The Sales Times

7/25/2019 The Sales Times

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The Sales Times

ALL ABOUT THE BIG WORLD OF SALES EXCLUSIVE NEWS TODAY

The change has arrived and it is NOW!

Never talk about theWEAT H ER dur ing a salesmeeting in Canada.

-Jim Hamilton

Tommorows selling professionals need to be more strategic in their account management and account planning. Ratherthan simply selling vertical products and services, futureaccount management requires applying the value propositionto the enterprise.

Appreciation from your greatest asset takes no timeand little investment, and pays a huge return.Customer service extends internally and externallyand relies on people, processes, and physicalevidence.

A Successful Salesper sonnever says I will getback to you on this.

-Jim Hamilton

Wall of Quotes

Masters of International Business Students Presents: CAD: $1.70 Date: 19 th March, 2015

Ania Livrieri ,Devyani Banduni ,Jordan Perret

Harshil Sanghavi ,Rashi Rathore,Elisa Villa

Presented

By:

Tomorrows selling professionals must begin the study of internationalcultures and languages. The acquiredknowledge assists professionals tocommunicate articulately with globalclients, which provides betterrelationships. It is vital for all selling

professionals to think globally and actlocally.

With the emergence of smartertechnology, usefulness of theInternet, and spontaneity of access,stored information morphs intoknowledge. I n todays selling worldcontent is king. Selling professionalsrequire a wealth of knowledgeto remain competitive.

Clients make decisions within thefirst twelve seconds

A cohesive, competitive and motivated sales-force is a key ingredient forthe success any organisation which is, as is the trend, becomingincreasingly global. The Sales Times provides insights into the first fewsteps of building the effective and efficient salesforce in regards to theirrecruitment, selection and the most proficient reward system

Sales Pic of theDay


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Selecting the wrong person for the job will ruin oneenterprises image when their qualities dont meet therequirements of the enterprise, and even cannot be upto the standard that a sales person should possess.

The wrong persons for the job will influence the normaloperation of an enterprise, and even will hinder thedevelopment of enterprise

Selecting the wrong person for the job is detrimental to both the enterprise and the sales person. Not only theenterprise but also the sales person should find matchinformation in order to develop himself well.

Salesforce selection. Getting it right

Sales people stand for the corporate image and determinewhether a product can be promoted well. In the long term,recruitment and selection of sales people is beneficial toenterprise strategic management and the increase of return onnet assets.

First, recruitment and selection of sales people is related tothe survival and development of an enterprise. It has a

bearing on the normal operation of the enterprise. The profitof an enterprise is realized through successful sale of

products, and the successful sale of products tends to achieve by sale people especially by high qualified sales people.

Second, recruitment and selection of sales people is thefoundation that ensures high quality of sales people. So bylayers of the selection, the enterprise can choose and recruitemployees that are suitable to the sale position and meetenterprise requirements.

Old Ways: On-line candidate assessment continues toward the mainstream Accelerated internal movement is still needed

New Techniques: A metric-driven employee referral program becomes the

dominant hiring

Employer branding returns as the only long-term recruitingstrategy

Boomerangs become a primary target once again Being ready for the mobile jobseeker Understanding data and context

Old Ways + New Techniques = A Perfect Salesforce

The Need

Consequences...If you dont do it the right way!


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Recruiters for this industryoverwhelmingly say thatspecific sector or productexperience will be moreimportant thanqualifications. Skills-wise,

the ability to win newcustomers is once againranked as the mostimportant skill setfollowed some way behind

by account managementskills. Discipline expertiseis also key in many salesroles. Companies wantsales professionals to notonly be experts in theirfield but also wellconnected within theircustomer base .

ManufacturingSales

A complete candidate:Consistent achievement oftargets in the form of P60s,Experience in selling asolution rather than just a

product, Experience in

selling into the appropriatesector or vertical, A stablecareer history three or moreyears with each employer, ,Exposure to new andemerging technologies ishighly desirable withcompanies often looking tohead hunt candidates fromcompetitors championingthese technologies,Rapport building skills toensure customer buy in andthe ability to build therelationship into a trustedadvisor status.

IT and TelecomSales

Three main areas ofstrength in a prospectivecandidate. Firstly,employers want to see

proof of established andleverageable relationships

with key clients. From aclients point of view, thisshould increase thecandidates effectivenessand ability to generaterevenue in the early stagesof their employment.Secondly, the provenability to increase profitwith existing accounts andalso the ability to win new

business is key. Thirdly,employers look for sectorspecific experience ofselling products.

FMCGSales

An understanding andrecent exposure to thespecific market place is

particularly sought after.Organisations areseeking solution sales

individuals. Far gone arethe days of a sales personin the construction sectorknocking on a few doors.Companies now expectany potential candidatesto be proficient intendering and PQQs.

Not only do constructioncandidates need to beable to lead the bid

process but they alsoneed to be empathetic toclients needs so that anefficient or cost effective

rocess is a reed.

ConstructionSales

The skill map of the Future

Industries which Walk the Talk


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LETS GET REWARDED! Special coverage on Reward system

INDIVIDUAL HERO REPLACED BY A TEAM!!!!

S ITUATIONP ROBLEM I MPLICATION NEED-PAY OFF

Now a Sales Team for complex saleschallenge the new selling environment,three important roles in the sales team:Marketing Managers, Relationshipmanagers, sales closer. Theircompensation plan is build in order toincrease the team work.

ACRONYMSIN SALES

Sales force before wasrepresented by anIndividual hero , theirresponsibilities weremarketing, prospecting,

preparing for and closingthe sale, and providingsales-related services after

sale. To be successful itrequired broad skills andtalent encountered in onlyone person: the sales

person.Sales force compensationwas based on: The morethey sell, the more theyearn

New compensation plan for the new environment...

Cross-selling incentivesCompensation for making multiple sales/different product linesto the same customer. To implement it we need training andmanagment tactics to lead to this behavior.

Incentives for Relationship ManagementRetain and increase the current buying levels for a group of

customers. This leads to understand better the profitability of acustomer.

Sales Pic of theDay

SELECT A FEATUREE XPLAIN THE BENEFIT L EAD INTO BENEFIT

L ET THEM TALK

L ISTENACKNOWLEDGE ASSESS R ESPONDC ONFIRM


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Attention!! Rewards arent the same in all industries...

Get all your salesforce satisfied with the compensation plan

Pay mix and the point at which the sale is creditedvaries: high tech/telecoms industry has a relativelyaggressive pay mix while sectors like the

pharmaceutical one is heavily regulated.

As well, in high tech or telecoms, theyre muchmore likely to be paying when a contract is signedrather than when the revenue comes into the

business.

Getting the right MIX: Company + Culture

Corporate and national cultures can be conflicting and in this case one has to be especially careful whendesigning the compensation plan. Fitting with national cultures and employees aspirations must be the mainfocus as a lack of cultural adequation can be highly counterproductive.

That being said if some non-conformist aspect of a strong corporate culture is vital to the success of thecompany then it should be kept. One has also to be aware that beyond obvious cash rewards some

perquisites are highly valued in some countries for the intrinsic prestige value they contain.


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Salespeople are not all the same andtheir motivation and performancedepend on different factors. Thesalesforce can be divided into 3categories: laggards, core players andstars. The compensation plan needs toaddress these three groups in order todrive a better performance.

Gamification as a new trend

Either Incentives vary... High tech and telecoms companies areusing mostly commission while otherindustry prefer a formulaic bonus as the

primary approach. Anyway the type ofsales role is still the bigger driver of thingslike sales incentive eligibility and theincentive form.

Companies are using video-games inspired toolssuch as leaderboards and badges to engage theirsalesforce. Why is it working? Because people liketo play game and, most of all, they like to win!

Salespeople are competing against each other for points, badges or to be known as leaders. Theincentive to gain good results comes from the fact

that the status they reach is clearly visible withinthe company, so even when users are notcompeting against each other, they still have theincentive to achieve it.

The gamification model integrated into social business applications usually includes badgesshowing different levels of achievement, progress

bars and meters, points and other rewards that can be earned, loyalty awards, and leader boards.


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Devyani Banduni:Recruitment Specialist

Rashi Rathore:Recruitment Specialist

Harshil Sanghavi:Recruitment Specialist

Ania Livrieri: RewardSpecialist

Jordan Perret: RewardSpecialist

Ellisa Villa: RewardSpecialist

The Team .

The Sales Times

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