SMT007 Magazine

SMT007-Feb2024

Issue link: https://iconnect007.uberflip.com/i/1515304

Contents of this Issue

Navigation

Page 15 of 67

16 SMT007 MAGAZINE I FEBRUARY 2024 you would pay in marketing to get 20 NDAs? If your rep is doing it, you now have the names, a signed NDA, and customers who want to do business with you. Maybe they're just helping a friend, but who cares? You're now connected to those customers." Matties: What's their response? at they've been promised pots of gold that never deliver? LaRont: It is oen the perception of business owners that they are overpaying their reps. Are reps really worth it? Beaulieu: It's more basic than that. Owners don't like reps and vice versa. e rep part I've already talked about; it takes too long, and the owner has been burned by reps in the past. Most owners understand manufacturing better than they understand sales. Barry, you've seen that when your sales are down, they fire their salespeople and buy a drill. at kind of think- ing is still out there. Matties: How do we help the industry reimag- ine selling, the value of marketing, and the value of a rep? Dynamics have changed. Beaulieu: I'm actually more encouraged about marketing. More companies are interested in it, so the next step is getting them to be patient with the process. Direct sales has some issues that need to be addressed: ere needs to be better training, salespeople need to be in it for the right reason, compensation needs to be addressed, and we need to catch up the younger generation. We skipped a generation, and we need leadership. Matties: What do you think the customer wants from a salesperson these days? Beaulieu: On the non-technical side, they want an advocate, someone who keeps the relation- ship smooth, and gets their voice inside the company. ey want someone who has solu- Beaulieu: In our industry, reps are salespeo- ple, so they need the AE because there's a feel- ing that you'll get more "truth" from the AE. People have that sense, whether it's true or not. e customer will believe the AE more than someone with a sales title on their busi- ness card. LaRont: Why do we need reps? Beaulieu: A rep has special skills to bring peo- ple to the table. When you know the accounts you want to go aer, you look for a rep with equity in those accounts. ose reps have established the relationships you need. Matties: How does the board shop overcome the compensation challenge of that first dollar earned being six months away? Beaulieu: I have an idea that I'd like to see gain traction: You pay for progress and accomplish- ment. For example, you bring in an NDA and that earns you $500. You get the first quote and that's another $500. If these are accounts you weren't doing business with before, it's worth making those payments on those mile- stone payments. e rebuttal I get is, "What if they just have a lot of friends and bring in 20 NDAs?" I say, "Great. Do you know how much Marcy LaRont

Articles in this issue

Archives of this issue

view archives of SMT007 Magazine - SMT007-Feb2024