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SELLING SKILLS

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What Kind Of Customer are You? Customer Centric Selling

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"The most successful people in any industry are seldom the smartest or best looking...they're the people who can sell"—Len Foley Customer Centric Selling

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Customer Centric Selling <ul><ul><ul><ul><ul><li>What is selling? </li></ul></ul></ul></ul></ul>Selling is taking an idea, planting the idea in your customers minds and making them feel they thought of it..but do it ethically.

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Customer Centric Selling <ul><li>Six Selling Themes </li></ul><ul><li>Differentiate Customers - Bank Accounts </li></ul><ul><li>Design Differentiated Offerings –Credit Card </li></ul><ul><li>Keep Existing Customers - ATM-Debit Card </li></ul><ul><li>Exploit Cross Potential – Other Bank customers </li></ul><ul><li>Exploit Loyalty Potential –-Debit Card </li></ul><ul><li>Maximizing Life Time Value – Lifetime free credit card </li></ul>

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Competitive Advantage <ul><li>Someone can copy your business strategy </li></ul><ul><li>Someone can copy your marketing Approach </li></ul><ul><li>Someone can copy your product </li></ul><ul><li>Someone can copy your manufacturing capabilities </li></ul><ul><li>Someone can copy your market access </li></ul>No one can copy your knowledge and relations with your customers

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Core Processes Retain current customers Sell more to current customers Acquire new customers

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Core Processes Retain current customer Sell more to current customers Acquire new customers

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Relation between acquisition costs revenues and margins Acquisition costs Lifetime value Referrals Increase of margins Cross selling Additional Turnover Basic turnover

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Customer Centric Selling <ul><li>Customers are: </li></ul><ul><ul><li>More Aware </li></ul></ul><ul><ul><li>More demanding & powerful. </li></ul></ul><ul><ul><li>Less Loyal </li></ul></ul>

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Selling to an Existing & a New Customer Role Play Customer Centric Selling

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Customer Centric Selling <ul><li>The Customer Centered Decision Cycle </li></ul><ul><li>Satisfaction </li></ul><ul><li>Acknowledgement </li></ul><ul><li>Decision </li></ul><ul><li>Investigation </li></ul><ul><li>Selection </li></ul><ul><li>Reconsideration </li></ul>

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Customer Centric Selling <ul><li>The Only Two Things Customers Ever Buy </li></ul><ul><ul><ul><li>Good Feelings </li></ul></ul></ul><ul><ul><ul><li>Solutions to problems </li></ul></ul></ul>

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Tracking Decision Making Process Customer Centric Selling

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The Customer Centered Selling Cycle <ul><li>Research Stage </li></ul><ul><li>Analysis Stage </li></ul><ul><li>Requirement Stage </li></ul><ul><li>Confirmation Stage </li></ul><ul><li>Specification Stage </li></ul><ul><li>Solution Stage </li></ul><ul><li>Close Stage </li></ul><ul><li>Maintenance Stage </li></ul>

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Research Stage <ul><li>Determine the decision maker </li></ul><ul><li>Basic Information </li></ul><ul><li>Earn the customer’s Trust </li></ul><ul><li>Ask Questions which play to your strength </li></ul>

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Analysis Stage <ul><li>The intent of selling is to protect the customer from ‘what if’ not ‘what is’. </li></ul><ul><li>If they cry;they’ll buy </li></ul>

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Requirement stage <ul><li>Discover the Solution </li></ul><ul><li>List & Confirm Needs </li></ul>

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Confirmation Stage <ul><li>Test Understanding </li></ul>

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Specification Stage <ul><li>Lock out misunderstandings & Competition </li></ul><ul><li>Commit to Specifications </li></ul>

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Solution stage <ul><li>Recommend a Solution </li></ul><ul><li>Provide Alternatives </li></ul><ul><li>Gain An Agreement </li></ul>

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Close Stage <ul><li>Reinforce benefits </li></ul><ul><li>Ask for Lead </li></ul>

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The Customer Centered Selling Cycle Maintenance Stage: After Sales Service Remember if you are not watching the customer somebody else may be watching

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Customer Centric Selling <ul><li>What to do when the customer cannot make up his mind? </li></ul><ul><li>The customer does not know everything about everything he buys. </li></ul><ul><li>Don’t give the customer too many options </li></ul><ul><li>Example : Camera </li></ul>

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Customer Centric Selling <ul><li>What to do when the customer raises obstacles or objections to buying? </li></ul><ul><li>When they object give them more </li></ul><ul><li>Solutions & good Feelings. </li></ul>

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People Hate to be Sold But Love To Buy Customer Centric Selling

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Sales Secrets <ul><li>2 Magic Words for Sales Success </li></ul><ul><ul><li>Stop….. Selling </li></ul></ul><ul><li>The reason why Everyone wants to buy </li></ul><ul><ul><li>Because they only care about what interests them. </li></ul></ul><ul><li>How to Turn Every person into a Life long customer. </li></ul><ul><ul><li>Active Listening </li></ul></ul>Your customers are desperate to be heard & acknowledged!

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Customer Centric Selling What is Cross Selling ? <ul><li>Selling our existing customer a different product </li></ul><ul><li>For e.g: If we have Mr.X holding a Credit Card we can convince him to open a saving account with us </li></ul>

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Customer Centric Selling <ul><li>Understanding the type of customer </li></ul><ul><li>Creating a want in the customer </li></ul><ul><li>Suggesting product according to his needs and pushing the right product </li></ul><ul><li>Highlighting on the unique selling points of the product </li></ul><ul><ul><li>For e.g: If Mr B is a senior citizen you can cross sell a Fixed Deposit which is carrying good rate of interest which are flexible also </li></ul></ul>

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One stop shop for customers Customer Centric Selling

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Customer Centric Selling Cross selling Role Play

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Cross selling Customer Centric Selling

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Thank you Ravi Kumar