The Sales Manager,Sales Strategies and Methods Mandar Ghanekar SCIT ExMBA 2011
Functions of a Sales Manager ~ The answer may seem quite simple:Drive revenue and meet the Sales Target! But that’s not the only reality ~
Sales Resource Management Identify , Attract, Screen, Interview and Hire the Right Sales Force. Always be on the lookout for better, well qualified people to raise the for the team. Determine the size of the sales force according to the sales strategy. Touch base with the HR Manager to achieve the above9/2/2011 ITSM Assignment - Mandar G.
GOAL setting for the Sales force Set realistic and achievable targets for the sales executives and other sales representatives. Assign the right people to Sales territories Inspire the team to9/2/2011 ITSM Assignment - Mandar G.
Planning, Budgeting & Organizing 1 Consult with the top management of the company and the sales director, and devise sales policies and marketing mix strategies necessary for achieving/exceeding the sales targets. Determine price schedules and discount rates. Confer or consult with department heads to plan advertising services and to secure information on equipment and customer specifications. Advise dealers and distributors on policies and operating procedures to ensure functional effectiveness of business.9/2/2011 ITSM Assignment - Mandar G.
Planning, Budgeting & Organizing 2 Monitor customer preferences to determine focus of sales efforts. Prepare budgets for sales force salaries, commissions, and bonuses; travel expenses; sales materials; training; clerical services; and office rent and utilities Provide timely, accurate, competitive pricing on all completed prospect applications submitted for pricing and approval, while striving to maintain maximum profit margin. Organize and structure the Sales Force9/2/2011 ITSM Assignment - Mandar G.
Control and Evaluation Sets standards of work performance and conduct. Compare the original goals and objectives with the actual accomplishments of the sales force If you can’t measure it you can’t manage it. Conducts 1-on-1 review with all Executives for more effective communication, to understand training and development needs, and to provide insight for the improvement of Executive’s sales and activity performance. Maintains a record system to provide an analysis of performance of sales team by each individual reporting.9/2/2011 ITSM Assignment - Mandar G.
Forecasting Prepare a sales forecast for the top management considering the industry conditions, such as stage of maturity; market conditions and expectations; general business and economic conditions; and the regulatory environment.9/2/2011 ITSM Assignment - Mandar G.
Client Relationship Management KRA - Maintaining and improving relationships with the client through all phases of the sales cycle to ensure high levels of client satisfaction. Resolve customer complaints regarding sales and service.9/2/2011 ITSM Assignment - Mandar G.
Coaching and Mentoring Arrange trainings which emphasize on the product, the company, industry knowledge and personal selling techniques. These trainings act as a value add for improving customer relations, increasing employee morale and boosting sales.9/2/2011 ITSM Assignment - Mandar G.
Motivate the Sales Force Facilitate an environment that maximizes sales productivity. Set example for Account Executives in areas of personal character, commitment, organizational and selling skills, and work habits. Make the individuals feel like they are part of winning team, that their jobs are secure, and that their efforts and contributions to the organization are recognized. Methods of meeting those needs include contests, vacations, and other performance based prizes in addition to self- improvement benefits such as tuition for graduate school9/2/2011 ITSM Assignment - Mandar G.
Represent the Organization Represent the organization in a positive and professional manner in and outside of the organization. Represent company at trade association meetings/conferences/exhibitions to promote products and brand.9/2/2011 ITSM Assignment - Mandar G.
Sales Development Responsible for New Business Development via prospecting, qualifying, selling and closing software solutions / services and products Visit franchised dealers to stimulate interest in establishment or expansion of leasing programs. Confer with potential customers regarding equipment needs and advise customers on types of equipment to purchase. Assess marketing potential of new and existing store locations, considering statistics and expenditures. Prepares action plans for individuals as well as for the team for effective search of sales leads and prospects.9/2/2011 ITSM Assignment - Mandar G.
The "SPIN" technique Identify the SITUATION (need) of the client/company who you are selling. Understand their PROBLEM Allow them to explain the IMPLICATIONS that the company will have if continues with that problem. Next you present your product, being the solution, the phase of NEED TO PAY.9/2/2011 ITSM Assignment - Mandar G.
Most Brains Wins! Principle – “Whoever has access to the most brains, wins!" Launch initiatives to access the collective wisdom of your employees, customers and the broader world. For E.g. One of the first initiatives of Dell’s new CMO was launching IdeaStorm, where customers submit ideas and feedback. A parallel process was launched for the employees. In the first six months, over a half million pieces of feedback have been submitted by customers9/2/2011 ITSM Assignment - Mandar G.
Apple iPOD For the iPod, Apple used no fewer than seven types of innovative sales strategies. They included networking (a novel agreement among music companies to sell their songs online), business model (songs sold for a buck each online), and branding (how cool are those white ear buds and wires?). Consumers loved the ease and feel of the iPod, but it was the simplicity of the iTunes software platform that turned a great MP3 player into a revenue-gushing phenomenon.9/2/2011 ITSM Assignment - Mandar G.
SNAP Selling Simple + iNvaluable + Aligned + Priority SNAP is meant to remind you of the four key elements of getting a busy customer’s attention and winning her business. Keep it Simple: When you make things easy and clear for your customers, theyll change from the status quo. Be iNvaluable: You have to stand out by being the person your customers cant live without. Always Align: To be relevant, make sure youre in synch with your customers objectives, issues, and needs. Raise Priorities: To maintain momentum, keep the most important decisions at the forefront of their mind.9/2/2011 ITSM Assignment - Mandar G.