Manufacturing

How will your manufacturing sales perform in 2020?

While the currency markets have stabilised in the later part of 2019 global manufacturing continues to be an ever-changing environment with volatile costs in the supply chain. The powerhouse of Chinese manufacturing is being challenged by even lower cost centers of emerging markets like Cambodia and Myanmar and local manufacturing in Europe and the United States are being confronted with Corporate Social Responsibilities (CSR) policies like never before. For manufactures to succeed in sales, the features and benefits of a product need to be customised to the individual organisation or consumer.

Slow Growth

Sales growth can slow for numerous reasons, market maturity, product life cycle, seasonality but whatever the reason it is important that it is understood from the outset what is happening in the marketplace. Manufactures that are market led to carry stock supported finished goods or warehouses with additional raw material stock holding can see their years profitability wiped out on a down-turn in the market.

Stephen McCombs sales training shows you the system to convey market intelligence to Manufacturing and Operations, allowing for quick reaction to customer change and rival tactics. We look at the overall sales performance analysing at what stage prospects are coming into the sales funnel and at what point they are not converting. We give you the tools to help improve prospect conversion while creating a world-class customer buying experience.

Selling to Procurement

The buzzwords Stephen McComb often hears is you must stop selling and ask great questions but asking questions to a professional buyer who you have never met, and your organisation has no past trading history will normally be blocked. Salespeople don’t have the right to ask, what is your biggest problem without establishing trust first.

 

Demonstrating that you have both your product knowledge, industry know-how and that you are truly interested in solving their problems will set you apart from most of your competitors.

Customer Loyalty and Retention

Building loyal customer is an integral part of any business, customers who repeatedly purchase, that are unofficial brand ambassadors and will promote your product to others in their cycle without being prompt. Understanding what it is that makes them loyal, is vitally important, can you model and recreate it, can you give the customer more of what keeps them loyal? Mixing in anyway with what makes a customer loyal must be done very carefully and always in consultation with the customer.

We all know that retaining customers is more cost effective than acquiring new clients, but some companies take that a bit too literally. Choosing to retain a customer must be part of your decision as a supplier, does the customer align to your company vision and values? Is the customer resource intensive, that’s acceptable if you factored that into the price but if you haven’t the longer it goes on it will stunt your growth and service to other clients

Leverage Technology

When Stephen McComb asks the question how do you leverage technology in winning more sales most salespeople say having a informative website or memorable presentations but being able to leverage technology goes much further. Being able to map where prospects come from when they land on your website, what pages they visit and for how long and where do they exit are all simple sources of information that can be obtained. Being able though to data capture a prospects details in a newsletter or downloadable brochure are critical to drive sales.

Leverage goes further by using application such as Grammarly to improve spelling and grammar mistakes. Salesloft is software to help shorten sales cycles and dealing with bulk volumes of data. It can be set to auto dial phone numbers and email templates all to increase productivity. CRM software, there are so many packages available from Salesforce to HubSpot it really comes down to the individual companies need. LinkedIn Sales Navigator while it is the paid version the insight it can provide on both a company and individual allows you to reach out quicker to the right person.

Brand Strategy

Building loyal customer is an integral part of any business, customers who repeatedly purchase, that are unofficial brand ambassadors and will promote your product to others in their cycle without being prompt. Understanding what it is that makes them loyal, is vitally important, can you model and recreate it, can you give the customer more of what keeps them loyal? Mixing in anyway with what makes a customer loyal must be done very carefully and always in consultation with the customer.

We all know that retaining customers is more cost effective than acquiring new clients, but some companies take that a bit too literally. Choosing to retain a customer must be part of your decision as a supplier, does the customer align to your company vision and values? Is the customer resource intensive, that’s acceptable if you factored that into the price but if you haven’t the longer it goes on it will stunt your growth and service to other clients

Channel Strategy

Too often leaders don’t want to change the sales channel as they have accepted the current system delivers a given amount of revenue so using the adage, if it’s not broken don’t try to fix it. The problem is the traditional sales mindset is being overtaken in numerous sectors with smart technology.

Understand how you customers and prospects want to buy, their likes and dislikes and what would incentives them to move to a digital platform to place orders or to work with an inside sales team as opposed to a field sales representative. Product differentiation matters but in today's digitised business how you engage and retain customers in each channel is critical to survival but can also translate into increased profits by focusing on the most profitable channels

Price Strategy

Maximise your overall profit while increasing products or service margin along with your market sector share. Whether stage your product or service is at in the life cycle getting the price right is one of the most critical commercial decisions for a business. Stephen teaches in his sales training that there is never a bottom price especially when multiple products or services are combined in a contract. Achieving increased margins means leveraging your value proposition, working with customers who you can add value to and in turn they can help grow your revenue. Develop your optimal pricing framework and sales incentives, learn how to gain customer that goes beyond price objection. Analyse market conditions and the competitor offering.

Achieve Commercial Excellence

Often businesses become stagnated in growth, caught up with maintaining market share and defending often single digit margins in mature or competitive markets. As businesses grow it is easy to attract the wrong client and then by default margins are squeezed and resources stretched to service the account. Stephen takes you on a step by step process to identify your target customer and what your value proposition is to them, differentiating yourself from rivals or would be up-starts. Taking the strategic decision to incrementally grow market share in a mature market or even compete in a competitive category, sector or geographical location is modelled to be help you understand how to best place your resources. By focusing on the ideal customer and nurturing them for growth can yield greater financial rewards that competing to win a client who you are not positioned to best serve.

Customer Targeting and Value Proposition

You may know the leading buyers in your market segment you might even be a supplier to some of them. Defining who those companies are and what value proposition you can bring to them is crucial if you want to grow your business.

Often business leaders will look at it as a one size fits all approach for the sector, prospects and customers when their needs are different. Stephen in his sales training strips back the customer wish list and takes an honest look at what it takes to become a supplier to some of the leading organisations of the world. You may not have the infrastructure or finances to service one of those multinationals but Stephen helps you identify where your niche is in the supply chain and how strategically you can become a second or third tier supplier who is gaining knowledge of what its like to be a part of the wider supply chain.

Using advanced internet searches Stephen can show you how to extract market data on your sector to analyse the size of a geographical area for your offering or the sales data of competitors products.

Aftermarket Strategy and Price Planning

Developing an aftermarket service strategy has changed dramatically in the last number of years with leasing or subscription models taking dominance over conventional Hire Purchase or outright ownership. From commercial vehicles, medical and laboratory equipment, Restaurant and hospitality equipment, Construction machinery, IT Servers, Municipal procurement and manufacturing and industrial plant equipment each business in their respected sector wants to increase their aftermarket products, services and maintenance.

Predicting demand on non-life expiry spare parts can be complex and is something that is made more difficult with long intervals between purchasing. Stephen will help you assess which model is best to support the aftermarket care, appointing agents, country distributors, dealers and how to which price models to use based on the finance model.

Customer Experience

Leading organisations of the world place the customer experience before the product or service they offer. We have all probably witnessed the social media outburst of dissatisfied customers with queues of people and no business representative their to assist. The damage social media can do to a brand can be instant and unforgiving.

As products and services become more commoditised businesses need additional ways to differentiate themselves from rivals. As opposed to considering the buyers journey in its totality there are numerous touchpoints of engagement along the way that make up the customer experience. Designing the customer experience or CX requires reshaping of how your business interacts with prospects, changing a call centre to stay on the phone or messaging service until the prospect has had all their answers fulfilled can create a better customer experience but not having enough inside sales people to meet the demand will increase wait time and prospect dropout rate or customer dissatisfaction.

Learn and model what leading organisations are doing to increase their customers experience and how you can implement that process into your organisation.

Sales Innovation

Conventional sales models designed a decade ago are still being used my many businesses today with the logical thinking that they strategy is delivering results, it can be measured and understood so there is no need to redevelop the sales model. However, over the last decade the rise and dominance and now dependency of digital platforms such as Salesforce.com, Amazon Web Server, Monday.com and Workday have disrupted the sales cycle by reinventing how both consumers and businesses buy.

Field sales reps are being changed over to inside sales using technologies to autodial and map emails with templates or webchat with predictive text all of which allows the salesperson to be more effective and reach more potential clients while reducing the acquisition costs of new prospects. Customers are offered packaged solutions and can choose the level of service and support they require. Subscription models have now surpassed the SaaS industry and are in areas such as car usage or photocopiers. To understand the impact of what technology is doing in your industries and to your business join Stephen McComb in his sales training where he will help you develop your next winning sales model.

Sales Transformation

Every business knows that survival comes down to being profitable and achieving sales and although companies may have established and stabilised themselves financially the sales environment around them is in constant change. How customers engage and buy has changed with McKinsey reporting that over 70% of the buyers journey being completed before they engage with a seller or in many cases as it is seen today a buyer has no interaction with an actual human but completes a buying transaction ranging from ordering food on an app to large scale procurement on  digital platform.

Today businesses and salespeople need to have a data-driven selling approach, using marketing analytics, mapping the buyer’s journey and understanding what level of information a prospect needs to make a decision. Knowing what information, a prospect is accessing on your website is critical, how did they arrive there, what information was accessed and for how long, being GDPR compliant in Europe was any tangible information captured to follow-up with further information. Changing your Go-to-Market. The trend since 2014 for large organisations is to assign from the outset the Long Term Value (LTV) and Customer Acquisition Cost (CAC) of prospects and customers, with low value customers being assigned inside sales support over field sales which reduces operation costs for servicing the client while allowing the salesperson to be more efficient in serving more clients.

End to End Customer Journey

To understand the buyers, journey a business needs to reshape its internal thinking of how it views the customer. Stephen McComb in his sales training workshops helps your salespeople to understand.

Place the customer at the centre of your business: It is not about your organisation needs but rather of how you can help the customer get theirs.

What is the customers perspective: What benefits does the customer truly need and how can the features of your product or service give them what they need? Just because a customer may say they feel they want something by asking great questions a professional salesperson should be able to recommend the best option for them, without placing price anywhere in the conversation.

Silo Mentality: Traditional working silos of not sharing information or collaborating need to be replaced with systems of sharing data, trends, competitor offerings.

Infinite: Working to achieve a sales target, growth rate is a milestone that when reached is reset, working though with the infinite mindset that you want to create meaningful results for clients will in turn grow your sales.

Sales Success Secrets

Stephen McComb has extensive international sales experience working with multinational blue-chip organisations for over 20 years. Through our inspiring sales training courses, we help our clients sales team transition from a sales trainee through to tomorrows leader. Knowing that each sector is different while each business has its own unique needs, Stephen McComb will give you the strategies, systems and processes to create lasting profitable clients.

Programs

We help companies and individual salespeople understand that to succeed in business they must play the infinite game and not the finite game of merely making a sale, but rather they must make a client, an advocate who is willing to promote your offering to others without being prompted.

 

Stephen McComb challenges conventional B2C of sales by demonstrating that a social influencer can stand in front of a mobile phone and attract millions of social media hits, engagements and convert those interactions into actual sales. A recent McKinsey report showed that 74% of the buyer's journey was complete before they engaged with a salesperson such is the level of information available on the internet.    

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© 2020 Stephen McComb