BUS633: Sales Management

In the past, people have had a negative image of the sales process as a high-pressure interaction between a salesperson and a customer. A good professional salesperson will involve the customer in the interaction to assess their needs and help them find solutions to their problems with their products and services. A good salesperson will listen to customers' needs and strive to maintain a long-term, mutually beneficial relationship. The advancement of business technologies like the internet and social media create new means for reaching customers and maintaining relationships with them. Read this chapter and answer the review questions.

Watch this video. It gives examples of how the sales function has evolved from the 1960s through today and how technology has changed the selling landscape.

This section introduces concepts including the types of selling, the selling process, and the future of sales as a critical component to business success.

Watch this video on the eight different types of salespeople, keeping in mind that only three of them are consistently effective in closing a sale. Each of the eight different types has strengths and weaknesses. It is up to the sales manager to identify their salespeople's strengths and weaknesses and encourage them to mentor each other.

Read about how sales jobs can be classified on a continuum of service selling at one end to developmental selling at the other. Nine types of sales jobs are represented on this continuum. Sales jobs can also be distinguished from a low to a high level of complexity. For example, many sales transactions are repeat purchases, with little effort or thought, such as a consumer making a routine purchase at a grocery store. On the other end of the spectrum, complex sales have longer sales cycles, and many more people from different functional areas of the company are involved in the sales process.

Watch this video on improving your customer relationships. Different types of customers will fall into different quadrants based on customer satisfaction and loyalty. While you watch, make sure you understand the difference between customer satisfaction and customer loyalty.

Watch this video about relationship building and its importance for sales and business. Technology is important, but customers want to also connect on a human level. 80% of people stop doing business with a company because they don't like how an interaction made them feel. It's all about having a good experience with the company.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 1 Assessment.

Prospecting and qualifying potential customers is the first step in the selling process. Read these sections to start our discussion of this process. Note the difference between a lead and a prospect.

In this video, we will learn the importance of asking for referrals from our satisfied customers.

Read this section to learn more about finding your prospects. Knowing where to find your qualified prospects is the key to your success in turning prospects into customers. Focus on the Top 10 Prospecting List. These are great sources to help you find qualified leads in your specific industry. Note the number 1 source is existing customers. Research has shown that attracting a new customer costs five times more than retaining a current customer.

There are four major ways to segment the market and target your potential customers. You will learn that some customers are more valuable to you than others. In this article, you will learn about the Pareto principle. An example of the Pareto principle to your work as a salesperson says that approximately 80% of your sales will come from about 20% of your customers. Targeting the right customers with the highest market potential is important. Always keep in mind that not everyone is a potential customer.

Take some time to review different companies and how to reach key people in these organizations. At the end of the section, answer the questions. After that, read the Role Play case and answer the questions from the perspective of the Controller and the Account Source Sales representative.

You must know who your perfect customer is and how to reach them. Social media is a great way to obtain qualified leads because you can disqualify the potential customers you don't want through your advertising. Then you can nurture your qualified leads. Having an ideal customer profile is important to know who you should target your efforts toward. Once you know who you are targeting, you must figure out how to target them.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 2 Assessment.

This panel discussion gives a nice overview of how to plan for the sales call and how to adapt if things have changed.

Read this section to learn how you can be prepared for your sales meeting by learning about your customer as an individual so that you can establish rapport. You should also learn about their business and how your product can satisfy an unmet need. Complete the exercises at the end of the section.

As you read, keep a few key points in mind: 1. People only buy from people they trust, so you must earn your customer's trust. 2. You need to prepare SMART call objectives before you go into your call to make the best use of your and your customer's time.

Once you have learned as much as possible about your customer and their company, you must formulate your pre-call objectives. This section will teach you about SMART objectives: Specific, Measurable, Actionable, Realistic, and Time-bound. Pay particular attention to the examples of smart objectives. Complete the exercises at the end of the section.

Here, you will learn about the different types of customers and why information is important in determining their needs. In this section, you will also be able to distinguish the differences between B2B and B2C selling scenarios. Take a few minutes to complete exercise 2 to reinforce this important distinction.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 3 Assessment.

This section will teach you the importance of making a good first impression. First impressions have a long-lasting effect and can be difficult to change. Pay particular attention to the six Cs, or points to remember before and during your sales approach. The six Cs are confidence, credibility, contact, communication, customization, and collaboration. Complete the three exercises at the end of the section, considering the impact that the six Cs have in your approach.

In this section, you will learn some pointers to help you start the relationship positively. Complete exercises 5, 6, and 7 at the end of the section.

This narrated presentation provides insights into some common actions to avoid when meeting with a customer. Avoiding these actions will improve your ability to meet the needs of your customer.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 4 Assessment.

The theory of spin selling suggests that success in the sales process is centered on the relationship you build with your customer. Remember that no two customers are exactly alike, so we need to learn about them, their company, and their needs. Complete the exercises at the end of the section.

See how the presenter gives examples of how products' features can be translated into benefits for the customer.

In this video, you will learn how to improve your communication skills with active listening. An active listener will focus on what the other person is saying and repeat it back to them to demonstrate that they are listening.

In this section, you will learn the elements of effective business communication. Pay particular attention to the tips for active listening, focusing, asking questions, and note-taking. These tips will help you demonstrate to your customer that you are listening and that what they say to you is important. Complete exercises 5 and 6 at the end of the section.

This video will raise your awareness about the impressions made by your verbal and nonverbal cues and your ability to ask questions to improve your understanding of the customer's needs.

In these sections, you will learn when a videoconference makes more sense than a face-to-face meeting. You will also learn about the dos and don'ts of a PowerPoint presentation.

Complete this exercise. How would you use the demonstration to engage your customer?

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 5 Assessment.

In this section, we will learn the definition of a sales objection and how that can lead to an opportunity. Remember that an objection is an opportunity to build a better relationship. Sometimes an objection is just an opportunity to provide more information or dispel a misconception the customer has about your product or company. Complete the exercises at the end of the section.

This section will teach you six strategies for addressing common objections. Complete exercise 6 to practice these strategies.

Note what can be done to handle objections on a sales call. This presentation provides examples specific to selling cars, but it offers good sales advice regardless of what product or service you may represent.

Acknowledging the objection of your customer is the first step in the process. In this step, you will communicate back to your customer that you understand their concern. In the probing step, you will learn about asking probing questions to clarify to your customer that you understand their concern so you can best address it. In the answer step, you will learn about providing a relevant answer to the customer's concern and provide evidence that their concern is not a real problem. Finally, in the confirm and transition step, you will learn how to check back with our customers to confirm that we have answered their questions or concerns. If the concern was not answered, we would need to go back and probe to clarify what the objection was, provide a new response, and then clarify again before moving on in the sales process.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 6 Assessment.

Before we do a trial close, we must understand what a close is. We will learn the importance of closing and earning the right to close when you have successfully completed all of the other steps of the selling process.

There are many closing techniques, but this chapter focuses on the author's top five techniques and gives examples. These techniques are the summary close, direct close, alternative choice close, T-account close, and success story close.

The trial close plants the seed that a real close will be happening. Throughout the presentation, the salesperson can feel whether they have earned the right to ask for the order. At the end of this section, take the time to complete the review questions.

In this section, you will learn about the different types of closes, from simply asking for the order to complex sales with a longer selling cycle, those with many people involved in the decision-making, and those requiring a modified selling process. Complete the exercises at the end of the section.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 7 Assessment.

Read this section to learn what you should do as a salesperson to ensure customer satisfaction and loyalty and what you can do to make your relationship with the customer grow and prosper. Complete exercises 1 and 2 at the end of the section, considering your personal experiences and how the company followed up with you in the selling process.

In this section, you will learn how customer satisfaction relates to customer loyalty and the importance of long-term loyal customers on a company's profitability. Pay particular attention to Net Promoter Score. Complete the exercises at the end of the section to test your understanding of these principles.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 8 Assessment.

Watch this video to learn how good salespeople demonstrate their expertise in the industry and show how they can help the customer and earn that relationship through their expertise. Another key point is that people don't just buy from people they like – they buy from people they trust.

Watch the video on SPIN selling, and make note of the examples of the different types of questions that a salesperson should ask to assess the customer's needs and help them find a solution to the problem.

In this section, we will learn how a salesperson customizes their selling style based on the situation and the customer's social style. Complete exercises 2 and 3 at the end of the section.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 9 Assessment.

While you read this section, try to formulate three "brand points" that make up your personal brand. What are the three key things that differentiate you from others in a positive way? Complete exercises 1 and 2 at the end of the section.

Watch this video explaining how we use our "superpowers" to differentiate ourselves from others.

What is the point of a personal brand? The #1 reason is that people want to work with people they know, like, and trust. A truly effective brand delivers education, differentiation, and inspiration. Does your brand do that?

Watch this video on defining your personal brand. Focus on how to define your true self. Be open, honest, and transparent, and reflect on how an employer might look at your characteristics.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 10 Assessment.