Aug 2, 2016

HOW CAN A COMPANY EARN MORE PROFITS?


"All of us, in a sense, struggle continuously all the time, because we never get what we want. The important thing which I've really learned is how do you not give up, because you never succeed in.

(Mukesh Ambani)

"I would say that one of the things I wish I could do differently would be to be more outgoing."

(Ratan Tata)

Your Company would like to compliment you for a talented idea in setting up your business. This daring action of yours would spell financial favour for yourself. But, I believe that an Intense marketing skill and strategy must be implemented in order for this daring and dashing of yours to succeed. You just cannot make this organization like those other ordinary companies that didn’t really make -good because of an insufficient and lack of marketing strategy. But your company would like to provide its own best marketing services in order to make your business successful among all worldwide. Further to state that it is already -known for the excellent valuable services, Marketing strategies and innovative ideas that company provides by expanding and extending its network through millions of accounts throughout world and using Media services, television, radio and moreover technically and commercially well trained Sales Team and taking the best advantage of internet facilities in order to make establish that your business will be made expected success and communicate the people/market that you can possibly reach to the top using these effective marketing methods. Please let us assist you in making your business success in all respects and make you to start a great legally earned income hereafter from the rest and known worldwide.

I hope following are few qualities that may require for continuous growth of any organizations or any institutions to establish their network and enhancing their sales every year. Following are the few qualities a salesman should possess which enables him to focus on his career.

How does a Company become successful?

Today we have seen that many large companies or small organizations are closing doors every year due to one or the other reasons and many companies are growing towards success and earning huge profit margin despite facing a lot of economic problems, lack of infrastructure facilities, and shortage of funds and so on. But still how they are retaining their status and brand name in the market? Is that good Marketing and Sales team?  Good management? Skilled labors? Brand name? Quality and design? Services provided by the company? Yes! There are many factors to be considered for a growing company. As a salesperson you must follow the companies aim and object and implement the same and see that it has to reach each customer for their entire satisfaction.

UNDERSTAND WHAT MAKES BRANDS/COMPANY SUCCESSFUL?

What is it that makes a brand a hit? An easy way to find out is to evaluate your own favorites. List ten favorite brands/services/organizations. What makes them great for you?

Brand/service/organization
What makes them great?



















Do you notice anything that stands out in right hand column? We can go through this exercise in our seminars, and the qualities that are dominant, time at after time, are customer service, product quality, value for money, and unquestioning acceptance of the fact that the customer is very, very important.

Let me share with you a good example of excellent service. We recently had the exhaust pipe on my car repaired. I looked in the directory and phoned one of the repair companies, and they called me back with a question based on various possibilities. They were open seven days a week. I decided to use them. When I got there, they invited me to sit in a reasonably comfortable lounge. Hey told me I would have to wait 15 minutes before they would be able to look at my car. There was a coffee machine, a food vendor, a TV and most of the day’s newspapers available. The lounge had a window overlooking the workshop area. After about 20 minutes, my car was driven in and put on the hoist. A mechanic inspected it, and then I was invited to come and see for myself. I was politely shown the problem, what worked and what did not. It was clear what had to be done. I was given the price (it matched the original quote) and told this would take an hour to fix. I said I would be back.

When I returned an hour later, the car was still on the hoist, but it as being worked on. About ten minutes later, it came off and I was invited to pay my bill. When that transaction was completed, I was given a cardboard portfolio containing a notepad, a company’s pen, my bill and guarantee, and a set of stickers for my kids to be put on their toy cars (all branded of the company, of course!). Even though it had all taken a little longer then suggested, I left there feeling good, and my car sounded much quieter.

How does what you do shape up in these areas?

UNDERSTAND WHAT MAKES BRANDS FAIL?

Just to prove our point, let us look at the other side of the coin. What is it that makes a brand die? Evaluate your own favorite disasters. List half a dozen dead or dying brands/services/organizations. What made them fail?

Brand/service/origination
What made them fail?



















Here are a couple of my favorites. And I predicted they would fail when they were announced. Why won’t people listen?

Phone stick – a mobile phone that  you could only use for outgoing calls, and only if you were within range of a relay station, identified by a sign on the wall. Such stations were to be found in certain well – populated shopping areas. How much imagination did it take to make this idea up? How many billions were blown? Too many restrictions to its use and no particular incremental benefits (it takes the place of a pay phone) dispatched this piece of needless technology to an early grave (this is just one of the example of a failure).

One of the satellite broadcasting, techno block, Markland and the space point. Coming on the scene some months after the launch of a less complex, more compatible rival system (fly), BTB was a direct home satellite TV broadcasting facility. It required a dish antenna, a satellite tuner and a converter to make the techno block TV signal work on the home TV. The techno block TV format was supposed to give a better picture quality, but this was indiscernible on a conventional TV set. BTB spent millions on own satellite (Markland) and a very fancy headquarters building. Fly leased space on an existing satellite (ultra) and more Spartan office space. BTB got into a bidding war with fly on the prices of movies it had to pay distributors for its movie channel, driving its cost into outer space. BTB’s early failure (and merger with fly to form techno block fly broadcasting company) was as predictable as the next sunrise. Anyone want a satellite? Mark land is up there, uselessly in orbit, serving no purpose.

WHAT IS IT THAT MAKES YOUR COMPETITORS STANDING OUT?

List some competitors. What makes them great for your prospects?

Competitor
What makes them great?



















Few months ago at seminar, I went round the room, asking people to discuss what had come up. One delegate said, ‘Well, my competitors use attractive young women as sales reps.” Oh, and I suppose you use unattractive young women, is that it?’. I could not resist replying. It’s easy to get a cheap laugh. But seriously, what are your competitors doing to get the edge on you? Is there something to be learned?

WHAT IS IT THAT MAKES YOU STAND OUT?

What makes you great for your clients? What differentiates you?

Feature I offer
Benefits to client……. And Importance



















Having taken a look at this, the question arises are you letting these facts be known? It’s all very well to have an edge, but you must also communicate this to your audiences. And keep doing so.

For example, one of the Airways has done a lot to improve its service over the last few years. Every employee goes through a programme called “putting people first”, and the results show. I had occasion to complain about some confused boarding instructions that were given to me at Airport terminal a while ago. The passenger agent told me to go to one gate, and the departure display listed another gate. The agent was wrong, the display system was right. I almost missed my flight. So I asked for a comment form on the aircraft, and filled out a brief outline of the problem. I handed it to the flight attendant at the other end. A week later, I received a personal letter, from customer service, apologizing for the mix –up and assuring me that the matter was being attended to. Three months later, I received another letter, asking me if I had had the chance to try them again and see for myself if matters had improved. They offered me a voucher good for Rs. 5000/- off my next ticket. It’s the constant attention to this kind of detail, the feeling that I am important to them, the sense of care being taken, that makes for good sentiments and a competitive edge.

WHAT SHOULD BE YOUR LOGO?

A good logo should state a benefit and be relevant to the brand. You should be able to ask for the brand by using the logo.

A poor slogo/logo may not work for various reasons – usually because the line sounds like the brand manager talking to his peers. Or because the line is simply meaningless or irrelevant. Who cares? Does this mean I should use it?

BE A SPECIALIST

If you are a specialist in whatever you do, you can offer value added benefits and price your products and services accordingly. If you are generic, you can only compete on price and delivery. Your credibility is much better if you have some uniqueness that differentiates you from your competitors.

We are surrounded by niche marketing. A few years ago a large retailing organization, The Top Dream Group System, took all the departments that had to with servicing their shops and offices – like stationery, printing, office furnishings, store fixtures and so on – and rolled them together in to a firm called business essentials. By consolidating these activities, which had been run variously by all the different retailing subsidiaries, into one cohesive organization, they were able to put together a very efficient service that would let the stores get back to their real job of retailing, and provide big economies of scale. Then they made business essentials into supplier for other retailers and high street outlets, such as building societies and estate agencies. On their brochure are these words:

The successful company of the 2000s will target its recourses on its core business while contracting – out the distraction of peripheral activity to professional external specialists.

Companies are getting leaner all the time. They are outsourcing more and more, this means that organizations that can be perceived to replace the now non – existent unit, department or division can find a ready market for their services.

One phone hand set company near Delhi, did away with its shipping department and invited speed express to come in and run it as one of their branches. Many large organizations contract out their catering. Offices have people who come in and water their plants on a regular basis. Many companies have their car fleets managed by an outside agency. Some big firms have a brand-name travel agency occupying space on the 14th floor to serve all their travel needs.

All these outsource are specialists. They do one thing or series of things, they re expert at what they do, and they have understandable pricing structure.
What does this say to you? Are you specialist? Do you call yourself a specialist? Could you?

Above instances shows how important is Quality, Product, Communication, Services and Customer satisfaction. This is enough to retain brand status, Market share, and Profit margin of any organization to become a successful company.

Download or see a demo of a sample format of Project Report of a salesperson below. This format is easy to fill up all required datas, information, forecasting and projected values and achievements of customer and make you to comfortable to report your management periodically:

Jul 9, 2016

KEY RESPONSIBILITY OF A SALESPERSON


BE TRUSTFUL AND STRONG BELIEF ABLE PERSON:

RECOGNIZE CUSTOMERS WANT TO DO BUSINESS WITH YOU THEY CAN TRUST AND KEEP FAITH.

When trust and faith is the basics of the company, it’s easy to identify. Trust, faith and sinceeraty defined, is assured dependence on the character, ability, strength and spirit, and truth of a business.

BE FRANK AND OPEN:


For steady improvement and rapid growth of a Company, the Team leader must be open to new challenges and ideas. Getting advice, opinions and feedback from both senior level and junior level, Senior leader and team members and as a result of this your compny will grow steadly and reaches its ambitions beyond its limits.

MEET COMMITMENTS AND DEADLINES:


Regardless of the situations, does everything in your power to gain the trust of past key accounts or trusted customers, particularly if something has gone wrong way. Recovering those lost businesses by honoring and meeting all commitments and obligations.

MAINTAIN PROPER DOCUMENTS:

Re-check all required and necessery tools and equipments related to your official works including sales promotional activities, seminars, surveys,and key business strategies making sure they are clear and uptodate, and professional. Most important, make sure that they are not misleading and discouraging at any cost.

ACTIVELY PARTICIPATING IN COMPANY'S EVENTS:

Remain involved in your companies events and activities, thereby exhibit your skills and strategy that you are also held responsible for current event success and glory. In other words, stay involved.

MAINTAIN ACCOUNTS, REPORTS AND TARGETTED PROJECTS:

It is very important that you must actively involve in ditributors, dealers, or key accounts accounting and record keeping files, updating day to day their activities not only in the interest of the company, but as a resource for any “controversial” activities. Perfect control over accounting and record keeping and tracking allows you to end any uncertain issues or activities promptly.

BE RESPECTFUL:

Treat others with the utmost of respect is a successful highway in your life. Regardless of issues, positions, titles, ages, countries or other types of variations, always treat others with professional respect and courtesy.

I always suggest you to participate in all Company social activities, Forum and event conversation and sharing information, , such as sharing application histories, project histories etc which are strong tools to enhance our business and earning also. This is very useful tips to increase your business potential as well.

These six top tips make you perfect and keep you well disciplined and away from stress and worries.

Keep strong and consistent sincere follow ups on focused goals with challenging deadlines:

Always set a goal. When you achieved it, reward yourself and your team members, and then re-set an another higher goal. This should be bifercated into monthly and even weekly or daily goals to ensure you are on safer side and on right track. As you enter end of the month, now is the time to come back on your previous 4 week’s performance, make any adjustments you need for the 4th week and from there start planning your next month. Make sure they are extremely specific goals or targets with challenging yet attainable deadlines. Push yourself and your business team members into the best year yet.

Set goal for Monthly/Quarterly Order.

Motivate your team periodically.

Focus on Big Order and Key Account.

Send Team Mails/Group Mails regularly to your team members.

Use Power/Marketing Tools.

Participate in Dealer’s/Company activities.

Establish Market for New products in your area.

Give suggestions to Supervisor/Managers.

Take advantage of Marketing Aids and Methods.

Participate in Trade Exhibitions.

Read and understand news of your Company.

Follow the Rules and Regulations of Company.

WORK DAILY AND MAKE IT A HABIT:

I am sure that you might have heard that saying "Action speaks louder than words" Yes! It is very true and acceptable facts in business. Taking strong and immediate action will force you to move into the direction of your goals or business target. Such successful business people map out their goals or target, and then once they have rectified, they take immediate and strong action to start accomplishing those goals or targets. (Set Goal for Monthly Order and Monthly Forecast)

MAINTAIN A DAILY A TO-DO LIST:

Most successful Salesperson has a prioritized list of "to-do" that they need to make sure is complete or is being checked off daily. Now this can be delegated and reported back to them or it can be a collaborated team effort. However, they organize their to do lists every day and check the to do's off as they get accomplished.

You can do this in the morning before you get to work or you can do this at the end of your day planning for the next day. Do whatever works best for you and your schedule BUT DO IT. Are you tracking your daily to do's? How are you monitoring what is getting done vs. what is not getting done? Are they prioritized by most important tasks to least? (Daily/Weekly/Monthly Action points)

READ 30+ MINUTES EVERYDAY (Learning while you Earning):

Successful Salespersons are almost possessed with learning new things. You should have a deep burning desire to better yourself and your business. It doesn't have to always be about your company business. In fact it can be about personal development, E-mail marketing, digital marketing, New Products Marketing, leadership qualities, Company Forum, Leadership and responsibilities, Bloggging and sharing, spirituality, or anything you like. These activities make you to focus more on your business.

MEASURE &TRACK THE PROGRESS:

Successful Salesperson/team leader constantly measure and keep track their progress and deadlines. You can't fix anything that is not measured simply because you don't know it’s broke. There is that saying "If it’s not broke then doesn’t try to fix it." Well how do you know if a process or system is broken when you are not tracking results or progress of that process or system? (Frequent monitoring on distributors or their salespersons/team members)

START WHAT THEY FINISH:

Successful Salesperson always finishes what they started. Being persistent in finishing what you started. Having the strong positive mental attitude to keep you moving forward. Constantly keeping TO-DO List while checking them off, by filling up into movers, and score board will help you stay on track and finish what you have set out to accomplish.

YOUR MAIN GOAL:

Set Goal. It should go without saying but each Sales Person needs to have specific result oriented goals. The intricate balance between having a goal or target that is too high or too low is a key factor in determining the success or failure of a Company’s business planning. Focus more on what is achievable with reasonable effort. Be sure to create a commission program that rewards achievement and additional benefits among your team. It is essential need of reaching our goal within a specific period of time.

BUSINESS POTENTIAL:

Tapping untapped areas. The point is simple, look at the territories and regulate the areas that have the best opportunity to succeed. In fact it is not unusual to set planned allocations or shares by geography. For example, this territory should produce x revenue and an other geography should produce a certain revenue stream. Then assign retailer/dealer to the geography and they adopt the shares/target that is attached. This is good and it works quite well if you do your homework upfront.

You need to assign a logical target based on your experience, practical knowledge of that territory and fact.

YOUR BUSINESS TARGET:

There are many ways to establish allocations. Territorywise, existing product wise, new product wise, category wise, salesman wise and requirement of the end users etc. You will have to select a method or methods and adhere to it. Be logical, practical, and assign targets that can be achieved.

PLANNING/MEETING/REVIEW:

Target/Goal should actually be set on month wise, and at a minimum quarterly basis. Depending upon what you sell your company products, it is critical to monitor each and every area sometimes but you better to meet with your team every two week by local representative and E mail, Group mail and discuss what they are doing to reach their Performance. This practice will save you a lot of worries at the month end. Review each sales progress including product, product samples, sales promotional activities, presentations, seminars and plant surveys and business revenues.

TOOLS:

Use all available tools and case histories in your company, and see then you find a clear path to success. Train your sales team with supporting tools of company and products. If you fail in any of these areas, it will negatively affect the opportunity to achieve their performance bonus, incentive and much more. The sales strategies are designed to help you discover potential applications/sales leads/ new buyers and get good projects on your work list, close the sale and keep the customer. Make it a personal goal to understand and master these sales strategies.

DO IN-DEPTH SELLING AT KEY ACCOUNTS:

Use your distributor sales person regularly. They know the accounts and you are expert in selling technology and selling techniques.Short seminars are used to unearth applications.

A plant visit gives you more applications and more business leads.

SHORT SEMINARS ARE A GROUP SELLING STRATEGY:

Another group selling activity is a combined short seminars inviting all department heads and giving presentation.Plan and schedule two money making sales call a day. Make one face to face sales call in the morning and one in the afternoon.

Sell at the top, work at the bottom. Call on decision makers to get the sale, and work with the users to keep the sale.Sell at the top with purchase decision maker.

Develop an Investment Return Analysis for major projects showing the quantified value of your products.Maintain a separate file for key and major projects on key accounts.

This is a written document that details and quantifies all the service and benefits savings a customer get from you.

TEAM SELLING:

You and your supervisor, you and a service representative and a specialist should be used in high potential accounts.

Discuss and ask purchasing authority to specify their preferred supplier.

Provide speedy follow up.

Always Show, Tell Involve and Commit. This step is already mentioned in sales call.

Identify the decision makers early.

Determinedly and persistently stay close to the decision makers.

Knowing more about the job than the customer.

Knowing your competitors disadvantage and selling unique companies point of difference to create an advantage.

Consistently call on customers and probe for their needs.

Consistently follow up on your promises and customer requests.

Presenting the breadth of your company’s products line and technology.

Always suggesting the highest quality products for appropriate application.

Establishing early your experience, your credentials, and that you will be there after the sale made to ensure successful production runs.

HANDLING OBJECTIONS:

Basic Principles for Handling Objections

Listen carefully and listen carefully and focus on listening

No sales are made unless you sort out all objections and keep him satisfy.

Handling objection starts before the call during pre-call planning.

Probe for objections.

Treat sincere objections as buying signals.

Consider customer objections as customer objectives.

Always try to close the sale after successfully satisfying an objection.

Use L-A-C chart i.e. Listen carefully, Ask questions, Acknowledge, Apologize and Assure.

UNDERSTANDING OBJECTIONS

There will be no sale- the customer won’t buy- if there are lingering, unhandled objections. Objections are real buying signals. Customer show interest and concern. All objections must be sorted out by the salesperson and answered to the satisfaction of the buyer. Most experienced sales people say that the effective salesperson discusses several objections during each sales call, but the ineffective salesperson rarely discusses during the sales call. (Ineffective salespersons are subconsciously skilled at diverting the conversation away from closing opportunities. This protects their ego from dealing with rejection)

Sincere buyers have sincere concerns. The effective salesperson encourages objections because he knows his products benefits will overcome the customer’s fears of making mistake.

An important technique in handling objections is to consider the answer to the objection to be the customer objective. The salesperson helps the customer turn objections into objectives. For example, if the customer raise objection about your price you might respond by asking, ‘ then your objective is to get the best value for your investment?’ Consequently, when the salesperson meets the customer’s objectives, he is filling needs, and moving toward a purchase commitment.

Handling objection starts before the sales call. It starts with the precall planning. When planning a sales call you must list all the objections you expect to hear. You must plan how you are going to deal with them.

The best way to handle the most difficult objections is to introduce them.

Before the customer does. You disarm with candor. Bring up his objections, in the form of a carefully worded question, to take control of that objection.

The effective salesperson brings up the tough objections, and lays in wait for the easy objections. The ineffective salesperson conversely avoid the tough objections, and tells the customer about the entire product have great features.

When the customer brings up an easy objection, the good salesperson includes in his answer the question. ‘Is that important to you?’ If it is important, the salesperson explains its benefits and immediately asks for a commitment.

You must probe for complete understanding of each objection. Do not assume you know what the customer is really thinking. Keep peeling the objectives onion. For example, if the customer says ‘your price is too high! What do you know? You do not know how high! Ask ‘What do you mean’. Get clarification. If you see customer frowning, showing indifference, or any negative signals, stop your presentation. Ask the customer. Mr. John, it is obvious that something I’m saying is bothering you. What is it? Then wait and listen.

After answering an objection, always try to close on your sales call objective. Do not continue with your presentation until you have attempted to get a commitment. For example, if you believe you have successfully answered an objection, you should proceed as follows:

‘Mr. John, does that satisfy your concern?’(Or is that satisfactory to you?’ ‘Does that meet your objective?’

If the answer is ‘yes’, you should attempt to close the sale.

If you feel that this was the customer’s most important concern, ask him,

‘How do you want to proceed?

‘Where do we go from here?’

‘Let’s get started OK?’.

THE L-A-C CHART:

To meet a customer’s objective, i.e., to handle his objections, requires excellent listening and questioning skills. The L-A-C System is built on the concepts of listening, Asking and getting commitments. L stands for Listening. A is for Acknowledging, Apologizing, Assuring and Asking questions. C is for Closing or getting a Commitment to an action that leads directly to a close.

L-A-C guidelines.

Listen to the objection.

Agree with the customer’s concern.

Ask an objection to objective question.

Listen to his response.

Ask more question to clarify.

Apologize for not giving enough information. Assure him with proof, testimonials etc.

Ask for agreement. Listen.

Close or Commit. Ask a closing question.

USING L-A-C FOR HANDLING OBJECTIONS:

Listen. Listen carefully to the customer’s concern. Give him your full attention. Take notes whenever possible. This shows your concern for his concern. Do not interrupt, even if you have heard this objection many times. Let him finish. Then keep mum.

ACKNOWLEDGE:

Acknowledge his concern. If you can do it sincerely, flatter his concern with honestly. Remember, it is important to the new customer.

ASK AN OBJECTION TO OBJECTIVE QUESTION:

Restate - not repeat--- his objection and do it in the form of a question. This is to help of you clarify, understand, and expand his objection. It also lets the salesperson redirect the thrust of the objection so that it can be handled with one of the product’s benefits.

LISTEN:

Listen very carefully.

ASK MORE QUESTIONS:

This is the spot to ask more questions to get clarification of the objection and the situation.

APOLOGIZE & ASSURE:

Assume the blame for not doing a good job explains the products benefits. Apologize for not being clearer or for not giving enough information…do not say,’ What is it you don’t understand?’ Rather say, ‘That’s a good question. What I forgot to tell you was…

This can be a good time to use the “feel”, “felt”, “found”, and technique. This is also an excellent spot to use third party testimonials.

ASK FOR AGREEMENT:

After you assure the customer, ask if he is not comfortable, has any more questions and agrees with the values of your benefits.

LISTEN:

Listen for agreement. If there is assignment goes to next step and close or commit. If there is hesitancy, or another objection go back to acknowledge.

CLOSE OR COMMIT QUESTION:

If the customer shows agreement, the salesperson congratulates the decision, like ‘Great’. He then asks a closing question to get the sale. If timely or he poses a trial/demo close to get some positive confirmation. Often this point, customer in fact, 25% of the time will self close. This is called the customer close.

Never continue your presentation after you have answered an objection until you have tried a close.












































































Jul 7, 2016

POSITIVE INFLUNCES OF SALE

POSITIVE INFLUNCES OF SALE

HOW THE SALESPERSON POSITIVELY INFLUENCES THE SALE?

Ability to sell first.

Taking the long view and controlling the account, and thereby, the order throughout the entire project development and decision process.

Identify the decision makers early.

Determinedly and persistently stay close to the decision makers.

Developing rapport and relationship with all the decision makers, influencers and all the concerned departments.

Demonstrating you know what the customer needs and wants.

Knowing more about the job than the customer.

WHAT STRONG SALES PEOPLE DO?

They sell more. This is so obvious it often missed or forgotten. Sales people either get the order or they don’t. Winning sales people get the orders more often than not. They do not need or use any good, legitimate, real, touching offered to explain poor performance.

They listen more than talk. They discipline themselves to be quiet.

They ask questions more than they tell.

They only call on qualified buyers.

They only call on decision makers. They do not deliberately or unconsciously, sell at lower levels where decisions are not made, and where rejections usually do not takes place. They build in-depth account relationships particularly at the highest possible levels in the company.

They go for substantial closes and high potential development accounts. And they know that the selling process is the same regardless of the size of the sale..

They make more quality sales calls than their colleagues. (see the sales call). They may not make more sales calls, but they make more quality sales calls. It is rare that the great salespersons makes a call on someone who is not qualified decision maker.

They have a pre-planned written sales objective for every sales call.

They have pre-planned written questions prepared for every sales call.

They practice selling. They practice asking questions, smiling, answering objections and everything else. Only 5% of sales people practice.

They sell before business hours, during lunch and on Saturday afternoons….always with appointments.

They set monthly, weekly and daily goals. They set their sales goal based on annual income annual target goals. They also set quotas for activities that leads t to sales, such as prospecting.

They prepare a monthly sales plan that details the target account, decision makers, and precise sales objectives.

They spend more time in planning their sales calls than they do actually selling. It is not unusual for a great salesperson to spend one hour planning a 15 minute sales call.

They plan their work, and work their plan.

They always ask for something on every sales call. They either ask for order , or they ask for a commitment for something that will lead to an order. Note: 90% of sales people never ask for an order and never try for a commitment.

They sell benefits not products, features or technology. They sell cost reduction, not particular component. They sell holes not drills. They constantly work on improving their inventory of benefits for each of their products.

They are always listening to tapes on selling, reading books on selling, going to seminars and comparing notes with other good sales people.

The winning salespeople do not stay in the office. Their office is their car: their desk is their briefcase.

Effective sales people don’t play to the home office. They don’t do the marketing department's job, and they don’t send lot of memos. They just sell.

SALES PEOPLE DON’T SELL WHY?

An irony of selling is that the act of closing the sale is easier than many sales people think. Understanding that closing is easier than is generally thought is the first step in becoming a better closer … to improve one’s batting average.

Understanding the various reasons why salespeople don’t close is also a prerequisite to improvement. What we understand we can fix. Each of the following barriers to closing can be overcome with proper training, correct communication and good attitude. Following are the few common examples that sales people do.

Not asking for the order: - Salespeople may not know how to ask, they may be timid, or feel it is unworthy to them to ask.

Not listening: Talking too much.

FEAR OF REJECTION:

Many salespeople hate rejection. No one likes to here ‘NO’. But fear of rejection is normal. Knowing that you and every other sales person experiences this feeling, is psychologically helpful. It doesn’t matter if you here fear of rejection. You still have to ask.

FEAR OF BUYER CRITICISM:

So what if you fear a buyer’s criticism. Ask anyway.

NOT PROBING FOR OBJECTIONS:

If you do not uncover and handle all true hidden objections, you will not close. When the great salesperson sees the customer frowning, with arms folded, he stops. The salesperson stops his presentation and says: I can see that something is bothering you. What is it?

Not knowing how to close?

Not knowing how to build agreements during the sales call.

SEE CLOSING AS HAPPENING AT THE END OF THE SALES CALL:

You should attempt to close after handling any important objection regardless of when it occurs during the sales call. Some time a customer has done prior investigation and asks his most important question early. If satisfactorily answered, it is important to ask, ‘If that answers your question, how would we like to proceed?’

See customer hesitation as a negative: - Some salespeople ask a question, and cannot wait for the customer to respond. They think the customer has misgivings, and they verbally jump back in. The key is to wait, let the customer think, and listen to his response.

Can’t handle objections.

Not truly believing in the product.

Not truly believing in the price of the product: - Salespeople have to first learn how and how much their products benefits their customers before they can skillfully and consistently sell.

Not able to recognize buy signals.

Not knowing how to keep the account closed.








































































































































Jul 4, 2016

CUSTOMER SERVICE VALUE FILE

CUSTOMER SERVICE VALUE FILE

A customer service value file is a detailed summary of all that we provide our customers in addition to high quality products. Much of the value added service we give our customers is not apparent and goes unrecognized.

The purpose of the customer service value file is to make our customers aware of the comprehensive investment we make on their behalf, & to help quantify that value.

In a professional fashion the CSVF presents an accurate economic rationale for doing business with our company. It endorses and supports a partnership relation with our customer, and it reinforces their decision to buy from us.

There are other important reasons to use a CSVF; they educate purchasing about what is happening engineering. They help us maintain our position and history with a customer. This overcomes the loss of relationships caused by persona turnover in purchasing.

A CSVF makes our customers look good, and is very important to them when they make their annual purchasing plan presentations. Importantly, it educates our sales people about the tremendous value of service the customers get from our company.

There are many things we do for a customer that they don’t have to do themselves, thereby saving their money. These have a dollar value. Additionally, we do things that have a significant dollar return value. This dollar potential goes into a customer service value file.

A CSVF should be developed for each major customer, and formally presented at least once in a year. It is a good idea to routinely update the file. It should be constructed with our key customer contacts, as it is they who will also benefit.

Our customer wants this kind of documentation. Importantly it’s a powerful sales tool and clearly differentiates us from our competition.

CUSTOMER SERVICE VALUE FILE WORKSHEET

Following are the key services that we provide to customers and the so provided service must be documented and presented to the customer. For instance:

TRAINING

Training to the customer.

Training videos.

Customizes seminars.

ENGINEERING

Applications engineering.

Production engineering.

Engineering specifications writing.

Production line service.

Warrant problem evaluation.

Technical center expert consultation.

Technical center- parts testing.

Technical center research.

Industry technical papers.

Software technology service.

INVENTORY MANAGEMENT

Availability of distributor inventory.

Worldwide availability.

Product samples. (for evaluation)

Company’s technical data sheets.

EQUIPMENT

Regular equipment service

General repair service

Free trial use of equipment.

It should be taken care that the CSVF must be accurate and realistic. This leads to better customer relation and reputation of the business. It must be maintained by each salesperson and also updated regularly.

You can have a look at the business you are doing and observe where it is coming from. You can do this sales volume easily and systematically by using your software using your customer service value file periodically, and if you have sophisticated enough required records, by profitability. Most industries and other selling units find that 80 percent of their business comes from 20 percent of their customers. Naturally, it follows that, 80 percent of their customers give them 20 per cent of their business. And yet, all too often, they find they spend most of their time dealing with the vast array of customers who give them the least amount of business. This is called over servicing. Of course, small customers can be grown in to large ones, and you should concentrate on the high-potential ones. But spending a lot of time and energy on people who gives very low income on return is insufficient, and may be causing sum amounts of unhappiness with the big clients.

If you see all different ranges of products, analyze your sales time for each type or category while considering the revenues produced. Then allocate your time in the most rewarding area. Have you ever looked at your own selling cycle? What are the events that have to take place before the customer gets goods or service and you get the money? Some transactions are immediate, such as buying an evening news paper from a street vendor on your way home each night. Others are purchases requiring a lot of consideration- buying a new car, house, flat or cell phone for example. The news paper takes a few seconds and is mostly a reflex action. The second might take weeks or months.

The longer the selling cycle, more the opportunity to lose the deal. In house purchase, you could see the following types of event taking place, with plenty of intrusions possible that could affect the transaction.

Decision or need to move and obtain new house.

Identification of area(s) to target for new house.

Establishment of price range.

Definitions of requirements.

Selection of real estate agent(s)

Review of possible candidates.

Selection of shortlist.

Comparison of options like school, shopping, commuting, and property attributes.

Final selection, price offer and negotiations

Agreement reached, Property inspection, Need to obtain a mortgage – interest rate activity.

Need to obtain life insurance- medical examination, need for secondary financing, ability of buyer or seller to complete dependent transaction and legal & title considerations.

Need for refurbishment/repairs etc and contract exchange.

Look at how many times there could be an event that affects the outcome. Look at all the different opportunities to cause a change of mind. Now consider your own business activity. What is your business cycle like? What are the opportunities to touch the customer before, during after the purchase? If you have not done it before do it now. This is a good tool to evaluate your own business selling cycle on different customer at various segments. Practically this can be done with proper recording and maintaining customer service value file periodically. You can also easily rank your customers by sales, service provided, and your selling time Vs revenues. Concluding, you can clarify your selling cycle with time and revenues. So it is very necessary to maintain Customer Service File so as to track selling cycle of your business activities regularly.