An Unimpressive 5 Million Dollars
An Unimpressive 5 Million Dollars
Sometimes, it is not that impressive that someone sold five million dollars worth of their product. To small and mid-size businesses, this concept seems a little nuts. However, when you look closely at big sellers, companies have to ask who did they work for and how much support was given to them. For instance, if you’re at IBM, people come to you, you don’t prospect. When a company needs training books they go to Amazon just like when a company needs a server, they go to IBM. In this article, I will tell you how to cheaply support your sales team, so that in conjunction with new business prospecting, you will be able to help your sales representative sell. Here are three advertising and marketing techniques that will tell you how.
Marketing and Advertising Technique Number 1:
When it comes to sales representatives who are getting paid $50,000 up to $200,000 (base only), for them to provide an adequate ROI (10 – 20x their total compensation package), they need some help. Cold-calling is effective, but with the invention of the internet, it can only do so much. If you want to get the maximum performance from your sales team, help them. Training a prize sales representative, entails an investment, however it is smaller than you think. There are relatively inexpensive ways to do advertise and market your company. First, take a thousand dollars a month (or whatever your budget may minimum $500) and advertise on Google. Make sure that your advertisement stands out and is really geared towards the people whom you would like to target. Make sure that your advertisement is listed on the top three slots – very important. Otherwise, it will sit on the right hand corner and no one will look at it. There is a way to do this in Google’s system. Ensure that your advertisement is only showed during the business hours which you think people would look for it – there is a way to do this too before and doing so will save you money. When picking out keywords, sit down and ask yourself, “if I was a client, what keywords would I search?” Therein lays the final piece of your online advertising initiative.
Marketing and Advertising Technique Number 2:
The second way to help your sales representatives is to advertise at trade shows. To use a sports reference, this is like passing the ball to your sales representative. If he / she does not come back with any good leads, you know you may have hired a dud. However, a good, charismatic sales representative will be able to turn this opportunity into sales, large sales. The investment for a single trade show is typically $3,000 to $6,000. Therefore, you only have to sell $7,000 worth of your product to the leads you generated to make a “smart investment.” Depending on what your budget is, this may not be such a bad risk to take.
Marketing and Advertising Technique Number 3:
Learn how to differentiate yourself from your customers and convey that to the sales representative. Getting to this point involves some online research and phone calls. If you dig very deeply, you can find out what your competitors charge for a product, what they pitch to their clients, how their product works, the advantages and disadvantages your product has, how to use the aforementioned shortfalls of your product to your advantage, how your competition markets themselves and other information you would find helpful. Knowledgeable sales representatives can make rebuttals and work around any client concern swiftly and effectively. I find that the bigger companies we work with all have their competitors’ information and are able to provide me with their marketing material, thus enabling me to cut out some of the research we do and, which makes the process a little bit quicker. Again, this is another way to test whether your sales representative is a logical thinker – give him/her everything you know about the companies which you compete with and sit down and brain storm together. This could even be done on the interview.