Fresh out of college, Vaibhav embarked on a journey to understand the corporate world. The professional world was still a mystery for him and he wanted someone to be the guiding light to help him glide through the professional dimensions. He asked his uncle, Sivaranjan, a vice president of one of the major corporations in India to be his mentor in this journey.
Sivaranjan was happy to guide him and shared his learnings and experiences to conquer challenging situations and provided valuable insights into the industry. They walked through the dynamics of professionalism together and Vaibhav was ready to set foot in the corporate world. Vaibhav not only gained knowledge to upskill himself but also found a lifelong mentor in his uncle Sivaranjan.
Vaibhav had always been curious about the world of sales and wanted to learn the tricks of the trade. Armed with enthusiasm and a desire to conquer new frontiers, he was determined to learn and grow, embracing every challenge that came his way. He secured his first job as a sales professional for a renowned company specializing in cutting-edge technology. Although excited about his new venture, he soon realized that the sales landscape was far more intricate than he had imagined. He faced numerous challenges, from finding potential clients to closing deals, and his lack of experience left him feeling overwhelmed.
Aware of the need for guidance, Vaibhav decided to contact his uncle Siva to seek guidance and in-depth knowledge about the sales world.
“Uncle, I have always been fascinated by the world of sales and I want help to navigate the treacherous waters of sales. Will you be my mentor once again?” Vaibhav asked, his voice filled with hope.
Siva looked at his eager nephew and smiled. He saw the same hunger for success in Vaibhav’s eyes that had once possessed himself. “Of course, Vaibhav! I am honored that you think so highly of me. I’d be happy to be your mentor,” he replied warmly.
Vaibhav’s journey took a remarkable turn and Siva said, “We will start our journey with understanding the basics of sales and selling and then will take it from there.”
Vaibhav shook his head in approval.
Siva asked, “Vaibhav, do you know that selling is one of the oldest documented occupations, with many innovations, books, techniques, and inventions? They have influenced how we sell and how customers buy.
Siva continues, “In the ever-evolving world of marketing, selling stands as a pivotal element in driving business growth and maintaining competitive advantage. As organizations strive to connect with customers, establish brand loyalty, and maximize profitability, the art of selling emerges as an indispensable facet of their overall marketing strategies.”
Vaibhav, we will start our journey by exploring the multifaceted importance of selling and taking center stage, demonstrating its influence on almost every aspect of marketing.
What Is Selling?
Vaibhav, selling is described as exchanging any sellable commodity/product/service for monetary compensation, passing ownership to the buyer, and:
- Prospective customer/client identification
- Making or causing a demand
- Service or information provided to the buyer
Cundiff, Still, and Govoni define selling as—a seller must identify those people or potential consumers who can be persuaded to buy a particular product. Because no two sales are alike, the “persuasion” aspect is critical.
For instance, purchasing and refilling a vehicle are two distinct types of transactions. You don’t need to be convinced that refueling is necessary. However, purchasing a vehicle is a considerably larger commitment, and larger investments require convincing, explained Siva.
I am getting a better understanding of the selling process, said Vaibhav.
Vaibhav, selling continues to be an indispensable force that drives organizational success. Recognizing the significance of selling in different dimensions of business can craft comprehensive marketing strategies that yield remarkable results. If you embrace the power of selling, it can empower your organization to connect with customers, drive conversations, and stay ahead in an ever-changing competitive marketplace, said Siva.
Once the business landscape starts to evolve, it becomes evident that the integration of selling within marketing endeavors is paramount to achieving sustainable growth and maintaining a thriving market presence, continued Siva.
Thank you, uncle, for explaining its importance to me so pristinely, said Vaibhav.
Now let’s dive a little deeper to understand the buying and selling process, said Siva.
The Dynamics of Buying and Selling Process
Vaibhav, when we unravel the sales process, the buying and selling process lies at the heart of commercial transactions, shaping the relationships between customers and sellers. In today’s competitive marketplace, understanding this process is essential for sales professionals aiming to drive revenue and foster customer loyalty, said Siva.
Let’s explore the intricacies of the buying and selling process, shedding light on its steps, key dynamics, and the interplay between buyers and sellers— continued Siva.
The Buying Process
Vaibhav, the buying process represents the journey undertaken by a customer when considering a purchase. Research shows that consumers typically progress through several stages before making a buying decision. Here are the distinct steps in the buying process, stated Siva.
1. Identifying the need
It is where a buyer recognizes a need or a problem to be solved. This may be triggered by an internal stimulus (such as a desire for personal fulfillment) or an external stimulus (such as an advertisement). The buyer actively seeks information to identify potential solutions. They may engage in internal information retrieval (drawing on memory), external information search (consulting friends, family, or online sources), or marketing communications (advertisements, sales representatives, or websites).
2. Comparison analysis
The buyer compares and evaluates the available options based on various criteria, including price, quality, features, and perceived value. This step often involves weighing the pros and cons of each alternative.
3. Alleviate queries
Now that the buyer has all the available options right in front of them, it includes addressing and resolving any concerns, objections, or doubts that may arise along the way. It underscores the importance of the salesperson’s role in clarifying information, providing reassurance, and ensuring that the buyer’s concerns are effectively addressed.
4. Make a choice
After assessing all the alternatives, it’s time for the buyer to reach a decision based on the options available and addressed queries. It emphasizes the act of actively selecting one option among the evaluated alternatives.
Vaibhav, this is how a buying process takes place, and it is important to note that the buying process can vary based on the industry, complexity of the purchase, and individual buyer preferences. Using a variety of terms can add depth and nuance to the discussion, enhancing the understanding of the buyer’s journey and decision-making process, explained Siva.
You made me understand the process in such a way that it will be embedded in my head. It also made me understand that as a seller, I should be patient enough to understand their needs and specifics to deliver them their desired product or service, added Vaibhav.
Yes Vaibhav, as a sales professional you should possess the expertise to identify customer needs, personalized offerings, and establish meaningful connections, said Siva.
Now let’s delve into the selling process.
Selling Process
Vaibhav, the selling process aligns with the buying process, intertwining the efforts of sales professionals with the customer’s journey. Effective selling involves understanding the buyer’s mindset and tailoring strategies to address their specific needs and concerns. The sales process can be broken down into several stages, with variations depending on the specific sales model or industry. Let’s have a look at the ODPEC model.
1. Opening the call
It involves initiating the conversation with the potential buyer. Your goal as a sales professional is to establish rapport, capture the buyer’s attention, and create a positive first impression. Effective opening techniques include introducing oneself, expressing genuine interest, and setting the stage for a productive discussion.
2. Developing the Need
Once rapport is established, you should strive to understand the buyer’s needs, challenges, and goals. Active listening and asking relevant questions help uncover critical information. By identifying the buyer’s pain points and specific requirements, you can tailor their pitch and demonstrate how their product or service can fulfill those needs effectively.
3. Propose the Solution
In this step, you present the solution to the buyer. You highlight the features, benefits, and unique selling points of their offering. The aim is to clearly articulate how the product or service addresses the buyer’s needs and provides value. You may use product demonstrations, case studies, or customer testimonials to reinforce the effectiveness of their solution.
Always remember Vaibhav, customers like sales professionals to be knowledgeable. So, be prepared and do your homework in advance before you initiate the call, said Siva.
Sure uncle, exclaimed Vaibhav.
4. Eliminate the Doubts
Addressing any doubts or objections is essential for building trust and confidence in the buyer’s mind. You should actively listen to the buyer’s concerns and provide persuasive responses that alleviate doubts. By offering additional information, clarifications, or supporting evidence, you can help the buyer overcome any hesitations and move closer to making a favorable decision.
5. Close the Call
It marks the culmination of the sales call. You aim to secure a commitment from the buyer. This can involve asking for the order, discussing pricing and terms, or offering incentives to encourage a positive decision. Effective closing techniques include creating a sense of urgency, highlighting limited-time offers, or reiterating the value proposition.
Understanding both the buying and selling processes is crucial for you to navigate customer interactions successfully. By aligning your strategies with the buyer’s journey and employing effective selling techniques, you can increase your chances of closing deals and building long-term relationships with customers, said Siva.
I hope you got a good grasp of the processes, asked Siva.
Yes uncle, I am confident that your support will take me to new heights and I will be able to generate more revenue and achieve mutually beneficial outcomes.
One more thing that you need to get a grip on is that it requires a combination of communication skills, product knowledge, empathy, and the ability to adapt to various situations and customer preferences. So, try to get aligned with these things too if you aim to persuade and influence your customers to make a purchase, added Siva.
I will keep that in mind, uncle, thank you, said Vaibhav.
https://www.linkedin.com/pulse/journey-salesman-national-sales-operational-manager-afex/
https://www.marketingtutor.net/selling/
https://www.thebalancemoney.com/successful-selling-2948353
https://brand24.com/blog/wp-content/uploads/2022/08/What-is-Personal-Selling-Definition-Process.png
Written By: Jimmy Jain
Edited By: Afreen Fatima
Society of Design Thinking Professionals
