Post Graduate Programme in Management 2021-2023
ASSSM Reflection Paper
By:
Aditya Chowdhury
2021PGP015
1. Key concepts and applications
In this course, we covered a few critical concepts but before going
into all of them, we need to understand what sales is. Sales is one of
the important business heads in any company and refers to the
process of turning potential leads to prospects and eventually to
paying customers that generate revenue for the business.
When we consider the act of selling, it often is an essential ability to
persuade and motivate people to make a purchase decision for a
product or service. This course aims at understanding the traits that
every salesperson should have and nurturing them to understand
customer expectations and aspirations helping them reach their
goals. With the help of roleplays, the course covers the 7-step sales
process including communication, building relationships,
understanding customer needs, and yielding a conversion. We will
understand some of the key concepts and topics discussed in this
course.
1.1.
Sales vs Marketing
Although these two are highly correlated, they are indeed distinct
areas of business. They work together to drive growth for an
organization and spearhead revenue generation. While sales is a
series of repeatable steps to convert prospects into closed
customers, marketing refers to all the activities that focus on
creating value propositions based on research and need fulfilment to
drive sales.
The parameters for measurement of performance of sales and
marketing are also different. While sales use parameters like
salesperson targets, target conversion and so on, marketing mainly
focuses on parameters like bounce rate, click through rate, etc.
While sales is responsible for bringing in the actual revenue of the
organization, marketing is responsible for generating interest and
leads around a particular value proposition.
1.2.
Prospecting
The process of finding new sales opportunities and developing them
is called prospecting. In Advanced Sales and Selling Management,
prospecting is crucial for a conversion. During prospecting, we take
help from multiple tools including market research, network
building, and lead generation, to discover potential customers and
help build engagement with them. To prospect better, we need to
have a very good idea of the customer, their needs, aspirations, and
desires and the market in which they operate in. This helps us build
relationships which are essential to communicate effectively the
value proposition and create long-lasting relationships.
1.3.
Communication
A good sales funnel cannot work without effective communication.
Effective communication entails actively listening to your customers
and understanding their needs and how your value proposition fits
into their needs. By effective communication, one can build trust
with the end customer in question and it is this rapport that helps in
effectively negotiating with them.
ASSSM as a course focuses on adaptation on the salesperson’s end
which allow the salesperson to create a communication style that is
conducive to a positive signalling on the customer’s end.
Additionally, since different customer groups usually have different
preferences, the sales pitch should take these preferences into
consideration for a successful conversion. When we talk of effective
communication, we are also taking the body language of the sales
person and the receptivity of the customer to it into consideration.
Thus, effective communication also includes confidence and positive
reinforcements on the salesperson’s part that attracts the customer
and turns a purchase intention into a decision.
1.4.
Decoding the customer
It is very important for a salesperson to get to know the customer to
tailor a sales pitch that will work in decoding the needs of the
customer. This includes listening to the customer properly, asking
the right kind of clarifying questions, and identifying different pain
points and challenges. By understanding the customer, we are
usually able to address those pain points better by tailoring our value
proposition in accordance to that. We were also introduced to
different techniques for selling like the SPIN method which stands
for Situation, Problem, Implication, and Need-Payoff.
1.5.
Building relationships
ASSSM talks about the importance of relationships when it comes to
selling. Not only do we have to have technical information about the
product but also understand what the customer wants and needs
and discover their values and interests. When it comes to building
relationships, we often take reference from the 7-step selling
process:
a)
b)
c)
d)
e)
f)
g)
Prospecting
Fixing appointment
Qualifying the prospect
Presentation
Addressing objections
Close the deal
Follow up
The final step of the process is critical to building relationships. It
highlights the need for following up with your customer after the
sale has been made. This creates a long-lasting impact that we care
whether the customer’s needs were met satisfactorily or not.
1.6.
Persuasion
ASSSM deals with convincing the customer to decide which is
usually a purchase decision and this act of convincing entails
persuasion. There are emotional and logical appeals to persuasion.
While emotional appeals try to establish a relation with the customer
by engaging his emotional side, logical appeals are based on facts
are figures.
One of the most effective ways of persuasion is storytelling where
the salesperson engages into a mode of narration and draws a
scenario to engage the customers’ imagination. By building this
relationship and cultivating a sense of trust, successful persuasion
and conversion can be achieved.
1.7.
Negotiation
Negotiation deals with BATNA (Better alternative to negotiated
agreement) and ZOPA (Zone of possible agreement) by carefully
negotiating and bargaining on price, features, and other traits of a
service or product.
Negotiation in the modern world leverages information and the
power of it. An effective salesperson knows about his own strengths
and tries to leverage it while augmenting the power of information
to effectively close a deal. It is also the trait of a good salesperson to
identify what the major concerns are of the customer and try to
address it by offering alternatives, adding more value, and being
flexible in their arrangement.
1.8.
SPIN Model
The SPIN model is perhaps one of the most well-known models
when it comes to understanding advanced sales and structuring an
approach that helps create a tailored sales pitch for the target
customer in question. SPIN stands for Situation, Problem,
Implication, and Need-Payoff. We use SPIN to decode the customer’s
pain points, needs, requirements, and aspirations to create a sales
pitch that will help us take the customer from the prospect stage to
a buyer stage.
The first step in SPIN Selling is to understand what the customer’s
current situation is. Current situation usually includes their
aspirations, pain points, and what they are trying to achieve. There
are a few questions which give us insight into this such as “What are
the biggest challenges at your work?” or “Where do you want to see
yourself in the next 1 year?”
The next step in SPIN Selling is to understand the problem. Using the
data gathered from the first step, the salesperson will try to address
the core pain points of the customer and in doing so interpret how
these problems connect to their business landscape. A great way to
do this is to ask “Where does your business stand with respect to the
current competition?” and “What is it that you feel you can do better
in terms of your technology?”
Once the problem is addressed, then it is off to the implication stage
which tries to decode how the problem translates into a business
problem for the customer and how it will impact their organization.
A great example of this is “How do you see yourself solving this
problem in the short term and the long term?”
Finally, we understand the need-payoff where we want to answer
what the customer will get in terms of tangible and intangible values
if the problem is solved. This includes questions like “Do you feel
solving this problem would improve your bottom line and if so, by
how much?”
SPIN is very customizable and often tailored exactly to the customer
in question. In doing so, SPIN selling addresses concerns of the
customer which helps them create their counter propositions better.
In a way, SPIN selling ensures a conversion and helps build loyalty
and trust.
1.9.
Sales Roleplays
Sales roleplays, similar to the ones we did in class, are an effective
way to improve your sales skills. In situations like these, one person
takes the role of a buyer and other that of the seller to simulate a
real-world experience with more controls in terms of practice. The
objective of this is to ask the right questions to understand what the
customer wants and try to solve his pain points using a good value
proposition.
1.10.
Sales Ethics
When we talk of sales ethics, what we essentially mean are the moral
principles, value systems, and counteracting dilemmas that every
sales manager must keep in mind while doing a sale. Sales ethics are
an essential part of what salespeople should be trained in as well.
Some of the ethical parameters that we talk of are confidentiality, fair
treatment irrespective of background, and truthfully advertising
services and products. Additionally, sales ethics are critical if we want
to build a functional, reliable, and respectful relationship with our
customers.
1.11.
Key account management
Key account for a company essentially is the one which brings in the
lion’s share of revenue for the company. Key accounts are critical to
the company’s growth, revenue, and profits and that is why, is crucial
for success. For key account management, we need to decipher
what the customer wants and help solve their challenges by creating
mutually beneficial partnerships with them.
1.12.
Questioning skills
Questions play a pivotal role in driving sales for any organization.
Questions when asked correctly can be the difference between a
successful conversion and a failed one. It helps the salesperson craft
their sales pitch and offer opportunities and prospects that match
with the needs of the customer. These are usually open ended
questions designed for a conversation and building relationship with
the customer. Close ended questions usually come at the later stage
of the funnel when the deal is about to be closed.
1.13.
Objection handling
A salesperson should be adept at managing all objections thrown at
them and provide answers to the customer’s questions. Evidently,
during every sales process, it’s only obvious that objections will occur
and it’s the salesperson’s job to deal with it.
One of the important criterions for objection handling is to listen to
the buyer well and provide clarifying answers to their problems.
Concerns that often come up during this stage are related to the
product, price, competition, and timing. It is the job of a good
salesperson to understand and predict what these concerns can be
and go prepared into the conversation. In doing so, they are able to
build a rapport with the customer and cultivate the trust needed to
take the prospect into a paying customer.
1.14.
Serving Bottom of the Pyramid
Bottom of the pyramid refers to the pyramid of wealth, hierarchy,
social stature and categorizes the bottom rung of the social ladder.
This group is differentiated for having lower levels of income and
constrained access to resources and technology. The Bottom of the
Pyramid still remains a huge challenge for sales professionals
because although this segment is from low-income group, it is one
of the largest and growing segments in the world of sales.
Selling to this section requires a lot of understanding of it’s
customers, challenges that they face on a day to day basis and the
need to create innovative strategies to serve them better, meet their
demands, and be a part of their development story. Additionally,
there needs to be sufficient knowledge about the local dynamics as
well as a commitment to sustainably service the social and economic
cause.
Summary
Advanced selling skills and sales management require a blend of
technical expertise, strategic thinking, and ethical awareness. Both
businesses and salespeople must continuously hone their skills and
knowledge while being prepared to adapt to changing market
conditions and consumer demands. By doing this, companies can
have a positive impact on their customers and the neighbourhood
while competing successfully in today's fast-paced and challenging
sales environment.
2. Action Plan and Timeline
Sales management and selling abilities are crucial for any
organisation to flourish in the fast-paced and fiercely competitive
commercial environment of today. Selling skills are the talents of
salespeople to effectively communicate with and persuade potential
customers to make a purchase, whereas sales management
comprises developing and implementing a strategy to reach sales
goals. Organizations may generate revenue, grow their customer
base, and position themselves as leaders in their industries by
developing their sales management and selling skills.
The objective of an action plan is essentially to augment the selling
and sales management skill of any individual in an organization.
Spanning across several areas, it mainly consists of the following
headers. The idea of the plan is to be modifiable to suit the needs of
the situation and the organization.
2.1.
Training and Development
The first step of improving sales management and augmenting
selling skills is to properly train and develop the hard and soft skills of
the sales personnel. By focusing on product knowledge as well as the
overall technique of selling, the idea is to build strong leadership and
communication skills that can foster trust between the salesperson
and the customer.
First month: Evaluate the sales team's strengths and shortcomings
and note any areas that need more training.
Months 2-3: Create a training plan and specific training materials
based on the evaluation results.
Months 4-6: After the training, set up further sessions to help you
remember what you learned.
Months 7 through 12: Continue to assess the sales success and seek
out more training as necessary.
2.2.
Selling 101
The next step of the process is to understand the sales funnel and
getting familiar with the whole process of selling. To do this, we need
to take note of the current process, identifying weaknesses, discover
inefficiencies and streamline them to create a set of SOPs that are
repeatable to achieve sales success.
Months 1-2: Examine the current sales procedures and pinpoint any
areas that could use improvement.
Months three and four: Work with the sales team to establish
distinct roles and responsibilities for each team member as well as
new processes and procedures.
Months 5–6: Deploy the new sales processes if necessary, and give
the sales team regular coaching and support to make sure they are
adhering to the protocols properly.
Months 7 through 12: Continue to monitor and assess the sales
processes, and make appropriate adjustments to increase their
effectiveness and efficiency.
2.3.
Managing relationship with customers
Month 1: Evaluate the present customer relationship management
(CRM) system and pinpoint any areas that could want improvement
in Month 1.
Months 2-4: Invest in a new CRM system to fit the demands of the
sales team, or advise improving the current one.
Months 4-5: Take part in the sales team's training on how to use the
CRM system efficiently.
Months 6 through 12: Continue to keep an eye on how the CRM
system is being used and how well it is working, and seek out extra
training as necessary to boost output.
2.4.
The right set of tools
When we talk about sales tools, we mainly refer to CRM software,
analytics, POS and so on.
Till Week 8: Evaluate current status quo and see where you can
improve
Month 3-4: Invest in learning new technology and tools
2.5.
Collaboration and teamwork
A sales team which can collaborate with one another while getting
the job done has a much higher chance of success than teams which
don’t. A great way to assess and improve upon this is to visit the
timeline given below.
Months 1-2: Assess the sales team's existing degree of cooperation
and teamwork and pinpoint areas that need development.
Months three and four should be dedicated to creating a teamwork
and collaboration training programme as well as opportunities for
team building.
Months 5 and 6: Put the training into practise and promote
cooperation and unity among the sales team.
7th to 12th month: Regularly assess the success of the sales staff and
offer further training as required. Senior leadership and the sales
team must be committed to the ongoing process of enhancing sales
management and selling abilities.
The action plan's steps give people in businesses a road map for
enhancing sales performance and achieving their objectives.
Organizations can develop a high-performing sales team that
produces results and revenue by offering training, streamlining
procedures, enhancing customer relationships, and spending money
on tools and technology.
3. Feedback
3.1.
Pros of the course
A) The course included multiple roleplays and discussions which
were enriching and encouraged a lot of people to speak up
who might have been averse to doing so. Additionally, it helped
me understand my strengths and weaknesses and how I can
leverage them better to spearhead growth in the industry. The
roleplays allowed me to understand my peers’ perspectives
better which I believe is pivotal to learning in a sales course.
B) The instructor and the course material for ASSSM went hand in
hand. The instructor brought years of experience and
knowledge to the table. His work with one of the most
prestigious industrial groups in the country helped us
understand the real life implications of good sales. The course
material also covered a range of topics and scenarios creating a
holistic ecosystem for learning.
C) The course was extremely practical and the content was up to
date which meant that there was a lot of focus on developing
skills in effective communication, relationship building, and
problem solving.
3.2.
Scope for improvement
A) The course was pretty much in the Indian context. Blending
examples about foreign sales and how it happens in other
countries might have been more helpful.
B) The roleplays in class had 2 person whereas it’s expected that a
normal sales scenario will have more than that. It could have
been integrated into the course.
C) Having said that, 20 sessions is not enough for a course of this
much depth and possibilities for experimentation.
In conclusion, ASSSM was one of the best courses I took in this term
and I believe it has helped me hone and build skills which I would be
using for years to come. A huge vote of thanks to the professor who
took the time out to explain every concept with proper examples
and always showed up with a lot of enthusiasm to teach us.