Selling Techniques

Elements of Business Skills

 

1.         What does selling technique mean to us? 

Selling techniques are stages that Sales person practices.  This is to enable the Sales person not only need to meet the customers need but also to check whether the product or services are relevant to the customers.             

2.         How many stages are there in selling technique? 

            Seven stages 

3a.       What is the first stage called? 

First stage is called Prospecting.  It is about finding the right potential buyer for what you are selling.  The question you have to ask yourselves is “Who is going to benefit most from this?”  If the potential buyer is a company, then you have to get in touch with the relevant department and person of the company.  If the potential buyer is for housewives then you have to go where the housewives are, for example, special washing liquid that not only washes but polishes any sort of texture of pots and pans.  It shines in the dark too.  

b.         What are the things you have to do in the first stage? 

You have to find out information about the companies or person’s you have chosen as potential buyers.  Find out about potential customers on-line.  Check on-line whether the product or services that you want to carry out could be similar to what you intend to sell.  If it turns out that the product or services are already in the market then ask yourself how different could your product or services be from the others. 

If you are working for a company and you have been tasked by your Supervisor to manufacture and then sell a product or services the best place you should approach is the Company’s Marketing Department.  If it is yourself then you have to do the findings yourself.   

You could also check with your friends, relatives or through other business acquaintances. 

Never start manufacturing products or start selling services unless you have thought about it.  You could think about it by putting yourself into the shoes of the customers.  This means you should think like the buyer.  For example, if I want to manufacture sports shoes, we know that there are many sports shop selling sports shoes, then how could yours be better than the others that will want people or sportsman to buy those pair of shoes.   

4a.       What is the second stage called? 

Second stage is called Original Contact.  This is the stage where you meet the person.  You persuade the person to meet you.  In return you need to give the person a gift.  For example, you manage to get a housewife who is willing to meet you and listen to the type of house repair services that you could provide; in return you need to give her free estimate of repair works and a 3 months free warranty.  This means that should any repair works becomes faulty within that 3 months period, any repair works that is carried out by you again is going to be free for the housewife.

b.         What are the things you have to do in the second stage? 

You have to seek permission or an agreement from the potential customer that he/ she or a group of buyers could meet you.  Upon agreement from the potential customers, you arrange with the potential customer the date for the meeting, venue and time of the meeting and send a reminder at least a day before the meeting date with an agenda so that the meeting is focus and the objectives of the two parties could have been met.  You need to remember that an opportunity is only given to you once.  So you need to go prepared and know the type of product or services that you are going to sell to your potential customers is well prepared.  Bring along with you gifts or sample of your products for your potential customers.  It is thank them for taking their time in meeting you and also to generate awareness of your products or services that your company and you could be providing them. 

5a.       What is the third stage called? 

Third stage is called Qualification.  It about finding out whether the customer is of your choice.  You need to find out who they are, what they do, what they have, and what they need.  Remember that the potential customer would be asking the same set of questions you ask them too.  So be ready and be aware of what you are telling them or showing them too. 

b.         What are the things you have to do at the third stage? 

You need to do your homework by finding out more information about your potential customer; you will then need to prepare the specific questions you will be asking your potential customers.  The more specific your questions are to them and good answers given to them, the greater the potential you could have them to be your potential customers and them buying the product or services from you.  Do the same when they ask you questions too.  Be sharp in your answers and never say “Maybe” or “I think that it is possible”.  Your answers provided to your potential customers are important.   

Assuming that you found a potential customer who is your Big Catch but you really cannot get along with the potential customer, would you think you should provide your sales to the Big Catch?  You need to consider the Big Catch carefully because in the long run if the ability to work closely cannot be sustained, it is better not to carry on because becoming enemies is not good for you.    

6a.       What is the fourth stage called? 

Fourth stage is called Presentation.  Your presentation of your product or services requires you to go for the meeting well prepared.           

b.         What are the things you have to do at the fourth stage? 

Make a list of potential frequently asked question, list the type of benefits they could be receiving from you upon them agreeing to buy your product or services.  Always select your spoken words carefully so that you do not offend them and also to encourage them to buy your product or services with confidence.  Never attend a meeting unprepared. 

7a.       What is the fifth stage called? 

Fifth stage is called addressing potential customers concerns.  At this stage your potential customers would give some form of negative feedback. 

b.         What are the things you have to do at the fifth stage? 

When you should receive any form of negative feedback, always provide an alternative answer/ solution.  For example, you are selling a quality colour paint that not only prevent fungus from growing and shine but the colour can last for ten years without fading, but your choice is limited, then you should convince them why they could opt for your colour.  Perhaps, they want colour green but you do not have it.  You propose colour beige.  Then you have to explain the benefits of selecting beige because it makes your office space looks bigger, brighter and more professional and approachable.   

Assuming your potential customer say’s that he/ she needs to think about it, then your chances of having them returning to you is greater.  But on the spot ask them, what is it that they need to think about so that you could help them to get a solution for them.  Remember that if you could provide a good solution for them the chances of them buying your services is going to be much greater.    

8a.       What is the sixth stage called? 

Sixth stage is called closing the sales.  If you have followed through all the five stages of things that you need to do, the chances of you having the potential customer to buy your product or services is going to be happen. 

b.         What are the things you need to do at the sixth stage? 

Do not pressure the potential customer from buying your product or services.  Stay calm and cool.  Always smile and be polite.  A caring sales person who knows how to behave himself or herself and use positive words with positive action would be successful.  You must be genuine in your action.  Body language at any level of the selling technique is crucial.  Potential customers can tell whether you are genuine in your approach towards them or just putting up an act to close a sale. 

9a.       What is the seventh stage called? 

Seventh stage is called getting referrals.  It is about recommending their contacts to you and for you to approach them. 

b.         What are the things you have to do at the seventh stage? 

When you close the sale with your potential customer, ask them politely to recommend you other potential customers who they might think require your products or services.  Sales conducted by word of mouth are beneficial to you and to the other potential customer too.   

10a.     Case study:  Group work           

A Sales Executive successfully convinced the Managing Director of Company C to open a new Music School X.  The Sales Executive was then promoted to become the Music School X Principal.  Music School X is a branch of Company C.  Company C specializes in making piano. 6 months later Managing Director of Company C called for a meeting with Music School X Principal because the school was not able to breakeven.  There were music students who joined the Music School but the student fees were not enough to cover the Music School X expenditure.  Music School X Principal earlier in his proposal promised Managing Director C that the Music School X breakeven within 6 months from the date it opened.  Managing Director of Company C was extremely disappointed.  Did the Sales Executive do his homework well before convincing the Managing Director of Company C to open the Music School X?  What would you think could have happen to the Music School X Principal? 

b.         Identify which of the following stage is missing from selling technique: 

Prospecting, Qualification; Addressing Concerns; Closing the Sale and Getting Referrals 

The missing stages are: ______________________________________________

c.         Reflection 

(i)                 Could you think of the stages of selling techniques like a circle? 

(ii)               Should you follow the stages used in selling techniques? 

If your answer is Yes (or) No, you need to explain your answer too.