44.11 Sales fundamentals

Three S's of Sales

A sales pitch should follow this approach in the same order strictly.

Do you have the right mindset?

  • Do you care about other people's problems?
  • Do you share great ideas and experiences?
  • Do you offer solutions to help others?

Buyer's mindset

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Question

  • Can you create trust by connecting through mutual beliefs?
  • Can you reinforce trust through understanding and empathy?
  • Can you show them a path toward success?
  • Can you demonstrate your ability to solve problems?

Ideal Customers

Who are the ideal customers?

Are they ready?

Are they willing?

Are they able?

Ideal Customer Personas

Tip

Build the narrowest niche customer segment that is ready, willing, and can solve the problem.

The Four I's

  1. Uncover the issue.
  2. Identify the impact. -> Quantify the impact on a positive note.
  3. Determine invasiveness. -> The impact of the issue is on a negative note.
  4. Break down the iceberg. -> Hinderances in solving the issue.
    1. Knowledge
    2. Time and
    3. Budget

Example

Buying motivators

  1. Price
  2. Value -> Benefit against price
  3. Quality -> I do not care about the above two.
  4. Self-Preservation -> Survival/Fear as a motivator
  5. Social Pressure

Change

Awarness+Motivation+Ability=Change
Questions

Do prospects have an awareness they need to change?
How motivated are they to make changes?
How easily can they implement changes?

Barriers to change

Quote

People buy solutions, not products.

Framing solution

Proof of sources

Customer needs

Expectations

  1. The solution will deliver as promised
  2. The solution will be implemented effectively
  3. The solution will provide continuity of customer service

Solutions

  1. Assign one person to lead.
    • Have the salesperson be the single point of contact throughout delivery, implementation, and service.
  2. Cross-train delivery and sales team.
  3. Implement regular customer satisfaction meetings.
    • A quarterly meeting should be proposed. If the customer does not want this, it's a good sign.

Sales Stages

• Pre-sales activities
• Customer engagement
• Post-sales activities

1. Pre-sales Activities Stage

Planning

Preparation

Build Your Pre-sales Activities Stage

  1. Make a list of your prospects.
  2. Test your product knowledge.
  3. Compare and contrast your competition.
  4. Create a written call strategy.
  5. Practice the call

2. Customer Engagement Stage

In-Call flow process

  1. Create a connection.
  2. Identify and prioritize issues.
  3. Establish credibility.
  4. Solve the problem.
  5. Handle objections.
  6. Gain commitment.

Build Your Customer Engagement Stage

  1. Build a connection.
  2. Identify and prioritize customer issues.
  3. Establish credibility.
  4. Solve the problem. -> Use stories and narratives.
  5. Gain commitment.

3. Post-sales Activities Stage

Quote

Cross-selling a happy customer is infinitely easier than acquiring a new one.

Build Your Post-sales Activities Stage

  1. Make a list of implementation steps.
  2. Create a customer service contact and resolution process.
  3. Set up a feedback questionnaire. -> Not more than 10.
  4. Make a self-evaluation sheet.

Source

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Thoughts 🤔 by Soumendra Kumar Sahoo is licensed under CC BY 4.0