Archive for category: Uncategorized

From the wise man Bill

May 4, 2012/in Uncategorized/by learningwithoutscars

The world is more malleable than you think, and it’s waiting for you to hammer it into shape.

Bono, musician

A Magic Threshold

May 4, 2012/in Uncategorized/by learningwithoutscars

Well here we are. After some resistance I seem to be surviving the travails of a blog. This is my 100th posting. I hope you are enjoying my blathering on about this and that. I appreciate the comments that you are sending my way and look forward to more.

Doon’t forget that we had a reading assignment earlier this week. The Goal. And I hope you have found some time to read it. It is a timeless classic in my view and one that bears rereading occassionally to keep on your toes. Complacency is the enemy, Don’t forget that “Good” and “Great” are the enemy of what is “Possible.”

The time is now.

A Fellow Traveller

May 3, 2012/in Uncategorized/by learningwithoutscars

Just a short note. A good man with a world of experience is starting into the world of the blog. His blog is – growth without pain. Check it out you won’t be sorry. The time is now.

A question please

April 28, 2012/in Uncategorized/by learningwithoutscars

Has anyone had any experience with GoToMeeting or GoToWebinar on the video side?

With GoToMeeting you can have six images on the screen with live video and fifteen participants. With GoToWebinar you can have 1,000 participants and still just six video.

I would appreciate any help you can offer. Thank you. The time is now…

Friday Filosophy #5

April 1, 2012/in Uncategorized/by learningwithoutscars

A fall into a ditch makes you wise.

Chinese Proverb

Life is not about waiting for the storm to pass. It is about learning to dance in the rain

I can accept failure. Everyone fails at something. But I can’t accept not trying.

Michael Jordan

The 1st weekend in April.

April 1, 2012/in Uncategorized/by learningwithoutscars

April fool’s day has long been a fun day for me. I suppose that shows – what kind of fool I am (sic).

Over the years I have had several penguins in the backyard when we lived in Montreal. Flamingo’s in the front yard in Edmonton. You get the drift. I am not at home this year and I have asked my daughter to continue the shenanigans without me. She got my grandson with the Flamingo rerun and he tried to get his sister with the same and was met with a yawn. Oh well.

The time is now.

The vagaries of travel

March 7, 2012/in Uncategorized/by learningwithoutscars

One of the truly remarkable things that has happened through my work life has been the availability of air travel. It is not as if airplanes were just invented and brought to the market but it is the availability of flights to almost everywhere you want to go and at a price that would once seem stupid low.

That having been said to some degree air travel has become a victim of “an industry.” We have many competing influences. The employer, the employee, the governments, shareholders and oh I nearly forget the customer. Yes there is that pesky little customer.

I spent most of the day flying across the country and through a connection in Chicago. Wonderful experience that is you know. A little wind and the place basically shuts down. It really is a shame to see a once proud airport, the one with the most take offs and landings of any airport in the world brought to its knees. I m not sure there is anyone to blame as there is more than enough blame to go around. What I do know is that the Customer is that last one of the stakeholders that anyone seems to care about in the chain of influencers. I feel much more like a victim than a respected customer. Am I alone? I certainly doubt it.

I use this metaphorically as well as literally as an entry point to the world of customer service. Customer service in America has gotten so bad that customers have stopped complaining. What do your employees do to make your customers feel special? In this world of service dominant marketing it is important that each customer touch be memorable. How do your customers respond to you? It is all about how your employees, your heroes, perform with your customers? The time is now.

Service Management – Unit I March 21st & 22nd, 2012

March 6, 2012/in Business Services, Consulting Services, Personnel, Service, Uncategorized/by learningwithoutscars

The “New” Quest Service Management – Unit I

What it looks like when it is Right

A more professional, productive and profitable Service Operation is necessary for the distributors in the Capitals Goods Industries to be successful. To assist in the development of this Service Management team we have designed a new series of training courses aimed at enhancing the skills of those charged with this responsibility. The “New Quest Service Management Level I” consists of 4 elements presented during a two day seminar.

The Principles of Management

The Basic Principles of Management – what we call the Pursuit of Performance: Planning, Organizing and Control; Job Descriptions and Responsibilities, Performance Standards and Targets – what it looks like when it is right; Employee counseling with praise and constructive criticism in Personnel Management; Time Management to set yourself free; The Business of Change and how to overcome resistance to change; How to survive in spite of ourselves.

Introduction to Accounting & Finance for Service Personnel

Understand Financial Statements from the Service Department Perspective. Clear and understandable definitions of the main financial terminology a supervisor/manager must have. Learn the Dealership Financial Fitness Model; and Profitability Pyramid. Asset Management and the value of Return On Assets. Pricing and Return on Capital Employed (ROCE) Discover new truths about the famous “Discount” and the consequences of it on the customer and the business.

The Operational and Process Foundation

Balancing Labor and Skills Availability with Customer Service: Work Order Process Management; simplification is not just a nice word it is very possible in this clear exposure of the flow and needs of a service management job function. The impossible made understandable. Completion Dates and Meeting Them. Unleash your true power of knowledge by learning about flat rating and shop floor scheduling.

It’s All about Customers

Satisfying everyone’s requirements and developing relationships: “Inspections” to ensure Machine Reliability, Technical knowledge and advice. How you should use price as a marketing tool; variable labor rates and their application. Value added selling; and the value of Customer Retention. Surveys to develop satisfied customers for life: Customer Profiles and all the background required to make customers your apostles.

This “New Quest Service Management Level I” provides a broad base introduction to Service Management for the 21st Century. It is intended for Service Lead hands, Instore Sales Lead hands, Supervisors, Managers and Executives. The material covers all management and operational disciplines of a Professional Service Manager.

The 1st Weekend in March

March 3, 2012/in Uncategorized/by learningwithoutscars

Well here we are – the first weekend in March. The leap February got things all cross ways – a friend of mine had his birthday on Wednesday – he is now 17. Now wouldn’t that be amazing? I can’t say that I would want to go back to seventeen again. Once was enough.

Well I hope you all had a great week last week and that the coming week will be even better. Of course that is up to you. In the meantime enjoy your weekend. Get some chores done around your home. Share quality time with family and friends.

The time is now.

TESTIMONIALS

Market Share, Sales Participation and Closure

Guest writer Kurt Pease is back with a blog post on the topic of "sales participation, market share, and closure," and the ways these elements can be improved upon in your business.

Leadership teams at both the dealer and manufacturer levels dedicate considerable attention to strategizing ways to expand their customer base. The primary objective behind this effort is to increase revenue by attracting a larger number of customers. Stakeholders from both the dealer and manufacturer levels are inclined to invest in companies that consistently demonstrate year-over-year growth in profitability. The term market share is the most used metric to gauge growth. Participating and closing deals are both terms that directly impact market share. Let's dive deeper into these concepts:

Market Share:

Market share refers to the percentage of total sales within a specific market that a company or product holds. It is an important sales metric that indicates a company's competitiveness. A higher market share often leads to a larger customer base, increased parts and service needs, and higher dealer revenue. The Association of Equipment Manufacturers (AEM) collects data on new equipment sales from participating original equipment manufacturers (OEMs) to calculate market share. This data is categorized by county, machine type, and horsepower. Market share is determined by dividing new dealer settlements by the aggregate AEM data, typically reported on a monthly, year-to-date (YTD), fiscal year-to-date (FYTD), or rolling 12-month basis. Sales participation and closure directly impact market share.

Sales Participation:

Sales participation measures the engagement of a salesforce with their assigned customer base. The goal is to achieve a 100% participation rate, where every customer provides an opportunity to quote when purchasing equipment. This metric is calculated by the dealer or manufacturer using new dealer settlements and AEM industry data. The formula is:

(New Equipment Settlements + Quoted but Lost) / (Industry Settlements – Dealer Owned Rental Fleet)

"Quoted but lost" refers to quotes entered into the dealership's customer relationship management (CRM) system, which either result in equipment purchases or are marked as lost customer sales. The dealer-owned rental fleet is excluded from the denominator to focus on sales influenced by the sales process.

Closure Rate:

The closure rate calculates the percentage of deals in which the sales team participates but does not close. Reasons for non-closure can vary, including customer brand preference, machine availability, salesman-customer relationship, and pricing. Price is often cited as a primary reason for non-closure. On average, dealers participate in 50% of opportunities and close approximately 50% of those deals. Multiplying these percentages together gives an estimated dealer market share of 25%. When forecasting an increase in market share, it is important to identify whether the focus will be on increasing participation, closure, or both.

Increasing Sales Participation:

One method for increasing sales participation is to utilize UCC1 data during sales meetings for salesperson coaching and customer engagement. For example, the UCC1 new equipment data can be downloaded into mapping software, which helps visualize customer and machine details. This approach enhances engagement and response from sales teams. Sales meetings provide an opportunity to review past sales details, use the map and data points to identify customers who purchased from a competitor, and check if quotes were generated by the assigned salesperson in the CRM.

Follow-up questions to be asked:

Was the customer identified in the CRM?

How is the customer call frequency classified in your CRM? (A, B, C, D, or E). For example, were they to be called on a weekly, monthly, quarterly, semiannually, or annual basis?

Based on the CRM details, did the salesperson complete call reports based on call frequency?

Did the salespeople participate in the deal?

Why did we lose the sale (closure)? Possible reasons include price, availability, equipment features, and salesperson relationship.

If we participated and lost the deal, at least we earned the right to quote. However, if we did not establish a relationship by not calling on the customer, it presents an opportunity for further investigation. Sales managers can ask key questions based on CRM data to gain insights into customer engagement and sales performance. Understanding the reasons behind lost sales and integrating them into future strategies is crucial for increasing market share. Increasing market share requires actively participating in more deals and closing on those opportunities. Awareness alone is not enough; salespeople must quote to generate market share.

It's worth noting that customers may not always share the real reason why they did not purchase from your salesperson, making it an imprecise science. Price is often given as the reason for a lost sale. Understanding how sales participation and closure rates are calculated, as well as the underlying data that drives these metrics, is critical for effectively increasing market share.

By understanding the importance of market share and the data that drives this metric, leadership teams can manage their sales teams and lay a sound foundation to generate year-over-year growth in both revenue and profitability.

Did you enjoy this blog? Read more great blog posts here.

For our course lists, please click here.

February 13, 2024

September 10, 2021

FRIDAY FILOSOPHY

Throughout history, women have been working hard to ensure that the female voice is heard. Whether that means working in politics, becoming an activist for social change, or breaking barriers in athletics, women have gone the extra mile to gain equality and advocate for a better world. Regardless of age, race, or nationality. By working with purpose and confidence, women demonstrate that having strength and tenacity doesn't mean sacrificing your vulnerability. And all of these quoted women show that failure shouldn't be an obstacle in meeting your goals. So, in honor of all the incredible women who have blazed a trail forward—both in the past and present—here are some inspirational quotes. The words of these wise women prove that through action, anything is possible.

Girls are capable of doing everything men are capable of doing. Sometimes they have more imagination than men. – Katherine Johnson, mathematician and one of the first African-American women to work as a NASA scientist

I raise up my voice—not so I can shout but so that those without a voice can be heard… We cannot succeed when half of us are held back. – Malala Yousafzai, Pakistani activist for female education and the youngest Nobel Prize laureate

Tremendous amounts of talent are being lost to our society just because that talent wears a skirt.” – Shirley Chisholm, first African-American woman elected to U.S. Congress

Have no fear of perfection; you'll never reach it. – Marie Curie, chemist who was the first woman to win a Nobel Prize.

You cannot shake hands with a clenched fist. – Indira Gandhi, first female Prime Minister of India

No one can make you feel inferior without your consent.” – Eleanor Roosevelt, former U.S. First Lady and U.S. Delegate to the United Nations General Assembly

Change happens by listening and then starting a dialogue with the people who are doing something you don't believe is right. – Jane Goodall, world's foremost expert on chimpanzees and environmental activist

We are here, not because we are law-breakers; we are here in our efforts to become law-makers. –Emmeline Pankhurst, leader of the UK suffragette movement

Nothing is worth more than laughter. It is strength to laugh and to abandon oneself, to be light. – Frida Kahlo, was a Mexican painter known for her many portraits

The Time is Now.

Did you enjoy this blog? Read more great blog posts here.

For our course lists, please click here.

September 10, 2021