Sales Management Plan Mufeed Ali Passenger Transport Submitted By: Azeem Zaheer Nazia Abdul Aziz – Reg: 145817 Mashall Wasim Jacob – Reg: 145815 1-COMPANY INTRODUCTION Brief Overview: Our company named, “Mufeed Ali Passenger Transport By Rented Buses LLC” is offering Transportation services all over UAE. It’s a transport company which offer all types of passenger vehicles with varying capacity like 15, 30, 34, 46, 65 & 84 to different companies such as Transguard group, 24 hours passenger transport, Geo Star passenger transport, Limousine passenger company, different construction companies like White House contracting llc, Isam Kabbani partners LLC, they hire heavy vehicles from us on daily, weekly or even monthly rent system. 2- MARKET RESEARCH & INDUSTRY ANALYSIS Transportation and shipping industry include the Automotive, Aviation, Aerospace, Logistics, Maritime, Mass transit, Freight, Shipping and Logistics, Mass transit, Rail transport and Road Transport. This section contains reports that comprise of data on market segmentation, size and growth in US, UK, Europe, Asia and global markets. Intelligent, smart grid connecting transport systems that reduce energy consumption by aircraft, by rail, mass transit and automobiles are a growing sector of the industry. A fuel type used by large commercial and military transport is another growing sector. Day by day there are advancements in technology for example high speed rail systems and high-speed aircrafts are being built in several countries. Electric cars are hitting the highways in steady increasing numbers. The automotive industry is one of the largest industrial sectors by revenue with activities encompass the engineering, design, technological development, manufacturing, distribution, marketing, sales and maintenance of automobiles or motor vehicles. Automobiles or cars can be categorized by fuel including gasoline, diesel, electric, and various hybrid or alternative fuel cars such as ethanol and combined electrical motor-heat engine drives. Railroads or railways are a means of transporting freight (goods) and passengers (persons) on vehicles guided by tracks. Modern railroads are long stretches of metal rails with traffic management systems for rail vehicles that include locomotives, train cars (including self-propelled units known commonly as electric multiple units [EMU]) that constitute freight trains and passenger trains, and other vehicles responsible for the maintenance and service of railways they transverse. Railroads have expanded in application for shortdistance industrial conduits and long-distance freight and passenger transport through steam power. Through electrified subways and metropolitan rail trains, railroads are responsible for mass transit. Shipping and Logistics is the management of the flow of goods from their point of origin to their point of distribution and / or consumption involving the integration of transportation, warehousing, inventory, information, packaging and material handling (and often security). Shipping and Logistics is part of the supply chain, adding the value of time and place utility. Maritime markets concern oceanic and sea vessels, their manufacturing and associated services such as maritime shipping, transportation, and recreation (tourism). The maritime market is centred around ship (vessel) transport overseas and along coastlines. Maritime industry activities include ship-building, shipping line operations and management, shipyard services, maritime cargo services, marine repairs and freight forwarding services. Maritime shipping and traffic connect essentially all non-landlocked markets or the vast majority of the world where there are only 47 landlocked countries in the world. Maritime fleets include freighters, bulk carriers, container ships, tankers and other large vessels are constructed and decommissioned. Over 4,000 bulk tankers are currently in service worldwide. Other maritime fleets include barges, reefer ships (refrigerated), coasters (regional trade), ferries (regional transport), cruise ships, and telecommunications and oil & gas industry ships. Both the aviation and aerospace industries concern products and services related to aircraft. The aviation industry is responsible for the operation, flight and flight management of passenger, commercial and military and government aircraft. Aerospace manufacturing creates many high technology products, including, aircraft, aircraft engines, guided missiles, propulsion units, and space vehicles. 3- SALES PLAN: Our sales plan is to rent out all the vehicles that are available with us at the moment, so no vehicle should be unoccupied at any time. At the moment we have 5 types of vehicles (detail of them, brand name , capacities 15, 30, 34, 46, 60, 65 & 84) and 195 drivers who are highly skilled, those are very proficient at their jobs. 3.1 Sales Objectives As a transportation company our objectives are to increase the efficiency of our work so we can delight our customers by working beyond their expectations. to occupy all the vehicles most of the time. 3.2 Development of sales team A company's sales team is in constant contact with its target audience in order to build a rapport with leads, in the hope to convert them into customers. However, the sales team is responsible for carrying the prospect through the sales pipeline and closing the deal. Since we aren’t working on larger scale, our sales team comprises of 3 members. They basically collect the info about potential accounts, set meetings with them, and after completing steps of sales pipeline (A sales pipeline is a specific sequence of actions that a sales rep needs to take in order to move a prospect from a new lead to an account. Once each stage is completed, the prospect is advanced to the next stage). They send the quotations. 3.3 Sales targets for 2019-2020 This year we are planning to get 15….. more vehicles as market is going well, we can see the growth in our industry. So, the first target to get them occupied by high end accounts, we already have prospected & existing customers, they want to rent out our new vehicles. Secondly want to expand our business by opening a new office in Abu Dhabi where we have a contract with a company. we are planning to launch virtual office as well, in order to approach the maximum number of accounts and prospects. 3.4 Sales team quotas for 2k19-2k20 Since we have 3 persons of team, so workload is divided among them fairly. 3.5 Sales forecasting and strategies 15 more vehicles will be needed to meet the demand of the existing customer & prospectus. As it concerns with the strategies, we try our optimum best to remain in touch with our accounts & prospects, getting feedback on regular base & adjust ourselves according to the requirement of the industry, market & customers as well. We believe in long term friendly relationship & that’s why sometimes we have to go out of the way to serve our accounts. Trying to create future leads from the friends & families of existing accounts. We know our specific targets & always aim higher. As John Doerr, president at RAIN Group writes” Salespeople who live by goals- Know where they’re headed” We are using few strategies to achieve our objectives & maximize our profits. Analyzing our past sales, evaluating what are our strengths now & what were in past, is there any positive or negative change. Keep researching &, understanding market & our customers. Being patient & flexible in all stages. 4. RECOMMENDATIONS 4.1 Product/Service Name: Transportation of Labours, Staff & Companies employees 4.2 Brief Overview: Our company named, “Mufeed Ali Passenger Transport By Rented Buses LLC” is offering Transportation services all over UAE 4.3 Unique Selling Propositions: The Vehicles are given to different companies on rental basis where rental charges are variable as dependable on distance and capacity of the vehicle. 4.4 Slogan OR Tagline: Our company has the tagline of “Your need meets with us” 5. MARKET SEGMENT Our company has a wide scope of market segment as we are focusing on all the emirates of UAE. All types of industries, companies are in our focus who need transport facilities. 6. STEPS OF COLD CALLING PROCESS & PERSONAL SELLING For a salesperson, Cold calling potential customers can present one of the greatest challenges in their day. Get the most out of your cold calls by following these nine steps. And remember that staying positive, being persistent and listening and adjusting to customer responses are the personal ingredients to help you succeed. 6.1 Steps to effective cold calling: Put together a list of potential customers to call The list can be purchased from a third-party list provider and may contain all or just some of the details you want in order to conduct your call. Evaluate the list and target the “low-hanging fruit.” How do you recognize a company as “low-hanging fruit”? The starting point is your definition of a target customer. If you have a list of potential customers to call, prioritize the list based on how well they fit this definition. By using this rating system, you increase your chances of success dramatically—and it spares you the time of calling on customers who are a bad fit. Know the name of the individual to call Most decision-makers, especially those in large corporations, have multiple gatekeepers whose job it is to protect their boss’ time. They will employ various ways of filtering out low-priority calls, so you need to know how to get past the gatekeepers. It can make a major difference whether you ask “to talk to the Chief Financial Officer” or whether you ask “to speak with Adam Smith.” In many cases, a quick search on the Internet will help you find the name of the person you need. Start the sales process with the CFO. Even if you know that the CFO might not be the person who would make the buying decision, and that the buyer would be someone who reports to him or her, starting with the CFO is still the better way to begin the sales process. In doing so, you will either get a referral from the CFO directly to the appropriate person, or one of the CFO’s gatekeepers will guide you in the right direction. Know your elevator pitch cold Make sure you have your elevator pitch ready before you call and a clear understanding of why you are calling. Before launching into your pitch, ensure that you are speaking to the right person and that they have a couple of minutes to spend with you. If they do not, be understanding, and ask them when a better time would be. If this person is not the correct contact for you, see if they can recommend which colleague you should speak with. Know your objective and what you need to say to get there If you are calling to book a meeting, make that clear to the buyer. You also need to ensure that you offer the target buyer a good reason for spending some of their valuable time with you. (What’s in it for them?) Move as quickly as possible to define the customer problem you can address. This will earn you the right to ask for a meeting. Be prepared to face both resistance and rejection—this is part of the process and should not be taken personally. Have a sales script for the call When launching into your pitch, it helps to have a script listing your talking points as well as a few questions designed to engage the customer in a two-way conversation. While it is advisable to practice your pitch, keep in mind that you do not want to sound too scripted. Having questions related to the customer will allow the conversation to flow more naturally. Be ready to leave complete contact details If you reach your customer’s voicemail, provide some brief and relevant information, remembering to include your phone number. Avoid leaving a long, scripted message on someone’s voicemail. Set aside time on a regular basis to conduct cold calls, and stick to it Find uninterrupted time to make the calls so you can build up momentum and get into the spirit of talking to customers. As you do your call, remember how much you care about your business and how passionate you are about your product. That will both energize you and help you approach each call with a positive attitude, something the customer will notice. 6.2 Steps of Personal Selling Process Personal selling is the most expensive form of advertising and to be effective one should use a step by step process to gain the most benefit. Personal selling can adjust the manner in which facts are communicated and can consider factors such as culture and behavior in the approach. They can ask questions to discover the specific need of the customer and can get feedback and adjust the presentation as it progresses. The Personal Selling Process The personal selling process is a consecutive series of activities conducted by the salesperson, the lead to a prospect taking the desired action of buying a product or service and finish with a follow-up contact to ensure purchase satisfaction. Step One Prospecting - the first step in the personal selling process The process of looking for and checking leads is called prospecting or determining which firms or individuals could become customers. Up to 20% of a firm's customer base can be lost for reasons such as transfer, death, retirement, takeovers, dissatisfaction with the company and competition. A steadily growing list of qualified prospects is important for reaching the sales targets. Qualifying a prospect: A lead is a name on a list. It only becomes a prospect if it is determined that the person or company can benefit from the service or product offered. A qualified prospect has a need, can benefit from the product and has the authority to make the decision. Step Two The Pre-approach This stage involves the collecting of as much relevant information as possible prior to the sales presentation. The pre-approach investigation is carried out on new customers but also on regular customers. Systematic collection of information requires a decision about applicability, usefulness and how to organize the information for easy access and effective use. Step Three The Approach The salesperson should always focus on the benefits for the customer. This is done by using the product's features and advantages. This is known as the FAB technique (Features, Advantages and Benefits). * Features: Refers to the physical characteristics such as size, taste etc. * Advantages: Refers to the performance provided by the physical characteristics eg it does not stain. * Benefits: Refers to the benefits for the prospect. Eg. Saves you 20% on replacement cost. Step Four The Sales Presentation After the prospects interest has been grasped, the sales presentation is delivered. This involves a "persuasive vocal and visual explanation of a business proposition". It should be done in a relaxed atmosphere to encourage the prospect to share information in order to establish requirements. Some small talk may be necessary to reduce tension but the purpose always remains business. Step Five The Trial Close The trial close is a part of the presentation and is an important step in the selling process. Known as a temperature question - technique to establish the attitude of the prospect towards the presentation and the product. Step Six Handling Objections Objections are often indications of interest by the prospect and should not be viewed with misgiving by salespeople. The prospect is in fact requesting additional information to help him to justify a decision to buy. The prospect may not be fully convinced and the issues raised are thus very important. It also assists the salesperson to establish exactly what is on the prospect's mind. Step Seven Closing the Sale This is the last part of the presentation. Many salespeople fear the closing of a sale. Closing a sale is only the confirmation of an understanding. Fear will disappear if the salesperson truly believes that the prospect will enjoy benefits after the purchase of the product. Step Eight The Follow-up The sale does not complete the selling process. Follow-up activities are very important and are useful for the establishment of long-term business relationships. It is important to check if the products have been received in good condition, to establish the customer is satisfied etc. 7. PRICING & DISCOUNTS As of now the company has a fleet of vehicle, with seating capacity of 15, 30, 34, 46, 65 & 84 passengers. The pricing and discounts for the transportation rental service is: Vehicle Capacity 15 Seater 30 Seater 34 Seater 46 Seater 65 Seater 84 Seater Rent per day AED 125 AED 200 AED 250 AED 350 AED 450 AED 600 Discount 5% 5% 5% 5% 5% 5% Terms & Condition Vehicle Capacity 15 Seater 30 Seater 34 Seater 46 Seater 65 Seater 84 Seater Rent per week AED 600 AED 1,000 AED 1,200 AED 1,700 AED 3,000 AED 4,000 Discount 5% 5% 5% 5% 5% 5% Terms & Condition Vehicle Capacity 15 Seater 30 Seater 34 Seater 46 Seater 65 Seater 84 Seater Rent per month AED 2,000 AED 4,000 AED 4,400 AED 6,000 AED 8,500 AED 11,000 Discount 10% 10% 10% 10% 10% 10% Terms & Condition Discount is applicable only when the company continues to rent for at least 3 months Discount is applicable only when the company continues to rent for at least 3 months Discount is applicable only when the company continues to rent for at least 6 months 8. CUSTOMER RELATION MANAGEMENT PRACTICES Customer relationship management (CRM) follows the entire interaction with a business. The main arms of CRM include marketing, sales, support and feedback. No matter how large or small a business may be, its clients and customers go through a CRM cycle. If you have a small business, it’s vital to use the right CRM software that allows you to set up effective strategies for employees and the customers with whom they’re interacting. Streamline these processes, and you’ll reap the benefits of a long, happy relationship with your customers. 1. Ensure Online Platforms Are Responsive Your potential customers are looking for you online. From a marketing perspective, it’s worth it to have a responsive website so customers can easily access your information via phone, tablet and desktop computer. To figure out what design works best for your small business, work with a web developer or use a template provider. Hard-to-navigate sites won’t pass muster on mobile devices and will result in customers leaving your site for a different, more user-friendly one. Encourage conversations and sharing by making your website and social media pages places where customers want to engage. 2. Set Up Workflows Even if you only have one or two employees, workflows are essential to nail down processes and make sure the entire customer experience goes smoothly. Training new employees as your business continues to grow is also easier when you have workflows in place.Workflows give employees a definitive answer on what to do next when it comes to sales, support and feedback interactions with customers. They can be as simple as a bulleted list of steps saved as Google Docs, or flow charts that explain the steps in a graphic format. 3. Cross-Train Employees Related to workflows is ensuring employees are cross-trained in multiple areas of the business, especially if there are less than 25 employees. If there’s turnover or long-term sickness, having employees trained in different areas helps ensure others can pick up the slack when needed. From support requests, to sales initiatives and marketing campaigns, cross-training means the customer experience will remain positive no matter who’s handling it. 4. Create Content, and Make Changes from Experiences Handle the marketing part of customer relationship management by making regular changes and additions to your content. Address the new situations your employees come across. For instance, if you get the same question twice, create a new question and answer on your FAQ page, or write a blog post with the question as the title and a detailed explanation as the post. This will not only help future customers find the answer to the same question; it will also create new content for your website, which is always a good thing, as it helps your business get found via search engines. Another aspect of your experience with customers is the opportunity to continuously improve your CRM process. If there is a continuous roadblock, a negative customer reaction or a step your employees don’t understand, use that experience to make a change. 5. Put Milestones in Place Finally, a proper CRM process in the four areas mentioned earlier (i.e. sales, marketing, support and feedback) would be nothing without goals and milestones. Once these are set up, you’ll be able to track your progress, customer satisfaction and continuous improvement. 9. PROMOTIONAL OFFERS FOR EACH QUARTER & THEIR IMPACT Since we have different types of clients in terms of payment system. Some pays on daily basis, some on weekly, and some on monthly. That’s why we do have several promotional plans according to the type of accounts. For weekly customers, if they hire our vehicle for three consecutive weeks, then we give them free for one day. For monthly customers, if they hire for 3 consecutive months then one week free. For daily customers, if they hire for 5 consecutive days then one day fuel is from us. If someone uses our service more than 8 months in one year then one whole week fuel payment is from our side. According to the response of the accounts we slightly modify these offers if adjustment is required. Expected impact is positive, we would see more loyalty from our accounts, they will try to avail these offers, at the end it will increase our profit & brand image as well. Since in market very few companies are offering these kinds of promotion. 10. SALES BUDGET PLAN Monthly Sales Budget Plan Vehicle Capacity 15 Seater 30 Seater 34 Seater 46 Seater 65 Seater 84 Seater No of Units 5 3 2 4 4 2 Price per Unit 2,000 4,000 4,400 6,000 8,500 11,000 Budgeted Sales per month 10,000 12,000 8,800 24,000 34,000 22,000 Total 110,800 Less: Expenses Salesperson Salary (AED 4,500 x 3 Salesperson) 13,500 Commission - 1% (Below AED 50,000) 1,500 Commission - 3% (Above AED 50,000) 5,472 Transportation Allowance for salesperson 1,500 Toll Tax (Salik) 1,200 720 480 960 960 480 4,800 Vehicle Maintenance 10,000 Profit 74,028 Annual Sales Budget Plan Vehicle Capacity 15 Seater 30 Seater 34 Seater 46 Seater 65 Seater 84 Seater No of Units 5 3 2 4 4 2 Additional Units 5 3 2 2 2 1 Price per Unit 2,000 4,000 4,400 6,000 8,500 11,000 Budgeted Sales per year 240,000 288,000 211,200 432,000 612,000 396,000 Total 2,179,200 Less: Expenses Salesperson Salary (AED 54,000 x 3 Salesperson) 162,000 Commission - 1% (Below AED 600,000) 18,000 Commission - 3% (Above AED 600,000) 142,128 Transportation Allowance for salesperson 18,000 Toll Tax (Salik) 28,800 17,280 11,520 17,280 17,280 8,640 100,800 Vehicle Maintenance 210,000 Profit 1,528,272 Notes: - 15 Additional Vehicle Units added in the annual sales budget - Salik (AED 4 for each cross) 11. EVALUATION, MANAGEMENT & MOTIVATION OF SALES PERSONNEL: Sales persons are the driving force behind any company as they represent the company and are also the ones who bring new prospects / business to the company. For an effective sales team, the salespersons needs to be fairly and constantly evaluated, managed and motivated. 12.1 Evaluation of Sales Person: 1. Customer Feedback – Even though numbers demonstrate the success of any sales person, but another right way to do is to get customer feedback. One way we measure the success of our sales teams is by the quality of our customer engagement. We ask each new customer to provide feedback on why they chose us, and as they provide feedback on a great interaction with a member of our sales team, we reward the outstanding service of that sales person. 2. Performance Review – Another way to evaluate salespersons is to get their performance review. The performance needs to evaluate weekly because setting regular performance reviews with sales persons encourage a culture of accountability. 3. Team coordination – It is important to measure the interaction between members of a sales team, but building a team culture within a group of people that are measured individually is a challenging job. The company encourages the sales team to share their successes/strategy with their team members and have them answer questions regarding a recent win, this helps creates a high level of team spirit and healthy competition. 4. Product Knowledge – A successful sales person is the one who knows their product very well, one way to evaluate the capability of sales persons is to test them for their product knowledge. This can be done by making mock calls and getting information over the phone or get the new and existing customers review. 12.2 Sales Team Management: 1. Hiring effective and experienced sales persons – The first step towards an effective sales team management is to hire sales representatives who are experienced in the same field and have a proven track record. This solves the problem of having to train them first before they get on board and is much more beneficial and convenient for the company. 2. Set clear goals & objectives – To to improve customer service or increase sales volume, the goals and objectives needs to be clearly communicated to the sales team. The focus should be on one goal at a time and all sales people should participate in that. A sales plan has to be developed and all team members should be included in that, the sales plan should include the following: Define their own goals Create easy-to-follow plans to ensure progress Improve time management Which activities will close the most leads Which activities will generate the most prospects A great sales management strategy is to create a strategic training plan for the next year and make sure the team sticks to it. 3. Use of technology – Due to the constant improvement in technology, many parts of the sales process are becoming automated, which makes it easier and quicker for sales tasks to be achieved. The company can use cloud – based CRM which can make the communication easier plus keeping a track of calls and clients. This can enable them to multitask and keep record of every communication and use it to schedule appointments and reminders. 4. Get to know the sales team – It is necessary to know the sales team well, apart from just their names and faces the company knows their selling skill set, which includes their selling and learning style, what motivates them and what are their strengths and weaknesses. This also helps them be connected to sales managers and make them more productive. 12.3 Motivation Techniques: 1. Reward the right behavior – Reward the right behavior and results is the driving force for any sales person. This helps them stay motivated and do much better next time. Some kind of rewards can be apart from monetary benefits like taking them out for a trip, lunch / dinner or give them personal and useful gifts. 2. One on one coaching sessions – Regular coaching is integral for the sales team to become more productive, more confident and more skilled at sales. If they are properly coached through a variety of customer interactions, they will be better prepared to handle difficult situations which mean they will be able to close more deals. In addition, one-on-one coaching allows sales persons to feel more confident in their approach to sales since they will have input from expert sales managers. 3. Encourage continuous learning – It is also important to invest in sales team education and help them stay on top of new industry techniques and trends. Companies need to train the sales team regularly to keep the information fresh in their minds. The training should reinforce previously taught lessons, while also adding in new strategies for them to continue building their skillset. 4. Inspire the sales team - Successful Sales Managers understand the importance of inspiring their team. In fact, they use inspiration as one of their top sales team management strategies. Creating an environment in which your team feels inspired will motivate them to excel at work. 5. Trust the sales person – Another significant way employees feel motivated is to fully trust them in what they do and how they can complete the assigned tasks. Sometimes the sales person need to be left on their own to achieve the desired results. 12. SALES REPORTING SYSTEM We offer our vehicles to our clients/companies on rental basis where each contract varies according to terms & conditions mentioned there in. These clients use our vehicle for full month. Invoices are submitted every 30th for which we receive LPOs. Payment process takes place with in next 90 days. Scope of Work: Azeem Introduction Overview Unique Selling Points Slogan and Tagline Product Service Distribution and Sales Reporting System Nazia Abdul Aziz Market Research and Industry Analysis Sales Plan Developing the Sales Team Promotional Offers Mashall Wasim Jacob Pricing & Discounts Sales Budget Plan Organization Evaluation, Sales Management & Motivation Techniques Zaheer Cold calling steps & Personal Selling Customer Relationship Marketing Recommendations