COMPILATION OF IDEAS AND THOUGHTS ABOUT BUSINESS MARKETING AND SELLING

           

 COMPILATION OF IDEAS AND THOUGHTS ABOUT BUSINESS,                                               MARKETING,  AND SELLING

Objectives:      1.  To collate in one spot all that needs to be learned about business, marketing and sales

                        2.  To make efficient training of CSS, CMO and other sales executives

Background    1.  Some sbus are not selling;  our sales and collection have steadily decreased.     We peaked 10 years ago.

                       2.  Dearth of knowledge by newbies

                       3.   We need SUNNAO - emptying our cup as we listen and as we work at Holy Gardens

                       4.  Two laws to be remembered:

                            KIDLIN law -  writing down and clarifying the problem solves 50% of  a problem or situation

                            WALSON law -- intelligence and knowledge precedes any situation, and the money and wealth that comes

    WHAT          COMPILATION OF IDEAS AND THOUGHTS ABOUT BUSINESS                                                      MARKETING AND SELLING

    1.  Definition of a business -  a business is an entity that creates customer.

        1.  Two functions are important in  a business:   marketing and innovation (R & D)    Marketing to make the customer aware and buy and r & d to follow changing customer wants and needs

             to satisfy him

        2.  Creating the customer involves prospecting and selling.   No prospecting and selling no business.    Customer is the one who pays

        3.  An sbu only function is to sell.   No sales ---> the sbu lose its reason for being

  2.   Why is selling an important activity?

      1.  It makes the world go round;  no sales no economic activity;    no economic activity -->  no food shelter satisfaction of peoples wants and needs

      2.  Economy is nothing more than a collection of various selling and buying activity.  It is not megadeal and mergers and acquisition, or mega govt projects

      3.   Selling is the major  wealth creating activity.  That is why marketing is a major activity that gets paid well.

      4.  Between producing and marketing marketing gets the bigger share of the economic pie (why traders make more money than farmers producers

      5.  And yet it only requires investment of saliva

3.   Business model - first started by father of modern management -  Peter Drucker.  It describes how a business creates wealth.  

             Osterwalder's canvas has nine boxes: customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.^{[1]: 16–17} Descriptions below are based largely on the 2010 book Business Model Generation.^{[1]: 20–41}

• Infrastructure
  • Key activities: The most important activities in executing a company's value proposition. An example for Bic, the pen manufacturer, would be creating an efficient supply chain to drive down costs.
  • Key resources: The resources that are necessary to create value for the customer. They are considered assets to a company that are needed to sustain and support the business. These resources could be human, financial, physical and intellectual.
  • Partner network: In order to optimize operations and reduce risks of a business model, organizations usually cultivate buyer-supplier relationships so they can focus on their core activity. Complementary business alliances also can be considered through joint ventures or strategic alliances between competitors or non-competitors.
• Offering
  • Value propositions: The collection of products and services a business offers to meet the needs of its customers. According to Osterwalder,^[6] a company's value proposition is what distinguishes it from its competitors. The value proposition provides value through various elements such as newness, performance, customization, "getting the job done", design, brand/status, price, cost reduction, risk reduction, accessibility, and convenience/usability.
    • The value propositions may be:
      • Quantitative – price and efficiency
      • Qualitative – overall customer experience and outcome
• Determine PTM Customers
  • Customer segments: To build an effective business model, a company must identify which customers it tries to serve. Various sets of customers can be segmented based on their different needs and attributes to ensure appropriate implementation of corporate strategy to meet the characteristics of selected groups of clients. The different types of customer segments include:
    • Mass market: There is no specific segmentation for a company that follows the mass market element as the organization displays a wide view of potential clients: e.g. car.
    • Niche market: Customer segmentation based on specialized needs and characteristics of its clients: e.g. Rolex.
    • Segmented: A company applies additional segmentation within existing customer segment. In the segmented situation, the business may further distinguish its clients based on gender, age, and/or income.
    • Diversify: A business serves multiple customer segments with different needs and characteristics.
    • Multi-sided platform/market: For a smooth day-to-day business operation, some companies will serve mutually dependent customer segments. A credit card company will provide services to credit card holders while simultaneously assisting merchants who accept those credit cards.
  • Channels: A company can deliver its value proposition to its targeted customers through different channels. Effective channels will distribute a company's value proposition in ways that are fast, efficient and cost-effective. An organization can reach its clients through its own channels (store front), partner channels (major distributors), or a combination of both.
  • Customer relationships: To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments. That element should address three critical steps of a customer's relationship: How the business will get new customers, how the business will keep customers purchasing or using its services and how the business will grow its revenue from its current customers. Various forms of customer relationships include:
    • Personal assistance: Assistance in a form of employee-customer interaction. Such assistance is performed during sales and/or after sales.
    • Dedicated personal assistance: The most intimate and hands-on personal assistance in which a sales representative is assigned to handle all the needs and questions of a special set of clients.
    • Self service: The type of relationship that translates from the indirect interaction between the company and the clients. Here, an organization provides the tools needed for the customers to serve themselves easily and effectively.
    • Automated services: A system similar to self-service but more personalized as it has the ability to identify individual customers and their preferences. An example of this would be Amazon.com making book suggestions based on the characteristics of previous book purchases.
    • Communities: Creating a community allows for direct interactions among different clients and the company. The community platform produces a scenario where knowledge can be shared and problems are solved between different clients.
    • Co-creation: A personal relationship is created through the customer's direct input to the final outcome of the company's products/services.
• Finances
• Cost structure: This describes the most important monetary consequences while operating under different business models.
  • Classes of business structures:
    • Cost-driven – This business model focuses on minimizing all costs and having no frills: e.g. low-cost airlines.
    • Value-driven – Less concerned with cost, this business model focuses on creating value for products and services: e.g. Louis Vuitton, Rolex.
  • Characteristics of cost structures:
    • Fixed costs – Costs are unchanged across different applications: e.g. salary, rent.
    • Variable costs – Costs vary depending on the amount of production of goods or services: e.g. music festivals.
    • Economies of scale – Costs go down as the amount of goods are ordered or produced.
    • Economies of scope – Costs go down due to incorporating other businesses which have a direct relation to the original product.
• Revenue streams: The way a company makes income from each customer segment. Several ways to generate a revenue stream:
• Asset sale – (the most common type) Selling ownership rights to a physical good: e.g. retail corporations.
• Usage fee – Money generated from the use of a particular service: e.g. UPS.
• Subscription fees – Revenue generated by selling access to a continuous service: e.g. Netflix.
• Lending/leasing/renting – Giving exclusive right to an asset for a particular period of time: e.g. leasing a car.
• Licensing – Revenue generated from charging for the use of a protected intellectual property.
• Brokerage fees – Revenue generated from an intermediate service between 2 parties: e.g. broker selling a house for commission.
• Advertising – Revenue generated from charging fees for product advertisement

  4.    Offering:   Main Value Proposition (MVP)

        1.  It provides GAIN and removes PAIN

        2.  It must be 

                         OUTSTANDING

                         AMAZING

                         EXTRA ORDINARY

                         MESMERIZING

              It cant be a copy cat proposition.  A business that is a me too product service or service cant survive for long.

              It is the only STRATEGY THAT MATTERS.    And that is a continual battle to stay on top.    Top Japanese companies

                  collapsed when it could no longer be outstanding

      5.  HGMP's 

             PAIN REMOVAL

                  1.  Flowers

                  2.  Music

                  3   Free obits

                 4.  Dalaw paburol  (see interment checklist)

                 5  Phone calls of sympathy from HO

                 6.  Funeral pack

                 7.  Convoy ribbon

                 8.  Uniformed male escorts

                 9    CSS uniform  (lets make it barong style, even for ladies

               10.  New features of IS after price increase?

                     Are all of these being practiced?

       

            GAIN

               1.  Property appreciation  /

               2.  Site COBS                   ?

               3. Flowering plants and trees?

              4   Branding (one of top 10 memorial parks in ph) /

              5.   Credit line for all owners (no interment yet)  ?   (working on this

                     Is this being practiced?

     6.   Benefits from buying/investing in a memorial park lot

          1.  For a small amount monthly you get peace of mind (under our new PPA, all purchases are insured.   If the customer 1.  has no pre exisitng condition.   2.  after one year 

               contestability period, no arrears.

          2.  No surprises, no shame.     For the head of family, when tragedy strikes, you cant afford not to have one.    

          3.  Prestige vs public or religious cemetery:  organized with security and lighting

          4.  A place where family gathers:  during interment, on All Saints/souls day,, and on death anniversary

          5.  Limited ownership -  limited number of plots compared to total number of population.    Not too many build a memorial park

          6.   Natural destiny of life.  -- end of life.  All that started ends.    You cant fight it

          7.   Still prescribed by Vatican:   Pope Leo XIV frowns upon cremation comes the 2nd coming

    7.  Advantages of Holy Gardens Memorial Park purchase

        1.  One of the top 10 brands in memorial park

        2.   Located in  13 locations nationwide

        3.  Strategic easy to reach location

        4.  Unforgettable interment service

        5.  Tops in customer service

        Are we going to do something about  Numbers 4 and 5

     

   8.   AATR

        What Josiah Go says about sales and marketin:

          1.  Awareness

          2.  Availability

          3.  Trial 

        4. Repeat sales

      The adage that build a better mouse trap and the world will come running at your door is not true.  You need awareness:   promotion and ads

     You make profit, build sustainability  you need repeat sales.  Without repeat sales you lose, because it takes a huge sum of money for awareness

9.  Ads are investment;   therefore you need an ROI

     This post worked with a sibling senior manager (former sailor) who asserted we do not need ads;  we recently hear that again.

     What would you do (F Lim) if there is a machine that spews out P100 peso bill every time you put in  P5 peso bill.  Of course you would put in more P5 peso bill

     thats what essentially you do with ads.  You invest in your brand, brand presence and equity.  That is why you must invest in :    tarps, FB presence, Google ads (one of the most

     powerful)   This isi a big challenge for sbus -  no posting at FB.   We have not done so with Google ads

    That is why at Jollibee millions in ads spent are capitalized over 5 years.   Aga Muchlach is paid in Jbee franchise for his endorsement in ads

    Do we beieve in that.?   We have frames at sbus that are empty:     Lu, HGGMP, Panga, Oton

   Popular ads by ad maker:    A BUSINESS WITHOUT SIGN IS A SIGN OF NO BUSINESS

10.  AIDA ADS.  FB ads

      1.  FB and other platforms are the marketing platforms -  not newspaper, yellow pages, or the giant billboards.   People are glued to their cellphones

     2.   Thus we radio TV and newspaper ads died.  Ads are with Gmail, You tube, and FB.    They get billions from ads all over the globe

    3  Thus you have to live with  ads at Android or Iphones thats the way to go

    4.  AIDA AD  - you have to stop the reader from scrolling  and read your ad

          A  -  attention With a good headline or or pictures

         I -   interest - with a factoid about your product;  impt feature (just one) do not fonfuse the prospect

         D - esire with an offer;  free discount, freebies (delivery, or buy one take one)  limited time offer (scarcity

         A - ction -   call visit,  order now

  5.  DM bot makes prospecting via FB easier  Once the prospect gives his CP he is ready to buy

  6.  There are FB and DM ads.  Once you click a picture, you are brought to a dm prompt.  Bot ready to take your inquiry or order.  You build up leads (propects fast this way

 7.   Ads drive like a fan to your store front business site.   It is a the task of the sales people to close and complete the sale

 8. Paid or free ads?

     Free ads takes time to be taken by algorithm to be shown beyond 25 readers. Paid ads are seen 24 hours by prospects 24/7.  But paid ads are expensive.  You must use both

     to maximize

9.  Your cp, your gmail and dm are your windows to the world - DO YOU READ THESE  OFTEN;   ONCE IN THE MORNING AND ONCE IN THE EVENING?

    Thus we invested in cp, computer to help you becomee better in communication to close more deals

10   Content creators, likes, following does not guarantee sales.    You may have few followers and few likes or not top contents but make huge sales.  

11.  Focus:   on one product, on one segment (say seniors) on one key feature that you think appeal to the PTM you have focussed.

      Avoid having discount  and product values...

12.   For most statuc ads maximum numbe of words is 10.  Especiallyfor outdoors

13.  Videos sell.  Thus put more videos  Use AI for this.    

11.  Conforming to changing customer wants and needs

       1.  In most of marketing plans and our plans being prepared, the 3 Cs are required as a background:   

           COMPETITION

           COMPANY 

           CUSTOMER  (the PRIMARY TARGET MARKET)

       2  You have to folow the moving target whose taste, wants and needs change so often.  If not the company  sales stagnates;

        See nokia succumbing to Android and Iphone

        Malls closing due to on line selling

       Thus malls are adjusting by having more features that cant be delivered on line;   EXPERIENTIAL:   resto, gyms, dance lessons, art exhibits, concerts etc.  

       Thus the buzz words on changing upping customer experience.   

       Are we adjusting to this new trends?

-x-x-x-x-x-x-x

    SALES

12.  Why do buyers buy?  Reasons: (or that forces to buy)

       Prospects defer making the decision (as many of us  We procrastinate

     1.  Type of prospects                                                 Ad or Sales talk needed

         A - with money and intested                                 CTA, POS

        B-  no monety but interested                                financing terms

       C.   with money not interested                              Learning

       D  No money not interested                                 likes following, friends  learnign

   2,  How do you make them buy:

      1.  Scarcity -  limited time offer, limited inventory,  very low inventory.  Once in a time  promo unbelievable offer

      2   Fear -  of not having one or buying

 

    3.  Emotion -  loss of job, loss of prestige shame,   being left out ridiculed

    4  Authority -  recommended by PAMET, by celeb, by top govt official   (mostly involving scam)

    TEMU and   CEBU PACIFIC have been tops in this type of scarcity promos (combination of promo and scarcity)  year long promo,- weekly unbelievable

     offer that serve as BAIT

      Example for us:

    1  Buy one take 2 (very limited) for difficult location lots, difficutl to sell  CASH LANG

   2  GE deals

      If you buy cash or GE
 

     Variants:

         1.  Free ordinary interment (good for same price for 5 years

         2.  Free 12th lot  unbelievable  talage

       3.   Free lawn lots

       Pag pumasok na iba offer na ng regular price list

13.  Selling on value vs price 

      1.  Focus on benefits rather than price.  Price is mentioned last.   

     2  Benefits, benefits vs price

    3.  When the customer asks for price it is a buying signal

    4. When you focus on price and iscount the price, you are just a commodity.  And you have expeosed yourself to brutal unforgiving competition ie price.

      This becomes a vicious death spiral

   5. It is better to sell high priced value added price rather than cheap products. You spend the same time selling a P10,000 product vs a P1,000,000 product

  6.  When customer discounts the offering:   it means:

      1. You have not completely sold him the product

      2.  His experience (the COBS, the CS) at your park is unsatisfactory;  IMPROVE THESE

14.  20/80 rule on selling

    1  20% of the precious few account for the 80% of the results (Pareto  principle)

   2.  It applies to your sales efforts;  only 20% of your tasks goes on to produce most of your sales results, and also 20% of your total sales are profitble

  

   3.  It pays that you defend and retain those 20%.  Since you do not have to spend more on the agents com and ads.  

      THUS IT IS CRIMINAL FOR STAFF MEMBERS TO DUMP THE SALES TO THEIR FAVORITE AGENTS!!! AS WE HAVE DISCOVERED.  We lose that profitabilty to office

      sale having agents

15.   Personal changes for you to be a top sales person

        1.  Believe in yourself, your company and the product.  To prove, better buy a product yourself

 

        2.  Mind your clothes, shoes, haircut, shoes, moustache,  body and breath odor.  Wear a deodorizer light cologne

       3.  Dress conservatively

       4 Enrich your mind  Practice self improvement

       5. Develop your character and integrity

       6.  Keep your word

      7.  Practice good speaking and correct English

 

      8    Research on your prospect

     9  Product mastery

  10.  Practice memory.   Memorize names data of past customers

  11.  Enroll in courses for selling and personal improvement

  12. Master planning time management  Practice goal setting 

 13.  Practice honesty and integrity, do no steal others prospects;  do not claim sales that is not yours

 14.  Learn business and social etiquette

 15    Hire an assistant if you earn well to take care of your record keeping:  prospect, commission uncollected, birthdays of prospects past customer

 16.  Practice networking and mastermind group

 17.  Read books articles, videos on self motivation

16.   Personal selling

   1  Generate leads from your contacts:   1.  bird dogs,   2  contacts at local registry,   3.  mun sanitary inspector   4 church,   5.  FB postings

  2.  Research and pre qualify:   does he have money and authority to decide

 3.  Set an appointment reserch more

 4. Prepare your presentation:   sales kit your tablet that contains video about the site and an interment  Rehearse or write a script of what you want to present

 5.  Visit or have tripping with the prospect.

 6  Establish rapport  Find similarities:  schools, home town, province, hobbies, jobs etc

 7.  Be like a doctor.  Ask questions and diagnose how our product can meet the requirements of the prospects.  What are his/her concerns:

       features

       price

       arrangements?

    Ask your office if you are not sure.

8.  Answering objections  Be sure you have a list and rehearsed how to answer  Objections lead to closing.  Those who object usually are close to agreeing

     E.g.

        1.  Wife whose husband is OFW.     Objections:   I will ask pa my husband.

         I am sure mam your husband who trusts you with his remittance. will trust you with whats best for your family   THe little monthly will surely hot affect your budget

         Should he disagree, the little reservation fee is refundable in full (within 30 days)

       2  Will ask accountant, lawyer

       Iam sure mam sir that your accountant gives you great advice on other legal matters, but in so far as the memorial park is concerned, am certain that the  best person to

       ask clarification is from here.

      3.  Baka every 5 years

     You own the lot po forever, unlike in Catholic or Mun Cemetery

 9.   No.  No more objection in the future.  Learn from your mistakes

10.   Closing.  Is about caring and trust that you have built in your conversation  Ask for payment and set an appointment to make the payment and sign the docs.  

        Ask for a decision after your presentation.  Dont be shy.  You owe to yourself to conclude the visit trip with the closing   

17.  Buying signs

  1.  Watch the body language.   

  2.  When he she starts asking question

 3.  When he she is objecting

18.  Do you need a constant follow up?

      You are the expert.  Dont act desperately  Be the one to be searched.  You  are the expert  You are the source of something valuable

19  Objection that leads to nowhere?

     I will think about it?  (Sir Mr Prospect -  what is still that bothers you  Please let me know)

    Come back later.

    Always say, I will reserve the lot for you in a week.  We will give to others if I do not hear from you in a __week/month

   Opportunity comes to you only once

   My past clients blame me for not forcing or trying hard enough then to buy.  Ngayon mahal na