What is Sales?

[MUSIC] 0:00 In the last stage, we went over the different marketing activities we 0:04 can undertake to bring customers to our front door. 0:08 In addition to that however, we also need to do some direct selling to 0:12 get the product into our customer's hands and bring in revenue. 0:15 In this series, we're going to learn about sales, and 0:19 how we can start selling our product. 0:22 But first, what is sales? 0:24 Sales goes hand-in-hand with marketing, 0:25 and it involves everything you need to do to convert those 0:28 potential customers into buying ones by getting an agreement or a contract. 0:31 Without sales, your company won't last long. 0:36 Like marketing, sales is not a one solution fits all activity. 0:40 In fact, your approach to selling depends on the type of sale. 0:44 There's B2B, or business to business sales, B2C, business to consumer, 0:48 B2G, business to government, and even consumer to consumer, or C2C. 0:54 Sales strategies and 0:59 tactics really depend on which of these types of sales you are undertaking. 1:00 For example, with B2C sales, 1:05 your strategy might be to appeal to the emotions, wants and needs of the consumer. 1:07 But with B2B, you probably want to focus on cost benefits, advantages and so on. 1:12 When you sell, there are certain steps you can take to ensure success. 1:18 First off, you make the initial contact with the potential customer or prospect. 1:23 This step is also called prospecting. 1:28 Next, you plan out the sales process and the materials you need to make the sale. 1:31 Once you have that ready, 1:36 then you approach your prospect, which involves getting in touch with them. 1:38 This step will lead to certain information about the prospect that you can assess and 1:41 analyze to get a better understanding of their wants and needs. 1:46 You then make your presentation based on the collection of information 1:50 about their needs. 1:53 This is where you sell your product. 1:55 If everything goes according to plan, and you sell your product or 1:57 service, that's great. 2:00 But if they don't want to buy from you, the next step is to listen to 2:02 their objections, and to respond to them without sounding defensive or pushy. 2:06 If you convince them to buy, 2:11 well then you get a commitment from the prospect, who is now a buyer. 2:12 Once you have made the sale, 2:17 you follow up with a customer with post-sale services and support. 2:18 That is the sales process in a nutshell. 2:23 Having a scripted process like this reduces the uncertainity involved in 2:26 the process, and thereby the risk that you won't be able to make the sale. 2:30 Sales is not just about relaying facts and expecting your prospect to buy. 2:34 It is also about understanding the needs, wants and desires of your target audience, 2:39 the ability to listen, and relate to your customer. 2:43 For someone inexperienced, sales can be very hard to get into. 2:47 But don't worry, we'll go over each step together, and with time and 2:51 effort you will get good at it. 2:55