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Sales Management Midterm > Midterm > Flashcards

Midterm Flashcards

1
Q

Professional Selling

A
  • developing and maintaining relationships
  • meaningful conversations
  • problems and solutions
  • informed decisions
  • about fit or value
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2
Q

drivers of sales performance

A
  1. people
  2. processes
  3. programs
  4. tools and technology
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3
Q

what is the ratio of sales reps to sales managers?

A

7:1

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4
Q

frontline sales manager

A
  • manages individuals

- outward facing

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5
Q

middle-level manager

A

manages managers

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6
Q

what is the #1 job of sales managers?

A

make the number!!

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7
Q

top 2 characteristics in a salesperson

A
  1. empathy

2. drive

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8
Q

increase number of qualified deals

A
  • hire more sales reps
  • hire more sales associates
  • improve lead generation initiatives
  • improve lead nurturing initiatives
  • improve discovery and qualification process
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9
Q

increase average selling price

A
  • sell more higher priced products
  • acquire/develop more higher priced products
  • sell to larger customers
  • price increases where possible
  • multiyear deals where possible
  • control discounting
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10
Q

improve win rate

A
  • improve discovery/qualification process
  • implement repeatable sales processes and best practices
  • cover all stakeholders in the decision making process
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11
Q

shorten sales cycle has the biggest effect on performance!!

A

improve discovery and qualification process

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12
Q

sales effectiveness drivers categories

A
  1. definers
  2. shapers
  3. enlighteners
  4. exciters
  5. controllers
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13
Q

4 positions on org. chart

A
  1. inside sales
  2. outside sales
  3. VP sales
  4. chief rev. officer
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14
Q

sales process

A
  1. ideal prospect profile
  2. target markets
  3. prospecting sources
  4. prospecting activities and call-to-action
  5. build a funnel of candidates
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15
Q

STAR

A

situation
task
action
result

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16
Q

characteristics of sales management roles that make it unique

A
  1. can’t watch reps work
  2. complicated jobs
  3. global endeavor
  4. speed of change
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17
Q

5 ways to succeed/win

A
  1. focus on customer
  2. build a great team
  3. have a consistent approach
  4. provide the right tools
  5. listen to your salespeople
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18
Q

gozinto model

A
  • one box has an arrow that goes into another box
  • makes managing seem simple
  • always one box that falls short
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19
Q

role perceptions

A

understanding of what they should do

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20
Q

aptitude

A

mental horsepower (born with them)

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21
Q

skill level

A

selling related skills (can be learned)

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22
Q

motivation level

A

desire to start a task, work hard, and persistent when task gets difficult

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23
Q

internal reward

A

good feeling

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24
Q

external reward

A

paycheck, raise, etc.

25
Q

3 ways to determine salesforce sizing

A
  1. breakdown method
    - -based on estimates of sales volume
  2. build up method
    - -based on estimates of selling time
  3. salesperson profit method
26
Q

breakdown method

A
  • simplest way/done quickly
  • may not be most accurate
  • estimate best/worst case scenarios
27
Q

salesperson method

A
  • most complicated method
  • each salesperson provides profit to the whole company
  • adding additional salespeople will eventually start to diminish the amount of profit per salesperson
  • always add another salesperson as long as the profit per salesperson doesn’t decrease
28
Q

criteria for territory management

A
  1. geography
  2. product/service time
  3. market/customer type
  4. create different customers by industry
  5. selling methods
29
Q

big territories

A
  • lots of travel time
  • high workload
  • end result is complaints from representatives and customers
30
Q

small territories

A
  • limited opportunities

- overly aggressive with customers

31
Q

5 tests to evaluate if your territories are correctly sized

A
  1. customer test
  2. rep morale test
  3. selling activity test
  4. competitors
  5. financial tests
32
Q

customers

A

pay us

–can be consumers!!

33
Q

consumers

A

use our product

34
Q

direct channel

A
  • consumer is the customer
  • simplest sales channel
  • service, delivery, and support
  • used for large customers
  • online catalog for small customers
35
Q

intermediary channel

A
  • consumer is NOT the customer
  • hold larger assortments for buyers
  • consumers have better overall experience
36
Q

steps to hiring

A
  1. who’s in charge of the hiring decision?
  2. how may people to hire?
  3. conduct a job analysis and prepare a detailed job description
  4. what sources will you use?
  5. specific steps to select candidates
  6. tools to rate candidates
37
Q

poor job description

A
  • too broad
  • long paragraph on company
  • college degree
  • 3-5 years sales experience
  • hardworking
  • competitive
  • persistent
38
Q

quality job description

A
  • more specific
  • saves you time
  • guides the rest of the hiring process
  • legal protection
39
Q

personal agility

A
  • the attribute closely aligned with success across all levels and roles
  • respond effectively to feedback
  • grow their personal talents
  • acquire new skills quickly
  • setbacks = learning opportunities
40
Q

what to look for in interviews

A
  • context/background of situation
  • steps/processes used to address the situation
  • outcome/results of the experience
41
Q

4 most common misses when it comes to onboarding

A
  1. preparation miss
  2. selection miss
  3. early days miss
  4. management miss
42
Q

preparation miss

A
  • frontline manager is responsible
  • unclear expectations
  • inconsistent coaching
  • insufficient resources
43
Q

selection miss

A
  • wrong individuals

- missed key signs

44
Q

early days miss

A

disconnect with new hire

45
Q

management miss

A

engagement to role and business

46
Q

3 C’s of onboarding

A
  1. capability
  2. connections
  3. commitment
47
Q

capability

A
  • shorten time to productivity
  • define what good looks like
  • customize plan
  • apply coaching to inspire
48
Q

connections

A
  • help new hires build connections

- mission and purpose

49
Q

commitment

A
  • more likely to remain with organization

- positive business results

50
Q

2 parts of success for new hire

A
  1. what

2. how

51
Q

expectancy

A
  • belief of a salesperson
  • effort = performance
  • trying harder = selling more
  • lower sales yield low expectancy levels
52
Q

intrumentality

A
  • link between performance and rewards

- higher performance = greater rewards

53
Q

valence (for reward)

A
  • how much they like the reward
  • fair compensation system
  • desirable reward = work harder to gain reward
54
Q

3 things salespeople must believe about their jobs

A
  1. try harder = perform better
  2. perform better = more reward
  3. must value reward
    OR
  4. salespeople who believe they can do it…
  5. … will try hard …
  6. …when they value the reward
55
Q

4 common sales training mistakes

A
  1. assuming sales and product training are the same thing
  2. sales managers are neglected or it’s assumed they already know how to coach
  3. overemphasis on the content in the sales training process
  4. only using financial performance to measure effectiveness
56
Q

good sales training seeks to achieve 3 objectives

A
  1. provide basic knowledge of what good sales techniques even are
  2. have reps apply these techniques
  3. have reps diagnose their efforts
57
Q

4 questions to ask when measuring the success of a sales training program

A
  1. did the sales training improve the attitudes of the reps that went through it?
  2. did the sales training improve the basic knowledge of the reps?
  3. did the training change the way my reps go about their day-to-day activities?
  4. can we see higher performance in our sales reps due to the completion of our training program?
58
Q

2 problems heard with selling training programs

A
  1. what

2. when

Sales Management Midterm (1 decks)

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