...This year, Mercedes Benz is offering a new four-door sedan known as the CLA. They released commercials targeted for Super Bowl audiences that really caught my attention. Neither commercial is about the car's performance, ride comfort, or its gas mileage. Initially, I could not understand my attraction to the first commercial but then it hit me… nostalgia. It was hard to put my finger on because that nostalgia lay wrapped in a superficial layer of modernity. I found it entertaining and found that it conveyed a message to me. As for the second commercial, I was left a little confused and not very impressed. For the advertisers to hit the mark so clearly on one commercial but miss the mark so widely on the second, did not make sense. The commercial titled "Soul" begins in the timeworn French Quarter café, The Napoleon House, which according to their website got its name when, "Nicholas Girod, was mayor of New Orleans from 1812 to 1815. He offered his residence to Napoleon in 1821 as a refuge during his exile." just before his death in 1821, "Napoleon never made it, but the name stuck"(Unknown 2013). The dining room is filled with the primitive, Candomblé rhythm of the Rolling Stones' "Sympathy for the Devil", pouring in torrents from the early 1950s Seeburg Select-O-Matic jukebox, as the actor peers out a window admiring a billboard of the new Mercedes Benz CLA. Even though the main actor in the first commercial is a young man, I believe that it becomes part of the...
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...WISDOM IN A NUTSHELL DISCOVER YOUR SALES STRENGTHS How the World’s Greatest Salespeople Develop Winning Careers By Benson Smith and Tony Rutigliano Warner Business Books ISBN 0-446-69037-6 244 pages BusinessSummaries.com is a business book summaries service. Every week, it sends out to subscribers a 9- to 12-page summary of a best-selling business book chosen from among the hundreds of books printed out in the United States every week. For more information, please go to http://www.bizsum.com. Discover Your Sales Strengths Page 2 Web Site of the book: http://www.gallup.com/publications/sales.asp www.bizsum.com © 2001 - 2003 Copyright BusinessSummaries.com Discover Your Sales Strengths Page 3 THE BIG IDEA A huge number of books have been written about sales and finding one’s road to success in achieving exceptional sales performance. Like fresh-off-the-press diet book bestsellers, they promise spectacular results, but lasting improvement in the end is still hard to find. This book identifies the many myths associated with exceptional sales and explains how believing them may negatively affect one’s performance. It will also show how important it is to fit one’s talents into the right job, whether it be as sales representative or sales manager. THE GREAT SALES MYTHS Doctors tell us that kidney stones are one of the most painful medical conditions human beings may suffer from. These small calcium fragments form in the kidney and eventually...
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...Do you know who your best sales people are? Article of Harvard Business Review Dec 1, 2010. Lynette Ryals and Lain Davies argue in their article despite the increase in the number of sales people taking on greater roles of business development and relationship management, they do not seem to be giving their best to achieve better results. To get a better picture, Lynette and Lain closely watched around eight hundred sales professionals during their live meetings which when completed brought to light eight different sales type. Among the eight just about three sales people were consistently successful in producing a desired result. The rest did not perform up to the mark. Lynette and Lain conducted a survey according to which the percentage of sales meetings conducted which successfully ended up with a sale came up to just about 9.1%. Salespeople who always were performers and exceeded their targets was just one out of every 250. Lynette and Lain identified seven behaviours, out of which only four were related to sales success. By mapping how salespeople relied on each behaviour, they came across eight types of salespeople. These eight different sales typewere categorized into two groups out of which the Experts, Closers and the Consultants were placed in the first category called The Best. The Storytellers, Focusers, Narrators, Aggressors and Socializers fell in the next category called The Rest. The effective skill set related to a success sale consists of rising...
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...Managing your Major Sales - 7 Steps that could change your Business Mike Wilkinson of Axia Value Solutions looks at ways of improving performance, lowering costs and building profitability Ever lost a sale you thought was in the bag? Not an unfamiliar feeling for many businesses large and small. No matter how good you think your product or service is, everything finally boils down to your ability to convince others that it is good for them. It is all about getting the decision makers who matter to say "Yes". In major sales the whole approach is fundamentally different to small scale selling and requires a very different set of skills and techniques. Being competent in the small, simple sale is no guarantee of success in larger scale selling. The traditional techniques and "tricks of the trade" such as closing don't seem to work in quite the same way in the more complex large scale sale. They are replaced by precise planning, information gathering and behavioural skills that build trust in the minds of the decision makers. Fundamental to this is the development of a detailed understanding of how decisions are made in your target customer and who the key players are. So what constitutes a major sale? For most businesses they have a number of characteristics: 1. A lengthy sales cycle. This can vary from a few days to a few months or more depending on the industry. 2. Multiple decision makers. Any decision becomes complex as soon as more than one person is involved in making it...
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...1 out of every 200 such orders is never collected. The required return is 2.5 per cent per period. Q1) Assuming that this is a one time order, should it be filled? The customer will not buy if credit is not extended? Q2) What is the break-even probability of default in port (a)? Q3) Suppose that customer’s who do not default become repeat customers and place the same order every period forever. Further assume that repeat customers never default. Should the order be filled? What is the break even probability of default? Q4) Describe in general terms why credit terms will be more liberal when repeat orders are a possibility. CASE STUDY : 2 Taper Corporation shows the following information on its 2007 income statement. Sales = Rs 1,62,000/-; Cost = Rs 93,000/-; Other Expenses = Rs 5,100/-; Depreciation Exp = Rs 8,400/-; Interest Expenses = Rs 16,500/-; Taxes = Rs 14,820/-; Dividends = Rs 9,400/-. In addition you are told that the firm issued Rs 7,350/- in new equity during 2007 and redeemed Rs 6,400/- in outstanding long term debt. Q1) What is the 2007 operating cash flow? Q2) What is the 2007 cash flow to creditors? Q3) What is the 2007 cash flow to stockholders? Q4) If net fixed assets increased by Rs 12,000/- during the year, what was the addition to NWC?...
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...Transforming Your SALES CULTURE By Mike Brooks t some point in a company’s development, it becomes a priority to focus on and possibly change the existing sales culture. This need to change can be driven by many factors, including slumping or declining sales numbers. Alternatively, a change in focus may occur, from a customer-service-orient- ed sales team taking inbound leads to a more direct-selling model in which outbound calling becomes a prior- ity. Or perhaps there is a change in direction, such as a focus on growing new accounts. Sometimes a total transformation is in order, whereby an entirely new sales methodology is required and selling systems, processes, and other key sales drivers are developed and implemented. Regardless of the change, and in spite of the work necessary, one common challenge remains consistent: getting buy-in from your existing sales team to adopt and implement the skills, processes, and procedures needed to make the change successful. THE PROBLEM IS WITH PEOPLE, NOT PROCESSES Changing processes and proce- dures is relatively straightforward; changing the attitudes and actions of experienced sales reps isn’t. Those of you who have been involved in managing or directing a sales team know firsthand the resistance reps exert against changing the way they sell. Even when their current sales skills are ineffective, sales reps are reluctant to try something different. Many sales reps resist a...
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...Evaluating your current sales force is an important step in the process of deciding whether and how to grow your sales team. If your existing sales force is fine and will be more than adequate to fuel future growth, you can keep the number of people the same and simply add some additional training or perhaps a revamped compensation package. On the other hand, your sales force may need to grow by a few heads, or you may choose to stay the same size but have different people filling the sales positions. Step one in evaluating your sales force is to decide what you want it to do for you. For some companies that do most of their selling through mail order or the Internet, a sales force is strictly an option. In this case, you may expect your sales force to handle only the larger accounts, leaving the smaller orders to customer service personnel and order-takers. For other companies, however, the salesperson is the most visible-and perhaps the only--outward manifestation of the company seen by customers. This type of salesperson carries a heavy load. He or she has to uphold the company's image, hold the customers' hands, interface with delivery and repair departments at headquarters, and, of course, get the sale. It won't require a lot of thought for you to come up with a good description of what you want your sales force to do. Make sure you're not evaluating your sales force based on some other company's needs. For instance, if your salespeople are primarily charged with following...
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...success within your business. * The audience for your business plan Many people think of a business plan as a document used to secure external funding. This is important because potential investors, including banks, may invest in your idea, work with you or lend you money as a result of the strength of your plan. There are many other benefits to creating and managing a realistic business plan - even if you just use it in-house. It can: * help you spot potential pitfalls before they happen * structure the financial side of your business efficiently * focus your development efforts * work as a measure of your success The following people or institutions may request to see your business plan at some stage: * banks * external investors - whether this is a friend, a venture capitalist firm or a business angel * grant providers * anyone interested in buying your business * potential partners You should also bear in mind that a business plan is a living document that will need updating and changing as your business grows. Regardless of whether you intend to use your plan internally, or as a document for external people, it should still take an objective and honest look at your business. Failing to do this could mean that you and others have unrealistic expectations of what can be achieved and when. * What the plan should include Your business plan is a statement of intent. It should provide details of how you are going to develop your business...
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...Sales Support: Computer-Aided Selling (CAS) Release 4.6C HELP.SDCAS Sales Support: Computer-Aided Selling (CAS) SAP AG Copyright © Copyright 2001 SAP AG. All rights reserved. No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP AG. The information contained herein may be changed without prior notice. Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. Microsoft , WINDOWS , NT , EXCEL , Word , PowerPoint and SQL Server are registered trademarks of Microsoft Corporation. IBM , DB2 , OS/2 , DB2/6000 , Parallel Sysplex , MVS/ESA , RS/6000 , AIX , S/390 , ® ® ® AS/400 , OS/390 , and OS/400 are registered trademarks of IBM Corporation. ORACLE is a registered trademark of ORACLE Corporation. INFORMIX -OnLine for SAP and Informix Dynamic Server Informix Software Incorporated. ® ® ® ® ® ® TM ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® are registered trademarks of UNIX , X/Open , OSF/1 , and Motif are registered trademarks of the Open Group. HTML, DHTML, XML, XHTML are trademarks or registered trademarks of W3C , World Wide Web Consortium, Massachusetts Institute of Technology. JAVA is a registered trademark of Sun Microsystems, Inc. JAVASCRIPT is a registered trademark of Sun Microsystems, Inc., used under license for technology invented and implemented by Netscape. SAP, SAP Logo, R/2, RIVA, R/3, ABAP, SAP ArchiveLink,...
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...42 Ken Krogue insidesales.com Jamie Shanks 42 LinkedIn Inside Sales Tips By Ken Krogue and Jamie Shanks IntroductIon 42 The 42 LinkedIn Inside Sales Tips eBook is designed to help you drive new business. You’ll learn critical practices to help you connect better with prospects and customers and increase revenue. Traditional selling channels of email and phone are tried and true, but LinkedIn and other social channels can greatly increase sales performance. Here is a preview on just one of the powerful tips — did you know LinkedIn performs 7 times better than email in some cases? Get social and leave old school selling in the dust. These 42 tips were originally presented by Ken Krogue and Jamie Shanks as a webinar which you can watch here. LInkedIn Is out-pulling email 7-to-1 InsideSales.com | Sales for Life Share this eBook: LInkedIn cheatsheet Jamie ShankS TipS 1 be a tHouGHt leader 7 folloW ‘Hot ProsPects’ 8 timiNG WitHiN folloWers 9 timiNG WitHiN siGNals 10 attack folloWers 11 iNsiGHts iNto tHeir busiNess 2 drive oPPortuNitY 3 tHe secrets WitHiN GrouPs 4 skills as a seo HuNtiNG tool 5 save Your iNmails 6 ‘Hot ProsPects’ iN GrouPs ken krogue TipS 12 Grab Your Name 13 use a Good Picture 14 comPlete Your Profile 15 make Your WeddiNG/fuNeral list 16 coNNect to Your customers 17 folloW Your customer’s comPaNies 18 coNNect to Your emPloYees 19 Have a PoiNt PersoN 20 coNNect to Your ProsPects 21 resPoNd bY email tHeN coNNect 22 coNNect at trade sHoWs...
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...Branded Sales Forecast Explanations — Information on Rules/Procedures — Suggestions and Tips This screen is exceptionally important and, properly used, is a very powerful tool for making shrewd decisions. It should always be your starting point for making upcoming-year decisions because the number of branded pairs you anticipate selling drives how many pairs to produce and ship. Without a reasonably reliable forecast of how many branded pairs you can expect to sell, you are not really prepared or ready to move on to entering decisions on the plant operations and shipping screens (or any of the other screens for that matter). The Logic Underlying the Branded Sales Forecast Screen While the Branded Sales Forecast screen admittedly looks complicated and requires a bunch of entries, the logic underlying the sales forecast entries is fairly straightforward: • Your entries in the four columns headed “Company __’s Marketing Effort” represent tentative values for your company’s marketing effort for the upcoming year in each of the four geographic regions. Think of the entries as “preliminary” or “trial” decisions that represent “what if we do this to try to sell branded pairs in this region.” The numbers already in these columns when you first come to the screen are the decisions your company made last year and represent the competitive marketing effort your company employed to achieve last year’s branded sales volumes and market shares in each geographic region. • Your entries...
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...4. Sales force turnover 5. Plant relocations 6. Product line changes 2. What mistakes were made in the walker territories realignment? This is reasons for realignment 1. A change in sales force size 2. A change in sales force structure 3. Mergers and acquisitions 4. Shifts in market opportunities 5. Demographic shifts 6. New Products 7. Need to shake things up 3. What options are available to make territory changes work? * Change in the Size of the Sales Force (expansion or contraction) – A sales force of 8 sales reps will undoubtedly split up a territory differently than a sales force of 18. As your organization’s staff size changes, you must take into account the effect it has on your sales territories. After you implement a couple short-term fixes to accommodate for fluctuations in your sales force, territories can easily get out of alignment. Don’t put off a full redesign for too long if you’ve been doing some hiring or firing. * Change in the Products or Services Offered – If your organization launches a new product or service, this can have huge effects on the alignment and balance of your sales territories. What happens if one territory has a greater demand for this new product? All of a sudden that territory needs more representation from your sales force. You also may need to shuffle your sales reps around depending on product expertise. As we’ve discussed before, it’s crucial that clients view your sales reps...
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...is important for a marketing plan to: * set clear, realistic and measurable targets - for example, increasing sales by 10 per cent * include deadlines for meeting targets * provide a budget for each marketing activity * specify who is responsible for each activity Make sure you think through each of your objective logically. For example, you might set a target for the number of new enquiries. But if you don't provide the resources and training to turn these enquiries into sales, you will have increased costs without any benefits. Link to your strategy Assess the business environment to identify the opportunities and threats that you face. Look for where you can capitalise on your strengths or where you need to overcome a weakness. All parts of your business must work together. For example, if you have limited cashflow you should avoid seeking large orders from customers who demand extended credit or that will involve you in heavy, up-front costs. Remember to focus on your long-term strategy. Reducing customer service might boost short-term profits, but next year you might not have any customers left. Make it happen A plan will not happen by itself. You need to make someone responsible for monitoring progress and chasing up overdue activities. Reviewing progress will also help you learn from your mistakes so that you can improve your plans for the future. Structure of a marketing plan Introduction Marketing is a key part of business success...
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...management can tell the full story about a business. The more adept management is at explaining financial ratios to their Investors/Lenders, the better they will understand your business. Key Indicators with their definitions, formula and analysis comments are discussed in the following pages: Page 2 Liquidity: Financial ratios in this category measure the company's capacity to pay its debts as they come due. Current Ratio Quick Ratio Page 3 Safety: Financial ratios in this category are indicators of the businesses' vulnerability to risk. Creditors to determine the ability of the business to repay loans often use these ratios. Debt To Equity Debt Coverage Ratio Page 4 – 5 Profitability: The ratios in this section measure the ability of the business to make a profit. Sales Growth COGS to Sales Gross Profit Margin SG&A To Sales Net Profit Margin Return On Equity Return On Assets Page 6 - 7 Efficiency: Also called Asset Management ratios. Indicator of how efficiently the company manages its assets. Days In Receivables Accounts Receivable Turnover Days In Inventory Inventory Turnover Sales To Total Assets Days In Accounts Payable Accounts Payable Turnover LIQUIDITY Financial ratios in this category measure...
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...Paper: Sales Management Practice Timothy M. Smith Marketing 4030: Sales Management Purpose This term paper exercise is designed to have you study the specific sales practices of a company of your choice. You are to study a company directly, that is, by personally interviewing one or more key executives (for example, the regional sales manager). This will be a group project. You will select a company for your study according to several criteria: 1. Personal interest : your group finds the company intriguing 2. Convenience: a family member, friend, or a member of your group can provide access. 3. Availability of supplementary library material: Is the company one that the business press writes about? Whatever your reason, the selection of your company is up to your group. Important Concepts The following is a format for constructing and presenting your term paper on Sales Management Practice. Please remember that your own creativity and style are critical in any report. C ompany and Industry Background: Describes the context in which the sales function operates. Includes a brief company history, a description of company objectives, management philosophy, strategy, etc. You must do a library search on the industry and compan y and present an original strategy overview relevant to the sales position (in other words, identify key marketing strategies and the role of personal selling within them). Description of the Sales Manager's...
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