Basics of the Sales Process

Every sale goes through the same seven-stage cycle, from prospecting all the way through to asking for referrals from the new customer. But the length of this cycle can vary greatly depending on the product or service you're selling.

Stop losing prospects to your competitors. You can train your prospects to appreciate your product's strengths while focusing on the competition's weaknesses.

Well-made products often cost more than their shoddier competition. Prospects know this, so selling a product that isn't the cheapest in your industry is a matter of demonstrating why your product is worth a little more.

You'll have a much easier time competing with salespeople from other companies if you can show prospects how your product is different - and better - than theirs.

Every product has a problem. So while your products have their issues, your competitors' products also have issues. The trick is keeping your prospect's focus on the areas where your product is strong and the competition is weak.

Sales is often about creating a situation in which the prospect feels comfortable and safe. That means developing trust between prospect and salesperson in a very short time period. And that's where building rapport comes in.

Businesses in a capitalist economy don't have as much control over their prices as most people think. Prices are truly determined by supply, demand and the cost to manufacture the product.

Prospects won't buy from you unless they trust you enough to think that you're telling the truth about your product – namely, that the product will benefit them. Building rapport enables you to develop that level of trust between you and your prospects.

Once you've reached the point of being a competent salesperson, there's no reason to stop there. Why not challenge yourself to become more? Start by setting a goal to be the best salesperson at your company. Once you've reached that point, keep going!

Don't think of your company's ecommerce website as a competitor. It's just another tool to generate sales, and if you work with it instead of against it you can close more sales than ever before.

A well-designed business card is a great way to pass your contact information along while at the same time presenting a professional image. Business cards are especially useful at sales events such as trade shows.

During the holiday season, non-retail sales tend to drop off because everyone is off celebrating their vacations. But that doesn't mean salespeople can't be active during that time. By shifting the focus of their activities, salespeople can prepare for a very merry post-holiday season.

Many direct marketers tailor their packets to a hoary old formula known as AIDA. AIDA stands for “Attention-Interest-Desire-Action” and describes the possible states of mind for a prospective customer.

AIDA is possibly the oldest selling process still in use today. For that reason alone, it's worth taking a look – salespeople wouldn't still be using it if it didn't work!

A buyer's market is one in which demand is low and supply is high. No one seems to be buying your product, and the few good leads that you can track down have already been pitched many times by your competitors (at absurdly low prices). Don't despair - there are ways to meet this challenge and sell successfully in the toughest marketplace.

Your state of mind has a major effect on your success in sales (or lack of it). Developing an emotional bond of sorts with your prospects is a huge part of selling. If you're feeling anxious or you're convinced you're going to fail, prospects will notice it no matter how hard you try to fake an upbeat mood.

Negotiation skills are critical for salespeople, especially B2B salespeople who must work out deals with professional buyers. Knowing how to negotiate helps in other areas of life as well.

The #1 most common rookie salesperson mistake is trying to sell their product and close the prospect in a single cold call. When you pick up the phone and start cold calling, or walk into a neighborhood and start knocking on doors, the goal should almost always be to get an appointment with the decision maker.

When your sales quota deadline is almost upon you and you're way behind, there's only one way out – short-circuiting the normal sales cycle.

Most salespeople think of objections as a bad thing... but they're missing the big picture. If your prospect raises an objection, that's actually a good sign.

'I'll think about it' is one of the most common objections that salespeople hear. It's also one of the trickiest objections to handle successfully.

Cell phones in general are extremely useful for salespeople, who often spend a lot of time on the road and value being able to stay in touch. Smartphones take this convenience a step further by enabling you to have access to a wide range of useful tools and information.

There are plenty of objections that a prospect can throw at you over the course of the sales cycle. Every time you think you’ve heard them all and have the perfect responses prepared, your latest prospect will suddenly serve up a brand new objection and you’ll be left stuttering over your answer...

In sales terminology, an objection is a concern the prospect has about buying your product.

Direct mail isn't dead as a sales technique, although some experts think it's headed that way. For the time being, a sales letter can be an excellent way to make prospects aware of and interested in your product.

Your prospects will inevitably try to get the best deal they can from you. Unfortunately, a few prospects will play some pretty dirty tricks on you to get that deal. Here are a few prospect mind games to watch out for, and suggestions on how to handle them.

What are the seven steps to how to become an Olympic Athlete in Sales? Is there even such a thing as a Sales Olympian? Why not? Everyday we are all out on the sales playing field; challenging and disciplining ourselves by molding our minds and our talents to learning and using our best sales techniques and abilities. Why not push a little further and become the best of the best -- even a Sales Champion -- at what we do? Learn what the seven steps are to becoming an Olympic Athlete in Sales.

A great selling tip for anyone selling primarily in a retail environment. If you ever have a customer that you've spent a lot of time with and just can't tell whether they are ready to buy or not, then check out this simple sales technique that you can quickly use to take your customer's temperature -- it works over ninety percent of the time to help close a sale!

How many times have you heard from your customers," I have to think about it"? There is a way of overcoming this objection with one very simple statement. Find our how in this quick tip!

The way we word things in our communication can make a huge impact on the listener. Find out how you can polish up the words and phrases that you now use to make them more appealing to the listener.

The stereotypical salesperson talks all the time. If that’s how you sell, you’re missing out on significant opportunities.

The basic rules of how to sell never change, regardless of what product or service you're selling. Break these sales rules at your peril.

Product knowledge is critical to sales. But too much product knowledge without product understanding usually just leads to a bad case of "expert-itis."