“Hi, I need your help if you could please. This company emailed me the two questions below to answer to be considered as their local rep. How would you answer them?” Thank You – Gene Denton
E-Mail Questions:
1. What would be your sales strategy?
2. What would be your sales forecast, including number of sales and number of mail pieces for 1st Quarter 09, 2nd Quarter 09, 3rd Quarter 09, and 4th Quarter 09?
Territory Facts:
•Target Client/Prospects: 150 Dealers
•100% PURCHASE Direct Mail Monthly
•We have a solution for any need they may have
•Total Estimated Mail Volume is 1.5 million pieces in your Market.
•All Potential Clients are located in a 70 mile radius.
•You have a very Unique Product to offer with a Unique Selling Proposition!
Gene, thank you for sharing. I have not sold direct mail solutions in my career, so my answers will be more generic to building and starting a sales territory. I recommend you enhance my responses with your knowledge of the company and the industry.
1. What would be your sales strategy?
I would start my first year with a 2E sales strategy of Education and Execution.
- Education: I would get educated at multiple levels on the solution including product; services; pricing; sales messaging; marketing literature; average size deal; sales cycle; meet with current clients in the territory; define ideal client; break down territory; and meet with top reps at the company.
- Execution: I would start calling on my prospects immediately while I am getting educated on company and territory. There is no substitute for time in the field with client and prospects, and I would not wait on completing my education before contacting prospects. Based on the ideal client, I would start calling my non-ideal clients first because they are lower risk during my education phase. I would assign in-office days and on the road days. During in-office days, I would make a minimum of 50 cold / introductory calls in addition to education. For road days, I would set up an anchor appointment based on my phone calls, then make in person cold calls for the prospects in the local area.
2. What would be your sales forecast, including number of sales and number of mail pieces for 1st Quarter 09, 2nd Quarter 09, 3rd Quarter 09, and 4th Quarter 09?
My expectation is the company would supply me the territory quota and targets. When I have forecast and production numbers, I would work backwards (chunk) on what I need to do meet these sales targets. For example if my quota is 500,000 mail pieces a quarter and the average deal is 50,000 mail pieces, I need to sell ten average size deals a quarter or 3 plus a month. If on average I need three qualified leads to for one sale, I would set a goal of ten qualified leads a month. I would chunk my quota down to manageable tasks. If the average sales cycle is six months, I would forecast selling one deal in Q1 and two deals in Q2, with all three deals exceeding the average sales cycle.
In addition to meeting quota, I would set personal goals to exceed what the territory did last year; based on history of new reps, set rookie records; be in the top 20% of all reps; and in my second year, compete with the top reps to have the #1 territory.
Shaun’s Notes: I really like question #1 but I would push back hard on question #2. If they are a start-up, how can they expect you to set their sales numbers? If they are an established company, they should have these numbers. If you are not comfortable on pushing back on question #2 and you are familiar with the company and territory, you could get more specific. As with previous CloserQ Answers, I would also make sure the company and their sales culture is a fit for you. There is a lot of confidence in their e-mail.
Gene, 'Good Interviewing'. Reader Feedback, please click the comments below to give ‘Gene' additional recommendations and I want your feedback on my response. Shaun Priest aka CloserQ
E-Mail Questions:
1. What would be your sales strategy?
2. What would be your sales forecast, including number of sales and number of mail pieces for 1st Quarter 09, 2nd Quarter 09, 3rd Quarter 09, and 4th Quarter 09?
Territory Facts:
•Target Client/Prospects: 150 Dealers
•100% PURCHASE Direct Mail Monthly
•We have a solution for any need they may have
•Total Estimated Mail Volume is 1.5 million pieces in your Market.
•All Potential Clients are located in a 70 mile radius.
•You have a very Unique Product to offer with a Unique Selling Proposition!
Gene, thank you for sharing. I have not sold direct mail solutions in my career, so my answers will be more generic to building and starting a sales territory. I recommend you enhance my responses with your knowledge of the company and the industry.
1. What would be your sales strategy?
I would start my first year with a 2E sales strategy of Education and Execution.
- Education: I would get educated at multiple levels on the solution including product; services; pricing; sales messaging; marketing literature; average size deal; sales cycle; meet with current clients in the territory; define ideal client; break down territory; and meet with top reps at the company.
- Execution: I would start calling on my prospects immediately while I am getting educated on company and territory. There is no substitute for time in the field with client and prospects, and I would not wait on completing my education before contacting prospects. Based on the ideal client, I would start calling my non-ideal clients first because they are lower risk during my education phase. I would assign in-office days and on the road days. During in-office days, I would make a minimum of 50 cold / introductory calls in addition to education. For road days, I would set up an anchor appointment based on my phone calls, then make in person cold calls for the prospects in the local area.
2. What would be your sales forecast, including number of sales and number of mail pieces for 1st Quarter 09, 2nd Quarter 09, 3rd Quarter 09, and 4th Quarter 09?
My expectation is the company would supply me the territory quota and targets. When I have forecast and production numbers, I would work backwards (chunk) on what I need to do meet these sales targets. For example if my quota is 500,000 mail pieces a quarter and the average deal is 50,000 mail pieces, I need to sell ten average size deals a quarter or 3 plus a month. If on average I need three qualified leads to for one sale, I would set a goal of ten qualified leads a month. I would chunk my quota down to manageable tasks. If the average sales cycle is six months, I would forecast selling one deal in Q1 and two deals in Q2, with all three deals exceeding the average sales cycle.
In addition to meeting quota, I would set personal goals to exceed what the territory did last year; based on history of new reps, set rookie records; be in the top 20% of all reps; and in my second year, compete with the top reps to have the #1 territory.
Shaun’s Notes: I really like question #1 but I would push back hard on question #2. If they are a start-up, how can they expect you to set their sales numbers? If they are an established company, they should have these numbers. If you are not comfortable on pushing back on question #2 and you are familiar with the company and territory, you could get more specific. As with previous CloserQ Answers, I would also make sure the company and their sales culture is a fit for you. There is a lot of confidence in their e-mail.
Gene, 'Good Interviewing'. Reader Feedback, please click the comments below to give ‘Gene' additional recommendations and I want your feedback on my response. Shaun Priest aka CloserQ
Comments
Lastly, with only 150 opportunities in the territory, I would want to know the competitive landscape and if your prospects have contractual obligations that you will be faced with. Also, what are the switchover costs for a prospect that has an existing relationship in place?
This is either a trick question or a rookie management team.
They make it sound so easy - if it were, why do they need you?