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Chapter 16 Opportunity Management: The Key to Greater Sales Productivity © 2010 Education Canada Inc. 16- * Discuss the four dimensions of opportunity management List and describe time management strategies Explain factors that contribute to improved territory management Learning Objectives © 2010 Education Canada Inc. 16- * Identify and discuss common elements of a records management system Discuss stress management practices Learning Objectives (continued) © 2010 Education Canada Inc. 16- * Hard work must be preceded by careful planning Every moment spent planning saves three or four moments in execution Ability to perceive opportunities and seize them is an important characteristic of high-achieving salespeople Opportunity Management – A Four-Dimensional Process © 2010 Education Canada Inc. 16- * Opportunity Management – A Four-Dimensional Process (continued) © 2010 Education Canada Inc. 16- * Can increase sales volume by: Improving selling effectiveness Spending more time in face-to-face selling situations High priority to improve time and territory management; requires commitment On average 60% of time spent on administrative duties and travel Time Management © 2010 Education Canada Inc. 16- * Time Time consuming activities include: Travel time Waiting for customers Completion of sales records Casual conversation Time spent on follow-through and follow-up Actual face-to-face selling time Keep a time log, then evaluate time spent Time Management (continued) © 2010 Education Canada Inc. 16- * Develop a series of personal goals Career goals, family goals, life goals Prepare a daily “To-Do” list Avoid non-paying activities during work hours Maintain a planning calendar Select one that works for your life Organize your selling tools Time Management Methods © 2010 Education Canada Inc. 16- * Reflect on the things you want to change in your life Develop a written goal-setting plan that includes steps Modify your environment by changing the stimuli around you Monitor your behaviour and reward your progress Goal-Setting Principles © 2010 Education Canada Inc. 1 6- * Many salespeople use PDA’s Personal Digital Assistant – small, personal device that stores information and provides many of the features common to laptop computers E-mails and text messages Memo pad, calendar, expense log, contact information, etc. Maintain a Planning Calendar © 2010 Education Canada Inc. 16- * Selling Tools include: Sales literature Proof sources Business cards Order blanks Samples Storage in a filing system for functional accessibility even in car Organize Your Selling Tools © 2010 Education Canada Inc. 16- * Ask the question “is this trip necessary?” Web conference Telephone Cellular E-mail Facsimile Even couriers Saving Time with Meetings in Cyberspace and Other Methods of Communication © 2010 Education Canada Inc. 16- * Sales Territory – the geographic area where prospects and customers reside Territories may be based on class of customer, sales potential, or industry Territory Management © 2010 Education Canada Inc. 16- * Territory There are key steps: Classify all customers By are code, industry, projected sales Help to establish call frequency Develop a routing and scheduling plan Increase actual selling by reducing time spent travelling to and waiting for customers (continued) What Does Territory Management Involve? © 2010 Education Canada Inc. 16- * Guiding principles: Obtain or create a map of your territory Mark the location of present accounts Consider dividing the territory if necessary Develop a routing plan for a specific period of time (continued) © 2010 Education Canada Inc. 16- * What Does Territory Management Involve? (continued) Develop a schedule that accommodates your customers’ needs Think ahead if free time occurs Decide on frequency of call, think 80/20 © 2010 Education Canada Inc. 16- * What Does Territory Management Involve? (continued) Sales Call Plan – developed with information taken from the routing and scheduling plan to ensure efficient and effective account coverage Developed by Sales Managers Tracks plan to actual performance Sales Call Plan © 2010 Education Canada Inc. 16- * Records Management © 2010 Education Canada Inc. 16- * Records Only keep what will provide benefits to the customer, the salesperson, or personnel who work in sales-supporting areas Should be: Brief Easy to complete Free of request for useless detail Common Records Kept by Salespeople © 2010 Education Canada Inc. 16- * Customer and Prospect “Card” Files Call Reports Activity reports Expense Records Sales Records Of performance Accuracy is important Common Records Kept by Salespeople (continued) © 2010 Education Canada Inc. 16- * Personal selling produces a certain amount of stress with a variety of new experiences: Prospecting Long hours = loss of leisure and family time Stress – reflects two simultaneous events: an external stimulus called a stressor, and the physical and emotional responses to that stimulus Stress Management © 2010 Education Canada Inc. 16- * Stress Too much negative stress hurts relationships and productivity Caused by: Trying to meet sales quota Scheduling travel Missed appointments Large group presentations Lack of feedback Information surplus Stress Management (continued) © 2010 Education Canada Inc. 16- * Here are four stress management strategies: Develop a stress-free home office Separate phone line Establish set “work” hours Maintain an optimistic outlook Learned behaviour Visualization helps (continued) Stress Management (continued) © 2010 Education Canada Inc. 16- * Practise healthy emotional expression Fight or flight response Maintain a healthy lifestyle Exercise program can counter harmful chemicals that build up in your bloodstream after a prolonged period of stress Healthy eating habits Get leisure time Get 7-8 hours sleep per night Stress Management (continued) © 2010 Education Canada Inc. 16- * Identify and challenge unreasonable or distorted ideas that precipitated your stress Take a stress-release walk outdoors Enjoy a neck and shoulder massage Visualize yourself relaxing on vacation Nap after lunch Listen to a recording featuring your favourite comedian Table 16.2 “Five-Minute Stress Busters” © 2010 Education Canada Inc. 16- * Opportunity Management – A Four-Dimensional Process (continued) © 2010 Education Canada Inc. 16- * There are key steps: Classify all customers By area code, industry, projected sales Help to establish call frequency Develop a routing and scheduling plan Increase actual selling by reducing time spent travelling to and waiting for customers (continued) What Does Territory Management Involve? © 2010 Education Canada Inc. 16- * Records Management © 2010 Education Canada Inc. 16- * Records Chapter 16 Opportunity Management: The Key to Greater Sales Productivity © 2010 Education Canada Inc. 16- *