Sales Presentation Unit 5 Retail Agribusiness Sales Lesson

Sales Presentation Unit 5: Retail Agribusiness Sales Lesson: AS 5

2 Objectives Lesson Objective: • After completing the lesson on the sales presentation, students will demonstrate their ability to apply the concept in real-world situations by obtaining a minimum score of 80% on a sales presentation. Enabling Objectives: 1. Define the seven steps of the Feature Benefit Sales Presentation Technique and the need for each and gather and/or create resources to aid in final sales presentation. 2. Create a list of attention getters to use when meeting a customer and identify techniques to use when approaching customers in the four selling environments. 3. Identify and address valid objections, hidden objections, and misunderstandings. 4. Script examples of each type of close to use in a sales presentation.

3 Key Terms • Valid Objection • Hidden Objection • Add-On Sale

4 MAKE THE SALE

5 Feature Benefit Sales Presentation Technique Preparation for Sale • Product, company, and industry knowledge Introduction or Building Rapport Demonstration • Show the features of the product and their corresponding benefit to the customer Add-On Sales • Extended warranties, etc. Identifying Customer Needs Close the Sale Overcoming Objections • Ask the customer to buy

6 The Importance of Each Step Preparing for the Sale • A vast array of knowledge is needed to answer questions about competing products, show the features and benefits of the product, and present yourself as a competent salesperson Introduction or Building Rapport • Shows the customer salesperson can be trusted • Makes customer more interested in listening to salesperson • Increases chances of making a sale Identifying Customer Needs • Needs to drive a customer’s motivation to buy • Helps salesperson tailor presentation specifically for customer

7 The Importance of Each Step Demonstration • Customers buy because of how the product benefits them • Also an opportunity to show up the competition, demonstrating how your product is better Overcoming Objections • Objections indicate the customer has an interest in the product • Provides insight into customer’s thought process • Overcoming objections makes customer more knowledgeable about product Close The Sale • How salesperson secures sale • Should be ready to close from the beginning of the presentation Add-On Sales • Now is the time when customers are more likely to buy related products that are highly recommended to use in conjunction with product

8 Resources to Aid in Constructing Presentation • Customer/prospect profile – Information about a customer/prospect and his/her company (identification of decision makers, personality type, financial power, problem areas, etc. ) that can help in personalizing presentation • • Product and company data List of standard objections and responses List of product features and related benefits List of approaches or sales strategies – Use with different personality types • List of closes – Helps salesperson memorize techniques for confirming a sale • List of attention getters – Stories, anecdotes, and special offers that are designed to attract and hold the interest of the customer • Visual aids and demonstration materials – Charts, graphs, models, and displays that stress the positive points of the product

9 Greeting the Customer Shake hands Begin to gain information from the customer by asking probing questions Address the customer by name Make introductions by providing salesperson’s and company’s name State purpose of the meeting Express appreciation to customer for taking time to meet

10 Approaches for Each Selling Environment • • Retail – Emphasize market information about future demand – Take the type of customer into account when determining need – Determine the financial capability of the retailer – Approach the retailer with ideas for promotions or advertisements and make sure the retailer will participate • • Processing – Focus on product efficiency and technical support – Determine need – Determine financial ability to make the purchase Direct Sales – Focus on the benefits to customer – Identify needs and features of the product that can meet them – Inform the customer of the support he or she will receive from the company Wholesale – Provide information about number of retailers who will carry the product to indicate demand – Determine financial capability of wholesaler – Inform wholesaler of any discounts – Provide information about delivery and order procedures

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TYPE OF OBJECTION RESPONSE 12 Misunderstanding - Customer objections based misinformation or his/her misunderstanding of information Restate misunderstanding, Refute misunderstanding by providing proof of facts, Gain agreement from customer that he/she has misunderstood, Reemphasize product features and benefits and obtain verification that the customer understand them Hidden Objection - Smokescreens; Objections made by customer to disguise true objections Ask customer direct, specific questions to learn true objection; Use an indirect question if salesperson feels customer is willing to talk openly; When true objection is identified and confirmed, take same steps as with valid objection Valid Objection - Statements that are true based on customer’s knowledge Address objection immediately; Restate objection and look for agreement from customer; Discuss objection, downplaying its importance by stressing positive features of the product; Ask customer if the positive features and benefits outweigh the objection in importance while reviewing the benefits of the product

13 What Would You Say? starting e ’r u o y r a he e. It So glad to ic v r e s l a v mo our e a snow re v a h o t e be nic sure would ooped, c s s lk a w side drive and really is d n a b s u but my h self… im h it g in o f d capable o Oh, th beauti ese are baske ful hanging t use th s. I could s ure ree of t h e I’m ju m, b want t st not sure ut o spen I d $90 for them… This cattle magnet really does seem like it would do the job, but I’m just not sure about the large quantity I’m required to buy… t r you to ge o f d e it c x I am so e hese new t g in ll ta s n ew started i nt of our n o r f n i ts n pla drew look landscape u o y s n la e p house. Th ait to see w ’t n a c t s I ju turns out great, and t i e p o h I sult. n the final re on’t plan o d e w e s u a great bec d anytime a te s m r a f leaving this on… so

14 Closing a Sale Direct Close • Salesperson asks customer to commit to purchase • Salesperson should be confident that all objections have been covered and the customer is ready to buy, or the customer may feel forced into making a decision and be offended Assumptive Close • Salesperson assumes customer is committed to buying product based on feedback and begins working out the details of the purchase • If salesperson is incorrect, customer will inform him/her, and salesperson must discover what objections customer still has and address them

15 Closing a Sale Summary Close • Salesperson summarizes points of presentation and emphasizes features and benefits of product on which both parties have agreed • As each point is raised, salesperson should obtain agreement from customer • If all key points are agreed upon and no new objections arise, sales representative asks customer for order, usually with a direct question Choice Close • Salesperson gives customer a choice between one buying option and another, but not the option of not purchasing the product • Close is used if sales representative is confident the customer will buy something and just needs to decide what to purchase

16 Closing a Sale Conditional Close • Used if customer is expressing some hesitation • Salesperson presents a condition for purchasing the product • Sales representative should only ask for commitment if he/she can deliver what is promised Loss-In-Waiting Close • Sales representative informs customer of positive aspects of buying immediately, such as avoiding future price increases • Salesperson uses close when telling customer the product may not be available later • Salesperson must always be truthful when using this close

17 Dos and Don’ts of Closing a Sale • Do display a friendly manner at the close even if a disagreement exists between the prospective customer and the salesperson • Don’t let the prospective customer know how much the sale means. • Don’t be apologetic, particularly in quoting prices. • Do be sure to have all materials and equipment that will be needed • • Do realize that begging for a sale makes the salesperson and the offer look bad. It also disgusts the prospective customer. Don’t make a ceremony out of close. This may frighten the prospective customer. • • Do make buying as easy and painless as possible. Don’t give the prospective customer an excuse or opportunity to back away from the purchase. • • Do study the prospective customer as a pitcher studies a batter. Then pitch to his or her weakness. Don’t ever ask the prospective customer for the buying decision in such a way that he/she can give a “Yes” or “No” answer since the latter closes the door.

18 Conclusion • A sales presentation must be well prepared and properly organized to be effective in making the sale. The salesperson must be confident that his or her sales presentation is the very best that it can be. Proper structure, content, information, and demonstration materials must be included for an effective presentation. • When making a presentation, the salesperson will usually encounter some type of opposition from the customer, so he or she must understand how to recognize objection and how to handle them positively and effectively. When all of the steps of the presentation have been completed and the opposition has been countered, the salesperson needs to determine the correct moment and way to close the sale. Several different methods may be used to close a sale, and the salesperson must determine which close is best for each customer and selling situation.

19 Exit Cards • What did you learn today about the sales presentation? • What questions do you still have about the sales presentation?