Presentation for distributors › sites › default › files › files › Selling the...The purpose of this presentation 1) Clarify what the marketing/sales duties are 2) Define

Selling: the system

Presentation for distributors

The purpose of this presentation

1) Clarify what the marketing/sales duties are2) Define the sales prerequisites3) Systemize the selling process4) Improve on selected techniques:

a) Persuasionb) Using questionsc) Objection handlingd) Communicatione) Presentationf) Benefits centred approach

Who does what?

Defining the marketing and sales duties

The purpose of a business is to create and keep customers

Peter Drucker

Cycle

No Maybe Yes Let’s do this again!

Marketing After salesservice

Sales

Create Customers Keep Customers

What does marketing do?

1. Search the marketplace2. Register the prospects3. Identify best prospects4. Develop the message that triggers (call to action)

the prospects5. Spread the message to the prospects6. Processes the prospects reaction to the trigger7. Prospect is handed over to sales

Is persuading someone to have a commercial transaction with you.

Conclusions

• Marketing: funnel the pipeline for sales

• Sales: transforms leads to yesses

• The focus is on customers who stick around and create new ones

Do people buy with emotion or logic?

Defining the sales prerequisites

People buy on emotion, and then justify their decision with logic.

Based on study by Antonio Damasio

Logic and Emotional Thresholds

Love the product

Trust and connect with

you

Trust and connect with

your company

Action threshold

Pain threshold

Two types of certainty

Logical certainty• Intellectual• Actual facts• Figures• Benefits• Long-term value

proposition• All relating specifically to

the prospect

Emotional certainty• Gut feeling that something

must be good• Creates craving that must

be fulfilled• Projection using and

feeling good with the product

Conclusion

Order of subject

ProductSalesperson

Company

Certainty build up

1. Logic

2. Emotions

Threshold

1. Action

2. Pain

What is a process?

Systemizing the selling process

If you fail to plan, you are planning to fail!

Benjamin Franklin

Sales lead

Sales pitch: Product Elimination

Build rapport Information gathering

Introduction

Sales pitch: Salesperson

Ask for saleStop (>3 loops)

Increase the pain

Lower the action threshold

Sales pitch: Company

Pause Gauge

Pause

Pause

Pause

Gauge

Gauge

Pause Gauge

Deal

Objection handling

Lowering the action threshold

1. Money-back guarantee2. Lowering the quantity3. Cooling off or rescission period • Sign now but have X days to revoke the contract

4. Moral support• I will hold your hand every step of the way• We pride ourselves on long-term relationships

5. Refocus on the positive outcomes• XXX, let me ask you honest questions: what is the worst that can

possibly happen here? Will go bankrupt? Exactly. Of course you wont. And if the product delivers on its promises, like we both believe…

Buy-in Gauge

Buy-in Logical Emotional

Product

Salesperson

Company

Action Threshold

Pain Threshold

Tip

• You are likely to loop 3 times, so prepare a 3 versions of the pitch to:

Introduce you Introduce your company Present the product

Stay on track

You are in control

Irrelevant topicsthat are not useful to the sale

Irrelevant topicsthat are not useful

to the sale

Don’t let the discussionveer of the sales path

Sales: elimination

Importance1. More time for buying customers2. Efficiency: make more money

with your resources

Criteria

• No money• Cost higher than

value

• Indecisive• Insincerity• Too high

threshold

• No benefit• Breaking the law

• No benefit• No interest

Marketing Ethical

EconomicalPersonal

Sales: Qualification / Elimination

Buyers in heat:• They want the product, need

the product, benefit from the product, can afford the product and they are prepared to decide now

• They already have decided to act

Buyers in power:• Are like buyers in heat but they

aren’t consciously feeling any major pain pressure

• They have no urgency to decide

• They feel in a position of power because they feel they can look around for the best solution for their problem

Lookers:• Act like buyers in power but

don’t have any real intention to buy

• Are emotional drains for sales representatives

Mistakes:• They have no reason to be in

your sales funnel

Sales: elimination of lookers

• Keeps asking questions they seem to already know the answers to

• Are excessively careful• Faking “ooos”, “aahs” and “hmms”• When asking about their finances they

become overconfident or unnecessary vague

Conclusion

1. Create, standardize and optimize your process

2. Use a buy-in gauge

3. Stay on track

4. Qualify and eliminate decisively

Selected sales techniques

Persuasion Using questions

Objection handling Communication

PresentationBenefits centered approach

One Brain: Two Systems

System 1 System 2

Shared pool of mental energyThe shortcuts created by system 1 create biases

Two systems

System 1• Fast• Effortless• No voluntary control, automatic• Continuously on• Pattern matching• Tacit knowledge/skills• Bad at statistics and logic• Impulsive and intuitive• Involved and influenced by associative

activation/memory recall• Related to creativity• Activated by good mood• Maintains and updates a model of your

world which represents what is normal on it• Likes coherence and will create it

System 2• Slow• Effortful (it hurts)• Requires attention• Agency, choice, conscious reasoning self• Cautious and lazy• Activated by surprises, non-expected

outcomes• Activated by bad mood

https://youtu.be/cFdCzN7RYbw

Reciprocity Scarcity

Social proof Liking

Authority Coherence and engagement

Persuasion

Reciprocity Scarcity• People want more of the things

there are less of • Actions:

• Only now• Temporary promotion• Limited information• It is closed, but I will check what

I can do for you…• Mention the benefits they stand

to lose

• Obligation to give when you receive (Return of favors)

• Condition:• Be the first one to give• Personalize• Unexpected

• Ask for a too big favor that will be refused, then ask for a smaller favor

Persuasion

Social proof Liking• The higher the appreciation, the

easier the agreement• Effect « Halo » → Physical

attractive → talented, intelligent, confidence• Tendency to appreciate more

those who are similar to our self• Tendency to appreciate more

those who give compliments• Tendency to appreciate more

those who are funny • Tendency to appreciate more

those who are cooperating with us

• Individuals look at actions of others to determine their own actions

• If lots of people do something, we have the tendency to do the same• Business references• Focus on the actions of similar

individuals• Point to the behavior of many

similar others

Persuasion

Authority Coherence and engagement• Desire to appear consistent in his

behavior• Ask for a small initial

engagement. Agreed? You can ask for more with respect to the initial agreement

• Conditions: voluntary + active + public commitments

• Persons will follow credible and knowledgeable experts

• Expressed by uniform, respect to others, titles, qualifications, clothing,…

• Tendency to follow the instructions

• Have someone say you are an expert in your field

Other biases in sales

• Framing (anchoring) Anchoring (stickiness of frames) Myopic framing (short term gain against long term well being)

• Coherence Halo effect Confirmation bias

• Loss aversion Endowment effect (status-quo bias)

Conclusion

• System 1 shortcuts create biases• Persuasion:

• Reciprocity• Scarcity• Social proof• Liking• Authority• Coherence and engagement





Objections are merely smoke screens for uncertainty

Let me think about it.

I don’t thrust you

Objection handling

• Don’t just answer the objection and ask for the order

• Even a perfect reply just forces the prospect to come up with a new objection• The root problem (uncertainty) has not been addressed• Loop back to the beginning of the sale• Make a follow-up presentation that picks-up were the initial

presentation has left off

Arguments

• The more specific the objection, the easiest to overcome

• Use arguments of causality (cause to effect relations)

• Avoid statistical information or opinions

Price

• Nobody ever asked to raise the price• Is the price your only concern?

a) Yes, negotiateb) No, handle the other concerns first.

Refuse to give prices

If you are only looking for price, we really are not the company for you.

Our focus is on crafting real solutions for IVD laboratory problems and developing long term mutual beneficial relationships.

Please feel free to contact us if there any changes to your approach or a misunderstanding by us.

Let me think about it…

• Reply:• What precisely do you need to think about?• I hear what you are saying, XXX, but let me just say that I have been

doing this for quite some time now, and if there is one thing I have learned it is that when people say they are going to think about it, or call you back, what ends up happening is that they end up putting the idea in the back of their mind and deciding against it. Not because they don’t like the idea – in fact, in your case I know that you actually do – but the simple fact is that we are both very busy people, and you will go back to your busy life and end up missing out on this; I don’t want to see that happen to you.In fact, let me say this, one of the true beauties of the situation is that, right now…

No

• Safe choice• Status quo• Feeling of control (the right to veto)• The meaning of no:

I am not yet ready to agree You are making me feel uncomfortable I do not understand I don’t think I can afford it I want something else I need more information I want to talk with someone else

No

• Ask a question / label the situation:• What about this doesn’t work for you?• What would you need to make it work?• It seems like there is something here that bothers you. What is it?

Conclusion

• An objection is a display of uncertainty• Use a buy-in gauge to focus on the right points• Loop back to your presentation





First contact = First opinion

• I, you, everyone does it!

• Note: • It takes 8 positive

impressions to erase the one negative first impression

• Do you get 8 chances?

Right impression

Smart: • To earn time you must have

something worth listening to• Help the prospect fulfill their needs

and desires

Enthusiast:• Important subliminal message• You have something great to offer!• Demonstrate: energy, positive

influence, enthusiasm

Expert:• Persuasion: respect and deference to

authority figures• Convince the prospect that you are

highly competent, acknowledgeable professional, expert in your field

• More control over the sale

Be Worth Listening To

Important points:1. Get to the point quickly2. Have a solution for their problem3. Be an asset to them over the long-term

Remember:• You are interrupting someone’s day• Ask for permission: Is this a convenient time?

My name is Forest; Forest GumpAre you coming on?

Momma said not to be taking rides from strangers.

Introducing you: 1st time

Hello, I am XXXXI am [title]from company ZZZZIn CityI have been there X yearsI pride myself on…My company ZZZ is…Would you mind if I ask you a few questions?

Coming back

Hello, I am XXXXfrom company ZZZZ

a) If you recall, we met…

or b) We have been reaching out to professionals in your area…

I am contacting you because….2

Would you mind if I ask you a few questions?…Based on what you said to me, this is a perfect fit for you.

2 Don’t ask if he received or read the information you sent to him. This offers a perfect escape.

Build rapport

• You care• You are not just looking to make a commission• You want to help resolve your prospects fill his needs and resolve his

pain• You have his best interest at heart

• You are just like him• Human beings want to associate with people who are just like them

Conclusion

• Be your best self Be smart Be enthusiast Become an expert

• Be prepared: know what to say





How do you get to know something?

By asking.

Golden rules for questions 1/4

1. Always ask for the permission to ask questions• It helps build rapport (It is more agreeable than forcing your way)• Example:

XXX, just a couple of questions, so I don’t waste your time. XXX, let me ask you a couple of quick questions, so I can best server you. XXX, let me ask you just a couple of quick questions, so I can see exactly what your needs are.

• “So” & “because” are justifiers, they imply logic in what you do

2. Prepare your questions• Write them down• Follow the sequence• Go from less invasive questions to more invasive questions• Go from easy to more difficult thinking questions


3. Focus on the right tonality4. Make mental notes; don’t resolve their pain

• Always amplify that pain• This will ensure that your prospect:

• Understands the ramifications of not taking action to resolve their pain• Feels ramifications of not taking action to resolve their pain


5. Use the correct body language as the prospect responds Nod your head while the prospect is speaking. (shows understanding and interest) Narrow your eyes and compress your lips, while nodding your head slowly, when your

prospect is disclosing an issue that is very important to them Narrow your eyes and compress your lips even more intensely, if the above topic deals with

one of the prospect’s pain points. And nod your head slowly while letting out the appropriate oohs and aahs to show you actually feel the prospects pain.

Leaning forward when you ask an emotional charged question, and then continuing to lean forward while your prospect answers

Leaning back when you ask a question that is grounded in logic, and continue to lean back and nod your head in understanding and scratch your chin thoughtfully while your prospect answers


6. End with a powerful transition• A recapitulation ( … based on everything you just said to me, this

… is definitely a perfect fit for you. Let me tell you why…An elimination (… after listening everything you told me, this …. is

not a good fit for you)

7. Stay on the straight line

Information gathering: checklist

Category Sub-category Notes

Needs

Core need

Secondary needs

Problems they might have

Beliefs Core beliefs

Past experiences (similar products)

Good

Bad

Feeling about the salespeople

Values What is most important?

FinancialsSpending ability

Comfort zone

PainsWhat is keeping them up at night

Urgency level

Who else is involved?Names, functions…

How does this affect them?

Suggested Questions

For prospects satisfied with their current supplier (to increase their pain)

• Are you satisfied?• What could be improved? What could be better?• Can’t your current supplier help you on this?

To get out of a dead-end• Are you open to reconsider your opinion in case of new information?• What kind of information would make you reconsider your

position/opinion?• I see you are considering other elements in your reasoning. Could

you share them? • Could you help me to understand your point of view?

Few are persuaded by listening the opinion of others

Question to increase the pain threshold(discover needs, develop the needs, transform the needs into necessities, create action)

Suggested Questions

To discover their needs: • What is your current biggest headache with your business?

• How long has this been going on?• Do you see this getting better or worse?• How do you see yourself in two years?• How has this affected you/your business?

• What would be your ideal product if you could design it? • Of all the factors you have just spoken about, what is the most

important to you?• Have I asked about everything that’s important to you?

Suggested Questions

To increase the pain threshold• Are you satisfied with the product?• What could be better?• What is expected from my presentation/from my company (in order

for you to buy the product)?• « You did not give me good reasons to buy the product …»

• Which reasons did you expect?

Suggested Questions

• To gauge if the prospect is following you• You see what I am saying?• Do you like the idea?• Does this make sense to you?

Exactly, it really is a great buy. In fact one of the true beauties here is that…

The benefit of prompting a no with questions

• No gives a feeling of safety, security and control• Prospect feels that they are in control• It engages them in thinking• Examples:

Is it a bad time to talk? Have you given up on this project?

Conclusion

• Ask for permission to ask questions• Prepare your questions

• Go from less invasive questions to more invasive questions• Go from easy to more difficult thinking questions

• Always do information gathering• Increase the pain threshold





The message is for the receiver

Consider how the receiver will listen, understand and process what you want to convey.

See the world through their eyes.

Tonality

• Tonality + Body Language = 90% of our communication• Tonality: intonation, tone, stress, and rhythm• Modulate and vary

• Tonality trick to draw attention: Whispering and slowing down: draws attention, the prospect listens more closely Stressing consonants: give intensity & clarity to words

Communication

• Simple words• Active forms• Positive• Repeat important topics minimum 2 times• Logical sequence• Finalize in time

Don’t repeat endlessly Stick within the accorded timeframe

Conclusion

• Build the message for the receiver• Tonality and body language convey a lot of the

message





Benefits centered approach


Definition

Description

Reaction

Features

Affirmations that describe a characteristic of a product or

service

= Clear and explicit elements (ex: seats are in Italian leather)

Resistance

Advantages

Affirmations that describe how a characteristic of a

product or service can help the customer

= Represents the opinion of the sales representative (ex:

these leather seats are easy to clean)

Objection

Benefits

Affirmation that shows how a product or a service satisfies

the clearly expressed needs of a customer

= Associated with the expressed needs of a customer (ex: these

comfortable seats will help relax and avoid the back pain

you currently have)

Support and approval


Contract

Contact

Persuative effectStrong

Weak

Features

Advantages

Benefits


• Be short and powerful• Use metaphors to illustrate (where possible)• Link to a trustworthy person or institution (leverage

of credibility)

Conclusion

• Benefits have the highest persuasive effect• Benefits impact stable/increasing over time• Avoid features

What to remember?

• Create customers + keep customers• 5 Thresholds to get a sale• Logic and emotion play a role• Create your process• Master the information gathering• Eliminate decisively• Persuade• Be your best self• Introduce you skillfully• Ask the right questions• Use benefits

Thank you!

Good one liners

• If you give 1% of your trust, I will earn the other 99%• I am obviously not getting rich here, but again, this will serve as a

benchmark for our future business.• XXX please don’t misconstrue my enthusiasm for pressure; it’s just that I

know that this truly is a perfect fit for you…

Smooth transitions

• So why don’t we do this…• So all I am asking for is this… order• As far as my X goes….

Documents

Presentation for distributors › sites › default › files › files › Selling the...The purpose of this presentation 1) Clarify what the marketing/sales duties are 2) Define