Strengthening The Strengthening The PresentationPresentation

Chapter 10Chapter 10

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Important Questions Important Questions AnsweredAnswered

► How can salespeople use verbal tools to How can salespeople use verbal tools to strengthen the presentations?strengthen the presentations?

► Why do salespeople need to augment their Why do salespeople need to augment their oral communication through tools such as oral communication through tools such as visual aids, samples, testimonials and visual aids, samples, testimonials and demonstrations?demonstrations?

► What materials are available to strengthen What materials are available to strengthen the presentation?the presentation?

Contd.

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► How can salespeople utilise visual aids and How can salespeople utilise visual aids and technology most effectively?technology most effectively?

► What are the ingredients of a good What are the ingredients of a good demonstration?demonstration?

► Is there a way to quantify the Is there a way to quantify the salesperson’s solution to the buyer’s salesperson’s solution to the buyer’s problem?problem?

► How can salespeople reduce presentation How can salespeople reduce presentation jitters?jitters?

Important Questions AnsweredImportant Questions Answered

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Purpose of the presentation

► KnowledgeKnowledge► BeliefsBeliefs► Desire/NeedDesire/Need► AttitudeAttitude► ConvictionConviction

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Three Essential Steps Three Essential Steps Within the PresentationWithin the Presentation

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The Purpose of the Presentation

Main Goal •To sell your product to your customer.

Provideknowledge via

•Features •Advantages •Benefits of your 

•Product •Marketing plan •Business proposal.

Other Goals

Allow buyer to develop positive personal attitudes toward your product. •Attitudes result in desire (or need). •Convert need into want and into the belief that your product can fulfill a certain need.

Convince the buyer that your product is best  •you are the best source from which to buy.

Three Essential Steps Within The Presentation

Fully Discuss Your Product •Features •Advantages •Benefits

2.Present Your Marketing Plan. 3.Explain Your Business Proposition (value/cost comparison).

Don't worry about making the perfect presentation. •It's more important that you truly believe in your product.

Facts About Presentations

Sellers typically presents 6-8 features or benefits in a presentation •Prospect remembers only one •39% of the prospects remember that one thing incorrectly •49% percent remember something that was not even mentioned

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THE SALES PRESENTATION TOOLBOX

Persuasive Communication

                                              

 

Seven factors that help you to be a better communicator: I.Using questions. II.Being empathetic. III.Keeping the message simple. IV.Creating mutual trust. V.Listening. VI.Having a positive attitude and enthusiasm. VII.Being believable.

Construct logical reasoning based on: •Major premise. •Minor premise. •Conclusion.

Make the presentation fun. •Personalize your relationship. •Build trust. •Use body language. •Control the presentation. •Use the Paul Harvey dialogue.

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The Sales Presentation Goal The Sales Presentation Goal ModelModel

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The Sales Presentation MixThe Sales Presentation Mix

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The Ideal PresentationThe Ideal Presentation► Your approach technique quickly Your approach technique quickly

captures your prospect’s interest and captures your prospect’s interest and immediately finds signals that the immediately finds signals that the prospect has a need for your product and prospect has a need for your product and is ready to listenis ready to listen

► The ideal prospectThe ideal prospect Is friendly, polite, relaxed, listensIs friendly, polite, relaxed, listens Says “yes” and enthusiastically thanks Says “yes” and enthusiastically thanks

youyou► Several weeks later you receive a copy of Several weeks later you receive a copy of

customer’s letter sent to your company’s customer’s letter sent to your company’s president glowing with praise for youpresident glowing with praise for you

► Sometimes it happens but many times Sometimes it happens but many times there are difficultiesthere are difficulties

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Characteristics Of A Strong Characteristics Of A Strong PresentationPresentation

Characteristics of a presentation are: Keeps the buyer’s attention Improves the buyer’s understanding Help the buyer remember what was said Offers proof of salesperson’s assertions Creates a sense of value

Contd.

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Keeps the buyer’s attentionKeeps the buyer’s attention A good salesperson knows that only talking A good salesperson knows that only talking

is not enough. To keep the attention and is not enough. To keep the attention and interest of the prospects it is important to interest of the prospects it is important to make use of humour and audio-visual make use of humour and audio-visual devices. devices. Unless the buyer actively involved in Unless the buyer actively involved in the communication process their attention the communication process their attention will probably divert.will probably divert. The buyer's personality The buyer's personality can also affect his or her attention span. For can also affect his or her attention span. For example, one would expect an amiable to example, one would expect an amiable to listen more attentively to a long listen more attentively to a long presentation than, say, a driver would. presentation than, say, a driver would.

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Improves the buyer’s Improves the buyer’s understandingunderstanding

It is difficult to imagine a product or It is difficult to imagine a product or service by reading out a paper or service by reading out a paper or listening about it. On the other hand, listening about it. On the other hand, multiple-sense appeals .improves the multiple-sense appeals .improves the understanding dramaticallyunderstanding dramatically

To help the prospect better To help the prospect better understand, five basic channels may understand, five basic channels may be used: the senses of hearing, sight, be used: the senses of hearing, sight, touch, taste, and smell. touch, taste, and smell.

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Help the buyer remember Help the buyer remember what was saidwhat was said

A presentation is said to be successful if A presentation is said to be successful if what is said is remembered afterwards. what is said is remembered afterwards. Studies show that we learnStudies show that we learn 1% from taste1% from taste 2% from touch2% from touch 4% from smell4% from smell 11% from hearing (only 20% of this 11% from hearing (only 20% of this

we retain)we retain) 82% from seeing82% from seeing

we retain only 50% of what we hear we retain only 50% of what we hear and seeand see

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Offers proof of Offers proof of salesperson’s assertionssalesperson’s assertions

Presentation gives the salesperson an opportunity to prove what he/she claims to be true. Simple talk could be taken as mere claims without any proof. Most people just won't believe everything a salesperson tells them. Creating trust is very important. Communication tools provide solid proof to back up the salesperson's claims.

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Proof Statements Build Proof Statements Build BelievabilityBelievability

► Past sales help predict the future► The guarantee► Testimonials► Company proof results► Independent research results

Restatement of the benefit before proving it

Proof source and relevant facts or figures about the product

Expansion of the benefit

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Proof Statements Help Proof Statements Help Prove What You SayProve What You Say

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Creates a sense of valueCreates a sense of value

The way a particular product is handled suggests its value without even using the words. Careful handling gives the impression of value even if no words are spoken. Careless handling implies that the product has little value.

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How To Strengthen The How To Strengthen The PresentationPresentation

A seller should not just grab a method A seller should not just grab a method because it sounds trendy or because it because it sounds trendy or because it worked in a previous sales call. Rather, a worked in a previous sales call. Rather, a seller should strategically select methods seller should strategically select methods and media that will helpfully address the and media that will helpfully address the needs of the buyer. This process includes needs of the buyer. This process includes responding to the buyer's unique style.responding to the buyer's unique style.

The Basic tools to Strengthen the The Basic tools to Strengthen the presentation arepresentation are

► Verbal ToolsVerbal Tools► Visual toolsVisual tools

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Verbal ToolsVerbal Tools

► Word pictures and storiesWord pictures and stories► HumourHumour

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Word pictures and storiesWord pictures and storiesThe power of the spoken word can be The power of the spoken word can be

phenomenal. Stories of all types can be phenomenal. Stories of all types can be effective. effective.

► If at all possible, use stories from your own If at all possible, use stories from your own lifelife

► Make sure you have a reason for telling the Make sure you have a reason for telling the story.story.

► Use the "hook" of the story to tie back Use the "hook" of the story to tie back directly into your presentation.directly into your presentation.

► Be accurate and vivid with the words you Be accurate and vivid with the words you choose.choose.

► Pace the story. Pace the story. ► Choose stories that fit your own style. Choose stories that fit your own style.

Stories can be quite short-even a few Stories can be quite short-even a few sentences.sentences.

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HumourHumour The wonderful effects of Humor will put everyone The wonderful effects of Humor will put everyone

more at ease, including the salesperson. more at ease, including the salesperson. ► Don't oversell Don't oversell ► Don't apologize before telling a jokeDon't apologize before telling a joke► Identify any facts that are absolutely necessary Identify any facts that are absolutely necessary

for the punch line of thefor the punch line of the story to make sensestory to make sense► Enjoy yourself while you're relating the humor by Enjoy yourself while you're relating the humor by

smiling and animating your voice and non-verbal.smiling and animating your voice and non-verbal.► Practice telling the joke different ways to see Practice telling the joke different ways to see

which exact wording works best.which exact wording works best.► Make sure your punch line is clear.Make sure your punch line is clear.

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Visual toolsVisual tools

► ChartsCharts► Models, samples and giftsModels, samples and gifts► Catalogues and brochuresCatalogues and brochures► Pictures ads, maps and illustrationsPictures ads, maps and illustrations ► Testimonials and Test ResultsTestimonials and Test Results

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ChartsCharts► Know the single point the visual should Know the single point the visual should

make make ► Use current and accurate information.Use current and accurate information.► Don't place too much information on a Don't place too much information on a

visual on a textual visual.visual on a textual visual.► Don't use complete sentences.Don't use complete sentences.► Use bulletsUse bullets► Don't overload the buyer with numbers.Don't overload the buyer with numbers.► Recognize the emotional impact of Recognize the emotional impact of

colors and choose appropriate ones.colors and choose appropriate ones.► If possible, use graphics If possible, use graphics ► Use consistent art styles, layouts, and Use consistent art styles, layouts, and

scalesscales► Check your visuals closely for Check your visuals closely for

misspelled words, and other errors.misspelled words, and other errors.

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Models, samples and giftsModels, samples and gifts

Visual selling aids such as models, Visual selling aids such as models, samples, and gifts may be a good samples, and gifts may be a good answer to the problem of getting and answer to the problem of getting and keeping buyer interest. Miniature keeping buyer interest. Miniature models go to the interview as models go to the interview as substitutes for products too large or substitutes for products too large or bulky to transport easily. Depending on bulky to transport easily. Depending on the service or product, samples can the service or product, samples can make excellent sales aids. Samples and make excellent sales aids. Samples and gifts frequently help to maintain the gifts frequently help to maintain the prospect's interest after the call and prospect's interest after the call and serve as a reminder for prospects or serve as a reminder for prospects or customers who either buy or do not buy customers who either buy or do not buy during the presentation during the presentation

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Catalogues and brochuresCatalogues and brochures

Catalogs and brochures can help Catalogs and brochures can help salespeople communicate information to salespeople communicate information to the buyer effectively. The salesperson can the buyer effectively. The salesperson can use them during presentations and then use them during presentations and then leave them with the buyer as a reminder leave them with the buyer as a reminder of the issues covered. Brochures often of the issues covered. Brochures often summarize key points and contain summarize key points and contain answers to the usual questions buyers answers to the usual questions buyers posepose. . Creatively designed brochures Creatively designed brochures usually unfold in a way that enables the usually unfold in a way that enables the salesperson to create and maintain great salesperson to create and maintain great interest while showing them.interest while showing them.

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Pictures ads, maps and Pictures ads, maps and illustrationsillustrations

Pictures are easy to prepare, are Pictures are easy to prepare, are relatively inexpensive, and permit a relatively inexpensive, and permit a realistic por trayal of the product and its realistic por trayal of the product and its benefits. Photographs of people may be benefits. Photographs of people may be particularly effective. For example, particularly effective. For example, leisure made possible through savings leisure made possible through savings can be communicated via photographs of can be communicated via photographs of retired people at a ranch, a mountain retired people at a ranch, a mountain resort, or the seashore. Illustrations resort, or the seashore. Illustrations drawn, painted, or prepared in other drawn, painted, or prepared in other ways also help to dramatize needs or ways also help to dramatize needs or benefits. Copies of recent or upcoming benefits. Copies of recent or upcoming ads may contribute visual appeal. With ads may contribute visual appeal. With new technology, even detailed maps can new technology, even detailed maps can be easily developed.be easily developed.

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Testimonials and Test Testimonials and Test ResultsResults

Testimonials are statements, usually Testimonials are statements, usually letters, written by satisfied users of a prod letters, written by satisfied users of a prod uct or service. These letters commend the uct or service. These letters commend the product or service and attest that the product or service and attest that the writer believes it to be a good buy. The writer believes it to be a good buy. The effectiveness of a testimonial hinges on the effectiveness of a testimonial hinges on the skill with which it is used and a careful skill with which it is used and a careful matching of satisfied user and prospect. matching of satisfied user and prospect. Salespeople can also use test results to Salespeople can also use test results to strengthen the presentation. Tests on the strengthen the presentation. Tests on the product or service may have been product or service may have been conducted by the seller's firm or some conducted by the seller's firm or some third-party organization third-party organization

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The Visual Presentation–The Visual Presentation–Show and TellShow and Tell

► Increase retention► Reinforce the message► Reduce misunderstanding► Create a unique and lasting

impression► Show the buyer that you are a

professional

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Use of Sales Aids The Organizer

A series of visuals that go step by step through the sales process.(eg A flip chart)

Company prepared organizers

Built around benefits •Fosters 2 way communication •Leads to the close •Gets the whole story out in less time •Keeps the presentation on track

Supplements that you should add•Personal letters of reference •Business cards of clients •Pictures of clients using the product •Pictures of finished installations

Other Audiovisual Aids

The most popular Audiovisual Aids

Computers •Videos •Slides •Presentation software use is growing

Guidelines for Using Visual Aids, Dramatics, Demonstrations.

Rehearse them! •Customize them to fit each individual customer. •Make them simple, clear, and straight forward. •Control the demonstration. •Make the demonstration true to life. •Encourage prospect participation. •Incorporate trial closes (nail downs) after showing or demonstrating a major feature, advantage, or benefit in order to determine if it is believed or important to the prospect.

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Make Your Statements Visual

Simile a comparison statement using the words "like" or "as"

Metaphorimplied comparison that uses a contrasting word or phrase to evoke a vivid image.

Analogy compares two different situations which have something in common.

ProofStatements

Past sales help predict the future. •The guarantee. •Testimonials. •Company proof results. •Facts and Statistics •Demonstrations - show the product in use •Testimonials

1.Have your referral call the prospect 2.Bring letters

•Samples - appeal to the senses if possible •Case Histories

Independentresearchresults

Restate the benefit before proving it. •State the source and relevant facts or figures about the product. •Expand of the benefit.

Induce Participation

Ask Questions. •Product use. •Visuals. •Demonstrations. •Listen •Encourage the prospect to ask questions

The VisualPresentation

Show and Tell

Increase retention. •Reinforce message. •Reduce misunderstanding. •Create a unique and lasting impression. •Show your buyer you are a professional. •VISUAL AIDS HELP TELL THE STORY

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Media Used to Display Media Used to Display Visual ToolsVisual Tools

► Sales PortfoliosSales Portfolios► 35 MM Slides35 MM Slides► VCRsVCRs► Computer H/W and S/WComputer H/W and S/W► Visual ProjectorsVisual Projectors

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Sales PortfoliosSales Portfolios

Portfolio, which is simply a paper-based Portfolio, which is simply a paper-based collection of visual aids, often placed in collection of visual aids, often placed in some sort of binder or container, that some sort of binder or container, that can be used to enhance communication can be used to enhance communication during a sales call. the portfolio should during a sales call. the portfolio should contain a broad spectrum of visual aids contain a broad spectrum of visual aids the salesperson can find quickly should the salesperson can find quickly should the need arise. Portfolios can also be the need arise. Portfolios can also be carried in a binder. The contents may be carried in a binder. The contents may be labeled by tabs and punched to fit rings labeled by tabs and punched to fit rings in a binder. Binders make the material in a binder. Binders make the material easy to find and are convenient to carry easy to find and are convenient to carry and use. and use.

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35 MM Slides35 MM Slides

Slides have been effective selling aids Slides have been effective selling aids for years. An advantage of slides has for years. An advantage of slides has always been the relatively low cost of always been the relatively low cost of producing them. Also, salespeople can producing them. Also, salespeople can easily tailor the show to any buyer easily tailor the show to any buyer simply by remov ing and/or reordering simply by remov ing and/or reordering the slides. The most effective slide the slides. The most effective slide shows utilize multiple projectors and shows utilize multiple projectors and multiple screens along with a stereo multiple screens along with a stereo sound track sound track

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VCRsVCRs

VCRs improve on slides in that the VCRs improve on slides in that the former portray action. Salespeople use former portray action. Salespeople use VCRs to help the buyer see how quality VCRs to help the buyer see how quality is manufactured into the product, how is manufactured into the product, how others use the product or service and others use the product or service and promotional support offered with the promotional support offered with the product. VCRs are used not only by product. VCRs are used not only by salespeople in one-on-one and group salespeople in one-on-one and group presentations but also at trade shows presentations but also at trade shows and for training the buyer's employees and for training the buyer's employees after the sale.after the sale.

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Computer H/W and S/WComputer H/W and S/W More and more salespeople have adopted More and more salespeople have adopted

laptop computers, notebook computers, laptop computers, notebook computers, and palm PCs for use in sales calls. The and palm PCs for use in sales calls. The beauty of these devices is their capability beauty of these devices is their capability to store large amounts of easily to store large amounts of easily retrievable information, including text, retrievable information, including text, audio, video, and still images. Inputting audio, video, and still images. Inputting all of this data is made much easier with all of this data is made much easier with the increasing sophistication of scanners, the increasing sophistication of scanners, digital cameras, and software A phrase digital cameras, and software A phrase has been coined, digital sales assistant has been coined, digital sales assistant (DSA), to indicate any software tool that (DSA), to indicate any software tool that is designed to help salespeople get their is designed to help salespeople get their message across. message across.

Computers not only offer excellent visuals Computers not only offer excellent visuals and graphics but also allow the and graphics but also allow the salesperson to perform what-if analysessalesperson to perform what-if analyses

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Tips for the use of Tips for the use of Computer H/W and S/WComputer H/W and S/W

Don't develop so many slides that you are going to drown your prospect.

Don't get carried away by using every tool in the DSA.

Don't cram too much information on a slide.

Keep the text big. And use colors strategically.

If you're going to showcase Web pages as a part of your presentation, it may be wise to download the pages into your presentation software instead of using a live Internet connection

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Visual ProjectorsVisual Projectors

Traditional overhead projectors can be an effective visual medium. The image projected on a wall can be up to 25 times larger than that on a written page, drawing more attention and creating greater impact. Such projectors are noiseless and simple to operate. Overhead transparencies can be made quickly and inexpensively on a copier or computer printer.

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Tips For Visual ProjectorsTips For Visual Projectors

Face your audience, not the screen. And don't block anyone's view with your body or the projector itself.

Change your transparencies smoothly and never leave an empty screen.

Tape the power cord to the floor to keep yourself from tripping over it!.

Have a spare bulb. If you have no light you have no presentation.

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Product DemonstrationsProduct Demonstrations

One of the most effective methods of One of the most effective methods of appealing to the buyer's senses is through appealing to the buyer's senses is through product demonstrations, or performance product demonstrations, or performance tests. Customers and prospects have a tests. Customers and prospects have a natural desire to prove the product's natural desire to prove the product's claims for themselves. Obviously, the proof claims for themselves. Obviously, the proof is much more satisfying and convincing to is much more satisfying and convincing to anyone who is a party to it. Some products anyone who is a party to it. Some products can be sold most successfully by getting can be sold most successfully by getting the prospect into the showroom for a the prospect into the showroom for a hands-on product demonstration. hands-on product demonstration. Showrooms can be quite elaborate and Showrooms can be quite elaborate and effective. effective.

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Demonstrations Prove ItDemonstrations Prove ItA successful demonstration► Lets the prospect do something simple► Lets the prospect work an important

feature ► Lets the prospect do something routine

or frequently repeated► Has the prospect answer questions

throughout the demonstration (feedback)

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Seven Points to Remember Seven Points to Remember about Demonstrationsabout Demonstrations

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Demonstration

A well planned demonstration will

Catch the buyer's interest •Fortify your points •Help the prospect understand •Keep you interested and enthusiastic •Cut down on the number of objections •Help you close •Get the prospect "involved"

Planning aDemonstration

Concentrate the Prospect’s Attention on You •Demonstrate Your Interest in the Prospect - start off by handing them something •Demonstrate Benefits not features

GettingParticipation

in ademonstration

Let the prospect do something simple. •Let the prospect work an important feature. •Let the prospect do what he would frequently do. •Ask the prospect questions throughout the demonstration.

SalesDemonstration

Checklist.

Is the demonstration needed and appropriate? •Have I developed a specific demonstration objective? •Have I properly planned and organized the demonstration? •Have I rehearsed to the point that the demonstration flows smoothly and appears to be natural? •What is the probability the demonstration will go as planned? •What is the probability the demonstration will backfire? •Does my demonstration present my product in an ethical and professional manner?

The salesperson'scurse

"You know your product better than you know how your client's business can use it." •You must determine what kind of buying decision to recommend to the prospect

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Reasons for Using Visual Reasons for Using Visual Aids and DemonstrationsAids and Demonstrations

► Capture attention and interest► Create two-way communication► Involve the prospect through participation► Afford a more complete, clear explanation of

products► Increase a salesperson’s persuasive powers

by obtaining positive commitments on a product’s single feature, advantage, or benefit

► People receive 87 percent of their information on the outside world through their eyes and only 13 percent through the other four senses

► The addition of participation is much more persuasive than dramatization alone

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HandoutsHandouts

Handouts are written documents provided to buyers to help them remember what was said. A well-prepared set of handouts can be one of the best ways to increase buyer retention of information, especially over longer time periods. A common practice is to make a printed copy of the overheads and give that to the buyers at the conclusion of the presentation.

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Tips for Hand outsTips for Hand outs

► Don't forget the goal of your meeting. Don't forget the goal of your meeting. ► Make sure the handouts look Make sure the handouts look

professional. professional. ► Don't cram too much information on a Don't cram too much information on a

page. page. ► Don't drown your prospect in Don't drown your prospect in

information. information.

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Written ProposalsWritten Proposals

The RFP process Writing proposals Presenting the proposal

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The RFP processThe RFP process

A document issued by a prospective A document issued by a prospective buyer asking for a proposal may be buyer asking for a proposal may be called a request for proposal (RFP), called a request for proposal (RFP), request for quote (RFQ), or request request for quote (RFQ), or request for for bid (RFB). The RFP should contain bid (RFB). The RFP should contain the customer's specifications for the the customer's specifications for the desired product, including delivery desired product, including delivery schedules. RFP are used when the schedules. RFP are used when the customer has a firm idea of the customer has a firm idea of the product needed. when the resulting product needed. when the resulting product truly meets the needs of the product truly meets the needs of the customer, that outcome is only fair.customer, that outcome is only fair.

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Writing proposalsWriting proposals

Proposals do the selling job when the Proposals do the selling job when the salesperson cannot be present. A key salesperson cannot be present. A key issue is keeping the customer's needs issue is keeping the customer's needs in mind. Always write down what the in mind. Always write down what the customer needs during the initial customer needs during the initial meeting. If not, two days later the meeting. If not, two days later the salesperson will have forgotten some salesperson will have forgotten some details she or he wanted to cover in the details she or he wanted to cover in the proposal. Proposals, then, have three proposal. Proposals, then, have three partsparts

► An executive summaryAn executive summary► A description of the current situation A description of the current situation

in relation to the proposed solutionin relation to the proposed solution► A budget A budget

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Presenting the proposalPresenting the proposal

Prospects use proposals in many different Prospects use proposals in many different ways. Proposals can be used to con vince ways. Proposals can be used to con vince the home office that the local office needs the home office that the local office needs the product, or proposals may be used to the product, or proposals may be used to compare the product and terms of sale compare the product and terms of sale with those of competitors. When the with those of competitors. When the proposal is going to be sent to the home proposal is going to be sent to the home office, it is wise to secure the support of office, it is wise to secure the support of the local deeision maker. Although that the local deeision maker. Although that person is not the ultimate decision maker, person is not the ultimate decision maker, the decision may rest on how much effort the decision may rest on how much effort that person puts into getting the proposal that person puts into getting the proposal accepted. accepted.

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Each unit or mini presentation consists of five elements

I.Feature II.Benefit III.Buying motive associated with this benefit IV.Evidence or proof statements V.Nail down or trial close

Buying Motives To Associate With A Benefit

•Quality •Convenience •Cost saving •Status •Security

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Features Benefits

•The components of your product or service •They are the same no matter who uses the product or service.

•Benefits are the value to the customer •Translating features into benefits is one of your most important skills •Transitional phrases connect features to benefits

•Because .. •This lets you … •That means … •What this gives you

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Units of ConvictionConcise, carefully prepared "mini presentations"

•Building blocks in constructing the information you present. •Prepared ahead of time •Practiced until you are comfortable •Add them to your store of available options for later use. •Become a permanent part of your selling arsenal. •Learn how to personalize units of conviction •Recall them in the best order for helping the prospect see them clearly

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Feature benefit worksheet

•You need to develop a general sheet •A specific sheet for each customer

The Nail Down or Trial Close                                                    

•A yes/no question that confirms that the prospect agrees that the benefit is applicable •If the prospect says no then go back over this benefit •This gives you feedback and builds commitment

Nail Down or Trial close should always

be made

•After making a feature - benefit sequence •After the presentation. •After answering an objection. •Immediately before you move to close the sale

Forms of Nail Downs (Trial Closes)

Aren't They?Aren't you?Can't you?Couldn't it?Doesn't it?

Don't you agree?Don't we?

Shouldn't it?Wouldn't it?

Hasn't he?Hasn't she?

Isn't it?Isn't that right?

Didn't it?

Haven't they?Wasn't it?

Won't they?Won't you?

Standard Nail Down Put the nail down at the end

Example: "After seeing this feature you can really see the benefit. Can't you?"

Inverted Nail Down Put the nail down at the beginning.

Example: "Can't you see the benefit of this feature?"

Internal Nail Down Embed in the middle of the sentence.

Example: "After seeing this feature, can't you see the benefit?"

Tag on Nail DownWhen the customer says something positive, reinforce with a nail

down.

Example:Customer: "I can see the benefit of that feature."Seller: "Can't you?"

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Quantifying The SolutionQuantifying The Solution Salespeople can strengthen the presentation Salespeople can strengthen the presentation

by showing the prospect that the cost of the by showing the prospect that the cost of the proposal is offset by added value; this proposal is offset by added value; this process is often called quantify ing the process is often called quantify ing the solution. solution.

► Simple cost-benefit analysisSimple cost-benefit analysis► Comparative cost-benefit analysisComparative cost-benefit analysis► Return on investmentReturn on investment► Payback periodPayback period► Net present valueNet present value► Opportunity costOpportunity cost► Other methods of quantifying the solutionOther methods of quantifying the solution

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Simple cost-benefit analysisSimple cost-benefit analysis

Perhaps the simplest method of Perhaps the simplest method of quantifying the solution is to list the quantifying the solution is to list the costs to the buyer and the savings the costs to the buyer and the savings the buyer can expect from the investment, buyer can expect from the investment, often called the simple cost-benefit often called the simple cost-benefit analysis. For this analysis to be analysis. For this analysis to be realistic and meaningful, information realistic and meaningful, information needed to calculate savings must be needed to calculate savings must be supplied by the buyer. supplied by the buyer.

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Comparative cost-benefit Comparative cost-benefit analysisanalysis

In many situations the salesperson In many situations the salesperson also provides a comparison of the also provides a comparison of the present sit uation's costs with the present sit uation's costs with the value of the proposed solution. Or the value of the proposed solution. Or the salesperson com pares his or her salesperson com pares his or her product with a competitor's product. product with a competitor's product.

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Return on investmentReturn on investment

The return on investment (ROI) is The return on investment (ROI) is simply the net profits (or savings) simply the net profits (or savings) expected from a given investment, expected from a given investment, expressed as a percentage of the expressed as a percentage of the investmentinvestment

ROI = Net profits (or savings) + ROI = Net profits (or savings) + InvestmentInvestment

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Payback periodPayback period

The payback period is the length of The payback period is the length of time it takes for the investment cash time it takes for the investment cash outflow to be returned in the form of outflow to be returned in the form of cash inflows or savings. To calculate cash inflows or savings. To calculate the payback period, you simply add up the payback period, you simply add up estimated future cash inflows and estimated future cash inflows and divide into the investment cost. If divide into the investment cost. If expressed in years, the formula isexpressed in years, the formula is

Payback period = Investment / Savings Payback period = Investment / Savings (or profits) per year(or profits) per year

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Net present valueNet present value

A tool to assess the validity of an A tool to assess the validity of an opportunity is to calculate the net opportunity is to calculate the net present value (NPV), which is simply present value (NPV), which is simply the net value today of future cash the net value today of future cash inflows (i.e., dis counted back to their inflows (i.e., dis counted back to their present value today at the firm's cost of present value today at the firm's cost of capital) minus the investment. The capital) minus the investment. The actual method of calculating NPV is actual method of calculating NPV is beyond the scope of this book, but many beyond the scope of this book, but many computer programs and calculators can computer programs and calculators can calculate NPV quickly and easily.calculate NPV quickly and easily.

NPV=Future cash inflows discounted NPV=Future cash inflows discounted into today dollars - Investmentinto today dollars - Investment

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Opportunity costOpportunity cost

The opportunity cost is the return a The opportunity cost is the return a buyer would have earned from a buyer would have earned from a different use of the same investment different use of the same investment capital. Thus a buyer could spend $100 capital. Thus a buyer could spend $100 million to buy any of the following: a new million to buy any of the following: a new computer system, a new production computer system, a new production machine, or controlling interest in machine, or controlling interest in another firm. Successful salespeople another firm. Successful salespeople identify other realistic investment identify other realistic investment opportunities and then help the prospect opportunities and then help the prospect compare the returns of the various compare the returns of the various options. options.

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Other methods of Other methods of quantifying the solutionquantifying the solution

Among the many ways to quantify the solution are turnover, contribution mar gin, accounting rate of return, and after-tax cash flows. Salespeople should use methods that are understandable to the prospect and reflect the prospect's unique needs and concerns

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Dealing With The JittersDealing With The Jitters► Know your audience wellKnow your audience well► Know what you're talking about.Know what you're talking about.► Prepare professional, helpful visuals.Prepare professional, helpful visuals.► Be yourself. Don't try to present like Be yourself. Don't try to present like

someone else.someone else.► Get a good night's sleep.Get a good night's sleep.► Recognize the effect of fear on your body Recognize the effect of fear on your body ► Visualize your audience as your friends-Visualize your audience as your friends-

people people ► Psych yourself up for the presentation. Psych yourself up for the presentation. ► Think of the successes you have hadThink of the successes you have had in your in your

life life ► Realize that everyone gets nervous before a Realize that everyone gets nervous before a

presentation at times.presentation at times.

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Handling special situations

The Setting for the

Sales Interview

•Their office •Your office •Restaurant

a.Less interruptions b.Your prospect is obligated to listen c.Non threatening atmosphere d.Less stressful

Interruptions

Wait until the prospect's attention is completely back to you. •Restate the selling points that were of interest to the prospect. •Invite participation. •Make sure interest has been regained, then proceed.

Phone CallsOffer to leave the room if the prospecy must take a call •Turn off or silence your cell phone or pager.

End of Chapter End of Chapter 1010

Thank youThank you