18 Personal Selling Professor Close. Introduction to Personal Selling (1) Importance: almost every company can benefit from personal selling –10% of workforce.

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Presentation transcript:

18 Personal Selling Professor Close

Introduction to Personal Selling (1) Importance: almost every company can benefit from personal selling –10% of workforce (how many have? How many would like to?) –Often largest operating expense (up or out; car dealers) –Customer contact (info & customer impressions)

Introduction to Personal Selling (2) Sales management: decisions –Sales force # (of salespeople; big issues with commissions, customers and turnover) Compensation –Straight salary: most security, control, and simplicity –Straight commission (most incentive) »Direct: Salary »Indirect: part of firm earnings

Introduction to Personal Selling (3) –Compensation (cont…) Align incentive with firm interest (Sears) Combination: most popular (some security and incentive) Supervision (Nadler and Golf) Skills/training Olde) –Can you learn? Some product info and customer needs (indstr; Nadler: uniforms, face lift) –Why not train?

Introduction to Personal Selling (4) Who to serve? –Sales territory: geographic area; clear responsibility (overlap; lead in another) –Major accounts: special treatment for large (fleet sales for cars)

Introduction to Personal Selling (5) Selling techniques –Customers (80-20 rule) –3 sales presentations Prepared: more talk, canned leads to trial close, low skill (telemarketing) Consultative: listen, less talk, help solve problems, customers differ, high skill Selling formula: start prepared then steps outlined

Job of Personal Selling (1) Duties: –Order getting: without order getters, many of the products we now rely on – ranging from mutual funds to air conditioners – might have died in the market introduction stage Seek new clientele with sales presentation Prospecting: follow all leads (allocate time on potential) – insurance, graduate

Geico Commercial

Job of Personal Selling (2) Duties (cont…) –Order taking Serve current customers and complete routine sales Regular route and customers (relationships as much as selling: Brian Allen) Low aggression and pressure: pejorative

Travelocity Commercial

Job of Personal Selling (3) Duties (cont…) –Supporting salespeople: no selling, help order getters & order takers Missionary: entry level –Goodwill, stimulate demand for products –Tasks: training, coop ads, sales promotion (increase sales 2-3x) Technical specialists: often after o.g. & o.t. visit –Scientists and engineers –Provide details on complex processes (installation, maintenance etc.) –May mix three jobs (retraining people)

Summary READ: Sales quotas ( ) 3 sales presentations ( ) Order getting vs. order taking vs. supporting Payment methods 3 types of sales presentations Any questions??