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Decoding Demand
Tuesday, June 26, 2012, 3:00 PM
[General]
Demand Stage Selling is a technique that identifies how far along in the buying process a customer has progressed. This tactic dictates that you deliver the type of presentation that appeals specifically to someone at each particular stage. Demand Stage Selling immediately helps block out irrelevant objections and tremendously improves your closing ratios.
Some of this clairvoyant ability comes from experience, of course. Even more of it comes from advanced listening skills. Top salespeople really listen when their prospect is talking and pick up small cues that many others miss. Many good salespeople are also students of human psychology. They make it a point to study human nature and learn a lot about their customer in the process. As we get ready to make the actual oral presentation, let's put it in context.
Prospective buyers go through several stages in the decision process-unconsciously,Cheap Brandon Graham Jersey, to them. First, they have to recognize a need and decide to buy something to fill that need. This decision creates primary demand. You can equate this stage to that little pang of hunger you get in the late afternoon. Your hunger is the need-the first stage of demand.
One important talent top salespeople have is the ability to recognize the prospect's state of mind and shape their presentations accordingly. They determine if the customer is getting ready to place an order or just starting to comparison shop. They can tell whether the prospect has already decided to buy the product and is negotiating for the best price or whether he or she is weighing other options. They understand that different things are important to the customer at each step in the buying process. They practice Demand Stage Selling.
Finally, the customer must decide which service provider or product brand to buy. This is third-level demand. In our afternoon snack example, this is when you decide whether to buy the Snickers or the Milky Way. Your prospect decides whether to buy from you or from one of your competitors. In sales, this third level of demand is the one concentrated on most heavily.
The prospect then has to decide on a type of product or service that will fill the need they've identified, which creates secondary demand. In our example, what are you hungry for? You have choices-a candy bar,Cheap Chuck Foreman Jersey, a piece of fruit, or some microwave popcorn (which invariably creates more demand from everybody else within aroma range-but that's another story).
Wouldn't it be great if you could read your customers' minds? You know,Cheap Houston Texans Jerseys, get inside their heads and walk around a little bit? The very best salespeople seem to have that ability-it's as if they know what customers are going to say before they say it. They have a sixth sense about which objections a particular customer is most likely to raise. They know which ideas offer the specific benefits that really ring the prospect's bell.
Three Stages Of Demand
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