Criticality of Time Management in Sales and Marketing
Time is money. Who knows this better that those who work in finance and related sectors. Most of the people in this field know the importance every second holds. The market fluctuates within fraction of seconds. Even a right investment at the wrong time is fatal. Not being able to generate leads on time significantly effects the growth of a company.
Additionally, not getting associated with a certain plan at the right time often decreases the profit levels. Therefore, it is of outmost importance that time is valued as a precious resource and utilized well.
Timely SWOT Analysis
The famous model of SWOT (strength, weakness, opportunity and threats) of an organization or an individual helps in better decision making. The model should be updated from time to time in order to keep up with the current scenario of the market.
Likewise, it is important that any changes in the market must be noticed immediately. Stale news is of no use. Hence the staff must be trained in a certain way that they value time.
A prospective client may get turned off by viewing a very long product/profile presentation. No doubt that a short presentation will save yours and your client`s time but it may not be able to provide the actual picture of your plans.
Keep the focus on what you want to project. Use bullets to express the points and use more photographs than text. The rest of the talking can be done by the presenter. Simple tips like this can will save over all time of everyone.
One person I know who works as part of a sales development team often says that he charges his client on per minute basis. That is how much he values his own time.
Hence, rather than having a short presentation you should have precise presentation which is both cost and time effected.
For Online Sales and Marketers
Do a focused research and do not get carried away by attractive advertisements that are given online. Those who use online tools and social networking for sales and marketing must make sure that the team is professionally driven.
Do your work smartly. For example, rather than shooting mails to all the email-IDs in the database, take some time to analyze the profiles of the people you are assuming could be your future clients.
From marketing point of view, do your home work to recognize typically prospective clients. Shooting out arrows in dark is only going to waste time and energy of the staff.
Goals should be categorized into short term and long term goals. Set deadlines and make all possible attempts to achieve those goals in the given time. If a certain method is failing to provide you with the desired results then change the methodology of work immediately.
In order to effectively manage time, ask the staff to maintain an hourly excel sheet of their work.
Waiting Period While Lead Generation
This is a common problem in MLM industry and insurance sector. The executives have to wait for a long time until a sale is made or a lead is generated. This time must be utilized constructively by planning further sales and doing productive research.