Chapter 1-Everyone is a sales person

Personal Selling

• Two-way flow of communication between a buyer and seller, paid for by the seller and seeking to influence the buyer’s purchase decision. Share information and feedback face-to-face. Helps create strong bonds and relationships

Promotion Mix

Four main elements of marketing communication (advertising, sales promotion, personal selling, and public relations

Advertising

• Typically one directional. Communicates the sellers message to the buyer

Personal selling is a

 a much more effective tool for than just advertising or promotion.

Challenges of personal selling

• Expensive- can cost hundreds of dollars per visit

• Message consistency.-Each salesperson has to communicate a message that is consistent with other salespeople from the organization.

Advantages of personal selling

• Immediate feedback- Salesperson can see nonverbal communication that can give insight

Personal selling is the most important factor in

in b2b selling as they are financially larger and take longer to complete as well as involve multiple people

Factors that influence the degree to which firms use personal selling and is more effective

(New to the world, Infrequently purchased, Highly technical or complex, viewed as risky, customizable, high price)

Sales Analytics-

•  The practice of generating insights from sales data, trends, and metrics to set targets and forecast future sales performance)

CRM (Customer relationship management)

• technology for managing all of a company's relationships and interactions with customers and potential customers. Can help see previous history and orders

Virtual selling

• Collection of processes and technologies where salespeople engage with their customers engage remotely using a mix of synchronous and asynchronous communications

Social Selling

 The process of developing, nurturing, and leveraging relationships online to sell products or services. Involves meeting buyers on the social network platforms where they already conducting product research

Social Listening

• The monitoring of your brands social media channels for any customer feedback and direct mentions of your brand or discussions regarding specific topics like competitors or the Industry to gain insight

New-Business salespeople

• New-business salespeople- Finding new customers and securing their business. Sales prospect is likely to be client from competing firm. Involves convincing to drop one or more competitors. These type of salespeople must display high levels of credibility, creativity, and professionalism.

• Channel sales representatives- Look to win, maintain, and expand relationships with channel partners

Order-takers

• Order-taker salespeople- Representatives that primarily process orders that a customer initiates. Most commonly found within retail and in-bound call-center settings

• Delivery salespeople- Product delivery. Responsibilities include checking inventory, stocking shelves, and writing up new orders

• Consultative sellers- Focus on developing long-term relationships. Concentrated on within traditional industrial settings such as machinery, electronic, and metal products. They strive to become trusted advisors to customers. They must develop deep knowledge of the customers Industry, business issues, and needs

• Missionary Salespeople-Generate sales by promoting the firm and encouraging demand for its good and services

• Key account sellers- Focus on establishing and maintaining partnership relationships with a small set of three to five named accounts. They engage in joint planning and guiding investments.

• Sales force management- Involves the planning, direction, and control of personal selling activities. They establish sale objectives, forecast and develop annual sales quotas. Work with human resources to recruit, select, train, supervise, and evaluate sales employees. Work directly in field with assigned reps to close sales, and serve as conduit for information received from the front lines to senior management about ongoing market trends and competitive actions

• Nonprofit organizations-motive is something other than to make a profit. Organized to further social cause. Must continually bring in new donors and workers. They utilize sales and CRM tools to help raise money

Ethics in personal selling

• Many companies invest in training programs to better prepare employees to make good decisions when confronted with a potentially unethical situation

• Sales and Marketing Executives International (SMEI) and Canadian Professional Sales Association (CPSA) have incorporated ethical code of conduct into their sale and marketing certification programs.

• SMEI Pledge

-1. I hereby acknowledge my accountability to the organization for which i work and to society as a whole to improve sales knowledge and practice and adhere to the highest professional standards in my work and personal relationships.

-2. My concept of selling includes as its basic principle the sovereignty of all consumers in the marketplace and the necessity for mutual benefit to both buyer and seller in all transactions.

-3. I shall personally maintain the highest standards of ethical and professional conduct in all of my business relationships with customers, suppliers, colleagues, competitors, governmental agencies, and the public.

-Skills needed to be a great salesperson

• Active listening

• Communication

• Time Management

• Solution Development

• Attention to Detail

Relationship selling

Sales approach that involves building and maintaining customer trust and over a long period of time.

Salesperson represents the firm to customers and often represents the

• interest of customers within the firm

Salespeople play one of the most important roles in marketing research as they provide

• market feedback on competitors and trends in the macro environment

CLV(Customer Lifetime Value)

• Net present value of customers business over the span of it’s relationship with an organization