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Selling Skills

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Selling Skills

  2. 2. What Kind Of Customer are You? Customer Centric Selling
  3. 3. "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
  4. 4. 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.
  5. 5. 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>
  6. 6. 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
  7. 7. Core Processes Retain current customers Sell more to current customers Acquire new customers
  8. 8. Core Processes Retain current customer Sell more to current customers Acquire new customers
  9. 9. Relation between acquisition costs revenues and margins Acquisition costs Lifetime value Referrals Increase of margins Cross selling Additional Turnover Basic turnover
  10. 10. 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>
  11. 11. Selling to an Existing & a New Customer Role Play Customer Centric Selling
  12. 12. 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>
  13. 13. 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>
  14. 14. Tracking Decision Making Process Customer Centric Selling
  15. 15. 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>
  16. 16. 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>
  17. 17. 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>
  18. 18. Requirement stage <ul><li>Discover the Solution </li></ul><ul><li>List & Confirm Needs </li></ul>
  19. 19. Confirmation Stage <ul><li>Test Understanding </li></ul>
  20. 20. Specification Stage <ul><li>Lock out misunderstandings & Competition </li></ul><ul><li>Commit to Specifications </li></ul>
  21. 21. Solution stage <ul><li>Recommend a Solution </li></ul><ul><li>Provide Alternatives </li></ul><ul><li>Gain An Agreement </li></ul>
  22. 22. Close Stage <ul><li>Reinforce benefits </li></ul><ul><li>Ask for Lead </li></ul>
  23. 23. The Customer Centered Selling Cycle Maintenance Stage: After Sales Service Remember if you are not watching the customer somebody else may be watching
  24. 24. 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>
  25. 25. 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>
  26. 26. People Hate to be Sold But Love To Buy Customer Centric Selling
  27. 27. 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!
  28. 28. 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>
  29. 29. 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>
  30. 30. One stop shop for customers Customer Centric Selling
  31. 31. Customer Centric Selling Cross selling Role Play
  32. 32. Cross selling Customer Centric Selling
  33. 33. Thank you Ravi Kumar