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CHAPTER 16: Personal Selling and Sales Promotion - Coggle Diagram

- - - - They are responsible for finding new customers, building relationships, and addressing customer
      - They also provide valuable insights to the company about customer needs and market trends.
      - Salespeople represent both the company and the customer.
    - - In B2B companies, salespeople often have direct contact with customers.
      - In B2C companies, salespeople may work with intermediaries like wholesalers and retailers.
      - The importance of personal selling varies across industries and companies.
    - - Effective collaboration between marketing and sales is crucial for customer success.
      - Misalignment between these functions can lead to inefficiency and decreased customer satisfaction.
      - Companies should foster strong communication and cooperation between marketing and sales teams.
    - - Increased communication and joint activities can strengthen the relationship between marketing and sales.
      - Shared objectives and reward systems can align incentives and foster teamwork.
      - Appointing marketing-sales liaisons and a high-level executive to oversee both functions can help ensure strategic alignment.
    - - It can be conducted through various channels, including face-to-face meetings, phone calls, email, social media, and video conferences.
      - It is particularly effective in complex sales situations where customized solutions are required.
      - Personal selling involves direct interaction between salespeople and customers.
- - - - Sales management should guide salespeople to advocate for value, not just lower prices
      - A focus on understanding customer needs and delivering solutions is key to transforming sales practices
    - - A sales representative demonstrated value by identifying and solving a customer’s operational issue, providing a data-driven cost-saving solution
      - Despite a higher initial price, the representative earned the sale and the customer’s loyalty through tangible value and superior performance
    - - Cutting prices is a short-term approach, whereas value selling fosters sustainable customer relationships
      - Successful sales organizations emphasize value selling—demonstrating and delivering superior customer value—over simply competing on price
    - - Solve, don’t sell: Focus on solving customer problems and achieving their goals
      - Deliver value: Stay engaged before and after the sale to ensure customer satisfaction
      - Share readily: Be transparent and provide valuable information and insights
      - Earn trust: Build long-term, trusted relationships by acting in the buyer’s best interests
      - Learn, then define: Actively listen to understand buyers’ challenges and needs
    - - Salespeople must adapt their processes to align with modern buyers who complete much of the buying process independently before engaging with sellers
      - Traditional selling steps focus on closing individual sales, but companies aim to build long-term, mutually profitable relationships with customers
  - - - Sources for leads include referrals, directories, online research, and AI tools.
      - Leads are qualified based on factors like financial ability and growth potential.
      - Salespeople identify potential customers who align with the company’s value proposition.
    - - Focus on making a positive first impression and building rapport.
      - Effective listening and understanding customer needs are essential
    - - Active listening and tailored solutions are key to successful presentations
      - Emphasis on showing how products solve customer problems rather than using a hard-sell approach.
    - - Salespeople develop a strategy, set objectives, and determine the best communication approach.
      - Involves gathering detailed information about prospects and their needs.
    - - Approach: Making the first contact and establishing a positive connection.
      - Presentation and Demonstration: Presenting solutions to customers' problems.
      - Preapproach: Researching and preparing for interactions with prospects
      - Handling Objections: Addressing and overcoming any customer concerns.
      - Closing: Finalizing the sale through effective techniques.
      - Follow-Up: Ensuring satisfaction and fostering repeat business.
      - Prospecting and Qualifying: Identifying and evaluating potential customers