Personal selling entails assuring that a sales representative makes a sale through meeting the personally with the potential client. In most cases, the personal selling process takes the form of the sales representative having a one on one exchange with the potential customer (Heerden and Drotsky 2014). Moreover, in some situations, personal selling process entails introducing products to the new customers some of whom might not be aware of the purpose or existence of the products at hand. This demands that the sales representatives demonstrate total command when it comes to an understanding the product at hand as this is very critical in winning the support of the potential customers. On the other hand, and on many occasions, personal selling may also entail trying to win the support of the customers who are loyal to other alternatives in the market (Vangsgaard 2015). Similarly, below is a well elaborate plan that will be utilized in personal selling process for CAPCO Solutions based in Geneva as the company tries to secure sales for its financial consultancy services in a manner that appreciate the role of close contact with the customers as a necessary tool to its perpetuity.
Nature of Personal Selling and Product At Hand
The intention at hand is to utilize a platform for selling the financial consultancy to business outlets centered upon the intention of having a lasting business relationship with the final businesses that will get onboard. Therefore, to ensure that the lasting relationship will be realized, it is the goal at hand to see to it that critical information is availed these entities since this will play a crucial role in them understanding the superiority of our products. Besides, it is the same information that these businesses will use while convincing the end-users to consumer out products. Over and above, it is also the goal to ensure that the element of product superiority is well-established by the sales representatives thus ensuring that the demand for our products is guaranteed within the highly competitive market. All these strategies will guarantee that the personal selling process for the financial consultancy products done in a manner that appreciate the high substitutability of our products thus the need to put the best foot forward.
The primary product at hand is financial consultancy services that are highly demanded by big organizations such as the Swiss Army. Similarly, the personal selling process will also be creative in utilizing these references in winning the support of the businesses that will be consuming these services around Geneva. Moreover, with the services targeting one of the most highly guarded information, there will be the need for the sales team to win the confidence of the potential customers since this will be the only way any sales will be made. This will demand that the sales team has a total understanding of the key variables involved in the service package and the needed realignments that the consuming companies need to make for a more compactible and fruitful eventuality. To ensure this eventuality will be attained by all the customers, three phases that will be employed in the personal selling process are outlined below.
In this stage, the aim will be to empower the sales representatives on the goals at hand to ensure that relevance is maintained during the contact with the potential customers. In this subject, the sales representatives will be coached on topics to touch on the service at hand and how to go by when it comes to answering any follow-up questions from prospective customers. Moreover, under this phase, the sales representative will also be coached in details elements that are availed under the financial consultancy package. Moreover, the sales persons will also be taken through training on the expected behavior when it comes to potential customers thus empowering them when it comes to luring the prospective customers into consuming our service. The sales team will be taken through prospecting techniques to ensure that they are better placed in identifying potential customers for financial consultancy. Besides, the sales team will also be sensitized on the different viable methods when it comes to pre-approach techniques that largely entails collection of information that will help the sales team identify the common pattern when it comes to consumption of these services within the targeted market. Therefore, the principal intention will be to ensure that the sales team of the financial consultancy services will be aware of the goals at hand the best strategies to employ while in the field when identifying and winning the support of the potential customers.
This is the phase that will be characterized by the interaction between the potential customers and the sales team within the targeted market. One of the critical trait that the sales team under personal selling must have is the ability to relate to the prospective customers (Sharma 2016). Similarly, it will be expected of the sales team to create an empathetic environment while interacting with the customers since this will be helpful when it comes to the establishment of a constructive conversation. Moreover, the sales teams will also be expected to use an approach that will be built on the need to inform the customers on the benefits of adopting our financial consultancy services. It is will, therefore, be expected that at the center of any interaction with the customers, feature, and advantages benefits (FABs) of this service will be clearly defined.
Moreover, this phase will also entail the sales team performing a sales presentation where the goal will be to get the needed support of the customer through demonstrating the benefits of the services and the reasons they are superior to the competitors’ in the market. This will also allow the reduction of tension between parties thus also aiding in closing a sale. It is this presentation that help the customer understand the purpose of the service at and of importance; help the potential customers raise concerns that the sales personnel handle thus winning their support (Westra 2015). After the presentation and answering of any question raised by the customer, a salesperson will then be expected to close a sale where it will be expected that they make use of references of businesses that have been successful as a result of using our financial consultancy services. Moreover, to better guaranteeing the closing of a sale, the sales team will be armed with statics on the pre and after performance of the reference companies to demonstrate the effectiveness of our financial services.
It is expected that utilization of the above strategies will be successful in personal selling process because it is very customer-centric. Therefore, once a sale has been secured, it will be of high interest for the sales team to maintain the commitment from the buyers. In this line of thought, the sales team will be mandated to make weekly follow-up trips to the businesses that committed to buying the financial consultancy services. This will provide a platform upon which the sales team will be able to address any element of dissatisfactions and any implementation challenges. The follow-up visits will also be intended to ensure that the relationship established while closing the sales are maintained. This is in appreciation of the fact the personal selling process is highly influenced by the nature of the relationship between the salesperson and the customer (Shannahan R., Shannahan K., Bush and Moncrief 2013). Therefore, for the sales team to enhance the element of sustainability of the personal selling process, the sales team will further be available to the customers when a need demands so. This will be an approach that will help create a good image to the company a phenomenon known to increase the demand level since customers feel they can rely on the support of the concerned company.
It is evident that any personal selling process demands that a good relationship between the sales persons and the customer be created and sustained. Similarly, the strategies outlined in the personal selling approach demands the sales team be trained on the goals at hand, the nature of the customers and the best strategies to use while engaging with prospective customers. It is also the demand that the sales team makes the potential customers understand the attributes and benefits of our financial consultancy services. This will useful in ensuring that the customers understand they need to adopt the services and also for the sales team in closing the sales. Besides, the case at hand is based on a B2B product and thus the need to ensure that once a sale has been closed, it is will be maintained. This is the reason there will be a follow-up plan where sales team will be expected to make a weekly visit to the businesses where sales were closed to ensure that elements of dissatisfaction and implementation mishaps are dealt with promptly. This will be an approach that will bring about sustainability in the process of personal selling. It is thus the assertion that utilizing the above approach will help CAPCO Solutions sell its financial consultancy services in a cost effective way but above all in a sustainable manner through maintaining close ties with the realized customers.