Introduction to Sales

Introduction

A sale is the act of selling a product or service in return for money or other compensation.
Signalling completion of the prospective stage, it is the beginning of an engagement between
customer and vendor or the extension of that engagement. “Wikipedia”

“Your business does not start unless you start selling.Sales is something that is not to
be taken lightly. Without sales you actually does not have a business no matter how good
your technology is.”  Krista Jones -MaRs

Below are some sales tips that i took notes on Krista’s lecture on sales.

 

What’s the most important thing in selling.

The more important thing in sales is about what the customer wants.  It not about overselling
him/her because you can miss the deal when you do that. Its important that you match it to them
and the way to do that is to do a series of conversation with the client.

Sales is a process.

Its a whole activity that your company undergoes.  You need to create the process for your company.   You need to manage the process, you need to staff it, innovate within it and report on it. You need to attack it in a professional manner. Sales is not to be done part time.

sales process

Figure 1.  Sales as a process

Sales is a Very  Intimate and Very Detailed Process with the Customer.

Sales a very intimate and very detail  process, customer by customer. You have to know your customer. Know what they are doing. You have to do your homework for each deal. Customer needs to feel  a connection to their sales person. Sales person should be able to relate to them on their level. Customer should be able to ask probing questions.

 

Sales  Require Skills.

In sales, there are dedicated skills that are required.  Personal skills is required. Salesmen should know their product and have a deep industry expertise.  But to me a good sales person, you have to know more than the industry. You have to push the conservation forward, what’s the next steps?, what are the action items?.

sales skills

Sales Channel

Sales channel is how you can sell. You first few sales are probably done face-to-face. However, sales can go complex  as shown by the arrow going to right. As you move forward you will be having a more complex sales cycle.

Sales can go also go “up” in terms of size of the account. As you go upward  companies will be spending a lot of money for you. Those accounts needs to be manage closely. You will need a more intimate relationship with them.

Sales Channel

 Sales Funnel

The sales funnel visually describes the sales process from initial contact to final sale.  If you are a good sales person you have to have one.  You have to manage it,  review it and visit it weekly.

Sale Funnel

Theres a 10-3-1 rule. That is for every 10 prospects, You have to 3 contacts and close 1 sales. The sucess ratio for stat up is 25:1.

The length of time required for a sale to go down the funnel depends on the complexity of the sale and the amount involved

 Sales Materials

Sales need materials in every stage. Make sure that you are presenting appropriate materials for each stage.

Sales Materials

 

 

 

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