Today I read a post in an entrepreneur magazine website which gave emphasis on knowing the product to close a sale. As a sales professional in the consumer goods industry and an entrepreneur here is a list of tips to close a sale based on my experience. I am happy to share to all entrepreneurs my experiences. I know these will be helpful strategies as they are practical.
Knowing your product too well will cost you
Imagine getting a number and sitting next to all account executives of different consumer goods suppliers, each waiting to pitch at a scrutinizing buyer of a national retail sales company. If you’re a new sales agent, focus on giving a good impression of yourself, because your consumer goods are already familiar to the buyer.
It is however an opportunity for the buyer to get acquainted with you and test out your nerves. Most buyers are mature and have performed their job for years. They are trained to make life a bit hard for sales agents. Some will deny your consumer goods pitch at the first sign of discontent and move on to the next sales agent. So knowing your consumer goods product description well is a requirement but not a deciding factor. Product introduction in sales visits are ignored intentionally to play mind games and gain leverage in negotiations against new sales agents.
In negotiating of a sale, learn how to bluff
The consumer goods retail industry is run by the multinational and local suppliers of consumer goods companies each trying to compete for market share. Market share in terms of the amount of consumer goods sold in every outlet. A buyer of an outlet understands this on-going competition and uses it to their advantage. You as the sales agent are the referee between buyers and suppliers.
The buyer waits for you as the sales agent to pitch, then maximizes the benefits on terms of the sale. While you as the sales agent also prepares to increase discounts upon agreement of higher sales purchase. Aside from discounts there is a return of consumer goods policy that you can choose to present to a buyer at a right moment to gain priority over competition. A limited stocks pitch also puts pressure on a buyer to take it or leave it. The entire consumer goods sale is almost like an ordeal of playing poker.
Orchestrate the whole consumer goods exchange
Assuming that the sale has been closed by your perfect sales pitch, the real work begins. The sale may be closed but cancellation is still an option for your buyer. Be aware that once the buyer agrees to the terms of the sale, the buyer now plans of disposing the consumer goods and make a profit. It is now up to you as the sales agent to follow through and not ruin the buyer’s plan. you must now make the necessary arrangements.
Make sure you do not to run out of the ordered consumer goods, and process the documentation of the order immediately. If necessary, cut corners to expedite the delivery. Check your consumer goods delivery team from time to time. Your delivery may be important to you and your buyer, but delivery people at times can be unpredictable.
Lastly, be at the delivery site and on schedule. Supervise and show concern for the handling of the consumer goods. Show the buyer that you’re more of a doer than a talker. This extra effort being at their establishment instead of being somewhere else will seal the deal. It will change their perception of you just doing your job and selling consumer goods. Buyers will see you as a reliable and responsible person. Remember that trust is hard to earn in the consumer goods industry because buyers have seen it all.
Collect your receivables after attending to the goods for return
Each sales agent is different. Each has a unique style of closing a sale. But all are subject to the same return of damaged consumer goods policy. Consumer goods which are not fit for resale are returned to a supplier. In the return, the value of the closed sale is lowered. Damage goods are often deducted directly to the amount of the recently closed sale. Buyers are always on a look out for the opportunity to return unwanted consumer goods.
But delaying the process to close a better deal is totally up to you as the sales agent. Keep in mind they still have not given you your payment for the sale of your consumer goods. Attending to the buyers difficulty will help pry the payment off their grasp.
In closing a sale, the sales agent represents the product. A buyer will welcome a sales agent that does not only know how to sell but is also a human being. Even if the consumer goods are unreasonably priced, or slow moving, Build credibility in the consumer goods industry by learning the basics and don’t be afraid of doing a little dirty work. In the end you are the image of your consumer goods.
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