1) Outline the six methods for obtaining commitment. For each method, share an example of what you would say.
a) Direct request: “since we have seen everything needed, can I get you to sign the contract today?
b) Benefit Summary: I can appreciate your hesitation you may have about going ahead. However, let me reiterate the benefits you're gaining by joining our fitness centers today. With these plans, you will get a personal trainer and state of the art equipment.
c) Assumptive close: “ I'll send the contract out now for you to sign and get back to me today. Is that okay for you?”
d) Alternative: “Do you want the contract to contain the first or the second option we discussed when we sign today?”
e) Compliment: “wow, you really know you want, are you ready to close this sale?”
f) Combination: “The way this equipment was built is calling out your name…do you want me to go ahead and get the shipment ready for you so we can go ahead and sign here for approval?”
2) List and describe four objection techniques, and discuss when you would utilize each one.
1. View the objection as a question. Many times salespeople hear an objection as a personal attack. Instead, an objection such as “Why are your prices so high?” should be considered a question. That allows a more positive conversation rather than a defensive one.
2. Respond to the objection with a question. Asking the right questions is critical, and handling objections is no exception. Questions, such as “Can you share you concerns in this area?” or “Is there another way to look at this to make it work for you?” are good ways to engage prospects in dialogue that will help you better solve their problems.
3. Restate the objection before answering the objection. It's a good idea to check for understanding and demonstrate that you are listening by restating your prospect's objection. For example, “So what you're saying is you're concerned about the capacity during peak periods” is a good way not only to acknowledge the objection but also to give you time to formulate your response.
4. Take a pause before responding. Many times salespeople “oversell” when they are answering an objection. When a prospect raises an objection, stop, listen, and pause for a few seconds. This shows the prospect that you are legitimately listening to her objection, not just trying to sell.
3) Describe how you would strengthen a presentation on a cleaning service for each of the following buyer personality types:
• A homeowner who is amiable - they want to know they “why” I would establish a personal relationship with this individual and make sure that to make them feel that we do care. I would ask about their families and hobbies and make it a personal conversation.
• A homeowner who is analytical – they want to know the “how”. I would present them with facts and specific details about our products or services. I would ask them if they have any additional questions until we are all on board with the presentation and they are satisfied. I would present them with additional brochures or flyers in case they need more answers.
• A homeowner who is a driver – they want to know the ”what”. I will have to be a professional with this type of individual. I would have to drive a home run when talking to him and get to the point quickly.
• A homeowner who is expressive - they want to know the “who” I will have to make sure that I am very descriptive with this type of individual. Give them recognition and approval as well. Appeal to their emotions about the product or service.
4) James is a new salesperson. He is attending his first Chamber of Commerce “After-Hours Get-Together” tonight. He knows that he will meet a lot of people who can help him become a successful salesperson, but he needs information on how to make the most of this networking opportunity. What pre-sales activities should James engage in to be prepared for the event?
a) James should start networking tonight during this get-together. He needs to join other professional organizations that he can relate to as well as the ones that his own job may provide. He needs to create a list of all the prospects and make sure to follow up with these individuals.
5) You are the account executive for a major New York ad agency, and you are trying the get the account for E-Trade. Your contact is E-Trade's director of marketing. You have already arranged an appointment to meet with her. Your sales team is in the process of planning a sales call and developing sales objectives. How would you prepare for the call? Consider the planning process, pre-call planning, and SMART (specific, measurable, actionable, realistic, and time-specific) objectives.
a) To prepare for the sales call, I would start with possible questions to ask the director. Questions like:
i. What goals does E-Trade want to achieve over the course of the next year or 5yr?
ii. Can you tell me what your revenue basis would look like, if you had a decrease in losses per month?
b) I would also do my homework on the company. I would want the director to know that I am interested in doing business with them. I would send her an email with a small powerpoint presentation in showing here some of the service we can provide.
c) My SMART objectives for the meeting include:
i. Specific: Acquire account with E-trade
ii. Measurable: Close the sale by 25Feb 2018 with Etrade director of marketing
iii. Actionable: By the end of the meeting, the director will sign the agreement.
iv. Realistic: What can I hope to gain from closing this deal today?
v. Time-bound: By the end of this call I would want the director to agree a face to face meeting for 25FEB.
6) You are a computer salesperson engaged in a discussion with a college graduate who is looking to purchase a new laptop. Use the SPIN (situation, problem, implication, need-payoff) technique to uncover the prospect's needs. Give four example questions, one from each question type in the SPIN model.
a) Situation: What type of laptop have you used before in the past?
b) Problem: Are we looking at a budget in purchasing this laptop.
c) Implication: Would a payment plan be beneficial for you to purchase the new laptop?
d) Need-Payoff: You said a new laptop would be useful, useful in reducing your homework costs and other college items that require a laptop?
7) You are a new sales representative, and you are attempting to fill your pipeline with sales leads.
• Which prospecting methods will you use? I would use the existing customers. I will keep in touch with the ones that I have done business with before so that I can add them to my list. I can also use social media to gain possible prospects as well.
• How will you qualify the leads you find? Which qualifying factors will be the most important? I will qualify them based on their authority to authorize any transactions or approvals. Do they have a need for our products or service?
• How will you organize your prospecting activities? How will you keep good records? My next step will be reaching out to them. Making time for the prospects. Keep a log of all the interaction and relationships that we have built over course of time. Make them my priority.
8) Discuss the potential ethical issues, if any, for each of the situations described below. Which do you consider clearly unethical? Which fall into an ethical gray area? Which may not be unethical? Explain your answers.
• A sales clerk at Petco tells a woman, “If you spend five more dollars, we can donate a bag of pet food to the local animal shelter.”
o Gray area of ethics…. The sales clerk is trying to make a sale, and in order to make that sale they have to persuade the customer. If the salesperson is lying about the donation, then it is considered unethical. If the salesperson is legit about the donation, then the sale is ethical. In this case the salesperson could be trying to make the customer feel bad for the animals, so they will buy something else so they can donate food to the shelter especially if they are animal lovers.
• A banker tells a mortgage applicant that their chances for approval would increase if they opened a checking account as well.
o Most banks do make this offer, so this would be ethical. The bank is trying to increase their cliental, so they will offer incentives to the loan. Since this is usually approved through management, it would be ethical. The banker must not pressure the client into opening the account though, or this would be considered unethical.
• A computer salesperson offers a buyer a free one-year service contract for buying a computer during this month.
o If the contract is valid with his company, he is just trying to make a sale. He is only trying to increase the likelihood that he will sell the computer and help the customer at the same time.
...(download the rest of the essay above)