Step 3 – Link Your Product to the Need

FAB Selling Principle

The FAB selling principle is the most basic technique to use when selling. Successful salespeople always confess that they do not just hope their product sells, but they always employ a sales strategy. They work on how they present the product, until it is well worked out. Something which they can deliver with confidence, ready to answer all relevant questions and objections.

What the FAB principle can do for an inexperienced salesperson, is to give them a foundation to work from and this can afford them the comfort to develop their own sales presentation and strategy for different products.

With the FAB principle, any product can be presented and sold because all products have this basic principle relevant to them.

F - Feature (type, features, composition)
A - Application (how to use, when to use, conditions for which it works well)
B - Benefits (advantages, benefits, value-add, how it distinguishes itself from other products)

How to Optimize Influence

There are three kinds of influencing tactics: logical, emotional, and cooperative. We call them influencing with head, heart and hands.

A logical appeal taps into people’s reason and intellect. You present an argument for the best choice of action based on organisational benefits, personal benefits or both. Most of us know how to tout the organisational benefits of our ideas or plans. We explain the reasons for our proposed actions objectively and logically, with factual and detailed evidence for their feasibility and importance. We explain clearly and logically why these actions are the best possible. When challenged, we explain how potential organisational problems or concerns can be handled.

An emotional appeal connects your message, goal or project to individual goals and values. Link your request to a clear and appealing vision the other person can fully support. Describe the task with enthusiasm, and express confidence in the person’s ability to accomplish it. Of course, to make an emotional appeal you must have some relationship with and understanding of the person you’re appealing to. A misguided or uninformed emotional appeal can backfire. Generally, an idea that promotes a person’s sense of well-being, service or belonging has the best chance of gaining support.

A cooperative appeal builds a connection between you, the person you want to influence and others, to get support for your proposal. Working together to accomplish a mutually important goal means you’re extending a hand to others in the organisation. It is an extremely effective way of influencing. Building cooperative connections may involve collaboration (figuring out what you will do together), consultation (finding out what ideas other people have) and alliances (drawing on whoever already supports you or has credibility you need).

Know Your Products

Whether your business is self-service or delivers personal service, a customer-facing person must be prepared to answer any customer questions. Knowing about the products is part of being a professional.

Why is it important to be knowledgeable about your products? Because it helps you sell. When you know about what you are selling, you can speak intelligently about products and services. You can give good, accurate information. You sound convincing and credible. Customers like that! They want to trust you.

They want to feel like they have come to the right person and to the right place. Why? Because it makes them feel like smart customers. It makes them feel better about the goods they buy. In addition, this make them feel better about themselves.

Product knowledge helps build your enthusiasm for a sale. It allows you to show pride in the product or service. Your enthusiasm can increase customer interest. You can make a customer believe that what you are selling is what they had been looking for. You help advertise the product to the customer. It is like saying, “I have just the thing for you.”

Product knowledge enables you to organise effective sales presentations. If you know a product well, you can present it in different ways. You can tailor the sale to the customer. You can highlight aspects you think would most attract a potential buyer. Such features are easy maintenance or extended warranty may change an uncertain customer in a confident buyer.

Your knowledge of a product’s pros and cons allows you to handle objections more effectively. You can predict what customers will not like about a product and conquer their objections by turning their attention to what they will like. You can overcome customer resistance by pointing out hidden features or benefits. You can also move from one product to another and present effective sales pitches for each.

Things you need to know about products:

• Features
• Special benefits
• Other similar options (comparative)
• Price
• Restrictions for use
• Quality
• Locations in store
• Stock availability
• Products on promotions

Take responsibility for learning about the products you sell. Ask yourself what you would like to know about a product. Listen to customers’ questions and give them answers. You should always be able to answer these basic questions:

Do you sell…?  Know what the store carries. Be able to answer customer questions about the brands, styles, sizes, colours, and prices of products sold. Know what products are made of and why. Know their uses and benefits. Know their performance history. Know how to maintain and service products. Know what related items might appeal to customers.

Where can I find…?  Know the location of products within the store. Do not lead customers around in a hunt. Know how items are stocked on shelves or display areas. Know where additional quantities of products are stored. Know what products other departments carry. Also, know what the competition sells.

Do you have any more…? Know if a product is in stock. Know how out-of-stock items can be ordered and how long they will take to arrive. If you do not know, ask the manager, buyer or warehouse. Do not disappoint customers by giving them wrong information; they will lose confidence in you.

How much is this...? Know price ranges for various products and services. Know the costs of different features and qualities. Know the prices of the items on sale. Know what products are being promoted and are on display. Know what items are features in store ads and circulars. If the customers say. “I saw an ad for…” know what they are talking about.

Study product information provided by the manufacturer, by suppliers, by the buyers, by your store manager, from wherever you can. Impress you customers with your product knowledge. However, beware of sounding like a know-it-all. Most customers are well informed about the products they want to buy. They want professional advice, not a patronising sale pitch.

Product Worth

An important part of comprehensive marketing strategy for a product is establishing its price. Price refers to the value or worth of a product that attracts the buyer to exchange money or something of value for the product. A product has some want-satisfying attributes for which the prospect is willing to exchange something of value.

The persons want to assign a value to the item offered for sale. For instance, a golfer who wants to purchase a dozen golf balls already has conceived some estimated measure of the product’s value. Of course, the sporting goods store may have set a price higher than estimated. This could diminish want somewhat, depending on the difference between the two. Should the golfer then find the same brand of golf balls on sale at a discount store, at a price more in line with a preconceived idea of the product’s value, the want may be strong enough to stimulate a purchase.

Many companies offer customers various types of discounts from normal prices to entice them to buy. These discounts become an important part of the firm’s marketing effort. The firm’s marketing managers usually develop them at the corporate level. Immediately before the sales period when the product’s promotion begins, the sales force is informed of special discounts that they may offer to customers.

This discount information becomes an important part of the sales presentation. It is important for salespeople to familiarise themselves with the company’s price, discount and credit policies so that they can use them to competitive advantage and enhance their professional image with the buyer.