Sales staff must scan company Web sites, read corporate annual reports, and talk to competitors in the industry so they can get a feel for prospects' issues. Sales people should thus be rewarded not based on immediate returns and quick-profit producing sales but long-term client building results. Developing and executing such a problem-based sales approach can take longer htan traditional approaches that simply stress product quality. "Eighteen months ago, an opportunity that did not pan out after four to six weeks would have been labeled a low priority," but a "sales cycle of three to four months is now mainstream." It may take twice as many contacts to close a sale today and "surprisingly, both entrepreneurs and experts agree sellers can't always shortcut the process by just dropping the price. "The old method of selling by price is falling by the wayside...Organizations are willing to pay more if the product's value is evident. They won't pay a dollar for anything if they don't see the value," and the need for targeting long-term sales problems.(Hendricks, 2002, p.1)
Motivating the Staff on a Long-Term Basis
Things have changed in terms of motivating by commission salaries. "The good news about paying salespeople today is that you can peg a higher percentage of compensation to performance. Entrepreneurs today are having less trouble keeping good people and hiring new ones at lower base salaries than in years past. But they are also finding less justification for paying straight commissions for new orders. Instead, they're basing compensation on more exotic, harder-to-figure measures such as profit margin per order and customer satisfaction. The revised approaches do more than save money, although total sales pay may actually be shrinking from previously inflated levels. Most...
Transactional selling is done through multiple channels, as websites, telemarketers, direct sales forces, and indirect channels including distributors, channel partners, and retailers all sell the most commonly requested products more on price and availability than features. The challenge for sales professionals is to sense when their customers want to buy using the transactional approach vs. The consultative sale. Generally transaction selling works best when the customer wants little or
As the case study shows, one year after the acquisition the combined division is making significant contributions including serving as a catalyst for $1.4B in new projects for EDS. This specifically shows how the aligning of organizational structures and cultures is critical to the success of a merger, especially in an area as time- and resource-driven as enterprise and strategies sales. In assessing and approaching new accounts that were working
Management Strategies The History of Apple Corporation Strategy Development and Implementation The History of Apple Corporation The corporation has an exciting history, as it has transformed to the biggest and most successful technology firms in the world, under the best managers of time. Both the employees of the firm, the management and the product consumers have been linked to the firm's success. The firm was started with the two Steves, who from their early
The B2B sales professional needs to understand gaps in the competitive offerings of competitors to be able to successfully position their own products with customers as well. Often B2B selling professionals also spend an inordinate amount of time building contacts within their own organizations as well, to build a network of experts they can rely on to solve their customers' problems. The ability to create an informal team that can assist in the developing of quick,
Susi, G. Paolo, G. (2009). The sales function in the twenty-first century: where are we and where do we go from here? European Journal of Marketing. Emerald Group Publishing Limited. In this journal article the authors investigate the effect of selling strategies on sales performance. They do so by briefly reviewing sales performance journals. This journal article has been chosen because it reveals several selling strategies used both by successful
Thus, the pitch should include talking points for describing it to customers. Describe the importance of customer relationship management (CRM) to sales management. CRM is important to sales management for many reasons (Customer relationship management, TechTarget). It helps them optimize information shared by multiple employees and streamlines business processes such as taking orders. and, it allows the formation of individualized relationships with customers, with the goal of improving customer satisfaction and
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