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  1. 1. CHAPTER 1 Selling ASAP
  2. 2. Competitive Awards <ul><li>Target Company Marketing Scholarships (Juniors) </li></ul><ul><ul><li>Academics, extra-curricular service </li></ul></ul><ul><ul><li>Resume, Cover Letter </li></ul></ul><ul><ul><li>Deadline April 15 </li></ul></ul><ul><li>Marketing Student of the Year </li></ul><ul><ul><li>Seniors </li></ul></ul><ul><ul><li>Resume, cover letter </li></ul></ul><ul><ul><li>April 15 deadline </li></ul></ul>
  3. 3. Others… <ul><li>http://www.pafcolaboratory.com/ </li></ul><ul><li>Jennifer Mele Contact </li></ul><ul><li>The U.S.G.S., Forest and Rangeland Ecosystem Science Center, Headquarters and Corvallis Research Group </li></ul>
  4. 4. Overview <ul><li>Last Time… </li></ul><ul><ul><li>Introduction Lecture </li></ul></ul><ul><li>Questions on.. </li></ul><ul><ul><li>Syllabus, Schedule? </li></ul></ul><ul><li>Today </li></ul><ul><ul><li>Chapter One: Selling ASAP </li></ul></ul><ul><ul><li>We Will Break 10 minutes early Today for Questions, Waitlist, Drop/Adds, etc. </li></ul></ul>
  5. 5. Introductory Lecture <ul><ul><li>Why Are We Here? </li></ul></ul><ul><ul><li>Required Text and Materials </li></ul></ul><ul><ul><li>Class Format and Schedule </li></ul></ul><ul><ul><li>Our Principles </li></ul></ul><ul><ul><li>Syllabus Details </li></ul></ul>
  6. 6. “ I studied the lives of great men and famous women, and I found that the men and women who got to the top were those who did the jobs they had in hand, with everything they had of energy and enthusiasm and hard work .” Harry S. Truman
  7. 8. Selling ASAP Selling is being viewed today as an Art and a Science , with an emphasis on practicing Agility to enhance Performance
  8. 9. Art and Science Selling involves the salesperson’s unique style (art) of applying a systematic process (science) to understanding customers’ needs and wants and matching the benefits of the salesperson’s product or service to those desires
  9. 10. Agility <ul><li>An agile salesperson is: </li></ul><ul><ul><li>One who is quick to see opportunities </li></ul></ul><ul><ul><li>Clever in shortening sales cycles </li></ul></ul><ul><ul><li>Able to meet customers’ needs faster </li></ul></ul><ul><ul><li>Capable of creating flexible and customer-focused values </li></ul></ul><ul><ul><li>Quick at learning and unlearning </li></ul></ul>
  10. 11. Performance <ul><li>Salespeople must perform </li></ul><ul><li>Sales performance is measured in a multitude of ways </li></ul><ul><li>Selling requires a continuous emphasis on earning and maintaining long-term customer satisfaction…not just making quota </li></ul>
  11. 12. What is Professional Selling? <ul><li>Professional selling is the interpersonal communication process in which a seller uncovers and satisfies the needs and wants of a prospect to the mutual, long-term benefit of both parties </li></ul>
  12. 13. Non-Manipulative Selling <ul><li>Today’s skillful salespeople practice non-manipulative selling </li></ul><ul><li>Only after salespeople and customers reach mutual agreement about value does a sale occur </li></ul>
  13. 14. Building Relationships <ul><li>Satisfied customers repeat their purchases because they are satisfied with the value of the relationship </li></ul><ul><ul><li>Taking care of existing customers reduces sales cycle time and increases efficiency </li></ul></ul>
  14. 15. Thriving in a Highly Competitive Selling Environment <ul><li>Salespeople must do their homework before meeting with prospects </li></ul><ul><ul><li>Study the market </li></ul></ul><ul><ul><li>Study the prospects’ needs </li></ul></ul><ul><ul><li>Put the customer first </li></ul></ul><ul><ul><li>Engage in continuous learning and professional development </li></ul></ul>
  15. 16. Understanding the Customer <ul><li>To motivate the prospect to buy a product or service salespeople must: </li></ul><ul><ul><li>Understand how their prospect’s mind works </li></ul></ul><ul><ul><li>Be able to uncover the prospect’s hidden needs or wants </li></ul></ul>
  16. 17. The Power of Influence <ul><li>The power of influence rests in the skillful salesperson’s ability to: </li></ul><ul><ul><li>Provide continuous value to customers </li></ul></ul><ul><ul><li>Engage in long-term relationships with customers </li></ul></ul><ul><ul><li>Adapt to changing needs and preferences of customers </li></ul></ul>
  17. 18. Apply What You Learn <ul><li>Pay close attention to the way people interact with each other </li></ul><ul><li>Go shopping </li></ul><ul><ul><li>Pay particular attention to the many ways salespeople attempt to persuade you to buy </li></ul></ul><ul><li>Talk to others and listen to their opinions about selling </li></ul>
  18. 19. Components of ASAP <ul><li>Understanding the Sales Environment </li></ul><ul><li>Implementing the Sales Process </li></ul><ul><li>Mastering Sales Agility </li></ul>
  19. 20. Figure 1.1 Timely and Timeless Components of Selling ASAP Preparation Attention Examination Prescription Conviction & Motivation Completion & Partnering Understanding Why Buyers Buy Selling to Major Accounts PART II Implementing the Sales Process ASAP PART III Mastering Sales Agility ASAP Managing Yourself & Your Time Selling Ethically Building Lifetime Value The Changing World of Sales PART I Understanding the Environment ASAP
  20. 21. Figure 1.2 Taking a Lifetime View of Customers <ul><li>Customer </li></ul><ul><ul><li>Age </li></ul></ul><ul><ul><li>Gender </li></ul></ul><ul><ul><li>Buying Styles </li></ul></ul><ul><ul><li>Buying Team </li></ul></ul><ul><ul><li>Segment </li></ul></ul>Product Holdings Contacts Product Use Events Adapted from: Puckey, David (2000), “Modeling Customer Relationships,” Sequent Computer Systems Ltd. Sequent House, Weybridge Business Park, Addlestone Road, Weybridge, KT15, 2UF
  21. 22. Thoughtware <ul><li>Thoughtware represents the thinking process salespeople use as they continuously learn about customers </li></ul><ul><li>Customers are often grouped by type of relationship </li></ul><ul><ul><li>Advantages </li></ul></ul><ul><ul><ul><li>Avoidance of unneeded duplication of effort </li></ul></ul></ul><ul><ul><ul><li>Knowledge of loyalty patterns </li></ul></ul></ul><ul><ul><ul><li>Identification of cross-sell and up-sell opportunities </li></ul></ul></ul><ul><ul><ul><li>Identification of significant events in the life of the customer </li></ul></ul></ul>
  22. 23. Figure 1.3 Where Selling Fits in the Organization Manpower Money Materials Personnel Finance Manufacturing Marketing Sales
  23. 24. All Organizations Perform Selling Activities “ Nothing happens in the economy until someone sells something to someone else.” Arthur H. “Red” Motley
  24. 25. Steps of the Sales Process <ul><li>Preparation </li></ul><ul><li>Attention </li></ul><ul><li>Examination </li></ul><ul><li>Prescription </li></ul><ul><li>Conviction & Motivation </li></ul><ul><li>Completion and Partnering </li></ul>
  25. 26. Figure 1.4 A Customer-Focused Selling Framework Customer Behavior Salesperson Behavior Collaboration Initial Inquiry Time to Respond Sales Call Decision? Thinking Re-Initiate Preparation Attention Examination Prescription Conviction Completion Partnering <ul><li>Promotion </li></ul><ul><li>Web Site </li></ul><ul><li>Personal Visits </li></ul><ul><li>Service </li></ul><ul><li>Salesperson </li></ul><ul><li>Sales Organization </li></ul><ul><li>Promotion </li></ul><ul><li>Web Site </li></ul><ul><li>Engineering </li></ul><ul><li>Finance </li></ul><ul><li>Accounting </li></ul>Motivation
  26. 27. BA 491 Personal Selling Break
  27. 28. “ Over 70% of new marketing graduates start their careers in sales.” Almost 50% of finance majors start in some type of sales career, and a growing number of other business majors (e.g., accounting, management, management information systems) are moving towards beginning their careers in sales.” Dan Weilbaker (2001)
  28. 29. Why Become a Professional Salesperson? <ul><li>Opportunity </li></ul><ul><li>Job Satisfaction </li></ul>
  29. 30. I 3 Rationale <ul><li>I ndependence </li></ul><ul><li>I ncome </li></ul><ul><li>I mpact </li></ul>© 2000 Northwestern Mutual Financial Network
  30. 31. Rewards of Selling <ul><li>Intrinsic rewards </li></ul><ul><ul><li>Include the good feeling one gets from helping a customer solve a problem </li></ul></ul><ul><li>Extrinsic rewards </li></ul><ul><ul><li>Include pay and promotional opportunities </li></ul></ul>
  31. 32. Annual Income of Salespeople and Sales Managers
  32. 33. Route to Management <ul><li>Selling is an excellent route to management </li></ul><ul><li>Starting in sales can lead to many other career advancements </li></ul>
  33. 34. Figure 1.6 - Frito Lay Career Track <ul><li>Zone Business Mgr. </li></ul><ul><li>Financial & HR responsibility </li></ul><ul><li>Category Mgr. </li></ul><ul><li>Customer category strategies </li></ul><ul><li>Data-base analysis </li></ul>Category Analyst Sales Associate Human Resources Director of Sales Finance Operations <ul><li>Key Account Mgr. </li></ul><ul><li>(5-8 per Area) </li></ul><ul><li>HQ Account Ownership </li></ul>Regional VP President Frito-Lay National HQ Sales <ul><li>District Sales Leader </li></ul><ul><li>(8-10 per zone) </li></ul><ul><li>People Leadership </li></ul><ul><ul><li>15 salespersons </li></ul></ul><ul><li>Account relationships </li></ul><ul><li>Zone Sales Leader </li></ul><ul><li>(4-8) per Area) </li></ul><ul><li>125 + employees </li></ul>
  34. 35. Figure 1.7 Sales Opportunities in Large Organizations President Vice President of Marketing Vice President of Sales National Sales Manager Division Sales Manager Regional Sales Manager District Sales Manager Sales Representative Sales Trainee Or here… Or you might end up here… You may choose to stay here… When you enter the workforce here…
  35. 36. The Face of Selling <ul><li>Today’s sales force is made up of people of both genders and various ethnic origins </li></ul>
  36. 37. Inside and Outside Sales <ul><li>At a broad level, professional selling can be divided into two types: </li></ul><ul><ul><li>Inside sales </li></ul></ul><ul><ul><ul><li>Telemarketing </li></ul></ul></ul><ul><ul><ul><li>Retail sales </li></ul></ul></ul><ul><ul><li>Outside sales </li></ul></ul><ul><ul><ul><li>Prospecting—finding potential customers/clients </li></ul></ul></ul>
  37. 38. B2B and B2C <ul><li>Business-to-Business (B2B) Selling </li></ul><ul><ul><li>The salesperson represents a company and sells to other companies </li></ul></ul><ul><li>Business-to-Consumer (B2C) Selling </li></ul><ul><ul><li>The salesperson sells directly to the consumer </li></ul></ul>
  38. 39. Classifications <ul><li>Retail selling </li></ul><ul><li>Trade selling </li></ul><ul><li>Missionary selling </li></ul><ul><li>Technical selling </li></ul>
  39. 40. Types of Selling: A Traditional Look <ul><li>Responsive selling </li></ul><ul><li>Creative selling </li></ul><ul><li>Needs-based selling </li></ul><ul><li>Consultative-partner selling </li></ul><ul><li>Problem-solution selling </li></ul><ul><li>Customer-centered selling </li></ul><ul><li>Value-based selling </li></ul>
  40. 41. Success in Sales <ul><li>Successful salespeople possess the following: </li></ul><ul><ul><li>Motivation to succeed </li></ul></ul><ul><ul><li>Empathy </li></ul></ul><ul><ul><li>Ego-drive </li></ul></ul><ul><ul><li>Service motivation </li></ul></ul><ul><ul><li>Conscientiousness </li></ul></ul><ul><ul><li>Ego-strength </li></ul></ul>
  41. 42. Sales Productivity: A Measure of Success <ul><li>Sales productivity is the ratio of sales revenues to what a salesperson inputs into making those sales </li></ul><ul><li>How salespeople use their time is critical to sales productivity success </li></ul>
  42. 43. The Essence of Selling ASAP The right knowledge used the right way to improve the salesperson’s ability to do the right things for customers more expeditiously
  43. 44. Figure 1.8 How Salespeople Spend Their Time Approximately 50% of time spent on account-specific sales and service focuses on current account development 20 % = new accounts 30 % = account maintenance <ul><li>Administrative tasks </li></ul><ul><li>Meetings </li></ul><ul><li>Travel time </li></ul><ul><li>Face-to-face selling </li></ul><ul><li>Phone/other selling </li></ul>Source: Adapted from information in the article: “Increase Your Sales without Adding Personnel” by Mike Rose, Director of Development, SalesLobby.com, Sales Compensation Consultant, Online Magazine, The Alexander Group, Inc., July 2000. http://www.saleslobby.com/ OnlineMagazine/0700/salescomp_MRose.asp
  44. 45. CRM Customer Relationship Management <ul><li>CRM is a strategy and process that utilizes technology </li></ul><ul><ul><li>To identify, attract, and retain customers </li></ul></ul><ul><ul><li>To leverage the sales organization’s relationships with its customers </li></ul></ul><ul><li>The agile salesperson uses CRM technology to assist him in managing customer interactions and transactions </li></ul>
  45. 46. Technology: Tools for the Salesperson <ul><li>Central role </li></ul><ul><ul><li>Store and share information </li></ul></ul><ul><ul><li>Communicate </li></ul></ul><ul><ul><li>Collaborate </li></ul></ul><ul><ul><li>Transact business </li></ul></ul>
  46. 47. The Customer-Focused Salesperson <ul><li>Willing to learn </li></ul><ul><li>Manages what they learn </li></ul><ul><li>Realizes improved results </li></ul><ul><li>Achieves customer loyalty </li></ul>
  47. 48. Why CRM Is Important To Salespeople Business Perspective Finding/Obtaining/ Keeping Customers Efficiency Competition Communication
  48. 49. Figure 1.9 The Customer-Driven Selling Model Results <ul><li>Increased Customer Loyalty </li></ul><ul><li>Higher customer retention rates </li></ul><ul><li>Lower customer defections </li></ul><ul><li>Less need to find new customers </li></ul><ul><li>Improved Dialogue with Customers </li></ul><ul><li>Fewer customer complaints </li></ul><ul><li>Improved complaint resolution </li></ul><ul><li>Increased referrals </li></ul><ul><li>Improved Customer Lifetime Value </li></ul><ul><li>Up-selling and cross-selling with existing customers yields more sales </li></ul><ul><li>Customer relationships become solidified as value is improved </li></ul><ul><li>Customers spend a larger share of their purchase dollar with one sales organization </li></ul>Customers Drive Markets <ul><li>Core Value </li></ul><ul><li>Optimize the salesperson/customer fit </li></ul>Knowledge Management <ul><li>Core Value </li></ul><ul><li>A commitment to on-going learning </li></ul>Customer Relationship Management (CRM) <ul><li>Core Value </li></ul><ul><li>A way to obtain, store, analyze, share and use knowledge </li></ul>
  49. 50. Questions <ul><li>Key Elements of Quality Professional Selling? </li></ul><ul><li>Everyone is a Salesperson…Agree or disagree, Why? </li></ul><ul><li>Likes/Dislikes about Salespeople? </li></ul>
  50. 51. CT Image of Upper Abdomen
  51. 52. Questions <ul><li>Consumers are Rational and Sovereign Assumptions…Comment, How Would this Affect Salespeople Doing their Jobs? </li></ul><ul><li>Describe Types of Selling Presented in this Chapter, How are they Different? How are they Similar? </li></ul>
  52. 53. Role-Playing Scenario (5 Min Each) <ul><li>Why are You Interested in the Sales Engineer Position? </li></ul><ul><li>What Does it Take to be Successful in Sales? </li></ul><ul><li>Relate Your Personal Strengths to Being a Sales Engineer for Mediquip </li></ul><ul><ul><li>NOT “I work hard” </li></ul></ul><ul><ul><li>NOT “I Like People” </li></ul></ul>
  53. 54. Knowledge Building Case <ul><li>Understanding of what the Customer Values? </li></ul><ul><li>3 things of Value in a Notebook Computer? </li></ul><ul><li>Difference between Price and Value? </li></ul>
  54. 55. CHAPTER 2 The Changing World of Sales
  55. 56. Figure 2.1 A Framework for Change in the Sales Force Globalization Roar of Technological Innovation Intensified Competition Customer Expectations Change Forces Is Our Sales Force Current? How the Sales Organization Is Positioned For Change Organization Culture/Climate Organization Structure Market Orientation Leadership Support Learning Is Organization And Individual Performance Satisfactory? How Individual Salespeople Respond to Change
  56. 57. Assignments <ul><li>Chapter Two </li></ul><ul><li>Questions 1, 2, 6, 9, 10 </li></ul><ul><li>Knowledge-Building Questions </li></ul><ul><ul><li>2, 4, 6 (p. 62) </li></ul></ul><ul><li>Three-Minute Drill </li></ul>
  57. 58. Review - Preview <ul><li>Today… </li></ul><ul><ul><li>Chapter One – Selling ASAP </li></ul></ul><ul><ul><li>Questions </li></ul></ul><ul><ul><li>Role Play </li></ul></ul><ul><ul><li>Knowledge Building Case </li></ul></ul><ul><ul><li>Chapter 2 preview </li></ul></ul><ul><li>Tuesday </li></ul><ul><ul><li>Chapter 2 (the changing world of sales) </li></ul></ul><ul><ul><li>Questions 1, 2, 6, 9, 10 </li></ul></ul><ul><ul><li>Mediquip Knowledge Building Questions 2, 4, 6 </li></ul></ul>
  58. 59. BA 491 <ul><li>Be Safe, and Have a Great Weekend! </li></ul>