MNM3703 Sales Management Full
Notes
MNM3703 Sales Management
2017 Exam Preparation Notes and Summary . By: Dubst3phs
NB: Don’t use bullet points in the exams.
TOPIC 1: THE SELLING PROCESS
STUDY UNIT 1: Sales careers and the selling process
1.1.
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Overview of the selling process
Personal selling has changed over the years
Selling is a marketing component
A salesperson can be described as
Specialist
Well informed
Self-managed
Motivated
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Well organized
Flexible
Enthusiastic
Even-tempered
Consumer protection act 68 of 2008 and the national credit act 34 of 2005
3 types of sales support
o self-support
o core team support
1.2.
Roles of the salesperson
The major roles of salespeople are the sales role, marketing role and customer relationships role
 Sales role
o Short term goals
o Persuade customer to buy
 Marketing role
o Problem solving
o Developing and implementing sales strategies
 Customer relationship (partnering)
o Building and maintaining relationships
1.3.
Drivers of change in sales management and selling
The world is constantly changing and this a sales person needs to be able to adjusts and these are the drivers
 Building long term relations with customers
 Sales organizations structure adaptable to all customers’ needs
 Job ownership and commitment
 Shift of sales management
 Leverage technology
 Integrate performance evaluation
 Be aware of drivers of change in selling.
1.4.
Selling as a career
Why should you choose sales?
• Serve others by helping them
• Many sales jobs available
• Freedom and independence
Career stages:
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Challenges that a sales career offers
Opportunity for advancement
Financial and non-financial rewards
1.5.
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Types of sales jobs
Retail sales
o Instore (most common)
o Door to door
o Telephone
Wholesales
o Distributor who purchase products for resale from manufacturers
Manufacturer
o Works for organization that produces the product or service
1.6.
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
Step 7
Step 8
Step 9
Step 10
The steps in the selling process
Prospecting
Pre- approach
Approach
Presentation
First trial close
Determining objections
Handling objections
Final trial close
Closing the sale
Follow up
1.6.1. Step 1: prospecting
Finding leads of prospective customers
– Internal methods
Company records
Call centre enquiries
Queries from potential prospects
Ask salespeople
– External methods
Referral from customers
Friends or acquaintances
Networking
–Personal contact
Cold canvass
Look and listen
Compiling prospect lists:
1. Set objectives for prospecting
2. Allocative time to prospecting activities
3. Decide on the best prospecting method to meet objectives
4. Customize the prospecting plan
5. Evaluate the results
1.6.2. Step 2: pre-approach
Benefits of information gathered during this phase:
✓ Information is useful when approaching prospects
✓ Helps in making sales presentations
✓ Helps avoid errors
✓ Increases self-confidence
✓ Armed with knowledge
 Learn everything about the prospect
o Industry
o Competitors
o Operations
o Suppliers
o Financial health
o Products
o Credit ratings
 Prepare prospect for the first sales contact
o Seeding
▪ Email or mailing brochure
o Pre-notifications
▪ Phone call or email
 Get the appointments
o Checklists when using a phone
▪ Plan what you are going to say
▪ Write down key points
▪ Identify the person to speak to
▪ Greet the prospect in a friendly but respectful manner
▪ Identify themselves and the company represented
▪ Make sure they are speaking to the right person
▪ Not waste time
▪ Use the phone only to secure an appointment and not to sell
▪ Use the prospects name frequently
 Sales presentation
o Structures (memorized)
▪ Same product is sold on every call.
▪ Advantage: all sales people selling the same message
o Unstructured
▪ Need-fulfilment
▪ Flexible and interactive
o Semi-structured
▪ 5-point sales presentation
▪ structured and personalized.
▪ Disadvantage: not adaptable to complex selling situations
o Customized
▪ Problem solution
▪ ‘suitable for highly complex and technical products
1.6.3. Step 3: approaching prospects
Different approaches
• Introductory- states name, company and reason for visit
• Product demonstration- attempts to engage in trying to examine the product
• Customer benefit- emphasizes the benefits of purchasing to the customer
• Curiosity- asks questions or gives statements that arouse curiosity
• Question- starts by asking questions to gain additional insights
• Statement- opens with a short and effective statement
• Premium- giving a small gift
• Survey- starts presentation with an information gathering survey
• Compliments- giving a sincere compliment that boosts prospects ego.
• Shock- telling the prospect something he doesn’t want to here, like their website is crap
1.6.4. Step 4: sales presentations
✓
✓
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Logical order
Describe product/ service
Benefits must be clearly indicated
Details which assist in closing the sale must be given
Enable the sales person to achieve their goals
1.6.5. Step 5: first trial close
This is not an actual closing technique but a way to test the prospects attitude towards the presentations.
Important times during the presentation a trial close should take place
 After strong selling point
 After presentation
 After answering objections
 Before moving to close
1.6.6. Step 6: determining objections
Categories of objections:
• Uncommon
o Heard another company had a problem with your product/service
• Hidden
o When they don’t want to tell you that they closing down
• Stalling
o Want more time so they don’t have to deal with you
• No-need
o Good product but we don’t need it
• Price
o Too expensive, which means you didn’t add value in presentation
• Product
o Product is not well known
• Source
o Loyalty towards current provider
1.6.7. Step 7: handling objections
Basic points to assist in handling objections
 Anticipate objections
 View objections as opportunities
 Reflect positive attitude and body language
 Listen carefully
Strategy to handle objections
 Welcome the objection
 Carefully listen and observe body language
 Rephrase and repeat objections
 Boomerang technique- when the reason they don’t want to buy is the reason they should
 Overturn objections by correcting facts
 Ask direct questions
 Acknowledge the prospects objective
 Let another person answer the objection
1.6.8. Step 8: final trial close
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Establish the frame of mind
Give the buyer a chance to say if they are ready or not.
1.6.9. Step 9: closing the sale
Reasons for close failures
➢ Lack of skills
➢ Guilty feeling (asking for money)
➢ Fear of closing (rejection)
Types of closing techniques
❖ Ask for the order
❖ Alternatives
❖ Assumptive
❖ T-account
❖ Minor point
❖ Standing-room-only
❖ technological
1.6.10. The follow-up
➢ After sale action- execute promises made in the presentation
➢ Customer relationship- give excellent service as it leads to repeat sales
➢ Self-evaluation- ask yourself what you could have done better
TOPIC 2: SALES MANAGEMENT
STUDY UNIT 2: sales management planning
Sales force is a group of people in a sales department responsible for selling products and services
These include support staff.
2.1.
Planning of personal selling
Two phased of planning personal selling
a. Objective setting
a. Short term
b. Long term
c. Sales
d. Profit
i. Is necessity for growth
ii. Ensures survival of business
iii. Attracts potential investors
b. Determining the nature of the scope.
a. Achieving predetermined objectives
b. Steps
i. Defining activities
ii. Demarcation of sales areas
iii. Route planning
Forecasting:
➢ Is a team effort
➢ Market potential, sales potential and sales forecasting
➢ Aspects that affect sales forecasts
➢ Steps of sales forecast
➢ Different methods of sales forecasting
2.2.
Structuring the sales organization
Organisations need to structure their sales departments in order to achieve their short and long-term goals
Formal organisation design must include
✓ Development and implementation of the predetermined strategy of the company
✓ Recognition of the informal organizational structure and human needs
✓ Assurance of strategy that is implemented
✓ Must be performed effectively.
Formal organisational structures- CEO, COO, Directors, managers
Informal elements- social clubs, stockvel
2.3.
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2.4.
Aspects involved in the structuring of sales organizations
Nature and size of business
Methods of distribution
Selling policies
Financial condition
Personality of sales managers
Status of sales managers
Strengths of the sales departments
Function that sales departments will perform
Designing the organizational structure
The term “organisation” has the following four broad meanings:
a. Process: to ensure effective utilization of resources such as employees, finance and assets such as
machinery
b. Framework of relationships: colleagues’ relationships and relationships with stakeholders
c. Group of persons: employees and managers
d. A system: comprising unique components
Main characteristics of an organisation are:
• Defining objectives
• Identifying and listing the activities
• Assigning the responsibilities
Significance of organisations within the firm:
• Assist with administrational and
management
• Ensuring growth
• Most efficient use of employees
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Delegating authority
Establishing relationships
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Encourages creativity
Tool for achieving objectives
Prevent corruption
Eliminate overlapping and duplicate work
Process of organisations
Establish objectives
Determine activities required to reach set objectives
Group together similar activities that have a common purpose
Define responsibilities of each employee
Delegate authority to employees in order to carry out responsibilities
Define authority by delegating higher authorities to some
Provide resources that assist employees to achieve objectives
Co-ordinate efforts of all employees to the common set objectives
2.5.
Organizational structure
Arrangement of line, authority, communication, rights and duties in the business
Principles of organisational design
➢ Have marketing principles
➢ Facilitate activities not people
➢ Responsibility and authority supported
➢ Reasonable span of control
➢ Stable but flexible
➢ Balanced and coordinated
2.6.
Organizations pyramid
Executives
Middle management
Lower-ranked employees
2.7.
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Organizational chart
Illustrated formal structure in terms of relationships between employees and departments
Shows lines of authority and responsibility
Defines requirements of each job and groups into units
2.8.
Authority and responsibility
Authority: power and rights to perform or command
Conditions for authority:
• Understanding
• Compatibility
• Consistency
• Skills and knowledge
Types of authority
Line- most essential. Feedback to person you work under
Staff- right to assist or advise people that possess line authority or other personal.
Functional- right to give orders in a segment
Responsibility: duty to perform a task
Characteristics of responsibility:
✓ Continuous obligation
✓ Superior-subordinate relationships
2.9.
✓ Cannot be delegated
✓ accountability
Delegations
Defined: assigning tasks and authority from a position to another
Elements:
✓ Assign duties
✓ Creating accountability
✓ Granting authority
Steps to ensure effective delegation:
a. Define task
b. Select subordinates
c. Assess ability and training needs
d. Provide explanations
e. State desires results
f. Consider resources
g. Set deadlines
h. Support and communicate
i. Provide feedback
2.10. Division formation
➢ A line organization:
o This is the simplest structure, where authority flows from top management down to lower-level
management.
▪ An example would be a national sales manager at Old Mutual giving directives to
provincial sales managers, who – in turn – inform the regional managers to train
salespersons on medical cover.
➢ Line versus staff organisation:
o In most sales organizations, there are line and staff components. Line management focuses on the
supervisor-subordinate relationship. The line manager has direct authority and power to direct the
actions of the subordinate, who is accountable for carrying out certain duties.
▪ For example, the regional sales manager could be seen as the line manager to the sales
representative.
➢ Functional organisation:
o In an organisation, a specialist may be assigned to carry out certain tasks.
▪ For instance, a national sales manager may be hired as a specialist to oversee certain tasks.
This can potentially be achieved to see increasingly successful implementation of sales.
➢ Horizontal organisation:
o This is a form of decentralised power structure in an organisation. Executives oversee support
functions. Although functions and structures cannot be completely eliminated, modern-day
organisations are becoming horizontal or ‘boundary-less’ and tasks and hierarchical structures are
done away with.
▪ Horizontal organizational structures are typically associated with a democratic
management style. Google and Semco are good examples of organisations that have a
horizontal structure.
➢ Centralisation versus decentralisation:
o Centralization and decentralization depend on factors such as the kind of industry, organisational
strategy, size, structure and management philosophy of the organization.
2.11. Types of sales departments
❖ Geographic specializations
o Most common/ Based on physical territories
❖ Product specialization
o Divides teams based not eh products they sell
❖ Product operating specializations
o When products are separated into different groups and sales people sell only that products
❖ Products Staff specialization
o When management has staff assistants who specials in products
❖ Market specialization
o Divide sales team based on customers
❖ Specialization by function
o When after sales people perform a different job such as maintenance.
❖ The matrix organizations structure
o Most recent/ Sales people are divided based on a project basis.
2.12. Span of control
Defined: number of people that report to one manager in a hierarchy
When more than one person is reporting to a manager they need to practice span control.
Four main factors determining span of control:
1. Type of work- More technical work will require a narrow control span
2. Leadership style- Autocratic managers prefer a wider span
3. Abilities of subordinates- Higher skilled employees require less supervision
4. Organizational structure- The more levels in the pyramid the narrower the control span.
2.13
Types of relationships (not in study guide but put in for good measure)
Formal and informal organisation
➢ Formed by
➢ Rules and regulations
➢ Duties and responsibilities
➢ Goals and objectives
➢ Stability
➢ Channels of communication
➢ Superior and subordinate relationships
STUDY UNIT 3: Sales forecasting and budgeting
Focusses on what will happen in the future of the organisation.
Plays a big role and have an impact on financial performance and overall planning.
3.1.
Main concepts in sales forecasting
❖ Market potential
o Total number of a particular product that a market can consume in a specific geographic area.
❖ Sales potential
❖ Sales forecast
o Estimated numbers of sales in units, sold for a specific period in the future
❖ Sales quotas sales objectives set
o Per sales department
o Sales territory
o Salesperson
o Product line
3.2.
Steps in sales forecasting
Step 1: Basic issues in forecasting
Step 2: Determining the factors that affect future sales in the step period
• Controllable factor
• Uncontrollable factors
Step 3: selecting the method of forecasting
Step 4: Doing the initial sales forecast
Step 5: Doing the final sales forecast
Step 6: Setting operational plans to achieve estimated sales
Step 7: Evaluating and revising the sales forecast
3.3. Sales forecasting methods
1. Qualitative/ Subjective (long questions based)
a. User surveys
Advantages
Obtained directly from user
More detailed
Assist in planning or marketing mix
Very helpful with new products
Disadvantages
Limited users
Doesn’t work in consumer markets
Based on estimation
Takes time and money
b. Jury of executive opinion
Advantages
Be done easily
No complicated statistics
Knowledge of top people
Useful for innovation
Disadvantages
Includes total market
Expensive
Forecast is spread
Group dynamics play a role
c. Sales force surveys
Advantages
Sales people held responsible
Accurate method
Controlling activities
Done in specific sales areas
Disadvantages
May not be bias
Sophisticated methods to prevent bias
Correcting bias forecasts can be costly
d. Delphi method
Advantages
Minimises effect of group dynamics
Can use statistics
Disadvantages
Very very expensive
e. Market tests
Advantages
Under real conditions
Marketing mix can be tested to gauge effectiveness
Useful for new product and innovation
Disadvantages
Competitors see you
Competitors may react
Expensive and takes time
2. Quantitative/ Objective (numbers based)
a. Time series data analysis
i. Trends- upward or downward
ii. Cyclical changes- wave like motion
iii. Seasonal variation
iv. Erratic factors
b. Moving average
i. Uses historical data over a set time.
c. Exponential smoothing
i. Weighted moving average of past sales data.
d. Other trends analyses
i. Most commonly used
ii. Statistical knowledge
e. Casual techniques
i. Correlation analysis
1. When sales are related to something other than time.
ii. Econometric models
1. Equation based
2. Inflation and interest rates
iii. Input-output models
1. Extremely complex
2. Based on specific industries
f. Decomposition
i. Significant difference over a shorter time.
g. Statistical demand analysis
i. Analyzing the past
ii. Based on volume of sales over a period of time.
iii. Influenced by changes in the environment or market.
Improving sales forecast accuracy (not in study guide but in text book)
• Sales manager should steer clear of only using forecast methods
• Only use methods suitable to your environment and sales department
• Develop small numbers of causes.
• Get an array of forecasts
• Use IT products that assist in forecasting
3.4.
The sales budget
❖ Planning
❖ Co-ordination
❖ Control
Different activity budgets
➢ Sales budget
o Financial plan
➢ Selling expenses budget
o Marketing plan
➢ Administrative budget
o Day-to-day expenses
Steps for setting budgets:
Step 1
Review and analyse the current situation
Step 2
Communicate sales objectives
Step 3
Identify specific problems or opportunities
Step 4
Develop an initial allocation of resources
Step 5
Prepare a budget presentation
Step 6
Implement the budget and provide feedback
3.5.
Sales quotas
Factors for setting up sales quotas:
 The selling cycles
 The type of product
 Number of sales quotas according to different territories
Objectives of sales quotas:
✓ To set standard for performance evaluation
of the sales force
✓ To control selling expenses
✓ To motivate the sales force
✓ To develop effective remuneration plans
✓ To establish which market areas, need extra
promotional efforts
✓ To identify sales training needs
✓ To assign selling activities
✓ To assist in the correct distribution of
products
✓ To achieve higher sales and profits
Three Types of quotas:
❖ Sales volume quota- Set in monetary, unit or points
❖ Profit based quota- Based on profits made
❖ Activity quotas- Based on calls, meetings or other activates.
STUDY UNIT 4: territory and time management
TIME –TERRITORY AND SELF-MANAGEMNT: KEYS TO SUCCESS
• A sales territory comprises a group of customers or a geographical area assigned to a salesperson.
• Development of sales territories is the responsibility of the sales manager
• Importance of time and sales territory
4.1.
Improving sales productivity
By improving customer loyalty and efficiency
 Enhancing customer/prospect insight
 Elimination administrative tasks and freeing up selling time
 Streamlining selling process
 Use of technology to support a well-defined sales process
 Workflow and integration for use of technology
4.2.
Establishing Sales Territories
Reasons for establishing sales territories
✓ Achieve the company sales and market
objectives
✓ Strengthen customer relations
✓ Ensure better market coverage
✓ Reduce selling costs
4.3.
✓ Build a more effective sales force
✓ Evaluate performance more accurately
✓ Coordinate selling with others marketing
functions
Designing sales territories
Steps in designing sales territories
Step1: Select a geographical control unit
Step2: Estimate market potential in each control unit
Step3: Combine control units into tentative territories
Step4: Perform workload analysis
• Build-up model- requires intensive distribution
o Workload capacity
o Call frequency per account per year
o Total calls needed in each control group
• Breakdown method- industrial products
o Organizations sales potential
o Sales potential in each control unit
o Sales volumes expected from each sales person
Step5: Revise and adjust tentative territories
Step6: Assign salespersons to territories
4.4.
Self-management
Self-management relates a salesperson related to their discipline and principles. It is a performance culture with the
following attributes:
• Direct planning
• Use of technology
• Achieving personal goals
To get things done faster
o Innovate
o Leverage resources
o Be bold
o be diligent
o Go extra mile
4.5.
Time management and routing
The salesperson is responsible of managing time through 
 Schedules
 Appointments with clients
Managers must ensure salespeople:
 Avoided Time traps
o Things that influence efficiency
 Time wasters
o Not being able to priorities.
 Allocate time
 Set weekly and daily goals
 Manage time during sales calls
 evaluate
Important time management is to ensure selling time
Routing is devising a travel plan or pattern to use when making sales calls to efficiently cover a territory.
A properly designed routing system has 3 primary advantages:
✓ Reduced travel time and selling costs
✓ Improved territory coverage
✓ Improved communication
Disadvantages of routing:
❖ Reduced salesperson initiative
❖ Inflexible and formalized plan
TOPIC 3: SALES MANGEMENT ACTIVITIES
STUDY UNIT 5: Recruitment and selection of salespersons
5.1.
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Job Analysis
A sales force is a group of individuals in a sales department responsible for selling products or services.
This group of individuals (employees) need not to be only qualified, but also fit with the organisation
culture and job demands in order to achieve the marketing objectives.
In doing so, effective recruitment process by managers should be in place.
5.1.1. Purpose of job analysis
Defined: Job analysis can be defined as a process that examines the expected behaviour of an employee and
specifies their performance required.
Job analysis is can be done for:
✓ Recruitment and selection
o Type of employee needed for the job
✓ Performance analysis
o Review to see if the employee is achieving goals and objectives
✓ Employee training
o Determining training that is required
✓ Compensation
o Remuneration can be determined by the job at hand and the tasks being done
✓ Job design and redesign
o Helps design and set job requirements for the employee
5.1.2. Stages in the job analysis process
Plan and
identify
objectives
Prepare the
job analysis
conduct the
job analysis
develop job
specifications
review job
description
and
specifications
5.1.3. Job Analysis methods
Three methods
➢ Interview method
o Employees come in to be interviewed
➢ Observation method
o Observed and work and their performance records
▪ Direct observation- their work methods and behaviors
▪ Work methods analysis records the time taken to complete the task and action involved
▪ Critical incident technique identifies the work behavior that results in performance of the
employee
➢ Questionnaire method
o Distributing a questionnaire to employees and managers.
o May be incomplete as they fear how the information will be used.
5.2.
Job description/ profile
Defined: Job description is a written explanation of a specific job and the duties and responsibilities involved.
Keys points in Job description are:
• Job title
• Purpose of job
• Job responsibilities
5.3.
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•
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Experiences
skills and education
Package/salary
Job profile
See above
5.4.
Recruitment and selections
5.4.1 Recruitment of salespersons
Three types of recruitment for sales people.
 INTERNAL
a. Promotion
b. Transfer
c. Internal
advertising

d. Retired
staff
e. Recall from
long leave
EXTERNAL
f. Print media
g. Internet
advertising
h. Private
agencies
i.
j.
k.
Advantages/disadvantages of internal
Advantages/Disadvantages of external
Campus
recruitmen
t
Head
hunting
Recommen
dations
Well-formulated job adverts usually have
• very specific requirements
• give lots of detail
• are open about the job specifications Poorly formulated job adverts
• are very vague about requirements
• sound too good to be true
• set out too many requirements
5.4.2. Selection of salespersons
Stages in the selection process
Stage 1
Initial screening
Stage 2
Employee testing
Stage 3
Employee interview
Stage 4
Background checks
Stage 5
Medical exam
Stage 6
Decision
Stage 7
Job offer
Stage 8
contract
5.5.
Incorporation of new staff
❖ After recruitment and selection processes, new employee needs to go through an induction and orientation
programme.
❖ Induction is a process of getting new employees acquainted with the industry, the organisation, the
product, the customers and the business objectives.
5.5.1. Induction and orientation
New employees need to familiarise themselves with the business. An induction process should cover the following:
• The industryo Employees need to have a basic knowledge of the business sector, their position in it and, most
importantly, who their competitors are.
• The products –
o Employees need to make sure that they are completely familiar with the goods or services they will
be selling and how these might differ from their competitors’ offerings.
• The customers –
o Employees need to receive lists or databases of customers so that they know the types of
individuals or organisations they are catering for.
• The business objectiveso Employees need to understand the direction in which the business is headed.
5.5.2. Reasons for induction
✓
✓
✓
✓
✓
Forms good first impression
Builds employee confidence
Easier translon into new organization
Reduced the number of new employees who leave
Better adaptation to the organization
5.5.3. Principles of induction
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Individuality
Involvement of line manager
Induction coordinator
Gradual process
Experiencing the job
5.5.4. Elements of a good induction programme
1. Introduction to the organization, the building and key staff
2. Explanation of the terms of employment
3. Detailed description of the job, daily tasks and training
For an induction programme to be successful the following is required:
• A continuous process
• Fully supported top management
• Clearly focused on goals and outcomes
• Relevant and important
• Welcoming
5.6.
Placement of salespersons
Three types of placements
1. Selecting and placing the employee in a specific position
2. Selecting a new employee for a position that has not been specified yet
3. Selecting a new employee to be placed in any position
Seven steps in the placement process
Step 1
Collect the necessary employee details
Step 2
Identify employee requirements and capabilities
Step 3
Compile the employee profile, based on needs and competencies
Step 4
Compare the subgroup profile and individuals profile to find a match
Step 5
Compare and match the subgroup and job family profile
Step 6
Assign the individual to the job family that matches the profile
Step 7
Ensure that individuals are assessed and counselled before being placed in a specific job
STUDY UNIT 6: Sales Training
6.1.
Definition of sales training
Sales training is defined as a sequence of conversations and activities that provides ongoing feedback and
encouragement to a salesperson or a sales member force with the goal of improving hat person's performance
6.2.
The importance and purpose of sales training
❖ Sales training keep up to an organisation with the latest developments in their industry.
❖ The purpose of sales training is to better the salespersons knowledge, skills and customer interaction and
product knowledge.
6.3.
Guild lines for developing and conducting sales training
1. Establishing sales training objectives
2. Identify who need training
3. Identify training need and goals
4. Identify how much training is needed
5. Identify who should conduct the training
6. Determine when the training should take place
7. Determine where training should take place
8. Select the topic and content of training
9. Select the teaching methods
10. Determine how training will be reinforced
11. Determine what outcomes will be evaluated
12. Determine what measures should be used to evaluate the training.
6.4.
Planning for sales training
✓ Sales people need to work with key personnel in other departments to assign insights into how they
function and how they relate to the selling function
✓ Searching for and selecting the latest relevant sales aides, software, videos and other materials that are
necessary for the training programmed
✓ Accompanying sales people in the field
✓ Identifying suitable professional workshops and training programs
✓ Conducting periodic training meetings and conferences.
6.5.
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
Step 7
Step 8
Assessing sales training
Analyse the strategic programme of the organisation to establish changes in the products soled
Analyse the type of customers called on
Do a sales force observation and/or survey by traveling with sales people
Ask field sales manager
Send questionnaires to customers asking them what they expect from the sales person
Interview key members to identify training needs
Research the organisations records showing turnover data, performance evaluations and sales and
cost analyses
Interview sales personal regarding what skills they think they need
6.6.
Determining the objectives of sales training
❖ The primary objective of sales training should be to improve the performance of employees and increase
their productivity.
Benefit of setting objections:
• Increased productivity
• Lower turnover of salespeople
• Improved customer relations
6.7.
•
•
•
Improved morale
Improved time and territory efficiency
Improved use of applications of technology
Contents of the sales training programme
A good training programme should cover the following aspects:
✓ knowledge of the organization
✓ the different sales techniques to be followed
✓ knowledge of the product or service
✓ information about service conditions and
✓ customer and market knowledge
remuneration
✓ information about the competitors
✓ technology-based skills that are required
✓ explanation of the selling process
The training programme will differ according to the organisation, its products, policies and the abilities of the
employees who are to be trained.
6.8.
Implementing the sales training programme
Key factors for a successful training programme implementation
1. success requires planning, communication and leadership
2. leadership team needs to craft a strategic planning process that fits culture, experience and history
3. Appropriate sales training programmed bust be developed and implemented
6.9.
Making training delivery decisions
1. Amount of training needed
a. Setting time to how long each activity needs to be focused on
2. Staffing the training program
a. Who will be delivering the training
i. Line personnel
ii. Staff trainers
iii. External training specialists
3. When training should take place
4. Where to conduct the training
a. Centralized
b. Decentralized
c. Field training
5. Choosing instructional methods
a. Literature
b. Group discussions
c. Role playing
d. Simulation games
e. Demonstrations on-the-job training
f. Personal conference
g. DVD/video/Audio
h. Computer-based training
6.10. Sales training techniques

Above under instructional methods.
6.11. Preparations, motivating and coaching trainees
The sales manager must also encourage the sales personnel to participate enthusiastically in the training
programme.
After the training has been completed, the sales manager should conduct follow-up discussions to reinforce the
skills and knowledge that was learnt.
6.12. Evaluation of the sales training programme
-Feedback from trainees
-Written tests
-Observation of the trainees
-Compare results with objectives
-Feedback from customers
6.13. Ethical and legal implications
The sales training programme must take into consideration the ethical and legal codes of the organisation.
It is important to deal with the ethical codes for every possible situation that the salesperson might experience,
indicating how he/she should behave in that situation without breaking the organisation’s ethical code.
STUDY UNIT 7: Leadership
7.1.
Characteristics and skills of a good leaders
Myths about leadership:
 Leaders are born with the right personality
 Leaders must have charisma
 Leaders must be aggressive
What leadership involved:
✓ Influence
✓ Intention
✓ Personal responsibility
✓ Change
✓ Shared purpose
✓ Followers
Desirable traits of an effective leader
 Honesty
 Ability to delegate
 Communication
 Sense of humor
 Confidence
 Commitment
 Positive attitude
 Creativity
 Intuition
 Ability to inspire
Skills required by effective leaders:
Technical skills
Product knowledge
Selling skills
Negotiating skills
Industry-specific skills
Computer literacy
7.2.
Human Relations skills
Basic psychology
Perception
Communication
Co-operation
Conflict management
Conceptual skills
Planning
Organisation
administration
Analytical competence
Decision making
Leaderships, supervision and management
Power and leadership
Bases of power:
Legitimate Power
• Is based on
the position
held by the
leader
within an
organization
Position authority
Reward Power
• Based on
the leader’s
capacity to
provide
incentives
Coercive Power
• Based on
the leader’s
choice to
punish and
withhold
rewards
Personal authority
Referent power
Expert power
• Based on
• Based on
the leader’s
the leader’s
charisma
skills,
and ability
knowledge
to inspire
and
expertise
Leadership and management styles:
Five types of leadership styles:
1. Autocratic
a. Manager makes all the decisions unilaterally without taking anyone else’s opinion into
consideration
2. Persuasive leadership
a. When manager makes the decision and then convince sales staff of their choice.
3. Consultative leadership
a. Manager seeks input from sales team before making decision
4. Democratic leadership
a. Majority rule
5. Laisses-faire leadership
a. Without structure or control. Least amount of control
Reasons why supervision is needed:
▪ Cost of sales calls
▪ Time management
▪ Directing the efforts of the sales force
▪ Support function
▪ Needs of the sales force
Levels of supervision needed
▪ Complexity of product or selling tasks
▪ Competence and experience of the sales person
▪ Importance of customers being serviced
▪ Time from of decisions
▪ Delegation of authority
Supervision in practice:
Step 1
Step 2
Step 3
Step 4
Step 5
Sales manager become familiar with each salespersons ability and personality
Each salesperson prepares their own objectives for the coming period
Sales manager develops and describes the firm’s objectives in a straightforward, understandable
manner
Combining step 3 & 3 the sales manager determines objectives for the coming period
Salesperson and manager plan detailed steps to achieve mutually agreed objectives
Step 6
Agree-upon deadlines to evaluate the degree to which the objectives have been met.
7.3.
Outcomes of effective leadership
1. Well trained sales people
a. Less control and supervision required from manager
b. Higher performance and less wastage on resources
c. Increases proficiency and skills
d. Better flexibility and ability to adapt to changes
e. Quality and quantity output
2. Trust among salespeople
a. Increased team interaction
b. Successful collaboration
c. Knowledge sharing
d. Procedural effectiveness
e. Performance efficiency
3. Citizenship behaviors
a. Enhance productivity
b. Free up resources as co-operative employees give managers more time for other issues
c. Attract and retain good employees by creating and remaining friendly and supportive
d. Create social capital
4. Better performance
5. Sales force morale
7.4.
▪
▪
▪
▪
▪
▪
Problems in leaderships
Conflict of interest
Problem sales people
o Aggressive
o Low enthusiasm
o Burn out
o High enthusiasm
o Inconsistent behavior.
Termination of employment
Poor performance
o Lack of focus
o Lock of system
o Lack of collaboration
o Poor time management
Unethical behavior
Unhealthy competition within the team
STUDY UNIT 8: Sales Motivation
8.1.
The meaning of motivation
Motivation is the process that initiates, guides and maintains goal-oriented behaviours.
Motivation is what causes people to act, whether it is getting a sandwich because you are hungry or going for a run
because you are training for a marathon.
Motivation is an internal process that makes a person move towards a specific goal. Even though motivation
cannot be seen, it can be inferred by noting a person’s behaviour.
Motivation is the inner power that pushes you towards action and achievement. In addition, motivation is driven
by aspiration and desire. Sometimes you might have the desire to get something done or to accomplish a certain
goal, but if the desire and determination are not strong enough, you will lack the readiness to take the required
action.
Three elements
❖ Intensity
❖ Persistence
❖ Direction
A need that must be satisfied
8.2.
Motivational theories
Type of need
1. Primary: to stay alive, food, air, water
2. Secondary: interaction, social acceptance, love, security, self-respect
8.2.1. Vrooms expectancy model
Vroom’s expectancy model is based on three elements, namely expectancy, instrumentality and valence.
Expectancy is the belief that improved work effort will lead to improved performance.
For example, if I work harder, my situation will improve.
❖ Expectancy is influenced by
o having the right resources (e.g. training, time and raw materials)
o having the right skills (e.g. people skills)
o having the necessary support to get the job done (e.g. support from management) Instrumentality
is the belief that if you perform well, you will receive something in return. For example, if I do a
good job, there is something in it for me.
❖ Instrumentality is influenced by
o a clear understanding of the relationship between performance and outcomes
o trust in management to decide who gets what
o transparency of the process that determines who gets what outcome Valence is the significance
that the salesperson places on the anticipated outcome. For example, if the salesperson is mainly
motivated by money, he or she might not value offers of extra time off from work, for example.
8.2.2. Maslow’s hierarchy of needs
8.2.3. Herzberg’s motivation-hygiene theory
8.2.4. Adams equity model
— Inputs and outputs
8.2.5. Likers management model
Four management systems
1. Exploitative authoritative system –
a. Responsibility lies with top management. Decisions made by management are forced upon the
employees, who do not feel free to discuss the work with their managers. There is almost no
teamwork or communication between management and employees, and therefore employee
motivation is based on intimidation.
2. Benevolent authoritative system –
a. Responsibility lies with management. There is very little teamwork and communication, and
motivation is based on a rewards system.
3. Consultative system –
a. Responsibility is spread throughout the chain of command. Management does have some faith and
trust in employees to make decisions. Teamwork and communication take place vertically and
horizontally. Motivation is based on involvement and rewards in the job.
4. Participative system –
a. Management has high levels of faith and trust in their employees. Participation and teamwork are
prominent features.
8.2.6. The Churchill, Ford and Walker model of sales force motivation
Effort
Motivation
Satisfaction
8.3.
Importance of motivation
Motivation = performance and productivity
Challenges of motivating employees
❖ Unique nature of sales jobs
❖ Individuality of salespeople
❖ Changes in market environment
8.4.
Motivation in practice
Motivation is a vital factor for business in the production process
❖ Reward programmes and systems
❖ In line with strategic goals of organisation
❖ Financial and non-financial compensation
Performance
Reward
8.5.
✓
✓
✓
✓
Guidelines for motivating sales people.
Taking cognizance of individual needs
Knowledge and skills
Job design
Proactive approach
STUDY UNIT 9: Sales force remuneration
❖ More than determining how much salespeople get paid
❖ Achieve long term organisational goals and motivate salespeople
o Achieve three goals
o Motivate salespeople
o Make a profit (organisation)
o Make an income (salespeople)
9.1.
Elements of remuneration
1. Fixed element
a. salary
2. Variable element
a. commission
3. Fringe benefits
a. bonuses
4. Reimbursement of selling expenses
a. expenses
9.2.
Objectives of a remuneration plan
➢ Organizational approach
o To motivate the sales force
o To correlate efforts and results with rewards
o To control sales force activities
o To ensure proper treatment of customers
o To attract and keep competent sales people
o To be economical and stay competitive
o To be flexible and maintain stability
➢ Salesperson approach
o Income
o Simplicity
o Fairness
Guidelines to achieve competent sales people
 Hire commitment over competence
 Focus on behaviors
 Set culture in motion from hiring date
9.3.
Sales force remuneration plan
Developing a remuneration plan
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
Step 7
Step 8
Evaluate the sales job description
Establish specific objectives
Determine levels of remuneration
Develop the remuneration mix
Consult the present sales force
Pre-test the plan
Revise the plan
Implement and evaluate the plan
Four characteristics of a remuneration plan
1. Salesforce drives the organisation’s top line
2. Sales outputs are measurable
3. Incentives make salespeople produce results
4. Incentives acknowledge a salespeople’s success
Factors to help managers find balance:
➢ Requirement of the organisation
➢ Requirements of the salesperson
➢ Attract salespeople to the organisation
➢ Influence the sales situation
➢ Product or service being sold
➢ Competencies or activities needed from salesperson
9.4.
Types of remuneration plans
9.4.1. Financial remuneration plans
❖ Straight salary
o Fixed financial reward
▪ High tech sales situations
▪ Extremely large, irregular sales situations
▪ Pull-through sales situations
• Missionary sales people where mail function is not selling
▪ Unstable marketplace
▪ New or transitioning salespeople
❖ Straight commission
o Opposite of straight salary, commission only
❖ Combination plans
o Where two or more plans are combined.
▪ Salary plus commission
▪ Salary plus bonus
▪ Salary plus commission and bonus
▪ Commission plus bonus
❖ Sales contest
o Method of remuneration through positive competition
▪ Set up of objections
▪ Contest theme
▪ Probability of winning
▪ Types of rewards
▪ Promoting and follow-through
❖ Performance bonus
o Extra given for over performance
9.4.2. Non-financial remuneration plans
❖
❖
❖
❖
❖
❖
9.5.
Work-life balance
Promotion and personal growth
Sense of accomplishment
Recognition programme
Job security
Expense account
o Direct expense- credit given and salesperson can use it as they see fit
o Limited expense account- given a budget each month
o No expense account- no reimbursement.
Trends in sales force remuneration
Four major trends affecting remuneration plans
1. Salespeople are increasing their productivity and are being retained for longer.
2. Customer relationship-building has become part of many organisations’ remuneration plans.
3. Remuneration plans are being developed to fit international standards.
4. Remuneration plans are being developed to include all the functions that a sales manager is involved in.
9.6.
Ethical and legal implications
 South African Labour Relations Act, Health and Safety Act
 Managers should follow industry guidelines for ethical working conditions and legal framework
 Salespeople should behave ethically
TOPIC 4: EVALUATION AND CONTROL
STUDY UNIT 10: Evaluating sales force performance
▪
▪
▪
▪
Key to ensure that sales team is ready to deliver maximum performance and results
Determine strengths and area for improvement
Determine is business goals are met
Continuous monitoring
10.1. What is Sales force performance appraisal?
❖ Systematic process if measuring salesperson performance with set standards and providing feedback and
foster teamwork
❖ Part of performance management
❖ Emphasizes communication and adding value
10.2. Purpose of performance evaluation
▪
▪
▪
▪
▪
▪
▪
▪
▪
Uncover deviations
Identify causes of deviations
Determine the training and development needs
Identify which sales people should be promoted or terminated
Enable salespeople to understand their individual contribution
Let’s them know what is expected
Motivate sales people
Help sales people work towards their career goals
Establishing recruiting criteria
Performance problems:
1. Define expectations
2. Identify causes
a. Lack of skill
b. Lack of motivation
c. Lack of respect for rules
d. Personal problems
3. Select corrective action
10.3. Performance evaluation process
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
Step 7
Review job description
Establish basic policies and sales goals and objectives
Determine performance evaluation standards and criteria
Agree on individual performance standards
Compare performance to standards
Discuss results with salespeople including variations and improvements
Take corrective action if necessary
10.4. Performance evaluation methods
Should adhere to the following criteria:
▪ Reliable
▪ Job related
▪ Valid
▪ Standardized
▪ Comparability
▪ Discriminability
▪
▪
Usefulness
practical
10.4.1. 360-degree performance appraisal
➢
➢
➢
➢
➢
➢
8 to 12 people provide anonymous feedback
Salespeople strengths and weaknesses
Measures behaviour and competencies
Provides feedback on others perception
Address skills
Focus on subjective areas
10.4.2. Behaviourally anchored rating scales (BARS)
5 step approaches
1. Generate critical activities list
2. Refine into categories
3. Assign activities
4. Rates accuracy of behaviour described
5. Set behavioural dimensions
10.4.3. Management by objectives (MBO)
Set jointly agreed upon, well-define and measurable objectives
1. Control activities
2. Evaluate
3. Principles
a. open door
b. mutual participation
c. agreement
d. integration of goals
e. rewarding performance
10.4.4. Graphic rating scale/check list method
1. Graphic rating scale/checklist method
a. Likert scale
2. Comparison between salespeople
a. Force ranking
b. Based on specific performance characteristics
10.5. Common performance evaluation errors
▪
▪
▪
▪
▪
Interpersonal bias
o More favorable preference to some
Halo effect
o When rated high in all areas because of over performance in another area
Harshness or leniency
o When everyone is brushed with the same comb
Central tendency
o Rating everyone average
Outcome bias
o When an event influences the managers rating
For a manager to remain bias they should:
✓ Each trait must be carefully read before answering
✓ Factors should not influence each other
✓ Ratings should be based on actual performance and not on potential
✓ Salespeople should be rated objectively and without bias
✓ Salesperson should be evaluated on performance over a period of time
✓ Reasons should be listed for ratings on all appraisals.
10.6. Providing feedback in sales force performance evaluation
10.6.1. Before the interview
•
The sales manager must:
o Have frequent discussion with the sales force about their performance
o Undergo training in conducting performance appraisals
o Seek solutions to performance difficulties
o Motivate the sales force to be prepared for the interview
10.6.2. During the interview
•
Consider the following aspects
o Interviewed individually
o Positive suggestions need to be
made
o Motivate
o Evaluate
o
o
o
o
Be clear
Listen
Set agreed on goals
Provide constructive criticism
o
o
Ensure sales team perform
Be proactive by identifying situations
10.6.3. After the interview
•
The sales manager must:
o Constantly communicate
o Intermittently evaluate progress
10.7. Managerial ethics in performance appraisals.
✓
✓
✓
✓
✓
Consistent, reliable and valid information
Standardised
Viable and economical
Labour relations
Fair
✓ Trained
✓ Continuous, honest and open two-way
communication
✓ Accessibility
TOPIC 5: SALES PROMOTION AND METRICS
STUDY UNIT 11: Sales Promotion
11.1. Types of sales promotion
• Part of marketing/promotion mix
• Short term = drive sales
• Long term = repurchase, brand preference
• Customer and salesforce effect
11.1.1. Consumer-oriented sales promotions
Most well-known types are:
▪ Sampling
▪ Coupons
▪ Price reduction
▪ Checkout promotions
▪ Coupon booklets
▪ Contest/lucky draws
▪ Kids eat free specials
▪ Loyalty/rewards
▪
▪
▪
▪
▪
▪
Mobile couponing
Money off deals
Online couponing
Online interactive promoting games
Price on pack deals
Rebates
Characteristics of a successful consumer orientated sales promotion:
▪ Creating a value-for-money perception
o Discount coupon
▪ Increased (real) value)
o 1kg at the price of 750g.
▪ Creating an association
o With another brand. – linked donations.
o Buy a rhino toy and we give money to the rhino foundation
▪ Creating engagement
o PnP stickie’s.
▪ Generating an immediate consumer buying decision
o Limiting time periods.
11.1.2. Trade-orientated sales promotion
Most common types:
• dealer loader/ incentive
o an incentive given to get the buyer to buy more than usual
• point-of-purchase displays
o impulse buying
• push money/ spiffs
o extra commission paid to retail employees to push a product
• trade allowances
o short term incentives offered to induce a retailer to stock up on a product
• trade contests
o reward retail branches who sell the most of a product
• trade discounts/ functional discounts
o payments to distributes to performed some function such as delivery to smaller centers.
• training programmes
o dealer employee trained in demonstrating the operation of high-tech products.
Objectives
▪ High level of excitement
▪ Get retailers to order and display
▪ Expand distribution
▪ Manipulate levels of inventory
▪ Obtain shelf space
▪ Stimulate in store merchandising
Other promotions designed to appeal to trade partners:
• Advertising support programmed
• Point of purchase displays
• Promotional products
• Push money sales incentives
• Trade shows/exhibitions/ conventions
11.1.3. Sales force sales promotion
✓
✓
✓
✓
Directed at the sales people in the organisation.
Motivate sales.
Intended to stimulate activities that lead to meeting promotional objectives
Preparation is required
11.2. Sales promotion from a distribution channel perspective
Major channels for consumer goods
➢ B2C
o Producer – consumer
o Manufacturer – retailer – consumer
o Manufacturer – wholesaler – retailer
– consumer
o Channel agents
➢ B2B
o
o
Direct channel
Manufacturer – wholesaler –
organizational user
11.3. Push and pull promotions in the distribution channel
PUSH= marketers are attempting to push products through he distribution channel towards end-consumers.
PULL= marketers to spend a lot on advertising to make brands a household name.
❖ Push
o
o
o
o
o
o
o
Create consumer demand
Make customer aware
Common tactics
Show rooms
Negotiating with retailers
Point of sales displays
Examples of push strategies
▪ trade show promotions to encourage retailer demand
▪ direct selling to customers in showrooms or face to face
▪ negotiation with retailers to stock your product
▪ an efficient supply chain that allows retailers to provide an efficient supply
▪ packaging design to encourage purchase
▪ point-of-sale displays
❖ Pull
o
o
o
o
Spend a lot of advertising
Get consumer to come to you
Tactic: mass media promotion
Examples of pull strategies are
▪ advertising and mass media promotion
▪ word-of-mouth referrals
▪ customer relationship management
▪ sales promotions and discounts
11.4. Managing sales promotion through the product life cycle
11.4.1. Introduction stage
This stage is associated with products that are new to the market.
Products in this stage needs to be promoted in order to create awareness among consumers.
Characteristics
❖ Small or no market
❖ Limited competition
❖ High costs
❖ High price
❖ Little or no profit
Sales promotion approaches at this stage
✓ Build demand
✓ Trade orientate sales promotion
Benefits at this stage:
✓ Push pull strategy
✓ Achieve sustainable sale
Type of promotional activity
Possible benefit
Money back guarantee
Warranties
Competitions promotion and sweepstake
Customer service
Trade in campaigns
Improves confidence.
Reduced risk of purchasing
Creates awareness and interest
More support during launch
Trade the old good for a new good
11.4.2. Growth stage
During the growth stage, more and more consumers become aware of the benefits of a specific product, which
leads to growth in sales.
Characteristics
❖ increasing competition
❖ lower prices x reduced costs
❖ greater consumer awareness
❖ increase in profits
Sales promotion approaches at this stage
✓ Price reduction
✓ Extended promotional activities
Benefits at this stage:
Type of promotional activity
Possible benefit
Rebate or cash-back
Tell a friend
Premiums or gifts with purchase
Online or email surveys
Consumer loyalty programmes
Rewards for repeat purchases
Rewards for customers who promote
Value added produced
Helps identify problems
Helps with customer relationships
11.4.3. Maturity stage
The maturity stage indicates that products are well established and this stage encompasses more promotions and
incentives to consumers,
Characteristics
❖ Sales volume peak
❖ Decrease in market share
❖ Profits start to decrease
❖ Continued reduction in costs
❖ Differentiation opportunities
❖ Innovation
Sales promotion approaches at this stage
✓ Innovative campaigns
✓ Emphasis on leader
✓ First to implement
Type of promotional activity
Possible benefit
Rebates and cash back
Consumer loyalty programmes
Increase sales and maintain price point
Consumers rewarded for repeat business.
11.4.4. Decline stage
A product will reach the decline stage once the market for that product is saturated. All marketing efforts decline,
but loyal customers will still buy the product; however, no new customers will be attracted.
Characteristics
❖ Market declining
❖ Falling sales and profits
❖ Product withdrawal
❖ Cheaper production
❖ Cheaper markets
Sales promotion approaches at this phase
✓ Consumer and trade promotions
✓ New markets
Benefits at the decline stage:
Type of promotional activity
Possible benefit
Rebates and cash back
Consumer loyalty programmes
Premium or gift
Competitions and sweepstakes
Increase sales and maintain price point
Consumers rewarded for repeat business.
Providing gifts for free can increase sales
Maintain awareness of product.
STUDY UNIT 12: Sales metrics
12.1. The definition of metrics
Defined: quantitative measure used for assessing, controlling or decision-making in all activities of a business
venture.
Marketing performance measurement and management
Focusing on aligning marketing activities, strategies and metrics with business goals
❖ Standard measures to determine successfulness or effectiveness of marketing activities
o Return on sales, gross profit, marketing cost per unit, market growth, market penetration, churn
rates, cost per lead, cost per sales call, break even analysis, return on customer, lifetime value of
customer
12.2. The benefits of marketing metrics
✓
✓
✓
✓
✓
✓
✓
✓
✓
Understand payoffs from multi-period marketing investments
Highlight benefits of market based, off-balance sheet assets
Future potential
Appreciate linkages
Justify sales campaign
Aid in managing sales
More accountability and visibility
Better understand and explain what businesses are doing
Improve performance
12.3. The range of marketing metrics
➢ Qualitative
o Opinions
o Feelings
o Intuition
o Experience
➢ Quantitative
o financial metrics
▪ profit and net present value
o general marketing metrics
▪ market growth, market penetration
o customer-related metrics
▪ customer retention cost, lifetime value
o brand metrics
▪ brand value and brand equity
o sales and sales force metrics
▪ conversation rate, average sales
o advertising and promotion metrics
▪ reach, frequency, response rate
o price and pricing metrics
▪ cost, profit, margins, breakeven analysis
o channel metrics
▪ channel cost, channel coverage
o competitive metrics
▪ price, product performance, cost of purchase
o online metrics
▪ World Wide Web
o revenue product metrics
▪ cost, product performance
12.4. The reasons why sales have to be measured.
Determine how successful a business’s sales activities have been
• Cost effectiveness
• Relative effectiveness
➢ Sales metrics
• Sales quota
• Sales close percentage
• Scoring of industrial customers
• Sales expenses
• Sales close rate
• Sales totals
• Sales lost
• Training impact
• Cross sell rate
• Number of sales calls
• Number of new customs
• Sales revenue
• Gross profit
• Net profit
• Net profit margin
• Mark-up
• Unit margin
• Margin percentage
• Total margin
• Number of customers
• Cost per lead
• Conversion rate
• Regency
• Retention rate
• Churn rate
• Customer acquisition cost (CAC)
• Customer lifetime value (CLV)
• Average unit price
• Contribution margin unit
• Unit break even sales level
• Target volume
• Target revenue
• Average number of purchase per period
• Average spends per purchase
• Average number of purchase per period per customer
• Customer satisfaction
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