Sales Tips from HBR.org 6 Reasons Salespeople Win or Lose a Sale Article

Sales Tips from HBR.org 6 Reasons Salespeople Win or Lose a Sale Article

catapult-sales

 

  1. Listen and understand and then matches solution to solve specific problem.
  2. Earn trust by making them feel comfortable and understand long-term needs.
  3. Challenges perceptions and teach new ways to solve the problem.
  4. Identify the person who will dominate the entire selection committee.
  5. Buyers aren’t necessarily fixated on the market leader and are more than willing to select second-tier competitors than one might expect.
  6. Understand your buyers preferences and previous experience and competitive landscape
    • 63% said they would select a fairly well-known brand with 85% of the functionality at 80% of the cost.
    • 33% prefer the most prestigious, best-known brand with the highest functionality and cost.
    • 5% would select a relatively unknown brand with 75% of the functionality at 60% of the cost of the best-known brand.
  7. The importance of price falls into three categories.
    1. Price conscious – product price is a top decision-making factor.
      • Example: Manufacturing, health care, real estate and fashion.
    2. Price sensitive – product price is secondary to other decision-making factors such as functionality and vendor capability.
      • Example: Banking, Technology, Consulting
    3. Price immune – price becomes an issue only when the solution they want is priced far more than the others being considered.
      • Example: Government
  8. Understanding the buyer approval processes, bureaucracy and project approval process.
  9. Match style to buyer preference:
    • Professional salesperson who knows their product inside and out but is not necessarily someone you would consider befriending
    • Friendly salesperson who is likable and proficient in explaining their product
    • Charismatic salesperson who you truly enjoyed being with but is not the most knowledgeable about their product [NB: This isn’t a option, just a by product of the industry]

 

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