The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-01-08
BANKER TALKS
ON SALES
By RICHARD HATTON

Perhaps there 10 no business
which has so many qualifications
and angles as that Of banking. The
banker il not merely the custodian
OF funds and the arbiter of credit.
He must, by the very nature Of his
contact and his dealings, be con.
versant with intimate details re-
gaFding many lines Of commercial
and business enterprise.
President John Poole, Of the Fed.
eral'American Bank, is one of the
keehest students of business prob.
lens In the country. In an article
In the current number Of Printers
Ink he has set forth an answer to
the question, Are There Too Many
statesmen" which will be Of great
interest to all business men.
Unquesttonably, there are too
many statesmen Of all kinds" SAYS
Mr.. Poole in his opening PARAGRAPH.
and he states further:
American industry has developed
eaiesmansh1p TO an astonishing de-
gree.
Our manufacturers have pro.
duced large volume to secure low
prices. ana the volume must be
sold =
when a manufacturer enlarges
his plant, the first thing he thinks
OF and plans for. as q rule. is the
employment of more statesmen to
cover more territory in order to
take care Of the increased produc-
ton. -
Therefore, we have had a sort
Of endless chain In the employment
OF statesmen, and we now have more
statesmen In the country than our
avaiiabie source of buyers can find
Slme to listen to. Consequently,
there is much waste in selling.
Untneasured Waste
In my opinion this large and
uElmeasured waste is due to the de-
vetopment of only one factor Of
selling. Our sales MANAGERS have
employed their forces in selling one
buyer out Of four or some other
number.
with a ratio established, their
ldea Is to encourage more calls ON
the part OF their statesmen.
Or they send new statesmen into
new territories In the expectation
that they viii sell one prospect in
Scr.
I'm ali Of this, obviously, there IA
much lost time and expense. After
AL, the salesman is only one Of
several direct selling factors, and
there Is no doubt that his develop.
- 10
.pense OF other factors.
Il do not think that we have
developed ADVERTISING to one.half
OF Its potential influence in the sell
ing Of merchandise,
do not think that we have
used sufficiently scientific methods
In the. selection OF buyers as pros
poets for statesmen, and l have
never heard two manufacturers de.
fine a prospect in the same terms.
Percentage Of Sales
III these other selling factors
were scientifically developed and
applied, there Is no reason why q
salesman should not sell nine out
OF ten Of the buyers on whom he
calls, Or at least very much
higher percentage than the average
salesman now sells.
"As a consequence, there would
DO fewer statesmen employed, the
buyers would have more time to
devote to the study of their mer'
chandise, goods would be distributed
at lower cost, and we would all be
happier,
Mr.. Poole gives Sc Il concrete
- ~ - HfNaA and an.
ergy and suggests:
1.-THE study Of classes as prospect
i've buyers has had too little atten-
tion, and I believe that It has enor.
NOUS potential value. People en-
gagged in different occupations and
lines Of work have different habits
Of thought, different wants.
Therefore, ! believe that a sci
entific study Of the purchasing de-
n1ands Of various classes would re-
suit in information that would ma
terially reduce the percentage Of
unsold prospects"
Due For Overhauling
IAN of the signs indicate" con-
system OF selling merchandise Is
uuG IOV Au OESA OH
convinced that the correction Of
lost motion and expense in the field
Of selling by personal solicitation
will furnish, a decidedly worthwhile
contribution to the sum total OF
the results secured by the national
campaign for the elimination OF
waste In industry.
when statesmen cease to waste
time ana money on the kind Of
nneconomicaI selling which / have
outlined, the question. "are there
too many salesmen?" will be
answered. at least in a large meas.
ure. Scattered selling is like scat.
tered artillery fire; it IL effective in
some intances but represents o
waste that is not present II all
efforts are directed toward definite
targets,