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Sales Strategy & Management

Performance Monitoring

Measuring the performance of sales staff can be a challenge for any business. Each salesperson is different and works differently. So how do you monitor your sales team and track sales success?

Monique Verduyn

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Measuring the performance of each salesperson has a purpose: to help them be more profitable to your company.When this happens, they earn more, receive better incentives, and feel valued –all of which is good for your business. Keith Fenner, strategic sales managerat Softline ACCPAC, offers some tips on tracking sales success.

How do you go about setting up systems to monitor sales performance?

First, you must thoroughly understand the process of how you intend to sell your product. Casting that process in stoneis fundamental to success. Often, sales performance information is too little, too late. Because of the volume of data generated by sales activities, managers end up spending a huge amount of time wading through reports while unidentified problems areas worsen.

A sales dashboard, used against your database, will show the sales team’s performance to date, ensuring that you do not need to go looking for important sales information. This type of system allows salespeople to see their own closed sales, while a sales manager can view individual and team performance on a daily, weekly, monthly, quarterly and annual basis, allowing for measurement against target.

I’m not talking about a horribly expensive piece of software. Good customer relationship management systems are really cost-effective. For the small to medium business, where time and resources are limited, these systems are vital in enabling people to manage their lives.Implementing a CRM system can double your sales in an instant, not because it’sa silver bullet, but because it introduces processes into your organisation.

How important is it to record call rates?

You have to know how many calls your people are making, but the true measure of success is how many meetings result from those calls. It’s not about volume, but conversion. And I don’t just mean into actual sales. What is important is the contact, and the opportunity to distribute information about a product. Sales can always be closed at a laterstage.

How do you define and measure after-sales service?

In the process of completing a sale you pay a great amount of attention to the customer; once the sale is closed, you can’t just disappear. You should be moving the customer onto the next level, which is customer care. Every after-sales interaction must be turned into a positive one. Resolving a customer complaint can actually leave a customer with a greatly enhanced view of your business.

How effective are “rate our service” surveys?

Again, the important point to remember is process. After I took my car in for a service recently, I received a call to ask if I was happy with the service I had received. The caller knew nothing about the problems with my car or about the follow-up the garage had promised. What is the point of that kind of call? It’s meaningless. If you going to implement a “rate our service” system make sure it’s fully integrated from front office to back end.

For more information, contact Keith Fennerat Softline ACCPAC on +27 11 803 7327

Monique Verduyn is a freelance writer. She has more than 12 years’ experience in writing for the corporate, SME, IT and entertainment sectors, and has interviewed many of South Africa’s most prominent business leaders and thinkers. Find her on Google+.

Sales Strategy & Management

When The Customer Fixates On Price, 
It’s Probably Not About 
The Money

Customers often talk cost when they have vague concerns about the product. Your job is to find out and solve the real problem.

Grant Cardone

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If the person I’m working with can afford the product, but isn’t buying and continues to focus on the money, I realise this buyer has other concerns. While your customer may be objecting to price, know there is something else you might not know. He or she is thinking,

“Is this the right product? Is there a better product? Is this the right proposal? Will this solve our problem? Will I use it? What will other people think about my decision? Am I going to really use and enjoy this? Will this company take care of us? Am I better off buying something else? Will something better come out next week? Do I know enough to make a decision? Should we invest in something else? Is this going to be a mistake? Is this person going to let me down?”

When these other questions are handled, the price will no longer be the issue.

The right product will solve all the customers problems

Let’s say a man is buying a birthday present for his girlfriend. He finds something he thinks she will love. You tell him the price and he says it’s more than he can afford. What he’s actually saying is that he’s not completely sold on that product. If it’s too much for that ring, he either doesn’t love it himself or is not sure she will — or both.

You have to get the right product that solves all of his problems. Address other concerns and price won’t be the big issue. You can justify the price with other inventory. Don’t make the mistake of offering something with a lower price when you get a customer making price objections.

This is not a way to resolve the money problem. When you move the customer down to offer something cheaper, they are actually more likely to like the product even less than the first one. This will cause your buyer to believe you don’t have a solution.

Instead of moving them down, try moving them up. This will get the customer thinking in terms of value, not price. This will also determine whether the price objection was even valid or not. If a guy is looking at a R6 000 ring and objects to the price, show him a R9 000 ring. The R6 000 ring may become more attractive to him.

Help the customer feel like they’re making a good decision

Buyers are more concerned about making a good decision than how low the price is. What’s the worst that can happen by moving someone up in inventory?

  • He will look at something more expensive, which means he wasn’t committed to the original product.
  • He needs to move in the other direction, something cheaper. That makes the price objection valid.
  • He looks at the more expensive item but sees value in the original item.

Exhaust your inventory, not your price. You are losing just as many customers to more expensive products as you are to less expensive products. Your buyer would rather pay more and make the right decision than pay less and make a mistake.

Related: 5 Reasons Why Your Business Is Losing Customers

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Sales Strategy & Management

Take Your Sales Skills To The Next Level With These 5 Simple Steps

Learn to sell nearly anything.

Brian Tracy

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Entrepreneur Network partner Brian Tracy says one of the most valuable skills a person can have is the ability to sell anything to anyone.

The motivational speaker provides a few tips to help even the most beginner of salesman to improve their skills dramatically:

  1. Understand the needs of your customers.
  2. Sell yourself.
  3. Do research on the client.
  4. Ask questions and engage in a dialogue with your customers.

Finally, keep in mind that you should not only be selling – but also helping your customers. Selling is part of a relationship and the more established the relationship, the more effective your sales tactics will be.

To hear more about selling from Tracy click on the video below:

This article was originally posted here on Entrepreneur.com.

Related: How To Find The Right Salespeople: And Attract Them To Your Business

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Sales Strategy & Management

Boost Your Business With Smart Delivery

Differentiate your business in the one way that customers value the most: deliver the goods on time.

Morné Stoltz

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It can be difficult to carve out a competitive advantage in today’s cutthroat business environment. For some companies, investments have been focused on creating digital advantage through measures like apps or fancy websites, or improved processes with clever technology to make things run faster and better. While all those strategies have their place, there could be a far simpler way to put your business ahead of the competition. Deliver the goods, in a very literal sense.

The Internet revolution has made today’s markets very competitive in all sorts of ways. Barriers to entering many markets have tumbled and new competitors are everywhere. Consumers have greater choice than ever and can easily compare prices and service. That is good for consumers, but it makes it hard for companies to attract and retain a loyal following.

By now, it should be no secret that people are willing to pay for convenience. In fact, many of the digital initiatives we see today are succeeding because of the convenience they provide. Take the Uber example: Using technology services, it brings together willing sellers with willing buyers, with the ultimate convenience of being able to see where your Uber is, who the driver is and what car to expect. Even more convenient, your Uber shows up when you need it.

Related: A 7-Step Guide To Starting Your Own Trade Business

Extend the same concept to physical goods, no matter what they may be and it is not difficult to see how a delivery service can easily put a big smile on your customers’ faces. Whether you are selling horse saddles, operate a bicycle store, run the local grocer, hardware outlet or restaurant: bringing your goods to your customers saves them time, makes it easier to buy and has the added effect of establishing further rapport to build trusted relationships.

According to Forbes, the Internet has habituated today’s shoppers to instant gratification. While physical goods obviously cannot be accessed at a click, there is no doubt that speedy delivery has become a driver of competitive advantage.

Getting a delivery service set up can be easy and low-cost provided your market is fairly local and your product relatively easy to transport. There are a range of options for vehicles, from a versatile bakkie or minivan capable of handling large loads or bigger items, through to a delivery motorbike or scooter. For those providing smaller items, scooters or motorbikes are a great option, as they enable convenience when your customers might most need it: during rush hour. A bike can zip through the traffic, impressing your customer by ensuring that they get what they need, without wasting time stuck in the car due to traffic or lack of parking.

A big question would be whether your deliveries are handled in-house or by a third party. There are pros and cons, but there is an increasing trend for many smaller businesses to make use of specialised logistics/ delivery operations. After all, this means you do not have to make the capital investment in a vehicle or scooter, pay a staff member to do the job and take on the insurance and management issues. Not only are you engaging an expert, you are also doing your bit to support another business.

Third-party delivery partners also work well for deliveries in far-flung areas, or if your product is bulky.

It is a good idea to see what other businesses of your size are doing and who they are using. It is important to choose a delivery partner whose service ethos matches your own.

Related: 5 Success Hacks To Grow Your Business

Whatever option you choose, make sure you understand the risk and have the right kind of business insurance in place. It is also a good idea to have the ability to monitor where your deliveries are in real time. If you have a third-party partner, they should  be able to provide this for you.

With most big stores offering delivery services as part of their value proposition, adding this choice to your service offering increasingly makes good business sense. Customers are quite prepared to pay a slight premium to get what they want, right to their front door – and they will keep on coming back for more.

MiWay is an Authorised Financial Services Provider (Licence no: 33970)

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