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Anchoring and Loss Aversion
Anchoring refers to the human tendency to rely heavily on the first piece of information encountered (the “anchor”) when making decisions – even if it’s not objectively relevant. Loss aversion describes how people perceive losses as more painful than equivalent gains are pleasurable.
Adaptive Selling
Adaptive selling is the practice of tailoring your sales approach to each customer and situation rather than using a one-size-fits-all pitch. It’s about being flexible – adjusting your communication style, the benefits you emphasize, and even which product you lead with based on the customer’s unique personality, needs, and signals.
Active Listening
Active listening is the skill of giving your full attention to the customer and responding in a way that shows genuine understanding and empathy.
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Cold Calling
Cold calling is the practice of contacting potential customers “out of the blue” – without prior interaction or appointment – typically via telephone, but also by door-knocking or other direct outreach.
Creating Urgency
Creating urgency is a sales technique that makes the customer feel they must act now to secure a benefit or avoid a drawback.
Cross-Selling
Cross-selling is the sale of complementary or related products to an existing customer.
Consultative Selling
Consultative selling is an approach where the salesperson acts as a trusted advisor or consultant to the customer, rather than a traditional seller.
Closing Techniques
Closing techniques are strategies or approaches used to secure commitment from the customer and finalize the sale.
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Negotiation Basics
Negotiation in sales is the process of reaching a mutually acceptable agreement on the terms of a deal – often involving price, scope, or other conditions – such that both you (the seller) and the buyer feel satisfied.
Needs Analysis
The needs assessment is the phase in the sales conversation where the actual needs and desires of the customer are identified.
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Open-ended questions
Open-ended questions are questions that cannot be answered with “yes” or “no,” but allow for a more detailed response.
One step ahead in every conversation (motto & principle)
The motto “One step ahead in every conversation” stands for a proactive, forward-looking sales mentality.
Objection Handling
Objection handling is the skill of responding to any concern, hesitation, or “yeah, but…” that a prospect raises, in a way that alleviates their worry and keeps the sales process moving forward.
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Summary Technique
The summary technique involves repeating the key points, agreements, and next steps in a concise manner during or at the end of a conversation.
Storytelling in Sales
Storytelling in sales means conveying your message – whether it’s the value of your product, the journey of your company, or the transformation of a customer – in a narrative format rather than just dry facts.
SPIN Selling
SPIN Selling is a question-driven sales method developed by Neil Rackham based on the analysis of thousands of sales interactions. SPIN is an acronym for four categories of questions: Situation, Problem, Implication, and Need-Payoff.
Solution Orientation
Solution orientation in sales means always focusing on solving the customer's problem – not just promoting the product.
Sales call preparation
Sales call preparation encompasses all measures taken in advance of a customer meeting to ensure that it is as successful as possible.
