relationship selling ppt

14
Introduction to Introduction to Relationship Relationship Selling Selling Divyanth Divyanth Bhavana Bhavana Himavan Himavan Zubair Zubair Sri Krishna Sri Krishna 1-1

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Page 1: Relationship Selling Ppt

Introduction to Introduction to Relationship SellingRelationship Selling

DivyanthDivyanthBhavanaBhavanaHimavanHimavan

ZubairZubairSri KrishnaSri Krishna

1-1

Page 2: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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Learning Objectives

• Identify and define the concept of relationship selling

• Understand the importance of a customer-centric organization

• Explain why value is a central theme in relationship selling

• Identify the processes involved in relationship selling

• Identify the elements in managing relationship selling

• Discuss and give examples of the elements of the external and internal environment for relationship selling

Page 3: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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A Model for Relationship Selling and Sales Management - Overview

• Are customer-centric

• Are highly customer-oriented

• Exhibit a customer mindset

Firms successful at relationship selling and sales management:

Page 4: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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Customer Orientation

• Focus on understanding customers’ requirements

• Generate an organization-wide understanding of the marketplace

• Respond effectively with innovative products and services

Firms that have a high level of customer orientation:

Page 5: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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A Model for Relationship Selling and Sales Management - The Customer

• The customer is at the center of the model

• Return on customer investment

• Lifetime value of a customer

Page 6: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

McGraw-Hill/Irwin © 2005 The McGraw-Hill Companies, Inc. All rights reserved.

INNOVATION

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1.1

1. Doing it your way, not the customer’s way

2. Focusing on your objectives, not the customer’s

3. Pushing for a client meeting as though it is the end game

4. Pushing the customer

5. Failing to listen

Source: John R. Graham, “Think Like a Customer – Or Lose the Sale, “American Salesman (January 2002), p.3.

Want to Think Like a Customer? Mistakes to Avoid Always

Page 7: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

McGraw-Hill/Irwin © 2005 The McGraw-Hill Companies, Inc. All rights reserved.

INNOVATION

1-7

1.1

• Making the sale the goal

• Giving too many or too few options

• Writing off the customer too soon

Source: John R. Graham, “Think Like a Customer – Or Lose the Sale, “American Salesman (January 2002), p.3.

Want to Think Like a Customer? Mistakes to Avoid Always

Page 8: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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A Model for Relationship Selling and Sales Management – Value Creation

• Value is the bundle of benefits the customer derives from a purchase

• Give-get ratio

• Value creation - adding value for a customer beyond an isolated transaction

Page 9: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

EXHIBIT

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Time Investment in Each Stage of the Sale1.3

Traditional selling

Value-added sellingDeveloping an understanding

of the buyer’s needs

Closing the sale

Presenting your solution

Page 10: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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A Model for Relationship Selling and Sales Management – Relationship Selling

Process elements of relationship selling:

• Using information

• Communicating the sales message

• Negotiating for win-win solutions

• Closing the sale and follow-up

• Self-management

Page 11: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

McGraw-Hill/Irwin © 2005 The McGraw-Hill Companies, Inc. All rights reserved.

INNOVATION

1-11

1.3

• Attrition for first-year accounts is more than twice that of long term accounts due to:• Early problems that sour the relationship• No formal servicing system• Communication breakdowns

• Avoid the early break-up by:• Saying thank-you• Seeking feedback early• Responding quickly

Source: Erin Strout and Michael Weinreb, “Please Come Again,” Sales and Marketing Management (February 2003), pp. 47-48.

The Importance of Follow-up

Page 12: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

EXHIBIT

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The Firm

Components of the Internal Environment1.4

The Custome

r

Goals, objectives, culture

Goals, objectives, culture

PersonnelPersonnel

Financial resourcesFinancial resources

Production and supply-chain capabilities

Production and supply-chain capabilities

R&D and technological capabilities

R&D and technological capabilities

Service capabilitiesService capabilities

Page 13: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

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Internal Environment

• Places the employee at the center of its business model

• Promotes fun

• Hires people by “tryouts”

• Lends itself to a favorable service culture

Southwest Airlines' corporate environment

Page 14: Relationship Selling Ppt

INTRODUCTION TO RELATIONSHIP SELLING

EXHIBIT

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The Firm

Components of the External Environment1.5

The Custome

r

Legal and politicalLegal and political

TechnologicalTechnological

Social and culturalSocial and cultural

EconomicEconomic

NaturalNatural