches. You can understand how to create an elevator pitch for your personal brand to use during your approach for networking, interviews, and other contacts. TEST YOUR POWER KNOWLEDGE (ANSWERS ARE BELOW) 1. Name the six Cs of the sales approach. 2. Identify one way of demonstrating active listening. 3. What is the 70/30 rule of listening? 4. What is an elevator pitch, and why is it important in a sales approach? 5. Why should you prepare a script for your opening statement for a telephone approach? 6. Describe an effective e-mail approach. 7. Why are social networks an effective way to approach prospects? 8. List two opening lines you should avoid in a sales approach. 9. Describe the customer benefit approach. 10. What is a gatekeeper? 11. What kind of information should be included in the elevator pitch for your personal brand? POWER (ROLE) PLAY Now it’s time to put what you’ve learned into practice. The following are two roles that are involved in the same selling situation—one role is the customer, and the other is the salesperson. This will give you the opportunity to think about this selling situation from the point of view of both the customer and the salesperson. Read each role carefully along with the discussion questions. Then, be prepared to play either of the roles in class using the concepts covered in this chapter. You may be asked to discuss the roles and do a roleplay in groups or individually. Saylor URL: http://www.saylor.org/books Saylor.org 439
A Good Sport Role: Operations manager, Trident Office Equipment You are responsible for all the operations for a major office equipment distributor. Trident counts hundreds of businesses among its B2B customers. As part of building relationships with customers, the company entertains its B2B customers by taking them to professional sporting events, dinner, and other activities. The company is currently a season ticket holder for the local professional football team. However, given the state of the economy, you are reconsidering the company’s investment in season tickets. Your time is valuable to you, so you don’t want to take the time to meet with a sales rep from each of the teams. What will you say when a sales rep from one of the sports teams approaches you? What type of approach will you find compelling enough to take the time to meet with a sales rep? Role: Sales rep for the stadium that hosts the city’s minor league baseball team You have qualified your prospect as someone who is responsible for the decisions for purchases of season tickets to entertain customers. While he has traditionally purchased season tickets for the local professional football team, you believe that you can approach him with an opportunity to save money and have an excellent opportunity to entertain clients and support the local baseball team. The baseball season is longer and offers more opportunities for Trident to entertain its customers, and the cost per game is less for your baseball tickets than what Trident has been paying for football tickets, although the total cost for season tickets is greater. You are preparing your approach to make an appointment on the phone. What will you say to approach this prospect? What type of approach will you use? What is your elevator pitch for the season tickets? PUT YOUR POWER TO WORK: SELLING U ACTIVITIES 1. Ask your professor or another professional to share his elevator pitch with you. Deliver your elevator pitch to him and ask him to critique it. 2. Visit your career center and ask one of the counselors to provide feedback to you on your elevator pitch. Saylor URL: http://www.saylor.org/books Saylor.org 440
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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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Types of B2B and B2C Selling When y
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outside salesperson. Inside salespe
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Title Description Industries manage
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Selling Power Magazine “50 Best C
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You’ve now seen how B2B, B2C, and
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want to focus on making a contribut
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14. [7] Justin Sorkin, “AT&T Urgi
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lasting impression. If you think yo
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Figure 2.8 Standard Résumé Incorp
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Now, it’s time to put your brand
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Step 4: Write Your Bullet Points On
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Consider the difference between the
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1. First paragraph. Introduction an
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Step 3: Write Your Cover Letter Wit
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Saylor URL: http://www.saylor.org/b
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KEY TAKEAWAYS Your résumé and co
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Now it’s time to put what you’v
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The Power of Building Relationships
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ather than what you want to sell he
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single man could and should be nurt
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For example, many companies offer l
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Trust Me “The check is in the mai
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No one likes to deliver bad news. B
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according to Tim Conner, sales trai
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irthday celebration went, or even j
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A solid relationship is essential,
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29. [24] Tom Reilly, “Relationshi
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than your friends? Do you speak to
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opinions in their decision making.
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Expressives are creative and can se
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thanks.” It’s important to note
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16. [13] Barton A. Weitz, Stephen B
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providing an excellent method to ne
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Jon: Have you talked to anyone at U
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down an otherwise promising job can
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Search the social networking job bo
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7. [3] Meredith Levinson, “How to
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Role: Pharmaceutical sales manager
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7. Be professional; focus on facts
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eliefs and moral conduct. [6] Your
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marketing at the University of Notr
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Ethical Dilemmas in Business Not al
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just like personal ethics, mean doi
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attached. You might miss the opport
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Religion Values provide your person
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You learned about creating your per
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These ten things are the principles
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Ludwig, author ofPower Selling, exp
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At some point in your selling caree
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o o Simon Cowell Angelina Jolie 4.
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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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Page 416 and 417: 1. Take the listening quiz by click
Page 418 and 419: 19. [12] Sharon Drew Morgan, “Thi
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Page 430 and 431: 9.4 Overcoming Barriers to Success
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Page 436 and 437: Your elevator pitch is critical bec
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Page 450 and 451: EXERCISES 1. You are preparing for
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Page 454 and 455: EXERCISES 1. Review the clothes tha
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Page 484 and 485: 1. Learn the five steps of a succes
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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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