5. Lecture: Sales in complex environments Flashcards
Name the 3 aspects of sales methodology that should be included in a successful training programme (AF, ch. 5)
- Buyer Journey
- Sales Process
- Qualifying matrix
(AF, ch. 5).
What does “the buyer journey” refer to and what role does it play in a sales training programme? (AF, ch. 5)
The buyer journey is the general steps through which a company progresses as it purchases a product. It is important to start the sales methodology/training programme with the buyer journey because this increases that chances that the buyer’s needs will remain at the front and center during all aspects of the selling process (AF, ch. 5).
What does sales process refer to, and what role does it play in a sales training programme? (AF, ch. 5).
The sales process supports the customer along his buying journey. This means that defining the buyer journey should be done prior to creating the sales process (AF, ch. 5).
What are the potential steps in the sales process? (AF, ch. 5).
- Prospecting (calling and emailing a potential customer)
- Connecting (prospecting will often lead to a connecting call where the salesperson introduces the company and establishes a bit of rapport with the project.
- Follow-up discovery call (more information about goals and objectives are shared)
- Demo/presentation of the product
(AF, ch. 5).
What does “qualifying matrix” refer to in a sales training programme? (AF; ch. 5).
The qualifying matrix refers to the information needed in order to evaluate whether the company is able to help the buyer or not, as well as whether the buyer wants help. This information is gathered at various stages of the sales process (AF, ch. 5).
What does BANT stand for? (AF, ch. 5).
BANT stands for Budget, Authority, Need and Timing.
B (qualification for budget) means that the sales person has validated that the value generated by the solution is greater than the cost and that the budget to cover the cost is accessible)
A (qualification of authority) The sales person has validated the budget criteria with the individual who is in charge of the budget.
N (qualification of need) means that the sales person understands the goal the potential buyer is trying to achieve or the problem the potential buyer is trying to solve.
T( qualification of timing) means establishing a specific calendar time by which the potential customer would like to address the need.
(AF, ch. 5).
What is the relation between sales training and sales methodology? (AF, ch. 5).
Once the sales methodology is defined, the sales training program should be structured according to it
How can you develop sellers that are trusted in this new paradigm, where the power is in the hands of the buyer? (AF, ch. 6).
One thing that worked for Hubspot is training people the day-to-day job of potential customers. This means that if you’re selling something to a marketer, rather than learning a script or a pitch, a part of you learning programme should be to be in their shoes doing what they do. This way, you’ll be able to guide, help and understand them and their needs (AF, ch. 6).
Why is the useful to be not just a sales person, but also being a thought leader on social media? (AF, ch. 6).
Today, the seller/buyer relationship is much like a doctor and her patient. You trust experts like you trust your own doctor. An social media presents an opportunity for all salespeople to be perceived as trusted advisors by their buyers. Sales people should take som time normally spent prospecting and reallocate it to social media participation - the reward is greater (AF, ch. 6)
What are the three things that should be considered when a training programme is developed? (OX, ch. 9).
- Who should be trained?
- What should be the primary emphasis on the training program? (a training program can encompass the following: product knowledge, company knowledge, customer knowledge and selling skills)
- How should the training be structured? (on-the-job training, experience vs. formal program, web-based or instructor-based etc.)
(OX, ch. 9).
What are the general objectives of sales training? (OX, ch. 9)
- To increase productivity (maximize sales performance)
- improve morale (Increase Sales person motivation)
- lower turnover
- improve customer relations, and product better management of time and territory (OX, ch. 9).
What are the steps of the process of developing a sales training program? (OX, ch. 9).
- Analyze the training needs of the sales force. This analysis should answer the following questions:
- Where in the organization is training needed)
- What should be the content of the training program?
- Who needs the training?
- Develop and implement program. (Deciding whether to develop a program or getting some external organization to do it. )
- Evaluate and review program. (A critical step that must address several questions, including: What do we measure? When do we want to measure? How do we do it?)
(OX, ch. 9).
