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Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
Credit and Sales Joint Calls
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Credit and Sales Joint Calls

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Information on how credit and sales joint calls can impove your companies' ROI. Information on traveling with sales.

Information on how credit and sales joint calls can impove your companies' ROI. Information on traveling with sales.

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  • 1. ER$ Consulting ServicesIn Collaboration with CMAPresents<br />Traveling with Sales<br />September 22, 2009<br />Webinar<br />Copyright © Eddy A. Sumar 2009<br />
  • 2. ER$ Consulting ServicesIn Collaboration with CMAPresents<br />Credit and Sales Joint Calls:<br />How Can This Improve Your Companies’ ROI<br />
  • 3. Credit and Sales Joint Calls:How Can this Improve Your Companies’ ROI<br />Questions:<br />Are you currently traveling with sales?<br />Does your company allow credit professionals to travel with sales?<br />Do you have a company policy of conducting joint visits to the field with sales?<br />
  • 4. Credit and Sales Joint Calls:How Can this Improve Your Companies’ ROI<br />Agenda:<br />Why should credit personnel go on sales calls?<br />What are the benefits of traveling with sales?<br />How does your attendance ensure success of the call?<br />Who should you meet with and why?<br />Reasons when an in-person meeting is imperative.<br />Why your company needs a policy for conducting joint visits.<br />
  • 5. “Tell me and I&apos;ll forget; <br />show me and I may remember; <br />involve me and I&apos;ll understand.” <br />Chinese Proverb<br />
  • 6. AIM<br />Credit becoming Sales Sensitive<br />Helping Sales to become Credit sensitive<br />Why?<br />This can improve your company ROI<br />
  • 7. Why Should Credit Personnel Go on Sales Calls?<br />It creates a team spirit<br />Engenders cooperation and collaboration<br />Presents a unified front to the customer (Sales &amp; Credit become one)<br />Enhances the chances of closing the deal and making the sale (two or more minds better than one)<br />Helps sales, credit, and customer consider more options<br />Helps credit build a relationship with sales customers<br />
  • 8. Why Should Credit Personnel Go on Sales Calls?<br />Helps credit strengthen and maintain a relationship with sales and customers<br />Allows for fact-finding, information gathering, instructing &amp; training<br />Enhances and facilitates problem-solving<br />An opportunity for customer service &amp; building goodwill and loyalty<br />Facilitates collection<br />Expedites credit decisions<br />
  • 9. Why Should Credit Personnel Go on Sales Calls?<br />Will allow you to employ six honest serving men…<br />
  • 10. Why Should Credit Personnel Go on Sales Calls?<br />Is a NEED not a WANT<br />
  • 11. Why Should Credit Personnel Go on Sales Calls?<br />Nothing replaces the power of direct observation and face-to-face encounters. You can gain so much information from watching people in their actual work environment and capturing the unuttered, non-verbal and unarticulated needs. You see their facial expressions, their gestures and real-time reactions.<br />
  • 12. Why Should Credit Personnel Go on Sales Calls?<br />It is a key vehicle to change the misperceptions about credit<br />
  • 13. Why Should Credit Personnel Go on Sales Calls?<br />It allows credit to learn the language of sales and become involved in the sales process; it also allows sales to learn the language of credit and become involved in the credit process.<br />
  • 14. What are the Benefits of traveling with Sales?<br />Build mutual understanding and engenders empathy<br />Allows credit to walk in the salesman’s shoes<br />Helps increase sales and market share through credit and creative options<br />Expedites cash flow <br />Results in lower bad debt and write-offs<br />Strengthens company image and improves ROI<br />Helps to build partnership and alliances<br />Can facilitate contract and terms negotiations<br />
  • 15. How does your attendance ensure success of the call? <br />It introduces the credit perspective…bringing the expert…presenting as a team<br />It brings new options and alternatives<br />It eliminates distortions and misunderstandings when it comes to credit offerings and process<br />Allows the credit professional to explain the process and ask for the needed requirements [Apps/ FS/ Docs]<br />Allows for first hand observation and assessment without intermediaries<br />Allows credit to meet the decision makers and financial personnel<br />
  • 16. How does your attendance ensure success of the call? <br />By understating the three stages of the call and being prepared<br />
  • 17. Effective Customer VisitsStages<br />Pre-visit<br />The Visit<br />Post-visit<br />
  • 18. Effective Customer VisitsStage One<br />Pre-visit: Preparation stage<br /><ul><li>Gather information on the customer, the issues, the situation, the feelings, etc.
  • 19. Study the information to determine the needs. Get to Knowthe needs, the people (personality type), and the issues
  • 20. Determine the alternatives
  • 21. Set your goal(s) for the visit</li></li></ul><li>Effective Customer VisitsStage Two<br />The Visit: Personal interaction stage<br /><ul><li>Introduce yourself (to as many as possible and meet influencers and decision makers—at all levels)
  • 22. Connect with the person (reconnect on subsequent visitsby taking time to catch up)
  • 23. Listen, listen and listen
  • 24. Define the issues from the customer’s perspective
  • 25. Migrate to their views
  • 26. Understand their needs, position, and attitude
  • 27. Re-define the issues from your perspective: inform, educate, instruct, and incentivize
  • 28. Present alternative solutions
  • 29. Link them to your goal(s)</li></li></ul><li>Effective Customer VisitsStage Three<br />Post-visit: Assurance &amp; Follow-up stage<br /><ul><li>Thank the customer (by phone, e-mail, or letter)
  • 30. Assure the customer of your support &amp; understanding
  • 31. Reconfirm the actions to be taken
  • 32. Follow-up periodically until issue has been closed
  • 33. Reassure customer of your continuous support</li></li></ul><li>Effective Customer VisitsDos and Don’ts<br />Dos<br /><ul><li>Be humble
  • 34. Listen, listen and listen
  • 35. Attack the issues not the person
  • 36. Show a sense of urgency
  • 37. Understand their needs, position, and attitude
  • 38. Put the customer at ease
  • 39. Work as a partner: cooperate and collaborate
  • 40. Be on the side of the customer
  • 41. Be professional
  • 42. Display a can-do-attitude</li></li></ul><li>Effective Customer VisitsDos and Don’ts<br />Don’ts<br /><ul><li>Never argue
  • 43. Never attack the person
  • 44. Never promise what you cannot deliver
  • 45. Never belittle their position
  • 46. Never assume (always Ask)
  • 47. Never say ‘we cannot do that’ or ‘No’ (rather let us see what we can do; search for alternatives)
  • 48. Never say ‘it is the policy’ (rather refer to the contract or the terms and conditions we signed)</li></li></ul><li>Effective Customer Visitsknow the Acronym: V.I.S.I.T<br /><ul><li>Verify, Verify and Verify
  • 49. Inquire, Inspect and Invite cooperation
  • 50. Stimulate action
  • 51. Inspire confidence and Implement
  • 52. Target-oriented and Timely</li></li></ul><li>Customer Orientation<br />High<br />Partnership-oriented<br />Need to forge alliances;<br />must have enthusiasm<br />about benefits; inform<br />educate, understand<br />their needs; need for<br />Joint risk; be proactive<br />Relationship-oriented<br />Slow to decision-making;<br />Cares about feelings;<br />Peacemaker; teamplayer<br />Need for Relationship<br />Information-oriented<br />Need to gather <br />Information; cost-<br />benefits analysis, <br />Charts, graphs, etc.<br />Transaction-oriented<br />Learn about their<br />business; locate needs;<br />Fulfill needs <br />Low<br />Need for Information<br />Classify your Customer<br />High<br />
  • 53. How does your attendance ensure success of the call? <br />Purpose<br />Plan <br />Prepared<br />Presence &amp; Professionalism<br />Promote, Preserve &amp; Perpetuate<br />Promise<br />Perform<br />Patient &amp; Perseverant<br />Passion<br />Prompt<br />
  • 54. Effective Customer VisitsPurpose—Goals<br />Achieve results<br />Strengthen relationships<br />Create loyalty and customer goodwill<br />Create willingness to secure financial statements<br />Facilitate collection and expedite cash flow<br />Keep lines of communication open<br />
  • 55. How does your attendance ensure success of the call? Act like a Salesman<br /><ul><li>Show passion
  • 56. Show commitment to your customer or prospect
  • 57. Be able to mobilize people
  • 58. Create an overarching goal or purpose
  • 59. Look for needs
  • 60. Inspire solutions
  • 61. Demonstrate confidence (in customer, product, service, Co.)
  • 62. Demonstrate care
  • 63. Appeal to the heart as well as to the mind
  • 64. Communicate clearly what is expected
  • 65. Show integrity and humility; listen
  • 66. Let the customers know their progress or behavior</li></li></ul><li>Who Should You Meet With And Why?<br />Decision makers (The Owner, president, CFO, key managers, purchasing managers, accountants)<br />Users of your product and services (deduction issues)<br />Your counter-part<br />Influencers<br />The A/P professional in charge of your account<br />The receptionist<br />
  • 67. Who Should You Meet With And Why?<br />They all have a role in:<br />helping or hindering your getting paid <br />expediting or delaying your cash flow <br />lowering or increasing your bad debt and write-offs<br />affecting your deduction (CM or DM) level<br />influencing your sales revenue and market share<br />improving or deteriorating your ROI<br />
  • 68. Reasons When an In-Person Meeting Is imperative<br />When you are dealing with a key distributor<br />When you are dealing with large credit lines<br />When you are dealing with key negotiations<br />When you are dealing with large collection issues<br />When you are dealing with large deductions<br />When you need to build relationships and goodwill<br />When you need to terminate a key customer<br />When your customer needs you to be present<br />When sales and customers need a creative credit solution and alternative<br />
  • 69. Why Your Company Needs A Policy For Conducting Joint Visits<br />It is best practice<br />It is the right thing to do to improve the company image and improve your ROI<br />It helps to build empathy and strong alliances<br />It is a NEED<br />It helps to change the negative perception of credit<br />It creates a formal venue and takes away guess work and capriciousness<br />It puts upper management seal of approval<br />It legitimizes credit in the field <br />It helps create a budget for credit to visit the field<br />
  • 70. Final thoughts<br /><ul><li>Many customers are delighted to be visited
  • 71. You learn by observing. Observing means going to your customer’s place of business and noting how your product is being used
  • 72. Visiting means seeing how the business is run
  • 73. You can follow your product around
  • 74. You will notice where users have problems
  • 75. You will understand the customer’s goals and strategies
  • 76. You will observe your customer’s behavior</li></li></ul><li>Final thoughts<br /><ul><li>You will get to know your customer and sales force
  • 77. You will learn how they make decisions
  • 78. You will get to feel the pulse of your customer &amp; sales force
  • 79. You will get to see their problems and frustrations up close
  • 80. You will get to identify your customer&apos;s and sales force ‘hidden dissatisfiers’
  • 81. You will get the chance to strengthen your relationship with your customers &amp; your sales force
  • 82. Use it to assess and train both your customer and your sales force on the Cs of credit (Character, Capital, Capacity, Collateral, Conditions, Computers (techno state), &amp; Common sense (gut feeling)</li></li></ul><li>“Knowledge is Power.”<br />“Knowledge is Wealth.”<br />
  • 83. ERS Consulting ServicesEddy Sumar, MBA, CCE, CICE, CEW909-481-9869ealberto@aol.com<br />Thank You!<br />

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