Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Definition of Personal Selling • Personal selling – 1) two-way flow of communication 2) between a buyer and seller 3) a face-to-face or real time encounter Why are “ face to face” and “two-way” important?
Provides a detailed explanation or demonstration of product Message can be varied to fit the needs of each prospective customer Can be directed to specific qualified prospects Instant feedback Personal persuasion can be used “A good salesman can get you to buy ice in winter” Advantages of Personal Selling
Product has a high value Product is custom made Product is technically complex There are few customers Customers are concentrated Selling image, not product When to Use Personal Selling
Creating Value Through Salespeople Relationship Selling • building ties to the customer, based on a salesperson’s attention and commitment to customer needs over time.
1) Prospecting 2) Pre-approach 3) Approach 4) Presentation 5) Close 6) Follow-Up Six stages of Personal Selling
Personal Selling: Prospecting • Prospect- possible customer • Qualified Prospect-customer who has desire, means and power to decide • Cold Canvassing- seller initiated contact of,potential customers without advance warning.
Personal Selling: Pre- Approach & Approach 2) Pre-approach-Gathering information (when to call, income level, risk tolerance) 3) Approach-First meeting (Physical impressions highly important-appearance, timeliness, confidence)
Personal Selling:Presentation A) Stimulus-Response Format – (suggestive selling) keep suggesting items until the buyer responds, like the McDonalds order taker B) Formula Selling Format – more formal and planned, like a telemarketer Canned Selling Presentation Memorized, standardized message conveyed to every prospect. Works when seller is a novice or does not know the buyer well
Need-Satisfaction Format- Let the customer do the talking- Salesman probes, listens then suggests, like a financial planner • Adaptive Selling- pro-active but selective presentation of offerings, based on pre-approach data • Consultative Selling – re-active presentation for problem solution Personal Selling: Presentation
Handling Objections • Acknowledge and Convert the Objection- use the objection as a reason to buy (expensive) • Postpone hold off answer because next info will convince buyer (complicated) • Agree and Neutralize show the objection’s insignificance (side effects) • Denial refute objection with clear facts Personal Selling: Presentation
Trial Close-”Can I put you down for blue or green?” • Assumptive Close-ask about delivery or warranty choices. • Urgency Close-”Offer valid for today only.” • Final Close-Buyer initiated acceptance of the sale. Personal Selling: Close
Personal Selling: Follow-Up Address concerns with delivery and installation, so today’s customer becomes tomorrow’s qualified prospect or referral source
Compensation • Straight Salary Compensation Plan • Straight Commission Compensation Plan • Combination Compensation Plan Sales Force Motivation
Sales Force Evaluation • Quantitative Assessments – sales quotas easy but ignores selling environment • Qualitative Assessments – behavioral evaluations • attitude • attention • product knowledge • selling skills • appearance and professionalism
Personal Selling Personal selling involves thetwo-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision.
Personal Selling Process The personal selling process consistsof six stages: (1) prospecting,(2) preapproach, (3) approach,(4) presentation, (5) close, and(6) follow-up.
Adaptive Selling Adaptive selling involves adjustingthe presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information.
Consultative Selling Consultative selling focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution.