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Einstein - Definition of Insanity
Insanity in the Sign & Graphics Industry Einstein’s Definition Albert Einstein once said “The definition of insanity is doing the same thing over and over again and expecting different results”. Think about this quote for a second and ask yourself, ...
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R² = EOC (Recruitment and Retention = Employer of Choice)
Copyright 2005 Rick Johnson Problems with staffing and retention may not be due to bad hires or a low unemployment rate. In fact, they may be related to poor management insight by not recognizing your employees as a core competency in your business ...
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Inappropriate discounting dramatically shrinks profits. TopMark’s analysis revealed that price cuts of .5%, 1% and 3% reduced gross profit by about 2%, 3% and 10% respectively. (1)
Pricing discretion should be delegated to appropriately trained sales representatives who have demonstrated an ability to sell on total delivered value. That is, those who effectively appeal to customers’ needs for lowered product-life operating costs or other financial benefits. Under this sales approach, product price is a function of return on investment rather than a cost.
Selling on total delivered value requires sales representatives to know their customers’ businesses and profit making formulas. Supplementing this information should be a knowledge of: 1) customer-specific costs and price data (including won and loss quotes) and 2) competitors’ price levels and value propositions. Thus armed, sales representatives will be able to:
> Identify those customers whose business costs or profits can be improved significantly through the product/service solution they’re offering;
> Quote the best price indicated by the relationship between market prices, their current price positions
at the customer and the price targets management wants the sales representative to achieves; and;
> Avoid “leaving money on the table.”
Typically, different functions – each with their own buying criteria – have input into a purchasing decision. It is important, therefore, that a sales representative understand the buying criteria of each decision maker or influencer in order to tailor the extent a sales message emphasizes product performance and economics, warranty, parts availability, service, etc.
Finally, price acceptance is highly dependent upon how effectively a sales representative structures and communicates the deal. How a price is structured is as important as the price tag. Such off-invoice items as volume discounts, year-end rebates, payment terms, discounts and freight can influence the customer’s price perceptions.
(1) Results are based on TopMark’s analytical sampling of manufacturing-dominated, publicly-traded companies.
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Five Ways to Motivate Your Sales ForceFINSTaking on the role of sales manager should be a natural progression, right? In addition to knowing how to sell, the best sales managers also know how to coach their teams, improve efficiency and build morale. That's a different skill set than working ... |
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Bacterin promotes Nick Navarro to national sales managerProactive Investors UKBefore his promotion, Navarro served various roles at Bacterin starting as a direct representative, then advanced to regional sales manager where he relocated to headquarters to serve as vice president of devices. During his career, he has worked for ...and more » |
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SALES MANAGER-LUXURY TRAVEL COMPANYTravel Weekly UKThis is an exciting opportunity for an experienced Sales Manager to join a luxury travel company in the Oxfordshire area. Due to expansion we are looking for a Sales Manager who will be responsible for delivering excellent sales and service results ...and more » |
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