Dominance Vector Interview
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Transcript of Dominance Vector Interview
VECTOR MARKETINGWELCOME TO THE INTERVIEW
WHAT YOU’RE APPLYING FOR
SALES REPRESENTATIVE POSITION
Everyone in our company starts here
Only promote from within
Advancement Opportunities
Field Sales Manager
Cutco Sales Professional
Sell Cutco Full-Time
Qualify for Company Trips
Great Income
Flexibility
Miles Tucker Annie Kaftan Marissa Gibbons Aaron Sahr Nic Ruiz
Advancement Opportunities (Cont.)
ASSISTANT MANAGERS
Help with office operations
Can be Full- or Part-Time
Leadership Opportunity
Fast Advancement Opportunity
Advancement Opportunities (Cont.)
BRANCH MANAGER
Position for College Students
Run an office May – August
Average Age: 18-21
Great resume’ experience
Lexi Osting Joe Frigolette Jessi Patterson Dan Rasper
Advancement Opportunies (Cont.)
DISTRICT MANAGER
Career Position
Business Owner/Entrepreneur
Trips, bonuses, great lifestyle
Average Age: 26 years old
Keyla Kendall Desiree Flynn Nate Reddick Mandy Reardon
WHAT I’M LOOKING FOR
POSITIVE ATTITUDE
STRONG WORK ETHIC
WHY?
Self-Motivated
Positive Attitude
Our Team
Hudson Valley-East Territory
Dutchess County Dominance
GOAL 2013:
$350,000 Sales
#1 New District Office in Mid-West Region
$50,000 for remainder of Fall.
Our Team (Cont.)
We are building our team.
I can hire whoever I want.
Interviewing against yourself, not the other applicants.
What we will cover…
COMPANY
PRODUCT
MARKET
SALES PROGRAM
PAY
TRAINING
PERKS
FINAL EXIT INTERVIEW
CUTCO in the classroom…
BUFFALO STATE UNIVERSITY’S EMPLOYER OF THE YEAR – 2008
REFERENCED IN 6 COLLEGE TEXTBOOKS
TAUGHT IN 5 CLASSES ACROSS THE UNITED STATES
Tips For The Interview:
WRITE DOWN ALL QUESTIONS
GET INVOLVED
ANSWER ALL OF MY QUESTIONS
Some easy, some challenging
BE PROFESSIONAL
BE YOURSELF
COMPANY – Vector Marketing
Exclusively markets CUTCO Cutlery and Ka-Bar products
Founded In 1981
3 Offices in Philidelphia
$750,000 in sales
2012
400+ Offices in every state
$253 Million in sales
COMPANY – Cutco Corporation
Established in 1949
All cutlery is made in Olean, NY.
750+ Employees
Average Employee Tenure
16 Years
COMPANY – Who We Work With
STUDENTS
NON-STUDENTS
CAREER PROFESSIONALS
COMPANY – What do our people want from us?
PAY
SCHOLARSHIPS
COLLEGE CREDITS
RECOGNITION
COMPETITION
EXPERIENCE
COMPANY - EXPERIENCE
USA TODAY - “Dime a dozen.”
How long does a manager look at a resume’?
University of Michigan Study
Where VECTOR comes in
Wall Street Journal – “#1 Stepping Stone Job”
President’s Club Award
PRODUCT – Cutco Cutlery
Kitchen Cutlery Sets
Specialty Knives
Accessories
Gadgets
Cookware
Gift Sets
Hunting/Fishing Knives
Sporting Knives
Garden Tools
PRODUCT (Cont.)
3 Types Of EdgesStraight Edges
Serrated Edges
Cutco’s Double-D Edge
PRODUCT (Cont.)
HOW MANY OUT OF 10 CUSTOMERS PURCHASE?
Closing Percentage
National Average = 60%
Office Average = 70%
WITH EXPERIENCE THE AVERAGES INCREASE
PRODUCT (Cont.)
AVERAGE ORDER SIZE
$250 Average Order
Payment Plans
2 Months
3 Months
5 Months
EXAMPLE:
$250 Order / 5 Months = $50 Per Month
No Interest – Ships Immediately
WITH EXPERIENCE THE AVERAGES INCREASE
MARKET
WHO BUYS OUR PRODUCT?
99% of our sales are from average Moms & Dads
Married, Middle-Aged, Middle-Income, Middle-Class Families
Median Household Income = $71,000
High Population: Rural & Urban
Different Seasons: Hunting, Fishing, Gardening, BBQ’s
AS THE ECONOMY HAS GONE DOWN, OUR SALES KEEP GOING UP! WHY?
Recession Proof Product: People eat at restaurants less and cook at home more.
AMERICAN-MADE
MARKET (Cont.)
WHY IS THERE SO MUCH DEMAND FOR CUTCO DURING SEPT. – DEC. MONTHS?
Hunting
Fishing
Tailgating
Thanksgiving
Gift Purchases for Holiday Season
THE FALL IS ONE OF THE BIGGEST TIMES OF THE YEAR FOR OUR COMPANY
SALES PROGRAM
WHAT IS THE MOST EFFECTIVE FORM OF ADVERTISING?
Word-Of-Mouth Advertising
Average 5-10 Recommendations per appointment.
SALES PROGRAM
Who does the typical customer recommend?
Friends
Family
Neighbors
Co-Workers
Between friends, family, neighbors, and co-workers…How many contacts do you think the AVG. family has?
HUNDREDS
SALES PROGRAM (Cont.)
HOW IT WORKS
Alexis Hidalgo: Shows product.
“Who do you know who would be nice enough to take a look?”
Customer gives recommendations a “heads-up” phone call, e-mail, or text message.
SALES PROGRAM (Cont.)
HOW IT WORKS (Cont.) P P P5 5 5
15 Apptsx 5 Recos.
= 75 Recos.x 5 Recos.
= 375 Recos.x 5 Recos.
= 1,875 Recos.
SALES PROGRAM (Cont.)
FLEXIBILITY & CONTROL
LOCATION
No Boundaries
5-10 Mile Radius from where rep lives
Virtual Demo
Transfer to other offices
SALES PROGRAM (Cont.)
FLEXIBILITY & CONTROL
SCHEDULE
Part-Time = 7 Appts/Week 1/Day on Avg.
Full-Time = 15-20 Appts/Week 3/Day on Avg.
Reps can schedule appointments whenever they want.
PAY
Two-Sided Pay Scale
Base Pay
Incentive Pay
Reps are paid weekly
Direct Deposit
Paper Check
PAY – Base Pay
$13.50/Base-Appt.
Appointments last approximately 1 hour.
Some less, some more.
EXAMPLES:
10 Appointments x $13.50 Base Pay
$135.00 Guaranteed
20 Appointments x $13.50 Base Pay
$270.00 Guaranteed
30 Appointments x $13.50 Base Pay
$405.00 Guaranteed
QUALIFIED CUSTOMER:1) At least 25 years old2) Employed Full-Time3) 1-On-1 (No Group Demos)
$13.50 X 20
appts = $270 Base Pay
Rep Sells $1000Rep Earns $100 on Incentive
Either/Or Whichever is Greater Rep is paid: $270 Base Pay
PAY – Example: Rep 1 – 1st Week
$13.50 X 20
appts = $270 Base Pay
Rep Sells $3,000Rep Earns $400 on Incentive
Either/Or Whichever is Greater Rep is paid: $400 Base Pay
PAY – Example: Rep 2 – 1st Week
$13.50 X 20
appts = $270 Base Pay
Rep Sells $6,000Rep Earns $1,000 on Incentive
Either/Or Whichever is Greater
Rep is paid: $1,000 Base Pay
PAY – Example: Rep 3 – 1st Week
PAY – Incentive Pay
10% X $250 Avg. Order= $25.00 1k 15% X $250 Avg. Order =
$37.50 3k 20% X $250 Avg. Order =$50.00 6k 25% X $250 Avg. Order =$62.5010k 30% X $250 Avg. Order= $75.00
PAY – Incentive Pay (Cont.)
GET TO 30% AS QUICKLY AS POSSIBLE $2,000 Cumulative Income
Work Part-Time, Earn Full-Time
PAY – Incentive Pay (Cont.)
PART-TIME EXAMPLE:
7 Appointment
s X 60% Sales = 4 Sales
4 Sales X $250 Avg.
Order= $1,000 in
Sales
$1,000 in Sales X 30%
Commission= $300.00
Income
PAY – Incentive Pay (Cont.)
FULL-TIME EXAMPLE:
15 Appointments X 60% Sales = 10 Sales
10 Sales X $250 Avg.
Order= $2,500 in
Sales
$2,500 in Sales X 30%
Commission= $750.00
IncomeBONUS LEVELS: 40%, 45%, and 50% Commissions.
TRAINING
Designed specifically for people without prior experience
Split into 3 Phases
PHASE 1: INITIAL SEMINAR
3 Consecutive Half-Day Sessions (In the office)
Learn The Basics
Practice the presentation with other Trainees
Trainees are provided with ALL materials needed.
PHASE 2: Paid Practice Presentations
Who would a brand new representative, who just completed training, feel most comfortable practicing on NEXT?
Family
Friends
Neighbors
PHASE 2: Paid Practice Presentations
Reps paid to do practice presentations with people they are comfortable with.
Confidence
Feedback
“There’s no pressure to buy anything.”
Reps begin building their base of recommendations.
P P P15 apptsx 5 recos.75 recos.
PHASE 2: Paid Practice Presentations (Cont.)
In-Home Presentation
Virtual-Online Demo
Reps without transportation.
Customers out of the area.
PHASE 3 – Ongoing Training
P.D.I. = Personal Daily Interaction
Q.P.R. = Qualified Presentation Report
P.C. = Personal Consultations
F.T. = Field Training
Weekly Team Meeting
T.N.O. = Team Night Out
Conferences
PERKS
SAMPLE KIT PROGRAM
Valued at $270
No Deposit/Down Payment
TAX ADVANTAGES
Independent Contractor
SCHOLARSHIPS
INTERNSHIP CREDITS
FUN
INCENTIVE TRIPS
RESUME’ EXPERIENCE
OFFICE EXPERIENCE