Gaining a Competitive Edge in Today’s Sales Environment

1. Gaining a Competitive Edge in Today’s Sales Environment With focus on sales processes, team-selling and the proper use of technology. Presented by: Brian Gardner, President

2. Thank you for your time.. My Goals for this QUICK session: • Stimulate your thought process with regards to your company’s sales methods • Share some of my thoughts and insight that might help you and your sales team as you move forward in today’s competitive sales environment.

5. Questions to think about • Who here is not trying to do more with less? • What is your company’s competitive advantage today vs. yesterday, last month, last year? • Does your sales team have a competitive edge? • Do you feel you can continue doing the same thing and grow your business? • What steps have you taken to gain that competitive advantage for your company and your sales team?

6. What is your company’s competitive Edge? Any Volunteers?

7. Gaining a Competitive Edge • What is your company’s COMPETITVE EDGE? • People • Products • Service • Experience • Etc…. • If I were to ask your competitor the same question what answers would I get?

8. Gaining a Competitive Edge The Same So what truly gives you a Competitive Edge? We will get to this in a minute

9. Gaining a Competitive Edge • We are forced to do more with less today • Market conditions are? • We are typically reactive vs. proactive due to the nature of this business • We hate change but……. • Who here believes if they don’t change (for the better) they will be more successful in the future?

10. Gaining a Competitive Edge • I believe that with the market condition, companies who don’t change the way they are using technology and focus on sales process improvements, are going to be the companies on the outside looking in. • “If you want the same results, keep doing the same thing” • If you want different results, then do …..” • Definition of Insanity “Doing the same thing over and over and expecting different results”

11. Gaining a Competitive Edge So back to the question What is your company’s competitive edge? The Same

12. Gaining a Competitive Edge I believe there are TWO key areas within your business that you can FOCUS on and CONTROL that can give your sales team a competitive edge. 1. Put focus on the “Front End” of the sales process with the use of technology. 2. Share and leverage the internal “Knowledge” inside your company and SALES TEAM. Key Take Away!

13. Gaining a Competitive Edge • From the sales perspective don’t just implement technology for the sake of technology. • This is where a lot of sales companies fail. • Go into this with a focus on improving sales processes using technology as the conduit. • Key: Sales Process focus first!!

14. Quote Follow up Review Quote w/customer Presentation Funding approval Develop sponsors Follow up Front Back Form team End End Identify competition Identify decision makers Orderreceived Develop strategy Justify Fulfillment opportunity Shipping/Invoicing Dive into the Sales Process First the Sales Cycle

15. Sales Cycle Management Sales Cycle Which Part of the Cycle is your company Managing? 1 2 or 3 critical Opportunity Quote Order time

16. Sales Cycle Management Sales Cycle 1 2 3 critical Opportunity Quote Order time Most companies think that they are at #1 in the Cycle, but in reality they are at #2 or even #3.

17. Sales Cycle Management Sales Cycle 1 2 3 critical Opportunity Quote Order time The Opportunity stage of the sales cycle is the most critical for increasing your probability of getting the order.

18. Sales Cycle Management Sales Cycle 1 2 3 critical Opportunity Quote Order time • You are reactive, not proactive • You realize lower margins • Hit rate decreased = wasted time and money • You are on the outside looking in

26. Sales Cycle Management Do you know what is in your company’s funnel that will close this month? (with accuracy) Do you know how many new opportunities ($)were loaded into the funnel this month? Do you know how much was put in by: • SalesRep • Product • Territory

27. Front-End Loading Exercise Pick a Sales Goal or Quota Category Ex. Company, Territory, Product, Salesman Sales Goal = Base Business + (New Opps * Hit Rate) (Load) Goal: ________ Base Business: ________ Hit Rate on New Opportunities: ______ Load = Goal – Base Load = 1,500,000 – 500,000 ------------------ ------------ Hit Rate 25% Load = $4,000,000

28. Gaining a Competitive Edge Can be pretty scary when you really start thinking about it and put pen to paper….We have to keep our eye on the ball and that ball is the activities at the “Front End” of the sales cycle that drive sales. Questions/Comments

29. Gaining a Competitive Edge OK that was the #1 thing you can do to gain a competitive edge. Move your focus to managing the “Front End” of the sales cycle. Any Questions or Comments?

30. Gaining a Competitive Edge The #2 thing you can do to gain a competitive edge Share and leverage the internal “Knowledge” within your company and sales team.

31. Gaining a Competitive Edge What I see in the market today is ISLANDS of DATA within the sales and marketing team

32. Gaining a Competitive Edge Islands of Data • Using Outlook for email • Word of letters • Winfax for faxing • Excel spreadsheet for reporting • Call reports in Word or Excel • Stand alone contact management programs (ACT!, Outlook, Goldmine, etc.) • Quote log in a book or worse no log • Access database for logs of some sort • Any others that I missed?

33. Lost Knowledge Excel-Reports Outlook Word-Letters Mgmt Word-Call Reports Faxing Islands of Data Outlook Outside Sales Inside Sales Outlook Act Word- Quotes Excel-Forecasting Word-Trip Reports Access-Leads Mktg Service Outlook Excel-Reports Outlook

34. Gaining a Competitive Edge • Lost Knowledge • Wouldn’t it be nice if your team was working in one system sharing and leveraging the knowledge from the “Front End” of the sales cycle. • So instead of the those “Islands of Data” it could look like this.

35. Marketing Inside Sales Sales Reps Information Service Mgmt Help Desk Shared and Leveraged Knowledge

36. Gaining a Competitive Edge • What is this lost (not leveraged) knowledge costing your company? Any Questions or Comments?

37. Gaining a Competitive Edge Ask yourself the question: • “In today’s economic condition and competitive marketplace, can you afford not to better manage the “Front-End” of the sales cycle as well as put in systems to share and leverage information within your sales team? Question I always ask is: • Why will companies pour BIG $ in back-end systems, but will not invest a fraction of time and $ on a “Front-End” Systems for the sales team?

38. Gaining a Competitive Edge Reasons I hear why companies will not invest in Front End systems within their sales team: • “I don’t have time” • “My accounting system gives me all the info I need” • “ I am already doing it I have a quote log” • “ Our sales team is using contact management software” or Outlook. • “ I can’t justify the expenditure’ • “Sales and economy down, I can’t afford to at this time” • “My sales team want do this nor will they change what they have been doing for all these years.”

39. Main Reason to Bring into your sales team (front end focus and system to leverage knowledge) • Increase quote to sales ratio, thus increasing sales and gross profit • Leveraging the knowledgebase in your company • Efficiency of your sales team • Helps put focus on the sales opportunities your team has a chance of winning. • Effective communication • Staying ahead of your competition • Improving documentation (Putting everyone on the same page) • Having processes to better manage the part of the sales cycle that drives your business

40. Functions and areas this should address for your Sales Team • Contact Management • Opportunity Management • Detailed Project Management • Quoting and Quote Management • Scheduling (Appointments and To-Do’s) • Forecasting • Reporting • Communicating with your channel partners

41. ROI and Justification • Losing someone on your team (Walking Knowledge) • Increased efficiency of work flow (1 touch) • Time spent on forecasting and reporting • Quote Management (ex. 1% increase) • Lead Management (Big) • Project Management (Long Sales Cycles) • Documentation and history for new hire • ?? • Each company has their own justification

42. Elements for a Successful Implementation • Understand going in there will be a change • Communicate to the TEAM the reasons and benefits for the TEAM. • Must be driven and lived by management • Communicate and document company standards • Start slow and grow • Commitment to training • Determine the sales process improvements this technology will improve

43. Summary • Set the expectations • Train on the expectations • Monitor the input of the expectations • This can give you a competitive advantage in today’s market place!!!!!

44. Final Words 2 last things to leave you with: • Focus on improving the ‘Front End’ of your business. • Focus on sharing and leveraging the internal KNOWLEDGE inside your company and sales team.

45. Thank you for your time Brian Gardner Selltis LLC Phone: 985-727-3455 Email: Brian.Gardner@selltis.com