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MANAGEMENT


were assigned to key and target ac- counts, and their compensation now reflects the company’s performance with these accounts. Just two custom- er service employees are dedicated to the 3,800 why-bother accounts, while two others were assigned to telesales.


RESULTS The reform is ongoing, but early results are favorable. Service levels to key accounts have increased sig- nificantly. Error rates on key account orders have been reduced to virtually zero due to increased attention and priority in shipping. Revenue from key accounts has increased as they consolidate purchases with their best suppliers. Significant inroads have been made into target accounts that had previously been neglected. Maintenance accounts do not get the attention of key or target ac- counts, but they are still receiving more proactive contacts than they did under the old system.


At the other end of the scale, the number of low- or no-profit why- bother accounts has declined by half – from 3,800 to about 1,900. The ac- counts that stayed on board show an average gross profit per order of $40 – up from $8 before the change – and have virtually no back orders. The cost and time saved on these accounts has essentially funded the more intense efforts on key and target accounts. Total orders for all segments have decreased by 25 percent, due partly to enforcing order minimums for maintenance and low-profit accounts. Finally, the firm is in a much better position to grow its business in the future. Top management understands its key accounts more thoroughly be- cause the sales force is profiling these accounts, planning for their develop- ment, and reporting on activities by individual account. Finally, sales man- agement can now manage activities because it has account plans submit- ted by reps – not just sales results. 


ULTIMATE SALES TRAINING LIBRARY 20 | OCTOBER 2016 SELLING POWER © 2016 SELLING POWER. CALL 1-800-752-7355 FOR REPRINT PERMISSION. SELLING TIP A Checklist for Mastering the Basics of Closing


Closing is simple – if you remember six fundamentals. Fill out the follow- ing checklist after your next sales call. Whether or not you made the sale, you’ll see where you can improve your technique and your closing rate. • Did you clearly describe all the benefits your product or service offers – what it will do for the client?


• Did you ask the client to buy? Did you come right out and ask for the order?


• Did you discover the key issue influencing your client’s buying decision? (Examples: you’re too new; you’re too much like XYZ Company, which burned the client last time; your company lacks name recognition.)


• Did you uncover the key benefit – either perceived or real – that your client wants from your product or service?


• Did you make lots of little closes so the client had an opportunity to make small decisions rather than one big threatening one?


• Did you try one more time – when you thought the sale was lost? Use this checklist after every sale for two weeks and you’ll be a master closer. The fundamentals will become second nature and you’ll be first rate.


– SELLING POWER EDITORS


SELLING TIP Silence Can Be an Effective Selling Strategy


Some salespeople fear silence. They follow the old adage, “Silence is deadly,” by filling gaps in conversation with words – sometimes whatever pops into their heads, sometimes a rehearsed script. Such salespeople may feel that silence conveys a lack of preparation, knowledge of the product, or belief in the product. However, in many selling situations silence can enhance your selling strategy. Here are four ways to use silence: 1. After you’ve asked a question, give the customer a chance to answer.


2. When a customer says something outrageous, give him or her time to reconsider what was said.


3. When you need a minute to think, simply pause. This pause will show your customer that you are thinking hard to come up with the best solution.


4. As a closing strategy for getting the order, follow this sales nego- tiation adage: “The first person to speak, after the closing ques- tion has been asked, loses.”


By viewing silence as an opportunity to enhance the sale, salespeo- ple can see true selling wisdom in the adage, “Silence is golden.” – SELLING POWER EDITORS


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