Elements of a Great Sales Presentation Mc GrawHillIrwin

Elements of a Great Sales Presentation Mc. Graw-Hill/Irwin Copyright © 2007 by The Mc. Graw-Hill Companies, Inc. All rights Chapter 10

2 Chapter 10

Main Topics ù ù ù ù 3 The Tree of Business Life: Presentation The Purpose of the Presentation Three Essential Steps within the Presentation The Sales Presentation Mix Visual Aids Help Tell the Story Dramatization Improves Your Chances Demonstrations Prove It Chapter 10

Main Topics ù ù 4 Technology Can Help! The Sales Presentation Goal Model The Ideal Presentation Be Prepared for Presentation Difficulties Chapter 10

The Presentation ù Create elements of the presentation that appeal to the buyer’s senses and lead to improved understanding. ù Liven up your talk with drama and a demonstration. ù Use technology to help make your message clear. ù Be professional about competition. ù You will see that ethical service builds true relationships. 6

Exhibit 10 -1: The Presentation is the Heart of the Sale ù An effective approach allows a smooth transition into discussing your product’s features, advantages, and benefits. 7

The Purpose of the Presentation ù Your main goal is to sell your product to your customer – to help him. 8

The Purpose of the Presentation, cont. ù Purpose of the presentation: 1. Provide knowledge via features, advantages, 2. 3. 4. 9 and benefits of your product, marketing plan, and business proposition Allow buyer to develop personal attitudes toward your product Attitudes result in desire (or need) Convert a need into a want and then into the belief that your product can fulfill a certain need

The Purpose of the Presentation, cont. 5. Convince the buyer that not only is your 6. 10 product the best but also that you are the best source to buy from When this occurs, she is in the conviction stage

Exhibit 10 -2: The Five Purposes of the Presentation 11

Three Essential Steps Within the Presentation 1. Fully discuss the features, advantages, and benefits of your product. 2. Present your marketing plan – tell whole story: ù How to resell (for reseller) ù How to use (for consumer and industrial user) ù Promotion plans, delivery, etc. 3. Explain your business proposition. ù What’s in it for your customer? ù Value/Cost comparison ù Should be last (why? ) 12

Exhibit 10 -4 a: Salespeople Use These FABs in Their Presentations Features, Advantages, and Benefits of Bix Buckwheat Pancake Mix Features Advantages Benefits Product 1. Traditional “farmhouse” 1. Great tasting, fluffy and light; highly nutritious recipe, with freshest ingredients; fortified with vitamins A, B, C, and D; no preservatives 2. User needs only to add 2. Quick and easy to water, stir, and cook prepare 14 1. Provides an appealing item; expands breakfast menu; increases breakfast business 2. Requires minimal kitchen time and labor

Exhibit 10 -4 b: Salespeople Use These FABs in Their Presentations Features, Advantages, and Benefits of Bix Buckwheat Pancake Mix Features Advantages Benefits Marketing Plan 3. No need to store large 3. Just in time delivery; weekly quantities as needed 3. Requires minimal inventory space; keeps inventory costs low 4. Local distribution center 4. Additional orders can be 4. Prevents out-offilled quickly stock situations 5. An experienced sales representative to serve account 5. Provides assistance for 5. Knowledge and background meeting changing needs in food-service and solving business industry problems 15

Exhibit 10 -4 c: Salespeople Use These FABs in Their Presentations Features, Advantages, and Benefits of Bix Buckwheat Pancake Mix Features Advantages Benefits Business Proposition 6. Quantity discounts 6. Reduces costs 7. Extended payment plans 7. Reduces interest costs 16 6. Increases your profits 7. Increases your profits

Exhibit 10 -5: The Sales Presentation Mix 17

Persuasive Communication ù Seven factors of good communication: (Chapter 4) 1. Use questions 2. Be empathetic 3. Keep the message simple 4. Create mutual trust 5. Listen 6. Have a positive attitude and enthusiasm 7. Be believable 18

Persuasive Communication ù Sell Sequence = FAB + trial close ù To be a persuasive communicator: ù ù ù ù ù 19 Use logical reasoning Persuade through suggestion Have a sense of fun Personalize relationships Build trust – being honest; doing what you say you will do Be aware of your body language – always smile! Control the presentation – questions rechannel an off-course presentation Use diplomacy – choose your battles Use words as selling tools (simile, metaphor, analogy)

The Sales Presentation Mix ù Persuasive communication ù The SELL sequence + Trial Close ù Show – Explain – Lead (features) (advantages) (benefits) – Let (customer talk) + ù Trial Close: after strong selling point, after answering objection, immediately before move to close

Persuasive Communication, cont… ù Logical Reasoning – presentation conducted around three parts ù Ex. : 1. Major premise: All manufacturers wish to 2. 3. 21 reduce costs and increase efficiency. Minor premise: My equipment will reduce your costs and increase efficiency. Conclusion: Therefore, you should buy my equipment.

Persuasive Communication, cont… ù Persuasion through suggestion 1. Suggestive propositions – suggest the 2. 3. 4. 22 prospect should act now Prestige suggestions – name the famous or respected people or companies that use your product. Autosuggestions – attempt to have buyer sell herself by imagining herself using the product Direct suggestions – suggest that prospect buy your product

Persuasive Communication, cont… ù Persuasion through suggestion, cont. 5. Indirect suggestions – make it seem as if the purchase of your product is the buyer’s idea ù “Should you buy 50 or 75 dozen…? ” ù “Have you talked to anyone who has used their product? ” 6. Counter-suggestions – get the buyer to express why he needs the product and will also compel him to defend his decision 23

Persuasive Communication, cont… 1. Simile – a comparison statement using the 2. 3. words “like” or “as” ù A poorly manicured lawn is like a bad haircut Metaphor – implied comparison that uses a contrasting word or phrase to evoke a vivid image ù Our power mowers sculpt your lawn Analogy – compares two different situations which have something in common ù Our sun screen for your home will stop the sun’s heat before it gets to your window. It’s like having a shade tree in front of your window without blocking the view 24

Exhibit 10 -5: The Sales Presentation Mix, cont… 25

Participation is Essential to Success ù Questions ù Product use: appeals to senses ù Visuals (to be discussed) ù Demonstrations (to be discussed) 26

Exhibit 10 -5: The Sales Presentation Mix, cont…

Proof Statements Build Believability ù Past sales help predict the future ù The Guarantee ù Testimonials ù Company proof results ù Independent research results: ù Restatement of the benefit before proving it ù Proof source and relevant facts or figures about the product ù Expansion of the benefit 28

Proof Statements Build Believability ù For a proof statement referring to independent research results to be most effective, it should contain a: 1. Restatement of the benefit before proving it 2. Proof source and relevant facts or figures 3. 29 about the product Expansion of the benefit

Example ù Consider the following proof statement referring to independent research results (identify: source and facts, benefit restatement, benefit expansion): I’m sure that you want a radio that’s going to sell and be profitable for you ( benefit restatement ). Figures in Consumer Guide and Consumer Sales magazines indicate that the Sony XL-100 radios, although the newest on the market, are third largest in sales (source and facts ). Therefore, when you handle the Sony XL line, you’ll find that radio sales and profits will increase, and more customers will come into your store ( ). benefit expansion 30

Exhibit 10 -6: Proof Statements Help Prove What You Say 31

Exhibit 10 -5: The Sales Presentation Mix, cont… 32

The Visual Presentation–Show and Tell ù Increase retention ù Reinforce the message ù Reduce misunderstanding ù Create a unique and lasting impression ù Show the buyer that you are a professional 33

Visual Aids Help Tell the Story ù Some common visual aids are: ù The product ù Charts and graphs illustrating features and advantages ù Photographs and mock-ups ù Equipment ù Sales manuals and catalogs ù Order forms ù Letters of testimony ù A copy of the guarantee ù Flip-boards and posters ù Sample advertisements 34

Visual Aids Help Tell the Story, cont… ù Appeal to the prospect’s vision with the intent of producing mental images of the product’s: ù Features ù Advantages ù Benefits 35

Exhibit 10 -5: The Sales Presentation Mix, cont… 36

Dramatization Improves Your Chances ù Dramatics refers to talking or presenting the product in a striking, showy, or extravagant manner: ù Dramatics should be incorporated only when you are 100 percent sure they will work effectively. ù One of the best methods of developing ideas for dramatizations is to watch television commercials. ù Dramatic presentations set you apart from the many salespeople that buyers see each day. 37

Dramatization Improves Your Chances, cont… ù Dramatization improves your chances of success. 38

Exhibit 10 -5: The Sales Presentation Mix, cont… 39

Demonstrations Prove it ù If a picture is worth a thousand words, then a demonstration is worth a thousand pictures ©Demonstration checklist ©Needed and appropriate? ©Objective? ©Planned and organized? ©Flows smoothly and naturally? ©Will it go as planned? ©Will it backfire? ©Is it ethical and professional?

Exhibit 10 -8: Seven Points to Remember about Demonstrations 41

Demonstrations Prove It ù Use participation in your demonstration: ù Let the prospect do something simple ù Let the prospect work an important feature ù Let the prospect do something routine or frequently repeated ù Have the prospect answer questions throughout the demonstration (feedback) 42

Reasons for Using Visual Aids, Dramatics, and Demonstrations 1. 2. 3. 4. 5. 6. 7. 43 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.

Guidelines for Using Visual Aids, Dramatics, and Demonstrations 1. 2. 3. 4. 5. 6. 7. 44 Rehearse them! Customize them to fit individual customer. Make them simple, clear, and straightforward Control the demonstration Make demonstration true to life Encourage prospect participation Incorporate trial closes after showing or demonstrating a major feature, advantage, or benefit to determine if believed or important to prospect

Technology Can Help! ù Can provide excellent presentation methods ù Multimedia computers can: ù Present video clips ù Play sound bites ù Show beautifully illustrated graphics ù Be connected to projection equipment 45

Exhibit 10 -10: The Sales Presentation Goal Model 46

The Ideal Presentation ù Your approach technique quickly captures your prospect’s interest and immediately finds signals that the prospect has a need for your product and is ready to listen. ù The ideal prospect: ù Is friendly, polite, relaxed, listens ù Says “yes” and enthusiastically thanks you 47

The Ideal Presentation, cont… ù Several weeks later you receive a copy of customer’s letter sent to your company’s president glowing with praise for you ù Sometimes it happens but many times there are difficulties 48

Be Prepared for Presentation Difficulties ù How to handle interruptions: ù Is the interruption personal or confidential? ù Offer to leave the room ù Regroup your thoughts 49

Be Prepared for Presentation Difficulties ù Once discussion is over: ù Wait quietly and patiently until prospect’s attention is completely gained ù Briefly restate selling points that were of interest ù Do something to increase prospect’s participation ù Once interest is gained move deeper into presentation 50

Be Prepared for Presentation Difficulties, cont. . . ù Should you discuss the competition? ùDo not refer to a competitor unless absolutely necessary. ùAcknowledge your competitor only briefly – then drop it. ùMake a detailed comparison of your product and the competition’s product when necessary. 51

Be Prepared for Presentation Difficulties, cont. . . ù Be professional always ù Know where the presentation takes place: ù Could be anywhere ù Diagnose prospect to determine sales presentation 52

The Golden Rule ù You want to do to others what you would have them do to you. 53

Summary of Major Selling Issues ù The sales presentation is a persuasive vocal and ù ù ù visual explanation of a proposition. Four common methods of presentation are memorized, formula, need-satisfaction, and problemsolution. Consider the elements of the presentation mix that will be used for each prospect. Use persuasive communication techniques to develop prospect participation, proof statements, visual aids, dramatization, and demonstrations. 54

Summary of Major Selling Issues, cont… ù Persuasive communication techniques help to ù ù uncover needs, to communicate effectively, and to pull the prospect into the conversation. Visuals must be properly designed to illustrate the features, advantages, and benefits of your products through graphics, dramatization, and demonstration. Careful attention to development and rehearsal of the presentation is needed to ensure that it occurs smoothly and naturally. 55

Summary of Major Selling Issues, cont… ù The presentation is the heart of the sale. ù Acquire or create materials that convey your ù message and convince others to believe it. Exhibits, facts, statistics, examples, analogies, testimonials, and samples should be part of your repertoire. 56

End of Chapter 10 Mc. Graw-Hill/Irwin Copyright © 2007 by The Mc. Graw-Hill Companies, Inc. All rights Chapter 10