Shahabuddin Khan - 20050 - B2B Marketing Assingment 1

You might also like

Download as pdf or txt
Download as pdf or txt
You are on page 1of 10

2021

B2B Marketing Assignment -1

NAME: SHAHABUDDIN KHAN


ROLL NO: 20050
SECTION: M1
Case 1: Possis machinery invests a significant proportion of
their promotional budget in trade shows. Management,
however, wonders whether they are getting the proper return
on this sizeable investment. Propose a set of guidelines that the
firm might use in designing a more effective trade show
communications strategy and in evaluating trade show
performance.

Solution: A trade show is an event held to bring together


members of a particular industry to display, demonstrate, and
discuss their latest products and services. Tradeshows remain
an important and effective means of reaching your key
customers and finding new ones. Major trade shows usually
take place in convention centres in larger cities and last
several days.

Possis Machinery need to focus on these guideline which


result in more effective strategy that deliver a return on their
investment and can efficiently evaluate trade show
performance.

1. Set Goal

Just like any other marketing campaign, they’ll need to plan


strategy around a key set of goals. Not only will this help to
measure the success of your tradeshow attendance, but
having a clear vision on what you want to achieve will make
sure all staff members are on-board, too.

The most common goal for tradeshow marketing campaigns is


direct sales, but you might also want to improve brand
awareness and boost site traffic, post-event.

To set you they need to follow the SMART goal framework


and double-check that their goals are:
 Specific
 Measurable
 Attainable
 Result-Orientated
 Time-Bound
For example, Instead of setting a goal of “making sales”, there
tradeshow strategy goal could be to make 25 sales of my
product at the event. Because this goal is attainable and easy
to measure, they have a clear target to work towards – and
can make sure my marketing strategy meets this.

2. Finding suitable tradeshow events.

After defining goals, it’s time to find suitable tradeshow


events that you can exhibit in.
There are two types of tradeshows that they should focus on:
 Tradeshows for your industry
 Tradeshows for your ideal audience
They need to go deeper into search, they need to see the
competitors coverage, if they’ve spotted their name in a
previous event, then they need to add in the calendar for
following year. Since there competitors have already been
featured there, there’s a high chances it’s suitable for there
business to exhibit in too.

3. Plan around new launches.

As per research 90-95% of tradeshow attendees think their


main reason for attending tradeshows is to see new product
being features. So, Possis use this as there opportunity to
showcase the new products they have been working for. That
way, they’re exciting attendees with access to your new
range-and not boring the attendees with products they’ve
seen before.

4. Prepare for tradeshow beforehand.

It is well said “Failing to prepare is preparing to fail” it just


not applied to life but it also applied to marketing too.

Therefore, pick the right team (Staff with great communication


and sales skills) and gather the equipment you’ll need
beforehand. That might be:
 Products (for demonstrations)
 Leaflets
 Business cards
 Display boards
They’ll need to make there booth noticeable if they want to
generate any results from your tradeshow attendance.

5. Follow-up
As per research 80% of leads collected at tra deshows receive a
follow up after the tradeshow.

So they need to focus on the people they meet at tradeshows.


These attendees might not have buying authority to purchase
from them on the spot, and some people might need to consult
their team before buying your product.

They could do follow-up by:


 Sending handwritten notes, thanking the attendee for
visiting your booth
 Grabbing the names of people you’ve spoken to and
sending a LinkedIn request (bonus points if you add a
note to your request which names the tradeshow you
met at)
 Emailing the people you met, asking them to jump on a
15-minute call to discuss how your product or service
would benefit them

When it comes to follow-up, options are endless. The only


thing they shouldn’t be doing is sending spa m email or
neglecting a follow-up completely.

2 ) Cassidy Computer Systems has witnessed a gradual


decline in the performance of its sales force since a key sales
manager left the company for another position. While well -
educated and extremely knowledgeable about the computers
that they Using the concepts of sales force motivation, job
satisfaction, and role perceptions, describe why salesperson
performance may have declined at Cassidy. Recommend a
strategy that Cassidy could adopt to improve the
effectiveness and productivity of their sales force.
Question: Describe why salesperson performance may have
declined at Cassidy?

Solution: Any big change in Senior Management can impact


sales result. In this case, due to the change in management,
there is a shift in the relationship dynamic between the
employees and the management which may be able to
understand how the company used to function as a unit before.

Research shows that managers account for as much as 70-80%


of variance in employee engagement scores. And good
relationship between manager and the employee is key to
maintaining a productive and efficiency in salesforce. Manager
and employee relations is an important aspect of day -to-day
business operations.

Employee relationship management describes an organization's


ongoing effort to engage its employees. This strategy helps
maintain open communication in the workplace. Positive
employer-employee relationships in the office encourage
productivity and collaboration among teams which give
motivation to the salesforce.

As it is mentioned in the case that Sales Manager is well-


educated and extremely knowledgeable about the computers
that they Using the concepts of sales force motivation, job
satisfaction, and role perceptions, which is all the good traits
of Sales Management.

Sales Management is the process of developing a sales force,


coordinating sales operations and implementing sales
techniques that allows a business to consistently hit and even
surpass its sales target.
So, when the senior manager leaves the job there relation with
the manager breaks which shows the decline in the sales. As
Ex- manager have all the knowledge about the computer that
they are using, How to motivate the sales force, where they
need motivation, How to make his team satisfy from their job
and know which employee have the best potential and knows
in which he is expert in to get the things done in more effective
and efficiency way. With the job change it all breaks apart and
thus the sales performance decline.

Question: Recommend a strategy that Cassidy could adopt to


improve the effectiveness and productivity of their sales force.

Answer: Strategy that Cassidy could adopt to improve the


effectiveness and productivity of their sales force by SMBO
approach:

Sales management by objective technique (SMBO): It is


combined by sales manager and sales-force (representatives).
It aims to focus on
(i) Results, within a specified set of objectives and
(ii) Participative style of management.

Importance of SMBO: for a business firm is as follows:

(a) Directing the salesman towards the broader sales and


marketing objectives of the Company;

(b) Providing a better approach, from the view-point of the


salesman; and

(c) Motivating the salesman.

And some key tactics New Sales Manager can implement for
improving sales team performance.
1. Take a People-first approach: Improving team sales
performance starts with winning the hearts, minds, and trust of
the people we lead. Meet multiple times with every one on the
team to get a good perspective of their sales skills, strengths,
and weaknesses. Review past performance and results, dig into
their self-assessment of their performance, and give them time
and space to share their experiences with you.

2. Create A safe space for the team: As a sales manager, it is


important to constantly focus on engaging diverse perspectives
and encourage open conversations in a team. Managers are
responsible for creating a safe space in which Sales person feel
comfortable sharing thoughts, concerns, and new ideas with
the group. As a sales manager it’s our responsibility to make
sure everyone's voice is heard in a way that makes them
comfortable.

3. Ensure that team has a set of core values that are agreed
upon by everyone: As sales managers we all have non-
negotiables that we expect from our team, but there needs to
be give and take. An exercise that has been helpful over the
years, is to actually meet as a team and decide on these core
values together. Once this list of core values and norms is built,
it creates a system of accountability that starts with the sales
leader.

4. Analyse relevant team data: It is important to know how


many net new deals that a rep needs to create on a weekly,
monthly and/or quarterly, depending on our business. If our
team knows how many deals they need to be created and a
deadline to do so, the rest falls into place. If a sales
representative is not closing at least 30% of the deals that are
in the decision making stage, it could mean in dication of a
bigger problem.
By closely tracking sales representative performance early on
in the sales process, we can catch and help correct issues that
can have a negative impact on business later on.

5. Have regular one-on-one meetings with each team


member: As a manager, having regular one-on-one meetings
with our team members is an effective way to connect with
our sales team, and to ensure their needs and concerns are
addressed.
Additionally, having one-on-one meetings can help me remind
our team members how important they are to the mission of
your company.

6. Review business results as a team: In this type of


environment, salespeople will become used to seeing their
sales activity and numbers presented in publicly available
channels, and with the right people on board, it should
provide a sense of healthy competition to motivate them."

7. Create a culture of peer-to-peer coaching: As a sales


manager we are only one person and time isn't an abundant
resource. If you have the team structure to support it, pairing
up your sales team of various experience levels can help team
members gain valuable perspective, and it can provide people
development opportunities for those doing the coaching.

8. Don't become self-satisfied: As a sales leader, we should


be staying a step ahead. Keep monitoring the business and
the metrics to avoid surprises that could throw your team off
track.

Additionally, our salesforce who are not meeting their goals


shouldn’t be the sole focus of your attention. Continue
challenging your high-performers and tenured sales person to
keep improving their skills and developing themselves.
Raise the bar and set bigger goals, both at the team and
individual level. our team needs to know you believe in them
and their success.

Thank You.

You might also like