Yes, it has been getting more competitive today to sell. In the process of Pitching, i.e. multi-stage selling, every detail must be well executed if you want to clinch that coveted deal that everyone is eyeing for.
The stages involved in the sales pitch starts with a meeting, followed by a formal, stand-up presentation. Even if the prospect decides in your favour, you need to follow-up till the end, as anything can change until you sign the deal.
It should be noted that pitching is process that is cumulative, this means that each stage must be completed to the satisfaction of the other other or you will be wasting your time and effort.
The stages involved in the sales pitch starts with a meeting, followed by a formal, stand-up presentation. Even if the prospect decides in your favour, you need to follow-up till the end, as anything can change until you sign the deal.
It should be noted that pitching is process that is cumulative, this means that each stage must be completed to the satisfaction of the other other or you will be wasting your time and effort.
To pitch successfully, you need to press the prospect's hot button.
Hot button is not to be confused with Benefits or Emotions, nor is it about Fear and Force. In sales, a Hot button is a Trigger that once activated, the person will NOT go back to the original state of mind. This means that when you press the hot button, a sale will result. You do not need to close the sale as the sale is already yours.
Note that different people have different hot buttons, and they too differ at different time. Also note that You as a Salesperson is also a hot button, the same goes for your company marketing, branding and positioning.
Note that different people have different hot buttons, and they too differ at different time. Also note that You as a Salesperson is also a hot button, the same goes for your company marketing, branding and positioning.
The first step is to Uncover their Problems. Often problems are not obvious, and you need to ask Situation Questions that will lead you to some problems that they may have. For example, when you ask them how's their business, you need to let them know that there are problems that they may not be aware of, like falling market share.
Once you have discovered their problem, you need to trigger it into a pain. This is because people don't act to solve problems, but act to alleviate a pain. Not only that, you must intensify the pain, that is, make it so painful that they cannot tolerate it any longer. Like when I let my prospect know that their declining market share is reducing their cash flow as shown in their bank statements, you can imagine the pain in their eyes.
The 4th step is to Create the Heaven, that is, let them know that if they alleviate their pain, they will be in a very ideal state, like in heaven. Let them know what they will be facing, hearing and feeling everyday when their problem is solved and everything is right in their business. Who can resist such heavenly scenario?
Finally the 5th and last step is to Give them the Pay-off Now, i.e. show them in dollars and cents what they will gain when they reach the heaven.
If you follow the above 5 steps in Hot Button Selling, you'll have a successful pitching in your business. There is no need to sell at all, for the prospect has already decided to buy. Wouldn't your business be so heavenly if you do this?
By Andy Ng, Sales Trainer at Asia Trainers, details at here.
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