The Power of Selling 3 -1 This

The Power of Selling 3 -1

This work is licensed under the Creative Commons Attribution-Noncommercial-Share Alike 3. 0 Unported License. To view a copy of this license, visit http: //creativecommons. org/licenses/by-nc-sa/3. 0/or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA 3 -2

Chapter 3 The Power of Building Relationships: Putting Adaptive Selling to Work 3 -3

Video Case • The video, The Power of Relationships, features Tonya Murphy, General Sales Manager at WBEN-FM • In the video, she discusses the importance of relationships in the selling process 3 -4

Video Ride-along Discussion Questions • Discuss the importance of building relationships in the selling process. • As a customer, recall a situation where the salesperson’s approach was more like a trusted friend. Discuss the approach taken by the salesperson. Did it influence your purchase decision? 3 -5

Chapter Objectives • Understand why relationships are so important in selling. • Explain how relationships bring value through consultative selling. • Identify who wins in the triple win relationship model. • Explain how networking builds relationships and businesses. • Explain the concept of adaptive selling and how to use it. • Understand how the social style matrix can help you be more effective in sales. • Understand the role of relationships and networking in your job search. 3 -6

The Power of Relationship Selling • To be successful in selling you have to make selling personal • People do business with people, not with companies • Relationship selling / consultative selling: Working personally with your customer to understand their needs, putting their needs first, and providing consultation to help them make the best decision for themselves or their business 3 -7

From Personal to Problem Solving • Give the customers what they need rather than what you want to sell them • Brands must understand how important each moment of truth is when creating relationships with customers – Moment of truth: The moment the customer comes in contact with the brand • Customer relationship allows you to bridge the gap between a customer’s problem and the solution 3 -8

From Personal to Problem Solving • Jeffrey Gitomer presents his theory on the single most important rule of selling • Jeffrey Gitomer is an American author, professional speaker, and business trainer, who writes and lectures internationally on sales, customer loyalty, and personal development • In the video, Jeffrey Gitomer explains that liking leads to trusting and if the customer likes you, believes you, has confidence in you, and trusts you then he/she may buy the product/service from you • According to Jeffrey Gitomer, it is very important that before becoming a trusted advisor the salesperson should become a friend Source: Buy Gitomer, Inc 3 -9

From Personal to Problem Solving • Consultative selling – It makes a customer choose your product or service even when the competition is priced lower – It defines the relationship before the sale, during the sale, and after the sale 3 -10

CRM Tools Help you Manage Relationships • Customer relationship management (CRM) tools: Technology solutions that organize all of a customer’s interactions with a company in one place – Makes it easier to understand the lifetime value of a customer – Starbucks uses a CRM tool to power their My. Starbucks. Idea. com Web site Source: Starbucks Corporation 3 -11

Face Time • Customer relationships in B 2 B selling require face-to-face communication • Meeting with and entertaining customers is an important part of the selling process 3 -12

Fore Relationships • Suzanne Woo describes the secrets of using golf to build business relationships • In the video Suzanne Woo, author of On Course for Business: Women and Golf, shares her tips on using the game as a business tool • According to Suzanne Woo, the golf course is not a place to talk deeply about a business issue, but a place to know, for your next business meeting, the agenda and what to talk about Source: BNET 3 -13

R-Commerce • It is relationship marketing, which establishes and builds mutually beneficial relationships “Little things mean a lot? Not true. Little things mean everything. ” Harvey Mackay 3 -14

Trust Me • Trust is a critical element in selling – It is built on open and honest communication – It is about building partnerships “Consultative selling is less about technique and more about trust. ” Tom Reilly 3 -15

Trust Me • The video, Introducing Jeffrey Gitomer's Little Teal Book of Trust, provides highlights of the breakthrough book, Little Teal Book of Trust: How to Earn It, Grow It, and Keep It to Become a Trusted Advisor in Sales, Business and in Life, by Jeffrey Gitomer • Through the book Jeffrey Gitomer has asked two important questions, “Who do you trust? ” and “Who trusts you? ” Source: Buy Gitomer, Inc. 3 -16

Underpromise and Overdeliver • The best salespeople say they will do something by a certain day, and then not only do they do it, but they deliver it one day early • Trust is built between salesperson and customer, and the relationship goes to the next level: partnership 3 -17

When Times are Tough • Deliver bad news using the following practices: – Open – Honest – Timely communication 3 -18

The Good News about Bad News • Sally Cordova from Mc. Kee Consulting talks about customer relationship management and how to keep a customer for life • In the video, Customer Service Five Ways to Deliver The Bad News, she discusses the tips for five ways to deliver bad news the right way Source: Sally Cordova, Mc. Kee Consulting, LLC 3 -19

Triple Win: The Ultimate Relationship • Triple win: All parties in a relationship win—your customer, you, and your company or organization – It results in more business with your existing customers because you have become a partner in solving their problems, and it brings you new business in the form of referrals – It plays a significant role in the negotiating process 3 -20

How do you Bring Value? • In the video, Give Value First, Jeffrey Gitomer discusses the value of providing value to customers • He explains the importance of giving value to the customers without any expectations Source: Buy Gitomer, Inc 3 -21

How do you Bring Value? • What is the difference between value-added services provided to the customers and giving value to the customer? Discuss with few examples. • A flat 50 percent off on an apparel brand can be considered as which of the following: promotion or giving value to the customer? Discuss. 3 -22

Networking: Relationships That Work for You • Networking: Art of building alliances or mutually beneficial relationships • You should network; it’s a requirement to stay competitive, because it’s virtually impossible to do your job alone • Building strong relationships with customers is an excellent way to build your network 3 -23

Networking Tips of the Trade • Start with people you know • Join and get involved in professional organizations • Attend industry events • Keep in touch • Create a profile on the major professional social networks • Be proactive • Mind your manners 3 -24

Twitter Sells • The video, How To Use Twitter To Network Before a Conference, features Mig Pascual • In the video, he tells his story on how he used Twitter to engage and build professional relationships with people online prior to meeting them in person at a conference 3 -25

Putting Adaptive Selling to Work • Adaptive selling: When a salesperson adapts, changes, and customizes her selling style based on the situation and the behavior of the customer • The cornerstone of adaptive selling – Understanding diversity, or the different ways people behave 3 -26

The Social Style Matrix • It is based on patterns of communication that characterize communication behavior based on two dimensions: – Assertiveness – Responsiveness • Each of the social styles has specific characteristics that are important to keep in mind as you prepare and present your sales presentation 3 -27

Figure 3. 4 - Social Style Matrix 3 -28

The Social Style Matrix • Analyticals – They want to know “How” • Drivers – They want to know “What” • Amiables – They want to know “Why” • Expressives – They want to know “Who” 3 -29

Table 3. 1 - Selling Style Summary Insert Table 3 -30

What is Your Selling Style? • Take the Keirsey Temperament Sorter to determine your social style • The Keirsey Temperament Sorter is the most widely used personality instrument in the world that helps individuals discover their personality type Source: Keirsey. com 3 -31

Selling U 3 -32

Networking—The Hidden Job Market • Six power networking tips – Network with confidence – Join professional organizations – Create your networking list – Know what to say – Online professional social networking – Follow-up 3 -33

Networking—The Hidden Job Market • Social networking tips – Make yourself stand out – Publicize your profile – Ask for recommendations – Join groups – Create content – Search the social networking job boards 3 -34

Table 3. 2 - Sample Networking List Insert Table 3 -35

Figure 3. 5 - Sample E-mail for Networking 3 -36

Summary • Relationships are vital to success in most selling situations. When you understand what the customer wants and needs, you can provide solutions to help your customer meet his goals • Adaptive selling occurs when you adapt and customize your selling style based on the behavior of the customer • Networking is about exchanging value, not collecting business cards 3 -37