Work-life balance as a Head Sales And Marketing is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).
Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Head Sales And Marketing from never-ending workday is damaging. It can hurt relationships, health and overall happiness.
The Basics of Customer-Centric Selling
The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.
When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.
Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.
We select our store locations. We select our staff. We select the merchandise to carry; and along those lines, we select our vendors. Selecting the correct vendors - in addition to managing these vendors during the selection process and beyond - can often be the difference between making your store profitable or simply providing real estate for the vendors to sell their goods. It is time to manage your vendors!
So... raise your hand if you have ever conducted a thorough Request For Proposal (RFP) process for you vendors. Anyone? In truth, not many have to the extent that you evaluate multiple vendors, creating competition for space in your store. How you manage the RFP process can and will set the tone for all your go-forward vendors. A well-thought out process to vendor selection, can provide real opportunities for you in the following areas:
Rebates: Did you know that vendors offer rebates based on product placement; rack allowances; product movement and other considerations? In some cases, the vendor receives manufacturing rebates that you need to ensure are passed onto you. The RFP Process ensures you identify and capture your fair share.
Incentives: The vendor is in your store for one thing - to sell their product. Meeting the goals of the vendors should only be achieved if they are aligned with your goals. What types of incentives do you vendors provide you in order to meet that goal? Work with the vendor to establish incentives for each party that foster alignment.
Deliveries: You pay for delivery whether you believe that or not. Manage the amount of deliveries to your store on a weekly basis so that you have enough inventory on hand, but not so much that you are paying full-load delivery fees for partial deliveries. You may want to consider adjustments based on seasonality.
Never Out of Basics: All stores carry that "MUST HAVE" product that you can never be out of - ever! Identify your "must have" products and ensure that you and your vendor have a clear understanding on the ramifications if any of these products are ever out of stock. Build in financial penalties for the vendor if you are shorted product on your core offerings.
Marketing: Identify programs and investments that your vendor partner will make in advertising and promoting their products. These should be managed in concert with your overall marketing of your store and determined jointly with the vendor to ensure their financial obligation, as well as timing.
Payment Terms: Standard policy is net 30 days, but have you inquired about discounts if you pay earlier? In some cases, the squeaky wheel gets the oil and if you are in a position to negotiate more favorable payment terms, do so.
Product Returns: Have you established a specific contractual obligation on product or damaged returns? Re-slotting fees and other incremental mark-ups by your vendor with regard to returned products could eat away at your gross profit. In addition, now is the time to establish the process for replacing damaged products.
Contract Terms: How long are you committed to this vendor and what are the "out clauses" in the contract should a better vendor come along? The best place to negotiate this is during the RFP process when the vendor is hungry for your business.
Mark-Ups: Every product you purchase comes with a corresponding markup - or the manufacturer/vendor profit. Most of these markups are determined by a category of products as opposed by the product SKU. Knowing your industry markup ranges by category will better prepare you in establishing the best cost structure for your product acquisition.
Conducting a thorough RFP Process is critical for establishing not only your pricing structure with your vendors but also in developing the process in which business is conducted. Remember, vendors are in YOUR store and it is up to you to determine the roles that each of them play. If you do not take control of your vendors from the onset, you will face an uphill battle within your own store. Or as Winston Churchill once said, "he who fails to plan is planning to fail."
There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.
Empowering employees like Head Sales And Marketing to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.
How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?
Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.
Customer centric selling is a selling process that seeks to sell products to the customer with the aim of ensuring that the interests of the buyer are prioritized. Unlike the traditional approach, this selling process seeks to form long-term relationships between the buyer and the seller by turning the seller into a partner rather than a tormentor. However, it does not seek to overhaul or do away with traditional sales values and tactics. Instead, it seeks to make those values adapt to changing consumer patterns and increased scrutiny from government regulations.
Conversations vs. Presentations
Traditional marketing requires that you go with a script in your head and present it to anyone who cares to listen. Though this worked for a while and still works, customer-centric selling tries to replace this with situational conversations. This means that the seller tries to give this person something that is relevant to a situation that is around them.
Features vs. Benefits
Nowadays, people are more interested about their needs than in the past. For this reason, they seek to relate what the product can do to what they need to be done. This means that instead of telling this person that the laptop weighs only three ounce, you tell that person that the laptop is light and portable. This means that you as a salesperson need to highlight the benefits of the product and how it will help that buyer.
Another feature about customer-centric sales strategy is that unlike traditional marketing where the salespersons were seen as a group that needs to be managed (since it was a top down approach), effective selling requires that managers rely on feedback from the salesperson to the managing because it is the salespeople who understand the real difficulties of selling the product based on with their challenges, and therefore, the need for adjusting your product to suit the buyer and not the other way round.
Another unique thing about the customer-centric selling approach is that the seller makes an effort in trying to ask the buyer questions so as to get feedbacks. Here, the seller has not just gone out to recite a couple of features about the product and then give them to a disinterested listener. The seller seeks to show the buyer that he is actually willing to listen to the buyer and then gives him what will be the best. So many people have been able to get valuable information from prospects even though they may not have bought the product, but provided valuable insight as to why the product was not selling in the first place.
As the name suggests, it is important to note that this model for selling is rather new and if you are planning to introduce it to your organization, you may face some stiff resistance to those who are used to the old way of doing things. However, once you try implementing it, you will realize that the benefits of this system far outweigh the challenges.
When a Head Sales And Marketing spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.