10th Annual Terry Professional Sales Competition
Terry Professional Sales Competition
I. Case Elements
A. Flower Industry:
- Market: People spend $15 Billion annually on flowers
- $36,000 florists/$24,000 supermarkets nationwide
- Competition: FTD.COM (Same-day delivery)/Telafora.com/1-800-flowers.com
- Roses most popular with a variety of color, size, and fragrance
- Whatttttssssp
B. Los Angeles Flower District:
- 200 wholesale flower dealers: Largest flower market in the United States, thousands of orders
- Retailers: annual badges give them earlier hours, special selling days, wholesale pricing, and tax-free reseller status
- Consumers
- Merged the Los Angeles Flower Market/American Florists’ Exchange (LAFM) and the Southern California Flower Growers (SCFG) to form the Southern California Florist and Flower Growers Market (SCFFG)
- SCFG created in 1912 with Japanese-American flower growers and sellers
- 1917 the LAFM was organized by European-Americans
- Racial and ethnic segregation dropped to form the Los Angeles Flower District
- 20-30 Salespeople who represent wholesaler
- Target Market: hotels, restaurants, wedding/event planners, florists, and supermarkets
- Products: cut flowers to potted and blooming plants, decorative vegetables, pottery, dried and silk flowers and floral supplies
- 2 Sales Manager
- Revenue Generation:
- % Of Wholesalers sales: manages the issuance of badges at profit centers
- Rent for terminal-mini warehouse; each wholesaler has one
- Doors that accept flower deliveries and shipping trucks
- Fitted with walk-in coolers and freestanding misters to keep plants healthy
- Computers: pre-loaded Windows PC running Vista that provides internet and phone access/digital cash registers with an accounting system customer database tailored to the “flower business”
- Register-flower business
- Used 2 CRM systems in 1999: GoldMine CRM (FrontRange Solutions, Inc.) and old ACT! CRM (Sage Software, Inc.)
C. Activities:
- Pricing based on:
- Global sales-daily market
- Demand-perishability
D. Challenges:
- Track of orders
- Shipments: Daily, many sent by airfreight, moves $200 million worth of wholesale products/yr.
- Inventories
- Customers
- Mutual sources of items
- Outdated database installations
- Lack of compatibility between two CRM systems
- Sales Management Reports
E. Structure:
- CO-OP entity with a larger board of directors
- WIN Nikomura: Excellent people skills, handles relationships with the member wholesalers UCLA
- VEE Razzola: Analytical with numbers, manages the back office business USC
- Bailey Williams: Contact with routine tasks, bookkeeping task/supplier meetings
- Analysis: Hours of operation
- M-S 2AM-8AM Wholesalers
- M-S 8AM-12N Retailers
- Terminals: 10-15% Of net sales depending on how long the wholesaler has been a customer and how much square footage is associated with the terminal they rent
- Sales productivity
- Sales Plots
- Better Customer Service to justify the terminal rent they are charging in a down economy
- Manage their Business and combine customer bases:
- Growth
Internal Analysis
- Rivalry amongst competitors: differentiation/low-switching costs
- Attractive Industry: High-profit potential
- High Entry Barriers
- Suppliers and Buyers weak power
- Few substitutes
- Moderate Rivalry
External Analysis
- The threat of New Entrants: Barriers to Entry
- Opportunities: growth as a more globally integrated flower shop
- Threats: Integrity and cash
- ECON, SOCIO, DEMO, POL/LEGAL
- TECH-product innovation
- Tangible: Financial physical technological, organizational
- Intangible: Superior knowledge
- Capabilities: Logistics, Customer Service, and Innovation
- Core Competency
- Value, Rare, Cost to imitate, No substitutable
- Support Activities: Infrastructure, HRM, Technological Development, and Procurement
- Primary Act: Services marketing and sales; Outbound logistics, Operations, Inbound logistics
II. NetSuite CRM +
Customer Relationship Management Benefits:
- Sales Force Automation (SFA)-beyond what’s possible; capabilities of order management and back-office integration; sales forecasting, commission management, upsell management and much more
- Marketing Automation-Target, build and execute and eliminate complexity from lead qualification and conversion for more efficient sales execution
- Customer Support and service-Improves online customer service and support, helps reduce attrition and lowers your customer care cost, can easily be accessed anytime
- Flexible Customization
- Well-based CRM Solution: analytics and reporting-powerful dashboards that provide fingertip access into sales, marketing, and customer performance-easily integrate back-office metrics for total business visibility
- Mobile/Wireless-I phone, Blackberry, Windows Mobile: real-time access to the business information they need, when and where they need it
- Partner Relationship Management-Better collaboration with partners to treat your partners as channel partners as an extension of your direct sales force team, joint marketing campaigns, lead management, and order processing
- Only integration system with back office-order management and marketing effectiveness capabilities standard-reduces manual entry and risk of error, and accelerating products; Seamless
- Operates on the same customer and transactional data
- Improves Sales Performance with accurate sales forecasts, automated commission and up-sell management
- Improve collaboration with partners with joint lead and campaign management
- Streamline order management processes across sales and finance
- Improve customer satisfaction with case management and customer history
- Redirect marketing budget to higher ROI campaigns and campaign effectiveness
- Drive sales service with mobile access
III. Presentation Outline
Approach:
Always have a professional introduction by saying good morning Win/Vee. Thank you for meeting with me on this lovely afternoon. How are you doing today? Gain the attention of the prospect by striking conversation. Build rapport with the customer by appealing to their emotions. Ask about wife, kids, or family before the transition. Have a smooth transition into needs identification: Can I ask you some questions first before I go over what Net Suite has to offer to you and your company? Ok…do you mind if I take Notes?
Needs Identification:
Uncovered decision process (decision criteria and people involved in the decision process). Determine facts about company and buyer: What current problems do have with your operating system now?
- What type of inventory does your company have?
- How frequent are your buyers buying?
Uncover Needs with current problems to match goals. Have questions to convert implied needs to explicit needs (what happens to the customer when problems continue. Have a commitment to consider product/service and transition to the presentation
Product/Service PowerPoint Presentation
Demonstrate benefits based on the needs of the buyer. Logical and convincing presentation: strategical communication and persuasion. Concentrate on “Hot Buttons” of buyers. Use appropriate/professional visual aids and be sure to effectively demonstrate the product. By effectively involving buyer in presentation, you will keep their attention. Finally, use effective use of trial closes: follow-up questions
Close (3 minutes)
Close with a persuasive reason to buy. Always make sure to ask for business or commitment from the buyer. Does it make sense for us to think about meeting again to sit down and wrap up the details? Use effective verbal communication skills: active listening: restated, rephrased, clarified, probed for better understanding
Appropriate non-verbal: posture hand gestures: “Please Allow me, No Problem, Can you do me a favor? Stop Right There, Good, That’s the best part of my job, I’m confident, You, Me, Cut out
Verbiage: Clear, concise, and professional
Possible Problems:
- We had a meeting/Who are you? -Yes, actually Bailey and I talked on the phone (gesture)
- How old are you? A: I’m 24 actually. I graduated from the Terry Business School at The University of Georgia with a major in International Business and Marketing. I have been the leading sales associate/leading team for the quarter for NetSuite in the last 3 years.
- Why are you late?
- Ask for a name when you get their business card
- Company name and why you are there
- More control/How much more business you could be doing
- Contact Info Template
- Does this sound like a good use of your time?
OVERALL ENTHUSIASM, CONFIDENCE AND PRODUCT KNOWLEDGE!!!!!
Individual Sales Presentation
Approach: (4 Minutes)
- Good Morning Billy Crisp, Benjamin Kepner, NetSuite Sales Representative. Thank you for meeting with me on this lovely Monday Afternoon. How are you doing today?
- Your receptionist told me this was a good time for us to meet today; do you have enough time today with me to go over some of the advantages NetSuite has to offer to your company? Great…. well before we get started here is my business card for you to stay in contact with us.
- I thought we would start with identifying some of your more specific companies needs first and then I could go over what NetSuite has to offer to you and your company in my PowerPoint presentation I have prepared for us. Does that sound all right to you? And was there anyone else that needed to be here for me to talk more about my presentation with? Oh all right then, Do you mind if I take notes during our meeting?
Need Identification: (5 Minutes)
- First, Tell Me more about the services that Wallabee Hot-Air balloons use to manage their company. Specifically, How does your current operating system handle different sources of manufactures, products, and people you sell to? So you must have some issues with all the multiple sources of market development you use to better develop your customer relationships.
- Ooh ok, so how does your sales team record and manage your contacts, leads, and partners. Do you have individual customer data for all your different clientele?
- All right, so that leads me to my next question. How what is your methodology for sales tracking for such aspects as how frequent your buyers buy hot air balloons or how much do they buy when they do buy?
Product/Service Presentation: (9 Minutes)
- Features/SVC’S of NetSuite:
∆Software-as-a-Service (SaaS) business service that supports your entire company
∆Manages Accounting, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and web Capabilities
∆NetSuite One World handles different currencies, taxation rules, and reporting requirements
- Benefits
- Eliminates Data Re-entry: no re-inputting data into separate systems, because every customer has their own customer data profile that connects every system.
- 2. Deliver better business management: by individual sales tracking, customer surveys, distribution of marketing reports monthly, and sales forecasting projections.
- Eliminate IT maintenance and upgrade costs. NetSuite is cloud-based, business management software with a 99.5% uptime guarantee.
- Make better decisions fast-No need for consultants all the numbers are already presented to you in your personal customer data profile
- Increase collaboration. NetSuite Saabs business software offers portals that allow your customers, partners, and vendors to collaborate with you effectively through e-mail infrastructure and document templates
- Pricing-So this shouldn’t be a concern for you with us.
Close: (2 Minutes)
- Retrieve Quote/Estimate:
- Does it make sense for us to think about meeting again to sit down and wrap up the details?
- Great well can we meet again at this time next week to Create your Sales Order
- Awesome I’ll a provisionary E-mail Sales Order to look over
- Fulfillment of Customer
TERRY PROFESSIONAL SALES COMPETITION