Selling Techniques

Selling Techniques

In this lesson, you’re expected to:
– understand how to sell effectively
– learn the difference between up-selling, cross-selling and down-selling
– discover the art of social selling
How to sell Effectively
Successful salespeople aren’t born; they learn the skills they need through trial and error.

The trait that sets a professional salesperson apart from an amateur is that a good salesperson can sell anything.

Why? Simply put, the basic principles of good sales are the same regardless of what you’re selling.

Customers are usually very intuitive; they can sense an inauthentic, incompetent or dishonest sales person.

Thus, you must practice everything from voice tone to body language (maintaining eye contact) to how to close the sale after making your pitch.

Here are some tips to help you improve your selling skills:

1) Know Your Customer

Before communicating with your customer directly, you should take some time to understand who your customer actually is.

For instance, if you are a real estate agent, people hire you to help them sell or purchase a house. Becoming a sales professional means understanding the simple needs of your customer before you even interact with them. There are much more complex components of the sales process as well, but it all starts with an understanding of the customer’s basic need.

One of the most profound realizations you can make as a sales professional is that you are providing a service to others. Your main task is to guide customers along a path to find a solution.

2) Know Your Product

Learning your product can take many forms. It could be reading about the product or using it personally to become more acquainted with product features and benefits.

Like learning your customer, this is a critical step that you must accomplish before ever interacting with a potential client. If you fail to complete this step, you risk your own credibility and more importantly, the chances of closing the sale are very slim.

As a sales professional, you must keep in mind that your primary goal is to be a product expert capable of making sure your customer feels confident in you and the product.

3) Communication

Sales is all about communicating effectively. You need to understand what your customer wants or needs and be able to translate that into a product/service that meets these needs. You also need to overcome any objections your customer has.

Whether you are working with customers in a retail setting, a business environment or over the phone, the basic rules of communication are always the same.

[Optional] 13 Communication Skills That Are Crucial to Sales Success
[Optional] Tips From Closers: 8 Pro Techniques Top Sales Professionals Use When Selling
Up-selling, Cross-selling & Down -selling
Up-Selling

Upselling often employs comparison charts to market higher-end products to customers. Showing visitors that other versions or models may better fulfill their needs can increase the average amount spent and help users walk away more satisfied with their purchase.

Companies that excel at upselling are effective at helping customers visualize the value they will get by purchasing a higher-priced item.

For example: Have you ever been to McDonald’s and ordered a 300ml Coke, only to hear that for 30 cents more you could get a 500ml Coke instead? That’s up-selling. 

Tips for Up-Selling

– Clearly spell out the benefits of the more expensive option.

– Put the price into perspective.

– Keep your options open. Don’t oversell the more expensive product as someone may be on a tight budget.

[Optional] 10 powerful examples of upselling online
Check out this article to see some examples of how to upsell:
https://econsultancy.com/blog/66879-10-powerful-examples-of-upselling-online/
Cross-Selling

Cross-selling identifies products that satisfy additional, complementary needs that are unfulfilled by the original item. For example, a comb could be cross-sold to a customer purchasing a blow dryer.

Often, cross-selling points users to products they would have purchased anyway. By showing them the right product at the right time, it ensures they make the sale.

Cross-selling is prevalent in every type of business. Credit cards are cross-sold to people registering for a savings account, while life insurance is commonly suggested to customers buying car coverage.

Tips for Cross-Selling

– Always offer more than the customer is initially looking for.

– Offer a package deal if they buy something else as well.

– Don’t put too much pressure on the customer: after all you want them to come back.

Difference between Upselling & Cross-Selling

Upselling is the practice of encouraging customers to purchase a comparable higher-end version of the product in question, while cross-selling invites customers to buy related or complementary items.

Upselling and cross-selling are mutually beneficial when done properly, providing maximum value to customers and increasing revenue without the recurring cost of many marketing channels.

For example, an automobile salesman often engages in up-selling by showing the customer multiple versions of the same model. Each version may differ in quality, starting with a base model and progressing through more luxurious models with additional features.

See full-size image: http://bit.ly/2kVL74L

[Optional] Differences Between Up-Selling and Cross Selling
Down-Selling

Down-selling is the art of narrowing a customer’s expectations and matching them more effectively with a solution that best fulfills their needs or desires.

This technique is used when the customer, for some reason, decides to back down from the purchase. In this case you can offer him a cheaper product, which has a higher chance of being accepted. The goal here is to acquire a customer, even if you will not profit as much right away.

Example: Car dealers down-sell all the time. If you enter a dealership looking for a BMW and get put off by the price, the salesman will certainly bring up other options that cost less.
Tips for Down-Selling

– Wait until you are absolutely sure they can’t afford the premium product, you just might sell the most expensive item each time.

– Try and make it sound as if there is not much difference between the two products.

– If you haven’t got a cheaper version, try and sell them something else.

Social selling
The modern consumer is independent and informed. They’re likely to use social media to research products and make recommendations, and according to Hubspot74% of B2B buyers conduct more than half of their research online before making a purchase or contacting a salesperson.

Since social buying is becoming increasingly common, why wouldn’t you want to be where most of the decision-making process is happening? This is where social selling comes into play.

What is Social Selling?

Social selling is a way for sales teams to use social media to connect with prospects, and provide them with value. Similar to lead nurturing, your goal is to engage buyers on an on-going, long-term basis.

The immediacy of social media can help you actively communicate with accounts, and monitor your prospects to look for opportunities that signal when it’s a good time to reach out.

Social selling helps you connect to your prospects and remain relevant by creating and maintaining relationships.

How to use Social Selling Effectively 

1) Identify your target, and which social media platforms they use.

2) Create a professional brand. You need to be both knowledgeable and approachable.

3) Create original content as well as sharing complementary content from other trusted sources to affirm your credibility.

4) Engage your audience. Positioning yourself as an industry expert and interacting with your target will keep your services at the top of mind.

[Optional] Social Selling: What it is, Why You Should Care, and How to Do It Right
Read this blog article to learn more:
https://blog.hootsuite.com/what-is-social-selling/
Jim Rohn