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Opportunity Management: The Key to Greater Sales Productivity

Selling Today. 10 th Edition. CHAPTER. Manning and Reece. 16. Opportunity Management: The Key to Greater Sales Productivity. Increasing Sales Volume.

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Opportunity Management: The Key to Greater Sales Productivity

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  1. Selling Today 10th Edition CHAPTER Manning and Reece 16 Opportunity Management:The Key to Greater Sales Productivity

  2. Increasing Sales Volume “A salesperson can increase sales volume in two major ways. One is to improve selling effectiveness, and the other is to spend more time in face-to-face selling situations.”

  3. Opportunity Management A four-dimensional process involving: • Time management • Territory management • Records management • Stress management

  4. Time Management • Time-consuming activities • On average, 60 percent of time spent on administrative duties and travel • Log keeping shows where time is spent, identifies “time wasters” • Time management • Sound time management can lead to increased sales • Video on Covey Time Management

  5. Discussion Questions (Small Group) • What are the biggest time wasters in your life? Rank them in order from largest to smallest. • What are strategies you can employ now to make better use of your time?

  6. Time Management Methods • Develop personal goals • Prepare daily “to do” lists • Maintain planningcalendar • Organize selling tools

  7. Goal-Setting Principles • Reflect on areas where change is desired • Develop written plan—with steps • Modify your environment • Monitor behavior/reward progress

  8. TheTo-Do List 16.1 FIGURE

  9. Saving Time with Technology • Conference calls • Meetings in cyberspace (Web conference) • Some customers prefer telephone/e-mail contact • Cell phones/pagersas timesaving tools • Electronic filetransfers

  10. Territory Management Step 1: Classify Customers • Classify according to potential sales volume • Track current dollar amount and potential dollars • Realize a small amount of customers may provide a majority of sales volume

  11. Territory Management Step 2: Develop Route/Schedule Plan • Map territory/use smaller zones if large • Develop routing plan for a specific time frame • Schedule around customer needs • Establish tentative calls • Use 80/20 rule

  12. 80/20 Rule • 80 percent of time spent calling on most productive customers • 20 percent on prospectsand smalleraccounts

  13. Sales Call Plans • Action plan initiated by sales manager • Ensures efficient and effective account coverage • Plan discussed with sales staff

  14. Sales Call Plan 16.3 FIGURE

  15. Records Management • Some complain about “paperwork” time • Accurate and timely records are important • Facilitates closing salesand improves customerservice

  16. Common Record Types • Customer and prospect files • Call reports • Expense records • Sales records

  17. Application: Computers • Most firms provide sales staff with portable computing power and sales management software • If necessary, use a database or spreadsheet program and create your own • PCs and PDAs allow you to increase selling time and enhance customer service

  18. Small Groups • CASE STUDY PP 398

  19. Stress Refers to two simultaneous events: • An external stimulus (a stressor) • The physical and emotional responses to that stimulus: • Anxiety, fear, muscle tension, surgingheart rate Too much stress unhealthy if unchecked!

  20. Stress Management • Develop stress-free work environment • Maintain optimistic outlook • Practice healthy emotional expression • Maintain healthy lifestyle More on stress management by:mindtools.com

  21. Discussion Question (Small Group) • List several things in your life that are causing you stress. • What can you do to reduce the stress caused by each of those things?

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