Master's program in sales management strategy final
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Master's program in sales management strategy final
- 1. Master’s Program in Sales Management STRATEGY AND ALIGNMENT
- 2. Nick’s Bio - Highlights Career: ComputerLand Canada ◦ 8 Years in Sales and Sales Management ◦ Director of Marketing Softchoice Corporation ◦ VP of Sales ◦ VP of Marketing ◦ SVP of HR ◦ SVP of Business Development CultureByBrand Personal: Volunteering ◦ Led teams to Ghana, Rwanda, Bali, Sri Lanka, Kenya, Uganda and Guatemala ◦ Board Member for The Strongest Oak Fitness ◦ Master’s Swim Club member for 22 years ◦ Club President Married with one daughter
- 3. Agenda Context Corporate Strategy Fundamentals The Importance of Culture in Differentiation Aligning Marketing Strategy and Sales Landing Strategy in Value Propositions Elements of Sales Strategy Managing Leading Indicators Conclusion
- 4. Two ways to drive company financials: Decrease Costs Increase Revenue
- 6. What Challenges are you Facing Today? Internally and Externally
- 7. Corporat e Strategy IT IS ABOUT WINNING NOT COMPETING
- 8. Do you have a Strategy? Are you growing faster than your competition?
- 9. Strategy Differentiation Focus (Choices) Value-Based Positioning Alignment Operational Excellence Tactics A Budget Product Strategy
- 10. Examples Dell (circa 1990) ◦ Cut out the Middleman ◦ Low Cost ◦ Just in Time Manufacturing Apple ◦ Beautiful design ◦ Revamp ecosystems ◦ Fun, Utility Tim Horton’s ◦ Soup and Sandwiches ◦ Always Fresh coffee ◦ Homestyle lunches
- 11. What is your Strategy? What is unique about what you offer? Is there a unique focus that your company has? Are your resources and processes aligned to enable your strategy?
- 12. Strategy Canvas
- 13. Strategy Canvas
- 15. Time to Practice (strategycanvas.org) Pick one of your companies Inform the Group What do you do? Who are your customers? What makes you different Create the Factors of Competition for your industry Plot your company on the Strategy Canvas Plot at least one competitor Pick a presenter Time: 45 minutes
- 16. Groups Group 1 Group 2 Group 3 Group 4 Patrick Graham Kristen Randall Cheryl Rose David Grinstead Beth Gibbs-Bartel Francois Bosman Patti Anderson Marc Blanchette John Connors Shaun Furneaux Stephen Miller Carolina Suarez-Maslanky Craig Gleason Anthony Cianciotta John Cassidy
- 17. What did we learn? Is your company differentiated?
- 18. Categories of Value What We Offer What Our Competitors Offer What a Customer Wants A C B D E Airline Example: A. Safety Route Selection Schedule options B. Alliance Partners C. Friendly Service Speed D. Frequent Flier Miles Seat Selection E. Car Rental Discounts
- 19. Activity Map (Alignment of all Resources) How you do it differentiates you!
- 20. Four Actions Framework Break the Trade-off Between Low Cost and Differentiation Eliminate Create Raise Reduce Which Factors should be reduced well below the Industry’s standard? Which Factors should be created that the industry Has never offered? Which Factors that the industry has long competed on should be eliminated? Which Factors should be raised Well above the Industry’s standard? New Value Curve
- 21. Four Actions Framework (Southwest Airlines) Break the Trade-off Between Low Cost and Differentiation Eliminate Create Raise Reduce Which Factors should be reduced well below the Industry’s standard? Which Factors should be created that the industry Has never offered? Which Factors that the industry has long competed on should be eliminated? Which Factors should be raised Well above the Industry’s standard? New Value Curve Speed Friendly Service Seat Selection, Lounges, Meals, Frequent Flyer
- 22. Strategy AND Execution 95% of employees cannot articulate their company’s strategy 2/3 of IT and HR initiatives do not support corporate strategy Strategy is not cascaded to Marketing, Sales, etc. Differentiated Strategy ExecutionC M
- 23. Culture
- 25. Values Drive Culture Values Behaviours Culture Brand Me We Internal External
- 26. Example – Zappos
- 27. What is your Culture? Is it Unique? What are your Company’s Values? What Behaviours do you manage? When Sales People are destructive to your culture what do you do?
- 28. Group Work (New Groups of 5) Step 1: Review the Values and Culture of your key competitor ◦ Careers section of their website or About Us Step 2: Identify where you sound the same and where you sound different Step 3: Share with your team how your culture seems unique and different Step 4: Get feedback from the team on making this more VIVID
- 29. What did we learn? How does your culture help you to differentiate?
- 30. Marketin g Strategy TURNING CORPORATE STRATEGY INTO ACTION
- 31. Marketing What is the Role of Marketing? What is the Role of Marketing in your company? Your company has a finite amount of $$ that it is able to spend on customer acquisition ◦ How much should be spent on marketing? ◦ How much should be spent on sales? ◦ What is the optimal mix for your industry? For your strategy?
- 32. •Revenue Growth •SGA as % or RevenueKPI •Cost of Customer Acquisition •Business MixKPI •Sales % of Plan •Growth Rate •Sales Comp as % of Revenue KPI •Customer Retention •Customer Satisfaction KPI Planning Strategic Plan Marketing Plan Sales Plan Customer Plan Vision Overall Business View 3-5 Year Horizon Financial Goals Company Structure Leverage Investment Market-Centric - 1 Year Horizon What Segments? What Offers? What Competition? Differentiation Marketing Spend Execution-Centric - 1 Year Horizon Territories Coverage Sales Comp Business Mix Biz plan for each market Customer-Based - Quarterly or Annually Customer Value Proposition Growth Goals Objectives
- 33. Marketing Plan Elements Section 1: Market Analysis Section 2: Situation Analysis Section 3: Marketing Strategy Section 4: Implementation Section 5: Financial Summary - Outcomes
- 34. Marketing Strategy What are we Selling? • Products • Services • Mix and Lifecycle • Portfolio Analysis Who do we sell it to? • By Product • By Segment • By Geography • By Channel Value Proposition • Pricing Strategy • Margin Objectives • Angel Customers • Demon Customers How do we Sell it? • Sales Force • Social Media Plan • Website • Advertising
- 36. Psychological Value - Service - The Experience Value Proposition (Creating Value) Technical Value - Better Product - Key Features Economic Value - ROI - Productivity $$
- 37. The Marketplace Are all Customers the Same? Is your Market Diverse?
- 38. Segment Specific Value Props Which slice of the market do you wish to serve?
- 39. Value Propositions At our company we value ______________________________ This means we ______________________________ We seek to help Customers who ______________________________ Unlike our Competitors we ______________________________ Answering these questions: Why should someone purchase your offering? Why should someone purchase your offering instead of your competitors? What is most worthwhile for someone to keep in mind about your offering?
- 40. Exercise - Workshop Same Groups as before and Same Company What are the Functional, Economic and Psychological areas of Value Creation? (where is the primary focus?) Compare Value Proposition areas to Differentiation areas on the Strategy Canvas Are there any key areas of focus? (Customer Segments) Present the re-worked Value Proposition statement for your company 30 minutes Group 1 Group 2 Group 3 Group 4 Patrick Graham Kristen Randall Cheryl Rose David Grinstead Beth Gibbs-Bartel Francois Bosman Patti Anderson Marc Blanchette John Connors Shaun Furneaux Stephen Miller Carolina Suarez-Maslanky Craig Gleason Anthony Cianciotta John Cassidy
- 41. What Did We Learn? How helpful was it to have people who didn't understand your industry asking questions? Can you drive a preference for your company? Is every customer a good customer? What can you apply when you get back?
- 42. Sales Strategy
- 43. What Do We Manage? Sales Management Representatives and Territories Accounts Opportunities Funnels and Forecasts
- 44. Elements of Sales Strategy Value Proposition Customer Segmentation Coverage/ Territories Use of Multiple Sales Channels Sales Competencies Activities for Sales People Sales Management Sales Incentives Efficiency Productivity Winning
- 45. Recommendation 1. Workshop all elements as part of your next fiscal year planning cycle 2. Work in tandem with Marketing 3. Plan changes well in advance
- 48. Examples of Lagging Indicators % of plan Customer Satisfaction On-time Delivery Market Share Win-Loss Ratios Customer Retention Customer Profitability What do these things have in common?
- 50. Examples of Leading Indicators Number of Sales People Trained/Certified Number of prospects identified Number of customer appointments each month Number of Demonstrations completed Number of prospects touched in Seminars Size of the Sales Pipeline
- 51. Sales Cycle Does The Rep know how to sell the product? Do we have any identified suspects? Have we had technical people on site? Have we done a proof of concept? Have we presented an ROI Analysis?
- 52. How about you? “ When we get technical people onsite we win” “ When we do a demo we win” “ When we present ROI cases we win”
- 53. Group Work Break into groups of four Share your leading indicators Discuss how you could measure at least one new leading indicator effectively (Make sure it is Strategically Aligned!!) 20 minutes Group 1 Group 2 Group 3 Group 4 John Cassidy Carolina Suarez-Maslanky Marc Blanchette Kristen Randall Anthony Cianciotta Stephen Miller Patti Anderson David Grinstead Craig Gleason Shaun Furneaux Francois Bosman Cheryl Rose John Connors Beth Gibbs-Bartel Patrick Graham
- 54. What did we learn? How do Leading Indicators help you to execute strategy?
- 55. Glancing Back Context Corporate Strategy Fundamentals The Importance of Culture in Differentiation Aligning Marketing Strategy and Sales Landing Strategy in Value Propositions Elements of Sales Strategy Managing Leading Indicators Conclusion
- 57. © 2 0 1 3 B Y N I C K F O S T E R O N B E H A L F O F S C H U L I C H E X E C U T I V E E D U C A T I O N C E N T R E ( S E E C ) . A L L R I G H T S R E S E R V E D . N O P A R T O F T H I S P U B L I C A T I O N M A Y B E R E P R O D U C E D , S T O R E D I N A R E T R I E V A L S Y S T E M , O R T R A N S M I T T E D I N A N Y F O R M O R B Y A N Y M E A N S , E L E C T R O N I C , M E C H A N I C A L , R E C O R D I N G , P H O T O C O P Y I N G O R O T H E R W I S E , W I T H O U T W R I T T E N P E R M I S S I O N O F T H E C O P Y R I G H T H O L D E R .