Maximising sales force effectiveness (1) [Autosaved] (4).pdf

August 2023
Maximizing Sales
Force Performance.
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directly or indirectly from the disclosure of the presentation contents to any third party and/or the reliance
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the workshop agrees to indemnify ICAA Advisory in this respect.

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We are glad to have you in our
Maximizing Sales Force Performance Training.
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Welcome and Introduction
Name
Role and
Experience
Hobbies
Expectations from
this Training
Let’s get to know each
other a little better!

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Ground rules
Participate
Phones on Silent
Keep time
Share experiences
Views
Questions
Any other?

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Time keeping
Treasurer – to receive non compliance related fines
Time keeper – to flag off key activities
Set a consequence for non compliance
To help us keep time we need:

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15 minutes
PRE TEST

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Outline - Day 1
1. Overview and the rationale for Maximizing sales force performance.
2. Setting SMART objectives for the sales force
3. Aligning sales force performance with the Bank’s business objectives
4. Tracking sales performance using KPI’s and daily dashboards to
evaluate performance.

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Outline - Day 1
5. Structuring the coaching process to improve performance of the mid
-band performers
6. Developing an effective sales force structure
7. Making strategic investments in the sales force skill-sets and
identified gaps.

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Outline - Day 2
1. Understand and leverage technology and digital transformation to
support the sales process.
2. Building a winning sales culture
3. Identify new ways to innovate new products and service to stay
competitive.
4. Make customer experience your top priority to ensure customer
retention and continued business.

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Overview and the Rationale for Maximizing
Sales Force Performance
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Overview and The Rationale
What do you understand by
Sales Force Performance?

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What do you understand by Sales Force Performance?
Sales force Performance gives your team something to aspire to
• Sales performance is about more than just maximizing your profits.
• It is also an important element of career growth for yourself and your reps.
• Salespeople are naturally competitive; they want to win and succeed
• Focusing on performance gives them a goal to work toward and an
opportunity to “win”.
• Incentives help to nurture the competitive spirit of sales teams

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Performance Impacts Bottom Line
Focusing on sales performance is a way of making sure you’re giving a
top-notch customer experience.
• In order to drive sales, sales reps have to connect well with customers.
• Gain customer trust and confidence.
• Close deals.
• The more sales your reps close, the more revenue your bank generates.
• Tracking sales performance sets you up to meet or exceed revenue goals.

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Building a Winning Sales Culture
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What is a Sales Culture
& Why is it Important?

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• The term “sales culture” encompasses the attitudes, values and habits shared
among the members of the sales department.
• The sales culture defines how salespeople are expected to interact with one
another and potential customers.
• Culture is the foundation of every solid business. It reflects what you stand for,
what you value and what you aspire to achieve.
Sales Culture & Why is it Important?
• Without a clearly delineated, positive sales culture,
no sales strategy is complete, and sales success may
be limited.
• It defines your company's personality and shapes
how you behave, work and communicate.

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Strategies to Establish a Sales Culture
2. Set Clear Goals & Expectations:
Clear communication about goals and
expectations is a must for sales teams.
Without it, your team is likely to lose
momentum. Goals should be challenging
enough to keep salespeople engaged,
but also achievable.
3. Encouraging Learning &
Development
Employees like to feel valued, and they'll
appreciate your willingness to invest in
their ongoing learning and development.
Demonstrate your dedication to their
professional growth, and you'll see increased
productivity.
1. Hire for the Right Culture Fit:
Focus on finding people who align with
your culture and values.

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5. Celebrate all types of contributions.
Always recognize good performance.
Promoting a culture that openly celebrates
excellent work gives life to more excellent
work!
4. Build a strong team. (And have fun!)
▪ Schedule team meetings to share success
stories and challenges. Appoint specific
employees as subject-matter experts to
capitalize on individual strengths.
▪ Foster trust and good rapport among
team members.
▪ Be available for team-building activities,
celebrate successful.

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6. Inspire Passion & Trust.
▪ Communication is paramount to establishing a
positive sales culture.
▪ It builds trust in leadership, among team members
and in the company vision.
▪ Share your company's long-term goals with your
team.

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Winning Sales Culture.
A customer's overall experience with a brand
-- positive or negative – is a major contributor to
both long-term loyalty and sales.
Linking Customer Experience to Sales Force Performance

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2. Customer Feedback:
Enables businesses to make necessary
changes - This process enables businesses
to identify problems and rectify them,
ensuring customer retention and repeat
sales.
1. Customer Retention:
Is more profitable than generating
new customers. Most businesses
understand that it's better to keep an
existing customer as opposed to
finding a new one. Existing customers
tend to spend considerably more
when they are happy with their
entire investment experience.

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4. Free Word of Mouth Advertising:
▪ it's important to keep customers happy
enough that they'll want to tell others about
it, which can in turn drive sales.
▪ customers choose to share those positive
reviews on their personal accounts, using
social media platforms such as Facebook,
LinkedIn and Twitter.
3. Happy & Empowered Employees Make Happier Customers

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5. Better Understand the Competition's Strengths & Weaknesses:
▪ Collection and analysis of this data can help
businesses understand how the competition is
faring.

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Questions and Comments?

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Group Discussion
i. How would you Describe
the Sales Culture in CBE ?
ii. Why?
Group Exercise
Group
Discussion

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Developing an Effective Sales Force Structure
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Advantages of an effective sales force structure
A good sales
structure establishes
clear responsibilities for
each person's role
Incorporates stronger
coordination and
communication
cultivates a more
knowledgeable sales
force.
Reduces conflict
between team members
and increased
engagement with their
customers

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Types of Sales Force Structures
Effective Sales Force Structures
1. Geographical
2. Product /Service
3. Customer/Account size
4. Industry /Segment

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Types of Sales force structure - Geographical
Structure
Assigns each rep a specific
territory demarcated by
geographic location.
It allows each person on the
team become very familiar
with their assigned segment
of the customer
Builds relationships with
local businesses and
vendors,
Tracking sales targets in
their area,
Keeping an eye on your
competition in that region.
A geographic approach can
also make it easier for
managers to track a rep’s
performance by examining
the numbers in that rep’s
region.

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Group Discussion
What are some of the Advantages &
disadvantages of the Geographical
Sales Force Structure.
Group
Discussion

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Types of Sales force structure - Product /Service
This structure assigns
people on the team to
specific products and
services you sell.
They become experts in
that product or service,
and that deep knowledge
aids them in their work.
develop deep expertise in
a product or service,
whereby they can outline
detailed use cases and
advantages for the
customer.

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Types of sales force structures - Customer or
account size structure
Sales Reps are allocated by customer type, or the size of the account
Given that it takes different skills to sell to a small business versus an enterprise-level
one, it wouldn’t make sense to assign all sales reps to every account regardless of size.
This sales structure allows the reps to be attuned to the customers’ business needs
and develop that knowledge and become experts in their respective accounts.
Each group of reps handles a different size of account — usually divided into small to
medium, mid-market, and Corporate accounts.

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Types of sales Force Structure – Industry/Segment structure
This structure makes sense
for organisations that have
a product or service used
by clients in multiple
industries.
Reps become experts on
their assigned industry
,making them well-
positioned to offer product
to those industries as a
solution.
Reps develop deep industry
expertise and can sell
effectively to Customers

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i. What Sales Force Structures does CBE use?
ii. What are the Advantages?
iii.What are the Disadvantages?
Group
Discussion
Group Discussion

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Understanding Sales Cycle and its
importance

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▪ The sales cycle is an endless loop of engagement, by which you
identify interested potential customers and nurture them through the
sales process.
▪ The sales cycle is an everyday process used by sales and marketing
teams to bring in potential customers and increase sales for the
company.
▪ The goal of the sales cycle is to streamline and shorten the time
between a customer becoming aware of a company and making a
purchase.
Understanding the sales Cycle

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When do people buy?
People tend to buy when:
❖ Their questions and concerns
have been handled
❖ Their requirements are understood
❖ The rationale for making the
purchase has been explained
clearly especially the benefits
❖ An agreement has been reached

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Highlight
People will tell 20 other people about a negative experience
but only five people about a positive experience.

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What is sales Cycle
The sales Cycle is a guide on how to interact with customers when you
want to sell your products.
It outlines the steps you need to help customers find the products and
services they want from your bank.

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Sales Cycle : Establishing relationships and building rapport
Establishing
Relationships and
Building Rapport
Identifying
Customer Needs
Offer Suitable
Solution
Close
Deliver and
Evaluate

Establishing relationships & building rapport
•Trust Equation
T = C + R + I
SI
T — Trust
C — Credibility
R — Reliability
I — Intimacy
SI — Self Interest

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Establishing Relationships and Building Rapport

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Establishing Relationships – problem solving
In case on your first appointment you find that the prospective customer has
unresolved issues with the bank, what do you do?
▪ In this case, the issue must be resolved first before progressing any further
▪ Some complaints/issues may be within your authority to resolve while
others may need liaising with other units/people within the bank
Discuss
▪ What are the most common issues that you come across?
▪ How do you handle each of them?
Solving customer issues, queries and complaints is key to building trust

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Establishing Relationships – Pitching for business
o Once Rapport has been established and problem solved, we
can listen out for an opportunity
o To identify the real need you may ask questions
Discussion
▪ What are some of the questions that you have used to identify
customer needs?
▪ Meeting the need with an innovative solution is what sets you apart.

• C = Credibility:
Believability and expertise
o Part of this comes from the strength of the bank’s brand; every
individual also has personal credibility.
o Credibility comes partly from our technical expertise but also
from excellence in customer service and ‘impact’ i.e., the way
in which we look, act, react and talk about our products and
services.

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Credibility may be enhanced by:
❖ Listening skills - listen to the customer
❖ Use of questioning skills to identify the real need and sport an opportunity
❖ Exploring solutions with the prospective customer
❖ Customer’s perception of your understanding of his need
❖ Suitability of your proposed solutions
❖ Customer’s perception of the RMs knowledge
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Establishing Relationships and Building Rapport

• R = Reliability:
Reliability is about whether the clients think we are
dependable and can be trusted to behave in consistent ways.
o Judgments on reliability are strongly affected by the number
of times the customer has interacted with us.
o Reliability means returning our phone calls on time, keeping
our promises, and delivering what we say we’re going to
deliver every time.

Intimacy
o Intimacy is the least tangible and most difficult aspect of building a trust-based
relationship.
o It means seeing the client as an individual rather than a person fulfilling a role.
o Intimacy is about emotional closeness concerning the issues at hand.
o This is not about prying into someone’s personal life, but about demonstrating
empathy and honesty. Greater intimacy means that fewer subjects are barred
from discussion and there is a willingness to talk about difficult agendas on both
sides.

SI = Self interest
o Self interest is the extent to which we are preoccupied with our
own agendas rather than our customers’.
o We should be prepared to be patient rather than going for a
‘quick kill’.
o We should also place our customers’ interests above our own
where the two are in conflict e.g. hitting a target but not providing
the right solution.

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Sales Cycle : Identifying customer needs
Establishing
Relationships and
Building Rapport
Identifying
Customer Needs
Offer Suitable
Solution
Close
Deliver and
Evaluate

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Identifying customer needs
▪ It is important that you understand your customer's current position and future
financial aspirations.
▪ You will get this information by asking open ended questions about their current
situation and then really listening to the answers.
▪ Open questions start with the following words What, When, Where, Who, How.
Make notes to capture what the customer is saying.
▪ This shows that you are interested in what they are saying and you consider it
important.

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Sales Cycle : Offer suitable solution
Establishing
Relationships and
Building Rapport
Identifying
Customer Needs
Offer Suitable
Solution
Close
Deliver and
Evaluate

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Offer Suitable Solutions
▪ It is not until this point in the sales process that we mention our product
or offer.
▪ Link our products and services to the customer's needs and their lives.
▪ Highlight the features of the product which are most likely to benefit
them based on what you know about their lives. (e.g. this account
comes with a cheque book, which will be useful for your children's
school fees and other expenses)

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Offer Suitable Solutions
The solution is always about what's in it for your client. Not
what you think is great about your product, or what other
clients think.
Be specific ...How does your product help this client and
meet his needs.
Educate the customer about the terms and conditions of the
product during this stage.

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Sales Cycle : Close
Establishing
Relationships and
Building Rapport
Identifying
Customer Needs
Offer Suitable
Solution
Close
Deliver and
Evaluate

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After offering the solution you need to close the sale. At this
point you need to ask closed questions which will lead to direct
answer.
Be clear, concise and don't be afraid to ask for the sale. e.g.
Would you like me to help you sign up for this account today?
Repeat back the actions that must be taken to move forward on
the sale so they understand the process
Set dates when it will be done and follow up, follow up,
follow up.
Agree future contact/appointment
Sales process : Close

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Sales Cycle : Deliver and Evaluate
Establishing
Relationships and
Building Rapport
Identifying
Customer Needs
Offer Suitable
Solution
Close
Deliver and
Evaluate

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Deliver and evaluate
Step 01
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Deliver the
product the
customer
signed up for
Step 02
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Ensure cheque
books and
cards have
been issued.
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Care call – a
few weeks
later
Step 03
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Follow up to
find out
whether the
customer is
satisfied

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Deliver and Evaluate
Make sure you are clear on why this is and
you have an explanation for the customer
It is important to also communicate to the customer incase you are
unable to deliver the product that they requested for e.g., when a
loan application is declined.

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Questions and
comments ?

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Making Strategic Investments in
The Sales Force Skill Sets & Identified Gaps
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Why Train Sales Teams
Why Train
Sales Teams?

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Improves Sales Performance:
▪ Better and improved understanding
of market forces, company policies,
product knowledge and the use of
selling techniques enable the reps to
handle customers with full confidence.
▪ This results in improvement of sales
performance.

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Minimizes the Turnover of Sales Force:
In any organization, new sales force turnover
rate is much higher than the Seasoned Sales
Force.
Sales training builds knowledge, skills and
confidence thus retaining them longer.

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Improves Understanding & Behavior:
▪ Sound training is one that imparts deeper
and sound understanding of
organization’s policies, and procedures.
▪ This makes the reps aware of what is
expected of them in terms of
performance and behavior.

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▪ Changes in your Market.
All markets are dynamic by nature and training is
an important part of keeping your salespeople up
to date.
▪ Changes in technology, legislation, customer
needs, all serve to make you and your business
less relevant unless you change with them.
▪ Use of Social Media in selling has now become
a critical sales skill in modern selling.

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• Building Brand Loyalty
▪ Sales Training help sales team accurately
diagnose the root cause of customers’ business
pains and circumstances before offering solutions
that match their requirements perfectly.
▪ The better your customer experience is, the more
likely it is that those customers will return to you to
purchase more products and services, time and
time again.
▪ Sales decisions are based on how much trust
customers have in a brand and salespeople are
an extension of the brand

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• Business Growth - Quality sales training and coaching
can give sales teams the knowledge that they need
execute the growth strategy and take the bank to the
next level.
• Knowledge is Power –increased knowledge on products
& services
• Increase Leadership & interpersonal skills
• Building Resilience of Sales Team- In sales you will
always receive more No’s than Yes’s it’s important to
have skills and coping strategies to deal with this.

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Determining the Sales Force
Size For Maximum Performance
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Group
Discussion
Discuss:
• How do you determine the size
of a sales team?
• What factors do you consider?
Group Discussion

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What are the Factors That Affect
the Size of the Sales Force?

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Size of the Sales Force
1. The Number of Customers
Basic criteria for deciding the size of the
sales force would be the number of existing
and potential customers. By considering this
number and deciding the time required to
deal with each customer, the organization
can arrive at the optimum sales force size.

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2. Product
If the product is new and requires a
salesperson to demonstrate or
explain the technicalities, the sales
force's size would be larger than an
established consumer product with
sufficient demand in the market.

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3. Experience
Experience of the sales team would also
affect the size of the sales force. If most of
the sales force members are new, the size
would be on a higher side as against the
team that has experienced sales personnel.

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4. Budget
The budget allocated for the sales function
would affect the size of the sales force. This is
a practical consideration that will have to be
kept in mind. If the budget is high, there would
be fewer restrictions in the appointment of
salespeople in the team and vice versa

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What are the Methods for
Determining Sales Force Size?

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Methods for Determining Sales Force Size
• The number of hours required for the purpose of selling is calculated, then this is
divided by the selling time available to each salesperson; the result would be the
required size of the sales force.
• This is one of the simplest methods to determine the size of the sales force.
• The shortcoming of this method is that it considers all salespeople as equally efficient,
which is not correct in real life.
Sales Force Size
1. Workload Method

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Importance of Recruiting &
Retaining The Best SalesPeople
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Recruiting & Retaining Sales people
a. Continuity,
b. Confidence,
c. Community
d. Strong culture within the organization
Recruiting & Retaining Employees is Important Because;
i. High cost of turnover and its effects on an organization’s productivity
ii. It’s necessary to ensure
iii. Job expertise
iv. Customer satisfaction.
v. It also helps a company build a positive image with
customers and potential hires.
v. Camaraderie

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Setting Goals & Managing Performance
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Setting Objectives:
• Set SMART objectives and measures
• Monitor individual and team performance
• Give/receive performance feedback
• Review your individual/team performance
• Let’s look at each of these areas in detail.
Before Setting Goals, a Leader Must Have a Vision
Goal Setting

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Effective Goal Setting
Goal setting is a powerful process of turning
your vision of the future into reality.
It helps you choose where you want to go,
what you want to achieve and where to
concentrate your efforts to achieve your
goals.

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SMART
To set goals we use the SMART mnemonic.
S - Specific
M - Measurable
A - Achievable
R - Realistic
T - Time bound
S
M
A
R
T

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SMART
Everyone has a responsibility of ensuring that objectives pass the SMART test.
Objectives Should Be:
Stretching & Specific – a target that will
require effort to achieve. Yesterday’s best
becomes today’s minimum (Raising the
bar).
Measurable – qualitative or
quantitative. It must be something
that can be monitored.
Achievable & Agreed
– wherever possible
Relevant & Realistic
– to a business goal
Time Bound – a definite
end date or time
Setting Smart Objectives

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Individual targets are derived from the overall team objectives and should
cover all performance areas under the team member’s responsibility: i.e.
• Business growth/income.
• Customer service.
• Operational excellence.
• Team/staff/people.
• This should be weighted and skewed
towards the staff’s main work-stream.
Setting Smart Objectives

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Communicate/Cascade the Goals
How would you cascade
stretched goals to your team?
Discussion
/Role Play

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Communicate/Cascade the Goals
For Effective Cascading:
• Create a vision of the desired future
• Get the team’s buy – in
• Share the goals
• Agree reward

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Timing
Cascading Objectives
• When the team convenes, call the meeting to
order and do a brief welcome.
• Share a short background on how the targets
were arrived at
• Inform the team that 2023 budget has been
agreed and what the bank is aiming for.
Ensure sufficient time is allowed for effective cascade

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Monitoring
• How often do you monitor your own/team
performance?
• How do you give performance feedback?

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Performance Appraisal
• How often do you appraise performance?
• How do you do it?

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Reward Management
• Reward must be linked to performance

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Other goals that are important in your Career:
Personal Leadership Development Goals
• Where do you want to be in 5 years time?
• What do you need to get there?

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Other goals that are important in your Career:
Personal Finance Goals
• How would you like a day in your
retirement to look like?
• What must you do to achieve that goal?

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Now that you have taken the position as
the new Head of sales, at the start of the
year, please set targets for the team and
consider:
• Operational excellence in sales - no errors
• Channels – recruitment into channels as
appropriate
• Customer experience to ensure repeat buys.
What would you do to ensure that the
team exceeds expectation this year?
Group
Discussion
Discussion

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Tracking Sales Performance to
Evaluate Performance.
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Target sheets are then signed.
The performance journey has started.
Performance Monitoring
Tracking Sales Performance
• Monitor performance against daily targets
• Give regular performance feedback
• Both developmental/motivational feedback.
• Always be objective, hate sin but love the sinner
• Whatever tools you use, measure at results level (not stories)

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Consequence Management
• The final ratings are advised
• Used to inform salary and bonus decisions.

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Managing Poor Performers
• Give developmental feedback.
• If no change place on Performance
Improvement Plan (PIP)
• Refer the staff to function head or HR
to exit.

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Managing Top Performers
• Give motivational feedback
• Incentives (tokens, bonus, pay-rise etc.)
• Understand their career aspirations
• Identify gaps and grow them as part of your succession plan. How?
• Always let them know that they are at the head of the queue for
any openings in their desired path.

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Structuring the Coaching Process
to Improve Performance
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1. What is Coaching?
2. What is the objective of Coaching?
3. Who should be Coached?
4. How should you Coach?
5. When should you Coach?

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Coaching
Coaching is the process that involves improving
a jobholder’s performance by discussions and
guidance, so that they learn to improve their
own performance in the job role.
What is Coaching?

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What is coaching?
Components of Coaching
• Teaching someone how to do something
• Developing the performance of others
• Helping someone maximize their potential
• Encouraging
• Motivating – building confidence
• Communicating
• Explaining things

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Group Discussion
As a coach what are some of
the core skills you should have?
Group
Discussion

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Core Coaching Skills
a) Giving Feedback
b) Questioning and Clarifying
c) Listening
d) Challenging constructively
e) Summarising
f) Objective Setting
g) Suggesting possible solutions

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• A genuine wish to help others to help themselves
• Positive approach towards the individual and team
• Operates from sidelines, listens, observes and analyses
• Sets clear but high standards
• Sets specific targets and deadlines – provides feedback
• Asks questions to encourage thinking
Characteristics of an Effective Coach

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• Creates a climate of confidence
• Allows for individual differences and strengths
• Provides back-up support
• Takes time, has patience and earns respect
• Is willing to show how something should be done
• Keeps on coaching!
Characteristics of an Effective Coach

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Coaching Models
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High Low Matrix Coaching Model
Coaching Models
Skill
Will
Hi
Hi
Low
Low
Motivate
• Tap into motivators
• Identify Constraints
• Praise & Endorse
Direct
• Teach & train
• Provide guidance
• Identify constraints
• Tap into motivators
Delegate
• Give additional responsibility
• Praise and endorse
• Collaborate on decisions
Advise
• Teach & train
• Provide guidance

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GROW Models
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Coaching Models
The Grow Model of Coaching
Goal:
• Coaching starts with establishing a goal.
• It could be a performance goal, a development
goal, a problem to solve, decision to make, or a
goal for the coaching session.

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Coaching Models
Here are questions designed to help someone gain clarity on their goal:
• What do you want to achieve from this coaching session?
• What result are you trying to achieve?
• What outcome would be ideal?
• What do you want to change?

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Coaching Models
Current Reality:
This step in the GROW model helps you and the employee gain awareness of the
current situation – what’s going on, the context, the magnitude of the situation,
etc.
• Have you already taken any steps towards your goal?
• How would you describe what you did?
• Where are you now in relation to your goal?
• What progress have you made so far?
• What is working well right now?

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Coaching Models
Options:
Once you both have a clear understanding of the situation, the coaching
conversation turns to what the employee can do to reach their goal.
• What are your options?
• What do you think you need to do next?
• What could be your first step?
• What do you think you need to do to get a better
result (or closer to your goal)?
• What else could you do?

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Coaching Models
Will or Way Forward:
This is the last step in the GROW model. In this step, the coach checks for
commitment and helps the employee establish a clear action plan for next steps.
Here are questions to help achieve this:
• How are going to go about it?
• What do you think you need to do right now?
• Tell me how you’re going to do that.
• How will you know when you have done it?

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ROLE
PLAY
140
Coaching Models
Jasper is an experienced Relationship manager who has
been on the role for 6 years. He has so far performed well
until he was transferred to a new district. His supervisor says
that the RM’s attitude has changed, his commitment is
wanting and he is not getting along with other staff.
a. He closed the year at 45% of his mobilization budget.
b. We need a volunteer to coach Jasper as others observe
and share feedback at the end.

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Technology & Digital Transformation to
Support the Sales Process
ICAA Consulting

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Supporting the Sales Process.
What is Digital Sales Transformation?
• A Digital Sales Transformation (DST) is the process of integrating
digital technologies into all aspects the sales operation.
• The digital transformation in sales includes everything from
automating repetitive tasks and using data analytics better to
understand customers’ needs, problems and trends.
• The goal of the digital sales transformation is to make the sales
process more efficient and effective. As a result, increasing revenues
and profits.

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Increase Productivity?
As digital sales transformation focuses
on streamlining processes by
implementing technology, they make
workflows much more efficient. By
automating repetitive tasks, you’ll ensure
salespeople are focused on selling.
Digital Sales Transformation

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Improve Customer Experiences?
Customers have high expectations for
digital experiences. They expect endless
choice, low price, and fast delivery.

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Stronger Resource Management?
Digital transformation consolidates
information and resources into an easy-to-
use suite of tools for business. Rather than
dispersing software and databases, it
consolidates company resources and
reduces overlap.

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Gain a Competitive Advantage?
A successful digital sales transformation
ensures you use up-to-date sales techniques
and materials, which help be more
effective when selling to the modern buyer.

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Increase Revenue?
One way to use the Digital Sales Transformation
to differentiate your brand is to demonstrate how
much you value your customers’ privacy in this digital
age.
For example, you can give customers control over how
you collect and use their data - empowering them to
decide what you do with their information.

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A successful digital sales transformation requires five pillars of digital
change:
1. Understanding digital customer buying behavior
2. Re-allocating sales resources
3. Revising coverage & compensation
4. Automating sales workflows
5. Becoming data-driven

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Identify New Ways to Innovate New Products & Service to Stay Competitive.
Brainstorm Ideas.
Based on customer research and
competitor research. Include a mix of
data-gathering methods, including focus
groups, surveys, and customer studies.

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Develop concepts that satisfy customer needs.
Continue conducting analysis to make sure these
products fit into the competitive landscape. Does
the product solve a problem or simplify a
process? Is it redundant?

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Validate concepts via testing.
Keep gathering feedback as you go, being sure
to listen to what works (and kill what doesn’t).
Wherever possible.

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Use Customer Segmentation
To assess the market and determine which
of your concepts will be most profitable.
A business goal.

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Refine Your Concept
To control costs. Keep iterating until
your product is the best it can be

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Make Customer Experience your Top Priority to Ensure Customer Retention and Continued Business. For the
Best Customer Experience;

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Questions and Comments?

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Building a Robust Referral Network.
ICAA Consulting

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Building a Robust Referral Network
What is a Referral Network?

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A referral network is basically a network of individuals and
organizations that give referrals.
Referral networks can be a combination of informal and
formal agreements.
Create an informal referral network by building your network.
Discover what your contacts do, get to understand people,
cross-refer your contacts, and make introductions, and the best
way to do that is referral networking
What is Referral Network?

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The more you give, the more you get.
Productive business relationships demand a give-and-take from both parties.
Offer and present your expertise and assistance or share industry information
others would find helpful.
How to Build a Robust Referral Network
This will assist those in your network to reciprocate
when you also require a helping hand.

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Acknowledge & Thank those in
your Business Referral Network

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Expand your business referral network to develop new relationships.
Go outside of your direct circle of
associates and begin meeting new
people in adjacent circles

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Pay Close Attention to the Local Social & Business Landscape.
Keep track of conferences,
tradeshows, and meetups where
your referral network may be
accompanying.

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Prune, Nurture & Reshape Your Network Often.
▪ A business network is a vibrant, living thing that will
expand and contract over time.
▪ Develop relationships with partners required for
your business growth and eliminate those who are
no longer helpful.
▪ Revisit your network constantly so you can see
which relationships you should proceed to nurture.

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Spend Some Quality Time With Key Relationships
▪ As your circle evolves, it will be challenging to spend time with
everyone. determined which relationships are the critical connections to
your growth. These relationships will produce higher returns in the short
and long term and are worth spending time on.
▪ Don’t spend as much time nourishing the ones that aren’t giving you
value, and you may think ‘retiring’ other referral contacts that have
consistently fallen short

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Provide Exceptional Service
Go over the top to satisfy your clients so that
they will recommend you to everyone they know

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Group
Discussion
167
As the head of sales, in your monthly performance
review, you realize that at best your unit will only
achieve 75% of the sales target.
• What actions would you take to deliver an extra
30% to exceed the budget?
• What support would you require and from who?
• How would you proceed to drive performance?
Discussion

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What is an
Incentive Plan?
Designing Incentive & Motivational Programs

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What is an Incentive Plan?
▪ It's a type of compensation program that
companies use to stimulate employee
performance and increase productivity.
▪ Rewards can be financial or in the form of
payment in kind, depending on the team's
preferences.

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The Present:
Rank sales people
based on current results.
The Past:
Measure the salesperson’s
percentage growth in sales
over prior-year results.
The Future:
Measure the percentage of
individual sales goals
achieved by each salesperson.
The incentive plan needs to align the salesperson’s activities with the firm’s objectives.
An effective plan may be based on the

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Why design an
Incentive plan?

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Why design an Incentive plan?
i. Aligning Incentives with the business objectives.
ii. Increase employee motivation in the company.
iii. Boost workers' professional growth & development.
iv. Improve the work climate.
v. Measure the company's performance.

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Types of Incentive Plans
Monetary Incentives
• Salary increase
• Pension plan or medical insurance
• Sales commission
• Performance-based bonus
• Loan scheme
• Annual bonus

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Types of Incentive Plans
Non Monetary Incentives
• Flexible working
• Meal vouchers
• Free or subsidized transport
• Training
• Incentive travel
• Free access or subsidies for services (childcare, gym membership)
• Gifts in the form of products (gift card, Christmas hamper)

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Steps For Designing an Incentive and Motivation Program that is Result Focused
1. Define Your Budget
Do you have the budget for it?
How far can you go?
Clarify your budget and set a
maximum amount for your plan.

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2. Set Clear Objectives
• Define your objectives for doing so.
• What do you want to achieve?
• What are your priorities?
• Which aspects need to improve?
Reviewing the company's business objectives is vital to answer these questions as it will give
you a clue about which areas to focus on. Maybe it would be to increase sales, reduce staff
turnover or attract talent.

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3. Analyze What Interests Your Employees
What are your employees' needs or concerns?
Research this when designing an incentive plan to
ensure it will be truly effective. Send an anonymous
questionnaire by email and analyze the results to
implement the most popular options.

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4. Select a Type of Incentive Plan
Study the survey results and choose the incentives to
implement, without exceeding your budget. They will
undoubtedly fall into one of two categories : monetary
or non-monetary incentives.

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5. Create The Document
The document should include the following points:
• Purpose.
• Potential benefits of the plan.
• Description of incentives.
Having this incentive plan on paper will be useful for internal distribution so that the entire
workforce can check it whenever they have queries.
• Objectives to fulfil.
• Evaluation method

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6. Communicate
Make others aware of your plan.
It's important that everyone receives information
and above all, that they understand it properly.

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Group
Discussion
Group Discuss:
• Discuss the Incentive plan in CBE
• What are the advantages &
Disadvantages if any.
Group Exercise

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Sales Leads Management
ICAA Consulting

ICAA Advisory
What Is Sales Lead
Management?
Sales Lead Management

Driving Performance
Generating Leads

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Generating Business Leads

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Generating
sales Leads
Where do you get the most business
referrals from?
Leads can be generated from:
▪ Back office/non- sales employees in
the branch

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Generating
Business
Leads
• Employees in other functions
e.g.
• Finance
• Treasury
• HR
• Satisfied/happy Customers
• District head office
employees

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Quick
execution Recognition
Give
Feedback
Be supportive Encourage
referrals
Be
approachable
To generate business leads from all employees
irrespective of their role/position :

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Deliver on promises:
▪ If you had committed to reward successful referrals, keep the
promise
▪ Make every referral count
▪ Discussion & experience sharing
How do you go about generating referrals from other
functions?

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Calculating Sales Conversion Rate
Sales Conversion Rate = (Number of Conversions / Number of Leads) x 100
To calculate your sales conversion rate, you need to divide the number of
conversions by the number of prospects and multiply by 100
Formula
For example, if you have 50 prospects and 10 conversions, your sales conversion rate
is 10/50 x 100 = 20%. You can use this formula for any stage of your sales process,
as long as you have a clear definition of what counts as a conversion and a prospect.

ICAA Advisory
Calculating Sales Conversion Rate
• A higher conversion rate is a positive
indicator as it means a greater proportion
of leads are becoming customers.
• It signifies the effectiveness of your sales
and marketing efforts in influencing
potential customers to take action.

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Optimizing Sales Conversion Rate.
How do you Optimize
Sales Conversion Rate?

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Optimizing your sales conversion rate
involves finding and implementing ways to
increase the likelihood of your prospects
taking the desired action.
How to Optimize Sales Conversion Rate?

ICAA Advisory
Strategies and tactics you can use include:
• Qualifying leads, crafting a customized sales pitch or offer.
• Building rapport and trust.
• Addressing objections and providing social proof.
• Creating urgency and scarcity.
• Following up and nurturing prospects.
• Asking for referrals and testimonials.
These techniques can help you maximize your conversion rate.

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