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Strategic selling process
The document discusses various topics related to sales and business management. It provides guidance on developing customer relationships, understanding customer needs, selecting target customers, managing sales targets and time, and retaining existing customers. Some of the key points include selecting high-value customers according to volume, profitability, and strategic fit; understanding customer decision factors and pain points to develop offers; focusing time on high-priority accounts while maintaining relationships with others; and ensuring customer satisfaction to support retention and expansion. The overall message is on developing a strategic and customer-centric approach to sales.
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Strategic selling process
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- 2. We’re competing everyday. We work hard for our success and personal satisfaction.
- 3. How do youfeel when you win?
- 4. And how doyou feel when you failed? Volume 2000000 1800000 1600000 1400000 1200000 1000000 800000 600000 400000 200000 0 2000 2001 2002 2003 2004
- 5. But we’ve gotonly one option! We must win. FUCHS’ No. 1
- 6. Is there ashort cut for Success? Learn from other people’s Successes and Failures. No time for failure so No need to put your self On trial.
- 7. Why We can’tsell? Because customers don’t buy. Why? Your offer doesn’t meet their expectations. Too expensive? Poor quality? No OEM approval? Poor after-sales services Poor brand reputation? Good relationship with current supplier. Company policy. They don’t see the benefits buying from you. You offer what they don’t want. We haven’t sell yet!
- 8. What is selling? “Salesis helping the customers to buy” Helping them to make up his mind based upon the satisfaction of his needs. Sales is always going for “Win - Win” or “No Deal”. That means that it is the salespersons responsibility to ensure that both he and the customer wins on the deal. If the salesperson finds that he is about to conclude a deal where he is winning but the customer is losing, the deal should be scrapped.
- 9. Can we sellwithout selling? MAKE THEM WANT TO BUY FROM YOU! Be Friendly The first step is to start from a friendly perspective by getting to know who your customers are and what they need and want by asking questions. Show Empathy Next, prove that you understand and have empathy for their concerns by echoing their frustrations. Share a personal story of your own experience with a similar problem and tell them how you were able to solve that problem with the product you are about to endorse. Be Honest Above all, be honest. No product is perfect, so a 100% positive product endorsement will be met with skepticism and resistance by your readers. So, be sure to point out any minor shortfalls and limitations. Alternatively, consider comparing and contrasting two different products to give your customers a variety of options from which to choose.
- 10. Why do peoplebuy things? Needs – some things you cannot live without. Wants – some things you can live without. Are we the only supplier in the market? NO! Why do they have to buy from us?
- 11. Why does thecustomer has to buy from you? Because you offer something different and better than your competitors.
- 12. Decision making Factors Emotion (Feeling) Design/Color/packaging Brand Personal satisfaction/Good feeling to have Self differentiation Self perception Reason Quality Price FIND OUT what are the key Services decision factors of your customer Availability Ease of use
- 13. How the businessdeal is done? This guy thought that I think she likes me I like him. I actually need his order.
- 14. How the businessdeal is done? Both parties get benefits. Customer get the good product at the reasonable price with additional other value added after- sales services. Seller can sell product with reasonable margin and reasonable demanding on services.
- 15. Sales Cycle? Howlong does it take to close sales? 1 day 1 week 1 month 1 year or even longer? Do you know what are the factors affecting sales cycle?
- 16. Sales Cycle? The rightstrategic sales approach will help shorten the sales cycle.
- 17. Sales Funnel Identify who is your potential customer. Evaluate the potential size of the business. Collect information and identify needs. Identify benefit offering that match prospect’s needs. Put together proposal with measurable benefits. Present your benefits to the prospect and seek for the agreement on the benefit. Then ask for the order.
- 18. Pareto's Principle -The 80-20 Rule If this is true you need more prospects in your bank account.
- 19. First Meeting RememberFirst meeting is very important How would you like your customer to remember you is up to how you present your self to them. First meeting first impression. Presence in the professional manner Dress properly Make the customer know that you know their business so prepare information about your prospect business Sell the company first, your self as second and the products last.
- 20. Preparation for thefirst meeting with customers Dress properly Personality/professional manner Company profile information Product information/Pricing Application information and reference customers Customer business information Questionnaires to explore for more information
- 21. Collecting information Customerbusiness Their success factors Current products in use/Price/Supplier Services from current supplier Problem issue with current product/supplier Customer production/machine info/application of lubricants Customer’s expectation Customer decision making process (who is who in decision process?) Customer decision factors(price/quality/service/approval?)
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- 23. Understanding Customer’s Needs Listen carefully Ask questions Re-check/re-confirm our understanding Formulating the offer with customer need Quantify the benefits and the profit Re-confirm with the customer if the offer meets their needs Finalize the offer Convince for the order
- 24. Where to findcustomer info Industrial estate office Survey of your territory Internet websites Newspapers/magazines
- 25. Customer Selection You want to eat big fish or small fish?
- 26. Results of poorcustomer selection Waste time and money for account maintenance Poor profitability Lost of strategic business direction Stock issue, high number of SKU with small volume and extra effort to manage High delivery cost High service cost Extra work load for invoicing and collecting money cause extra operating cost low profit less bonus And more..
- 27. Customer Selection Criteria Justifiable volume? Sales cycle time? Too long? Profitable business? Barriers? OEM a/pproval/very low price Risk of bad debt Fit with our strengths/expertise? Have resources to support the business? Product availability/volume/lead time? Customer behavior/decision criteria? Strategically fit? Low volume but good reference/high profitability? Don’t waste your time with non-target prospect!
- 28. Customer Value MetricsCriteria High Value Customer Medium Value Customer Willing to Pay the Price Price is important OUR TARGET Products & Services Needs to justify everything Looking for continual Improvement Does not necessarily want radical Asks not tells change. Long term focus Will listen to opportunities but is Has Self Evaluation Metrics Subject to the opinion of upper Pays the Bills management Innovative Takes Risks Upper Management Participation Low Value Customer Poor Selection Customer Price is first evaluation Enjoys the quoting process PS Wants all of the benefits and Price & Price Only Is not willing to pay for any Of the benefits just wants it all Slow Pay What have you done for me lately Looking for the next deal What have you done for me lately
- 29. Time Management Youneed to make sure that you spend your time wisely each month. Know when to call for an order. Many customer could not accept delivery after date 25th. Some festive months have less number of working days. Spare you time (few days/month) for surveying new markets/prospects and make a sales call to new prospects. Keep adding new prospects on the list. Collect the checks on due dates. You can manage some small accounts by telephone. Spend more time with the key accounts and less time with small accounts but you must meet or talk to all of them every month.
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- 31. Customer Retention Alwaysensure customer satisfaction Product quality On time delivery Consistent after-sales services Fast respond to customer inquiry/problem It is team effort activity not just sales function’s job It requires efficient internal communication and cooperation. It is much easier to maintain and expand business with existing customers than finding the new ones.
- 32. Why a salesrep failed to sell?
- 33. Customer Management Keyaccounts Team approach (sales/technical/logistic/finance) Face to Face meeting/visit 2 times/month Extra service (condition monitoring/training/joint develoment project) Account info update to the team Medium size accounts Sales rep as team leader with team support Face to Face meeting at least once a month Account info update as necessary Look for the expansion Small size accounts Sales rep and customer service rep follow up order A short time visit or telephone follow up Minimal or no on-site after-sales services
- 34. Target Management We all expect higher income every year. Volume Year
- 35. Where the newvolume come from? Expanding: Existing customers Re-gain: Lost customers New opportunity: Prospects It is much easier to sell more to existing accounts Or to re-gain lost accounts than selling to the new Prospects. Check your bank account! Do you have enough stock of prospect/projects? Keep topping up the list.
- 36. Target Management Your Growth Your new businesses Expectation • New prospects/existing accounts/lost accounts • Keep adding new prospects • Total Target Get the top 10 projects move ahead • Total potential net contribution of top 10 projects must be at least 3 times larger than the gap • Get helps from your supporters Your Your Existing businesses Volume • • Ensure your customer satisfaction Maintain your good service base • Monitor sales by accounts by products on Weekly basis • Monitor your competitor activity with your accounts
- 37. Thank you foryour attention.