How The Buyer Buys. The Art of FAB Selling Joel D. Schaffer, MAS CEO Soundline, LLC...

How The Buyer Buys.The Art of FAB Selling

Joel D. Schaffer, MASCEOSoundline, [email protected]

Our ObjectiveOur ObjectiveTo understand how people buy

in order to learn how to present and sell.

The OutcomeThe OutcomeTo take the information and apply it in preparation of

the presentation and in the actual sales presentation

itself.

The ContentThe ContentHow Buyers Buy – Spin Selling

How Best Sellers Sell – FAB SellingThe integration of two key techniques

A Group SurveyA Group Survey

Do you sell “programs”? Do you sell expensive items? Do you sell complicated products?

A change in your presentation skills can precipitate a huge shift in your earnings potential.

What Are The Factors That What Are The Factors That Motivate A BuyMotivate A Buy ? ?

1. Physical characteristics – From color to construction, an aspect of the product, or service that has high appeal.

2. Life style – It will improve their life, business, image, productivity, competitiveness. It’s a toy, it looks good in the driveway.

3. Opportunism – It’s a deal, the last one, special offer.

4. Need - a genuine and pressing need for the product, or service to fill a void, or replace and existing solution.

Premise

People buy on the condition of satisfying the question

What’s In It For Me ?W I I F M

To answer that question they need to know “what is the benefit I get out of buying that specific product or, program ?” This logic applies to all we do in life.

Fear of Buying - Rate YourselfFear of Buying - Rate Yourself1-None 2- Some 3- Moderate 4- Strong

Item Investment

Knowledge

Total Risk Benefits

Toilet Paper

Wallet

Car

House

Long Term Health Care Policy

Personal Buying DecisionsPersonal Buying Decisions

What is the difference in your buying criteria for each

of these items ? Buying a roll of toilet paper.

Buying a wallet.

Buying a car.

Buying a long term extended care policy.

$$

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What Do You Want From A Sales What Do You Want From A Sales Person For Each Of These Purchases?Person For Each Of These Purchases?

•The more expensive the product, the more difficult the buy.

Toaster – Snow blower

•The more complex the product/service, the more difficult the buy.

Beautician – Obstetrician

•The more risk in the product, the more difficult the buy.

CD (Certificate of Deposit) – 100 shares of a gold mine

•The more exposure to failure, the more difficult the buy.

SignMaker – Adobe Illustrator 11

•The less experience you have, the more difficult the buy.

Engagement ring – 25th anniversary diamond ring

•The more complex the ordering & distribution, the more difficult

Chocolate in the winter – Chocolate in the summer

•The more customized the product, the more difficult the buy.

Kitchen cabinet in Home Depot – Custom kitchen

The Real Fear of BuyingThe Real Fear of Buying

Other Fear FactorsOther Fear Factors

Creative product Unknown vendors Tight deadlines Art complications __

Defining Promotional Product Defining Promotional Product Sales TypesSales Types

Presenter_______________________________________________________________________________________________________________________________________________________________Salesperson_______________________________________________________________________________________________________________________________________________________________Consultant_______________________________________________________________________________________________________________________________________________________________

A promotional products distributor needs all three capabilities. The key to success is knowing when and how to employ each technique

Places one or more products on the desk and helps guide the Buyer through the decision making process.

Identifies a specific product and provides the buyer with features, advantages and benefits of the product.

Through probing and research identifies the client’s problem and need then prescribes a “solution” to satisfy the need and remedy the problem.

F.A.B. F.A.B. SELLINGSELLING

Selling requires a presentation of all ingredients

F. A. B.

F = FeaturesF = FeaturesA = AdvantagesA = AdvantagesB = BenefitsB = Benefits

F.A.B.F.A.B. In The Sales ProcessIn The Sales Process

A Product –Has features It’s Use – Has advantages The Result - Has benefits

F. A. B.

What Do You and Our Industry What Do You and Our Industry Do ?Do ?

Your company is a promotional agency and you apromotional consultant helping businesses with their key asset – people.

Your fundamental impact is on human behavior. You have the ability to modify it through the use of

promotion and promotional product.You provide the “ARMER” for the tasks your client’s

wish to accomplish.

•Appreciate•Recognize•Motivate•Educate•Reinforce

Joel D. Schaffer,MAS. Soundline

Most people who buy our products and services do not do it as a fulltime job. They have not been schooled, they are not very experienced in the design and creation of promotional programs.

•What do they need from you?

•Can the same presentation work on everyone?

About Our BuyersAbout Our Buyers

You Are Not Who You Think You Are !

1. You are not “stuff” salespeople.2. Your are not vendors.3. You are promotional agencies offering

creative service, program developmentand execution.

However, the tools of your trade.....

You’ve Got a ProblemYou’ve Got a Problem

Contents Physical appearance

Price Relationship to time Weights & measures

Schmooze Superlatives

THE VAST MAJORITY OF SUPPLIER CATALOGS AND CASE HISTORIES TOUT FEATURES. RARELY DO WE FIND BENEFITS AND SCARCELY CAN YOU FIND A BENEFIT STATEMENT.

SUPPLIER CATALOGS “SUCK”SUPPLIER CATALOGS “SUCK”

Including Mine!Including Mine!

Supplier Catalog TestSupplier Catalog Test

Great presentation tools, poor sales tools and mostly rotten consulting tools.

Virtually all catalogs give only features. By the nature of the diversity of the application

of supplier products, it is almost impossible for a supplier to provide a comprehensive sales tool that presents the needed information and targeted data.

Suppliers do not provide information on a given product’s advantages and benefits.

Clients and prospects expect a sales associate to be able to extrapolate and cite benefits.

Pre-presentation preparation should include the exercise of advantage and benefit identification.

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If All You Have Are Features, How Does That If All You Have Are Features, How Does That Effect The Process Impact ?Effect The Process Impact ?Where the information helps the sale

BehaviorBehavior DefinitionDefinitionImpact On Buying Decision Impact On Buying Decision FROM (-) TO (+)FROM (-) TO (+)

Small Small SalesSales Larger SalesLarger Sales

FeaturesDescribe facts, data, product characteristics

Slightly (+) Neutral to little (-)

Advantages

Show how the product or service can be used, or help (+) Slightly (+)

Benefits

Show how product or service meets the explicit needs expressed by customer Very (+) Very (+)

Asking questions that get to the buyer’s needs.

Asking questions that get to the buyer’s needs.

Crystallizes what the buyer is saying and how pressing the needs are.

Asking questions that get to the buyer’s needs and indicate possible solutions.

Four Question Technique = S.P.I.N.Four Question Technique = S.P.I.N.

•So Bob, what’s up ?•What have you used before ?•Have you bought anything yet ?•Do you have a budget?•W-W-W-W-H ?

•Is your budget going to allow you to buy enough product?•Do you have enough time left to get what you need accomplished?

•So, is this correct, you have 3 days to get 100 shirts to New Orleans And if you don’t your booth staff will not have apparel ?

•So, to keep your safety record strong you need to invigorate your awards and incentives.

Defining The QuestionsDefining The Questions

Initial use of situation questions to establish the background facts. Not too many to irritate, or bore.

Problem questions to explore problems, dissatisfactions. Problem questions uncover implied needs.

In small non-threatening sales solutions can be offered at this point. In larger more threatening sales ask implication questions to make the implied needs larger and more urgent.

Gain buyer’s agreement that the problem is serious enough to justify action. Deliver need payoff questions to encourage buyer to focus on solutions and to describe the benefits that solution would bring. If I can --------- will you --------- ?

Adapt To The Situation – Remodel As NeededIf customer calls with explicit need you go right to the Need-payoff

Questions

S.P.I.N.S.P.I.N.

General Promotional Product General Promotional Product Features or BenefitsFeatures or Benefits

STATEMENT FEATURE BENEFIT

Constant long term exposure [ ] [ ]

Increase sales [ ] [ ]

Increase profits [ ] [ ]

Increase customer base [ ] [ ]

Introduce new product faster [ ] [ ]

Increase traffic [ ] [ ]

Build brand loyalty [ ] [ ]

Gain customer appreciation [ ] [ ]

Lower cost of workers compensation [ ] [ ]

Increase employee loyalty [ ] [ ]

Increase productivity [ ] [ ]

Reduce defects [ ] [ ]

Reduce accidents [ ] [ ]

Motivate attendance [ ] [ ]

Reduce downtime [ ] [ ]

Talk “dirty” to me. Talk the language of the buyer

FAB Your Proposals… John Fellows from Selling Power Magazine

1) Budget and OverviewThis first proposal section should let prospects know up front how much it will cost to follow your recommendations.

2) ObjectiveThe objective section should clearly define the goal of your proposal

3) StrategyHow do you plan to meet your objective? Two or three lines to give the prospect a "rough sketch" of your plans.

4) TacticsThe tactics section should describe how you're going to do it.

5) ScheduleYour recommendation should lay out a schedule for action.

6) ResultsShow your prospects how your action plan translates into personal benefits for them.

7) RationaleThe rationale section should present "closing arguments" that use both logic and emotion to convince prospects to buy. Use benefits - not features - to summarize why the prospect should buy now.

Always add Confidential & Proprietary ©

ReviewReview

It’s not only how you sell – it’s how buyers buy. Do not count on catalogs for help, prepare early

and assemble the benefits. Use Questions to build a comfort level for the

buyer. Use Questions to help the buyer recognize their

need. Use Questions to “partner” with the buyer. Sell up. Sell more expensive. Sell more complicated .

How Buyers BuyThe Art of FAB

sellingJoel D. Schaffer, [email protected]

Thank Thank YouYou

Work BookWork Book

Use the following pages to attempt the identification of benefits. Be situational, imagine being asked for solutions for a more complex need ,or program (safety, trade shows, awards etc.)

What are the features ?

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What Are The Advantages ?

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What Are The Benefits ?

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What are the features ? ________________________________________________________________________________________________________________________________________________

What Are The Advantages ? ________________________________________________________________________________________________________________________________________________

What are The Benefits ?

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How The Buyer Buys. The Art of FAB Selling Joel D. Schaffer, MAS CEO Soundline, LLC...

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