KOC Sales Strategy
Here is a program to boost sales without adding employees .The KOC strategy empowers individuals based on a system which is built on knowledge, + organization, + collaboration. With access to the best information and with a system which encourages initiatives from the individuals, collaboration is a natural result. This approach has many advantages over orchestrated collaboration. Less management time is needed and the results are better.
Mcilvaine Company can organize a program to accomplish this with the following components
Management, sales, engineering, R&D and even customers and influencers should be empowered with as much knowledge as is possible
- Market forecasts detailed down to the representative territories
- Product evaluations
- Trends and regulatory developments
- Applications: potential product use in each
- Processes-potential product use in each
- Specific sales leads including status, contacts etc
- OEM opportunities down to yearly potential for each of thousands of companies
- Competition evaluations
- Customized website with all the market reports and databases presently displayed
- Specific quotas or targets by geography, industry and even specific company
- Continuous readjustment of these targets
- Informaton exchange with regional managers and reps to provide the specific sales leads and individual company revenue targets
- Creating collaboration among reps, product leaders and others
- Continuous evaluation of results
- Reports to management
- Knowledge generation including custom intelligence website
- Sales promotion-- 4 Lane Knowledge Bridge to the End User
Macrowikinomics suggests and Buckman laboratories has demonstrated that a collaborative rather than hierarchial sales strategy is the most effective
One of the major conclusions in Macrowikinomics is that divisions by nature are power seeking rather than power sharing. It takes a third party facilitator to create an atmosphere of collaboration and to tap the tremendous resources of the individuals within the divisions.
If a regional manager or representative is informed as to which other individuals within the organization can help him secure the order, he will pursue collaboration. If details about a project are provided to all the right people, they will be enabled to use this common information as a foundation for their discussions.
Deliverables for each group within the corporation
- sales leads organized by territory
- OEM revenue targets revised quarterly
- Continuing communication with each rep to encourage feedback on sales leads and progress with OEMS
- Collaborative webinars with rep, product leader, and other reps involved with a big project or booming industry ( e.g Wyoming and PA for shale gas)
- Sales tools available on demand. These would be video recordings , white papers etc. which would be available for the salesman to review prior to the sales call or view with the customer
- Solicit continuing feedback , suggestions, and criticisms from the reps
Product leaders would be encouraged to
- Expand success rate for the product in the existing applications
- Find new applications for the product
Product leaders should be encouraged to add to the knowledge base The KOC would also provide continuing market forecasts for the opportunities for each product..
Collaboration with engineering and R&D will be critical, The custom intelligence system becomes a focal point for collaboration among various groups
The Mcilvaine promotional campaign would be crafted with the advice and direction of corporate marketing. Mcilvaine would supply information for incorporation in the CRM systems as well as providing a custom website and system. Coordination of trade show exhibitions and trade show visits would also take place
This group would receive a monthly analysis of progress. Each rep would have yearly targets for business in new applications or new products within existing applications. So his reports on progress and meeting these goals will be important information for general sales management
Continuous forecasting of opportunities would be supplied to management These forecasts will change because the program will be pursuing the low hanging fruit. This means that new immediate opportunities will take precedence. Continuing assessment of major factors such as long term natural gas prices in the U.S. will be provided to management
The system will provide training for all personnel through webinars and recorded videos. However, the major advantage is the “training on demand” feature. When the salesman needs to know details on a process, he can quickly acquire it So training will be opportunistic
The program can be executed with the primary effort coming from trainees who rotate every six months. This feature reduces the payments to Mcilvaine coordinators and is the ideal training tool.