The Sales Process
When pitching a sale to a prospect, your success is determined by how well the following factors are addressed:
Does the product/service address the prospects' needs A prospect will encounter the product in one of two scenarios. Primed Buyer If they are looking for the product, they will likely buy it, though who they buy it from depends on price or feature comparison. For example, they may have to buy a replacement computer mouse, otherwise using their computer will be difficult. Though it may be a matter of choosing the brand, model and selecting a retailer which offers the best service or price. These are 'primed' buyers and they will buy if their expectations are met. Opportunitistic Buyer These buyers will encounter the product while walking in the shopping mall, or surfing online stores. Whether they buy the product depends on whether the product fulfils an unrecognized need. An unrecognized need is something which a buyer may not need, but may want to buy because it promises some benefit. An example of this could be a face cream, or an extra shirt which 'looks nice', but isn't really needed. Products and services capitalizing on the latest trends and fashions can capitalize on unrecognised needs if positioned effectively. Or if the marketing is skillful enough to create an unrecognized need. Need creation can focus on themes of:
How badly the prospect wants the product/service Is possessing the product/service a 'must' for the prospect? Is the item in short supply? What are the consequences of NOT having the item. If the product can be positioned with these benefit and negative benefits in place, the ability to close the sale will be greatly enhanced.
How well the prospect's objections are addressed Every prospect will usually have some objections holding them back from buying the item (otherwise they would buy everything they see). If these objections can be effectively addressed, the prospects' resistance toward completing the sale will be significantly reduced. Objections will be addressed in the next section.
How comfortable the prospect is with the sales person Rapport building is one of the most useful, yet underrated skills. Establishing rapport may mean that even if the prospect isn't completely happy with the product, they may proceed with the purchase because they feel comfortable with you. Rapport building will be addressed in a later section.
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