Sales Executive student handbook (2)

Sales Executive (BFSI) VILT  Create a good first impression. Everyone deserves to be treated with respect, and the initial phone call is your businesses’ chance to show the customer how pleasant it is to do business with you.  Increase customer trust and loyalty. If your business has face-to-face interactions with prospects who were initially just callers, the trust between you and your potential customer may grow, leading to them purchasing your goods or services more frequently.  Achieve high customer satisfaction ratings. When you meet customers’ needs over the phone, they can accurately assume that you will continue to meet their needs in person, creating a well-rounded and consistent experience. Elements of proper phone etiquette To achieve excellent phone etiquette, you’ll need to apply the following items:  Friendly greetings  Body language  Tone of voice  Tact  Active listening  Appropriate closing Friendly greetings Answering an office phone properly requires a positive and cheerful disposition. Allow the positivity to resonate in your voice, offer a salutation, thank the customer for calling, introduce yourself and your business by name and then extend your help. This gives the customer a sense that you are warm, alert and pleased to help them with their inquiries. People often mimic positivity and will probably respond to your voice with the same enthusiasm you project. Body language Body language plays a major role in communication, both in-person and on the telephone. When you speak on the phone, your body language still communicates how you are feeling. For example, when you smile and sit up straight, your voice is likely lighter and easily translated by the client as cheerfulness. Body language, facial expressions and gestures should remain professional while speaking on the telephone. Tone of voice Adopt a confident tone of voice to limit interruptions and maintain a professional engagement. You want the caller to know you are taking the time to understand their questions, while also delivering prompt service. The tone of your voice is an important factor in proper phone call manners since a caller may form an opinion of your business based on your attitude over the phone. 150

Sales Executive (BFSI) VILT Tact Unfortunately, there will be times when you must deliver potentially upsetting information to a customer over the phone. Remaining calm, while considering your word choice is the key to delivering messages tactfully to your caller. Your aim should be to communicate sensitive information truthfully, without offending your customer. If you don’t have an answer for them, be sure to offer them additional resources. Active listening To achieve excellent phone etiquette, it is necessary to develop active listening skills. Give the customer your undivided attention by minimizing distractions. Taking notes and repeating requests back to the caller lets them know that you care and are listening to only their needs at that moment. Active listening will likely help you respond to a customer’s requests appropriately. Appropriate closing Remember that closing a call can be just as important as the way you begin one. Before saying goodbye to your customer, thank them again and ask if you can assist them with anything else. Closing the call this way assures your caller that your business provides thorough customer service. Develop the habit of allowing the customer to hang up first to minimize accidental hang-ups. Tips to improve the quality of your phone calls Here are 10 action steps for you to consider:  Answer the call within the first two or three rings. Providing a quick answer to customers’ phone calls should let them know that their business is important to you. When customers feel valued, they could be more likely to use your business. If you cannot answer the phone because you have clients in front of you, check the voicemail box and call back as soon as you are able.  Identify yourself and your business at the beginning of all calls. Identifying yourself and your business at the beginning of a call lets the customer know that they called the correct place. When you identify yourself, it is likely that the customer will feel more comfortable sharing the reason for their call and they’ll know who to ask for next time they call.  Let positivity resonate in your voice. Offering a positive tone of voice builds rapport, as the receiver becomes more open to sharing details about how you can best assist them with their needs. If possible, practice by recording your phone calls. Listen to the call recording, notice your tone and make corrections as necessary.  Watch your body language. When you hear the phone ring, it may be beneficial to immediately sit up straight and smile before answering. Your voice will likely sound more friendly and light to the customer if you practice changing your body language.  Minimize interruptions. Minimizing interruptions is possible, even in offices with ample foot traffic. Take a moment before answering a call to put aside items you were working 151

Sales Executive (BFSI) VILT on and prepare to give your full attention to your caller. For instance, try turning your back away from your crowded office when you answer phone calls, this way other individuals in the room will know you are unavailable to assist them while you are on the telephone.  Actively listen and take notes. When listening actively, it can be beneficial to give periodic affirmations that you understand the customer. For instance, you could say “I understand that you would like to return your product” or “Thank you for sharing your concerns.” Keeping a record of the conversation by taking notes can ensure that you remember and respond to all the customer’s concerns effectively.  Be honest. Honesty is more important than trying to make your customer happy. If there’s something you know you can’t do for them, make them aware that you cannot perform the task they are requesting. Deliver the honest message in a polite and sympathetic way and your customer may still have a positive experience with your business after the call is over, even though you could not meet all of their needs. For instance, you could say “I understand your concerns, but unfortunately we cannot approve your request.” If you know of additional resources that the caller can use to meet their needs, provide them before closing the call.  Ask the caller before placing them on hold. You may need to place a caller on hold to get more information for them. For instance, you could say “Would you mind if I placed you on a brief hold to better assist you?” Asking the caller before placing them on hold allows them to know you are working on assisting them to the best of your ability and it displays professional courtesy.  Minimize emotional reactions. Keep your tone of voice positive. Find a break in the conversation and ask the caller politely if you may place them on hold. While they are on hold, take two deep breaths and remember to be objective and empathetic when faced with a challenging caller.  Make sure the callers’ needs are met before closing the call. Making sure you meet the customer’s needs is usually your goal when answering a phone call. The customer may often forget about other questions they have during the conversation. Asking if their needs are met or if they have questions is a great opportunity to be proactive and provide further clarification.  Client Development The Role of a Client Manager 152

Sales Executive (BFSI) VILT Customer experience can make or break a business. According to a recent survey by Salesforce, 76 percent of buyers expect companies to understand their needs. Approximately 67 percent would pay more for a great experience. If you have strong communication skills, consider applying for client management jobs — they might be exactly what you need to grow your career, while also laying the foundation for a successful professional life. What Is Client Management? Nowadays, customers have more options than ever before. They can choose from thousands of brands and order their favorite products online with just a few clicks. If a business fails to meet their expectations, they'll move on and go to its competitors. Considering these facts, it's no wonder why companies across all industries prioritize customer service. Client management, also known as customer relationship management, encompasses the practices that companies follow when interacting with their clients. When done right, it can increase client retention rates, drive customer loyalty and generate sales. Over time, it may lead to higher revenue and greater brand awareness. The role of client management is to improve customer experience and strengthen the relationship between a business and its clients. It involves a diverse range of practices, from social media marketing and customer service to market analysis. Depending on the job, a client manager will engage in day-to-day communications with customers; answer their questions, manage conflicts and collect feedback. He or she may also be required to identify upsell and cross-sell opportunities, assist the marketing team and create sales plans. Why Customer Experience Matters In this digital era, customer experience matters more than ever before. The news spread at lightning speed on social networks. About 62 percent of buyers share their bad experiences with others. If a business doesn't live up the claims, it's only a matter of time before customers move on. Companies that prioritize customer satisfaction experience higher client retention rates. Loyal customers are four times more likely to spread the word about that brand; five times more likely to buy again; and seven times more likely to test a company's latest products. In fact, 73 percent of people factor in customer experience when making purchasing decisions. PwC's Future of Customer Experience Survey revealed that satisfied customers would be happy to pay 33 percent more on flights; 25 percent more on healthcare; and 18 percent more on insurance in exchange for a good experience. For one-third of buyers, it takes only one bad experience to stop engaging with a favorite brand. A well-thought out client management plan can help companies drive brand loyalty and gain a competitive edge. Responsibilities of a Client Manager 153

Sales Executive (BFSI) VILT Do you have what it takes to deliver exceptional customer experiences? Then you might want to apply for a job in this field. Depending on your skills, you may work for B2C or B2B organizations, from small businesses to corporations. In this role, you will serve as a liaison between a business and its clients. A client manager's duties depend on his experience, as well as the specific industry and the company he works for. These may include analyzing the market and identifying customers' needs; establishing trust; setting revenue targets and developing custom solutions, based on the challenges involved. You may also need to manage and lead sales teams, seek new ways to attract customers, and also to identify high-risk clients. Other common requirements include:  Address customers' concerns in a timely manner.  Encourage customer feedback.  Manage challenging situations that may affect customers.  Identify customers’ needs and wants.  Build long-term relationships with key clients.  Collaborate with internal teams.  Assist customers with their purchasing decisions.  Travel locally and nationally to meet potential and existing clients.  Stay on top of the latest industry trends.  Negotiate with vendors to get better deals for customers.  Pass leads to the sales and marketing team.  Carry out customer satisfaction surveys.  Write and submit reports to the client director and senior management. Your day-to-day responsibilities will depend largely on the industry. Google \"client services job description\" or \"client acquisition job description\" and you'll see that these roles have similar requirements. Many companies use these terms interchangeably. For instance, a small business might not be able to afford to hire a client manager, a client acquisition specialist and also a sales agent, so it may assign these tasks to one person. Education and Training Client management has relatively low entry barriers. Most jobs in this field require a Bachelor's degree in business administration, business management, marketing, or in sales or accounting. Some employers prefer candidates who have a Master's degree, but it's not common; other employers don't specify minimum education requirements. What matters is your experience. In general, companies seek candidates who have at least three to five years of experience in a client-facing role. Companies often prefer job applicants who worked as relationship managers or who have a background in sales, customer service or in marketing. The ability to work well as 154

Sales Executive (BFSI) VILT a team, having strong problem-solving skills, excellent negotiation skills and a working knowledge of CRM (customer relationship management) software are all important. If you're a fresh graduate or if you lack experience in this field, complete an internship to expand your knowledge. Consider working as a customer service agent for a few months to gain experience. Additional training in customer relationship management, account management, sales and marketing or business administration can help too. Make sure your resume includes any courses, internships and training programs you completed. Skills and Abilities This profession involves a lot more than communicating with clients over the phone or introducing them to new products. A client manager isn't the same as a customer service agent. Client management requires a specific skill set and a mind for business. To succeed in this field, you need to following skills and abilities:  Hands-on experience with CRM platforms.  Ability to work well with others.  Strong project management skills.  Excellent communication and negotiation skills.  Interpersonal skills.  Ability to build relationships with clients.  Creativity and innovation skills.  An organized approach to work.  Attention to details.  Patience.  Problem-solving aptitude.  A customer-oriented mindset.  Ability to work in a fast-paced environment.  Strong work ethic. If you're an introvert or you simply prefer working alone, this job may not be a good fit. You'll meet clients and work with other departments on a daily basis, so you must feel comfortable interacting with people. Additionally, you must have the ability to make quick decisions and handle delicate situations that may impact how customer satisfaction. The skills needed for this job depend on the industry too. For example, a client manager employed by an insurance group may be required to assess customer risk and create personalized solutions for each client. In this role, he or she will work with insurance brokers and underwriters, assist the sales team and use financial software. A client manager working in the IT sector must learn the industry jargon and have a good grasp of technological concepts. How Much Can You Earn 155

Sales Executive (BFSI) VILT According to PwC's 2015 Global Digital IQ Survey, 25 percent of CEOs put customer experience on top of their priority list. Customer-centric organizations report higher revenues, increased brand awareness and more sales. The demand for skilled client management specialists will only grow over the new few years. How much you'll earn in this role depends on your experience and what you can do for the company. Client managers make around $60,128 per year. Entry-level jobs pay approximately $40,000 a year, while top earners get $94,000 and up. It may not seem like much, but most employers offer performance bonuses, too. If you constantly meet and exceed targets, your efforts will pay off. Some sources mention higher numbers. Glassdoor, for example, states that the average pay in this field is $78,545 per year. Experienced client managers can earn as much as $115,000 annually. Additional compensation, such as bonuses and commissions, can reach $60,220. Multinational companies like Xerox, Nielsen, IBM and Bank of America offer the highest wages. Maximize Your Chances of Success From gathering quality feedback to building customer trust, there are a couple of things you can do to become a successful client manager. First of all, learn as much as you can about your customers and their needs. Remember, communication is a two-way street. Listen to what your clients have to say, so you can deliver the correct message and address their inquiries in a meaningful way. Treat your customers like individuals, not numbers. Provide them with custom solutions and personalized offers to win their business. Use CRM software to get a clear picture of their past interactions with your brand. Small things, such as sending personal Thank You notes and birthday cards to customers once a year, can make a world of difference. Be honest about what the company can and cannot do for its clients. For example, if the marketing team is facing challenges with a particular project or has a hard time meeting the deadline, let the customer know about it. This will help establish trust and credibility. Also, be respectful and polite at all times, even when dealing with unreasonable requests and difficult people. Challenges to Be Aware Of Like most client-facing jobs, this profession has its share of challenges. Client management specialists must handle conflicts and difficult customers as part of their job, which is stressful at the least. The stress they experience at work can affect their personal and professional lives. Additionally, it's not easy to remain calm when the phone rings every two minutes, and your inbox is stuffed with complaints and demands. Let's say you work for a company selling party dresses online; a customer places an order, mentioning that she needs it before her birthday. Her purchase is shipped the same day; about one 156

Sales Executive (BFSI) VILT week later, she leaves a negative review on the company’s Facebook page, saying that she hasn’t received the dress on time. You find out that the shipping company had some problems on the road and took longer than usual to deliver the products. It’s your responsibility to contact the client, apologize and explain what happened. Be prepared to work under pressure, write lengthy reports and smile even on your worst days. Expect to deal with rude customers and reply to mean comments on social networks. Depending on the industry, you may need to spend long hours working with numbers, learning technical terms and analyzing the market. When times get tough, remember how great it feels to see your customers smiling and hear them saying Thank You for a perfect experience.  Sales Meetings Sales Meeting What Is a Sales Meeting? The term sales meeting refers to a gathering or forum scheduled by a company's sales department. Team members may discuss sales policies and procedures, incentives, or one of the company's products or services. Sales meetings are an important part of the sales process because they're designed to help in the development of products and services while building relationships, identifying deficiencies and needs, and outlining product benefits. How Sales Meetings Work A sales meeting is a gathering scheduled by the department's sales managers or other executives. Parties involved in these meetings include members of the sales department, other key company personnel, developers, and/or manufacturers. The meeting may also be attended by new and/or existing clients. Sales meetings are called for a variety of reasons and depend on the type of company. They may be used as a way to:  motivate staff, recognize top performers, and set department goals  discuss new products and services in development, and give product updates  identify challenges and problems in the department  overcome deficiencies in sales figures  develop strategies and improvements for new and existing products  provide new and existing clients with company and product knowledge including benefits of the company's offerings For instance, financial institutions may schedule sales meetings involving personal financial planners to discuss retirement goals, build rapport, and explain how the investment products and fund management will meet the goals of the potential client. Tech companies may schedule sales meetings with their staff in order to provide demonstrations of new products and services so they are better able to sell them to the general public. 157

Sales Executive (BFSI) VILT Sales meetings, which are also called sales conferences, aren't always structured in a formal, presentation format. They may take place in informal settings such as one-on-one conversations or even conference calls. And thanks to the internet, sales meetings can also be held online through video conferencing sites like Zoom, Skype, or WebEx—as long as participants have access to a computer or other device and an internet or wireless connection. Special Considerations Sales managers and other department heads must weigh the benefits of hosting sales meetings because they can be costly. As such, they should be held sparingly and only when necessary. Although they may, in theory, help the department, scheduling these meetings can often cut down productivity—especially if they're held on a regular basis. That's because the more time team members spend in meetings, the less time they have to actually be on the job. Meetings held internally generally don't include clients and are often led by sales managers or executives who oversee the sales division of an organization. The meeting may feature updates on campaigns to pitch products and services to customers, the introduction of new marketing efforts, and other elements that may affect the sales process. For instance, the sales team may need to be brought up to speed on how to leverage software for connecting with and encouraging sales prospects to commit to a purchase. Personnel from other departments might be included in sales meetings to add perspective on the products being sold. No sales staff may also join a sales representative when pitching a product to a potential client. For example, a salesperson may bring along a technical expert to help demonstrate to the customer how a product functions. It is not uncommon for sales meetings within companies to highlight the top performers of the sales team, presenting them as examples to their peers. Sales managers may also use the time to discuss how the sales team approaches clients and the ways they try to persuade them to purchase the service or product. There may be new guidance on the language the sales team should use when discussing a potential sale with a prospect. Instructions on how often to contact sales prospects might also be outlined.  Sales Funnel Process What Is a Sales Funnel? Definition, Processes, and Importance We cover the following topics in this article; the definition of sales funnel, the different stages of sales funnel, and the importance of having one. 158

Sales Executive (BFSI) VILT Did you know that it's imperative to have a sales funnel in your business? If your company does not have a well-engineered sales funnel, it's most likely you are missing out on maximizing your sales revenue! According to the statistics from Pardot:  68% of companies have not identified or attempted to measure their sales funnel.  65% of companies have not defined lead nurturing process or toolset.  79% of marketing leads failed to convert to sales The statistics have shown us that building a sales funnel is still an underrated practice among business owners today. Business owners underestimate the importance of implementing a systematic sales funnel as they might think it's a waste of time or it's irrelevant for their business. However, the sales statistics shared below prove otherwise. National Sales Executive Association Studies have shown that a small percentage of 2% of sales are closed after the first interaction with prospects. But, after 5th to 12th times of interaction with the prospect, a staggering 80% of sales are closed. Hence, the sales reps need to be dedicated to follow-up with their potential buyers to increase the chances of close deals. In this article, we will cover the definition, the stages involved, and the importance of having a sales funnel. 159

Sales Executive (BFSI) VILT What Is a Sales Funnel? The different stages of a sales funnel The sales funnel is a visual representation of the buyer's initial purchasing journey until they purchase the goods and services, in marketing context. Also, the sales funnel is similarly known as the purchase funnel, customer funnel or the conversion funnel. The sales funnel is typically divided into three parts; top of the funnel, middle of the funnel, and bottom of the funnel (TOFU, MOFU, BOFU). As the name suggests, it's known as a sales funnel is due to the decreasing number of potential buyers from the top until the bottom of the funnel. In each stage of the funnel, unqualified prospects will be eliminated until the deal is closed. In short, the sales funnel captures the prospects purchasing journey from the start until the end. What Are the Stages in the Sales Funnel? Building a sales funnel your business is extremely important for your company's success and growth. If you are a sales manager and are not aware of the sales funnel, you will need to do something about it - you can research more on sales funnel, build-up sales processes from ground-up, and educate the sales reps the company's sales processes. 160

Sales Executive (BFSI) VILT Stated below are the six stages of sales funnel that you need to take note of: Awareness The first stage of sales funnel begins with awareness. The sales funnel always starts with awareness. So, what does awareness in the sales funnel means? Awareness is the strategy of business owners to promote their products and services so that it's known to the public. It's one of the essential components if you wish to penetrate the competitive market. It doesn't matter how useful your product can be; you still need to get the word out to promote your goods and services. Thus, you will need to develop a strong marketing strategy to improve on your product's awareness. A few marketing strategies that businesses can initiate to increase their brand awareness, such as using content marketing, paid advertisement, search engine optimization, using landing pages, social media marketing, webinars, direct mails, and etc. Interest At this stage, the prospects are still actively searching for the products and services that can help solve their problems. They show great interest in your goods as they feel that your products can help them solve their daily problems or dilemmas. Therefore, they will continuously view your landing page, compare the pricing plans, subscribed to your marketing emails, and even follow you on social media platforms to show their great enthusiasm towards your goods and services. 161

Sales Executive (BFSI) VILT Evaluation The potential buyers will evaluate few criteria before finalizing their purchase. In the following stage, the interested prospect will propel down the funnel. The third stage of the funnel is also known as the evaluation stage. At the evaluation stage, the prospects will analyze and compare your products and your competitor's products. Your prospects will evaluate which products fit them the most based on a few criteria: a) Pricing: The price of the goods has to be affordable and within their allocated budget. b) Features: The product and services offer features that help them solve their problems. For example, if the prospect is looking for ERP software, they will evaluate the features and functionality of the ERP software to see if it fits their needs. c) Support: Most potential buyers are looking for post-sales services when deciding to buy a product from a company. If the company provides post-sales services, it increases the prospect's buying chances. Providing post-sales services enables your customers to seek help if they face any issues or problems related to the products. Intent The next stage of the sales funnel is intent. Once the products fit all the prospect's criteria mentioned above, the prospects will seek a free consultation, request a trial account, or attend any product demo. The prospects will keep in touch with the sales reps frequently to find out more about the products via phone calls, emails, or even webinars. At this stage, the prospects will pay more attention to what you can offer them, the packages and offers available before finalizing the purchase. Purchase 162

Sales Executive (BFSI) VILT After showing intent to purchase your products and services, here comes the turning point if the prospects will choose to buy from you. The prospects that have decided to buy from you will proceed to sign a contract and continue to make a payment, whereas the prospects that hesitate will remain stuck in this funnel. For example, if your prospects are keen to buy a dress from your online store, they will click on the check-out button in their cart and proceed to make payment to finalize the purchase with you. The prospects will make payment to your bank account. Once you have received the payment in your account, they are officially your customers. Retention Your interaction with customers does not end after the deal is closed. Salesforce Based on the compilation of statistics from different sources: 82% of companies agree that retention is cheaper than acquisition - Forbes 58.7% of internet user’s favor’s earning rewards and loyalty points as the most valuable aspect of shopping experience - eMarketer 65% of a company’s business comes from existing customers - Customer Service Institute Increasing customer retention by just 5% boosts profits as much as 75% - Bain and Co. At the retention stage, you need to put in effort and energy to ensure that customer's satisfaction and happiness are met. This is one of the sure-way to win their heart so that they can purchase from your again. If business owners wish to retain their customers, they will need to develop customer retention strategies that help them achieve their goal. Here are some of standard practices business owners can do to retain their customers:  Offer excellent customer service  Provide loyalty program  Guidance in product usage  Implement feedback surveys 163

Sales Executive (BFSI) VILT Investing in a good and healthy relationship with your customers should not be overlooked. It's cheaper to retain your customers than acquiring new customers in the long-run. Also, a high churning rate implies that you are losing money faster than earning profit. Therefore, you should start nurturing a good relationship with your customers to improve your retention rate to increase your sales revenue exponentially. What Is the Importance of a Sales Funnel? Read more below to discover the importance of having a sales funnel in your business: a) Focusing on the right leads: Sales reps can focus solely on leads that matter. As we are aware, leads come from various touch-points. It can be overwhelming for the sales reps to call all the contacts at the same time. Hence, the sales funnel helps them to devote their time to quality leads instead of bad leads. b) Promote lead nurturing: Closing a deal is not as straightforward as it seems. It's time- consuming, and the sales reps need to invest tones of time and energy on each lead before closing a deal. With a proper funnel, the sales reps can nurture each lead in different stages using follow- up calls or email without missing out on any leads. c) Improve customer retention: One of the company's primary goal is to improve their customer retention rate. A company with high churning rate is terrible for their business. Using sales funnel, business owners can quickly identify and spot their weaknesses and improve on them. In conclusion In this digital age, businesses can create their sales funnel quickly by researching online. Building and streamlining sales funnel enables you to track, manage, and oversee your conversion rate instantly. On top of that, it also enables businesses to improve their shortcomings, especially if their sales are unsatisfactory. Therefore, if you wish to enhance your sales profitability and retention rate, start by investing time and energy on your business sales funnel.  Significance of Managing Service Quality MANAGING SERVICE QUALITY – MARKETING OF SERVICES Quality is fitness for use, the extent to which a service successfully serves the purpose at user. Service Quality refers to the difference between customer expectations and service provider`s actual performance. FACTORS AFFECTING SERVICE QUALITY  Access – Ease and approachability of service  Aesthetics – The extent to which service package components are pleasing to the customer 164

Sales Executive (BFSI) VILT  Attentiveness/helpfulness of staff/service provider  Flexibility i.e. extent and degree of customization  Cleanliness of the premises  Comfort of the customer  Commitment of management to solve customer problem  Competence of the service provider  Reliability of the service provider  Security of information, good, health etc. of the customer DIMENSIONS OF SERVICE QUALITY  Tangibles – Appearance of physical facilities, equipment, personnel etc.  Reliability – Ability to perform the promised service, dependably and accurately  Responsiveness – Willingness to help customers, assuring the customer and providing prompt service  Competence – Skill and expertise with the service is executed/ knowledge of staff  Courtesy – Politeness, respect  Creditability – Consistency in performance and ability of the service to inspire trust and confidence  Communication – Ability of staff to communicate, listen and understand  Security/Safety of service  Understanding the customer PROBLEMS OF SERVICE QUALITY CONTROL  Inseparability of production and consumption  Communication gaps –  Failure to deliver promises  Failure to keep customer informed  Failure to listen on communicate in a way he can understand  Viewing customer as statistics  Short run/ profit motive of the business PROCESS OF SERVICE QUALITY MANAGEMENT 165

Sales Executive (BFSI) VILT Steps in managing service quality:  Identify the primary factors that affects the service quality (customer experience and customer expectations)  Manage Customer Expectations by understanding customer needs and expectations  Re-organize tangible elements i.e. office space, staff, physical equipment etc. for better performance  Educate the customer about the service through effective communication  Develop quality standards and quality driven organization culture according to customer expectations  Automate and maintain quality standards  Take regular Feedback from customers and correct any deviations in performance standards  Master The Selling Process 7 Tips to Master the Sales Process When many of us hear the word sales, we often cringe at the thought of an aggressive sales person hovering over us to make a purchase on an item that we aren’t convinced brings tremendous value. No wonder as business owners, many of us are fearful of the sales process. Here are 7 tips to help you master the sales process 1. Sell by being authentic and real, not because you want to make a buck. People buy from those they trust and if you are offering true value that will help a customer solve a problem or find a solution and you are yourself, you will be able to develop a relationship with that customer. Find your natural voice and your natural skill. – People will be drawn to you simply because you are being authentic. 166

Sales Executive (BFSI) VILT 2. Know the outcome you want and believe you deserve it. Great sales people start with the end in mind. They know the outcome going into any sales opportunity. They can see it in their head and believe that they will achieve it. No matter where you are in the sales process – think of the objective you want from that task and build backwards from there. 3. Personalize the sales experience for each customer. There are four very distinct personality types that need to receive information in different ways. Do not use a “one approach fits all” sales process. Customize it to your customer’s needs. One of the quick tools I use is the DISC profile. Learn how to identify how to interact with your customer and personalize the experience for them. 4. Listen, Listen, Listen and ask open ended questions. If I can leave you with one thought, it would be that the entire sale process is centered on your customer, not you. So you need to create a trusting relationship that allows you to investigate solutions for your customer. To do this, you first have to build rapport, second you need to build trust and third, you need to select a solution that resonates with your customers. So the best sales people know how to listen and ask open ended question (ones that start with How and What) to obtain information that helps them develop the optimal solution. 5. Dollarize that value. Customer buy when they believe the value of what they are receiving is more than the price they are asked to pay. So make it easy for your customer to understand what value they are receiving. Dollarize the benefit. Use real numbers. 6. Ask for the order! A great mentor once told me “if you never ask for the order, the answer is always no”. Be sure not to forget to ask for the business. Don’t wait for your customer to control the process. It is understood why you are there so if you don’t ask for the order, the response will always be no… 7. Network like a Rock star. You will not grow your business from behind your computer. You need to be a networking rockstar and my tip is this. Make it a point to reach out to 5 new people a day and make it a point to connect 5 people to somebody new each day. That is 10 tasks that if you take seriously every day… will transform the landscape of your business exponentially! Mastering the sales process is the number one focus of every successful business owner. It doesn’t matter what type of business or industry you are in; you need to generate sales to grow your business. 167

Sales Executive (BFSI) VILT  Recognizing Benefits of a Loyal Customer What is customer loyalty? Customer loyalty measures the strength of a customer’s preference for a particular product, service, or company. Loyalty is about more than just retention. Even unhappy customers will stick around if they lack satisfying alternatives, whereas loyal customers actively choose to buy again, feel good about their choice, and tell others. Loyal customers are key to building profitable products. Why does customer loyalty matter? Customer loyalty is a strong predictor of a businesses’ long-term viability because loyal customers are durable. Unlike customers that feel neutral or even negatively about a product or service, loyalists actively want to remain customers. They’re more resistant to competitors’ marketing and more likely to purchase again, purchase additional products, and tolerate errors such as outages or irritating support interactions. Businesses with a loyal customer base often enjoy:  More repeat purchases  Higher retention  Higher average order value (AOV)  Higher engagement  Forgiveness for poor service  More vocal customer advocates Of all the benefits of customer loyalty, advocacy is among the most valuable. Loyal customers often share their experiences online and with friends, and their recommendations typically carry more weight than recommendations from brands. “Today’s buyers simply don’t trust your company’s slick marketing messages,” says Chris Newton, VP of Marketing for the advocacy software Inflictive. “Instead, they seek out recommendations before purchasing. Buyers trust the authentic words of their peers. That’s why you need to find a way to systematically improve your customer loyalty so they spread their love of your brand. Marketing messages are more meaningful coming from advocates, and they’re much more likely to influence your prospects.” By increasing loyalty, businesses activate their customers to market their products more credibly for little or no additional cost. To 168

Sales Executive (BFSI) VILT consistently earn customers’ loyalty and get advocates talking, however, it helps for teams to first define ‘loyalty’ and learn to calculate it. HOW MUCH DO CMOS CARE ABOUT LOYALTY? How to measure customer loyalty? To earn their customers’ loyalty, teams must measure it. This can be tricky because loyalty exists in users’ minds and they aren’t always able to articulate their preferences clearly. Surveys and user interviews, for example, offer an incomplete view because consumers often tell multiple organizations that they feel loyal to them. Consumers’ feelings can also change from day-to-day and even hour-to-hour. Their true preferences aren’t clear until they perform an action, such as churning, renewing, or leaving a review. Teams can judge their users’ loyalty along six parameters:  Repeat usage: Does the customer continue using or buying the product?  Expansion: Has the customer purchased other products the company offers?  Action: Is the customer actively seeking alternatives?  Tolerance: Does the customer overlook errors or poor service?  Stated preference: Does the customer claim to be loyal in CSAT and NPS surveys?  Revealed preference: Do the customer’s behaviors suggest they are loyal? Most companies collect loyalty data through qualitative surveys, but these can be error-prone. Surveys reflect a self-selecting contingent of users who are motivated to reply and whose responses frequently skew very positive or very negative. Revealed preferences, also called observed behaviors, are often a more precise measure—they’re evidence of users’ true beliefs, often gathered using customer loyalty analysis. With user analytics, teams can observe their users in the wild, so to speak, and view the actions they each take. Every time customers take an action or trigger an event that’s indicative of loyalty or disloyalty, the system captures the data and helps the team uncover the full story. An enterprise SaaS platform, for instance, could see that while a customer’s CSAT survey came back positive, the users are actively downloading their data—a possible sign of churn—and alert the customer service team to reach out. Every business measures loyalty slightly differently and has their own process for customer loyalty analysis. Whatever the metrics they choose, the Loyalty Research Center advises businesses to develop a score that allows them to sort their customers into three cohorts:  Loyal  Neutral  Vulnerable Teams can examine each cohort and compare the size of each, the amount of revenue each group contributes, and the cost to support each group with services. This provides a baseline for companies to measure their progress toward increased loyalty, as well as estimate the dollar-value 169

Sales Executive (BFSI) VILT of more loyal customers. A financial services app that knows that 20 percent of customers are loyal, 30 percent are neutral, and 50 percent are vulnerable, for instance, can begin testing changes to its marketing emails or in-app notifications, see how they might nudge each group to grow more committed, and measure changes month-over-month. How to increase customer loyalty? Customers feel loyal when they get good value from a service. What that value is varies from company to company. A baseball fan could feel keen about a sports news site because it does the best job of delivering the right statistics, fast. A clothing stylist could feel loyal to an e-commerce site because he feels that it reflects his aesthetic values. And a marketing manager could feel loyal to an enterprise email software because she’s deeply familiar with it. In all cases, the customers feel they’re getting exceptional value, recognize that the product helps them solve a problem, and feel resistant to switching services. To help customers identify with a product and increase the perception of value, teams can: Build a great product Of course, the best offense in the battle for customer loyalty is to have the best product on the market. Value speaks for itself. If an app or site is satisfying and helps consumers solve their problem faster than the competition’s does, it’ll attract them and keep them coming back. Google, for example, beat Yahoo in the search war by relentlessly investing its profits into improving its search algorithm to deliver more and more useful results. Users eventually chose Google because it became synonymous with finding the right answers. Tools like user analytics can help teams observe their individual users and their journeys to identify drop-offs and adjust the product to make it stickier. The messaging app Viber, for example, deployed user analytics and found that users were going through a frustrating number of steps to open a group chat. The product team added a button that allowed users to invite friends into an existing chat faster, and it led to 10 percent more group chat creation. WHAT TO LEARN MORE ABOUT BUILDING LOYAL CUSTOMERS? Exceed expectations Sometimes products are never able to live up to their hype (like Segway’s, 3D TVs, etc.). When marketing and sales teams oversell a service, they give new customers an inflated sense of its potential and their expectations often give way to disappointment and anger. To mediate expectations, teams should focus on removing points of friction from the customer journey and improving the customer handoff. Specifically, leaders can give customer success teams a channel for providing feedback to sales and marketing teams so the company doesn’t oversell itself. Launch a customer loyalty program Teams can increase customer loyalty with a program that rewards loyal behaviors. For transactional purchases, this could be a discount program, such as Amazon’s Prime membership. 170

Sales Executive (BFSI) VILT For a gaming app, it could be bonus in-app purchases for achieving higher levels of weekly use. For a SaaS business, it could be an awards program like Market’s Fearless Marketer campaign where the team rewards their top users with public recognition. It’s difficult to overstate the importance of customer loyalty. Loyal customers are the foundation to successful, profitable products. Their eagerness to purchase from one company makes them resistant to the allure of competitors, tolerant of fluctuations in the quality of the service, and more vocal in their advocacy. If teams focus on building great products and rewarding loyalty, they can nurture an audience of enthusiastic users who happily buy again and again.  Techniques of Positioning Different Customer Services in Market sales prospecting techniques Grabbing your buyer’s attention and opening the door to more fruitful sales conversations is the key to effective sales prospecting. Use these three sales prospecting techniques to build your pipeline and have more productive conversations with your prospects. 1. make your customer the hero There’s a large body of research about the cognitive effects of stories for motivating behavior change. And in a selling context, stories are a powerful way to illustrate the value of your solution to your prospect. Every story needs a hero—someone you relate to as they overcome obstacles on their journey toward happily ever after. But who’s the hero of your story? If it’s your company or your solution, you need to rework your story and make the customer the hero. A typical hero’s journey goes something like this: 1. The hero is a character who struggles with a problem 2. The hero meets a wise mentor who understands their problem 3. This mentor gives the hero new insight, provides a plan, and drives them to action 4. Armed with newfound confidence and a plan, the hero faces their problem 5. The hero overcomes the problem, realizes their potential, and reaches their goal In your story, the customer is the one who needs to save the day, not you. Your role is that of the mentor. You’re there to help your customers see what has changed in their world and how they can adapt to better survive and thrive. 2. don’t over-personalize your campaigns Most marketers and salespeople believe the more personalized your outreach, the better your results. But you may be surprised to discover that highly personalized outreach isn’t as effective as less time-intensive personalization. 171

Sales Executive (BFSI) VILT In a recent B2B personalization study, we tested the effectiveness of four different email personalization methods with 7000 prospects to determine which treatment worked best. We used four different personalization conditions—industry only, company only, industry + personal details, and company + personal details. The results? While open rates were higher when using more personal details, the opposite was true for click-throughs. Personalizing by industry (without personal details) returned a 24 percent higher click-through rate than the company + personal details treatment. People may initially open an email that appears to speak directly to them. But they’ll feel let down when they discover it’s only a clever gimmick to grab their attention. On the other hand, when you share a story about how a similar company struggled and solved a common industry concern, your prospect is better able to project themselves into the story. They may even be eager to find out what happened next. 3. use “you” phrasing, not “we” phrasing It seems well-intentioned and inherently logical: Show your customers you understand their world by positioning yourself as a member of their tribe, hoping to establish a collaborative experience. The word “we” implies the supplier and the buyer are “in it together.” The problem is, when you use this type of we-phrasing, you’re actually hurting your ability to move your prospect to take action. Corporate Visions ran two studies to test the effectiveness of you-phrasing versus we-phrasing. The studies found that you-phrasing is exponentially more effective at moving prospects to take personal responsibility and feel like they must take action. You-phrasing compels your prospect to question their status quo, paints an achievable buying vision, and holds your prospect’s attention in a way that separates your message from the competition. 172

Sales Executive (BFSI) VILT So, the next time you’re talking to a potential buyer, use you-phrasing. It’s a small change. But it makes a big difference. selling techniques that create value Use these four selling techniques to show your prospects why they need to change their situation and persuade them to choose you over your competition. 4. challenge your prospect’s status quo Many salespeople see the sales process as linear. At some point, it has an end—the prospect will choose either you or your competitor. The truth is that those aren’t the only two endpoints. There’s another option—no decision—which is chosen all too often. Studies show that at least 60 percent of deals in the pipeline are lost to “no decision” rather than to competitors. That’s because of something called Status Quo Bias—your prospect’s natural aversion to doing something different than what they’re doing today. It’s only by disrupting their status quo that you can persuade your prospects that their current situation is unsafe and unsustainable. Keep in mind, however, that this conversation is about why your buyer needs to change. It’s not about introducing your solutions’ features and benefits. At this point, focus on creating the urgency to change by establishing that your prospect’s status quo situation is preventing them from reaching their most important business goals. 5. introduce unconsidered needs Too often, salespeople base their messaging on the needs prospects tell you they have. When you do that, you’re then inclined to connect those identified needs to the specific capabilities that respond to those needs—in the standard “solution selling” fashion. 173

Sales Executive (BFSI) VILT The problem is, you end up delivering commodity messages that won’t differentiate you from your competitors—because they’re likely constructing a similar value message in response to the same set of inputs. And because every option sounds the same, your prospects become indecisive. To create the urgency to change and overcome Status Quo Bias, you need to introduce prospects to Unconsidered Needs—unmet, underappreciated, or yet unknown problems or missed opportunities that are holding back their business. In fact, research conducted by Corporate Visions found that a provocative messaging approach that begins by introducing an Unconsidered Need enhances your persuasive impact by 10 percent. Learn more about Unconsidered Needs in this short video: 6. find your value wedge When you present your value proposition to prospects, how much overlap is there between what you can provide and what your competition can provide? Most B2B salespeople admit that overlap is 70 percent or higher. So rather than competing within that “value parity area,” focus on what you can do for the customer that’s different from what the competition can do. This is called your Value Wedge. Your Value Wedge must meet three important criteria: 1. It’s unique to you. This is a message that’s completely different than your competitors. 2. It’s important to the customer. Provide value by highlighting gaps in the way your prospect is doing things today, and how your approach will resolve those issues. 3. It’s defensible. Document proof points of time when other companies overcame similar challenges by adopting your proposed solution. And when you create something that meets those three criteria, you have a value proposition that sets your solution apart from the competition and communicates real value to your prospect. When you connect your prospect’s Unconsidered Needs to your differentiated strengths, you break free from value parity and commodity messaging to create the urgency and differentiation needed to overcome your prospect’s Status Quo Bias. 7. tell compelling visual stories 174

Sales Executive (BFSI) VILT “Death by PowerPoint” is a common way to describe the mind-numbing experience of sitting through a long slide presentation filled with bullet points and clip art. Yet, most sales reps continue to fall back on this tired and unoriginal method of pitching. But research proves that effective sales presentations need to go beyond just a list of bullets. A research study we conducted on using visuals in B2B sales revealed that simple, concrete, hand-drawn visuals on a whiteboard outperformed two types of PowerPoint presentations in the areas of recall, engagement, presentation quality, credibility, and persuasion. Sales presentations should be a compelling visual narrative designed to showcase your products and services and how they deliver unique value. And regardless of whether you use a whiteboard, a flip chart, the back of an envelope, or a tablet, using visual stories is a powerful differentiator in competitive and complex selling environments. what are the best sales techniques for the phone? Most of the selling strategies in this article are still effective when you’re selling over the phone, but you can use these two specific phone sales techniques to boost your persuasive impact and close more deals. 8. tailor your message for virtual sales Many companies are expanding inside sales teams. In fact, the majority of B2B salespeople we surveyed conduct more than half of their sales calls in non-face-to-face environments. But for all the potential cost savings and productivity gains, inside sales can create engagement challenges due to the virtual barrier between seller and buyer. In a face-to-face meeting, you likely have your prospect’s full attention. But over the phone or in a virtual meeting, there are plenty of other competing priorities to distract them. They may take your call, but unless they value what you’re offering, they can easily disengage and continue working in other apps or checking email while you’re presenting your pitch. That’s why you need to tailor your delivery for the specific situation they’re in. They’re short on time, so get right to the point. They want to know what you can offer, so introduce Unconsidered Needs to grab their attention. Tell a compelling, relatable story and use visuals to hold their attention while you illustrate the value of your solution. 9. encourage your prospect to participate One underappreciated yet highly effective technique for phone sales is using interactive visuals. As mentioned earlier, there are clear benefits to using hand-drawn visuals over the typical PowerPoint presentation. And you can apply this concept to phone sales by getting your listener 175

Sales Executive (BFSI) VILT to participate in some way—whether by taking notes or by drawing a simple, concrete visual as directed. Corporate Visions research reveals that using this approach to interactive visual stories is vital to engaging your audience, increasing favorable attitudes toward your story, improving recall, and making prospects more likely to meet with you. Be warned. Incorporating these storytelling techniques into your virtual sales calls is going to demand some behavior changes from salespeople. Many of the sales reps we worked with thought that using interactive visuals on sales calls created “too much friction” that would negatively impact the call. But after putting this technique into practice, they saw an immediate positive impact relative to their previous verbal-only approach. how can i improve my selling techniques for closing sales? Convincing your customers to change their status quo and choose you isn’t enough to close the sale. Use these four sales closing techniques to create urgency, drive consensus among stakeholders, and convince your buyers to take action now. 10. tell stories with contrast Messaging is about telling your company’s story in a way that attracts prospects to your door and turns them into customers. The challenge is that, if you’re like most companies, you tell your story in a way that doesn’t differentiate you much, if at all. But to create a powerful perception of value, you need to tell both the “before” story and the “after” story—you need to tell customer stories with contrast. When you tell customer stories, don’t be afraid to link data with emotion. Often the best way to do that is to talk about the people who were affected by the challenging environment they were working in. Then talk about how their lives became better, easier, more fun, or less stressful after using your solution. 11. highlight the risk There’s a longstanding myth that executives are strictly rational in their decision-making, influenced only by the hard ROI story you can tell. But that’s simply not the case. Corporate Visions research found that executive decision-makers are just as swayed by emotionally charged factors as anybody else. In fact, executives are more than 70 percent more willing to make a risky business decision, such as leaving their current situation to try a risky alternative, if you frame their status quo in terms of what they stand to lose by not making a business change, versus what they stand to gain by following through with one. 176

Sales Executive (BFSI) VILT The study demonstrated the impact of Loss Aversion, a concept important to Prospect Theory. Pioneered by social psychologists Amos Tversky and Daniel Kahneman, Prospect Theory states that humans are 2-3 times more likely to make a decision or take a risk to avoid a loss than to do the same to achieve a gain. 12. protect your value Buyers today have all the power in sales negotiations. They know it, and so do salespeople. According to our research, 72 percent of B2B salespeople report that buyers have grown more powerful over the last several years. They have the confidence to demand discounts—and walk away when they don’t get them. The problem is, many salespeople unknowingly make concessions throughout the sales process— value leaks that make it more difficult to close the deal, which, in turn, makes it more difficult to protect your margins during late-stage negotiations. Value leaks happen as the buyer tries to gain consensus among other stakeholders in the organization. They flex their power and start making additional demands for your time, your resources, and of course, for discounts. And you may not even be aware that it’s happening. How do you protect your value? When managing multi-party decisions, consider who in the organization knows about the decision, who cares about the decision, and start targeting those stakeholders in your conversations. When you address the business impact for each key decision- maker involved in the purchase, you can drive consensus faster. 13. leverage pivotal agreements As deals get increasingly complex, late-stage negotiating tactics become increasingly irrelevant. And your ability to create a profitable outcome depends on how deftly you navigate critical moments of the sales process—moments that have the potential to change the nature of your opportunity and recast the buyer’s perception of your influence. To help you do all this from a low-power position, consider the concept of Pivotal Agreements. The five types of Pivotal Agreements are value-based exchanges that you can use to advance your deals while protecting your value. 177

Sales Executive (BFSI) VILT The idea is to proactively decide what you need from the customer during the buying cycle to get the most positive final outcome. In other words, you capture the value and protect your margins by executing a series of Pivotal Agreements throughout the buying process, rather than one grand compromise at the end. how to sell to existing customers: sales techniques to expand value The sale isn’t over just because your prospect becomes a customer. There’s still ample opportunity to drive growth from customer expansion opportunities like renewals and upsells. Here are three research-backed sales techniques for selling to your existing customers. 14. defend your customer’s status quo When you’re engaging new prospects, it makes sense to use a provocative, challenging approach that introduces Unconsidered Needs, disrupts their status quo, and persuades them to choose you. As an outsider, you want to frame their current situation as risky and unsafe and introduce your solution as a better, safer alternative. But when you’re the insider, defending your incumbent position to existing customers, you often need to reinforce your value and highlight the reasons why you’re still the safest choice. Because you are your customer’s status quo, you can use their natural Status Quo Bias to your advantage during renewal and expansion conversations. 178

Sales Executive (BFSI) VILT To your existing customers, you are their status quo. And research shows that using a provocative, challenging message when you’re trying to renew or expand business with your customers will increase the likelihood that they’ll shop around by at least 10-16 percent. 15. upsell by reinforcing the relationship Certain sales conversations with your customers require more finesse than others. Expansion conversations, for example, walk a thin line between persuading your customer to buy more and convincing them to stay with your solution in the process. If you succeed, you lay the groundwork for a long-lasting partnership. But if you stumble, your partnership stagnates, your revenue plateaus, and your customer becomes vulnerable to getting picked off by competitors. When it comes to winning upsell conversations, our research found that reinforcing the emotional aspects of the customer partnership was most effective in persuading customers to make change seem safe as long as they’re changing with you, not away from you. In these situations, don’t be afraid to use emotional language to lean into the relationship between you and your customer’s company. Then, leverage that relationship to have a frank conversation about challenges and opportunities befitting a long-term partnership. Buyers are naturally more inclined to remain with their status quo than change to a new solution. But that doesn’t mean you should take your relationship for granted. Your customers are constantly being pitched by outside vendors who are eager to win their business. Don’t give them the opportunity. 16. know how to apologize In a perfect world, you would never need to apologize to your customers. But service failures are inevitable. And mishandling these pivotal moments can put your customer relationships, retention, and future revenue at risk. But it doesn’t have to be that way. Apologizing to your customers the right way can not only recover the relationship but actually improve their loyalty going forward. Using a concept called the Service Recovery Paradox as a 179

Sales Executive (BFSI) VILT foundation, our research found that a specific apology message framework improved the chances of your customer recommending your product and buying more from you after a service failure. sales techniques that don’t work There’s a lot of “conventional wisdom” for how to sell out there that, in reality, doesn’t actually help you make the sale. Here are four classic go-to selling techniques that may, in fact, be hurting your sales. don’t focus on selling benefits Everyone knows how to sell benefits and not features, right? Well, no. If you start your customer conversation with benefits, you’re jumping the gun when it comes to how most prospects are looking at their first interactions with you and your company. Remember that up to 60 percent of pipeline deals are lost to the status quo. That means that you need to learn how to sell by establishing a buying vision—the case for why the prospect needs to change—before your solution’s benefits will resonate. That means you need to effectively challenge the status quo and show how the prospect’s world can change for the better. don’t compete in a bake-off When you position yourself against your competitors, you’re competing in a vendor bake-off. It’s a “spec war” and you might gain the upper hand with one feature, but then the competition meets your feature and raises another. In the process, you and your competition are often having a very similar dialogue with the prospect, leading to the dreaded “no decision.” Instead of talking to the prospect about “why us,” focus instead on challenging the status quo by getting the prospect to think about “why change” and “why now,” and demonstrate the truly unique value of your solution. don’t sell to personas Many salespeople and marketers use personas to develop messaging. And, on the face of it, it seems to make sense: defining the profile of your prospect will enable you to develop messages targeted to that profile. The problem is that personas are typically defined by who the prospect is – demographics and behaviors. But the need to change is not driven by a persona. The fact that a prospect shares similar characteristics with the persona isn’t what causes them to re-think their current approach and consider your solution as a new way to solve their problems. 180

Sales Executive (BFSI) VILT Instead of developing messages based on personas, focus on how to sell by convincing prospects that the status quo they are standing on is “unsafe,” then show them how life is better with your solution. don’t rely on a standard elevator pitch An elevator pitch is a short summary used to quickly and simply define a product, service, or organization and its value proposition. And just about every sales organization under the sun spends a lot of time trying to perfect that pitch. The problem is that the standard elevator pitch tells your story—not your prospect’s story. So instead of spending time refining your elevator pitch, focus on building the story that features your customer as the hero and illustrates the unique value you can offer them. closing thoughts There you have it. These 20 selling tips and techniques are proven to help you in all areas of your sales strategy, including prospecting, communicating value, creating urgency, closing the sale, and expanding with existing customers. With these approaches in your arsenal, you’ll be well equipped to handle even the toughest sales conversations.  Communicating with Unsatisfied Customer How to communicate with the unsatisfied customer The art of communication with unsatisfied customers is an important science both for executives and for the entire team of the company. If you are dealing with consumers of various goods or services, you will inevitably come across with it. In this instance, the main task is to prevent the loss of confidence in your company. Ability to build a competent dialogue with difficult customers shows the maturity of your business. 181

Sales Executive (BFSI) VILT How to communicate with difficult customers and resolve the complications without negative consequences for the company's credibility? Further, we will try to consider a few illustrative examples to help you to build a proper dialogue with the unhappy customer. If your company is engaged in the service sector, the quality of service is the most important factor for you for a successful business. The appropriate level of service is the key to creating a positive image of the company in the eyes of your customers. Moreover, impeccable service significantly increases the loyalty of your customer base, and as a result, promotes the increase of profits. HOW TO MAINTAIN LOYALTY OF PROBLEMATIC CUSTOMER? Unfortunately, even in the friendliest and most customer-oriented companies, you will meet unsatisfied consumers and customers. If you intend to keep and upsurge the loyalty of your customers, pay close attention to the requests from customers. Claims and objections, complaints and suggestions - all these deserve the special control. Use unhappy customers as an indicator that shows problem areas in your service system. One point is certain - whatever problems do occur with clients, such problems must be solved as soon as possible. Your customers should feel and see your concern and honest desire to help in solving faced difficulties. Current practice shows that there is a better chance to persuade a client, who always opposes and expresses claims than an indifferent customer who agrees on everything. Also, for the management, it is very important to have a timely and effective feedback from customers. Awareness helps to identify problem areas timely, prevent and correct any deficiencies in the customer service system. If your employees show care and attention to a customer, he remains pleased, and this increases the chances of re-orders. That is why you can’t simply dismiss the claims and complaints from the customer. Think of such applications as the main source of marketing information. Client’s appeals can be used as a tester, indicating the current wants of potential customers. Accordingly, effective work in this direction is the basis of improving the service system. WHY A CUSTOMER IS UNHAPPY AND HAS SOME CLAIMS. For a clear understanding of the motivation of an unsatisfied customer, you need to start with the basics. What is a complaint or a claim of a customer? In fact, it is the client's appeal due to his dissatisfaction with his buying expectations. However, the seller must consider client’s request differently. For the seller, the customer complaint is another opportunity to reestablish customer’s loyalty by eliminating the problems or product faults. 182

Sales Executive (BFSI) VILT Claims and customer dissatisfaction are the great chance to meet all the requirements of the customer and transfer him/her into the category of regular customers. No doubt, complaints, negative reviews and buyer dissatisfaction are unpleasant to each person, but for a professional seller, it is a real gift. If the customer is ready to spend his own time on his complain and the explanations of claims, it suggests that he has not lost his loyalty to your company. Otherwise, it would be easier to find another company. Willingness to discuss the company's activities and propose options for its improvement, indicate a certain degree of loyalty of your customer. WHAT DO CUSTOMERS EXPECT, WHEN EXPRESSING COMPLAIN? Further, we will consider the most common behaviors of dissatisfied customers, their motivation and reasons for making a claim. Customers regularly make complaints and claims in the following situations 1. The desire to talk or quarrel - this category of consumers considers complaining process as an opportunity to communicate. They specially visit you or call your company to express their views and quarrel. Typically, these people have relatively low income and a lot of free time. For this client, another scandal in the shop is like to be a participant of a soap opera. And for the individual members of this category, it is the only way to compensate spending cash. Often, these clients do not require financial compensation; it is enough to let off steam and get communication. Be ready that among this category may be true seekers of truth, ready to write to the appropriate authorities and the media. HOW EMPLOYEES SHALL RESPOND IN SUCH SITUATIONS: Most importantly, it is to seize the initiative in your hands in time, and not to be led by a disgruntled customer. You must firmly but politely steer the conversation in your direction. If an employee who interacts with a problem customer is not experienced enough in communication, it is necessary to attract more skilled employees. 2. A sense of justice and a desire to punish the guilty ones - this category of problem customers also have the purpose of financial compensation. For this group of people is more important to get to the company's management and personally express existing claims and complaints. This buyer is always ready to spend personal time and always wants to get an appointment with the superior. They will come, write plaintive appeals and calls to the head office, etc. HOW EMPLOYEES SHOULD RESPOND IN SIMILAR SITUATIONS: In this case, the main objective is to listen to unhappy customers. If during the conversation you feel it is a necessary and appropriate action, take responsibility for the situation. 183

Sales Executive (BFSI) VILT Even if the consumer is not right in their claims, do not argue with him and quarrel, it will only aggravate the situation. If the complaint is justified and deserves special attention, you should notify about it your direct management. Talking to a problem customer, be specific, and do not deceive the client with invented excuses. It is better to talk openly, than hiding and squirm in a conversation. Paying attention to the complaints and claims of customers, you can learn how to better adapt provided services or goods to the client's needs, how to effectively organize internal business processes and bring the level of service to a new level. In any case, dissatisfied customers are still better than their absence. PORTRAIT OF DISSATISFIED CUSTOMER The modern entrepreneur needs to understand that it is impossible to satisfy all customers' requests and to please every customer. Unfounded criticism, insults, complaints, various psychological manipulation and deception, all of these can reflect a negative interaction with the customer and the sales persons wish to close the deal at any cost. An unsatisfied customer is a person who wants to talk about the problem and therefore counts on your help in solving it. If you manage to solve the hitches, you give the customer base to contact your company again. If the client is unsatisfied, he has two solutions - either another attempt or finds another company. If the choice is for finding another company, you will not even be able to establish the cause of client discontent and his going to a different company. Every seller dreams to get a single algorithm of interaction with problem customers, which would work in various situations. Also, each specific situation requires an individual approach. However, there are certain basic behaviors of unsatisfied customers, in particular:  Polite and calm manner - a customer calmly explains the essence of the claim and requests to resolve these difficulties;  Dissatisfaction and disturbed behavior – a customer, is emotional when speaking, but complies within the limits of decency;  Extremely aggressive customer behavior - the degree of expressed aggression can range from a high tone in the conversation to open aggression and threats against employees of the company. Polite and calm manner This pattern of behavior is simple in content and is rather rare. Your action is to listen carefully to customer complaints, apologize for the situation and help to eliminate the difficulties. 184

Sales Executive (BFSI) VILT Dissatisfied and disturbed behavior Work with this category of problem customers is more difficult. Being immersed in an emotional state, you risk losing the rational part of your conversation. Always give unsatisfied customers a chance to speak. If the problem situation emerged in the main business premises or front of other customers, you need to isolate the problematic customer. Just get him to the office, so you will get rid of extra eyes and be able to provide the client with the atmosphere of a serious private conversation. Extremely aggressive customer behavior This group of individuals is the customers who are not able to perceive the information adequately. Of course, some of your reasonable arguments can be heard, but they are unlikely to reach the unsatisfied customer’s consciousness. The client can be quite aggressive and use epithets, unrelated to the real state of affairs, but directly indicating the emotional state of the customer. Your task is to respond to such criticism, and not fall into a blankness due to the client's pressure. There are situations when expressed claims are of a general nature. It is necessary to specify an existing claim and gently bring the approach to resolve it. Examples: Claim – This is a disgrace, what a company you have. Answer - Saying that, what exactly do you mean? Claim - The advertisement stated that the product is available, but it is not. Answer - When and exactly what advertising have you seen? Specifying and directing the customer to the very essence of the complaint, the seller helps the customer to formulate precisely the existing claims and to identify the main cause of his discontent and irritation. A competent seller should not respond to the claims that are general in nature. Do not be angry with the client, or tell him to leave your store, it is better to use the customer's objection, as an opportunity to bring it to the closing of the transaction. Often unsatisfied customer breaks a torrent of criticism against the sellers. Quite often, such criticism is unfair and unreasonable. In this communication, a disgruntled customer can use the claims that do not reflect the real situation. It can be such statements: \"You have a poor customer service\", \"your sellers do not know what to sell,\" \"\" Your price is unreasonably inflated \", etc. To work effectively with such complaints, it is recommended to apply the following methods of interaction:  Specification of the issue;  Search for alternatives. Examples: 185

Sales Executive (BFSI) VILT \"You do not like the procedure of registration documentation, or as I talk to you?\", \"Did you have to wait long for the reception?\", etc. Specification of the issue and finding an alternative allows revealing the exact cause of customer’s irritability and ways to eliminate it as soon as possible. WORKING WITH CONSUMER’S CRITICISM It is much more efficient to use one simple method working with highly angry customers. In particular, it is a way to draw criticism from an unsatisfied customer. This approach in dealing with problem customers, allows you to release your client from negative emotions and experiences. Pulling complaints and criticism from the client, you give him a clear understanding of what have caused the dissatisfaction. Examples of drawing criticism from the client: \"I had a very long wait\", \" A long wait is annoying you, what else don’t you like?\", \"The staff is not paying attention to me, I was not even offered a cup of coffee\", \"You have waited a long time, you have not been offered coffee, what else you are not satisfied with? \". When pulling criticism from the client, follow the intonation of your speech. The customer will pay attention to your tone and emotional conversation coloring. Every entrepreneur engaged in service and sales sooner or later is confronted with the criticism. Unfortunately, in most cases, the customer comments and complaints are justified. If the client's criticism reflects the real state of affairs, such criticism is deemed fair. Such claims are always specific and based on objective factors. For example: \"Your employee came to the meeting with a delay of 30 minutes\", \"Your proposed product turned out to be defective,\" etc. If you are faced with a fair criticism on the part of the customer, the right thing is to listen to his arguments and agree. Your consent must be expressed in a confident tone; this is the only way you can convince the client that you are fully responsible for what has happened. Unsatisfied customer will see your consent and will be convinced of the justice of his claim. A step towards to the client will allow you to find an alternative way out of the problem situation and will retain the trust of your customer. Current practice shows that most complaints from customers are quite reasoned and justified. Working with problem customers, a lot of reasons for their discontent can be identified. So discontent could be the result of improper communication with a client before. 186

Sales Executive (BFSI) VILT Someone is upset with a long wait; someone is concerned about the quality of the proposed product or manner of communication of sellers, etc. The reasons for dissatisfaction can be very different. However, if to take general features into consideration, it is possible to divide causes of client dissatisfaction into certain groups, these are:  The customer is sure that he was treated unfairly - this is one of the main reasons of customers’ irritation. Waiting for specialist advice or contact with the operator may cause irritation;  An employee who has worked with the client before, has not finished the job - a violation of obligations is quite legitimate reason for claims by the customer;  Negative experiences with members of your or another company - as a result of poor maintenance, the client has formed a stereotype and a negative view on all subsequent interactions with the company's personnel;  Customers with a problematic character - it can be both overly sensitive nature, and simply hot-tempered people, eager for scandals. No matter what category the problematic client refers to, for the head customer’s claim it is an opportunity to receive an assessment of service system from first hands. The claims and complaints of customer indicate errors and shortcomings in the various business processes. Be grateful to customers who have spent their own time to tell you the problem areas in customer service. HOW TO INTERACT WITH UNSATISFIED CUSTOMERS All the work with dissatisfied customers has one goal - to bring a client to an adequate dialogue and to pinpoint the essence of his claim. 1. It is not recommended to express anger and to answer to rudeness with rudeness during the dialogue. Remember, you are a qualified specialist, who must solve the problem with the smallest harm to the company. Consider a dialogue with the dissatisfied customer as a potentially larger problem if handled wrong, and respond accordingly. Be sure to let the customer speak out and ask him: \"What is the essence of the claim, and how can I help you?\" If you want to cope with frustration and irritation of the client, give them the opportunity to express all their claims. Having listened carefully to unhappy customers and clarified the essence of the existing claims, you will help the client to relax. Besides, constructive dialogue helps to reveal the reasons for customer dissatisfaction and find the best option to solve it. Speak with a safe tone, without raising voice, and with a serious face. 2. Do not sparkle with your brilliant mind while communicating with an unhappy customer. Moreover, under no circumstances, do not make it personal. Even if the client hysterically shouts and insults you, do not be like him. Such a balanced state will give you more credibility. 187

Sales Executive (BFSI) VILT 3. Express sympathy to the client and understand his position. Such an approach does not mean you have to unquestioningly accept and acknowledge your guilt. Even if the client is in an emotionally overwrought state, consider what would be your reaction in such a situation. You shouldn’t respond negativity; it is better to try to understand the position of the unsatisfied customer. Show the customer that you sympathize with him; it will reduce the intensity and smooth customer dissatisfaction. If the second party of the dispute sympathizes, nods his head and is willing to help solve the problem, the conflict will be settled. 4. The following phrases can help you to work effectively with dissatisfied customers:  Yes, it is a very unpleasant situation, and I understand you;  If I were in your place, I would also express complaints;  I understand that you are in a bad situation;  I'm sorry that you are having difficulties due to us;  I can imagine how unpleasant it was. Saying these phrases, your tone of voice, body posture and facial expression must prove your sincerity and sympathy. There shouldn’t be hypocrisy in this dialogue. Avoid negative statements in the dialogue, and do not point out a wrongness of an opponent. Do not use the following phrases:  In this situation, you are wrong;  It cannot be;  You should have behaved a little differently;  What can I do now, this happens often;  I'm sorry, but I cannot help you;  In our company, it is normal;  Our company never does that;  You should have ... 5. Do not take the claims and attacks unsatisfied customers personally. You must understand that in the eyes of the unsatisfied customer, you represent the entire company, which caused him discomfort and angered him. Customers make their conclusions about the service for each employee, with whom they had to interact. If sales team members are not careful, and the cashier is rude, the impression of the service will not be the best. The most important thing for you is an objective recognition of the error and its timely removal. After all, the purpose of your business is the maximum satisfaction of consumer expectations. 6. No doubt regardless of the mood client has, it is important to solve problems promptly and, if it is possible, to compensate the damage. Show your customer what accidental misunderstanding have happened, and make a small gift. Examples: 188

Sales Executive (BFSI) VILT  If you have broken the terms of delivery of goods - send a box of chocolates and a card with an apology with the belated product;  The customer is dissatisfied with the insolent treatment of sellers - give the client a discount and make negligent employees apologize;  The person has spent personal time for a long wait - do not allow happen it at his next visit. The more serious the problem situation and the claims, the more significant should be an offered compensation. If during the settlement of the question you were able to do it without the scandals and recriminations, you have all the chances to translate the problem customer into the permanent category. 7. There are situations where a claim of the unsatisfied customer has nothing to do with you. If it isn’t your fault, first of all, take the time and try to calm down. Do not deny your personal fault and blame it on other workers. If a person is highly annoyed and wants damage compensation, he just will not hear you. It is better to gently steer the conversation in that direction, which contributes to the solution of the difficulties. It is necessary to talk with the client to identify the perpetrators and specific ways to solve problems. In cases where your competence is not enough to solve the problem, it is better to involve a qualified specialist who can give a customer satisfying answers. The main thing is to make it clear to the client that you are willing to help in resolving the situation. HOW TO CONDUCT A TELEPHONE CONVERSATION? Interacting with unsatisfied and unbalanced customers, it is difficult enough to keep restraint and calmness. This is especially true for telephone conversations with problem customers. The client, calling you may become aggressive as a result of a long wait, or in the absence of a positive solution of his problems. For the employee, interacting with customers on the phone, it is very important to be able to establish a positive dialogue and effectively solve emerging difficulties. Experts define some manners of behavior that cannot be used in a telephone conversation with the client. In particular, hearing on the other end customer’s dissatisfaction, you should not:  Hang up, or transfer the client to another number;  Excuse and justify with the phrase: \"I'm not guilty\";  Recommend the customer to come in person or send your written complaint;  To be rude to the customer and compare him/her with other customers. Regardless of the situation, remain courteous and polite. During the dialogue, you can use the following phrases:  If you do not mind;  Thank you for spending your personal time; 189

Sales Executive (BFSI) VILT  Can I ask you some clarifying questions;  Our company appreciates your feedback, etc. How to conduct a dialogue with aggressive clients? Customers belonging to this category are easy to recognize. As a rule, they quickly show exactingness and express claims. This client immediately transfers to the heart of the matter and does not tolerate lyrical digressions. When talking on the phone, keep confident and solid tone, it will allow you to control the conversation. Express your thoughts clearly, and do not go away from the main topic of conversation. Do not show excessive pressure or insistence; it may lead to dispute. In a telephone conversation with an aggressive-minded customer, you must follow certain rules:  To fully understand the customer's problematic, listen to him;  To establish contact, express sympathy;  Be ready to offer an alternative solution to the encountered difficulties. In cases when customer's complaints are justified, the best way to establish contact is to express understanding of his position. If the customer expresses claims and complains, do not allow yourself hostile remarks, but rather sympathize him. If it happens that the customer is overflowing with negative emotions, try to understand him. Do not succumb to such emotional mood, keep calm and tranquility. Listen to the customer, establish direct contacts and continue to search for solutions. Analysis of dissatisfied customer’s interaction with the seller Complaints, claims and the negative attitude of the company begin with prosaic consumer dissatisfaction. If in the beginning, it's just a claim, then the output may already be frank hostility. If you do not take action and do not work to improve the service system, customers will be more disappointed. That, in turn, will necessarily be reflected in the volumes of company sales. The modern market dictates new standards and rules of interaction with customers. Today, it’s much more profitable to create a dedicated system and timely response to customer complaints than to aggravate the situation with indifference. Effective work with problem customers is not only a way to preserve and expand customer base, but it is also a great opportunity to draw attention to the weaknesses in the various business processes. All that dissatisfied customers want is to be heard. Customer service and timely and proper reaction to customers complain is the solid base for your business thus you need to always screen and control all areas of customer care service in your company. 190

Sales Executive (BFSI) VILT  Solving Customer's Problem Customer Service Problem Solving: Process & Example Customer Service Problem Solving Customer service exists to help customers with their needs and/or any problems that come up in doing business. It's the most important part of maintaining a good reputation as a business. Think about all of the different outlets people can post negative reviews. The last thing you want as a business is to have negative reviews all over the internet or through word of mouth in your city. Training your associates on proper ways to resolve customer complaints or problems needs to be a top priority if you are in the customer service industry. Let's use the scenario here to discuss the process to resolving a problem in customer service: Bill just placed a large order from an online grocery/household items store. He noticed that he accidentally put a wrong quantity in for one of the items, so Bill called the company's customer service department to see if they could change the order before it ships. Bill speaks to a representative that says she fixed it, and he will not be shipped the additional items he added by mistake. Everything seems great and Bill is pleased. Unfortunately, a week later when Bill receives his shipment, he notices those items that were supposed to be cancelled have been included in this shipment, and he was charged for them as well. He calls the company again and speaks to a different representative that tells him once the order is placed, there is nothing that can be done. Bill is very confused because the first person he spoke to said it wouldn't be a problem and that she resolved the issue. Bill gets very frustrated and hangs up the phone. After Bill has cooled down, he decides to give it one more try. He calls the customer service department and gets a different representative who is able to get him a prepaid label to send the extra items back at no cost to Bill and refund his money. Bill is relieved but thinking to himself 'why was each representative so different?' Let's discuss the problem solving process that the second representative should have gone through in order to resolve the issue and keep the customer happy. Problem-Solving Process Steps If you are a customer service representative, you want to use four steps to problem solving when you come across a customer issue or complaint. These steps include: 1. Define the problem 2. Generate potential solutions 3. Select a solution 4. Implement and follow up on the solution 191

Sales Executive (BFSI) VILT Define the Problem Our first step is to identify the problem that your customer is experiencing. You may come across a customer that is having a difficult time explaining what is wrong. During the second phone call, Bill has told the representative that he was told he would not be receiving these items and that they were supposed to be cancelled. The problem is clearly identified. If you are unable to identify the problem, you can ask questions like: 'When did you begin experiencing the problem?' 'Has this happened before?' Once you retrieve more information, you should be able to define the problem and further assist the customer.  Tools and Techniques for Better Phone Sales 10 Phone Selling Techniques That Work. Grow Your Sales Right Now! Customers prefer speaking to a live person as opposed to an automated program, and the instantaneous nature of phone calls also save customers from waiting for hours for an email. As phone calls are essential to businesses and sales, phone call etiquette is just as important to companies and their sales representatives. Losing a client on the telephone is easy, but how can businesses effectively gain clients through telephone sales? The answer is more straightforward than most people think. How to sell over the phone? Follow these 10 tips presenting proven and well-performing telephone selling techniques over the phone. 10 Phone Selling Tips Traditional sales techniques over the phone are not as effective these days. In general, sales techniques are a backbone of methods used by a company's sales team. All techniques use a little bit of psychology to discover how to sell on phone effectively and what motivates potential customers to buy a certain product. Legacy techniques on how to sell a product to a customer over the phone are not as efficient and powerful as they used to be. Consumer behavior is now influenced by many factors long before the purchase or even before an initial conversation with a salesperson. Let's say you are wondering how to sell a phone to a customer - examples are available right away. You just have to Google a phrase \"How to sell a cell phone to a customer\" and you get about 2,390,000,000 results in 0.59 seconds (yeah, I've just checked it). And exactly the same possibility is available for your potential customer - they can do research before your call and get prepared. With information increasingly available on the Internet, one click is all it takes for anyone to know everything they need to know about a product or service at the very moment a salesperson is simply 192

Sales Executive (BFSI) VILT reading from their script (aka robot-salesman). Or a potential buyer can, as mentioned above, read about your company or its offering even before they hop on a call with you. In this way, so-called cold calls are becoming less efficient, as people are not interested in wasting time on the phone with someone they have never heard of. Instead you should look for ways to encourage your website visitors, i.e., potential clients, to reach out to you. Here are some techniques to make your processes smarter and boost sales by phone. Keep reading to get to know a few new tips to make your processes of selling over the phone smarter and boost your sales. 1. Plan The Script … What is the objective of a particular call? Is it to introduce the company? To talk about the product? Are you finalizing a sale? In each case, centralize your script around the objective. Focusing on the task will allow sales representatives sound professional and knowledgeable. Understanding the topic also minimizes discussion outside the subject, allowing for an efficient and effective phone call. That's one of the major telephone selling techniques. 2. But Don’t Recite It There are many reasons not to read off of a script. First and foremost, rehearsed lines tend to come off as being stiff and unnatural. As mentioned above, one of the reasons customers choose to call is to speak to a live person. By following a rehearsed script, the sales representative effectively negates this effect and may lose the customer’s interest. Second, due to the unpredictable nature of the customer’s questions, it is impossible for the conversation to follow the exact order of the script. It is better to have a few points of reference written down as opposed to lines of speech. Refer to the script to stay on track, but don’t rely on it. How to sell a product over the phone - example is simple: be yourself, act as a human being, not a robot. 3. Know Your Audience Who exactly is on the other end of the phone? Before the call, read the customer and their company’s name out loud. 193

Sales Executive (BFSI) VILT Practice until it sticks in your head. Write down pronunciation guides. Do some external research if necessary? Whatever you do, do not twist their names. It is insulting to the customer and humiliating to the sales representative. First impressions are important, so the last thing that businesses should want is an awkward scenario ten seconds into the phone call. To ensure that the whole process goes by smoothly, have the customer’s name and business somewhere in sight, in case your mind draws a blank in the middle of the conversation. 4. Respect The Gatekeeper Sometimes, the person who picks up the phone or even initiates a sales call is not the intended target, but a secretary or receptionist. Treat the gatekeeper with the same level of respect as the customer. They are no less important than the decision maker. They might be more critical in their role of filtering out unwanted calls or simply judging salespeople they are about to connect with their boss. Be polite but assertive in your approach. It is undesirable for companies to have a hostile relationship with the gatekeeper. How to sell over the phone? Beware of the gatekeeper! 5.Your Voice As the two parties cannot see each other, their voices become the most personal connection in the conversation. Tone and speed are two of the most critical indicator of a person’s feelings, as nerves will raise both the pitch and speed at which people usually speak. Try to maintain a regular pitch and an above-average speed, as this combination allows sales representatives to be confident experts of their craft. 6. And Your Body Language In addition to verbal effects, non-verbal cues such as body language also translate well over the phone. One technique to keep in mind is to smile when speaking. The customer will not be able to see it, but they will be able to sense the warmth and enthusiasm in your voice. 194

Sales Executive (BFSI) VILT Another technique is the use of hand gestures. Like smiling, hand gestures inject more emotion into one’s words, adding an extra sense of engagement and persuasiveness into the dialogue. So again: how to sell on the phone? Act natural and be nice! 7. Be Personal One reason why customers prefer to call is the human connection aspect. They want a live person who understands and is capable of solving their problems. That is why sales representatives should not shy away from using their customers’ names. This practice is strongly recommended. Speaking on a first name basis removes barriers and builds rapport between the two parties. However, keep in mind, do not overuse this tactic. Inserting the customer’s name into every sentence will only make the sales representative look like the creepy uncle at the dinner table. A salesman-robot hybrid strikes back... The customer will likely feel violated and is unlikely to do any business with the company. Instead, speak as though you are talking to a friend. Use their names no more than three times in a conversation. It is a subtle, but effective technique to convey that the company is more than just a business, but a friend that can be counted on in the long run. If you are looking for an answer to this question: how to sell a phone to a customer - example is also here: remember that you are speaking to a live person that has a name, things to do and certain goals to achieve. Treat them with empathy and it will definitely pay off. 8. Ask Questions The purpose of every product is to satisfy a customer’s need or to solve their problem. By asking questions, the sales representative - and by extension, the business - can fully comprehend their customers’ needs and tailor their pitch to fulfill it. Like the last point, this should not be overused, though. Active listening alone should be enough for any sales representative to gauge the problem at hand, but thoughtful questions are used to fill the gaps between points for a complete understanding. 195

Sales Executive (BFSI) VILT The higher the company’s understanding of its customers, the more likely the company can close out the deal. If you understand your potential buyers, you won't need to spend hours thinking about how to sell on phone. 9. Especially Open-Ended Questions Open-ended questions are essential for any sales representative. Unlike their close ended counterparts, these questions are not designed to elicit a specific response, but rather to initiate the dialogue and build rapport. These open-ended questions open the floor to the customer, which is important because they might reveal new information and improve the business’ operations. Another benefit of open-ended questions is that it creates value for the customer, who is free to express his or her thoughts. Businesses must understand and connect with their customers to be successful, and these questions satisfy both of those points. Do this and you will rock at telephone selling techniques. 10. Hang Up Last Sales representatives usually have many calls to make, so it is understandable for them to hang up immediately and move on to another customer, but this is a bad practice. The customer may have thought of an important piece of information or have another last-minute question to ask, and hanging up on them would result in a missed opportunity. In more extreme scenarios, the customer may also mistake this as a sign of rudeness and move on to another company. In sales, every deal matters and it would be foolish to lose a deal for a few extra seconds. I hope this article answers all your questions and doubts in regards of the topic on how to sell a product to a customer over the phone. Looking for innovative tool that will help you improve the results of selling over the phone? Try Call Page, a callback solution that helps companies increase the numbers of sales calls from potential customers and teaches hw to sell on the phone.  Communicating with Power Communicating Power Introduction 196

Sales Executive (BFSI) VILT The style of our communication establishes a power relationship. We use several distinct styles of spoken communication and each one communicates the power stance of the relationship along with the semantics of the message. In every communication there are two messages, one about the semantics of the discussion, the other about the relationship of the participants. Objectives Completion status: this resource is considered to be complete. Attribution: User Beaumont created this resource and is actively using it. Please coordinate future development with this user if possible. The objectives of this course are to help you:  Identify various styles of communication,  Identify the power stance of communications you are participating in,  Determine if the power stance being used is helpful,  Choose your responses throughout communications sessions,  Project your agency and power,  Choose the semantics and power relationship you wish to communicate. This course is part of the Emotional Competency curriculum. This material has been adapted from the EmotionalCompetency.com page on Tone of Communication, with permission of the author. If you wish to contact the instructor, please click here to send me an email or leave a comment or question on the discussion page. 197

Sales Executive (BFSI) VILT Communications Styles The table below distinguishes between dialogue, discussion, debate, delegation, dogma and other terms we use to describe spoken communications. Peers are equals and they collaborate using dialogue. It is the only symmetrical form of communication. The other forms establish or reinforce asymmetrical, power-based relationships. Term Definition Power Stance Example Dialogue A conversation We are peers, Discussion collaborating to solve a between two or more Debate Defend people. An exchange problem we are facing together. Let’s work of ideas or opinions. Typical of the best scientific Root: Dia Logus, inquiry and “Through Words” together to discover an collaboration.“What is the understanding. Your Dialogue requires best design for our new views are essential to both talk and silence solving the problem. product?” to create an Completely open to new interweaving of ideas — Cooperation. ideas. Consideration of a subject by a group. A typical conversation that Talk or writing in I am scoring points begins by expressing a point which the pros and against your arguments. of view or suggesting a cons of a subject are Your point of view will solution, rather than stating considered. Root: eventually come around. a problem or need. same as Percussion, Somewhat open to new “May I bounce my new “ping pong,” back ideas — Consideration design off of you?” and forth, offense and defense. I am right, you are wrong, Presidential debates: “I am To engage in your way of thinking is clearly the best candidate.” argument by incorrect, the facts you “No, I am clearly the best discussing opposing present are incorrect. candidate.” points. Root: Your point of view is Development: “This is the from debatre, to wrong. You need to best design.” Marketing: fight, contend, to beat submit to my better “We can't afford to wait so down. judgment. Not open to new ideas — Contention. long for you to build it.” To ward off an Notice if the defense is The earth is estimated to be attack. Root: primarily evidence approximately 4 billion 198

Sales Executive (BFSI) VILT from défendere to based or power based. An years old based on the ward off. evidence based defense following evidence endorses the facts, a gathered by geologist, power based one doubts paleontologists, and the facts. astronomers: . . . Distraction Diverting attention. I don't care to respond to Bloviation, obfuscation, Root: Latin you and you don't have restating the question, distrahere, distract-, the power to make me changing the subject . . . to pull away respond. To discard or reject. You are not worth How dare you ask. Dismissal Root: dis- + mittere, engaging in any further If you don't even know that, Delegation to send. discussion. — Contempt. I can't help you. “I think it would be great if To assign work and I have power and you we had a department responsibility to don’t. What I want and picnic.” someone else. Root: “Great idea, why don’t you from delegatus, to need are important, your plan it.” Development: needs are not. Why don’t “How do you expect us to appoint. you just keep quiet or do it meet that deadline?” yourself — Control. Management: That's what I hired you to figure out.” You are not worth Not straightforward communicating with The recorded message that or candid; insincere honestly and genuinely. . . repeats “Your call is Disingenuous or calculating. Not and we both know there is important to us” as you are genuine. nothing you can do about kept on hold endlessly. it. Tension and This can be very useful to synthesis of Done best when wise, stimulate thinking and opposites. Root: from respectful, and vigorous explore the creative tension Latin dialectica, peers adopt the stance of: Dialectic of naturally occurring logic, from Greek my viewpoint and logic is conflicts, such as between dialektikē, the art of as valid as yours. speed and accuracy or the debate aspirations of hope and the stubbornness of evidence. Decree An authoritative I have chosen to exercise Court judgments or order having the my positional power and executive decisions and force of law. Root: make this final decision. pronouncements. 199