Sales & Marketing Management - November/December 2008 - (Page 13) SMART MANAGEMENT BY MARY DONATO Maximize your sales coverage Are you really leveraging all possible channels? G rowing your existing client base and gaining new accounts is the most basic element of a sales coverage model. Implementing this can take a variety of forms and continually challenges even the most astute companies. Why? Because customer needs continue to change, technology advances add new dimensions to being “virtual,” the competition changes and new products give you exposure to new markets. If you are reevaluating your sales coverage model, don’t feel like you’re alone. Thousands of firms are doing the exact same thing … including, perhaps, your competition. Here are a few key questions to answer: Have you leveraged alternate channels of distribution? Do you have products that can be enhanced with value added software? Are there partners that can reach a vertical market you don’t have awareness with? A VAR, reseller, broker or agent is another option to be considered. This step can add another whole layer of complexity, but may be worth the effort. Would having dedicated new business reps, or “hunters,” make a difference in adding new names to your list of clients? Most reps who have an existing base of accounts gravitate to their best customers, MARY DONATO IS PRESIDENT OF APPLIED PRINCIPLES AND ASSOCIATE DIRECTOR OF THE INSTITUTE FOR THE STUDY OF BUSINESS MARKETS. SHE CAN BE REACHED AT MARY@MARYPDONATO.COM. Are you selling the right products to the right markets? You can have the best sales channel in the world, but if you are selling the wrong products in the wrong markets, your sales coverage model just won’t matter. What’s your market share within each key vertical segment? What is your penetration rate with your top tier of clients, and is there room for growth? Are you trying to sell new products to new markets? How do your customers want to do business? In a recent client study, we found that their small business customers preferred buying a simple product over the phone versus having a face-to-face rep visit. They had tight schedules and perceived a sales visit as taking up more time then needed. We also found that the larger the client became, the more they preferred having multiple channel options. They wanted both the ability to see someone face to face who had more experience with the company’s solutions, as well as having an inside salesperson who was available by phone. In addition, these same customers liked having the option of going online to place repeat orders and to research products. This required a multi-channel approach. What situations require face-to-face coverage, and where can you leverage “virtual” sales calls? A rather than going after the harder accounts that may have competitive offerings. If you find this to be the case in your company, you may want to consider creating new business reps. Once the account is on board, an account manager who loves nurturing and growing clients (a “farmer”) can take over. Is your marketing plan integrated with your sales coverage approach? Don’t just assume your new sales coverage model will fix all your market coverage problems. You need to create awareness and help the sales organization by identifying qualified leads. Work with the marketing department to ensure the marketing plan takes advantage of the coverage model you’ve put in place. Will the culture within your company allow the new coverage model to work? Understand the cultural bar- skilled face-to-face sales force is one of your most expensive—yet valuable—selling resources. Leverage them wisely. Have them focused on selling “solutions,” “enterprising” sales and building “c-level” relationships. Move the less-complex, transactional-yet-profitable products to an insides sales team that works in conjunction with the field organization. www.salesandmarketingmanagement.com riers that you will face with any of the changes you make. Consider what new training and tools need to be available. IF YOU HAVE SUGGESTIONS ON HOW TO BECOME A MORE EFFECTIVE SALES OR MARKETING MANAGER, LOG ONTO www.smmsoundoff.com YOUR IDEAS AND EXPERIENCES. NOVEMBER/DECEMBER 2008 TO SHARE SALES &MARKETING MANAGEMENT 13 http://www.smmsoundoff.com http://www.salesandmarketingmanagement.com
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