10 Reasons Why Sales always Rocks!

The function of Sales has stayed the last choice of youth in India, even though 75% of them are finally employed with this function of management only. Let us look closely at what is so special in this function of Sales which makes it rock for all those who understand the function of Sales!

Why the function of Sales always rocks for its practitioners?

1. Sales is a recession proof, future proof function. Irrespective of the economic condition and technology advancement in the world, the sales person will always be required.
   

2. The importance of Sales Function is directly proportional to the degree of complexity in the minds of customer. The more the customer thinks about his need fulfillment the more is the salesperson required.
   

3. Sales is the only function of management which directly brings money to the company. All other functions directly use the money that Sales brings into the system.
   

4. A salesperson who can sell well, does not even have to touch his salary. Incentives are good enough to cater to all demands of life.
   

5. No business can survive on a single transaction with the customer. It is only sales which helps a marketer achieve the LTV (Life Time Value) of the customer.
   

6. Sales is the only employment opportunity which does not gauge you by your educational qualification alone. This is surely good news for all who hate studies.
   

7. Recruitment in Sales increases when recession is high in the market.
   

8. Sales is transparent to the industry vertical. Every industry needs salespersons.
   

9. Sales methodologies will change with time. Sales roles will definitely change with times. Sales however is as permanent as change.
   

10. Sales is the only function through which one can do demand forecasting, target setting and therefore budgeting and strategic planning.
    

A salesperson bridges the gap between the customers understanding and the producers imagination.

A customer always makes stories about your product or service, Salesperson ensures that customers narrative is the same as the salesperson’s narrative.

Sales is the only function of management which directly brings revenue to your organisation.

In Sales, salary is saving and incentive is to be used as expense.

Sales helps a marketer to realise the LTV of a customer.

Your educational qualification does not help you in Sales. It is only Sales that can help Sales!

Sales is both the cause and effect of recession.

Sales is a non dispensable function in our business.

The need for Sales is permanent.

Sales translates all your planning into action.

May the tribe of salespersons increase in this world!

8 Storytelling Plots of Customer

The mind of the customer is known to be creating stories in their own mind about the products and services that they delve to buy. Once your product enters their consideration set, a lot of storytelling happens in the potential customers mind.

What kind of story telling does the customer do to himself?

Let us look at some of the plots of stories that customer starts telling himself.

Bad Salesman

1. This salesperson will methodically loot me.
2. This salesperson is trying to sweetly outsmart me.
3. This salesperson looks similar to the one who fooled my cousin brother once.

Stupid Customer

1. Everyone will laugh at the customer for being fooled into paying a high price.
2. A friend proves that he is a smarter purchaser.
3. A friend was able to purchase the same product at a better price (better deal)

Product fails to perform

1. The product could not perform.
2. The seller could prove that the product failed due to customers mistakes.

I am sure that once you think deeper into this topic, you will be able to come up with many more such plots that customers come up with and start storytelling in his own mind.

What should the salesperson do to handle the customer’s stories?

Probing Skills

1. Answer the questions of customers with a relevant question.
2. Practice the 5 levels of “Why?” to relate the cause and effect.
3. Use the Fishbone diagram process to reach the cause behind what the customer is saying
4. Become hungry to know the 5W1H scenario of every discussion with the customer.
5. Learn to arrive at the truth. Do not be in a rush to tell the truth.

Decode the Story

1. Understand the plot of customer’s story.
2. Reiterate your understand to the customer with empathy.
3. Create your character in the customer’s story.
4. Play the good man character in the customer’s story.
5. Attack the “Cause”. Do not waste time in dealing with the “Effect”.

Now that all of us are aware that a customer will create story to himself it is important for all salespersons to learn how to decode customer’s story and weave the deliverable into a complementary story that he will tell to the customer. Remember customer’s think about a story and salespersons tell a story which complements the customer’s thought process of an apparent story.

Do you Craft your Sales Pitch?

A salesperson while presenting or demonstrating the concept that he represents uses 

a Sales Pitch to communicate to his prospect. The first 2 minutes of your download is

 the elevator pitch and it is of paramount importance that you gain entry into the 

mindset of the prospect during this part of the sales pitch or else the prospect might 

hear you and yet not listen!

Why is Sales Pitch so Important?

The importance of Sales Pitch can be seen in the following statistics:

1. 20% of the top salespersons close 80% of the sales deals in any industry.
2. Human beings think only 1% consciously and 99% sub-consciously. Hence sales pitch must address the sub-conscious mindset
3. Prospects are left brainers and right brainers. Each category needs a separate sales pitch to be effective.

• Prospects are influenced by reading reviews about your product even before you start your sales pitch.

Most Common Mistakes in Sales Pitch

1. Do not flaunt the Features of your product. It has very little meaning for the customer. (Instead tell Benefits)
2. Do not use jargons or technical terms to impress the customer. It actually confuses him.
3. Do not tell the truth. ( Instead try to arrive at the truth through storytelling)
4. Do not try to convince the customer by becoming the advocate of your product or service. Instead give enough benefit inputs to the customer so that he convinces himself to buy your product or service.
5. Do not try to tell any problem of yours to your customer. He is least interested in the same even if your problems are genuine. (e.g. Labour cost is very high in my factory)

Ingredients of a good Sales Pitch

1. Start to create a conversation. Monologues spoil your sales pitch. It must be a dialogue where the customer willingly participates.
2. Research well before sales pitching as you are expected to provide solutions to your customer which translates into financial benefits for the latter. You surely cannot do this without properly researching the customer. Your insights must answer the question “What is in it for me?” in the minds of the customer.
3. Sales pitch must be given to the decision maker only.
4. The compelling benefits and insights highlighted by you in your pitch must give the customer a vision for the future.
5. Objections, if any, raised by the customer during the sales pitch must be handed with kids gloves. Try to avoid getting into arguments. If you can, please postpone all debates for the future.
6. Always listen to the customer to understand him/her rather than to reply to him/her.
7. Your sales pitch must create a sense of urgency in the minds of the customer.
8. Your sales pitch must give additional value to the customer; over and above what he/she would normally expect from you.
9. Always end your sales pitch with “The Way Forward”. We can also call it CTA (Call to Action)

Strategy for a good Sales Pitch

1. Don’t you agree? Make a compelling statement and end the same with this question.
2. Create a dichotomy. Tell a Truth A which is good and follow it up with Truth B which is bad. Follow this up by creating a dichotomy between good and bad.
3. The principle of Demo. It is always a good idea to show a demo during the sales pitch , wherever possible.
4. Arouse the audience interest by storytelling.
5. Strike an emotional appeal with your audience.
6. Educate and Inspire
7. Paint a picture by vivid storytelling.
8. Flattery of customer helps you replace self doubt in the minds of customer with self esteem.
9. The Pique Technique: This is a persuasion strategy believed to work by raising the listener’s curiosity and thus disrupting the automatic “No” and encouraging you to engage with the asker.

Words that must be used in a good Sales Pitch

• Advantage
• Amazing
• Avoid
• Bargain
• Because
• Best
• Brief
• Easy
• First
• Fix
• Free
• Help
• Imagine
• Improved
• Instant
• Now
• own
• Remember
• Save
• Thank you
• Unusual
• Value
• Welcome
• You

By now , you must have developed a comprehensive view of how, why and where

to pitch your sales pitch.

Remember, a job well begun is half done!

Is Sales Managing You?

Is Sales Managing you? This is a question which all of us want to overwrite with the 

answer “I am managing my Sales”. What is there in this function of Sales that it ends

 up managing you if you do not know exactly what is there in it to manage for you.

• Managing Sales Team
• Managing Sales Funnel
• Managing Sales Competition
• Managing Sales Fatigue

Managing Sales Teams

In order to manage sales teams , you must understand that attrition rates are high in

 sales teams and hence you must have the capability to hire quick enough and have

 a good “bench strength”. The team selected in sales must undergo a structured 

training program of induction and anything to do in sales should not be based on

 instincts. Making use of technology for daily reporting and BI so that you are able

 to lead effectively.

Managing Sales Funnel

• 

The conversion of leads into Sales is a journey which the Sales Management has to 

closely monitor. The sales funnel ratio’s should be healthy and the velocity of

 movement of leads into sales is very much dependent on the sales manager. Inside

 the funnel, structured process that ensure conversion of Marketing Qualified Lead 

(MQL) into Sales Qualified Lead (SQL) and finally BANT (Budget, Authority, Need and

 Timeframe) leads. Once the leads mature into an opportunity customised 

proposals are given only if one is able to conduct a structured need analysis. 

Good proposals convert into a negotiation opportunity and finally to sales.

Managing Sales Competition

Know yourself well

It is important to know your product mix well so that you know where you enemy can

 attack you first. The BCG matrix shown above will give you an idea of the “dog” and 

“Question mark” products.

Once you have analysed your self well, keep in mind the following sins that you can

 make in handling your competitors:

• Do not be the first to mention your competitors name
• Do not attack the competitors products or services
• Do not agree to a product comparison with competitor
• Do not ask as to what your customer likes about your competitor

Managing Sales Fatigue

For sure all sales managers must understand the following stress curve and deal with

 their sales teams accordingly.

• 

If the Sales Manager also understands the nuances of the following root cause 

analysis of sales fatigue, it will serve him well.

• 

The 5 lines of defense shown above is a checklist for all Sales Managers to ensure

 that sales fatigue, burnout and overdose syndrome does not spoil the effectiveness

 of good sales teams.

In a Nut shell

• 

These 4 pillars of Sales Mangement summarises the challenge of Sales Management.

For more details of this topic, visit us for Sales Ki Pathshala every Wednesday from

 9-10 am or email us on sanjay@consult4sales.com