State Bank Staff College, Hyderabad

SELLING SKILLS

SBSC, Hyderabad

How does a customer buy? Buying is not one but a bunch of 5

decisions1. Your integrity and judgment

“you are there to take or give.”

2. Your company is dependable and has a good after-sale service;

“you may make a distinction between yourself and your company, but your prospect does not. “

SBSC, Hyderabad

3. Product or Service- Suitability, quality, delivery.

4. Price. Value for their investment. ( VFM)

5. “When” because no one wants to spend money before it’s necessary

“People Buy Not because they understand your Product or

Service, but

because they feel YOU understand THEM.”

Personal Selling

Direct personal communication to influence target audience

Oral presentation in conversation with existing and prospective customers for the purpose of making a sale.

SBSC, Hyderabad

Objectives of Personal selling

Providing Information Persuading Establishing a relationship Building a relationship Sustaining the relationship

SBSC, Hyderabad

Distinct Features

Oldest method of business promotion

Most reliable promotion method Expensive method of promotion One cannot live without it

SBSC, Hyderabad

Advantages of Personal Selling

Flexibility in terms of tailoring the sales presentation.

Two way communication and face to face interaction.

More time and opportunity to convince customers.

When we talk to customers they change their positions to adopt new buying patterns or behavior.

More opportunity to understand clients. Helps to establish rapport with the client.

SBSC, Hyderabad

Steps in the Selling Process Preparation Prospecting and Qualifying Pre-approach Approach Identify the Need Solution to satisfy the need.

Sales Presentation- AIDA Handling objections Closing the sale Post sale follow up

SBSC, Hyderabad

PREPARATION – 4 Cs

Know Your

Commodity / Product Customer Competitor Company

SBSC, Hyderabad

Active listening Is a two way process of communication

A sends a message B receives the message. Involves concentration and

working out the implications of the message. B state back what has been understood, but makes

no evaluation. A agrees with the B’s interpretation or resends the

message if any misunderstanding has occurred, till the message is properly under stood

2 Techniques Summarizing (message) Reflecting (feelings)

SBSC, Hyderabad

Prospecting Clients “Separate the prospects from the

suspects”

Branch dossier / Branch database Identify potential for buying in existing clients Reference from existing clients Winning back lost customers Customer call register / enquiry register Attracting competitors’ customers Newspaper Advertisements Sub-registrar office, Urban development authority etc Pensioner’s list, employees list from govt. depts., Corporates etc Directories, Trade Associations like Chamber of Commerce,

District Industries Centre etc References from Staff Cold canvassing i.e. door to door

SBSC, Hyderabad

Pre-approach Find out about the needs of the

customer Fix prior appointments

Approach ‘First Impression Counts’ Meet the customer with a positive

frame of mind Make an impact on him. Ice-Breaker

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Identify Need Probing (Gentle, Discreet & Non

Aggressive) Solution to satisfy the need

Identify suitable product & make a Sales Presentation.

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SALES PRESENTATION –AIDA PROCESS

Attention Interest Desire Action

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Handling objections

Sometimes objections are not to the Bank but to the person marketing.

Just the fact that they do not like the Bank.

Gaps in either their understanding or in the adequacy of information.

The person is afraid to take a decision. Objection should be clearly understood

and addressed immediately.

SBSC, Hyderabad

Closing the sale – Non-verbal buying signals

Slow head nod With a smile Extensive pupil dilation Gestures that show interest Buyers possessiveness

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Post sale follow up

SBSC, Hyderabad

An example of a chart

Our Rates are lower!

They

15% We

12%

SBSC, Hyderabad

Selling Tips Know more about the customer Prepare Tables & Charts Be appropriately dressed and make a

favorable impression Better to take an appointment rather

than just dropping in on a customer. Be punctual, never be late Practice Basic Etiquette and

courtesies

SBSC, Hyderabad

Selling Tips Spend a minute or two making

polite enquiries Do not waste the customers time Ask questions and listen to the

answers Set goals and determine to be

successful

SBSC, Hyderabad

Selling Tips

Try to build relationships, not to sell products

Tell the truth. Integrity has long term value Be a financial advisor, not a salesman We should be convinced ourselves. If we

are not convinced, clients will not be! Provide responsive and anticipatory after-

sales service

SBSC, Hyderabad

Ways to promote business through Personal Selling Creating the right setting in the office Interacting with clients visiting our office Making corporate presentations Visiting residences/offices of clients

based on prior appointment Contacting clients over phone at

periodical intervals ‘Customers prefer talking to listening’