selling skills
TRANSCRIPT
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State Bank Staff College, Hyderabad
SELLING SKILLS
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How does a customer buy? Buying is not one but a bunch of 5
decisions1. Your integrity and judgment
“you are there to take or give.”
2. Your company is dependable and has a good after-sale service;
“you may make a distinction between yourself and your company, but your prospect does not. “
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3. Product or Service- Suitability, quality, delivery.
4. Price. Value for their investment. ( VFM)
5. “When” because no one wants to spend money before it’s necessary
“People Buy Not because they understand your Product or
Service, but
because they feel YOU understand THEM.”
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Personal Selling
Direct personal communication to influence target audience
Oral presentation in conversation with existing and prospective customers for the purpose of making a sale.
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Objectives of Personal selling
Providing Information Persuading Establishing a relationship Building a relationship Sustaining the relationship
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Distinct Features
Oldest method of business promotion
Most reliable promotion method Expensive method of promotion One cannot live without it
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Advantages of Personal Selling
Flexibility in terms of tailoring the sales presentation.
Two way communication and face to face interaction.
More time and opportunity to convince customers.
When we talk to customers they change their positions to adopt new buying patterns or behavior.
More opportunity to understand clients. Helps to establish rapport with the client.
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Steps in the Selling Process Preparation Prospecting and Qualifying Pre-approach Approach Identify the Need Solution to satisfy the need.
Sales Presentation- AIDA Handling objections Closing the sale Post sale follow up
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PREPARATION – 4 Cs
Know Your
Commodity / Product Customer Competitor Company
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Active listening Is a two way process of communication
A sends a message B receives the message. Involves concentration and
working out the implications of the message. B state back what has been understood, but makes
no evaluation. A agrees with the B’s interpretation or resends the
message if any misunderstanding has occurred, till the message is properly under stood
2 Techniques Summarizing (message) Reflecting (feelings)
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Prospecting Clients “Separate the prospects from the
suspects”
Branch dossier / Branch database Identify potential for buying in existing clients Reference from existing clients Winning back lost customers Customer call register / enquiry register Attracting competitors’ customers Newspaper Advertisements Sub-registrar office, Urban development authority etc Pensioner’s list, employees list from govt. depts., Corporates etc Directories, Trade Associations like Chamber of Commerce,
District Industries Centre etc References from Staff Cold canvassing i.e. door to door
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Pre-approach Find out about the needs of the
customer Fix prior appointments
Approach ‘First Impression Counts’ Meet the customer with a positive
frame of mind Make an impact on him. Ice-Breaker
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Identify Need Probing (Gentle, Discreet & Non
Aggressive) Solution to satisfy the need
Identify suitable product & make a Sales Presentation.
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SALES PRESENTATION –AIDA PROCESS
Attention Interest Desire Action
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Handling objections
Sometimes objections are not to the Bank but to the person marketing.
Just the fact that they do not like the Bank.
Gaps in either their understanding or in the adequacy of information.
The person is afraid to take a decision. Objection should be clearly understood
and addressed immediately.
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Closing the sale – Non-verbal buying signals
Slow head nod With a smile Extensive pupil dilation Gestures that show interest Buyers possessiveness
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Post sale follow up
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An example of a chart
Our Rates are lower!
They
15% We
12%
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Selling Tips Know more about the customer Prepare Tables & Charts Be appropriately dressed and make a
favorable impression Better to take an appointment rather
than just dropping in on a customer. Be punctual, never be late Practice Basic Etiquette and
courtesies
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Selling Tips Spend a minute or two making
polite enquiries Do not waste the customers time Ask questions and listen to the
answers Set goals and determine to be
successful
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Selling Tips
Try to build relationships, not to sell products
Tell the truth. Integrity has long term value Be a financial advisor, not a salesman We should be convinced ourselves. If we
are not convinced, clients will not be! Provide responsive and anticipatory after-
sales service
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Ways to promote business through Personal Selling Creating the right setting in the office Interacting with clients visiting our office Making corporate presentations Visiting residences/offices of clients
based on prior appointment Contacting clients over phone at
periodical intervals ‘Customers prefer talking to listening’