Assignment:
Part 1:
Professional account managers (a.k.a. professional sales representatives) are often given accounts that have been previously managed by others. This occurs for reasons such as a colleague leaving the firm, promotion to a management position, territory realignments, and even a miss-match of communication styles between the buyer and the original sales representative. The first part of our project involves territory realignment for NewNet Systems, a Value-Added Reseller that provides B2B network products and services.
To begin, read the company details in Appendix 2 of your textbook. Following are the sections you should read carefully.
• Introduction to Multiple Account Management Selling
• Introduction to Your New Employer - NewNet Systems
• Introduction to Your New Account Management Position
• Introduction to Your NewNet Systems Account Reports (Contact Screenshots from the CRM Program)
After reviewing and understanding the scenario of your new position at NewNet Systems, go to Chapter 9 in your textbook. At the end of the chapter, you will find the details specific to this part of the Course Project. Read the Chapter 9 details, titled Developing and Qualifying the Account Database carefully.
Assignment Questions
Question 1. Use the 20 new account CRM Contact Screenshots found in Appendix 2 to complete the metrics report (table) for your meeting with your manager Casey. The report should contain the following headings.
o Anticipated Close Date
o Account Name
oContact Name
o Communication Style
o Stage of the Selling Process
o Anticipated Dollar Amount
o Likelihood to Close
o Forecast Sales (Anticipated Dollar Amount X Likelihood to Close)
Question 2. Using your metric report and the details in each case notes section, prepare a written report for Casey regarding your analysis of the accounts.
1.) Which contact(s) do you think you should ignore for now? Justify this recommendation.
2.) Select accounts that you feel you need to focus on immediately. Justify why you selected these accounts.
3.) How many accounts do you have at each stage of the selling process? (i.e., how many at prospecting, rapport, needs discovery, presentation, closed, etc.) Based on the number of accounts in each stage, and the amount of time spent on each account, how would you assess the effectiveness and efficiency of the previous representative's account flow management (a.k.a. pipeline management)?
4.) Which account(s) appear to have some legal or ethical issues to consider further? Describe what these issues might be.
5.) From an overall perspective, what was the previous sales representative's primary sales approach? In what ways does the previous sales representative appear to have been very successful with the accounts? What ways do you think the previous sales representative could have improved upon the effectiveness or efficiency of her pipeline management?
Part 2:
Developing and Qualifying the Account Database
Introducing Your New Regional Account Management (RAM) Sales Responsibilities. Casey Arnold has hired you as a regional account manager to sell for NewNet beginning December 1. Casey has given you the customer files of Lee Bizon, the former account manager who has just been promoted to another NewNet territory. Lee projected the possibility of over $1.8 million in sales for your new territory, with the actual forecast reduced by the likelihood of closing each account. Your responsibilities include carefully studying the Contact Screens and analyzing where each customer is in the NewNet sales/buying process. The steps include Qualifying, Needs Analysis, Presenting, Demonstrating; Negotiating; Closing; and Servicing the Sale. Lee has indicated the last step each of your accounts has completed in the sales process. Additional information to analyze on each contact screen includes: projected date to close, likelihood of closing, size of forecasted sale-in addition to other contact information presented.
The Notes Screens includes notes Lee prepared after making a sales call. You should analyze this information carefully and become very familiar with it. In this process, you will discover you are working with large purchases significantly impacting your customer's business. Lee has worked with teams of high-level personnel on the customer/buying side of the sale, as well as sales support team members from NewNet. In the Notes Screens, you will learn about the outstanding technical sales support team members you will have working with you on the technical side of your work with your accounts.
Your clients have been notified that Lee is leaving and a new regional account manager, you, will be contacting them. The following exercises in this chapter and at the end of Chapters 10-15 simulate this important activity by requesting that you extract, from an existing database, the information needed to take effective strategic sales action. You will find a printout of all your accounts. Casey has asked you to review the status of your 20 accounts including where they are in the sales cycle, and what is the next strategic action you will have to take to move the sale process forward and close the forecasted sales.
You are to meet with Casey next Monday and to be prepared to answer the following questions. The questions below relate to the account development concepts presented in this chapter. Additional questions will appear at the end of the next five chapters. They will relate to the selling and account management concepts presented in each of those chapters. The questions in this REGIONAL ACCOUNT MANAGEMENT Case Study relate to successfully moving your accounts through the stages in the sales process. Answering these questions all relate to the sales process, and do not require you to have technical networking product knowledge. Your technical sales support team members, Camila, Joe, and Charlene, will be working on the technical side of the sales process. It will be your responsibility to bring them into the sales process at the appropriate time to meet and exceed the needs of your accounts.
Questions 1: Using the following headings, prepare a regional account metrics report for your meeting on the current status of your 20 new accounts found in an appendix. Keep a copy for future reference.
Newnet Systems Account Management
Name Regional Accounts Manager, NEWNET SYSTEMS
Date Account Name Dollar
Close Contact Name Sales Amt.
Question 2: Which contact can you ignore immediately for making a potential purchase?
Question 3: Referring only to the date close category in the contact screens, which four accounts would you contact immediately?
Question 4: Referring only to the dollar amount of sales forecasted category in the contact screens, which four accounts would you call first? Does the likelihood of closing percentage category have any influence on decisions concerning which accounts to call first? Why? Total the dollar amount of sales for each account and record the total projected sales.
Question 5: According to information in the notes screens, which account development method did Lee Bizon appear to use the most? Give examples.
Question6: Identify any accounts where there may be ethical or legal issues to be considered. Describe what these issues may be.
MyMarketingLab
Go to mymktlab.com for Auto-graded writing questions as well as the following Assisted-graded writing questions:
Question 7: During periods of economic uncertainty, the decision-making process often moves upward. What basic tips would you give a salesperson who is calling on senior executives?
Question 8: Discuss how direct-response advertising and sales letters can be used to identify prospects.
Mymktlab Only - comprehensive writing assignment for this chapter.
PART 4 ROLE-PLAY EXERCISE
Developing a Customer Strategy
Scenario
You are a sales representative employed by the Park Shores Resort and Convention Center. One of your primary responsibilities is to identify prospects and make sales calls that result in the development of new accounts. During each of these calls, you plan to build a relationship with the customer and describe selected value-added guest services and amenities offered by the Park Shores. You also try to learn as much as possible about the customer's buying process.
Customer Profile
Shannon Fordham is the founder and chief executive officer of USA Technologies, a growing, high-tech firm with more than 300 employees. The company manufactures and sells security systems that can be used in residential homes, retail stores, and other commercial buildings. According to a recent article in the Wall Street Journal, USA Technologies is poised to grow very rapidly in the next year. The article described Shannon Fordham as a workaholic who usually puts in an 80-hour workweek. Delegation does not come easy to this personable, hard-charging entrepreneur.
Salesperson Profile
You have just completed the Park Shores sales training program and now want to develop some new accounts. In addition to taking care of established customers, you plan to call on at least four new prospects every week.
Product
Park Shores International is a full-service hotel and convention center located in Mission Beach, California. The hotel recently completed a $4.8 million renovation of its meeting and banquet rooms.
Instructions
For this role-play activity, you will meet with Shannon Fordham, who appears to be a good prospect. During the first sales call, plan to learn more about the prospect as an individual and acquire more information about USA Technologies. This meeting will provide you with the opportunity to begin building a long-term partnership.
During the first meeting with a prospect, you like to present a limited amount of important product information. In this case, the length of the appointment is 15 minutes, so you should not try to cover too much information. This memo describes the value-added guest services and amenities offered by the Park Inn. For the purpose of this role-play, Shannon Fordham should be considered a consultative process buyer. You can assume that the prospect will need help identifying and evaluating possible solutions. As you prepare for the first call, think about what may take place during future calls. Review the steps in the typical buying process. Keep in mind that today's more demanding customers are seeking a cluster of satisfactions. Study the Product-Selling Model prior to meeting with the prospect.
Your request for referrals is more likely to receive a positive response if made after you have built a strong trusting relationship. In most cases, referral leads result in higher close rates, larger sales, and shorter sales cycles.
Here enclosed is the appendix related to the above topics:
Attachment:- Appendix.rar