CHAPTER 16 Opportunity Management: The Key to Greater Sales Productivity 1

Learning Objectives Discuss the four dimensions of opportunity management List and describe time-management strategies Explain factors that contribute to improved territory management

Learning Objectives Identify and discuss common elements of a records management system Discuss stress management practices

Increasing Sales Volume The successful salesperson depends on: Good self-management Good record keeping Use of self-discipline in scheduling time and analysis of their own performance

Opportunity Management A four-dimensional process involving: Time management Territory management Records management Stress management

Time Management Time-consuming activities Time management On average, 60 percent of time spent on administrative duties and travel Log keeping shows where time is spent, identifies “time wasters” Time management Sound time management can lead to increased sales

Time Management Methods Develop personal goals Prepare daily “to do” lists Maintain planning calendar Organize selling tools

Goal-Setting Principles Reflect on areas where change is desired Develop written plan—with steps Modify your environment Monitor behavior and reward progress

The To-Do List A daily list of activities can help set priorities and save time. Today this list is recorded electronically in most CRM systems like Salesforce.com. See the website at www.salesforce.com FIGURE 16.1

Saving Time with Technology Conference calls Meetings in cyberspace (Web conference) Some customers prefer telephone/e-mail contact Cell phones/pagers as timesaving tools Electronic file transfers Heather Gardner uses her Blackberry and Microsoft Outlook calendar to record all of her planned activities.

Monthly Planning Calendar A monthly plan of activities can also set priorities and save time. Like other types of planning lists, it is recorded in CRM systems like Salesforce.com. See the website at www.salesforce.com FIGURE 16.2

Territory Management Step 1: Classify Customers Classify according to potential sales volume Track current dollar amount and potential dollars Realize a small amount of customers may provide a majority of sales volume

Territory Management Step 2: Develop Routing and Scheduling Plan Map territory/use smaller zones if large Develop routing plan for a specific time frame Schedule around customer needs Establish tentative calls Use 80/20 rule

80/20 Rule 80 percent of time spent calling on most productive customers 20 percent on prospects and smaller accounts

Sales Call Plans Action plan initiated by sales manager Ensures efficient and effective account coverage Plan discussed with sales staff

Sales Call Plan A sales call plan can also be recorded in CRM systems like Salesforce.com. See the website at www.salesforce.com FIGURE 16.3

Records Management Some complain about “paperwork” time Accurate and timely records are important Facilitates closing sales and improves customer service

Common Record Types Customer and prospect files Call reports Expense records Sales records

Application: Computers Most firms provide sales staff with portable computing power and some type of CRM system. If necessary, use a database or spreadsheet program and create your own PCs and PDAs allow you to increase selling time and enhance customer service

Application: CRM Systems CRM systems like Salesforce.com organize and manage many types of sales and customer records See the Website

Stress Refers to two simultaneous events: An external stimulus (a stressor) The physical and emotional responses to that stimulus, such as anxiety, fear, muscle tension, or surging heart rate Too much stress is unhealthy if unchecked

Stress Management Develop stress-free work environment Maintain optimistic outlook Practice healthy emotional expression Maintain healthy lifestyle

Five-Minute Stress Busters Take 5 minutes to identify and challenge unreasonable ideas that produced your stress Take a 5-minute stress release outdoor walk Enjoy stress relief with a 5-minute neck and shoulder massage Spend 5 minutes visualizing yourself relaxing at your favorite vacation spot Take a 5-minute nap after lunch Spend 5 minutes listening to a recording of your favorite comedian Barry L. Reece and Rhonda Brandt, Effective Human Relations: Personal and Organizational Applications (Boston: Houghton Mifflin Company, 2008). Reprinted by permission of the publisher. Table 16.2

Key Concept Discussion Questions Discuss the four dimensions of opportunity management List and describe time-management strategies Explain factors that contribute to improved territory management

Key Concept Discussion Questions Identify and discuss common elements of a records management system Discuss stress management practices

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