Professional Salesmanship-BSBA/6 Steps in the Selling Process.

Prof. Allan Noguerra, MBA,LPT

20 Sept 202211:03

Summary

TLDRIn this educational video, Professor Alan outlines the six essential steps to professional salesmanship: prospecting, researching, approaching, presenting, handling objections, and closing deals. He explains the importance of understanding customer profiles and using effective communication strategies to overcome objections and close sales. The video is a comprehensive guide for IBSBA students to enhance their sales skills.

Takeaways

💼 The six steps in the selling process are essential for becoming a good salesperson.
🔍 Step 1: Prospecting involves identifying potential customers, using referral or non-referral methods.
🧐 Referral prospecting involves getting referrals from friends, coworkers, and associates, while non-referral prospecting includes reaching out to people you know, old clients, and strangers.
📊 Step 2: Researching requires gathering vital information about prospects, such as their personal details, financial resources, buying patterns, and personality types.
📞 Step 3: Approaching the prospect involves contacting them through phone, email, or in-person, introducing products, and highlighting consumer benefits.
🖥 Step 4: Presentation should establish legitimacy, rapport, highlight product benefits, and engage the client with a customized approach.
🙋‍♂️ Step 5: Handling objections includes preparing answers, listening carefully, staying calm, being friendly, and offering reassurances.
🔒 Step 6: Closing the deal requires recognizing buying signals, such as the client asking about product details, price, and payment options.
💬 Recognizing buying signals such as nodding, asking for details, or negotiating indicates readiness to close the deal.
👍 Sales presentations should be rehearsed, focused on the client's needs, and provide the client with a printout of the details.

Q & A

What is the main topic of the video?
-The main topic of the video is 'professional salesmanship', focusing on the selling process and techniques for effective sales.
How many steps are there in the selling process according to the video?
-There are six steps in the selling process: prospecting, researching, approaching the prospect, presentation, handling objections, and closing the deal.
What are the two types of prospecting mentioned in the video?
-The two types of prospecting mentioned are referral prospecting and non-referral prospecting.
What is referral prospecting?
-Referral prospecting is based on recommendations from friends, officemates, and associates, where they refer potential customers interested in products and services.
What does researching involve for a salesperson?
-Researching involves gathering vital information about prospects, including personal details, financial resources, buying patterns, and personality types.
How can a salesperson approach a prospect?
-A salesperson can approach a prospect through phone, email, or in person, introducing themselves, their products and services, explaining benefits, offering discounts or rewards, and demonstrating the product.
What are the 11 essentials of an effective presentation as outlined in the video?
-The 11 essentials include establishing legitimacy and expertise, establishing rapport, mentioning all benefits, having conviction, being clear and precise, being creative, customizing the presentation, keeping the client interested, allowing the client to speak, providing a printout, and rehearsing and critiquing the presentation.
How should a salesperson handle objections from customers?
-A salesperson should prepare responses to objections, listen to the client, respond promptly, keep a cool head, be friendly, skip to the point, reassure the client, allow concessions, make referrals if necessary, and maintain contact with the client.
What are buying signals that indicate a prospect is ready to close a deal?
-Buying signals include closely examining the product, asking for more details, nodding in agreement, smiling, asking about delivery or installation, negotiating price or discounts, asking for assurance on quality or durability, and inquiring about payment methods and company policies.
What is the final step in the selling process discussed in the video?
-The final step in the selling process is closing the deal, which involves recognizing buying signals and responding appropriately to secure the sale.

Outlines

00:00

📈 Introduction to Professional Salesmanship

Professor Alan begins the video by addressing IBSBA students and introducing the topic of professional salesmanship, which is part of their course. He outlines the six steps involved in the selling process that are essential for becoming an effective salesperson. The steps include prospecting, researching, approaching the prospect, presentation, handling objections, and closing the deal. The first step, prospecting, involves identifying and listing potential customers through referral and non-referral methods. Referral prospecting relies on recommendations from friends, officemates, and associates, while non-referral prospecting targets people known to the salesperson, previous clients, and even strangers. The video emphasizes the importance of understanding these steps to excel in sales.

05:05

🔍 Techniques for Approaching Prospects

In this segment, Professor Alan discusses the methods of approaching prospects, such as through phone, email, or in-person meetings. He advises salespeople to introduce themselves and their products, explain the benefits, and offer discounts or rewards. Demonstrations and asking questions are also part of the approach, along with using statistics and compliments to build rapport. The video then transitions to the next steps in the selling process, urging viewers to subscribe for updates. The fourth step, presentation, is outlined with 11 essentials, including establishing legitimacy, building rapport, mentioning benefits, and customizing the presentation to the client's needs. The fifth step, handling objections, provides strategies such as preparing responses, listening, staying calm, and reassuring the client.

10:07

🏁 Closing the Deal and Engaging the Audience

The final part of the video focuses on the sixth step in the selling process: closing the deal. Professor Alan explains the importance of recognizing buying signals from prospects, such as examining the product closely, asking detailed questions, nodding in agreement, smiling, and negotiating price. These signals indicate the customer's interest and readiness to buy. The video concludes with a call to action for students to share the content and engage with the channel. The presenter thanks the viewers, encourages them to like and share the video, and looks forward to their next encounter in a future video.

Mindmap

Keywords

💡Professional Salesmanship

Professional salesmanship refers to the skill set and conduct required to effectively sell products or services in a professional manner. It encompasses a range of abilities, including communication, persuasion, and customer service. In the video, this concept is central as it is the main subject of the course being discussed, and the script outlines steps and techniques to improve this skill.

💡Prospecting

Prospecting is the process of identifying and qualifying potential customers for future sales. It is the first step in the selling process discussed in the video. The script mentions two types of prospecting: referral and non-referral, with examples including reaching out to friends, acquaintances, and strangers to introduce products and services.

💡Referral Prospecting

Referral prospecting is a method of finding new customers through referrals from existing satisfied customers. This is highlighted in the script as a type of prospecting where salespeople leverage their network to gain introductions to potential clients who are likely to be interested in the products or services offered.

💡Researching

Researching involves gathering vital information about potential customers to better understand their needs and preferences. The video script emphasizes the importance of knowing personal information, financial resources, and buying patterns to tailor the sales approach effectively.

💡Approaching the Prospect

Approaching the prospect is about making initial contact with potential customers. The script describes various methods such as phone, email, or in-person meetings. It also discusses strategies like introducing oneself and the product, explaining benefits, and offering discounts to engage the prospect.

💡Presentation

Presentation is the act of demonstrating or showcasing a product or service to a customer. The video outlines 11 essentials for an effective presentation, including establishing legitimacy, rapport, and providing clear, creative, and customized information to keep the client interested.

💡Handling Objections

Handling objections is a critical part of sales where a salesperson addresses customer concerns or resistance to buying. The script provides strategies such as preparing responses, listening, staying calm, and reassurance to effectively manage objections and keep the sales process moving forward.

💡Closing the Deal

Closing the deal refers to the final stage of the sales process where the salesperson secures the customer's commitment to purchase. The video script mentions recognizing buying signals, such as a customer asking for details about delivery or price negotiation, as cues to close the sale.

💡Buying Signals

Buying signals are indicators from a customer that they are ready to make a purchase. The script lists examples such as closely examining the product, asking detailed questions, nodding in agreement, and negotiating price, which suggest that the customer is considering buying.

💡Personality Types

Personality types refer to the different characteristics and behaviors that customers may exhibit. The video script mentions understanding buyer personality types, such as analytical or suspicious buyers, to tailor the sales approach accordingly.

💡Demonstration

Demonstration is a technique used in sales to show the product or service in action. The script suggests that after introducing the product and explaining its benefits, salespeople should demonstrate the product to provide tangible proof of its value.

Highlights

Introduction to professional salesmanship

Six steps in the selling process

Step one: Prospecting

Types of prospecting: referral and non-referral

Referral prospecting based on recommendations

Non-referral prospecting among acquaintances and strangers

Step two: Researching

Importance of knowing personal and financial information of prospects

Understanding buying patterns and personality types

Step three: Approaching the prospect

Techniques for approaching prospects through phone or email

Emphasizing consumer benefits and offering incentives

Step four: Presentation

11 Essentials of an effective presentation

Establishing legitimacy and rapport

Handling objections in step five

Strategies for responding to customer objections

Step six: Closing the deal

Recognizing buying signals and closing techniques

Encouragement to share the video and subscribe