World Class Retail Sales Strategies - Canto

World Class Retail Sales Strategies - Canto

World Class Retail Sales Strategies for Telecommunications, Wireless and Cable Television Operators Melissa Harris, MBA CEO, Telecom Training Corporation CANTO Sales, Marketing and Customer Care Forum August 4-5, 2016 1 Agenda Retail Sales Evolution Retail Goals for Telecom Six Step Customer Focused Retail Sales Process 10 Tips for Retail Sales Success

Benefits of a Customer Focused Retail Strategy 2 www.telecomtrainingcorporation.com Retail Sales Evolution Company-owned and agent-owned retail stores provide the majority of revenues Radical transformation of retail sales channel since mid-1980s Retail store strategies introduced more than 5 years ago are now out of date Consumer research

Technology Innovative market leaders 3 Retail Goals for Telecom Create the same type of experience provided at the worlds top retailers Provide a superior retail customer experience to increase: Sales

Customer satisfaction Loyalty Marketing alignment with retail Promotions, Social Media, Website, Chat, Collateral, etc. Increasing NPS (Net Promoter Scores) Consistent call center upselling / cross selling approach Company-wide decisions made from the customers perspective 4

Six Step Customer-Focused Retail Sales Process 1. Greet 2. Build Trust 3. Recommend Value-Based Solutions 4. Gain Agreement & Manage Objections 5. Prepare & Set Expectations 6. Appreciate and Wrap-Up 5 1. Greet a) Provide a warm, sincere, and friendly greeting within 10 seconds of the customers arrival and within 10 feet of entering the shop b) With a smile, introduce yourself by first name and ask the customers name c) Ask the purpose of the customers visit and assure them you can help

6 2. Build Trust a) Address the customer by name, maintain eye contact, & give them your undivided attention b) Show enthusiasm, demonstrate an attitude of genuine caring & exhibit a desire to help c) Ask questions and actively listen to discover their specific needs d) Confirm understanding of & empathize with their needs 7 3. Recommend ValueBased Solutions

a) Offer relevant features & benefits to address their needs (even those they are not aware that exist) b) Use the appropriate approach for the customers personality & technical knowledge c) Build value before discussing price d) Take ownership of problems, resolve during their visit, & let them know how you solved them e) Keep your customer informed when you are using a system, call for assistance, and you must step away 8

4. Gain Agreement & Manage Objections a) Look for verbal & non-verbal signals to know when to summarize your recommendation b) Listen carefully and ask questions to clearly understand objections, respond appropriately, and check for acceptance 9 5. Prepare and Set Expectations a) Set up the equipment (social networks, voice mail, email, transfer contacts) from old device b) Demonstrate how to navigate device & use preferred applications & favorite features

c) Tell them about on-line resources for more details d) Summarize key information to avoid surprises (proration, billing cycles, pricing after promotions expire, installation dates, termination fees, etc.) e) Check to see if the customer is comfortable concluding the transaction 10 6. Appreciate and Wrap-Up a) Ask if there is anything else you can help with b) Give the customer your business card so they can contact you with questions

c) Ask for referrals and to please submit a rating of 10 on an email survey they will shortly receive d) As you walk the customer to the door, use their name and thank them for being a valued customer of your company 11 10 Tips for Retail Sales Success 1. Championed by the C-Level team of an organization 2. Aligned with the company mission, vision, values and marketing strategies 3. Reinforced by knowledgeable and experienced Retail

Supervisors/Managers in daily/weekly sales meetings and one-on-one coaching sessions 4. Led by retail sales managers/supervisors who have effective leadership skills such as: Setting specific, measurable, actionable, realistic, and timely goals Frequently providing positive and corrective feedback Leading effective one-on-one coaching sessions Having counseling meetings when performance does not meet expectations

Providing quarterly performance review updates so that 12 there are no surprises during the annual performance review meeting 10 Tips for Retail Sales Success 5. Supported by clear processes and procedures to empower retail sales associates to resolve customer issues during one customer interaction instead of escalating to management 6. Sustained by the annual, monthly and daily sales objectives and results 7. Embedded in the job description and annual performance review plan affecting commission and bonus reward systems 8.

Incorporated in training new retail sales associates 9. Ingrained in the existing retail sales team 10. Supported by other parts of the organization (e.g., engineering, tech support, billing, collections, etc.) who have a committed sense of urgency and 13 accountability in responding to requests to resolve customer issues in a timely manner Benefits Of A Customer Focused Retail Sales Strategy Increased New Sales and Upsells/Cross Sells Improved Net Promoter Scores (NPS)

Enhanced Customer Satisfaction Reduced Churn Increased Employee Productivity And Engagement Reduced Employee Turnover And Associated Hiring Costs 14 Contact Info Melissa Harris, MBA President, Telecom Training Corporation

615 298 5429 office 615 838 2535 cell [email protected] om 15

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