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Sales meetings always feel heavy.

Sales meetings always feel heavy.

As soon as you go to work on Monday, the representative puts his hands in his pockets and enters, and talks for over an hour, and most of the meeting attendees are bowing their heads.

"What?! Our competitors are growing and their sales are going up, why are ours constantly falling?!"

"Kim, the CEO of ㅇㅇ company, said he increased sales through ㅇㅇㅇ, let's do that too. Shouldn't ㅇㅇㅇ have found out about this and suggested it beforehand?!"

Then the managers answer and the meeting ends. After the meeting, the managers tell the employees or trainees to find out how to do what the CEO said and they go out to smoke, starting the Monday work.

Why are sales meetings always so hard?

The answer is simple. It's because they don't know how to prepare for sales meetings and what to talk about.

So how should you approach these kinds of sales meetings?

In that case, you should set up the topics by applying them to the following formula.

Sales formula

DB x Average Unit Price x Success Rate = Sales

This formula is like magic, but it is actually a very useful formula. When I asked people working in the marketing field about the sales formula, most of them couldn't answer (they may have been embarrassed to answer, but anyway), and only one person answered similarly until the beginning of this year.

So let's learn a little more about this formula.

DB (Customers)

DB refers to the number of customers. In reality, many of the advertisements we do are aimed at acquiring these DBs, and they are the main focus of acquiring DBs.

Average Unit Price (Price of a product or service)

Average unit price refers to the price of a product or service. The important thing here is that if there are multiple products, it is good to prepare them individually and also prepare them as an average value. (Personally, I prefer the average value.)

At this time, if you applied a discount due to events or coupons, calculate those sales separately and record them.

Success Rate (Ratio of successful sales)

Success rate is important. Even if you have a lot of customers and the price of your product is accurately measured, if the success rate is 0%, your sales will be 0.

For example, if you sold 100 won worth of goods to 10 customers with a 100% probability, your sales would be 1,000 won. If the success rate is 50%, then it is 500 won. But at this time, to increase sales by 2 times?

Just make DB, average unit price, and success rate into 2 times the value. (Oh! It's extremely easy!)

But is that really that easy?

Then let's apply this to the sales meeting!

Success Rate

Is the success rate something I or we can touch? Nope! The success rate is something customers choose. It's not something I can easily increase just because I want to. (Damn, then why did you even mention it?)

But will you just sit around and watch because it's hard to increase the success rate?

Increasing the success rate is about creating an environment where customers have no choice but to buy your product. The key word here is Nudge. The meaning of nudge is to gently nudge someone with your elbow, but it also refers to designing choices so that customers follow them. To increase the success rate, you need to create a "customer purchase process" so that users can play in the game I designed, setting various stories and paths. (It's easy to say, but... it's hard. I'll talk about this in detail separately later.)

Average Unit Price

To increase sales by 10 times, can you sell a 1,000 won ramen sold at a convenience store for 10,000 won?

Would you buy a 10,000 won bag of ramen? Average unit price is something that is established as a market price, so it is very difficult to increase it.

So, there's no way to increase the average unit price?

There are ways to increase the average unit price. The average unit price is closely related to the product, so when you structure your product or service, you can freely set the average unit price if you keep in mind these three things.

1. First: If I do it first, there is no established market price, so I can set the average unit price myself.

2. Best: If I'm the best at it, that's all that matters. Like the expensive watch brands we all know.

3. Unique: If I'm the only one who can sell it, that's all that matters. If there are no competitors, you can raise the price, who would you be keeping an eye on?

But it's still hard. Something that doesn't exist in the world? Me? The first? Me? The best? Me? Hahaha (It's hard, but I'll talk about the approach or related content in detail again.)

DB

DB is the easiest guy to increase sales. (Of all of them... sigh) All you have to do is gather people.

Here, set two standards and make a simple table of "What you were doing" and "What you haven't done." First, record information about "What you were doing". Record things like growth trends, average values, costs, etc. that you can record, and then figure out if there is a way to go deeper from there. Then list down "What you haven't done" and then look into success stories and how to proceed for "What you haven't done."

Just pretend you understand this far and let's have a sales meeting.

CEO: Our sales are constantly falling! Our competitors are increasing sales, why are ours constantly falling?

Marketer: Currently, our sales are not showing a big difference from the previous month in terms of customer inflow, but there is a problem in the sales success rate. It seems like the increase in the average unit price that we implemented last month is the reason for this. Comparing our average unit price with that of other companies, it was found that ours was ㅇㅇ% higher, and it seems that we need to collect more DBs to increase sales with the average unit price increased.

CEO: Then what is the way to increase DB?

Marketer: There is ㅇㅇㅇ where our target group usually hangs out a lot, and it seems like running ads here would also be a good way to do it. There was a success story of a promotion run by other companies on that channel...

If there is a sales formula, it can be a marketer's own or a meaningful meeting.

Newcomers, don't be afraid of sales meetings.

This is a tip, but there are many CEOs who run businesses without even knowing the sales formula.

Let's try to have a more proactive meeting with this one formula: )