Module 8 Flashcards
Provide the Value: Sales Management and the Multi-Channel World
List the environmental influences:
- Customers
- Competitors
- Ethical and Legal Factors
- Technology
Explain the customers environmental influence:
- Understanding their needs, preferences, and behaviours is essential for successful selling.
- Adapt strategies to cater to different customer segments, develop personalized solutions, and to ensure customer satisfaction and loyalty.
Ways consumers can become co-producers:
- Idea generation
- Customization
- Crowdsourcing
Explain the competitors environmental influence:
- Be aware of competitors’ products, pricing, and marketing strategies.
- Analyzing strengths and weaknesses of competitors helps identify opportunities for differentiation.
Explain the ethical and legal factors environmental influence:
- Adhering to ethical and legal standards helps to maintain the company’s reputation and avoid legal trouble.
Explain the technology environmental influence:
- Technology has revolutionized the sales function in recent years.
- Sales teams now have access to various tools and platforms that can improve processes and provide valuable insights.
What are the internal forces that drive sales change?
Company strategy and performance challenges.
Company Strategy
Changes in company strategy have a profound impact on the sales force.
Performance Challenges
Sales teams may encounter challenges due to increased competition, changing customer preferences, or internal inefficiencies.
What types of alignment is needed for great marketing and sales performance?
- Alignment with company strategy
- Target market and value proposition
- Sales channel strtategy
- Sales process and customer journey
- Continuous improvement and effectiveness
- Integration of technology
- Flexibility and adaptability
What is alignment with company strategy?
The marketing and sales strategy should align with the broader company objectives and goals.
What is target market and value proposition?
The company strategy defines the target market and value proposition. Marketing and sales strategies are built around delivering the value proposition to the target customers effectively.
What is sales channel strategy?
The company’s strategy influences the choice of sales channels.
What is sales process and customer journey?
The marketing and sales strategy outlines the sales process and customer journey. It defines how leads are generated, nurtured, and converted into customers.
What is continuous improvement and effectiveness?
In pursuit of greater effectiveness, the sales function is constantly evolving.
What is integration of technology?
The company’s strategic vision often includes embracing technology for enhanced efficiency and better customer experiences.
What is flexibility and adaptability?
As the business environment evolves, the company’s strategy may need adjustments, and subsequently, the marketing and sales strategies must adapt accordingly.
Multi-Channel World
An environment where customers have
numerous options to interact and make purchases through various channels.
What is the multi-channel approach?
Companies seamlessly integrate different channels, offering customers a
consistent and cohesive experience across all touchpoints.
Omni-Channel Approach
Integrating all sales channels (online, offline, mobile, social media, etc.) into a seamless and cohesive experience.
Customer-Centric Focus
Using data and analytics to gain insights into customer journeys and preferences, enabling personalized and relevant interactions.
Technology Integration
Embrace technology that supports multi-channel selling.
Unified inventory management
Real-time inventory tracking across all channels to maintain accurate stock levels and ensures customers can access products when and where they want.
Consistent Messaging and Branding
The sales message and brand identity must remain consistent to help build trust and strengthen brand recognition.
Sales Team Training
Sales reps should be well-versed in using various sales channels and be adaptable to shifting customer preferences.
Seamless Customer Support
Ensure that your customer support team is equipped to handle queries across all channels.
Data-Driven Decision-Making
Leverage data to monitor sales performance across different channels.
Flexibility and Agility
Sales management needs to be agile and open to experimentation, adapting strategies based on customer feedback and market trends.
Integration of online and offline experiences
Create a harmonious connection between online and offline experiences.
Leveraging Social Media Influencers
Utilize social platforms for engagement, communication, and leveraging influencers to reach a broader audience.
