BB # 4 Reply & Question

Come up with reply and question to the following post:”
Since the day I entered the workforce, I have been conducting sales in many forms. From Inside sales with a hundred prospect cold calls a day, at retail, outside sales and till this point working as Business Account Executive. The sale is indeed the act of presentation and as well as representation.  When it comes to sales, the key to obtain the imminent sale method is by building a smooth rapport with customers or clients in the first impression.  Any successful sale individual would pursue a sale with questionnaires but not a hard-selling technique. The hard-selling method will literally make customers feeling uncomfortable and it is just leaning towards the failing point. Customers are willing to work with sales associates who are proficient in product knowledge, charismatic and most importantly having a positive attitude.  These all are the gist of the sales method and customer relation in a brief.
Now, it comes down to the point for discussion 4. The scenario is that the high-end boutique store sale is declining and receiving customers negative feedback and how shall I carry it back to the busy and optimistic working environment. The irony is that sales associates working at the boutique store selling high-end clothing brand only making $15 per hour. Actually, I am not surprised at all their business is in decline since they don’t show much of the value even to their employees. Since there is no extrinsic motivational determinant, in order to have that intrinsic motivation is on a divergent path. To verify the concept of principal-agent rule, I believe there might be a manager or supervisor who is working on behalf of the owner. First of all, I have to initiate with that individual to evaluate his or her performance. I am pretty sure any manager or supervisor is working with percentage bonuses, they are distributed 1 to 2 % of the bonus from the revenue of monthly sale cycles. In this incident, the sale is actually declining, then there may not be any sales bonus at all for a sales supervisor or a manager. Leadership is extremely important, too. If these leaders who are leading the sale in the retail store doesn’t have what it take to lead and influence others to motivate, we may as well switch that person with someone whose skills are aligned with leadership. Secondly, it absolutely doesn’t make sense to subsidize a $15 per hour wage, I don’t believe in commission at this point, because the business is in decline, we need to raise the hourly wage to at least $18 plus incentive bonuses. That might be bold and risky but we have to try it no matter what. In this point in time, we need to attract customers with promotions, discounts and we even need to rely on social media paid advertising page as there are blowout sales going on to invite more customers. Along with that, we should introduce a referral program, loyalty discount and so on. Who doesn’t love deals? Everyone does! After I rated $18 per hour minimum wage for my employees,  I will put employees into a group and divide each group. If I just started announcing base pay plus commission, there won’t be any unity and they will conduct the hard-selling method to customers, then we won’t make any sale afterward. Also, the commission structure is also competitive, unless I divide them into groups, each sales associate will literally prove the first come first serve technique. It doesn’t look good and lacks a class when sales associates are targeting on one customer. That’s the reason why I will divide them into a group, introduce my employees with a bonus incentive structure. I will pay every bonus check equally every single week. That will intrigue them to work in a healthy and united competition group in order to gain more sales. The incentive includes other bonus items such as store discounts, draft pick for prizes and many other fun structural bonuses.  Now, it seems like an apparent and enjoyable working environment. I will substitute the current store manager with the hardworking and stupendous individual in order to change the culture back to the fun and active working environment. Since that boutique store is in Manhattan, with this improved new strategy and hierarchy, I am confident that everyone will be giving their best to meet the demand and we will make sure that we can extend our business for many years from now on.
To sum up, this is how I will intervene and shuffle, improve and readjust all these flaws and get it back to the retail environment where everyone will be euphoric and attentive to present the best value for the interest of customers and the business. “
 
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