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web conferencing for small business
Accelerating Your Business Growth
Webinar Series
Presented by:
Guest speakers: Carleto...
About SCORE
2
Douglas S. Cavanaugh
• Successful and experienced
business owners and
executives acting as
volunteers
• Free...
Sales
Purchasing /
Manufacturing
Distribution
Finance
Marketing
Service Delivery
Program Overview
Marketing Your Business
...
By the End of This Workshop, You Will
Learn:
• How to choose effective distribution
channels
• How to evaluate your sales ...
Expanding Your Distribution
Channels
5
Expanding Your Distribution Channels
Understanding Distribution Channels
Distribution channels are how your
product or ser...
Expanding Your Distribution Channels
7
Direct
• Sales Team
• Online
• Catalog
• Storefront
Indirect
• Wholesaler/Distribut...
Expanding Your Distribution Channels:
Discussion
8
Examples of Distribution Channels
What distribution channels are you cu...
Expanding Your Distribution Channels
Channel Choices
As you assess distribution options, consider:
• What are my customers...
Expanding Your Distribution Channels
Customer Needs Influence
Distribution
How do customers expect to buy?
• Customers req...
Expanding Your Distribution Channels
Research Distribution Channels
In addition to your customer needs, consider:
• Compet...
Expanding Your Distribution Channels
Assess Options and Prioritize
• Ease of entry
• Geographic proximity
• Financial goal...
Expanding Your Distribution Channels
Choosing Channel Partners
• Identify potential partners
• Establish partner relations...
Evaluating Your Sales Process
14
Evaluating Your Sales Process
15
Lead Generation
Prospecting
Customer/Client Contact
Negotiating
Closing the Deal
5 Steps ...
Evaluating Your Sales Process: Activity
16
5 Steps to Sales
Using the Sales Process
Assessment worksheet,
write down the m...
Evaluating Your Sales Process
Step 1: Lead Generation
Marketing can generate leads:
• Advertising
• Online (website, searc...
Evaluating Your Sales Process
Step 2: Prospecting
Prospecting reaches out to leads using:
• Phone/cold calls
• Email
• In-...
Evaluating Your Sales Process
Step 3: Contact
• Qualify the prospect
• Set initial meeting
19
David Lomakin
Evaluating Your Sales Process
Step 4: Negotiating
• Know your goals
• Determine customer needs
• Be prepared
• Determine d...
Evaluating Your Sales Process
Step 5: Closing
Tactics for Closing:
• Understanding
• Quality
• Identify significance/value...
Evaluating Your Sales Process:
Discussion
Step 5: Closing
Can anyone share closing challenges that you commonly come acros...
Evaluating Your Sales Process
Customer Service
Acquiring a new customer costs 5 times more
than keeping an existing one*
•...
Your Sales Team
24
Your Sales Team
25
Who Is Your Sales Team?
• You (Owners)
• Existing Staff (performing other functions)
• Your Website (e-...
Your Sales Team
26
1
• Set
measurabl
e goals for
each step
of the sales
process
2
• Know your
ideal target
customer
3
• Me...
Your Sales Team
Match Skills to the Sales Process
• What steps in the sales process are the most important
for your busine...
Your Sales Team
Sales Team Options
• Telemarketing
• Dedicated Sales Team
• Manufacturer's Reps
• Retail Associates
28
Evaluating the Needs of
Your Business
29
Evaluating the Needs of Your Business
Is It Right For You?
Now that we have reviewed sales team options,
think about which...
Evaluating the Needs of Your Business: Activity
Is It Right For You?
Using the Sales Teams
Options Overview,
complete the ...
Motivating Your Sales Team
32
Motivating Your Sales Team
33
1
• Set goals – for business and salespeople
2
• Performance measurements – for sales
3
• Pa...
Motivating Your Sales Team
34
Commission-Only:
 Motivates salespeople
 Paying for results
 May be insufficient for
new ...
Motivating Your Sales Team
Balancing Salary and Commission
Commission can range from 20% to 85% of salary
Factors to consi...
Motivating Your Sales Team
Bonuses
• Additional incentive beyond commission
• Typically paid at year-end
• Graduated level...
Motivating Your Sales Team
Sales Incentives
• Non-monetary
• Contests or compensation
• Set clear goals and rules
• Best f...
Motivating Your Sales Team
Developing Talent
Training and education options:
• Industry associations
• Online courses and ...
Benchmarking Sales
39
Benchmarking Sales
Why Benchmark?
Benchmarking = Comparing
Performance benchmarking vs. Process benchmarking
Benchmark:
1....
Benchmarking Sales
41
Determine
processes/
measures
Gather data Assess data
Adjust
process/goal
s
4 Steps to Benchmarking
Benchmarking Sales
Using Technology to Enhance Sales
Customer Relationship Management (CRM):
• Differs from Contact Manage...
Helpful Resources
43
Helpful Resources
Suggested Contact Management/CRM Software
• Infusionsoft CRM
(www.infusionsoft.com/integrated-contact-ma...
Helpful Resources
Sales Resources
Sales Organizations
• Direct Selling Association (www.dsa.org)
• National Association of...
Review
• Distribution channels are how the end user gets your
product or service.
• There are 5 steps to the sales process...
Keep up the work
and
remember that nothing happens
in a business until you sell
something and
you get an order!
47
Q & A
web conferencing for small business
Presented by:
Accelerating Your Business Growth
Webinar Series
Next in Series:
Smart Financial Management
Wednesday, December 2, 11am Pacific Time
Register at anymeeting.com/webinars
we...
Thank You!
web conferencing for small business
Presented by:
Accelerating Your Business Growth
Webinar Series
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Strategies to Boost Your Sales - from Part 2 of the free webinar series, Accelerating Your Business Growth

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Part 2 of our free webinar series, “Accelerating Your Business Growth” entitled “Strategies to Boost Your Sales”, presented by AnyMeeting together with Comcast Business and SCORE, featured speaker Carleton Smith, the former Vice President of Worldwide Sales and Marketing for Harris Corporation, a Fortune 500 company with worldwide operations. During his forty year business career, Carleton managed turnarounds, acquisitions and mergers, and worldwide sales and marketing for companies and divisions in difficult markets with demanding customers and tough competitors. Carleton has been a volunteer business counselor with SCORE in Austin since 2006.

Carleton's insightful and engaging presentation is designed to help small business owners and marketers learn how to accelerate sales by:

- Expanding your distribution channels,
- Building and motivating your sales team,
- Benchmarking,
- Using a Customer Relationship Management (CRM) system to manage and retain customers.

Get insights and listen to actionable advice as Carleton engages the audience in live Q&A.

Whether you are just starting your business, looking to accelerate your growth or simply want to gain an edge to get your business to the next level, you won’t want to miss out.

Watch the full webinar recording here: http://anymeeting.com/webinars

Be sure to check out the other webinars from this series and sign up for the latest webinar today! http://anymeeting.com/webinars

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Strategies to Boost Your Sales - from Part 2 of the free webinar series, Accelerating Your Business Growth

  1. 1. web conferencing for small business Accelerating Your Business Growth Webinar Series Presented by: Guest speakers: Carleton Smith, SCORE Mentor, Austin Chapter Part 2 of 3: Strategies to Boost Your Sales
  2. 2. About SCORE 2 Douglas S. Cavanaugh • Successful and experienced business owners and executives acting as volunteers • Free mentoring: • One-on-one • E-mail • Seminars and workshops • Resources for small business: www.score.org
  3. 3. Sales Purchasing / Manufacturing Distribution Finance Marketing Service Delivery Program Overview Marketing Your Business Human Resources Customer Service Managing Operations Growing Your Sales Managing Your Time, People and Resources Financial Management
  4. 4. By the End of This Workshop, You Will Learn: • How to choose effective distribution channels • How to evaluate your sales process • Who should be on your sales team • How to motivate your sales team • How benchmarking can boost your sales • How to implement sales and CRM tools 4 Marta E. Maxwell
  5. 5. Expanding Your Distribution Channels 5
  6. 6. Expanding Your Distribution Channels Understanding Distribution Channels Distribution channels are how your product or service gets to the end user. Expanding distribution channels helps grow your business: • Builds brand recognition • Can decrease risk • Enables you to reach more customers • Potential to increase profits 6 Jennie Dundas & Alexis Miesen
  7. 7. Expanding Your Distribution Channels 7 Direct • Sales Team • Online • Catalog • Storefront Indirect • Wholesaler/Distributor/Dealer • Retailer • Affiliates • Value-Added Reseller (VAR) • Consultant • Manufacturer’s Rep Multi-Channel/Hybrid • Combination of Channels Examples of Distribution Channels
  8. 8. Expanding Your Distribution Channels: Discussion 8 Examples of Distribution Channels What distribution channels are you currently using, and what have been the positive and negative aspects of using that method?
  9. 9. Expanding Your Distribution Channels Channel Choices As you assess distribution options, consider: • What are my customers’ needs? • How could your product/service meet those needs? • Who is my ideal customer? • How can I find more of those? 9
  10. 10. Expanding Your Distribution Channels Customer Needs Influence Distribution How do customers expect to buy? • Customers require information/service: In-house sales team • Simple buying process: Online, retail, catalog • Customers buy online: E-commerce, resell to online retailer, affiliates 10 Andrew Dunn
  11. 11. Expanding Your Distribution Channels Research Distribution Channels In addition to your customer needs, consider: • Competitors • Geographic location • SWOT • Barriers to entry • Cost • Pricing/profit • Sales/marketing • Channel conflicts 11
  12. 12. Expanding Your Distribution Channels Assess Options and Prioritize • Ease of entry • Geographic proximity • Financial goals and risks • Estimated sales volume • Competitors’ positions • Management experience • Staffing capabilities 12
  13. 13. Expanding Your Distribution Channels Choosing Channel Partners • Identify potential partners • Establish partner relationship • Set goals • Train partner • Provide sales/marketing support • Minimize partner conflicts 13 Marie Seipenko
  14. 14. Evaluating Your Sales Process 14
  15. 15. Evaluating Your Sales Process 15 Lead Generation Prospecting Customer/Client Contact Negotiating Closing the Deal 5 Steps to Sales Customer service is key throughout the sales process.
  16. 16. Evaluating Your Sales Process: Activity 16 5 Steps to Sales Using the Sales Process Assessment worksheet, write down the methods you are currently using for your strongest and weakest steps Then include some challenges you face for each.
  17. 17. Evaluating Your Sales Process Step 1: Lead Generation Marketing can generate leads: • Advertising • Online (website, search engine optimization, pay-per-click ads) • E-mail • Social media • Client/customer referrals • Trade shows • Direct mail • PR 17 Jennie Dundas & Alexis Miesen
  18. 18. Evaluating Your Sales Process Step 2: Prospecting Prospecting reaches out to leads using: • Phone/cold calls • Email • In-person networking • Social networking • Direct mail • Trade shows • Referrals 18
  19. 19. Evaluating Your Sales Process Step 3: Contact • Qualify the prospect • Set initial meeting 19 David Lomakin
  20. 20. Evaluating Your Sales Process Step 4: Negotiating • Know your goals • Determine customer needs • Be prepared • Determine deal breakers • Create win-win situation • Build relationship 20 Douglas S. Cavanaugh Sr.
  21. 21. Evaluating Your Sales Process Step 5: Closing Tactics for Closing: • Understanding • Quality • Identify significance/value of product • Empathy • Know when to stop Obstacles to Closing: • Price • Not decision-maker • Product/service not needed • Fear • Timing 21
  22. 22. Evaluating Your Sales Process: Discussion Step 5: Closing Can anyone share closing challenges that you commonly come across, and/or closing tactics that have worked? 22
  23. 23. Evaluating Your Sales Process Customer Service Acquiring a new customer costs 5 times more than keeping an existing one* • Follow up • Resolve problems • Build relationships • Use CRM tools (Plaxo, Salesforce, Zoho) to maintain customer history • Get referrals/testimonials • Sell additional products/services • Stay in touch *Source: Gallup 23 Katrina Markoff
  24. 24. Your Sales Team 24
  25. 25. Your Sales Team 25 Who Is Your Sales Team? • You (Owners) • Existing Staff (performing other functions) • Your Website (e-commerce) • Dedicated sales staff • Outside consultants • Others?
  26. 26. Your Sales Team 26 1 • Set measurabl e goals for each step of the sales process 2 • Know your ideal target customer 3 • Measure outcomes constantly and adjust accordingly 4 • Apply best practices techniques to sales process Setting Sales Goals
  27. 27. Your Sales Team Match Skills to the Sales Process • What steps in the sales process are the most important for your business and why? • What skills do your salespeople need to succeed at those steps? 27
  28. 28. Your Sales Team Sales Team Options • Telemarketing • Dedicated Sales Team • Manufacturer's Reps • Retail Associates 28
  29. 29. Evaluating the Needs of Your Business 29
  30. 30. Evaluating the Needs of Your Business Is It Right For You? Now that we have reviewed sales team options, think about which options are right for you. Ask: • Will this help achieve my sales goals? • Will this reach my target customer(s)? • Will I be able to find qualified candidates in my area? • Does this fit my budget? – (Typically 3%-10% after 1-3 years) 30
  31. 31. Evaluating the Needs of Your Business: Activity Is It Right For You? Using the Sales Teams Options Overview, complete the Sales Team Assessment worksheet to determine what will work best for your business. 31
  32. 32. Motivating Your Sales Team 32
  33. 33. Motivating Your Sales Team 33 1 • Set goals – for business and salespeople 2 • Performance measurements – for sales 3 • Payment formula – keep it simple 4 • Minimum base pay – higher for new employees 5 • Rules Creating Your Sales Compensation Plan
  34. 34. Motivating Your Sales Team 34 Commission-Only:  Motivates salespeople  Paying for results  May be insufficient for new salespeople  Can alienate salespeople  Focus on quick sale  Price-slashing  Best for short sales cycle Salary-Only:  Can demotivate salespeople  Eases learning curve for new rep  Creates teamwork  Invested in company goals  Suited for long sales cycle Commission vs. Salary
  35. 35. Motivating Your Sales Team Balancing Salary and Commission Commission can range from 20% to 85% of salary Factors to consider: • Sales cycle • Job duties • Tenure • Experience • Industry standards 35
  36. 36. Motivating Your Sales Team Bonuses • Additional incentive beyond commission • Typically paid at year-end • Graduated levels • Keep it simple • Make it motivating 36
  37. 37. Motivating Your Sales Team Sales Incentives • Non-monetary • Contests or compensation • Set clear goals and rules • Best for short-term results • Make it meaningful 37
  38. 38. Motivating Your Sales Team Developing Talent Training and education options: • Industry associations • Online courses and webinars • In-house training • Model best practices 38 Doug Zell
  39. 39. Benchmarking Sales 39
  40. 40. Benchmarking Sales Why Benchmark? Benchmarking = Comparing Performance benchmarking vs. Process benchmarking Benchmark: 1. Your past history 2. The competition 3. Your industry 40
  41. 41. Benchmarking Sales 41 Determine processes/ measures Gather data Assess data Adjust process/goal s 4 Steps to Benchmarking
  42. 42. Benchmarking Sales Using Technology to Enhance Sales Customer Relationship Management (CRM): • Differs from Contact Management • History of interaction • Share information • Create reports/forecasts • Spot trends • Time management • Consistent sales process Choosing CRM Solutions: Simple and Scalable 42
  43. 43. Helpful Resources 43
  44. 44. Helpful Resources Suggested Contact Management/CRM Software • Infusionsoft CRM (www.infusionsoft.com/integrated-contact-manager) • Intuit QuickBase (http://quickbase.intuit.com) • Oracle CRM OnDemand (www.crmondemand.com) • Plaxo (www.plaxo.com) • Sage CRM Solutions (www.sagecrmsolutions.com) • Salesforce (www.salesforce.com) • SalesNexus (www.salesnexus.com) • Zoho (www.zoho.com/crm) 44
  45. 45. Helpful Resources Sales Resources Sales Organizations • Direct Selling Association (www.dsa.org) • National Association of Sales Professionals(www.nasp.com) • Professional Society for Sales and Marketing Training (www.smt.org/) • Sales and Marketing Professional Association (www.smei.org) • Sales Force Effectiveness Benchmarking Association (http://sfeba.com) • Sales Lead Management Association (www.salesleadmgmtassn.com) Sales Compensation Software • Callidus Software (www.callidussoftware.com) • Makana Solutions (www.makanasolutions.com) • Xactly (http://www.xactlycorp.com) 45
  46. 46. Review • Distribution channels are how the end user gets your product or service. • There are 5 steps to the sales process: lead generation, prospecting, customer/client contact, negotiating, closing the deal. • There are multiple ways to form, motivate and train a sales team, depending on the needs of your business. • Benchmarking sales will allow you to see your progress. 46
  47. 47. Keep up the work and remember that nothing happens in a business until you sell something and you get an order! 47
  48. 48. Q & A web conferencing for small business Presented by: Accelerating Your Business Growth Webinar Series
  49. 49. Next in Series: Smart Financial Management Wednesday, December 2, 11am Pacific Time Register at anymeeting.com/webinars web conferencing for small business Presented by: Accelerating Your Business Growth Webinar Series
  50. 50. Thank You! web conferencing for small business Presented by: Accelerating Your Business Growth Webinar Series

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