Archive for April, 2008

Psychology of Selling – Part 3

Monday, April 28th, 2008

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Conviction – When doubts have been dispelled, it is replaced by conviction. The prospect is convinced of the benefits of your product if you have been able to reassure him with facts and possibly additional advantages to make your product even more desirable.
Decision –The fact that a prospect has been convinced and would like to have your product doesn’t guarantee that he will take necessary action to get it. You must ask for the decision and stimulate the action. Everything you do from the very beginning of your presentation is designed to culminate in one final step: requesting a decision on the part of the prospect – asking for an order.

Psychology of Selling – Part 2

Tuesday, April 22nd, 2008

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Desire – When the prospect has reached the point of sincere interest in a product, he can see how your proposition will benefit him; he feels a desire to have these benefits. He begins to want them.
Doubt – While the prospect starts to get interested, he also becomes skeptical. The prospect begins to have doubts. These doubts manifest themselves as question or objections, either spoken or unspoken. There may be some questions whether or not he can get better deal from another source. He may have some doubts about certain claims you have made. At this point, the customer is actually asking for a reassurance.

Psychology of Selling

Thursday, April 17th, 2008

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When a prospective customer is confronted by a salesman, he goes through a series of mental steps. Keep in mind that a decision to buy is often more of an emotional decision than one based purely on logic or reason. This is an established precept and a salesman, must be guided by it in all his personal contacts. There are six mental steps.
Curiosity – A prospect wants to know why you are there; what you have to offer him; how is it going to affect him.
Interest – Curiosity is replaced by interest as you begin your presentation. The prospect becomes emotionally and intellectually involved in what is being said because he can see himself in the picture. This occurs if you are able to present your subject effectively, knowledgeably, and confidently.

Self Motivation

Monday, April 14th, 2008

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Motivation is a active condition that results from the desire, directional intensity and persistence of behavior to realize a long or short- term goal. Do away with motivation and our sales performance, and our results can be severely messed up. When we are, motivated, our performance shines, and just as when we are de-motivated, we drag ourselves to do the work.
Sales people should not rely on others to push them up or it could cause a big let down. Understanding what motivates us helps in pulling out our determination to succeed. As individuals, we have a set of values that conforms to our way of life and they fuel our behavior.

Pay Attention to People

Friday, April 11th, 2008

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The best way of getting people’s attention is by paying attention to them. Listen to them and not just hear them. Listening is active and if you really listen, people will tell you what their problems and concerns are. Executives should listen to their staff and associate, take time to get to know them, their names, as well as their interests and aspirations. Don’t act as interrogators, but ask friendly questions about how they are, how they feel, what they did over the weekend, and what they plan to do on their vacation. Listen and you’ll learn so much about people as a whole.

Customers First (Part 3)

Tuesday, April 8th, 2008

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Following Loyalty Measurement

Link customer loyalty and commitment to business outcomes. Decide whether to measure your engagement outcome by satisfaction, the chance of making a purchase again or the probability of recommending to others. Link your measures with business outcomes like shareholder returns, annual growth of sales, gross margin, market share, cash flows. Understand that changes in loyalty/engagement scores normally precede changes in business outcomes.

Use results to forecast future loyalty. Analyze data using statistics to show the most important areas of focus. Acknowledge that the major areas of focus may change in relation to changes in economic, competitive and demographic settings.

Customers First (Part 2)

Thursday, April 3rd, 2008

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Loyalty Technologies

Dialogue with the customers. Talking to customers and getting their opinions will encourage them to patronize your business. They will support you because they trust that what you offer is superior to others. They become active promoters of your products.

Survey customers and solicit feedback. A tested technique is the active solicitation of information from customers Problems can be identified and solved based on survey results. Surveys should be short and well-structured, and make use of random sampling.

Manage feedback using a centralized system. Use a feedback system wherein surveys, feedbacks can be consolidated, tracking both quantitative and qualitative information and a centralized reporting of these results.

Customers First

Tuesday, April 1st, 2008

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Getting your customers loyalty begins at a basic level. Here are nine techniques to gain customer loyalty.

Loyalty Basics:

Give customers what they expect. Know your customer’s expectations and make sure your product or service meets them. It is a balanced transaction – somebody pays for something, therefore expects a fair trade in return.

Go beyond simple reward programs. Giving points and rewards encourage repeat buys but don’t actually promote loyalty. True loyalty happens when consumers buy products without any pay off.

Complaints can change into opportunities. Addressing complaints faster can gain you a loyal customer.

Create opportunities for repeat business. Monitor customers’ needs and offer products that compliment these needs.

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