| What is It? | | | | from traditional sales approaches. They are more |
| Pace isn't everything in life. But let's admit it - | | | | like speed dating methods. What you see is what |
| moving in slow motion can be boring sometimes. | | | | you get. But they require due consideration as |
| That's why people pack a speedway at a | | | | they are subtlety involved in this approach.o |
| NASCAR event and not the long rallies of a | | | | Speed selling requires thorough preparation. It can |
| Formula One Race that can take days to be | | | | be done with role playing exercises with your |
| complete. Basketball and baseball games are more | | | | colleagues or friends before actual speed selling |
| popular than golf because they are of shorter | | | | events occur. Apportion a short period of time (5 |
| durations than the game of golf. This is an age of | | | | or 10 minutes for each prospect). Set a |
| instant results or instant gratification. The busy | | | | maximum time limit beyond which you are not |
| mother has to buy a DVD after her aerobics | | | | going to spend with any prospect.o Prepare your |
| class and then dash back home to be with her 6 | | | | sales presentation. Make it brief. There is simply |
| year old to help with homework before she can | | | | no time for lengthy and time consuming "sales |
| prepare dinner and then finally get the time to | | | | speak". Keep the unnecessary details away. Make |
| watch the DVD with her 6 year old daughter at | | | | your pitch short and crisp. But make it incisive and |
| bedtime. There is hardly any time to talk to her | | | | punchy. Include only the vital points. Sell the sizzle, |
| friends about the DVD and whether the movie | | | | not the steako Prepare a set of objections that |
| was good or bad. That's not a big deal; at least | | | | you might face in an actual sales scenario. And |
| the DVD will serve the purpose today and last for | | | | devise their answers. The answers also should be |
| years. If it's good it's good, if not she is never | | | | brief.o Practice to complete your presentation |
| going to buy another one with the same title. | | | | within the stipulated time without looking at your |
| Simple. | | | | wristwatch. Repeatedly looking at the watch could |
| Society's craving for convenience has resulted in | | | | give the impression that you are not interested in |
| another form of a grab and go thing that has | | | | the prospect.o Be presentable. Be well groomed |
| become a rage - speed dating. Barring driving, | | | | and look presentable, "dress for success" for the |
| speed works in many situations because today | | | | speed selling occasion.o Be relaxed and have a |
| life is moving at a hectic pace. There are even | | | | positive frame of mind. This is just another way |
| people that do not think much about the results | | | | of selling. There is bound to be some amount of |
| or consequences. They do not probe much about | | | | success. If there is none, no problem. It will be a |
| the quality. What they see is what they get. They | | | | learning exercise.o Be punctual and arrive in time. |
| have minutes to make decisions. If they think a | | | | Complete all the formalities and paper work well |
| restaurant could be good, they go ahead and eat | | | | before the actual meetings start. Keep a few |
| there. Repenting or rejoicing is saved for later. For | | | | minutes in hand to "get into the zone" before you |
| the moment they can think only of the hunger. | | | | start meeting up prospects. Pep yourself up for |
| In tandem with today's pace and mindset speed | | | | the occasion.o Treat each prospect as a potential |
| selling has caught up with the imagination of | | | | customer. No one should be ignored, because it |
| buyers and sellers. Speed selling is a selling event | | | | doesn't consume much time. The sales executive |
| or sales training process where a seller typically | | | | can afford to spend a few minutes on each |
| spends less time with each prospective buyer and | | | | prospect even if it doesn't convert in to sales. It |
| moves on to the next buyer quickly until he finally | | | | is good trying and losing rather than losing by not |
| makes a sale. The speed selling training exercise | | | | trying.o Qualify the prospect by using open-ended |
| can help new and veteran sales professionals to | | | | questions like, who what, when where and why.o |
| understand the true needs of the prospect | | | | Focus on your current prospect. Keep eye |
| faster, while focusing on articulating value at | | | | contact and body language positive and stand at |
| every point in the sales process. Much like a dating | | | | the ready to communicate openly and with |
| service where prospective partners can size each | | | | enthusiasm with the prospect and do not look |
| other up for compatibility within minutes in speed | | | | over his/her shoulder to see who is next.o Listen |
| selling the buyer can know whether the seller can | | | | intently and ask pertinent questions in a polite and |
| meet his requirements and the seller would sense | | | | inoffensive manner.o Always stay focused and |
| immediately whether the prospect is likely to buy | | | | bring the conversation back to your business and |
| from him. The beauty of it all is that it happens | | | | the true needs and desires of the prospect.o Be |
| fast without wasting much time from either | | | | honest with the prospects. The prospects have |
| person's side. This saves precious time and the | | | | the luxury of talking to your competitors and |
| seller can move on to the next prospect without | | | | finding out what is the truth. So sound convincing. |
| much delay. The over all sales efficiency increases | | | | If you are caught off guard in one briefing or |
| by this method as more prospects are covered in | | | | presentation the domino effect could spoil your |
| less time. | | | | entire speed selling effort.o Be prepared to |
| Why Buyers Prefer Speed Sellingo For the buyers | | | | answer the prospects objections. Think on your |
| that are indecisive about a purchase, speed selling | | | | feet, there is no time to go back and ponder |
| is a boom. It can end the "storm in the tea cup" | | | | over the issue and comeback with an answer. |
| kind of turmoil brewing in the mind of the | | | | Give answers then and there. To do that you |
| customer and closing of the sale would result in | | | | must do your home work.o Look for the body |
| much needed relief for him. They would be | | | | language and observe the use of words. If the |
| relieved to have overcome the niggling pull and | | | | prospect expresses interest seize the opportunity. |
| push going in their minds.o There are buyers that | | | | Almost the same verbal cues work here that |
| are a bit adventurous and venture in to | | | | work in case for traditional sales.o Encourage the |
| unexplored territories to try out newer products, | | | | prospect to quit dilly dallying and take a decision |
| lesser known companies, or give other reputed | | | | now. In a traditional sale normally when a prospect |
| brand names a chance. They relish the privilege of | | | | dithers it is advised to spend some time and |
| being the first in their respective business and | | | | persuade the prospect to buy now. But here you |
| social circles to give verdict about the product.o | | | | just finish it with one or two questions.o Do not |
| Speed selling cuts a lot of what the prospects | | | | linger for more than the maximum set time limit. |
| think as sales or small talk and saves them | | | | Try to close within the time limit set. If it happens |
| valuable time. | | | | within that time frame fine, if it doesn't probably it |
| Why Sales Professionals Prefer Speed Sellingo | | | | will not happen by spending more time on it.o |
| Obviously because within less time they can sell | | | | Move on to the next prospect without wasting |
| more.o It saves a lot of energy and allows them | | | | much time, despite the outcome of the last |
| to concentrate on bigger sales with more | | | | attempt. This is the only step speed selling |
| prospects.o Speed selling can be tried with | | | | deviates from speed dating. In speed dating the |
| prospects and suspects. A prospect is someone | | | | rejection or selections are not known immediately, |
| who has a need, desire, money and authority to | | | | but in speed selling it is out then and there. Do not |
| purchase now or in the next 30 days. S suspect | | | | get disheartened by rejections. Also do not get |
| is someone who is "kicking tires" and is not really | | | | elated by a sale. Some people don't like too much |
| serious about making a purchasing decision. More | | | | of excitement in the voices they are listening to. |
| time is then spent with the prospect, not the less | | | | Maintain a steady tone. Equanimity is the key. |
| important suspect and more sales are made. | | | | There will be plenty of time to rejoice at the end |
| Speed Selling Training Methods | | | | of it all.o Always be courteous and treat each |
| Speed selling works best in an open atmosphere | | | | prospect with respect irrespective of whether the |
| where a number of buyers and sellers for a single | | | | prospect buys or not. May be your other |
| products or service meet up. The potential buyers | | | | prospect that is interested in buying from you is |
| know that there are more than one supplier of | | | | just standing a few feet away and observing you. |
| the product and the sellers don't latch all their | | | | Always thank your prospects sincerely at the end |
| hopes on to one prospect. The sellers spend less | | | | of your sales talk or pitch. Appreciate them for |
| time with the prospects then they normally do, | | | | spending time listening to you. |
| so do the prospects with them. Within a very | | | | With a positive attitude and the necessary |
| short time they sort out each others needs, | | | | salesmanship qualities speed selling can yield |
| desires and decide if they are a good fit for a | | | | amazing results quickly. Following these methods |
| transaction. | | | | should result in a fair amount of success. |
| The methods of speed selling don't deviate largely | | | | |