The personal selling process involves seven steps that a salesperson must go through with most sales. The Boomerang method (also called the translation method), is so called because the object raised by the prospect often comes back at him as a valid reason for buying the product. Of course, this way also has the added advantage of having the prospect agree to sit for the meeting, which may make them more receptive to the product than if the salesperson had followed the Cold Calling for Presentation approach. The more information about a prospect that a salesman has, the better able he is to develop an approach and presentation that precisely communicates with the prospect. Sales leads can come from many sources including: i. However, for a large percentage of salespeople lead generation consumes a significant portion of their everyday work. Salespeople are rarely able to make the sale unless resistance is overcome. Gaining this information can help prepare the salesperson for the sales presentation. It is a rare instance when a salesperson does not receive resistance from a prospect. A salesman should try to close at several points during the presentation, because the prospect may be ready to buy. Direct Close – It is a simple technique and is most appropriate if the buyer is showing strong positive buying motives. Yet the most successful salespeople will say that closing the sale is actually fairly easy if the salesperson has worked hard in developing a relationship with the customer. The question method, under which the salesman asks questions regarding objections, so that further analysis be made. The sale must be closed only when the salesman knows that the customer is prepared for it. For a creative and persuasive salesman, the process of selling really starts when the prospect raises objections. Identifying the Prospective Buyer (Prospecting and Qualifying): The first stage of personal selling process involves identifying potential customers. 7 Steps of the Selling Process Starts from Here Selling Process Step # 1. This problem has been solved! With this knowledge the salesperson will almost always be presented with more selling opportunities. 1. Additionally, the meeting is not just about the seller discussing the product, rather much more takes place during this part of the selling process including: i. ii. If a prospect has been qualified or if qualifying cannot take place until additional information is obtained (e.g., when first talking to the prospect), a salesperson’s next task is to prepare for an eventual sales call. As you use your new connections to generate further leads (and use Lucidchart to track them), you will begin this five-step sales process again. This step entails making a favorable impression with the prospect, gaining the pros- pectâs â¦ In this stage, you find potential customers and determine whether they have a need for your product or serviceâand whether they can afford â¦ The salesman cannot call on any buyer at random for different types of goods. The first step in personal selling is to identify the potential buyer. Thus, the close is the most important part of the selling process since all the efforts and presentation comes down to this moment. He should properly greet the buyer and give a good start to the conversation. For example, offering free software for signing up for a demonstration of another product. Personal Selling Process – Generating Sales Leads, Qualifying Sales Lead, Preparation for the Sales Call, Sales Meeting, Handling Buyer Resistance and a Few Others, Personal Selling Process – 7 Important Stages: Prospecting, Pre-Approach, Approach, Demonstration, Handling Objection,Closing and Feedback. Additionally, having more information about a prospect allows the salesperson to be more confident in his/her presentation and, consequently, come across as more knowledgeable when meeting with the prospect. Prospecting and Qualifying: The process of prospecting is very crucial in selling any kind of products as this involves the process â¦ A better approach for most salespeople is to contact a prospect to set up an appointment in advance of the sales meeting. Welcome to EconomicsDiscussion.net! This information is used in selecting an approach and in creating a sales presentation. The pre-approach is the second step in the personal selling process. This step consists in finding and analysing information regarding prospects specific product needs, current brands being used; feelings about other available brands and personal characteristics. Prospecting and qualifying: âProspecting and qualifyingâ are the first steps the personal selling process. Salespeople can attempt to gather this information through several sources including- corporate research reports, information on the prospect’s website, conversations with non-competitive salespeople who have dealt with the prospect, website forums where industry information is discussed, and by asking questions when setting up sales meetings. it sets the â¦ Salesperson handles such objections skillfully by clarifying their objections and convinces the customer to make purchase. In addition to writing informative articles, he published a book, "Modern Day Parables," in 2008. The selling cycle breaks down neatly into six steps. The profile is often based on the profile of previous customers. Prospect Initiated – Includes leads obtained when prospects initiate contact such as – when they fill out a website form, enter a trade show booth or respond to an advertisement. The salesmen would like to visit these prospective customers for the purpose of sales. v. Alternative Close – This technique provides the customers with alternatives with regard to the product like a black or red colour one or payment in cash or on credit basis. While the basic five steps of the sales process are simple, your personal sales process â¦ 1. The salesman, while using any of these methods of handing objections, must be sure that he is applying the right method in such particular situation. The following are the two major activities under prospecting â 1. “He who wins the last battle wins the war” is truly applicable to a salesman foreclosing in the test, of every salesman. Not all sales leads hold the potential for becoming sales prospects. They admit to each other that they both are right, but there is the other side of the problem to consider also. To overcome resistance, salespeople are trained to make sure they clearly understand the prospect’s concern. It is also the point at which many customers are unwilling to make a commitment and, consequently, respond to the seller’s request by saying no. There are several stages involved in the process and a salesman has to understand all the stages in the process to make the process more effective. It is a method of compromise because both salesman and prospects “bend” a little. This part of the process is a numbers game, and the sales representative has to contact many people. Marketers establish booth at trade shows and exhibitions, get the names of the prospects from existing customers, cultivate referral sources such as – dealers, suppliers, sales representatives, executives, bankers etc. For certain sales positions, locating leads may not be a major task undertaken by the sales force as these activities are handled by others in company. It is a method of compromise because both salesman and prospects “bend” a little. The sales rep should focus on the features and benefits of the product or service during this part of the process. You would be concerned with a sales process if you play the following roles in a business, non-profit, or government organization: Salesperson: You are responsible for selling a product, a service, or an idea to another human-being, in a series of live-action selling â¦ See the answer. Preparing for the Sale 4. Action Close – Here the sales person takes an action that will complete the sale like negotiation for supplying financial assistance to the prospects. If the customer is happy, the sales rep can also try to obtain additional referrals from the customer. Following Up. This is the stage where the salesmen get an opportunity to make presentations about the product to the prospective customers. Hence identifying the right prospect is essential as it determines the future selling process. Want to read all 13 pages? There are certain objections which can be anticipated and their answers formulated before the sales interview takes place. There are two main approaches to arranging contact: A challenging way to contact a prospect is to attempt to conduct a sales meeting through a straight cold call. More likely, sellers will not be in a position to qualify leads until they establish contact with a lead, which may occur in activities associated with either Preparation for the Sales Call or The Sales Meeting. Such referrals may come at no cost to the salesperson or, to encourage referrals, salespeople may offer payment for referrals. Personal selling or salesmanship itself is a process. Find the prospects or the potential customers 2. iii. Itâs the salesperson who reaches out to customers in order to sell the product. Building a sales process is absolutely necessary to your companyâs success, and is perhaps the most important thing you can do as a sales â¦ Content Guidelines 2. This method is useful in meeting excuses that are not strongly backed by facts. iv. Compensation method, which merely acknowledges the validity of an objection, but points out some advantage that is supposed to compensate for the objection, such as lower price, or special care of the product. At this stage the salesperson should properly approach the prospects. iv. A sales process is a set of repeatable steps that your sales team takes to convert prospects into customers. The _ step in the selling process is to generate a list of potential customers and assess their potential. Gift Close – The salesperson may provide an added incentive on immediate purchase. On the basis of this evaluation, names of some prospects may be deleted, while others are deemed to be acceptable and may be ranked in relation to their desirability or potential. Before publishing your Articles on this site, please read the following pages: 1. The steps of personal selling are also knows as the sales process or cycle. The sales person assures about delivery at right time, proper installation, after sales service. The next step to prospecting and qualifying is pre-approach. In some cases, a sales lead can be qualified by the seller prior to making first contact. Cannot be Contacted – Some prospects may fit the criteria for being a prospect but gaining time to meet with them may be very difficult (e.g., high-level executives). Approaching the Consumer 3. For instance, this can be done through the use of research reports, such as an evaluation of a company’s financial position using publicly available financial reporting services. Effective prospecting requires a â¦ Presenting the Product – The salesperson will stimulate a prospect’s interest by discussing a product’s features and benefits in a way that is tailored to the needs of the customer. Demonstration may also be given about the product so that the prospect gets more involved. The steps are what a salesperson has to go through to sell a particular product or service. Question: Question 2 (2 Points) The First Step In Personal Selling Process Is Prospecting Approach Preapproach Presentation. Prospecting and Evaluating 2. Marketers tap different sources to identify the prospective customers. Most people involved in selling acknowledge that this part of the selling process is the most difficult. There are many sources from which potential customers can be found: observation, social contacts, trade shows, commercially-available databases, commercially-available mail list and cold calling. The activities apply to all forms of selling and can be adapted to most selling situations (including non-product selling such as – selling an idea). In absence of sales resistance the salesman is merely an order booking clerk. The salesmen require a high degree of patience to make this stage successful. Beyond Step 1, this process lines up nicely with the steps you should (or will) follow in seeking a job. Understanding these seven steps can help improve your individual sales or the sales of your company. They admit to each other that they both are right, but there is the other side of the problem to consider also. vi. It begins before you make contact with a prospect and often continues long after the sale is finalized. Personal selling or salesmanship itself is a process. He may practice his sales presentation and do anything necessary to prepare for it. Often it is important that, upon first greeting the prospect, the salesperson spend a short period of time in a friendly conversation to help establish a rapport with the potential buyer. In some cases, the sales representative will have to overcome objections by the customer. For every â¦ If there were any issues with the product, the sales rep can work with the customer to get them resolved. And thatâ what, this first step towards a winning personal selling â¦ Canvassing – Here leads are gathered by cold-calling (i.e., contacting someone without pre-notification) including in-person, by telephone or by email. iii. There are other objections which cannot be anticipated because they are usually related to the procedures of a particular business. The salesman may employ a “trial close” by asking questions that assume the prospect will buy the product, e.g. Market Monitoring – Through this approach leads are obtained by monitoring media outlets, such as – news articles, internet forums and corporate press releases. TOS4. The first step in the process involves prospecting. The 5-step sales process and Lucidchart. Personal selling is a form of selling that many companies rely on heavily to promote and move their products. The process of determining whether a sales lead has the potential to become a prospect is known as – “qualifying” the lead. One type of approach is based on referrals; the salesman approaches the prospects and explains that an acquaintance as associate or a relative has suggested the call. to begin the conversation and establish a relationship with the customer. A few of the effective closing techniques are: i. Share Your PDF File
Educate them in order to figure out if they are valid customers Marketing, Products, Process, Personal Selling, Process of Personal Selling. The information about the prospective customers relates to their buying habits, their tastes and preferences, their decision making process, behaviour pattern and personality traits. vi. Prospecting for customers is the first step to selling. The first step in the sales process is to discover the names of prospects from several sources such as the company’s sales records, consumer’s information requests from advertisements, other customers newspaper announcements, public records, telephone and trade directories, who’s who, yearbooks, and trade association list. 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