Professional Sales An Introduction Traditional Marketing Mix Product Advertising Price Promotion Sales Promotions Direct Marketing Distribution Personal / Professional Selling Public Relations What is Professional Selling? • Professional selling is the interpersonal communication process in which a seller uncovers and satisfies the needs and wants of a prospect to the mutual, long-term benefit of both parties The Advantages of Personal Selling What are some of the advantages of personal selling? • Flexibility and adaptability • Less waste than with advertising • Helps hold on to repeat customers • Answers customers questions • Immediate and clear feedback provided Limitations of Personal Selling • Costs may be greater than advertising expenditures. Why? • Many customers want self-service • Poor image in many consumer's eyes Transaction-Focused vs. Relationship Focused Transaction-Focused o Short term thinking o Making the sale has priority over most other considerations o Interaction between buyer and seller is competitive o Salesperson is self-interest oriented Relationship-Focused o Long term thinking o Developing the relationship takes priority over getting the sale o Interaction between buyer and seller is collaborative. o Salesperson is customeroriented Building Relationships • Satisfied customers repeat their purchases because they are satisfied with the value of the relationship – Taking care of existing customers reduces sales cycle time and increases efficiency. – What does this mean? Word Association,….. Provide both positive and negative words and impressions of the term “salesperson” Why are there these perceptions? What’s Happening Pepsi Case Competition http://www.businessinsider.c om/new-guinness-ad-breaksthe-mold-2013-9 Selling,….. • Selling has been around since there were goods to trade. • The role of the salesperson has evolved . . . becoming more professional and structured. • Salespeople play an important role in creating and maintaining a strong economy. • Salespeople are solution providers (Advisors). • Sales is a process focusing on initiating, developing, and enhancing customer relationships. Effective Selling in a Highly Competitive Selling Environment • Salespeople must do their homework and prepare before meeting with prospects – – – – Study the market Study the prospects’ needs Put the customer first Engage in continuous learning and professional development Understanding the Customer • To motivate the prospect to buy or consider a product or service salespeople must: – Understand how their prospect’s mind works (a customer behaviour approach) – Be able to uncover the prospect’s hidden needs or wants Ethical Dilemma Alternative Personal Selling Approaches • • • • • Stimulus Response Selling Mental States Selling Need Satisfaction Selling Problem Solving Selling Consultative Selling Adaptive Selling: the ability of a salesperson to alter his/her sales messages and behaviors during a sales presentation or as they encounter different sales situations and different customers. Stimulus Response Selling Simple in design; assumes conditioned response improves likelihood of success; a risky and unreliable strategy. Mental States Selling Assumes buyer can be led through mental states; promotes one-way communication; a risky and unreliable strategy. Need Satisfaction Selling Interact with buyer to determine existing needs; present solutions to needs; solutions limited to seller’s products. Problem Solving Selling Interact with buyer to determine existing and potential needs; present multiple solutions not limited to seller’s products. Consultative Selling LongTerm Ally Business Consultant Strategic Orchestrator The process of helping customers reach their strategic goals by using the products, services, and expertise of the selling organization.