Eureka forbes ltd


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Eureka forbes ltd

  1. 1. Eureka Forbes Ltd: Managing the Selling Effort Submitted by Group 4 Chandrachuda Sharma Y – 12P194 Chirag Sachdeva – 12P195 Abhro Gupta – 12P200 Santosh Garbham – 12P229 Venkatesh Vasudev Vellur – 12P238
  2. 2. Problems • Issues with Eurochamps – Eurochamps missing an easy sale – Missing simple cues – Unclean and damaged demo equipment – Responding to customer objections is neglected in training • Possible Reasons: – Improper training from seasoned reps and team leads – This can be due to stringent targets/ lack of time to senior reps – Senior reps have no incentive to train new reps who would encroach on their targets subsequently Task Avg time Target Time per call Demos and selling 18060/month 1 hour 30 mins 15/week 2/day customer contacts 12050/day <2.4mins/c all
  3. 3. Problems • Territory conflicts between seniors and juniors • Possible Reason: – Saturation in territories – Reduced growth opportunities within the organization • High attrition rate Size Attrition %ge Time 0 180 0-6 months 60 66.67 7-12months 37 79.44 13-24 months 32 82.22 Possible reasons: •Data is inadequate to comment on how much of it is due to natural sieving process and how much is avoidable •Due to inadequate support from senior reps •Saturated territories to meet minimum targets like 40 sales per six months
  4. 4. Steps taken by Eureka Forbes • New system “Bettering the best” was introduced • Compensation is dependent on successful completion of various stages of selling • Objectives: • Improving productivity • Increasing daily demos • Enhancing Customer engagement time • Providing a diagnostic tool for HCRC Problems: • Time taken to fill activity report • 2-3 hours of extra paper work • Computer training Pros: • Better training • Better understanding of components of sales • Boosted morale
  5. 5. New system Activity New Target Time allocated Time per call remark points equivalent units Active Door Knock 30 120 4fine 5 600 Appointment for the day 5 120 24too less time 10 300 GAS 1 30 100 Service Request 2 This is not in the salesman's hands 10 300 Demos 3 180 60 this would be insufficient 100 30 Sale: Standard 1 300 10 Sale: High end product 600 5 Reference 1 50 60 FGF 3000 1 Meetings 1 200 15 Commercial Appointment (w/a business entity) 1 100 30
  6. 6. Analysis • The new system gives proportionate weight to various components of sales • Territory wise targets should be set for each component as each territory is different • Time to be dedicated for each component should be considered and some changes should be made as commented in the above table. – Some time component of seasoned reps and leads should be dedicated for training • Seasoned reps and team leaders should get points for every new rep under him who stays beyond six months • Salesmen would start increasing their points by performing easier activities more like cold calling – So, beyond points, ratios like call conversion etc should also be analyzed territory wise and weights should be adjusted accordingly.
  7. 7. Analysis contd…. • There is a high chance that these points would be inflated. – So, a strong code of conduct should be in place to prevent malpractices • A feedback system for seasonal reps and team leads should be there to ensure the quality of training to Eurochamps (i.e. a bottom – up feedback system) • Maintenance of customer database is inculcated in the new system – this would help EFL maintain relation with customers easily even after the reps leave EFL – Help understand the potential and other demographics in each territory • OYBC scheme has a very low attrition rate. So, possible reasons should be explored if it enhances salesforce effectiveness
  8. 8. Thank You