A Guide to Success in Sales

As times get tougher, selling gets harder. The demands on salespeople are increasing as markets become more and more competitive and complex.

Sales channels are multiplying and fragmenting, with an explosion of Web portals, B2B processes and e-tailing. The pressure on prices is building as business becomes global. Firms everywhere are looking to simplify their processes and improve their customer service. However, the basic principles of selling remain the same. Pre-sales preparation, competitor analysis, prospect ranking and networking are still as essential as ever.

In this article we will examine the five basic steps to selling success and look at the characteristics of effective salespeople. We examine techniques for sales presentations, and give tips for negotiation to help you to close the deal.

Before reading further, think about your answers to the following questions:

• What are the qualities of a successful salesperson?
• What are the right questions to ask customers?
• What are the ways to overcome buyer resistance?
• What are the most common mistakes made by salespeople?

1. Effective Selling

Here are five key points to help you find sales success:

a) Sell solutions, not features

Don’t sell products, but rather the solutions customers need to do business more effectively. Explain to your prospects how your products meet their needs.

b) Sell to the right people

Identify the prospects who are currently the most profitable. Use networking events to research the market: talk to secretaries, salespeople, assistants, or anyone who connects you to the decision maker. Don’t forget to adapt your sales materials.

c) Sell something unique

Product differentiation is the way to make sure that a customer buys your product and not a competitor’s. Make sure you can offer three unique reasons to buy. But remember: even if your product is faster, less expensive, and of higher quality, you still have to prove it.

d) Sell personally

Print media and direct mail are not enough to sell your product. If possible, talk to your customers personally and show that you know and are interested in their business. Study your customers’ industries, and find out who the main competitors are.

e) Sell twice

The new buzzword is “strategic selling”. This basically means identifying which prospects are potential long-term customers However, don’t ignore your established client base. It is your most valuable asset and can generate new business through follow-up and through word-of-mouth referrals. Concentrate on developing future and referral business with each customer; everything you do must be aimed at the second sale.

2. Key Questions

Here are some key questions often asked by people in sales. Think about your answer to each question:

a) What makes a salesperson successful?

Salespeople, like everyone else, differ in their characters. Some are quiet; others are extroverted and enthusiastic. However, they all need certain basic qualities, which include knowing how to listen, knowing when to be assertive, and knowing when to empathize.

b) What are the ways to overcome buyer resistance?

Write down the five most common objections that buyers raise. Then write down how you will counter these objections. Practise these arguments until they seem natural and easy.

Remember that the reason many people don’t buy is that they are afraid of making the wrong decision. Effective sellers can take away that fear through reassurance. One simple technique is the so-called fallback offer. When the first offer is rejected, a second offer is made that is usually smaller in scope and reduced in price. In this way, customers may instinctively feel they are getting a good deal.

c) How important is it to ask questions?

It is important not just to ask questions, but to ask the right ones.

• Asking to get facts. You need information, but be careful! Nobody enjoys an interrogation, and prospects are likely to get bored quickly.
• Asking about problems. Prospects usually need to recognize a problem with their existing situation before they decide to buy. Learn how they feel and discover the solution they would like. If your buyers don’t think they have a problem, questions might be used to develop a need.
• Asking about costs. Use questions to make prospects realize the cost of not solving a problem. If you can show prospects the negative consequences of ignoring the problem, you improve your chances of convincing them to buy.
• Asking to create understanding. Use questions also to help prospects to realize the value of your solution.

3. The Sales Presentation

Here are some ideas to give your sales pitch the “wow factor”:

a) Build rapport

Before discussing business, build rapport with your prospect. Don’t forget you are doing business with a real person.

b) Make your pitch interactive

Think of questions to ask that involve people and also help you to understand your customer’s reactions and needs.

c) Learn to listen

A salesperson who talks too much may bore the prospect and lose the sale. You should be listening at least 50 per cent of the time. Demonstrate your attention by writing down your customer’s needs, objections, etc. as they come up.

d) Be honest

Acknowledge any gaps in your solution, but identify how you can compensate for those gaps to create even better value for the client.

e) Include special incentives

Provide your prospect with incentives, for example, “Buy now and get one free!”. Also, offer guarantees: “If you are not happy, we will redo it at our expense.”

f) Close with choices

Don’t back your prospect into a corner with a take-it-or-leave-it style of presentation.

4. Telesales Techniques

Selling by telephone plays an essential role in many organizations. However, telesellers have a particularly difficult task, as the clients often have little time or do not wish to hear yet another pitch. Here are some ideas for those needing to warm up their cold calls.

a) Prepare yourself well

Selling in situation where you can not see your prospects offers particular challenges. If at all possible, prepare for your telephone call by sending e-mails to your business partner in order to establish and agree on an agenda. Prepare what you want to say and think about how you will deal with any lack of enthusiasm. Call during “positive” times: mornings or early afternoons are best, but never call on Monday mornings or Friday afternoons.

b) Be polite and keep it simple

Politeness never hurt anyone. Asking “Are you free at the moment?” can help to build responsiveness in the listener and save you from wasting your time. Use simple language to engage your business partner.

c) Manage your voice

Successful selling means projecting confidence, personality and authority through the tone of your voice. This means managing the speed and intensity of your comments, as well as the level of pleasure, satisfaction or enthusiasm that you show. If you are doing well, you will hear it in your conversation partner’s tone of voice.

d) Getting past “I am not interested”

Psychologically, try to enjoy the moment you hear “I am not interested”. This is an opportunity for you to show what you can do. Never fight objections. Instead try thanking the person or dealing openly with any concerns: “Thanks for sharing that with me” or “I understand that you may be a little hesitant”. The listener may be surprised and be prepared to talk to you a little longer. Explain again the value of your offer so that the other person does not feel that you are trying to “out-argue” the objection. Don’t forget that rejection is nothing personal. It is just a part of sales life. The ability to pick oneself up and move to the next prospect is the sign of a true professional

e) Closing

Getting to “yes” can involve considerable negotiating skills (see below). Once you have reached an agreement, take the time to summarize the main points of the conversation and confirm the deal. Clarify the next steps and take responsibility to document everything by e-mail within 24 hours. Even if your sales call was unsuccessful, send an e-mail thanking your business partner for the time taken and interest shown.

5. Negotiating Skills

At some point in the selling process, your negotiation skills will be required. Successful selling depends on your ability to convince people to buy at a price that you, as the seller, are happy with.

However, it is extremely difficult to identify persuasive principles that are successful in all sales contexts. A lot depends on context. Is it a first sale or follow-up business? Is the climate friendly or aggressive? Are you selling strategically or for short-term gain?

Success in persuading others depends on two main factors: market power and communication style. Although power can sometimes lie with the seller, more often it is the buyer who holds the trump cards. In this case, you must know the market and your competitors’ position to understand your basis for negotiation.