Selling Today 10th Edition CHAPTER Manning and Reece 16 Opportunity Management: The Key to Greater Sales Productivity

Learning Objectives Discuss the four dimensions of opportunity management List and describe time management strategies Explain factors that contribute to improved territory management Identify and discuss common elements of a records management system Discuss stress management practices

Increasing Sales Volume “A salesperson can increase sales volume in two major ways. One is to improve selling effectiveness, and the other is to spend more time in face-to-face selling situations.”

Opportunity Management A four-dimensional process involving: Time management Territory management Records management Stress management

Time Management Time-consuming activities Time management On average, 60 percent of time spent on administrative duties and travel Log keeping shows where time is spent, identifies “time wasters” Time management Sound time management can lead to increased sales

Discussion Questions What are the biggest time wasters in your life? Rank them in order from largest to smallest. What are strategies you can employ now to make better use of your time?

Time Management Methods Develop personal goals Prepare daily “to do” lists Maintain planning calendar Organize selling tools

Goal-Setting Principles Reflect on areas where change is desired Develop written plan—with steps Modify your environment Monitor behavior/reward progress

The To-Do List FIGURE 16.1

Saving Time with Technology Conference calls Meetings in cyberspace (Web conference) Some customers prefer telephone/e-mail contact Cell phones/pagers as timesaving tools Electronic file transfers

Territory Management Step 1: Classify Customers Classify according to potential sales volume Track current dollar amount and potential dollars Realize a small amount of customers may provide a majority of sales volume

Territory Management Step 2: Develop Route/Schedule Plan Map territory/use smaller zones if large Develop routing plan for a specific time frame Schedule around customer needs Establish tentative calls Use 80/20 rule

80/20 Rule 80 percent of time spent calling on most productive customers 20 percent on prospects and smaller accounts

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Sales Call Plans Action plan initiated by sales manager Ensures efficient and effective account coverage Plan discussed with sales staff

Sales Call Plan FIGURE 16.3

Records Management Some complain about “paperwork” time Accurate and timely records are important Facilitates closing sales and improves customer service

Common Record Types Customer and prospect files Call reports Expense records Sales records

Application: Computers Most firms provide sales staff with portable computing power and sales management software If necessary, use a database or spreadsheet program and create your own PCs and PDAs allow you to increase selling time and enhance customer service

Stress Refers to two simultaneous events: An external stimulus (a stressor) The physical and emotional responses to that stimulus: Anxiety, fear, muscle tension, surging heart rate Too much stress unhealthy if unchecked!

More on stress management by: mindtools.com Develop stress-free work environment Maintain optimistic outlook Practice healthy emotional expression Maintain healthy lifestyle More on stress management by: mindtools.com

Four Stress Moderators Autonomy Connectedness Perspective Tone See Selling in Action

Discussion Question List several things in your life that are causing you stress. What can you do to reduce the stress caused by each of those things?