Marketing Aptitude - Personal Selling
Category : Banking
Introduction
Personal selling is an ancient art. It is a two way communication between seller and buyer. Personal selling occurs when an individual salesperson sells a product, service or solution directly to a customer. Now, companies are spending large amount of money each year to train the sales representatives.
Steps in Personal Selling
Personal selling takes place in the following ways
Before planning a sale, a salesperson conducts research to identify the people or companies that might be interested in the product. A prospect is a lead that is qualified or determined to be ready, willing and able to buy.
The pre-approach is the 'doing your homework art of the process. A good salesperson researches his prospect, familiarising himself with the customer s needs and learning all the relevant background information.
The first impressions (e.g., the first few minutes of a sales call) are crucial to build the client's trust. This usually involves introductions, making some small talk, asking a few warm-up questions and then explaining who you are and whom you represent. This is known as approach.
The presentation should be tailored to the customer, explaining how the product meets that person or company's needs.
After the sales presentation by the sales representative, it is quite natural for the customer to have some hesitations or concerns which are known as objections. Good salespersons look at objections as opportunities to further understand and respond to customers need.
Eventually, if the customer is convinced that the product will meet his demand, he closes by agreeing on the terms of the sale and finish up the transaction.
Post sales activities that often determine whether an individual who has made a recent purchase will become a repeat customer. It helps to build mutually beneficial long-term relationships.
Characteristics of Personal Selling
\[Customer\rightleftharpoons Seller\]
An effectively trained company sales force can make four important contributions
Significance of Personal Selling
Following benefits of personal selling show its significance
By making conversation with salesperson, the customer gets help in identifying the product of his need and the price range that suits him and by giving the requisite information about the company and the product.
Personal selling helps a business in increasing its sales. Identification of new customers and persuading them to buy can be done effectively through personal selling.
Sales persons inform the consumers about the introduction of new products, if any. On their feedback, company improves the product and tries to match it with the demand/preference/ requirements of the consumers. It leads to more value to the society and more business as well.
Difference between Personal Selling and Advertising
Personal Selling |
Advertising |
Personal |
Non-personal |
Confined to particular area |
Generally covers larger number of people |
Two-way communication |
One-way communication |
Only one Channel of transmission |
Wide choice of channels |
Used only for promotion and sales of products |
Used for various other purposes such as seeking jobs, offering services |
Aims at selling existing products |
Aims at enhancing goodwill/customer base |
Salesmen get salary or commission or both |
It involves one time of expenditure |
Effectiveness depends upon qualities of the salesman |
Effectiveness depends upon design of advertisement |
Qualities of a Good Salesperson
Some of the common qualities which a salesperson must possess are as follow
Personality is a mixture of many traits like physical appearance, sense of dressing, way of talking, manners, pitch of voice, habits, etc. So, a salesperson should have an impressive personality and should also look a very friendly person.
A salesperson should be a well-behaved person with an ability to interact with people comfortably. He should also be cooperative, a patient listener who can understand the requirements of the prospective buyer.
The salesperson must speak confidently, clearly and audibly. Good communication skill coupled with good product knowledge helps the salesperson in persuading the customer to buy.
The salesperson must know the art of persistence. He/She requires a sense of determination to convince the customers to buy.
A good salesman should possess certain mental qualities like imagination, initiative, self-confidence, sharp memory, alertness, etc.
He should be able to explain each and every aspect of the product i.e., its qualities, how to use it, what precautions to be taken, etc. to the prospective buyer.
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