Key Principles and Techniques for Successful Selling

This presentation discusses the key principles and techniques for successful selling, focusing on customer retention, customer relationship management, technology, addressing customer needs, and price and value. It also provides examples from Argos, a subsidiary of Sainsbury's, operating in the UK and Ireland.

SALES MANAGEMENT

Table of Contents
 Introduction
 Key principles and techniques for successful selling
 Conclusion
 References

Introduction
Sales Management is an important component for a company as it helps in
attaining goals and objectives. Organization chosen for this presentation is
Argos, which is a subsidiary of Sainsbury’s and has operations in United
Kingdom as well as Ireland. The presentation explains key principles and
techniques for successful planning and how they contribute to building and
managing customer relationships with specific examples.

Key principles and techniques for successful
selling
The various key principles and techniques for selling that contribute towards building
and maintaining long term relationships with the customers are explained below –
 Knowing how to retain customers
 Strengthen Customer Relationship Management
 Understanding and making an effective use of technology
 Focus on addressing customers’ needs
 Price and Value

Cont…
Knowing how to retain customers – Retaining customers is one of the most
essential key principles of successful selling in today’s context. An organization
should keep making efforts to retain its existing customers as they act as a big
support and can help referring a company’s products to others.
Strengthen Customer Relationship Management – CRM or Customer
Relationship is another key principle of successful selling. It helps companies in
building an effective relationship with their customers. This further leads to
customer retention and also contributes to an increase in the overall profitability.

Cont…
 Understanding and making an effective use of technology – For successful
selling, an organization should know how to enhance sales by using
technology. Different technological tools that can ensure selling of products
effectively include electronic apps, CRM solutions and several other software.
 Focus on addressing customers’ needs – To ensure that the products and
services of a company are sold successfully in the market, main focus should
be laid upon their needs and expectations.

Cont…
 Price and Value – As per the view point of Daniel Disney, every industry has
competition and a difference in the prices can be irrelevant if a company can’t
create and products that add value (The 5 Principles of Successful Selling,
2020).
 Understanding the market – Last but not the least, a clear understand of the
market and its trends. If the salesforce of the company fails to understand its
market, sales of the respective company will not be successful.

Cont…
Within an Argos retail store, a successful sales pitch should specifically have
an objective so as to move the buyer to the next process of sales process.
Primary focus should be laid on the customers’ interest and expectations. A
little personalization in a successful sales pitch can help in converting a
prospect to a customer. Cold calling refers to calling someone with whom one
has not had a previous contact before for the company’s product or service.

Cont…
The major difference between cold and warm calling is that warm calling is
associated with contacting a prospect that has had a previous contact with the
sales person or the business and shown interest. For example- Argos can
make use of SPIN selling and SNAP selling in order to enhance its sales. It is
also suggested that the company exceed the expectations of its customers by
offering them products that are of high value.

Conclusion
From the above presentation, it can be concluded that there are various key
principles and techniques like price and value, an understanding of the
market etc. that ensure a successful selling of products in the market. By
incorporating these principles in the system, a company build trust and
long-term relationship with its customers. This can further lead to an
increase in the overall profitability of the company.

References
 Baumgartner, T., Hatami, H. and De Uster, M. V., 2016. Sales Growth: Five
Proven Strategies from the World's Sales Leaders. John Wiley & Sons.
 Gallino, S., Moreno, A. and Stamatopoulos, I., 2017. Channel integration,
sales dispersion, and inventory management. Management Science. 63(9).
pp.2813-2831.

Thank You