Summary
Summary Sales
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This is a summary for the book business-to-business sales by John Coe.
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Questions1. What is up-selling?
- Selling more products or services to the customer. These products or services are
either the same or closely related to each other and do not represent a new category
of purchase.
2. What is the challenge of cross selling?
- Cross-selling is the process of encouraging customers to purchase products or
services in addition to the original items they intended to purchase.
- All customers should be viewed as prospects, do not assume that they will buy new
products or services just because they buy something else from the company.
Creating customer loyalty is key.
3. What is deep-selling?
- Deep selling is an alternative approach focused on discovering the
needs and circumstances of individual consumers, educating them
about alternatives and making recommendations to improve their
financial well-being.
4. What is a lead?
- Someone who represents a company that can buy your product or service and is
serious about doing so.
5. What is customer awareness?
- Customer Awareness refers to the degree your potential customer is aware of
their problems, pain points, possible solutions, your product, and how you can
solve their problems.
6. What are the three stages of Treacy and Wiersma?
- Operational excellence
- Customer intimacy
- Product leadership
7. 3 main categories of the sales process?
- Market analysis: the activities concerning market research and analysis.
-
Lead generation: the activities undertaken to reach potential customers.
-
Funnel management: the activities performed to convert potential customers to
actual customers.
8. Sales cycle
- Suspect
- Inquiry
- Lead
- Proposal/quote
- First purchase
- Repeat or good customer
- Past customer
, 9. What is the abbreviation for:
- KPI → Key Performance Indicator
- DMU → Decision Making Unit
- SMART → Specific, Measurable, Achievable, Relevant, Time
- STP → Segmentation, Targeting, Positioning
- AIDA → Attention, Interest, Desire, Action
- YOP → Yourself, Organization, Product
- USP → Unique, Selling, Point
- UBR→ Unique, Buying, Reason
- CRM → Customer, Relationship, Management
- OTE → On, Target, Earnings
- NPS→ Net Promoter Score
- PSU→ Problem Solving Unit
10. What are the main reasons that customers do not want sales people?
- At large companies where contracts are negotiated and complex servicing is
required, a salesperson still has value
11. What are the two fundamental selection criteria for profiling?
- Industry type
- Company size
12. What are the four phases of the customer life cycle?
- Customer acquisition
- Customer growth/retention
- Customer loyalty
- Customer reactivation
13. The main reason a customer stops buying?
- Because they do not feel loved anymore
- First time customers- Customers from their viewpoint are trying you out to see if they
want to continue to purchase. This is especially true with products with low added
value.
14. Average decrease of customer base a year?
- 10-25%
15. What are three categories of competition?
- Direct
- Indirect
- Technology
16. What is the main goal of the new sales model?
- focus on direct marketing and the goal is to build customer relationships that go
beyond the salesperson
17. Relationship between sales and marketing?
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