7 Steps Sales Presentation
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STEP 2: The Qualification
© Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Lloyd Lofton has 30 years of door-to-door, call center; business-tobusiness and needs based selling experience. He is a successful business leader who has led large sales distributions who produced 50 million or more a year in sales, who has led recruiting efforts that resulted in hiring more than 2,000 sales professionals in one year and who has trained hundreds of managers, from field sales leaders to executive level leaders. As Seen In:
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Copyright © 2014 by Lloyd Lofton All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.
© Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
The Qualification is to discover the prospect’s needs and determine what solutions you can offer. Part of The Qualification is “fact-finding” – uncovering important information to be able to accurately assess the prospect’s needs and offer appropriate solutions. Objective: To discover the prospect’s needs and determine what solutions you
can offer.
The Qualification is a critical step because it allows you to accurately assess the needs of the prospect, while at the same time pre-qualifying the dominant buying motive and desire to pay for recommended solutions. It is important to continue to develop the relationship with the prospect as you work toward assessing their needs.
Key Phrase: THE QUALIFICATION “Before I tell you about our Company and the products we offer, there are a few things I need to know about your present situation. Do you mind if I ask you a couple of questions so I can determine what best fit your needs?” Using a Fact Finder, you will uncover:
What the prospect likes Why did they purchase a particular product/service? Why did they select a particular company? Why did they select a particular salesperson? What the prospect does not like Warranty? Guarantees? Price? Features? Customer service turnaround? What the prospect really needs Was the product they currently own their own choice or was it their salesperson’s choice?
What benefits/features are most important to them?
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NOTES: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
FACT FINDING Purpose of Fact-Finding
To see if you can do business You and your prospect generally are strangers so this fact-finding step helps to determine whether or not you can do business with this prospect. This step saves valuable time both for you and your prospect. If you cannot do business, ask for referrals and politely close the interview.
To indicate where and how business should be conducted The sales situations existing in a given sales interview are best uncovered and pinpointed using a fact finder. This step uncovers the needs for both you and for your prospect. You are able to acquire personal information about your prospect- their thoughts, attitudes, values, interests, and desires. This second kind of information provides the key to motivation. By uncovering personal objectives, your presentation can be based on what the prospect really wants and needs. This provides the foundation for closing the sale.
To impress upon the prospect that his/her needs have been fully considered in an open, honest way.
The prospect recognizes you are not just peddling products but offering solutions to his/her problems. In addition, digging into this information during fact-finding is likely to bring out hidden objections early in the interview, and you will not have to deal with them during the close when they can be used as reasons not to buy.
To position a prospect to buy rather than be sold As the needs are exposed, favorable circumstances prevail to provide solutions of which the prospect may take advantage.
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NOTES: ____________________________________________________________________ ____________________________________________________________________ ____________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Use Key Phrase 2 and the Fact Finder Using the Key-Phrase “Before I can tell you about our company and the products we have to offer there are a few things that I need to know about your situation. Do you mind if I ask you a couple of questions so I can determine what best fit your needs?” The Fact Finder has several advantages:
You know what information you need to obtain You do not forget to ask for pertinent information It provides a place to record the information You build prestige with your prospect because you are seen as professional, organized, and efficient The process is legitimized – people are psychologically used to filling out forms Key to Fact-Finding The most important key to fact-finding is your ability to listen 1. Watch for non-verbal signals which support or contradict what your prospect says 2. Listen carefully for what the prospect indicates are his/her problems, desires or conflicts 3. Listen for product needs of which your prospect is unaware 4. Listen carefully for “hot buttons” or topics your prospect feels strongly about. Raising these topics can help trigger the sale. Building the Relationship
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During this step, it still remains important to remember the key skills to build the relationship with the prospect. While collecting the information on the Fact Finder, keep the following relationship skills in mind:
Make eye contact. Use the prospect’s name. Listen and record responses accurately. Prioritize responses. DO NOT SELL. DO NOT EXPLAIN PRODUCTS.
© Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Trying to “push” products at this point can have a negative impact on the outcome of the sale. Though you can mentally be thinking through possible product options, wait until the Fact Finder has been completed before attempting to offer product solutions.
THE KEY IS TO ASK QUESTIONS. TALK LITTLE AND LISTEN MUCH! For example, you might ask: “Mr./Mrs. (Prospect) when you chose your current [product/services] what
benefits and features were most important to you?” Ask why the prospect:
Purchased a particular product/service? Selected a particular company? Selected a particular salesperson? Chose the current discount, options, etc.? Made these choices? (Was it their choice?) Likes and dislikes regarding their current product/service?
Note: Use the appropriate presentation to develop the “need.” Unless the
prospect agrees that “it” (for example options, up sale item or some other potentially costly event) can happen to them, you will not have a sale.
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NOTES: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Fact Finder The Fact Finder is a valuable tool for collecting relevant information on the prospect’s current needs. As you complete the form, you will be making mental determinations regarding possible solutions and the potential costs for these solutions. At this point, any cost estimate is for your use only. Summarize your findings by listing the needs identified. Protection Needs:
Protection Solutions
Protect assets Protect income
Your products Your services
Saving for retirement
Your professional consultation
Reducing tax burden Help with revenue and marketing
HANDLING OBJECTIONS At any point during the 7 Steps Sales Presentation, prospects may offer objections or signs of resistance. Recognizing how to respond to their resistance will help you move forward with the sale and build the relationship. Whether or not you get beyond this point in an actual presentation, remember that every presentation gives you an opportunity to strengthen your sales skills.
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7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Recognizing Signs of Resistance In this step, the most common form of resistance will be expressed nonverbally. Reducing or Eliminating Resistance To reduce errors in communication:
Use everyday vocabulary. Avoid using industry language, technical terms and acronyms only you would understand.
Speak clearly. Let the prospect set the pace of the conversation. Maintain good eye contact and smile. Pay close attention to the speaker. Pay attention to nonverbal signals. Focus on remembering what was said. Use questions and statements that affirm you are listening to the prospect. Keep your emotions in check so as not to distort the message.
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NOTES: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Three Steps to Handling Objections One of the biggest mistakes sales people make is to try and fight the prospect’s objection. When you fight an objection your prospect’s sales resistance goes up and the sales process becomes much more difficult. Instead of battling with your prospect, align yourself with him or her and reinforce you are on the prospect’s side. By aligning with your prospect, you validate any concern, which lowers sales resistance and makes objections much easier to overcome. It is important to validate the prospect’s concern because you want to: 1. Demonstrate empathy. 2. Acknowledge prospect’s feelings. 3. Provide emotional concern. Begin asking effective questions. It is important to begin asking effective questions to:
Find out specifically what they don’t like Find out specifically what they do like Two things to remember when completing this step: 1. Get permission to ask effective questions. 2. Be polite.
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NOTES: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Gaining Commitment Once you have completed the Fact Finder it is important to summarize your understanding of the primary concerns the prospects have, that is what will cause them to make a change. Summarizing not only helps your prospect “feel” you understand their concern it telegraphs the message that you are there to complete an contract/application and get a check. You summarize by confirming: 1. The two things they are most interested in changing 2. The two things they would like to keep in a plan 3. The most important “feature” and “benefit” they want 4. The monthly amount they “WILL” pay to get what they want 2. That they are “NOW” willing to see if they qualify
“John/Mary let me see if I understand; when you got your current [product/service] because during the previous year you had [use of feature of product/service]. Now you would like to reposition some of your cost and [change of benefit using your product/service] exchange for [your corresponding product/service]? If we can help you design a plan to do this then you are interested in going forward to see if you qualify to apply is that correct?” Gaining commitment at this point does several things: 1. Helps you determine if your prospect is serious or curious about making a change 2. Let's your prospect know you are there to do business 3. Brings objections out up front, where they should be handled, reducing sales resistance at the close The idea of answering objections is to: •
Provide enough information for the prospect to make a buying decision TODAY.
Rebuttals are designed to provide you with enough information to assist the prospect in making a buying decision TODAY.
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NOTES: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632
Rebuttal Key Phrases: HANDLING OBJECTIONS Prospect: “Why do you want to know that?”
Phrase 1: “That’s a good question. One of the ways we will build a solution you feel
meets your needs is to first determine what you may qualify for; we do this based on your [your product/service requirements to purchase/credit approval/delivery/etc]. For example are [state a minor qualification requirement}?” (Continue qualification step)
Phrase 2: “I am glad you ask. When building a solution there are several things that affect your cost, one of which is [state a product/service cost example around a feature]. For example what do you [state a product/service benefit ROI]?”
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NOTES: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ © Lloyd Lofton– 2014 http://lloydlofton.com/
7 Steps Sales Presentation – STEP 2: The Qualification 865-776-7632