Tags |
|
|
Links |
|
|
Other Added - Sales Management - How to Stop Wasting Expensive Technical Resources
If you use promotional products you probably already know the power of giving away freebies. You may use them to thank current customers, or to give incentives to potential customers.When most people think about promotional products, they tend to think pens, keychains, t-shirts, mugs, caps, etc.Did you know there are products that put pens, mugs and keychains to shame? They can cost less and bring measurable profits. Sometimes, these profit-producing promotional items may even be free.How can this be?Inst
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and se
The secret to networking is simple. There are two things you need to know that will guarantee you become a master networker:
Know what people have to offer.
Know what people need.
Why are these two questions so important?Master networkers know that networking isn't just about connecting with more people. And it's certainly not just about selling yourself and your services/products.It's about connecting OTHERS together.Whe
How often does this happen?
An excited salesperson contacts his or her sales manager and alerts them to a new opportunity. The sales manager assigns a technical expert to visit the prospect with the salesperson. The salesperson and the technical expert drive (or fly) to the prospect's location and spend days or weeks analyzing the prospect's situation. They perform product demonstrations and evaluations. Eventually they prepare a detailed proposal and deliver it to the prospect.
Unfortunately, the deal never closes...
The opportunity languishes in the salesperson's pipeline for many months and is eventually deleted. Even more unfortunate, all of the time and money your company invested to pursue the opportunity (salesperson and technical expert salaries, travel and entertainment expenses, product demonstration and evaluation costs, proposal preparation costs, etc.) was COMPLETELY WASTED.
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and se
There are a variety of independent fundraisers going on in a given community at any one time. If your fundraiser overlaps with another’s, your school organization’s fundraising success could be in jeopardy. You definitely don’t want to try to do a candy fundraiser during Girl Scout Cookie Time!Getting your school group’s plans onto a central calendar will help make sure that there are no overlaps. It also helps publicize your fundraiser in advance.Highland District 5 in Illinois recently decided to go one step further and
Unfortunately, the deal never closes...
The opportunity languishes in the salesperson's pipeline for many months and is eventually deleted. Even more unfortunate, all of the time and money your company invested to pursue the opportunity (salesperson and technical expert salaries, travel and entertainment expenses, product demonstration and evaluation costs, proposal preparation costs, etc.) was COMPLETELY WASTED.
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and se
Branding your online business maximizes your business development efforts without adding work to your day. Once you’ve branded your business, it becomes recognizable and people flock to your business to get what you offer, because HIGH QUALITY matters.1. Describe your product using three words.Exactly what is it you offer your customers? Do you sell soap? Candles? Services? What is it you offer?2. Write those words down.Put those three words on paper. Write them out and vary the lineup a bit. Change them aro
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and se
Businesses are opening at an ever expanding rate, making competition for customers fierce. In order to keep up with the demands in the world today new businesses need to keep in mind the importance of good communication. The most important piece of equipment you will purchase for your business is the phone.Even before a business opens its doors the phones should be up and running and all employees need to be familiar with their use. Depending on the size of the business you can decide first what type of service will be needed to
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and se
We all know that a successful business requires advertising...and
that can be expensive. We also know that owning your own
business can mean a very tight budget. So what do you do when
you don't have enough cash to advertise? Start trading! Trading
products and services for advertising can not only give the small
business person excellent opportunities for exposure, but it also
saves money.Trading for advertising can be easier than you think. For
example, say you own a donut or bagel shop. Try giving boxes of
your go
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and service training costs and increased size and quality of your company's sales opportunity pipeline.
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
Copyright 2005 -- Alan Rigg
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.otheradded.com/article/38715/otheradded-Sales-Management--How-to-Stop-Wasting-Expensive-Technical-Resources.html">Sales Management - How to Stop Wasting Expensive Technical Resources</a>
BB link (for phorums):
[url=http://www.otheradded.com/article/38715/otheradded-Sales-Management--How-to-Stop-Wasting-Expensive-Technical-Resources.html]Sales Management - How to Stop Wasting Expensive Technical Resources[/url]
Related Articles:
CeMAP Training and Company Sponsored Courses
How to Make Your Career Change Easier
Open a Dollar Store - How to Provide Feedback Your Employees
Bookmark it:
|