Forget 4Ps , it is 8Ps now….
Posted by Ashish Bavishi on December 3, 2012
Let’s take the ‘8Ps’ marketing talks about and look at what they mean for sales professionals:
1. Product — sales people always need a thorough knowledge of products and in a recession you also need to be able to differentiate your proposition to the customer clearly. The marketing team can help to formulate a clear value proposition and keep an eye on what is changing in terms of the competition. Ask for regular focused updates to be sent to your phone or email.
2. Price — customers are going to be even more eager to ensure that they are receiving value for money. Again, tracking competitor activity can help us present prices positively.
3. Promotion — marketing can action promotional campaigns that result in leads for the sales team. They can also help by qualifying these leads so that you make the most of sales efforts.
4. Place — keep prospecting and looking for potential customers that are similar to your current customers. Once again the marketing team can help by carrying out research to boost your knowledge and save you time.
5. People — get on the phone and ask your best customers to provide referrals to others that may have a need for your products and services. Follow up these referrals or ask the marketing team for help to do so.
6. Process — look after your pipeline business. It is never more important than to follow up business which is already in the pipeline than in a changing economic climate. Some business will inevitably fall away — however, you will lose even more if you expect it to happen. Think positively.
7. Physical evidence — provide the marketing team with a list of ‘warm’ customers who may be willing to supply information for case-studies or testimonials that the sales team can use as proof statements when talking to prospective customers.
And then you can add:
8. Personal selling — sales people need to be proficient and do what only they can do — build and maintain relationships. Marketing can help to identify decision-makers in target organisations, but only the personal touch will build relationships and present relevant benefits to customers and prospective customers, so building their confidence in your company.