Sales techniques are methods and tactics used by sales people in order to sell products and services. While the steps are universal, the sales person will usually apply their own experiences, their understanding of the customer and even a little guesswork into the equation. Selling is typically a career with a lot of rejection, thus sales people who master sales techniques and have the ability to handle the emotional stress of daily rejection, are often rewarded with high salaries.
The most common sales technique involves "prospecting” new clients through marketing, referrals and research. The next step is the sales pitch, where the product is explained, discussed, questioned and determined if it will work for the client. The final step is closing the sale. This is when deals are signed, money is exchanged and the sale is finalized. Throughout each step, several things can occur that will affect and influence whether the next step proceeds or not.
Prospecting is the first sales technique. During this phase, sales people work in conjunction with marketing teams to identify potential customers. Marketing departments advertise and create a demand for the product or service that a company is selling. People who show interest are considered leads because they have indicated an interest in the product or service that is being offered. These leads can be driven through direct marketing or by referral. Referrals have a tendency to deliver higher results because they are based on a recommendation from a trusted person.
Once a lead is identified, a sales person will then speak to the lead and begin to qualify them. This is done by asking questions in order to understand as much as possible about the potential customer. The sales person will want to find out what the customer is looking for, what their needs are, what their goals are and what issues they may have had with similar products or services. Getting to know the customer is key.
At the end of the prospecting phase, sales staff will typically schedule a follow-up conversation with potential customers. It is at this point that they begin tracking what they've done with potential customers, through the use of CRM software. Documenting calls and including important notes about customers is crucial to the sales process, however all too often CRM software consumes too much time. Sales people are now demanding lighter software allowing them to report and track sales via smartphones, all in a fraction of the time.
With the prospecting phase complete, the next step is the sales pitch. The sales person and potential customer will meet again to further discuss the product or service for sale. At this time, the sales person will have a planned strategy, which may include a presentation or additional materials, in an effort to persuade the potential customer to buy. Through the information they have gathered about the client and their needs, sales staff can easily show how the product or service will improve the customers' business.
Following a successful sales pitch, the sales person moves on to the final phase of the process, known as the closing. In this phase, the customer agrees to purchase a product or service from the sales person. The sales person will usually try to up-sell and negotiate more product or services between the two. It's crucial that the sales person knows when to push for further sales and when to pull back. Pushing too much can offend potential customers, causing them to walk away from the deal altogether, while backing off on an up-sell could result in lost sales.
These three sales techniques are universal in the sales industry and, while they can be applied in different ways depending on the sales person, their objectives remain steadfast.