This two-day programme reflects the sales process and covers the financial implications and overlaps at each stage of the sales process, to ensure delegates fully appreciate the relevance of finance to their sales roles and can immediately implement the concepts at work.
Suitable for all sales people who need an understanding of finance in their roles and would like to be able to sell the financial benefits of your products, services and solutions. If you've already attended this course and are looking to progress to a more strategic finance selling course then you may wish to consider Selling to the Board.
By the end of this course you will be able to:
- Understand how your day-to-day decisions and negotiations impact profit and cashflow within your business.
- Understand how your product, service or solution impacts your customer’s profit, investments and cashflow.
- Work with the credit control function to ensure sales are not delayed in the credit authorisation process and that profits are not affected when customers start to struggle financially.
- Evaluate potential customers, to ensure they are viable before you waste sales effort on a business in financial difficulty.
- Sell the financial benefits of your product, service or solution.
- Negotiate profitable sales contracts.
Evaluating Potential Customers
- Simple things to look for to assess the viability of a potential customer before you start the sales process in full
- Understanding what the customer’s financial reports; income statement, balance sheet and cash flow statement, are telling you: assessing their financial position will tell you if your customer would benefit from:
- Solutions that save them overheads or costs of sales
- Buying or leasing the solution
- Buying the solution as Capex or Opex
- Paying up front, or staged payments
- Working with credit control to ensure the credit authorisation process is smooth and swift
Selling Financial Features and Benefits in your Solution
- How can you “sell” your solution internally; showing your sales don’t just add to revenue, but that you also consider cash and working capital impacts
- What can your product, service or solution do to improve the customer’s working capital, revenues, margins and ROCE?
- How does your solution save the customer money in the long term, making buying you solution an investment rather than a cost
- Understanding how your negotiations impact your company’s margins and working capital, ensuring your sales remain profitable for your company
- Understand how to negotiate financial terms with customers to trade low cost (to you) concessions that appear high value to the customer
Maintaining a Good Relationship with Credit Control and your Customer
- Working with credit control to feedback information about existing customers to ensure credit control manage the account appropriately
- Maintaining a good relationship with them to ensure your advice is sought on credit limits and payment terms for future customers
- Formulating an action plan