Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
33 Cards in this Set
- Front
- Back
|
Where do sales managers come from? |
Successful sales people |
|
|
Reasons for going into sales |
1. Good pay 2. Flexible schedule 3. Opportunity to travel 4. Control Income 5. Entertaining |
|
|
Responsibilities of a Sales Manager |
1. oversee/ train sales people 2. Recruitment 3. Motivation 3. Compensating the sales force 4. communication to the director sales 5. Being approachable |
|
|
Before a sales person can sell, the need to be able to sell themselves by: |
1. Having a voice 2. Controlling nervous habits 3. Being social intelligence 4. Good handshake 5. Knowlegable |
|
|
Stages of the selling Process |
1. Prospecting 2. Pre-Approach 3. Approach 4. Presentation 5. Handling Objections 6. Negotiation/ Closing the sale 7. Servicing the Accounts |
|
|
When prospecting, the vendor has to have: |
1. Authority to buy 2. Need for product 3. Money to buy |
|
|
Ways to prospect |
1. Warm calling 2. Cold calling 3. Referrals - Best method 4. Join networking clubs 5. Send mailers out |
|
|
What does the pre-approach method entail? |
Doing research - Private or branded label - How do they advertise - who their competitors are |
|
|
In the presentation seller should: |
1. Create a need for the product 2. Include visual aids 3. Detail the item 3. Have a dialogue-LISTEN |
|
|
Things vendor can negotiate |
delivery dates, size, case pack= assortment of colors or sizes |
|
|
What does the buyer want the most? |
For you to ship what they bought & ship it on time. |
|
|
Interviewing Process |
1. Telephone 2. Video Conference 3. Face-to-face |
|
|
What type of questions will a good candidate ask? |
Corporate culture? new hire or replacement? Avg time sales person works there. |
|
|
What should the employer do after the 1st interview? |
Email or letter candidate telling them the next step in the process. |
|
|
What does the 2nd interview usually consist of? |
Bring another person in, more detailed questions, personality exam, may have to demonstrate their skill. Ask them to do a trial. |
|
|
What is a factor? |
Financial institution, bank, that advises retailers about their vendors. They are used because they don't want to deal with the responsibility if the the vendor doesn't pay. |
|
|
Override |
Compensation for the sales manager in addition to what the sales person made. |
|
|
Sales Managers are judged off: |
Legacy. How many sales people were promoted &able to train |
|
|
How to respond to objections when closing the sale. |
No "open to buy" = if they did have $$, would they buy? Happy with current vendor = test order |
|
|
K.I.S.S |
Keep it Simple Stupid - Method of selling that makes people feelcomfortable with you and understand what you are saying. |
|
|
Benefits of Motivated Sales Force |
-Increase sales..employee are more happy, positive & productive -Aids in retention, reduces recruitment expenses -Confident (want to take on new responsibilities) Less employee turnover..high retention rate |
|
|
Benefits of Retention |
-long lasting relationships with their clients -more open to constructive criticism -Good reputation of retention. |
|
|
Perks of Sales Contests |
Gift cards to restaurants, tickets to shows, title changes, free lunches, sales person in "hall of fame" |
|
|
Things to Evaluate on Employees |
-Sales figures based on what expected to do 1. Product knowledge, competition, industry 2. Time management 3. Personal characteristics = enthusiasm, confidence, eye contact, body language, social intelligence 4. New Accounts opened since last evaluation 5. Retention of old accounts 6. Customer relations 7. Expenses 8. Profitability 9. Returns 10.Prospecting |
|
|
When evaluating employees... |
They should know in advance, should be in a quiet environment, and they should know WHAT they are being evaluated on. |
|
|
Good time management habits |
1. Try to stretch the day. Lunch/ evening appts 2. Avoid spending spending time with people who can't benefit business 3. Respond via text/email unless emergency 4. Keep a log of time spent 5. Delegate your time for 1 place 6. Refer back to diary to reflect where time was spent 7. Reserve time to make sure things get done (prospecting) |
|
|
Draw vs. Commission |
Your employer is advancing you money because they know you have on going expenses. |
|
|
Bonuses depend on the sales person's... |
1. Total sales 2. Profitability 3. New Accounts 4. Retention of old accounts 5. Met or surpassed sales goals |
|
|
Sales Manager Mistakes with Bonuses |
1. Not indicating to employees how lucrative they can be 2. Are they obtainable 3. Are in line within industry |
|
|
Compensation |
1. Salary 2. Benefits 3. Bonuses |
|
|
Top down planning |
sales manager gives sales people sales goals |
|
|
Bottom up planning |
sales people gives sales mangers sales plans ofwhat they hope to accomplish. |
|
|
Sandbagging |
· A sales person who has met their sales figuresfor the year, & it’s the end of the year, they submit the order the firstweek in January -Since they met their sales goal, this gives themmoney in the next year |
