Professional Selling 2nd Edition

1 Sales and Today’s Sales RoleWhat Is Sales?Why the Sales Function Is So ImportantThe Benefits of Sales Experience and Understanding the Sales ProcessTake Advantage of the Global Sales Talent ShortageMake a Meaningful Contribution QuicklyBuild a Powerful NetworkBuild a Flexible CareerBe in Charge of Your DestinyGet the Desired Job or PromotionSales and EntrepreneursThe Sales Professional: What Leads to Sales Success?Strong Communication SkillsNegotiation SkillsBusiness AcumenOther-FocusedResilient with a Will to WinSelf-Motivated and Willingness to Accept ChallengeDedicated to Lifelong LearningAbility to Constantly Learn and Use New TechnologyGood Time Management SkillsProfessional with High IntegrityAre Good Salespeople Born or Made?The Transformation of the Sales Process: The Sales TimelineVariety in Sales RolesAccount ManagementNew Business DevelopmentStrategic Account ManagementMissionary SellingSales EngineersOutside Sales RepresentativeInside Sales RepresentativeOther RolesEight Myths about SalesOnly Salespeople Need to Understand How to SellOnly Extroverts Succeed in SalesSuccessful Salespeople Are Fast-Talking and ManipulativeSalespeople Are UnethicalAll Sales Jobs Are AlikeNo Need for a College Degree to Go into SalesSalespeople Don’t Need to Understand Accounting and FinanceA Sales Career Lacks SecurityEveryone SellsChapter SummaryKey Terms2 The Buying ProcessWhat Is the Buying Role?Why Do Sellers Need to Understand the Buying Role?Buying in Organizations and the Transformation of the Buying RoleBuyer MotivationUnderstanding Features and BenefitsBuying Decision CriteriaThe Buying Decision ProcessThe Buying Decision Process in Action: An ExampleWhy Salespeople Need to Understand the Buying Decision ProcessFactors That Influence the Buying Decision ProcessProduct ComplexityCommoditization of ProductsProcess ComplexityDecision LevelRiskTimeline for PurchaseAdding Value to the Buyer’s ProcessReduce Risk and ComplexityAlign ProcessesBecome a Trustworthy ConsultantChapter SummaryKey Terms3 Professionalism and Effective CommunicationWhat It Means to Be a ProfessionalIntegrityCompetencyHumilityAccountabilitySelf-RegulationProfessional ImageEmotional IntelligenceImportance of Emotional IntelligenceComponents of Emotional IntelligenceImproving Emotional IntelligenceImportance of Communication Skills in SalesDeveloping Effective Verbal Communication SkillsVocal QualitiesSending and Reading Nonverbal MessagesBody LanguageFacial ExpressionsEye ContactThe HandshakeAppearance and DressListening to SellThe Role and Importance of ListeningActive ListeningAdaptive CommunicationSocial Style MatrixUnderstanding Social Style and Adapting to the CustomerCommunication Using TechnologyPhone and VoicemailTextingVirtual Sales CallsEmailProfessionalism in Social MediaChapter SummaryKey Terms4 Lead Generation and ProspectingIdentifying LeadsReferralsNetworkingCold CallingWarm CallingEmail ProspectingSocial mediaArtificial IntelligenceQualifying LeadsResponsibility for Generating Leads: Sales vs. MarketingSales PipelineProspects, Leads, and ContactsQualified ProspectsHot ProspectsCustomersPreparing for the First ContactPhone CallsEmailInbound vs. Outbound MarketingRole of CRMChapter SummaryKey Terms5 Planning Sales Calls and PresentationsReturn on PlanningGathering Pre-call InformationCustomer KnowledgeProduct KnowledgeUnderstanding BenefitsGeneral and Specific BenefitsCreate Bridge StatementsAligning Benefits Against the CompetitionPositioningMarket KnowledgePreparing for the PresentationDefine the Objective(s)Goal for Customer CommitmentsYour Plan for Capturing InterestInitial Questions to Assess NeedDifferent Preparation and Agendas for First Calls, Multiple Calls, and Group PresentationsPreparing the TeamChapter SummaryKey Terms6 The Sales CallPurpose of the Sales CallComponents of the Sales CallApproachRapport BuildingTransitioning to the Discovery PhaseDiscovery or Needs IdentificationPurpose of Needs Discovery and QuestioningPresentation: Value Propositions and RecommendationsHow Does a Salesperson Know What Their Product’s or Service’s Value Propositions Are?Basic Components of a Value PropositionComponents and Crafting of RecommendationsConsiderations of Time and Dynamics of the Sales CallPutting It All TogetherChapter SummaryKey Terms7 Making the PresentationGoals of Effective PresentationsSpeak to the Customer’s SituationImprove the Buyer’s UnderstandingFocus the Buyer’s AttentionLeave an ImpressionCreating Value During the PresentationAlign the Customer’s Problems with Solution BenefitsConfiguring the SolutionMake RecommendationsTransition to Presenting Problem ResolutionPresent Problem ResolutionVisual Presentation ToolsVerbal ToolsLeverage the Unique Value PropositionQuantify the SolutionSetting the Next StepsChapter SummaryKey Terms8 ObjectionsThe Value of Objections and Addressing ConcernsWhen and Why Buyers Raise ObjectionsAppointment SettingSales Calls and PresentationsAttempts to CloseCommon ObjectionsNeed ObjectionsProduct- or Service-Specific ObjectionsSource or Company ObjectionsTime ObjectionsPrice ObjectionsResponding to ObjectionsListen, Acknowledge, Assess, Respond, and ConfirmResponse MethodsWhich Response Method Is Most Effective?Assessing Whether the Objection Has Been OvercomeChapter SummaryKey Terms9 ClosingClosing (Securing Commitment) and Being Customer-OrientedOvercoming Anxiety, Being Confident, and Reading Buying SignalsClosing MethodsDirect RequestBenefit SummaryTrial OfferClosing Techniques to AvoidIf the Attempt to Close Is AcceptedIf the Attempt to Close Is RejectedPlan for the FutureChapter SummaryKey Terms10 Sales NegotiationNegotiation FundamentalsNegotiation DefinedBasic Approaches to a Sales NegotiationCharacteristics of Different Types of Negotiation ApproachesUsing a Distributive Negotiation Approach to Resolve a Single Issue ConflictUsing an Integrative Negotiation Approach for Resolving Multiple-Issue ConflictsCooperative Bargaining Styles in Integrative NegotiationsBuilding Blocks for Effective Sales NegotiationBargaining StylesPersonality FactorsGoals and ExpectationsInterests and PrioritiesLeverageRelationship NormsThe Sales Negotiation ProcessSales PlanningSharing and Exchanging InformationOpening Bids and Making ConcessionsClosing to Gain CommitmentChapter SummaryKey Terms11 Territory, Time, and Resource ManagementTerritories and Territory ManagementTypes of TerritoriesTerritory GoalsGoals Set By Salespeople for ThemselvesMaking Territory Goals S.M.A.R.T.Territory Strategy as a Resource Allocation PlanManaging TimePrioritizing Within the TerritorySchedulingTravel/Route PlanningManaging Company ResourcesExpense ManagementInterdepartmental ResourcesTeam SellingSelf-Management in SalesWorking HardWorking SmartChapter SummaryKey Terms12 Digital SalesChange Forces and Digital TechnologiesGlobalizationTechnological ChangeChange in CompetitionChange in Customer ExpectationsRemote SellingThe Customer’s Digital Buying JourneyAcquiring InformationAssessing OptionsAchieving SatisfactionWhat Is a Digital Sales Strategy?Digital Sales StrategiesAuthenticity and the Human TouchDigital Selling ToolsSocial SellingArtificial IntelligenceCustomer Relationship Management StrategiesLead Generation and ProspectingPlanning Sales CallsThe Sales CallCustomer Objections, Negotiations, and ClosingBenefits and Challenges of Digital SellingChapter SummaryKey Terms13 Strategic Accounts and Team SellingSelling to Strategic AccountsDefining Customer Business DevelopmentSAM Strategy, Tactics, and LeadershipSAM Team Structure and Performance EvaluationPerformance EvaluationSAM Professional Selling ProcessesSAM Tasks That Help Forge Better Business RelationshipsChapter SummaryKey Terms14 Sales EthicsEthics and Personal SellingHigh-Profile Ethical Scandals Involving SalespeopleRelationship Between Laws and EthicsEthical Frameworks and Decision MakingImportance of Building TrustIt’s Not Enough to Be Merely LegalRelevant LawsFraudulent Misrepresentation vs. PufferyBusiness DefamationBriberyPrice DiscriminationReciprocityTying AgreementsCooling-Off LawsGreen River OrdinancesTelephone Consumer Protection ActInternational LawsKey Areas of ConcernHigh-Pressure SalesGiftsEntertainmentConfidentiality LeaksExpense AccountsRomantic RelationshipsWorking Alone and UnsupervisedArtificial IntelligenceFactors That Contribute to a Strong Ethical Work ClimateEthical LeadershipReward SystemPersonal Characteristics of HonestyEthics Discussed in Training ProgramBenefits of Strong Ethical Work ClimateDeveloping a Code of EthicsReinforcing the Code of EthicsChapter SummaryKey Terms15 Role-PlayThe Purpose of Role-PlayThe Value of Experiential LearningHow We LearnCompetence, Behavior and the Need for Continuous LearningThe Value of Role-Play for SalespeoplePreparing for Role-PlayMental PreparationPractical Preparation: The Seller RolePractical Preparation: The Buyer RoleTeam Selling Role-PlayChapter SummaryKey TermsRole-Play Worksheet: ApproachRole-Play Worksheet: Discovery/Needs IdentificationRole-Play Worksheet: Presentation, Value Proposition, or RecommendationRole-Play Worksheet: Customer Questions and ObjectionsRole-Play Worksheet: Closing or Securing CommitmentRole-Play Evaluation CriteriaNotesIndex