Reference no: EM132179343
PROJECT PURPOSE
It has been said that successful selling is 90% preparation and 10% presentation. Planned presentations tailored to the needs of the client enjoy a much higher success rate than unprepared and/or canned presentations.
As a salesperson you are required to know detailed information about the company you work for, the product you are selling, the competition and, of course, your customers.
This information can come to you in part via a sales manual provided by your employer. The balance you acquire from training and on-the-job experience.
Often though, nothing is available and the onus is on you, the salesperson, first to find the information and then to prepare your own manual. Even if a company prepared manual is available to you, in order to be successful, you must add your own information about clients and techniques that work for you.
PROJECT DESCRIPTION
The term project in this course is an exercise whereby you will prepare your own sales resource manual. Although not mandatory, it is preferable to have your sales manual written around a product or service that you feature in one of your sales presentations. Regardless, the manual must be prepared for a professional business sales situation (i.e., B2B).
The process of collating all the information will be beneficial to you - first as a means of re-enforcing the sales process and second as a review mechanism. Work on your sales manual should begin early in the term and should become part of your weekly work assignment.
You are required to notify your instructor in writing of your choice of product/service for the manual early in the course.
EXPECTATIONS FOR SALES RESOURCE MANUAL
The form your manual takes is somewhat flexible; however, it should include the following areas at a minimum:
1. Company:
• History - how long in business.
• Financials -information on gross revenues and projected growth if available, credit policy if relevant.
• Organization - what differentiates this company in the marketplace (competitive advantage)?
• Social Selling - document what they currently doing on at least two social platforms (LinkedIn should be included) then provide a detailed recommendations to improve their social selling systems. i.e., what types of content should they be creating to engage prospects and existing customer and where should
they post it?
2. Product:
• Describe what product or service with a brief history; how has the product evolved, three primary features and associated benefits, pricing strategy, discounts offered, distribution channels
• See Tables 6.2 and 6.3 on Features and Benefits
3. Target Market:
• Provide a brief profile of typical B2B customers; outline the major segmenting variable between B2B customer groups
• Customer Journey Map: an outline of the typical path or steps a prospect would follow when looking for a new supplier. From initial contact to becoming a loyal customer. What staff are involved (touch points) guiding prospect through this process. A list of steps or flowchart. Provide explanations where helpful.
4. Competition:
• Name at least two companies that directly compete with yours and list brand names mentioning at least three main strengths and weaknesses.
• List one or two indirect alternatives to your product.
• See Table 7.1 Competitive Analysis Worksheet
5. Prospecting: Qualifying and pre-approach information
• Provide at least twelve (12+) Qualified Leads: Create a list of ideal prospects -- such as decision makers name, company website, contact information (email and phone) and why you think they are a good prospect.
• See Table 10.1 Business Contact Worksheet
6. Need Discovery Questions:
• Develop at least ten (10) thought provoking questions along with reasoning for each question.
o For each question, what resulting information will be useful in the sales process?
o These questions should help build a deep understanding of what challenges prospects face and to uncover opportunities.
• See Table 11.2 Need Discovery Worksheet
7. Dominant Buying Motives:
• State two typical buying motives of target customers. See pages 188-189 in Chapter 8.
8. Demonstration Details: What to demonstrate, what to say and do...
• Create a step-by-step checklist of what does an ideal demonstration looks like. Include what specific visuals, props, or other selling tools they can use. State three methods of engaging client.
• See Figure 12.4 Demonstration Worksheet
9. Objections: Major ones raised, and ways to handle them
• List three primary objections you anticipate they may encounter in the marketplace and how they can handle them
• See Figure 13.3 Negotiations Worksheet
10. Closing: Clues and successful closing techniques.
• Suggest two closing techniques with specific examples related to their situation based on type of business.
• See Figure 14.3 Closing Worksheet
11. Servicing: What actions/plans are necessary to service and maintain accounts over the long term?
• List two recommendations to service and maintain the account over time.
• See Figure 15.3 Servicing the Sale Worksheet
12. OTHER Any other information you believe is relevant to successfully selling this product.
• For example, a Sales Journey Map to map out all touch points from the sales person's perspective:
o include any supporting rolls other staff play in sales process.
o How long is the typical sales cycle?
o A flow chart or list of steps along with
explanations is a good method of mapping.