Sales opportunity in management

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Sales Opportunity Management

Generating

New

Accounts

Managing Existing Accounts

Personal Time Management

Sales Versus Profits

Generating New Accounts

What Creates

Satisfied Customers?

Acquiring New Customers

Mergers and Acquisitions

Introducing

New Products

Increasing Business with Existing Customers 42%

42%

10%

15%

Prospect Profile

Disposable Medical Supply Distributor

 Multiple-practice physician office

 Internal medicine, family practice

 New practice less than 5 years

 Good credit history

 Currently purchases from a full-service

distributor

Siebel Systems, Inc.:

Opportunity Assessment

Is There an Opportunity?

1 Customer’s Application or Project

2 Customer’s Business Profile

3 Customer’s Financial Condition

4 Access to Funds

5 Compelling Event

Developing a Prospect List

1 Direct Inquiry

Advertising Direct Mail Trade publications Trade shows

2 Directories – Thomas Register

3 Referrals

4 Cold Canvassing

Qualifying Prospects

1 Needs for your products/services

2 Authority to make purchase

3 Credit rating & ability to pay

4 Rating scale applied to characteristics

by each salesperson

Siebel Systems, Inc.:

Assessing the Opportunity

Is There an Opportunity?

1 Customer’s Application or Project

2 Customer’s Business Profile

3 Customer’s Financial Condition

Managing Existing Accounts

Is the account too small?

Table 3-1 Computing the Cost per Call for an Industrial Products Salesperson

Compensation

Fringe benefits (hospital, life insurance, social security) $10,985 $80,020 Direct Selling Expenses

Calls Per Year

Sales Opportunity Management Key to Productivity

Breakeven Sales Volume

(Cost per Call) x (Number of Calls to Close)

Sales Calls as a % of Sales

Number of Calls Needed

to Close a Sale

Sales Costs as a Percentage of Total Sales Business Services $ 46.00 4.6 10.3%

Sales Opportunity Management Selected Break-Even Results

Now what?

Setting Priorities?

Methods for Setting Account Priorities

ABC Account Classification (Single Factor Model)

Account

Classif.

# of Accounts (1)

Total Accounts (2)

Sales (000) (3)

Total Sales (4)

Total Calls per Classif

(5)

Sales ($) per Call (6)

Totals 140 100% $1400 100% 700 $2000 (Avg.)

Problem Accounts

Accounts are Very Unattractive

Minimal Investment of Selling Resources

Customer Break-Even Analysis

How Dell Achieves Selling Efficiencies (Example of Sales Process Model)

5,000 Calls

500 E-Orders Orders 1,750

Big Difference?

When Systematic Biases

Are Likely to Exist

Source of Bias Salespeople Who… Are More Likely To

Customer Have low-sales potential,

demanding customers Spend too much time with them. Have customers with high

service needs or needs that the salesperson can’t meet

on his or her own

Focus on customers whose needs they can easily meet on their own.

Company Have territories with too

many high-sales potential accounts

Have low penetration or share as

a result of poor coverage.

Have little information about the potential of different accounts

Spend their effort where the current sales are highest.

Have very little cash compensation at risk in the incentive plan

Expend too little energy customizing sales actions for individual customers.

When Systematic Biases

Are Likely to Exist (cont.)

Source of Bias Salespeople Who… Are More Likely To

Salesperson Have difficulty handling

rejection and customer objections

Shy away from difficult accounts.

Are making good progress toward making quota Seek the high-probability, low volume account Have made quota relatively

early in the period Seek the low-probability, high volume account.

Time Allocation

Time Allocation

 As a salesperson for Strength Footwear, Inc., you have been very successful

 Your commissions are well over $70,000 a year

Demand for your product line is very strong, but so is

the demand on your time

 You work your territory 220 days a year and can make 4 calls a day The maximum number of times you need to see any account is every other week, but you need to

call on each account at least once a quarter

 To help you allocate your time according to sales results, you have gathered the following information on

customer sales:

Accounts Sales Last Year

Time Allocation: Customer Sales

Strength Footwear, Inc.

 Develop and justify a call schedule for allocating time across the 110 customers in your territory.

 What additional information

should you consider in allocating your time?

Time Allocation Analysis