Lesson #4

Entrepreneurship & Sales (Consultative Selling)

Lesson #4

32問 • 1年前Entrepreneurship & Sales (Consultative Selling)

問題一覧

Sales Management is the process of developing, planning, monitoring, and controlling the entire process of selling your company’s goods or services. It also concerns recruiting, training, and supervising your sales force and covers all pre-sales, sales, and post-sales activities.

True

Sales Management Components : Without having a clear ________ your sales efforts will be fruitless. To know what resources and specialists your business may require, you should set up a sales process and plan a series of activities at every stage of your sales funnel or sales pipeline. This can be done for either the whole company or in regard to individual brands, goods, or services. A sales funnel is a powerful analytical tool, if designed with a data-first approach. It describes a single customer’s journey through 5 steps: awareness, interest, consideration, decision, and — the most desired stage for all businesses — purchase.

Strategy

A sophisticated strategy isn’t worth a penny without being implemented. You need the team on paper to come true. People are the stumbling block that separates average companies from the best players in the market.

Operations

Sales Management Components : It’s not only that sales reps bring you revenue — they are your brand’s ambassadors. Salespeople directly deal with: ∆ They build a bridge between what the client needs and what your company can offer

Lead Conversion

Sales representatives initialize referrals and help build customer loyalty.

Business Growth

Their connections with customers shouldn’t be under-evaluated. Remember that a 5% increase in retention rates may boost profits by 25%

Client retention

Sales Management Components : ________ concerns either KPIs and sales metrics. A key point here is to bring actionable insights that can be further used in the sales strategy. The following effectiveness indicators are usually used by most sales managers: Total revenue Revenue growth rate Revenue distribution by sources Revenue distribution by representatives Average conversion rate Sales-to-date Average purchase value

Analysis

Sales Management Process : To manage the process, you need to have a sales roadmap. With it, it’s possible to track the reps’ ongoing performance and timely determine whether comprehensive assistance is needed to achieve the goals.

Setting Goals

Sales Management Process : If you build team members’ competencies, you’ll boost employee retention and increase employee lifetime. Don’t become too experimental, however. Use good old methods of employee retention the ones that have been tested by generations of managers: • Set SMART goals. A never-ending pursuit of unattainable results is exhausting and leads to emotional and professional burnout. • Appreciate personal contribution. Gen Z are not the ones who will wait for changes, they want to lead them. If you value talent, be ready to give them enough space for initiative and decision-making

Motivating the team

Sales Management Process : • Build trust. Let each team member see the big picture and go over plans with your people. Share growth-hacking insights, corporate strategic goals, and how the company’s doing overall. If there are some issues, communicate these. • Encourage high-performance culture. Cultivate a results-based work environment approach rather than just a work-to-do-work approach.

Motivating the Team

Sales Management Process : For every decision you make or insight you speak, put numbers in front. Use essential software, create sales dashboards, and deliver comprehensive sales reports. Make data integrated and visualize where relevant. Using automation in your sales reporting will prevent: • Revenue inconsistency • Poor data access • Decision-makers being overloaded with irrelevant and outdated information.

Evaluating and Reporting

Effective Sales Management Tactics : FIND THE RIGHT PEOPLE • Of course, staffing is a responsibility of the HR department. But for the manager, it’s crucial to translate vision and requirements to future employees to hire the right people. • The “right” doesn’t mean “the best”, though. Don’t look for Jack of all trades. Overloaded job descriptions are not effective. Define 2 or 3 key points that are relevant and go ahead hunting future sales reps.

True

Effective Sales Management Tactics Avoid “One-Size-Fits-All” Decisions • Whatever you manage, people or processes, avoid oversimplification and too much extrapolation. • What works in crisis may not work when the growth starts, and vice versa. Be flexible and an out-of-the-box thinker.

True

Effective Sales Management Tactics Hire Specialists for Different Roles • If your business grows, you’ll have to divide responsibilities. One employee can’t combine several roles. • As soon as you feel your workers can’t cope with the amount of work and tasks they get hire more professionals.

True

Effective Sales Management Tactics Contribute to the Growth of Each Sales Representative • Best salespeople bring your company the most deals thanks to their experience, personal qualities, luck, or all three at a time. But if the team’s imbalance grows rapidly, you get a lot of delayed risks: • Inner tension • Lack of motivation • Irreplaceable employees.

True

The salesperson should use a six-step selling process. 1. The Pre-approach 2. The Approach 3. The Presentation 4. The Objection 5. The Close 6. The Follow up

True

Sales Stages : • Before a salesperson shows a customer a product, he or she must carefully prepare for the interaction with the customer. This preparation, which includes gathering information about a potential customer, learning about the product(s), and preparing to meet the customer, is called the _________

The Pre-Approach:

Sales Stages • The _________ aims to promote better understanding of both the customer’s needs and the product the salesperson is selling. In a situation in which a salesperson identifies a company to approach about a product or service, the _________ entails learning about the business’s history, what the business does, what its mission is, who the business’s competition is, what its concerns are, and what its current needs are.

Pre Approach

The _________ is the first personal interaction a salesperson has with a prospective customer in the selling process. This step entails making a favorable impression with the prospect, gaining the prospect’s attention, and establishing rapport.

The Approach

Sales Stages : Rapport is a trusting relationship or connection between two people. Without these factors in place, the probability of making a sale is low. Salespeople may know and understand their products, but if they can’t relate well to their customers, the customers will most likely not want the products that are for sale.

The Approach

Sales Stages : • Take the first step! People are always more at comfort when they’re approached by a friendly person. Try using the GNAP technique, combined with a smile and a solid handshake, when you introduce yourself. GNAP stands for greeting, name, affiliation, and purpose. G: Greeting—“Hello” N: Name—“I’m Jhon…” A: Affiliation—“…with ABC……” P: Purpose—“I hear you’re looking for a new mower that will make your yardwork go faster.” Or “What can I help you with today?” Or “Thanks for your time. When this new mower came on the market, I knew you’d want to see it.”

True

• The sales _________ or demonstration is the point in the selling process where the salesperson shares the features, advantages, and benefits of the product.

The Presentation

Sales Stages : The _________ is the “meat” of the sale. It is also the point in the process where it is vitally important that the salesperson fully understand the product and how it relates and applies to the prospect’s needs.

The Presentation

Sales Stages : • After the presentation, and sometimes during the presentation, the customer will ask questions or will make statements about why he or she may not want to purchase the product. • A question or statement of this type is called an _______. ________ are a common part of the selling process.

The Objection

Sales Stages : • A customer generally doesn’t tell a salesperson straight out of the intention to purchase a product. • The salesperson must ask for the sale. The process of asking a prospect for a sale is called closing.

The Close

Sales Stages : • For an in-person sale, especially of a high-dollar item, the salesperson should always ________ to ensure that the customer is satisfied with the purchase and not experiencing any problems. Making the effort to ________ with the customer sends the message that the salesperson and the business care about the customer and his or her experience. It also helps establish a long-term relationship with the customer. • Common examples of follow-up activities are a telephone call to the customer to check on how the product is performing, a thank-you note to the customer for the purchase, and a small gift sent on behalf of the company to thank the customer for his or her purchase and loyalty to the business.

The Follow up

Consultative Selling Methodology • Consultative selling is an investigative approach to sales. Rather than telling prospects what they need, you ask prospects thought-provoking questions that help them identify their own pain points. Ultimately, with a consultative sales approach, prospects will steer themselves into making their best decision. • When you have a consultative sales approach, you measure success by the impact you have on customers, the outcomes they’re achieving, and their success. You focus your messaging around this data, rather than your features and benefits. You never treat the customer as a number. Instead, you view yourself as a trusted advisor.

True

Consultative Selling Methodology : Here are some steps for Implementing a Consultative Sales Process: • Become a trusted authority through active listening and asking better questions • Conduct in-depth research to understand your customers • Lead the conversation • Come up with a tailored solution just for them

True

Consultative Selling Methodology Present Yourself as a Trusted Authority: • How do you present yourself as an expert and an authority in your area? 1. Back what you say with evidence 2. Embrace criticism 3. Offer real value using content

True

Consultative Selling Methodology Conduct in-depth Research: • Conducting in-depth research regarding your prospect could help you land lucrative deals. As such, you want to unearth as much information about your lead as possible, including: ✓The size of the company ✓The prospect’s target market ✓Their annual turnover or average sales size ✓Number of employees ✓Service offering or typical product ✓What makes your prospect tick

True

Consultative Selling Methodology Lead the Conversation: • Before you can meet a prospect, you can prepare a list of generic questions that can help you start the conversation. However, you must be able to think on your feet and ask relevant questions emanating from the prospect’s responses. ✓If your product is within the prospects’ price range ✓Have the prospects shown interest in your product? ✓Are they satisfied with their current vendor? ✓What is the biggest challenge the prospect is facing in their business at the moment?

True

Consultative Selling Methodology : • Building a tailored solution is the last step towards becoming a successful consultative seller. A tailored solution means that it is specifically customized to that customer and their exact needs, rather than a one-size-fits-all cookie cutter solution. • After you understand the prospect’s problems, immerse yourself in the challenge, and then show your product in action.

True

Lesson #2

Jay Jayel · 30問 · 1年前

Lesson #2