• Income/Profit: a salesperson may consider their job as their primary source of income, as supplemental income, or they driven by the idea of setting sales records.
• Independence: in commission only sales, you have the ability to make your schedule and control the amount of effort you put into the business, which is appealing to many people because you are essentially your own boss.
• Opportunity: people often consider sales as the best way to advance their careers, because there isn't necessarily a plateau.
• Helping people: some people feel that sales is very much about customer service and for them helping people is the reward in and of itself.
• Teamwork: working on a sales team is often exciting, and the comradery & competition that goes with it is something that many people enjoy.
• Recognition: you are rarely recognized in other positions, but with sales, hitting high/record breaking sales numbers is rewarded with recognition.
• Excellence: certain sales people love being known for their exceptional ability, but more importantly they enjoy honing their skills to perfection and the challenge associated with a difficult sale. These sales people are ego driven and often some of the best sales people you will ever meet.
Process: Sales Pipeline/Funnel
Sales is essentially the activity of selling a business's product/service for the purpose of revenue/profit. Whether you are B2B, B2C/direct to consumer, or a combination/variation of the two: sales is about the bottom line.
However, selling has never been and will never be a simple task.
What Motivate's a Buyer
• Solve a problem: the buyer has a problem that needs to be solved with a product or service you offer.
• Profit: the buyer is looking to buy something only to sell it at a later time for a profit.
• Fear: the buyer is buying something out of fear precaution, or safety. For example, insurance or safety equipment.
• Pleasure: the buyer is buying for their pleasure or the pleasure of someone else.
• Vanity: the buyer is looking to impress others. Think of unnecessary luxuries such as jewelry or a luxury property.
• Impulse: the buyer is buying something without thinking the purchase through, it is an emotionally driven purchase.
• Fatigue: the buyer although they could do it themselves and would do it themselves simply don't have the time or patience to take care of it on their own. These are your occasional buyers that normally DIY.
What Motivate's a salesperson :
What Motivate's a Seller (this list is geared towards brokers/"middle men," so they understand their clients motivation(s)):
• To appease someone: sometimes a person has to list something for sale just to make another person happy. Therefore the seller is not motivated to sell.
• To harm someone: some sellers sell out of spite, it's not often, but it happens.
• Profit: the best reason is when a seller is selling for profit because they are highly motivated and often purchased their product well below market value.
Approaches to selling:
• Hard Sell: aggressive sales focused on closing the deal. You do not allow the prospect to evaluate their options or the value of the purchase. This type of sales is easier to accomplish because it does not focus on relationships or repeat customers. An excellent example of this is cold calling/telemarketing (it's all about the numbers).
• Soft Sell: the soft sell is relationship based and reputation-focused (it is more difficult and for advanced sales people). The goal is for the customer/client to be thanking you by the end of the transaction and for them to send you referrals in the future purely based on their positive experience with you (the goal is for the transaction process not to feel like a sale).
1) Advertising/Marketing: the best way to get leads is through advertising & marketing, which is closely followed by referrals.
2) Leads: leads are people that loosely fit your target customer's profile. A lead has already inquired about your service or product and wants to find out more.
3) Prospects: You've responded to the lead(s), and they've responded to you, you will either proceed to qualifying or move on to the next lead.
4) Qualifying: the most important part about sales funnel is making sure the prospect(s) is/are qualified to make the purchase and if you are the right business/individual that can help them.
5) Assessing Needs: figure out what the prospect needs in terms of what you offer.
6) Proposals: you've figured out what they want/need, now it's time to make them a proposal based on your assessment.
7) Negotiation: address any rebuttals or concerns.
8) Closing: once you've addressed all their concerns it's time to close the deal and begin the transaction process.
9) Revenue: the goal of sales is to sell, generate revenue, and ultimately make a profit.
Process: Sales Pipeline/Funnel