Sunday, September 8, 2013

5 Essential Knowledge for a Salesman to Close a Sale

5 Essential Knowledge for a Salesman to Close a Sale

5 Essential Knowledge for a Salesman to Close a Sale
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Closing the Sale is the last part of the Sales Process. It is where the seller and the buyer have finally reached an agreement to proceed with the transaction. But before the seller or the agent or the salesperson can successfully do that. He must consider the following:

The 5 Essential Knowledge for a Salesman to Close a Sale:
1.Knowledge of Product
2.Knowledge of Inventory
3.Knowledge of Available Financing
4.Qualification of the Buyer
5.Knowledge on the Ability of the Buyer

Now what are these?

*Knowledge of Product - How can a Professional Salesperson recommend a product when he himself doesn't fully understand what the product does and what benefit it can bring to his customers? How can he convince his prospect if he can't even show the value or the importance of having it in the first place? It is really a must to master your product if you want to succeed.

*Knowledge of Inventory - You know how frustrating it can be when after all those times you've invested on searching the right product, going into fine details like how much does it cost, preparing your budget and then finally going into the store to personally check it. You talk to their sales clerk and discussed the details and the two of you agreed and she left to go get the product. She came back and then bang! You are told that they don't have the stock anymore!? So if you are the seller, you have to make sure that you are always updated of the inventory status of your product. Otherwise, not only that you are giving your competitor a chance but you're ill-prepared to do an up-sell or to offer a different but similar product.

*Knowledge of Available Financing - Oftentimes, you encountered some prospects that went to check out your product. Believing they're qualified, you proceed with your presentation. And you've done it in flying colors but when you tried to close the sale- you are told different kinds of stuffs like they'll go check the price on the other stores, go ask approval from their spouse or whatever different reasons they can think of. Of course they are absolutely interested with your product but without your knowing, their main objection is that they don't have the budget yet. In this situation, showing them the available financing scheme can likely increase your chances of closing the sale. As easy as telling them that you accept credit cards or you can arrange with your in-house financing facility can greatly help you get that sale. So go check out what are the available financing scheme that you can possibly offer to your customers.

*Qualification of the Buyer - Now this involves skill! This maybe tricky especially if you are new to sales. But this can be done thru asking the right questions. Find out their motivations, their desires, how high or low if you can identify it. Check out their background, their personal or professional needs, any gaps that you can spot and focus on it. Most important is to check out their financial capacity, from there you can offer the right product that are perfect for them and for their budget.

*Knowledge on the Ability of the Buyer - Like the one above, this isn't simple. This involves initiative and hard-work. Probably an A-Lister, the who's who among the society. A research might be needed on top of the usual information gathered thru questioning. Not only will you know the buying capacity of the prospect but as well as its ability- like a very sophisticated, well-informed, and well-connected buyer. If you know how to sell to these types of customers then its guaranteed you'll gonna make them your customer for life.

Ponder this!

*A doctor cannot tell you what's wrong with you unless he knows your sickness!
*A doctor does this - asks questions, eliminates areas of improbability, eliminates symptoms, arrives at a decision and prescribes the right medication. This is what a Professional Salesperson should do!
*Definition of a "Similar Situation close" - Everybody is doing it so it must be great!
*You don't tell people what they should do, you ask the right questions and when they answer - they tell you. When they tell you, they believe what they said is true. Now you lead them to the decision which is to own the right product or service.
*Whenever you have the temptation to go tell them what to do - Stop and think "As a professional, How can I ask it?".
*A sale is nothing more than a sum total of Yeses!
*A lot of people buy different products and services for different reasons. As the old saying went- "Different strokes for different folks". Thus, personalization is the key.
*The emotions are the things that you must arouse. You must get them to a point wherein they're emotionally ready to make a decision. You must arouse them to be emotionally involved = To get to the feeling that they must have the product.
*A professional doesn't really answers an objection, he asks the right question and leads them to answer their own objections.

Happy Selling!

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