If you’re a business owner, you’re also a salesperson.
You’ve had to sell the bank to get them to loan you your start-up capital. You’ve had to sell the best employees on why they should work for your business. You’ve had to convince your business partner, spouse, and friends why your business idea is a good one.
Now you have to repeatedly sell your product or service to your customers.
The ability to sell effectively and efficiently is one every successful business owner has cultivated and continues to develop. It can be a complicated and time-consuming task; one that you will have to continually work on throughout your career in order to be – and stay – successful.
Fortunately, making sales is a step-by-step process that can be learned, customized, and continuously improved. There are a wide range of tools available to help and support your sales efforts.
You don’t have to be the most outgoing, enthusiastic person to be successful at sales. You don’t even have to be a good public speaker. All you need is an understanding of the basic sales process, and a genuine passion for what you are selling.
Sales 101
As I said before, making sales is a process. There are clear, step-by- step actions that can be taken and result in a sale.
The sales process varies according to the type of business, type of customers and type of product or service that is offered; however, the core steps are the same. Similarly, sales training varies from individual to individual, but the core skills and abilities remain the same.
Here is a basic seven-step process that you can follow, or fine tune to suit your unique products and services. Remember that each step is important and builds on the step previous. It is essential to become adept at each step, instead of solely focusing on closing the sale.
1. Preparation
Make sure you have prepared for your meeting, presentation, or day on the sales floor. You have complete control of this part of the sales process, so it is important to do everything you can to set the stage for your success.
- Understand your product or service inside and out.
- Prepare all the necessary materials, and organize them neatly.
- Keep your place of business tidy and organized. Reface product on shelves.
- Ensure you appear professional and well groomed.
- Do some research on your potential client and brainstorm to find common ground.
2. Build a Relationship
The first few minutes you spend with a potential customer set the stage for the rest of your interaction. First impressions are everything. Your goal in the second step is to relax the customer and begin to develop a relationship with them. Establishing a real relationship with your customer will create trust.
- Make a great first impression: shake hands, make eye contact, and introduce yourself.
- Remain confident and professional, but also personable.
- Mirror their speech and behavior.
- Begin with general questions and small talk.
- Show interest in them and their place of business.
- Notice and comment on positives.
- Find some common ground on which to relate.
3. Discuss Needs + Wants
Once you have spent a few moments getting to know your prospect, start asking open-ended questions to discover some of their needs and wants. If they have come to you on the sales floor, ask what brought them in the store. If you are meeting them to present your product or service, ask why they are interested in, or what criteria they have in mind for that product or service.
- If you are making a sales presentation, ask for a few moments at the outset to outline the purpose of your visit, as well as how you have structured the presentation.
- Listen intently and repeat back information you are not sure you understand.
- Ask open-ended questions to get them talking. The longer they talk, the more insight they are providing you into their needs and purchase motivations.
- Ask clarifying questions about their responses.
- If you become sure the customer is going to buy your product or service, begin to ask questions specific to the offering. i.e., what size/color do you prefer?
4. Present the Solution
Once you have a solid understanding of what they are looking for, or what issue they are looking to resolve, you can begin to present the solution: your product or service.
- Explain how your product or service will solve their problem or meeting their needs. If several products apply, begin by presenting the mid-level product.
- Illustrate your points with anecdotes about other happy customers or awards the product or service has earned.
- Use hypothetical examples featuring your customer. Encourage them to picture a scenario after their purchase.
- Begin by describing the benefits of the product, then follow up with features and advantages.
- Watch your customer’s behavior as you speak, and ask further qualifying questions in response to body language and verbal comments.
- Give the customer an opportunity to ask you questions or provide feedback about each product or service after you have described or explained it.
- Ask closed-ended questions to gain agreement.
5. Overcome Objections
As you present the product or service, take note of potential objections by asking open-ended questions and monitoring body language. Expect that objections will arise and prepare for it. Consider brainstorming a list of all potential objections and writing down your responses.
- Repeat the objection back to the customer to ensure you understand them correctly.
- Empathize with what they have said, and then provide a response that overcomes the objection.
- Confirm that the answer you have provided has overcome their objection by repeating yourself.
The Eight Most Common Objections
The product or service does not seem valuable to me.
There is no reason for me to act now. I will wait.
It’s safest not to make a decision right away.
There is not enough money for the purchase.
The competitor or another department offers a better product.
There are internal issues between people or departments.
The relationship with the decision maker is strained. There is an existing contract in place with another business.
6. Close
This is an important part of the sales process that should be handled delicately. Deciding when to close is a judgment call that must be made in the moment during the sale. Ideally, you have presented a solution to their problem, overcome objections, and have the customer in a place where they are ready to buy.
Here are some questions to ask before you close the sale:
- Does my prospect agree that there is value in my product or service?
- Does my prospect understand the features and benefits of the product or service?
- Are there any remaining objections that must be handled?
- What other factors could influence my prospect’s decision to buy?
- Have I minimized the risk involved in the purchase, and provide some level of urgency?
Once you have determined it is time to make the sale, here are some sample statements you can use to get the process rolling:
- So, should we get started?
- Shall I grab a new one from the back?
- If you just give me your credit card, I can take care of the transaction while you continue browsing.
- When would you like the product delivered?
- We can begin next month if we receive payment by the end of the week.
- Can I email you a draft contract tomorrow?
7. Service + Follow-up
Once you have made the sale, your work is not over. You want to ensure that that customer will become a loyal, repeat customer, and that they will refer their friends to your business.
Ask them to be in your customer database and keep in touch with regular newsletters. Follow up with a phone call or drop by to ask how they are enjoying the product or service, and if they have any further questions or needs you can assist them with.
This contact opportunity will also allow you ask for a referral, or an up sell. At the very least, it will ensure you are continuing to foster and build a relationship with the client.