Wallace Management Group
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1 Wallace Management Grup Infrmatin Driving Sales Sales and Marketing Prcesses Sales, marketing and C-level executives ften inherit rganizatins that were in place befre they arrived n the scene. As yung cmpanies grw, sales and marketing teams create supprt systems t address immediate needs. With grwth, markets change; new custmers present new requirements; different sales reps have different ideas. Over time, the systems and prcesses that were develped and implemented t meet the demands f grwth begin t hinder grwth. Only the mst successful businesses, hwever, cnsciusly inspect and review their rganizatins and systems t ensure the right prcesses are in place. T maintain fastpaced grwth, yur systems and prcesses must wrk tgether t supprt yur sales effrts and mve custmers quickly t clse f sales. This dcument presents a set f questins every sales and marketing rganizatin shuld be able t address if they are prperly psitined t explit their market. When answering these questins, senir executives will recgnize a radmap fr building their rganizatin. Nt all questins are applicable t all cmpanies. But, all questins shuld be reviewed t help identify cnflicts, shrt-cmings and pathways fr grwth. T discuss in greater detail hw t imprve yur sales and marketing rganizatins, please cntact Wallace Management Grup at dwallace@wallacemanagement.cm r (203) We will be glad t spend the time yu need t grw yur business. Wallace Management Grup (203)
2 (203) Wallace Management Grup Sales and Marketing Prcesses Sales Lead Management Hw will I pass leads generated by marketing effrts t my sales executives? Hw will I ensure that leads are fllwed up n by my sales executives? Hw will I differentiate between cld, warm and ht leads? Sales Frce Creatin Hw many sales executives d I need t cver the market pprtunity? What is the cmplexity f my sales prcess? Strategy Target cmpanies/industries Target executives (C-level, prcurement, IT, line f business, etc.) What skills d I need in my sales frce? Hw d I train my sales frce? Sales prcesses Slutin selling Prduct features and benefits Market demgraphics/market needs Cmpetitive psitining Cmpany histry and culture What shuld my sales frce mix be? Field sales executives Direct Channel partner Telemarketing sales representatives Rles/respnsibilities f field and telemarketing sales Hw many sales executives can I affrd tday? What is my plan t expand my sales frce? What supprt team des my sales frce require? Technical supprt (systems engineers, etc.) Administrative supprt Special bid pricing Lgistics Cntracts Prpsal develpment Marketing supprt What is the cst f training new and existing sales executives? Laner/Dem prducts Legal review Sales Frce Management Hw will I pay my sales executives? Des my cmmissin plan drive achievement f my market gals and strategies? Hw will I define territries (Gegraphy? Industry? Relatinships? Others?)? Will I differentiate between new business territries and accunt management territries? Hw will I manage territry cnflicts and disputes? Hw will I measure territry success beynd revenue and quta attainment? 08/2009 Page 1
3 (203) Wallace Management Grup Inside Sales D I need an inside sales team? D I need an utside sales team? Will an inside sales team cver the target market mre effectively than an utside sales team? Hw shuld market respnsibilities be divided between inside sales and utside sales? Relatinship management Prspecting vs accunt management Small accunts vs large accunts Active accunts vs drmant accunts Small transactins vs large transactins When shuld an pprtunity be turned ver? Cmmissin splits Hw shuld respnsibilities be divided between inside sales and custmer service? What tls des my inside sales team need? Cmputer, phne, desk CRM r cntact management system Call lists Prspecting Active accunts Drmant accunts Lst accunts Opprtunity tracking Call recrding Call management systems Sales cllateral Letter/prpsal templates Call scripts Hw shuld I measure perfrmance f inside sales members? Sales Opprtunities identified Leads Calls/cntacts Dials Ability t wrk with utside sales Channel Management Hw d I use channel distributin t leverage my marketing and sales effrts? Hw d I minimize channel cnflict and discrd? What prgrams shuld I use t mtivate my channel partners? Jint marketing Sales incentive payments (spiffs) Market develpment funds (MDF) Sales vlume discunts Elite partner prgrams Custmer Management Can my business meet my custmers needs and expectatins? Can I track and anticipate my custmers needs? Hw well d I knw my custmers? D I knw which f my custmers are mst prfitable? And, which nes are unprfitable? Is my CRM system making my team mre prductive? Or creating a bureaucracy? Hw am I measuring custmer satisfactin? 08/2009 Page 1
4 (203) Wallace Management Grup Back-rm Prcesses Can I manage my sales backlg? Are my current prcesses rbust enugh t handle additinal sales vlumes? Can I prcess each and every sale quickly and accurately? Can I deliver superir service levels t all my custmers? Can I meet my cmmitments t bth my custmers and my cmpany? Sales Tls Hw effective are my sales tls? What is the cst f my sales tls? What is the return n investment f my sales tls? Which sales tls d I currently use? Sample kits Prduct brchures Cmpany brchures Presentatins Rad shws (events) Webinars News clippings Dem prgrams Leasing/financing Cntracts Cntact/territry management systems 08/2009 Page 2
5 (203) Wallace Management Grup Marketing General D I have a marketing plan? What is my marketing budget? What results d I receive fr my marketing dllars (ROI)? What is in my marketing mix? Crprate image Branding Cmmunicatins Advertising Public relatins Direct mail Telemarketing Events Web site Crprate Marketing What image des my cmpany prject t custmers and prspects? What image des my cmpany prject t the general public? What image d I want my cmpany t prject t the utside wrld? Brand Management What need des this brand/prduct fill? Wh is the target market fr this prduct? What message am I trying t cmmunicate thrugh my brand? What is the image f my brand? Is the brand image cnsistent with ur crprate image? D I want it t be? Hw can I leverage this brand t meet ther needs? What is the value f this brand? What are the brand guidelines fr lg, message, psitining, etc.? Hw is this brand differentiated frm cmpetitive brands? What marketing and sales cllateral d we prduce? Hw is it used? What des it cst t create and prduce? Hw much is sitting in inventry? Why? Cmmunicatins What messages d we want t cmmunicate? With whm d we want t cmmunicate? Sales frce? Channel partners? Custmers? With what frequency d we want t cmmunicate? Hw d we want t cmmunicate? Direct mail Hw will we build ur database f target audiences? Hw d we maintain the database f ur target audiences? What infrmatin d we want t maintain? Name Mailing address address D we maintain pt-in r pt-ut lists? Investrs r investment cmmunity? Telephne Phne Preferences 08/2009 Page 3
6 (203) Wallace Management Grup Public Relatins What is my PR plan? Which media reach my target market? Wh are the writers and influencers within my target media? Shuld I hire/retain PR prfessinals? Hw effective are my PR effrts? Hw many press mentins have I received? In what media were they? Hw many press mentins have my cmpetitrs received? In what media were they? Hw d I hire a PR agency? Advertising What is my media plan? Which media reach my target market? Shuld I hire/retain an advertising agency? What are the gals f my advertising? What messages am I delivering with my advertising? Is my advertising cnsistent with my ther marketing plans (branding, PR, cmmunicatins, events)? Des my advertising supprt my sales effrts? Direct Marketing What is my direct marketing plan? What is the list surce? What is the respnse rate? By list By mail piece By message By prmtin Hw d we maintain ur wn lists? Hw clean are ur lists? What is the cst f list? What is the cst f prducing mail piece? What is the ttal cst f mailing (per piece)? What is the ttal return n mailing? What is the ttal return by: List Mail piece Message Prmtin Hw d we measure mailing effectiveness? Cst Sales Referrals/leads 08/2009 Page 4
7 (203) Wallace Management Grup Telemarketing What is my telemarketing plan? What is the list surce? What is the cnnect rate (cntact made)? By list By CSR By message By prmtin What is the respnse rate? By list By mail piece By message By prmtin Per cntact made Hw d we maintain ur wn lists? What is the cst per list? Per cntact? What is the cst per campaign? What is the ttal return n campaign? What is the ttal return by: List CSR Message Prmtin Hw d we measure campaign effectiveness? Cst Sales Referrals/leads Event Marketing What is my event marketing plan? Cmpany spnsred Purpse f event Cst t prduce Cst t generate demand (attendees) Ttal cst Revenue generated Business partners participatin Target audience Hw is the audience generated? What is the attendee fallut rate? Hw d we manage event lgistics? Venue Audi-visual Equipment transprtatin Business services Hspitality In-surce vs. ut-surce 08/2009 Page 5
8 (203) Wallace Management Grup Third Party Attendee What is the purpse fr attending? What is the cst f attending? Cnference fee Travel, htel, meals Time What value is realized by attending? Speaker/presenter Hw des the presentatin enhance cmpany/brand s image? Hw many attendees will hear presentatin? Keynte Main tent Break-ut sessin What is the cst assciated with making the presentatin? Travel, htel, meals Time Exhibitr Des the exhibit bth best represent the cmpany s image? Des the exhibit bth best present the brand image? Is the bth attractive and in gd repair? What is the cst f exhibit space? What is the cst f transprtatin, set-up, etc.? What is the cst t ppulate the bth? Hw many visitrs will attend the shw? What is the lcatin f ur bth (traffic patterns, etc)? Hw many visitrs will visit ur bth? Hw will we encurage traffic at the bth? What is the ttal shw cst t the cmpany? Hw will we define success? Qualified leads Sales Visitrs Card swipes Cmpetitin What events d ur cmpetitrs hst? Which events d ur cmpetitrs attend? As a speaker/presenter? As an exhibitr? What cmpetitive intelligence d we gather frm events? What cmpetitive intelligence d we prvide at events? Web site Wh maintains the cmpany s Web site? Wh maintains the brands Web sites? Are the Web sites and pages cnsistent with the crprate imaging and branding? Is the Web cntent current? Wh des the Web site service? Emplyees/internal staff Investrs Custmers Other Vendrs 08/2009 Page 6
9 (203) Wallace Management Grup Internatinal Marketing What is ur internatinal marketing plan? Are ur internatinal marketing effrts sensitive t lcal custms, markets, languages, cultures? D we emply lcal agencies r emplyees t implement internatinal marketing effrts? Des ur cntact infrmatin and hurs take int accunt lcal languages, time znes? Custmer Service What is ur custmer service plan? Can ur prduct affrd t prvide custmer service? Hw d we want t deliver custmer service/supprt? Phne Self-service web Online chat Snail mail Face-t-face Hw d we train ur custmer service representatives? Cnsistency Level f service Prduct knwledge Cmpany knwledge Crss-selling Fllw-n selling What is ur custmer service respnse time? Hw effective is ur custmer service? Hw satisfied are ur custmers with the custmer service they receive? Hw des ur custmer service cmpare with that f ur cmpetitrs? Cmpetitin Wh are ur established cmpetitrs? By brand By target market Wh are the up and cming cmpetitrs? By brand By target market Hw d we differentiate ur cmpany and brands frm ur cmpetitrs? Features Price Availability Service Other What are ur strengths relative t ur cmpetitrs? What are ur weaknesses relative t ur cmpetitrs? What are ur cmpetitr s plans? 08/2009 Page 7
10 (203) Wallace Management Grup Target Markets Wh is ur target market? Demgraphics Industry Gegraphy Interests Skills/expertise Hw d we reach ur target market? Hw large is ur target market? What is ur target market penetratin? What is ur cmpetitin s target market penetratin? 08/2009 Page 8
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