The most important aspect for any start-up is the innovation as well as the sales of the new product. The whole start-up is dependent on the sales of the product. In one of our sessions, the importance of the selling for start-ups was taught and headed by one of the guest speaker Adam Raman. The key aspects which were pointed out were the identification of the customer needs and wants, development of a sales strategy, and planning about the upcoming trade fairs.
An in-depth knowledge about the sales were given which included the entire sales journey starting from the customer’s needs & wants and ending with the after sales services. The buyer’s persona includes the customer demographics, their needs, their wants and their behaviour patterns. The needs and wants of the customer play a vital role in the entire selling process and that can easily be identified through active listening and questioning. Emphasis on the value statements is the next step which may include the customer problem solving and then the next step is to close and see the reactions and patterns of the customer. Handling of the objections of the customers was the next main step and the crucial step where the critical objections are known and has to be solved to convince the customer to purchase the product and finally it needs to be closed again.
The thing which I liked the most was about the open probes and the closed probes which can be used to know more about the customer needs and wants. We had been given an activity in the class about the iPhone XS and we were required to play the roles of the customer and the salesperson with the objective to switch from other phones to this one. We had to work in pairs for this and were a successful one for me and my teammate as we focussed more on the features of the product and turned them into benefits so that it was easy for the customer to understand about iPhone XS and its features in a different format. Then the closed probing style was also implemented where only the customer is limited to just “yes/no” question to know more about their needs and wants.
The value statement was the benefits which are offered to the customers. The value statement of our start-up HSL was to provide better safety and a smarter lock for bicycles with a GPS system installed and a two-way alarm system installed within the bicycle lock. The final stage of the selling process was to deal with any objections by the customers and clear all their doubts about the product and also focus on the emotional and rational drivers of the customers purchase.