Sales Strategies and Tactics - indmaa.org · Sales Strategies and Tactics Scott A. Inks, Ph.D. ... •Technology is driving Sales and ... Handling Resistance, and Closing . Prospecting

Succeeding in a Challenging Environment

Sales Strategies and Tactics

Scott A. Inks, Ph.D.

Director, H.H. Gregg Center for Professional Selling

Associate Professor of Marketing

Ball State University

Agenda

•Who I Am

• Key Changes

•Why Buyers Buy

• Sales Process (selected portions)

• Discussion

Who I Am . . .

Ball State Center for Professional Selling

• Create and Cultivate Professional Sales Talent

• Promote Sales Professionalism

• Conduct and disseminate relevant sales research

Mental Preparation

• Read “Selling with a Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud” by L. McLeod.

• Seek out satisfied customers – Remind yourself of the value you provide.

• Never compromise your integrity or ethical standards

• Hang out with positive people.

• Don’t underestimate the power of the daily affirmation.

Key Changes

• Salespeople must be comfortable working with social media and other digital marketing tools

• Salespeople need to be more analytical and business savvy

• Technology is driving Sales and Marketing integration

• Salespeople need to justify their existence in the channel

Decision to Buy

Decision to Buy

Perceived Value Gain

Perceived Risk

Cash and Carry Conner

He was buying my product

by the 240 gallon pallet.

Full-Service Frank

He was buying my product

by the 240 gallon pallet. I wanted him to buying my

product in bulk – 15,000 gallons

Full-Service Frank

Help me

solve my

business

problems

Full-Service Frank

$40.00 per gallon

-$5.00 per gallon rebate

(if custom applied)

$35.00 per gallon to the grower.

Cash and Carry Conner

$35.00 per gallon to the grower.

Cash and Carry Conner can charge $5.00 less

per gallon because he has no overhead.

What Salespeople Need to Do

• Know your customers’ business

• Look for business solutions

• Differentiate yourself

• Be valuable

Trust – The Most Critical Component to the Buyer-Seller Relationship

Trust Customer Orientation

Expertise

Candor

Dependability

Compatibility

Sales Process

Prospecting, Handling Resistance, and Closing

Prospecting – Strategy

1. Set Objectives

2. Allocate Resources

3. Employ Multiple Methods (be creative)

4. Measure Results (ROI)

5. Make Adjustments

Prospecting – Lead Generation Methods

• Referrals – Manage with Care

• Networking (personal and digital)

• Marketing (promotions, contests, trade-shows)

• Content Marketing

Lead Generation Method - Musts

1. Engage the lead.

2. “Assign” the lead something to

do as a result engagement.

3. Move the lead through the

qualification process and assign

priority.

Create Objectives for, and Track . . . .

• Resource Allocation (time and money) by Lead Gen Method

• Leads by Lead Gen Method

• Qualified Leads by Lead Gen Method

Create Objectives for, and Track . . . .

• Lifetime Value of Customer by Lead Gen Method

• ROI (in $ and $/hour) by Lead Gen Method

Comparing Lead Gen Methods

0%

5%

10%

15%

20%

25%

0

20

40

60

80

100

120

140

Method 1 Method 2 Method 3

Converted

Qualified

Leads

Conv. Ratio

Referrals

• Believers in your personal brand are the best source

• Be candid when asking

• Define target prospect or identify prospects first, then ask for referral

• Provide reward for good referrals

Handling Objections

1. Anticipate Concerns

2. Develop Correction/Mitigation Strategy

3. Compile and Organize Aids

4. Practice (Role Play)

1. Listen (don’t assume)

2. Clarify the Concern

3. Respond

4. Confirm Resolution

“If you’re right about the prospect being a

good fit, objections are simply a

communication issues”

Gaining Commitment

• First and Foremost - Add Value and Mitigate Risk

• Seek Prospect’s Agreement with the Value Gain

• Simply “Ask for the Order”

• Carefully Address Remaining Concerns (if any)

• Establish and Communicate “Next Steps”

Practice Asking (Role Play, Non-Sales Asks, etc.)

General Strategies for Improvement

1. Role Play (workshop) • Specific Scenarios

• Ad hoc

• With prep

• Spontaneous

2. Observer Others

3. Study

4. Think Strategically “The more I practice, the luckier I get.”

- Arnold Palmer

“Every brand contact delivers an

impression that can strengthen or

weaken a customer’s view of the

brand and the company.”

Questions and Discussion