The term “sales presentation” refers to the selection and display of items in order to increase the number of potential customers that visit the store. It also involves the shop’s interior decorating, an eye-catching display, and correct product placement on the counter.
Because clients often approach a counter, effective presentation is critical in selling items intrigued by the items on display in the shop’s shelves.
The proper display of goods is critical for capturing and maintaining the consumer’s attention in the products.
Customers will come into the business only to look at the things that are well presented, even if they have no intention of buying them.
A well-planned presentation might sometimes persuade such clients to make a good purchasing choice.
Presentational aids are elements other than the speaker’s words that are used to assist the speaker’s aim. They can be visual assistance, audio aids, or other types of assistive technology.
Projectors, real items, pictures, diagrams, charts, and other visual aids are examples. Music, talks, recordings, and other audio aids are examples.
Computers, lighting, microphones, and recorders are examples of technology that can be employed.
Actually, the term ‘presentational assistance’ is a misnomer since, while they do assist the presenter, their primary goal is to assist the audience.
Some individuals are conscious of their requirements, and excellent presentation can help them become more aware of their needs in particular terms and with more precision.
Customers are instinctively drawn to things that are neatly placed and exhibited in the store, and their latent desires are aroused.
Customers typically compare numerous articles and their distinct attributes before purchasing a product.
In reality, the presentation allows people to compare and select the best solution for their unique needs.
As a result, it is critical for a salesperson to first understand the demands of the customer and then choose the most efficient sales presentation tactics.
The following things should be taken into account:
(a) understanding the buyer’s demands;
(b) identifying sales presentation approaches (or tactics); and
(c) developing a successful presentation.
a) Recognizing the buyer’s requirements: The easiest approach to determine the buyer’s requirements is to ask as many questions as possible.
According to Neil Rackham, salespeople should ask the following questions in a logical order:
i) Situational inquiries: These inquiries are about the prospect’s current condition or anything else the salesman wants to know.
For instance, who are the key influencers in this product/purchase service’s decision? Or are you switching brands or purchasing this product/service for the first time?
ii) Problem-solving questions: Salespeople use these inquiries to figure out what the customer’s issues, challenges, or needs are.
Have you had any issues with existing vendors in terms of price or delivery, for example? Or whatever components of the present system aren’t working?
iii) Problem impact questions: Salespeople ask these questions to help buyers comprehend the problem’s effect or implications, as well as the necessity to solve it.
These are the most important questions to ask, and the salesman should ask as many as are necessary.
To give an example, what effect will the delivery issues have on cost and customer satisfaction? Or what effect would a malfunctioning system have on customers?
iv)Question on the worth of the solution: These questions are used by salespeople to assist buyers in determining the importance or usability of a solution.
How much time and effort may be saved, for example, if the product is purchased? Or how can that time be put to the best possible use?
v) Questions for confirmation: Salespeople ask these questions and offer the necessary information to back up their claims.
For example, the power consumption of this refrigerator has been confirmed by a reputable body to be significantly lower than that of other brands.
For effective prospect handling, salespeople should ask fewer situational inquiries and more questions on problem identification, its impact, and better solutions to current problems.
B) Methods of sales presentation identification: Salespeople must be familiar with the numerous sales presentation approaches (or tactics). These are the following:
1) Stimulus-response technique
2) Formula technique
3) Method of Need – Satisfaction
4) Advantages and Benefits of Features Buying and selling (FABS)
5) Selling in a group
6) Selling in Relationships
1. Stimulus response method: This strategy is also known as the canned approach, memorised sales presentation, or prepared sales presentation.
This strategy assumes that if a salesperson gives the correct sales presentation, i.e. stimulus, the prospect would respond positively. The salesman performs the most of the talking in this strategy.
Without first questioning about the prospect’s needs, the salesman describes all of the product’s characteristics and asks the prospect to buy it. If the prospect does not buy, the salesperson will try to market the product again.
Telemarketers and door-to-door salespeople are the most common users of this strategy. When the time for a sales presentation is limited and the product is non-technical, it is often used to teach new salespeople.
For difficult or urbane prospects, however, this method is unsuccessful. The fundamental flaw in this strategy is that instead of asking questions and listening to the needs of the prospect, the salesperson instead gives information on product features and benefits, which may or may not be essential to the customer.
2. Formula technique: This strategy, which is also known as ‘formulated approach’ or’ mental states marketing,’ is based on stimulus response thinking.
Because the salesperson believes that most consumers can be lead through mental states or phases in the purchasing process, he or she employs a well-known formula.
It is divided into four stages: Attention, interest, desires, and action are all things that people pay attention to (AIDA).
1st Stage: Attention – The sales agent begins the sales conversation by gaining the prospect’s attention by making nice remarks about the prospect or the prospect’s company.
Appearance and a cheery demeanor also contribute to a positive first impression. The goal of the first encounter is to get the prospect to be receptive to new ideas.
A salesman should always schedule a meeting with a prospect ahead of time and spend the first few minutes easing the prospect into the conversation by selecting appropriate opening words.
Stage 2: Interest – The salesman guides the prospect’s thought process to the next step in obtaining interest. To put it another way, the salesman determines which aspects of the product or service most appeal to or interest the prospect.
To discover the prospect’s interest or appeal, many approaches are employed. Salespeople may occasionally bring a sample of the product, or the entire product if it is not heavy, to show or demonstrate to a customer. Some may send mailers; others may transport visual aids such as a CD, a product pamphlet, or product photos. Successful salespeople ask relevant questions to gain a better understanding of the buyer’s demands or issues, as well as to pinpoint the biggest attraction or interest.
Stage 3: Desire – This phase’s goal is to arouse sentiments in the prospect of wanting to try out the product or service. The salesperson continues the sales pitch and shows the prospect how his or her product or service may address the buyer’s problem.
The buyer may raise various complaints throughout this procedure, which must be addressed correctly. External interruptions, such as prospects being busy with phone conversations, may be an issue for salesmen at times.
In such instances, it is recommended that the salesperson summarises what has already been mentioned and then moves on to the next step of the sales presentation.
Stage 4: Action: Buying the product/service is the action in this stage. Some salesmen utilise a trial close to see if a potential customer is ready to buy. If the prospect agrees to buy, the salesman will ask them to place an order.
If the prospect objects, the salesperson resumes the presentation in an attempt to persuade the prospect to accept his or her proposal.
This strategy has the advantage of requiring the salesperson to organise the sales presentation and comprehend the customer’s thinking processes.
The negative is that the approach is less successful if the customer’s wants are not understood.
3. Method of need-satisfaction: This is the most difficult and inventive approach of selling. It’s a different type of interactive sales presentation than the prior two. By asking situational, problem recognition, problem impact, solution value, and confirmation questions, the salesman begins to comprehend the buyer’s (or prospects’) needs.
After properly analysing or investigating the buyer’s needs/problems, the salesperson presents a written proposal or a sales presentation to show how his or her product or service can solve the buyer’s problem better than a competitor’s.
The process of selling need fulfilment is depicted in the figure below:
1. Open: At this point, the salesman begins the selling process by opening his presentation to the prospect.
2. Probe: During this step, the salesperson asks the prospect questions to ensure that he fully knows his wants.
3. Assistance: The salesman provides support for the prospect’s demands while also attempting to detect unspoken wants.
4. Close: The salesman presents the prospect with a value proposition that may meet his needs and completes the purchase.
When a salesperson successfully persuades a prospect to buy a product, the strategy is advantageous. This strategy can also aid in the development of consumer loyalty and trust.
Tata Sky Set Top Box Providers, for example, take a need-satisfaction strategy. They provide a variety of packages to cater to the demands of diverse clients. Rechargeable packages are available on a daily, monthly, or annual basis.
Customers may also pick and choose which stations they want to watch and pay for them.
4. Features Advantages Benefits Selling (FABS): The salesperson strives to tie all of the product/qualities service’s together into an advantage or benefit that the consumer considers important.
Prospects usually dismiss items or services that are presented to them, even if the product or service is the perfect fit for their requirements.
They continue to ignore the product or service until they come across one that has clearly stated benefits or advantages for them.
As a result, FABS contributes to the advertising message’s efficacy. The following are the three key components of this selling strategy:
(i) Features: The salesperson discusses the product, service, or market offering’s features or characteristics.
For instance, a sleeping bag’s 2 inch insulating layer is a significant characteristic.
(ii) Advantage: The salesman explains how the feature may benefit or assist the prospect.
For example, the sleeping bag’s 2 inch insulating layer aids in the retention of body heat during the night, which is a benefit.
(iii) Benefits: The salesperson next explains how the feature or benefit addresses a specific demand identified by the prospect.
When a prospect expresses a benefit, it becomes a compelling statement that the salesperson may utilise to close the deal.
For example, when a consumer goes camping, the sleeping bag’s 2 inch insulating layer will enable him or her sleep peacefully at night.
As a result, kids will be able to get a good night’s sleep and be ready for enjoyable activities every day.
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5. Team Selling Method: Team selling entails the use of multi-person sales teams to interact with their clients’ multi-person buying centres.
The members of a team may work together and discover errors throughout the presenting process, allowing for continual learning. They can also spot elements that may be included in the sales pitch.
For instance, if a software business X needs to sell software to a bank, the team will include employees who are responsible for installation, automation, customer technical support, and so on.
6. Relationship Selling Method: Relationship Selling is cultivating a bond or relationship with prospects while also listening to their requirements. It is established when the salesperson demonstrates concern and wins the customer’s trust and confidence.
Knowing their wants and discovering their hidden anxieties can help you create solutions that are tailored to their specific requirements and strengthen your relationship.
Working out details is simple when you have a good connection; yet, if you don’t have a good relationship, they might become barriers.
In relationship selling, the salesperson takes on the role of a customer supporter.
They grow reliant on the services or goods, and if the company’s offerings meet their demands, they reply with new offers. It is beneficial to businesses that operate in competitive marketplaces.
c) Developing an effective presentation.
Whether a prospect buys from you or one of your rivals is frequently determined by the quality of your sales presentation.
Most presentations, on the other hand, lack style and are rarely captivating enough to persuade the other person to buy. These seven pointers can assist you in creating a persuasive sales presentation.
1. Make the sales presentation relevant
Using a generic presentation is one of the most typical blunders individuals make. In every presentation, they say the same thing in the hopes that something in their presentation would appeal to the potential buyer. I’ve been exposed to several “canned” PowerPoint presentations and have been a victim of this strategy more times than I care to recall.
The discussion about your product or service should be tailored to each individual; include specific details that are special to that consumer. This entails doing some preliminary research on your consumer and learning about their business and sector. Examine their company website or Facebook page for newsletters, blogs, yearly reports, and other pertinent information.Investigate their competition and, if feasible, customise your presentation to show how your product might provide them a competitive edge.
Place the company’s logo on your slides if you’re using PowerPoint or other presentation software, and explain how the important slides pertain to their issue. Demonstrate how your product or service addresses their unique issue. This implies that before you start talking about your firm, you must ask your prospect probing questions.
2. Create a connection between your product/service and the prospect.
I developed a sample of the product that will eventually be used in their programme for a presentation to a prospective customer.I delivered my prospect the item his team would be utilising after a brief chat — rather than telling him about it, I placed it in his hands. He could then see exactly how the final result will appear and inspect it in great detail. He was able to ask questions and observe how his team would use the information in their work setting.
Also, keep in mind that you should focus on the advantages of your items rather than the features. Tell your consumer what they’ll get if they use your product instead of one from your competitors.
3. Get straight to the point.
Today’s businesspeople are simply too preoccupied to listen to lengthy debates. Know what your main points are and how to deliver them effectively.I recall speaking with a salesperson who went on and on about his goods. I was ready to make my buy after seeing his merchandise and understanding how much it would cost. Unfortunately, he kept talking, almost talking himself out of the deal. Before you meet with your prospect, make sure you know what crucial themes you want to cover and practise saying them out loud.
Prepare to listen to the client during and after you make your important points – ask questions and take notes on their remarks so you can better determine their exact need(s) and: Tell them how your product satisfies their requirement (s)Address any concerns or complaints they may have regarding the product.
Use their suggestions to enhance your product and/or to fine-tune future sales pitches.
Interrupting or arguing with a customer is not a good idea! If a group discussion deviates from the topic of your presentation, gently bring the dialogue back on course.
4. Be lively.
We’ve heard a lot of sales presentations that are dull and unoriginal. Make sure you show excitement and energy if you truly want to stand out from the crowd. Use your voice efficiently and modulate it in a variety of ways.When people talk about a product they are highly familiar with, they frequently make the mistake of speaking in a monotone, which causes the other person to rapidly lose interest in your presentation.
Taping your presentation with a voice recorder. This will allow you to hear how you sound while you talk about your product. We must admit that when I first utilised this strategy, I was absolutely ashamed.
5. Put up a show.
In The Sales Advantage, a vending salesperson is seen spreading a hefty piece of paper on the floor and asking, “Would you be interested if I could show you how that area might make you some money?” Consider the impact of this approach with the standard method of saying, “We can help you generate more money.” What can you do to add a little bit of showmanship to your presentation?
6. Use a practical demonstration to demonstrate your point.
My friend sells sales training, and during his presentation, he frequently uses the whiteboard or flip chart in the prospect’s boardroom. Rather than informing his customer what he would accomplish, he gets up and gives a brief presentation. He jots down facts and statistics, draws images, and takes notes on specific comments and assertions made throughout the conversation. This strategy has never failed to assist his prospect in making a decision.
7. Finally, have faith in your product or service.
This is, without a question, the most important aspect of any presentation. Do you get more passionate and active when discussing solutions? Is your tone of voice enthralling? Is your excitement reflected in your body language? If not, you must alter your strategy. After all, how can you expect your consumer to become inspired enough to buy if you can’t feel enthused about your product?
TYPES OF SALES PRESENTATIONS
1. Canned Presentation
Canned presentations are ones in which the presentation text has been meticulously crafted, tested, and then written down. While giving a presentation, each salesperson is required to memorise it and follow the contents in the specified sequence.This type of presenting is most typically employed in non-technical product sales, such as pharmaceuticals, telephone sales, and door-to-door sales.
The drawback of this method is that the prospect’s engagement is limited. He may perceive it as high-pressure sales and put off making a buying choice.
2. Planned presentation
It is, without a doubt, meticulously prepared and organised, yet it still has the personal touch of the person giving the presentation. The training department just gives a structure in this manner, and the individual salesperson fills in the blanks with explanations, descriptions, and pictures.
This presenting approach has the benefit of appearing more conversational and less official since the salesperson uses his own words.
As a consequence of the prospect’s involvement in this presenting style, his worries and queries may be thoroughly addressed.
3. Presentation (Audio-Visual)
The salespeople largely rely on the A V aids for such presentations. Charts, slides, video films, prototypes, computer-based presentations, and the utilisation of actual goods are all examples of these aids. Such presenting strategies are employed in the advertising and computer software industries. In these presentations, the salesperson’s speaker takes a back seat to the prospect, with the focus being on the A V assistance.
Such aids are commonly employed not just to attract attention, but also to explain or show concepts that would be difficult to explain or exhibit without them.
4. Presentation on Problem-Solving
This is a two-step manner of presenting. The first step is to research the needs of each unique prospect, and the second is to make a proposal. As a result, the candidate will be able to address the problem. Such an approach is often employed in the insurance industry, where the insurance agent inquires about the prospect’s needs and then recommends a specific policy, along with its advantages and benefits.
Similarly, in management consulting assignments including all functions or high-tech tailored goods, similar strategies are applied.
TYPES OF PRESENTATION AID (SALES AIDS)
- Objects
When you utilise physical objects as direct examples or metaphors for points you wish to convey, they may be incredibly beneficial and have a very emotional impact.
2. Photographs
Photographs depict reality and are simple to incorporate into slides, where they may be used to illustrate a point or just serve as a backdrop. They may be used to depict activity, evoke emotion, and more. When you show someone doing something, your viewers may identify with the visual and put themselves in that person’s shoes.
Photos have the problem of losing critical information, therefore it’s important to make sure they’re shown on a big screen.
Any legal limits, such as privacy regulations, must also be addressed while taking images of individuals. If you’re unsure, evaluate whether or not the person you’re photographing is glad to be there. While having people in the background is typically OK, when they are the subject and you are using them to advertise anything, you may be in trouble.
3. Diagrams
Diagrams are drawings or sketches that outline and describe components of an item, process, or occurrence that are not easily visible. Diagrams, like graphs, can be thought of as a sort of chart, as seen in organisation charts and process flow charts.
4. Graphs
Graphs and charts are visual representations of data. Line graphs, bar charts, pie charts, radar diagrams, and other types of graphs are among them.
When it comes to displaying meaning and expressing the value of data, graphs are typically far superior to tables. They excel at this by demonstrating how certain numbers are significantly greater than others, how numbers vary over time, and so on.
Line Graph– A line graph is used to depict changes over time. A line graph demonstrating the decrease of Enron’s stock price from August 2000 to January 2002 is shown in Figure 15.10 “Enron’s Stock Price.” Although there are several strong spikes, the line has a distinct downward trend, indicating the collapse of Enron’s stock price.Showing a line graph like this allows the audience to see the links between the numbers, and it makes it much easier for them to absorb the information than if the speaker merely read the numbers out.
Bar Graph– Bar graphs are excellent for displaying disparities in amounts. They may be used to analyse population demographics, gasoline prices, math aptitude across grades, and a variety of other data.
Figure “Natural Death vs. Homicide” is a well-designed graph. It’s straightforward and well-labeled, making it simple for you to walk your audience through the many types of death and their respective numbers. The bar graph depicts the difference between natural deaths and homicides in different age groups.
Pie Chart/Graphs – Pie graphs should be as simple as feasible while yet retaining crucial information. The pieces of the pie must be drawn proportionately, much as other graphs. Figure depicts a clear and proportionate chart that has been color-coded in the pie graph “Causes of Concussions in Children.” When it’s impossible to include the explanations in the graph’s actual sections, color-coding comes in handy; in that case, you’ll need to include a legend, or key, to explain what the colours in the graph imply. Audience members may easily notice in this graph that falls are the leading cause of concussions in youngsters.
4. Charts
Non-numeric charts can display a variety of information, especially when separate objects have specific connections with one another. Flowcharts depict the connections between various operations. Who reports to whom is shown in organisational charts. Many-to-many relationships are depicted in network diagrams.
Maps are several types of charts that depict where objects are in relation to one another. They might be scaled or just relative (such as the famous London Underground map).Maps can be geographical, but they can also be any visual representation of how things connect and how to move from point A to point B. For example, you might create a metaphorical map of how to progress from a novice speaker to a professional presenter.
Making presentational aids work
- Keep it simple.
If you make your presentational aids overly complicated, they will be difficult to understand. Remember that your audience has to ‘get it’ immediately, therefore the tools you use should be straightforward and need little interpretation.
2. Make them stand out.
If you’re speaking in a vast room, anything little in your palm will go unnoticed and hence have less impact. Big objects are much simpler to notice, whether they are tangible or projected. They also have a bigger influence.
3. Bring them together.
The visual help isn’t a goal in and of itself. It’s to back up a point you’re making, so make sure you link the two together clearly, disclosing the aid’s purpose in the process.
4. Address the crowd.
Present to the audience rather than the visual aid. Speakers frequently get into the trap of looking at the assistance rather than the people to whom they are speaking.
5. Practice
Magicians spend a lot of time on sleight of hand in order to make their tricks appear effortless. You won’t need to rehearse quite as much, but you should familiarise yourself with the presentational aids you’ll be employing.
You may make the arrival (and disappearance) of your presentational aids an event in and of itself, just like the magician pulls the rabbit out of a hat.
The advantages of a sales presentation
1. Face-to-face interaction: It allows you to interact with consumers and prospects in person. It aids in the development of trust and the strengthening of the relationship between the salesperson/organization and the customer/prospect.
2. Engagement: It assists in the audience’s engagement. Audio-visual aids can help to capture the audience’s attention and have a greater impact than simply speaking, therefore increasing engagement.
3. Customizability: The presentation allows you to change the material and tailor it to different audiences. The client’s needs may be noted, and the presentation can be adjusted accordingly.
4. Consistency: It ensures that information is communicated to customers/prospects in a consistent manner, even when various salespeople are communicating with them. The presentation lays forth a fundamental framework for talking with consumers about products and services. It also aids the presenter in stressing key features and themes.
5. Flexibility: The presentation may be utilised in a variety of settings, including face-to-face meetings, big gatherings, and Webinars. The material might be the same, but it can be given to individuals or groups via a variety of platforms.
Characteristics of a good presentation
A good presentation must have certain characteristics. They are as follows:
1. Getting people’s attention
2. On-time presentation
3. Presentation of information with clarity
4. Approvals, as well as quantity and quality, are displayed.
5. Perform a demonstration
6. Using the Senses
7. Performing Tests
8. Goods handling
1. Getting People’s Interests Piqued
To begin, the salesperson must pique the customer’s attention. He can discuss the product’s unique characteristics, such as durability, composition, and so on, in order to pique the customer’s interest in the goods. Customers are more drawn to items with brilliant colours and appealing forms and sizes. However, in order to pique the clients’ attention, the salesperson needs stress the distinctive aspects of the items, which are referred to as unique sales propositions (USP).
2. On-Time Presentation
The salesperson must constantly be on time and alert. He should be quick to present the items to the consumers, demonstrating his desire and readiness to assist them. The salesman’s approach leaves a positive impact on the clients, and their response is immediate and pleasant. If the salesperson has thorough product expertise, he may be swift and knowledgeable.
3. Presentation Clarity
To gain the clients’ trust, the salesman’s presentation should be clear and thorough in all aspects. A high level of clarity in the sales presentation clears the prospects’ minds of any remaining uncertainties regarding the goods.A clear and detailed presentation prevents the prospect from considering competing offerings. As a result, the salesperson should describe the product’s usage and functioning, as well as its price, durability, utility, and special features, if any. In the event of large articles, models and photos might be used to show them. Customers should be able to touch and feel the merchandise from time to time. Prospects will be more confident as a result of this. For example, in the case of eatables such as fruits, candies, cookies, and so on, prospects are provided little amounts or free samples to taste in order to satisfy themselves about the quality of these items.
4. Using the Correct Quality and Quantity
The salesperson must display the proper items in the exact size and quality that the clients demand. Customers occasionally inquire about a specific brand or article’s quality. A good salesperson always showcases the brand or quality of the product the customer desires. When a sufficient range of items is displayed to the buyer, he will be able to choose from them. It’s worth noting that displaying too many types might be confusing, while displaying too few kinds may not be enough to persuade clients.
5. Perform a demonstration
If the salesperson displays or exhibits the qualities of the goods to the consumers, he can better pique their attention and raise their desire. Because demonstration is a vital aspect of a successful presentation, it undoubtedly produces a favourable image in the thoughts of the buyers. Because a spoken presentation might often fail to persuade a prospect, a demonstration increases the customer’s attention significantly. As a result, to effectively persuade the consumer, the salesperson might emphasise the product display. The client remembers and understands such communications for a long time because of the spectacular display of the product or service.
6. Using the Senses
It is critical for the salesperson to ensure that the approach he presents appeals to at least one of the five senses: sight, touch, hearing, smell, and taste. A presentation should directly appeal to all or part of the clients’ senses, resulting in a desire to acquire them. It can be seen, felt, smelt, and tasted in the case of consumables. It is simple to sell a product after it has been discovered to appeal to one or more of the buyers’ senses. relevant items of the exact size and quality that the clients require Customers occasionally inquire about a specific brand or article’s quality.A good salesperson always showcases the brand or quality of the product the customer desires. When a sufficient range of items is displayed to the buyer, he will be able to choose from them. It’s worth noting that displaying too many types might be confusing, while displaying too few kinds may not be enough to persuade clients.
7. Performing Tests
The results of product tests significantly boost prospects’ trust. To establish the product’s claim and excellence, the salesman might recommend a variety of standard tests.
8. Goods Handling
Words aren’t always enough. As a result, the salesperson should both handle the product and enable the prospects to handle it. Before making a purchase, potential purchasers may have a strong need to handle the merchandise. This holds true for everyone. The prospect checks that the product is worth processing, as well as in terms of pricing and claims, by touching it personally. The salesman appeals to the senses of touch and sight by enabling the buyer to handle the product.
THE APPLICATION OF TECHNOLOGY IN SALES
Many sales managers and teams are virtually always plugged into their displays, gadgets, applications, and internet tools these days.
One hazard is succumbing to the temptation of being an armchair quarterback who never leaves the couch and fails to form relationships. Relationships are still fundamental to sales (which entails personal encounters with customers) and sales management, no matter how much technology we rely on (which involves personal interactions with the sales team).
Another risk is to be frightened by technology and fail to properly utilise its potential. Because technology in sales might be daunting, it’s important to realise that you don’t have to embrace every new innovation as a manager. Instead, concentrate on implementing the technologies that will result in the greatest improvements in performance and proLet’s look at some fundamental technological tools and how sales managers may utilise them to boost their sales success.
1. Customer Relationship Management
The majority of sales businesses now employ a CRM system. CRM helps sales managers to follow transactions as they travel through the pipeline and gives improved visibility into sales possibilities. Sales managers may increase forecast accuracy by monitoring these prospects and reviewing stage, likelihood, and velocity.
However, you’re not getting the most out of CRM if you’re only utilising it to get insight into sales possibilities and generate improved sales projections. A sales manager isn’t using CRM’s power to raise win rates until they leverage insights from CRM data to actively teach reps (i.e. deal coaching).
2. Face-to-Face Video Conferencing
Video conferencing used to need the employment of large, cumbersome, and expensive equipment. Anyone may now participate in a video conferencing call. For sales managers whose salespeople work remotely, this has proven a huge benefit.
Many sales managers, however, still pick up the phone or send emails to their agents as a default. Don’t underestimate the importance of video technology. On a video conferencing conversation, body language, facial expression, and energy level are all visible, however on a regular phone call, they are disguised.
3. Virtual Education
To develop their talents, salespeople no longer need to attend in-person events or attend classroom training. Sales managers may give salespeople with options to interact with sales training at any time, from practically anywhere, thanks to virtual learning platforms (VLT) and Learning Management Systems (LMS).
The idea, once again, is to use these tools to reinforce and improve coaching and group cooperation. It’s not enough for salespeople to log into an LMS, do a few quizzes, and then go. To develop their selling abilities, salespeople still want direct involvement and feedback from supervisors.
4. Cellular Devices
Today’s salesmen use a variety of mobile devices, not simply phones. They’re utilising iPads, computers, and other gadgets to assist them on a daily basis while selling.
For example, sales acceleration software from QStream (one of our partners) may transmit questions in the form of real-world sales scenarios to a salesperson’s mobile device. Managers may see how successfully their sales staff is grasping the skills and ideas by having salespeople provide replies. Because sales managers can detect skill gaps and customise coaching efforts accordingly, this reinforces selling abilities in a very practical way.
5. Social Media Sites
As more millennials enter the sales force, social technologies are receiving a lot of attention. Sales managers, in my opinion, can give much-needed direction to salespeople who are attempting to use too many platforms at once. Focus on building a high-quality presence on the primary social networks that your target clients use instead of several networks. LinkedIn and Twitter, for example, have shown to be extremely effective for B2B sales.
All of these technological solutions enable sales managers to communicate with their sales staff more frequently and effectively.
Any sales manager’s role is to lead, manage, and motivate salespeople. This necessitates sales managers being visible and establishing personal interactions with individual sales people. You won’t be able to do it efficiently if you spend all of your time in front of a screen.
Most significantly, sales managers must develop into excellent instructors who can assist their salespeople in improving their selling skills. To be an effective sales coach, you must see your salespeople in action rather than simply collecting statistics on their actions and sales calls. We should go on sales calls with them and study how they connect with clients. This will allow you to see their strengths and shortcomings, give criticism, and assist them in developing the necessary abilities. You will see a significant boost in sales performance if you provide continual sales coaching.
Role of technology on sales
Definition
Sales management is the process of planning, staffing, training, managing, and regulating organisational resources in order to achieve an organization’s sales goals in an effective and efficient way. Organizations are powered by revenue, sales, and sources of finances, and the management of that process is the most vital role.
A Brief History
- Electronic Funds Transfer (EFT) was invented in the 1970s and is used by the banking sector to send account information across secure networks.
- Electronic Data Interchange (EDI) for e-commerce within firms — Used by businesses to communicate data from one business to another in the late 1970s and early 1980s.
- 1990s: the World Wide Web on the Internet provides simple technology for publishing and disseminating information – Makes doing business cheaper (scale economies) – Enables a wide range of commercial operations (economies of scope)
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The Impact of Technology on Sales
Technology is helping retail enterprises to become better prepared in the modern economies of the globe, with the benefits being ultimately client oriented. Technology advancements will enable firms to become more cost-effective, visible, and better product delivery throughout the supply-retailer customer chain. Because of the vast and positive benefits of technology, the future role of technology in the economy might have a significant impact.
There are three major kinds of hardware and software products that have become practically indispensable in retailing:
Customer Interfacing Systems
(a) Scanners and Bar Coding: Scanners and bar coding are used to identify an item, and pre-stored data is used to compute the cost and provide the total bill for a customer. For example, Big Bazaar and Monika Supermarket.
b) As a consumer interface, the Internet is fast growing, decreasing the necessity for a customer to physically visit the shop. For example, Walmart and Asian Paints.
c) Credit card payment has become extremely common, allowing for a quick and simple payment process. A new advancement in this field is electronic cheque conversion, which converts a cheque electronically by transferring transaction information to the store and the consumer’s bank. For example, ebay and Times Shopping.
2. Support Systems for Operations
(a) ERP System: Various Enterprise Resource Planning (ERP) vendors have created retail-specific ERP systems that assist in the integration of all processes, including warehouse, distribution, front and back office shop systems, and merchandising. An integrated supply chain aids the merchant in keeping stock, receiving supplies on schedule, avoiding stock-outs, and so lowering costs while providing better service to the client.
It contains the following features: – Inventory management software. – Assists in the analysis of various departmental operations. – Assists in reducing lead times by automatically placing orders.
(b) Customer Relationship Management (CRM) Systems: Retailers now have genuine access to customer data because to the advent of loyalty programmes, mail order, and the Internet. Retailers may use data warehousing and mining technology to make sense of their customer data and apply it to their company. It contains the following: – make use of a database management system (DBMS) – Every query is logged for future strategy improvement.
(c) Advanced Planning and Scheduling Systems (APS): APS systems may increase management throughout the supply chain, from raw material suppliers to the retail shelf. They allow operations like long-term budgeting, monthly forecasting, weekly manufacturing scheduling, and daily distribution scheduling to be consolidated into a single overall planning process utilising a single set of data.
3. Strategic Decision-Making Aids
a) Location of the Store Residents’ demographics and purchasing habits might be utilised to evaluate several potential locations for new establishments. Today, software programmes assist retailers not just with location considerations, but also with store sizing and floor-space decisions.
b) Visual merchandising: The store manager’s gut instinct on how to put and stack things in a store is no longer used. He now has access to a bigger number of visual merchandising tools to assess the impact of his stacking alternatives.
Advantages
1) Market penetration has increased.
2) Assists in cost reduction.
3) Sales executive surveillance
4) The use of loss prevention technologies such as burglar alarms and CCTV to deter shoplifting.
5) Real-time data aids in the automated placing of orders.
6) Examining historical data in order to forecast the future and design future tactics.
7) Workforce development.
8) Supply Chain Management that is effective.
9)Successful customer relationship management.
Disadvantages
1. Initial Investment: New technologies might have a substantial initial investment. In comparison to the cash investment necessary to buy technology, hiring new personnel might be comparatively inexpensive in the near run. A new employee usually works for a few weeks or a month before being paid, which means the employee earns money before the firm needs to spend money. Before technology can help with manufacturing, it requires a significant upfront investment.
2. Teaching Costs: Businesses that install new technology must cover the costs of training employees on how to utilise it. In the short run, upgrading from an existing technology to a new one reduces productivity. New technologies may not always be more efficient than older ones, resulting in squandered resources and training hours.
Despite the fact that updates are available, many organisations choose to run their computers on obsolete operating systems and applications. Converting to new software involves time and money, and the benefits aren’t always obvious.
3. Unemployment: With technology, one person may be able to generate the same amount as two or three people without it. Certain jobs may become outdated or redundant as a result of increased productivity, resulting in layoffs and job losses. Furthermore, the cost of maintaining new technology is frequently lower than the cost of paying for a comparable level of labour productivity once the initial cost of installing new technology has been paid. Large firms find technology appealing because of the long-term savings, often at the expense of labour.
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