Transcript Fundamentals of Selling

PART C – The Approach, Features and Benefits,
and the Trial Close
To Do:
A. Chapter 10 – Begin your Sales Presentation with “The Approach”.
> Read pages 307-323
> On pages 319-323 – The “Multiple Question Approach” (SPIN)
> Write up the Situation, Problem, Implication, and Need payoff
questions you will use to open your sales presentation.
B. Chapter 11 – Features and Benefits
> Read page 344 (bottom) to 345 – “The Three Essential Steps”
> Based on the product or service you are selling, write up
steps 1*, 2, and 3.
*You may use the features and benefits from your Part B Customer Benefit Plan for Step 1.
C. The Trial Close
> Read pages 118 & 119.
> Write out two trial closes of your choice from the list at the top
of page 119.
Due Date: Friday, May 11th.
What Is the Approach?
The time from when the salesperson first
sees the buyer to the beginning of the
discussion of the product.
The Approach
Could last seconds or minutes involving:
Meeting
Greeting
Rapport Building
Caution Salespeople
Take the approach seriously
Some feel this is the most important step in
the selling process
Successfully done, the Approach leads
smoothly into your presentation.
When Does the Approach End?
The Approach is over when you begin
discussing the product or service itself
The First Impression You Make
Is Critical to Success
Your first impression is projected by
Appearance
Attitude
You only have one chance to make
a favorable first impression
To Make a Favorable Impression
Wear business clothes that are suitable
and fairly conservative
Be neat in dress and grooming
Refrain from smoking, chewing gum, or
drinking in your prospect’s office
Keep an erect posture
Leave all unnecessary materials outside
the office
To Make a Favorable
Impression cont…
Be enthusiastic
Smile!
Maintain eye contact
If the prospect offers to shake hands, do
so with a firm, positive grip while
maintaining eye contact
Learn how to pronounce the prospect’s
name correctly
Five Ways to Remember
a Prospect’s Name
1. Be sure to hear the person’s name and use it: “It’s nice to meet you,
Mr. Firestone.”
2. Spell it out in your mind, or if it is an unusual name, ask the person to
spell the name.
3. Relate the name to something you are familiar with, such as relating
the name Firestone to Firestone automobile tires or a hot rock.
4. Use the name in conversation.
5. Repeat the name at the end of the conversation, such as “Goodbye,
Mr. Firestone.”
Approach Categories
Opening with a statement
Opening with a demonstration
Opening with a question or questions
Opening With Statements
Introductory approach
Complimentary approach
Referral approach
Premium approach
Demonstration Openings
Product approach
Showmanship approach
Opening With Questions
Customer benefit approach
Curiosity approach
Opinion approach
Shock approach
Multiple Question Approach
Situation
Problem
Implication
Need-payoff questions
Remember product not mentioned in SPIN!
Electric Motors, Inc.
Producer of heavy-duty electric motors.
SWOT Analysis
Strengths
5% greater efficiency.
Requires less
maintenance.
Will last 20 vs. 15 years
Weaknesses
Costs 25% more.
Costs 10% more to install.
Electric Motors, Inc.
Situation:
How many motors do you currently have operating?
200
How often do your maintenance people service the
motors?
Every month.
How many people are on your maintenance crew?
50
What is the lifespan of your current motor?
15 years
Electric Motors, Inc.
Problem:
Have maintenance costs gone up as wages have
risen?
Yes!
Have operating costs gone up as electricity prices
have risen?
Wow! Have they ever!
I’ll bet it’s expensive to replace these every 15 years –
in installation expenses - right?
Yes
Electric Motors, Inc.
Implication:
You’re spending a lot on electricity – have you considered
trying to find a more efficient motor?
Yes, but they’re expensive compared to our current motor.
Yes, but what if these motors have lower maintenance?
Hmm, could be. But most are more expensive to install.
But what about the increase in lifespan of the motors?
Oh, I guess I was always concerned with up-front cost – I
didn’t think about longer-term savings.
Electric Motors, Inc.
Need-payoff:
 If I’m understanding you correctly, what you need is a solution that
will save you money – either from a lower purchase price, or one
that will save you money over the life of the motor – is that right?
 Yes, I guess that’s true.
 And that’s easier and cheaper to maintain?
 Yes.
 Maybe one that requires so little maintenance that you could send
some of your maintenance people to other departments?
 Yes, I’d be a real hero around here!
Electric Motors, Inc.
Lead in to Presentation:
I’d like to show you the specs on the Elmo 5000. I think
you’re going to be pleased with the money you’ll save over
the life of this motor!
Would that be of interest to you?
Super Service Contract, Inc.
Provider of maintenance services.
SWOT Analysis
Strengths
 On call 24/7/365.
 Reps trained by us.
 Factory parts – meeting all
specs, and 100% in stock.
 Equip only 10 years of 20 year
lifespan, but maintenance is
more expensive with time.
Weaknesses
 Contract costs $10,000 per
year.
 Factory parts 10% more than
generics.
 Equipment usually reliable.
 New equipment coming down
in price.
Super Service Contract, Inc.
Situation:
How many of your staff currently maintain equipment?
10 full time staff
Do they receive training on this type of equipment?
When they start – sort of spotty after that; mostly inhouse.
How often does the equipment get serviced?
About twice a year unless there are problems.
Super Service Contract, Inc.
Problem:
Has the frequency of down-time been pretty
consistent?
It’s broken down twice this year – before it was about
once a year.
Has your staff been able to handle repairs?
Yes, except when the frammeter blew a modulator,
then we had to special order parts.
When do breakdowns generally happen?
Ha! Sunday night at about 9:00PM when the system
kicks back in to get the building heated up for
Monday morning.
Super Service Contract, Inc.
Implication:
Whew! Does that cost a lot of overtime?
I’ll say!
Do you have the spare parts you need in those cases?
Sometimes – usually just the small parts.
What happens if the building doesn’t get warmed up by
Monday morning?
The tenants, and my boss, are pretty annoyed.
Super Service Contract, Inc.
Need-payoff:
 If I’m understanding you correctly, the equipment has begun to
require more maintenance, which has increased operating costs. Is
that correct?
 Yes.
 So if I can show you how to save money on maintenance – and
how to keep the tenants, and your boss, warm on Mondays – that
would be of interest?
 Yeah, I guess it would!
 And would it also be nice to increase effective useful life of the
equipment 3 to 5 years?
 Yes, that would definitely make my boss happy!
Super Service Contract, Inc.
Lead in to Presentation:
Would it be of interest to you to see how our service
contract can accomplish these goals?