SEGMENT 13: PERSONAL SELLING AND SALES MANAGEMENT
SEGMENT 13: PERSONAL SELLING AND SALES MANAGEMENT
(Related chapter in text: 20)
LEARNING OBJECTIVES
1. Understand the different types of sales positions common in industry
2. Delineate the stages in the personal selling process
3. Distinguish “canned” sales presentations from the need-satisfaction approach
4. Understand how the multiattribute model is useful in personal selling
5. Understand the basic concepts of salesforce management
6. Be able to use the workload method to determine size of salesforce
COMMON SALES POSITIONS
Retail Sales(store) 4.1 Million
Mfr. Sales Reps(manu ) 1.8 Million
Insurance Sales 378 Thousand
Financial Sales 367 Thousand
Real Estate Sales 339 Thousand
Sales Engineers 85 Thousand
THE SELLING PROCESS –the backbone
1. PROSPECTING- prosceptive consumers
2. PREAPPROACH
3. APPROACH
4. PRESENTATION
5. CLOSE
6. FOLLOW-UP
PROSPECTING
--Finding Leads
--Qualifying Prospects
Establish need/want
Ascertain ability to purchase
Determine purchase authority
Verify eligibility
PREAPPROACH-before you approach them
-Gathering Information
-Setting Sales Call Goals
-Preparing Presentation
-PRACTICE, PRACTICE, PRACTICE!
APPROACH-entering into sales interaction
-Making a good first impression
-Building rapport
-Asking questions
-Listening!
-Discovering needs
TIME SPENT BY “ADAPTIVE”SALESPERSON IN SALES CALLS...
100%
TALKING
LISTENING
TIME
PRESENTATION- what format are we going to use
(Determine format to be used)
-Deliver content
-Use of visual aids (laptop)
-Product demonstrations
-Handling objections
SALES PRESENTATION FORMATS
--"CANNED" (FORMULA)- lowest level,
--OUTLINED PRESENTATION- a head of time head line, deviate as neccassary, drive from outline, empathy
--ADAPTIVE SELLING
(MARKETING ORIENTATION)
"CANNED" FORMAT-memorize a script
7. INGRATIATION-false flattery,
8. FOOT-IN-THE-DOOR-make a small request first (glass of water) probability to 2nd request, is greater after 1st request.
9. DOOR-IN-THE-FACE-
10. slam face in door say no, ask first for large number, then ask for smaller number
ADAPTIVE SELLING FORMAT
1. DETERMINE CUSTOMER NEEDS & PERCEPTIONS-ask questions to see where consumer is coming from before making strategy..there needs
2. DEVISE STRATEGY TO SATISFY CUSTOMER NEEDS
3. Deliver content sales presentation, use of visual aids, product demonstrations, handling objections-the kids of things a consumer might make to what your saying (price, comparison)
MULTIATTRIBUTE MODEL APPROACH
| | | |
|ATTRIBUTE |RATING |IMPORTANCE |
| | | | | |
| |ACTUAL |SALESMAN |ACTUAL |SALESMAN |
| |CUSTOMER |ESTIMATE |CUSTOMER |ESTIMATE |
| | | | | |
|RELIABILITY |8 |8 |9 |8 |
| | | | | |
|FLEXIBILITY |6 |9 |8 |6 |
| | | | | |
|SERVICE |4 |7 |7 |5 |
| | | | | |
|ECONOMY |5 |3 |5 |9 |
CLOSE
-Summarize benefits
-Ask for the sale
-Confirm the sale
-Show appreciation
Relationship selling
1. listens
2. express genuine concern
3. keep promises
4. use knowledge to meet consumer needs
FOLLOW-UP
-Ensure on-time delivery
-Ensure customer satisfaction
-Pursue add-on sales
-Build/sustain relationship
HOW TO SELL
11. KNOW YOUR PRODUCT
12. BELIEVE IN IT
13. KNOW YOUR CUSTOMER
14. BELIEVE IN YOURSELF
15. SELL YOURSELF
16. SELL 1/4 INCH HOLES!
SALESFORCE MANAGEMENT
1. SALES PLAN FORMULATION
- SALES OBJECTIVE
- MAKE OR BUY? Make own salesforce, or buy one? Manu reps
- ORGANIZATION- how do we organize
17. REGIONAL- ne, sw, regional managers, etc
18. PRODUCT LINE- differences in product ( Mainframes vs. scientific computers)
19. TYPE OF ACCOUNT- different sales force for different accounts
- SIZE OF SALESFORCE
WORKLOAD METHOD
NS = NC X CF X CL / AST
NS = NUMBER OF SALESPEOPLE
NC = NUMBER OF CUSTOMERS
CF = CALL FREQUENCY (# PER YEAR)
CL = AVERAGE LENGTH OF SALES CALL
AST = AVERAGE AMOUNT OF SALESPERSON SELLING TIME AVAILABLE ANNUALLY
EXAMPLE
NC = 35,000
CF = 26
CL = .50 HOURS
AST = 1400 HOURS
NS = 35,000 X 26 X .50 / 1400
NS = 325
2. SALES PLAN IMPLEMENTATION
- RECRUITING- right people
- TRAINING
- MOTIVATING-recongition
- COMPENSATING-how we go about paying them
- EVALUATING-how well they are doing. Reflect goals and objectives
-
COMMON SALESPERSON EVALUATION MEASURES
1. Conversion Rate
# Sales / # Calls
2. Meeting Quota
$ Actual Sales / $ Sales Goals
SALESFORCE COMPENSATION
20. SALARY
21. STRAIGHT COMMISSION-lower level, insurance, telemarketing, not used by organization who care with relationship
22. COMBINATION
- SALARY PLUS COMMISSION
- SALARY PLUS BONUS-most common, bonus is tied to team goals, etc. profitability.
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