Sales

The exchange of a commodity for money; the action of selling something.

A period during which a shop sells goods at reduced prices.

An activity of transferring the own resource for liquidity.

( Liquidity is useful for purchasing any product)

( no condition for profit or loss)

it could be loss or profit in sale.

There is always bargain in sale,

  1. : to deliver or give up in violation of duty, trust, or loyalty and especially for personal gain:betray —often used with out <sell out their country>
  2. 2a(1):  to give up (property) to another for something of value (as money) (2) :  to offer for saleb :  to give up in return for something else especially foolishly or dishonorably <sold his birthright for a mess of pottage>c :  to exact a price for <sold their lives dearly>
  3. 3a: to deliver into slavery for moneyb :  to give into the power of another <sold his soul to the devil>c :  to deliver the personal services of for money
  4. 4: to dispose of or manage for profit instead of in accordance with conscience, justice, or duty <sold their votes>
  5. 5a: to develop a belief in the truth, value, or desirability of :  gain acceptance for <trying tosell a program to the Congress>b :  to persuade or influence to a course of action or to the acceptance of something <sellchildren on reading>
  6. 6: to impose on :cheat
  7. 7a: to cause or promote the sale of <using television advertising to sell cereal>b :  to make or attempt to make sales toc :  to influence or induce to make a purchase
  8. 8: to achieve a sale of <sold a million copies>
  9. intransitive verb
  10. 1: to dispose of something by sale <thinks now is a good time to sell>
  11. 2: to achieve a sale; also :  to achieve satisfactory sales <hoped that the new line would sell>
  12. 3: to have a specified pric

Definition of Selling

Selling is a process involving the interaction between a potential buyer and a person hired by a company to sell its products to potential buyers. Sales is a recognized business profession, and ranges from a shoe salesman to an investment banker who manages company stock with billions of dollars at stake.

Definition of Selling

Selling is a process involving the interaction between a potential buyer and a person hired by a company to sell its products to potential buyers. Sales is a recognized business profession, and ranges from a shoe salesman to an investment banker who manages company stock with billions of dollars at stake.

Professional selling involves a series of seven distinct steps. Let’s take a look at each.

  1. Prospecting is finding and qualifying potential customers. Qualifying is the process of determining whether a potential customer has a need or want that the company can fulfill, and whether the potential client can afford the product.
  2. Preparation involves preparing for the initial contact with a potential customer. You will need to collect and study relevant information such as product descriptions, prices, and competitor information. You will also need to develop your initial sales presentation.
  3. Approach is the first face-to-face interaction you will have with the potential customer. In the premium approach, you give your prospect a gift at the beginning of the interaction. It may be a pen, a novelty item or company calendar, for example. Another method is the question approach, in which you ask a question to get the prospect interested. For example, ‘would you have a problem making a 15% annual return on an investment?’ You may also use the product approach, in which you give the prospect a sample to review. The idea behind all of these approaches is to get the prospect involved in the interaction quickly.
  4. Presentation is actively listening to the needs and wants of the potential customer and demonstrating how your product can meet those needs and wants.
  5. Handling objections is an important part of the process. Objections can be useful because they tell the salesperson what to focus upon in addressing a prospect’s concerns. Successful salespeople learn how to overcome objections through preparation and having the right information at hand to address them.
  6. Closing involves identifying closing signals from the prospect that indicate it’s decision time. There are different approaches to closing. In the alternative choice close, you assume the sale and offer the prospect a choice such as, ‘Will this be a cash or credit transaction?’ An extra inducement close involves you offering something extra to get the buyer to agree, such as a discount or a free product. In thestanding room only close, you inform the prospect that time is of the essence because some impending event, such as a price increase, will change the terms of the offer.
  7. Follow-up is building a long-term relationship with your customer for purposes of repeat sales. For example, you make contact with the customer sometime after the sale and make sure the product was received and is in good condition. Again, the idea is not to sell at this stage, but to create a solid relationship for future sales.

A sales process is systematic, repeatable series of steps that map out and track interaction with prospects from their first point of engagement with your business through to a close. 

Easily master your sales process using these 5 steps:

  1. Lead Generation (Outbound for Sales Reps)
  2. Qualify Leads (Budget, Capacity, Timing)
  3. Demonstrate Value (Translate into Prospect Needs, Wants, Desires)
  4. Guide Prospect Understanding (Manage Objections, Frame Thinking)
  5. Deliver and Support (Customer Satisfaction!)
  1. There are seven steps to the sales process. These steps have to be followed in a logical sequence, like dialing a telephone number, or you don’t get through. Ask questions, use effective listening skills, and answer any objections the customer may have and you will soon be on your way to closing the sale.
  2. Selling out of sequence kills the sale. You can do all the right things, but if you do them in the wrong order, just like preparing a recipe, you will not be successful.

8.  1. Prospecting

  1. This is the process of finding qualified prospects who can and will buy and pay for your service within a reasonable period of time.
  2. The key to excellent prospecting is to think through exactly what your product or service does to improve the life or work of your customer, then seek out people in the marketplace who want and need that benefit or result.   When you meet with that prospective customer, instead of talking, you ask a series of questions to determine in advance if this person is a “prospect” or merely a “suspect.”

11.             2. Building Trust

  1. Prospects today are overwhelmed with too much to do, and too little time. As a result of past experiences, they are skeptical, suspicious and often distrustful of salespeople and sales efforts.
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  3. The best way to build trust and rapport with customers is toask questions focused on the customer and then use your effective listening skills throughout the conversation. Many salespeople talk themselves out of sales every single day but it is very hard to listen yourself out of a sale.
  4. If you mention or discuss your product, service or price before you have established a high enough level of likability, trust, and credibility with a prospect, you will kill the sale. The prospect will tune out and will lose all interest in doing business with you. This is why you must be patient at the beginning and ask questions, listening closely to the answers, as a way of building trust.

16.             3. Ask Questions

  1. Based on the interviews with tens of thousands of prospective customers, this is the turning point in the sales process. It is only when you ask questions, carefully organized, to accurately determine that this person has a genuine need for your product or service, that the sale can proceed.
  2. The best part is that, the more questions that you ask in attempts to fully understand the needs of the customer, the more the customer relaxes, believes you, and trusts you. The more the customer believes and trusts you, the more the customer believes that the product or service is the right one for him or her.
  3. 1.  The Keys To Effective Listening Are Simple

    First: Ask questions and focus on helping the customer.

    Second: Use effective listening when speaking with the customer, do not interrupt.

    Third: Pause before you reply to show the customer you are carefully considering his words or answers.

    Fourth: Question for clarification. Ask “How do you mean?” before launching into your reply. Listen intently to the answers.

    Remember, by using effective listening you are building trust. The more you listen to the answers to the questions you have asked, the closer you move toward a possible sale.

    2.  4. The Presentation

    1. Your ability to present your product or service in a logical and orderly way is the “inner game of selling” where the sale is made. It cannot be left to chance.
    2. Once it is clear that the prospect wants, needs and can benefit from your product or service, your job is to show the prospect that your product or service is the logical solution to his or her problem or need.

    5.  5. Answering Objections

    1. There are no sales without objections. Objections indicate interest. You should write down all the reasons that a qualified prospect might give you for not proceeding with your offer, and then develop logical answers for those objections. When the customer brings up the objection, you pause, question for clarification, and then answer the objection in such a way that the customer is completely satisfied.

    7.  6. Closing The Sale

    1. Closing the sale is a logical step in a professional sales process. You first assure that the customer has no lingering questions or objections and then you invite the customer to make a buying decision. This should be simple, straightforward and stress-free.
    2. There are practiced, professional ways of asking for the sale that are ideal for different products and services. One of your jobs is to learn how to close the sale painlessly and professionally and move on to completing the paperwork and delivering the product or service.

    10.             7. Getting Resales And Referrals

    1. The final step in the sales process is taking such good care of the customer that the customer buys from you again and again, and tells his or her friends.
    2. The key to getting referrals is to “be referable.” Respond quickly to customer needs or problems. Ask for referrals after each customer interaction. Follow-up and report back to the customer with what happened when you contacted the referral.
    3. The good news is that every salesperson in the top 10% today started in the bottom 10%. All sales skills are learnable. You can learn any sales skill you need to learn to achieve any sales goal you can set for yourself. There are no limits except the limits you place on yourself.
    4. Your ability to sell more, better, faster, and more efficiently than before is the key not only to your personal success as a salesperson, but to the success of your company, as well.
    5. Thank you for reading this article on building trust and using effective listening to grow your sales. By training your salespeople to ask questions and to become results oriented you can achieve ultimate success.  Please share this article with others and comment below!