Page 28 - Banking Finance August 2019

ARTICLE

Y A warm hand shake will make a difference Y Lose face by making an offer so extreme that you have
Y Smile with your mouth-and with your eyes to back down
Y Keep it simple and short Y Answer questions with a direct 'yes' or 'no'
Y Put yourself in the customers shoes and find out what Y Forget to make direct eye contact
he/she needs. Y Respond too quickly
Y Buyers need us to : Y Sales people need to understand the three related
Y Have knowledge about products and services functions
Typical customer needs
Y Ability to keep promises
Buying motivators
Y Reckless promises damage integrity
O Customers buy benefits - present product facts
Y Don't make false promises
to the customer by emphasizing the benefits
Y Always remember your promise that they will gain from the purchase
Y Promises grow like rumors Product knowledge - increasing product knowledge
Y Honesty is an essential task for every sales person. It is a
Y Confidence of the support and backup from the sales vital tool which will help you achieve success in
person's firm selling. Sales people need to know:
Y Willingness to help in a crisis O What the product is
Y Sensitivity to customers' difficulties O What the product does
Y Information and accuracy of information given O How the product fulfills customers' needs and
expectations
Y Admittance of products' or services' weaknesses
O Any other relevant information which leads to
selling of product or services more efficiently.
Do's and Don'ts in Sales Negotiation
Process Finally…………..

Do: Selling is more a matter of will than skill and we need both
Y Use humor only when appropriate
Selling is nothing but the transfer of enthusiasm from seller
Y Listen carefully to the other party to the buyer
Y Remember that buyers like to be sold to - so show you
With the same product and under the same circumstances
are making an effort
there are some people who break records while others
Y Make conditional offers - such as 'if you do that, we'll
break themselves.
do this.
Y Use open questions - 'what if?' or 'How do you feel?' First impression is best impression because we never get a
Y Exchange information - don't just give it away second chance to create a first impression
Y Summarize the proposals at regular stages
So Create a Best First Impression to the
Don't: Clients
Y Let emotions get in the way. Start speaking until you First Impression includes body-language, gestures, postures,
have got something relevant to say shaking hands, smile, eye contact, attire, manners,
etiquette i.e., socially acceptable behavior and greetings.
Y Rely on memory to record points of detail - write them
down
WITH THE SAME PRODUCT AND UNDER THE SAME
Y Make too many concessions early on CIRCUMSTANCES THERE ARE SOME PEOPLE WHO BREAK
Y Make the customer look or feel foolish RECORDS WHILE OTHERS BREAK THEMSELVES. T

28 | 2019 | AUGUST | BANKING FINANCE