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August 26, 2010

The Fine art of selling

Elmer wheeler the sales guru had said “Don’t sell the steak sell the sizzle” The steak in any decent restaurant would cost a bomb. A steak is a simple dish. It has some well cooked meat pieces in the centre of the dish and the meat pieces are surrounded by a generous potion of vegetables. Why would any sane person spent so much money for a small potion of meat and vegetables? Wait and watch.

Order a steak in a restaurant and wait for its arrival. The entry of the dish is benefiting the entry of a chief guest of a function. The steak is wheeled in; The dish will be piping hot. It is sizzling and makes lots of noise. The waiters would be wearing cotton gloves. The scene is so captivating that the entire restaurant would be gaping at the spectacle unfolding in front of them. For the next ten minutes you would be equated with royalty. So what if you have to spend lavishly for the experience!

Don’t sell the steak sell the sizzle. Customer love stories. Make your pitch as exciting as possible. Make your product or service appear so good that the customer should feel privileged to buy it. Look as if you are doing him a favor by offering your product/service. Get excited about the product, Sell it with enthusiasm. A salesman without enthusiasm is as exciting as yesterday’s coffee!

Some useful tip to make sales line more easy and effective:

General benefit statement: Always say “Mr. Ram we have been given your reference by Mr. Reddy. Mr. Reddy has purchased our product and is very happy with its performance. Would you also care to look at our demonstration?” Disarm the customer. Customers are naturally suspicious of sales people. Make him comfortable by saying that his name has been refereed by his friend. This would make him more confident.

Ask for reference: All of us have a bloated image of ourselves. Ask a satisfied customer to give his friends’ phone numbers to you. Also tell him that you would tell his friends that he has referred their names. A customer would be tickled pink. Being seen an opinion leader and as a leader among men is a dream that all of us cherish.

Magnify benefits: Always magnify the benefits. For example if an electronic typewriter has a three months warranty period don’t say so, say our electronic typewriter has 90 days warranty! It appears to be more than 3 months. It is same as saying your money would get doubled in 5 years. It is the same as 15% compound interest per year and for five year term. But customers get excited about the doubling part. You are not cheating, only creating healthy excitement for the customer.

Minimize the cost: In the same vein minimize the cost. For example if the annual maintenance contract for an electronic typewriter is Rs 1,000/- don’t say so, say “sir our company will charge Rs 3/- per day for maintaining you’re your electronic typewriter. The cost per day is not even half the cost of a single cup of tea. For that amount you will have hassle and tension free functioning of your office automation product”. The end result is the same but you are making the customer feel relaxed about his outflow of cash.

Never belittle the competition: gone are the days of pressure selling. The world has moved from a sellers’ market to a buyers’ market. The buyers are spoiled for choice and have become very finicky and choosy. In the present scenario never belittle the competition. If the customer is harping on the competitor’s product, you can firmly say “yes our competitors also have good products but they do not have our benefits and our range of features” Tell him how he would benefit by buying your product. Tell him your range of service and what makes your product so special.

Some customers are adamant. They want to buy competing product only. Then what? It is better to lose a customer who insists to buy a competing product rather than pressurizing him to buy your product. An impulsive buyer may regret his decision later. He would inevitably blame the salesman for the high pressure selling tactics. You have lost the customer for ever. It is better to lose today so that you can win tomorrow. Haar ke jeet ne walonko hi Baazigar kehethe hai (a guy who loses now and later wins is the real winner)!

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