Articles in category: Sales Management
The old adage says that the unexamined life is not worth living. This philosophy is at the heart of being great in the world of sales. Top reps are always analyzing and assessing their performance, looking for ways to improve. It would take a superhuman sales rep to close every single deal, but that doesn’t mean we can’t come really close to it.(Read Full Article)
To take an honest look at your sales performance, it’s important to understand some of the ways a deal might fall through. Obviously, there are always some factors that are outside of a pro ...
Thijs Verhees interviewed Keith Eades, owner of Sales Performance International and author of bestselling books like The New Solution Selling and The Solution Centric Organization. In a strongly changing commercial world, Eades gives us an insight in the three roles a good seller nowadays should play.(Read Full Article)
There are two types of sales managers: proactive and reactive. A sales manager who is reactive is one who is constantly fighting fires. And these “fires” are likely the same problems they were struggling with last month, too. The core problem that many sales managers have is the flawed mindset that, “I am 100% responsible for solving all team problems.”
So, salespeople hand-off their problems to their manager. Problems in customer service, order entry, you name it. They all get dumped in the sales manager’s lap. In extreme cases, a sales manager can take on the role of an ...(Read Full Article)
Professional selling has never been more challenging. A confluence of factors has created a sales environment that is faster paced and more complex than at any time in history. As a result, sales organizations and sales professionals need to be adaptive and agile – they need to effectively respond to buyers with unbounded access to information.
What Does Research Tell Us About Optimizing Sales Results?
Aberdeen Group studies over 300 global sales organizations on an annual basis to determine characteristics of “Best-In-Class” performers, who are defined by:
- Top 20% in quota attainment
- Top 20% in year-over-year revenue growth
- Top 20% in ...
Only 2% of sales happen during the first meeting and seeing the numbers in the infographic, 92% of sales people would have given up on meeting follow up by the 5th attempt.(Read Full Article)
Some sales people have the mindset that they’ll be closing a deal on their first attempt, and when they don’t, they become so disheartened that they vow to never contact the same account again.
It’s best to approach your first interaction with the knowledge that on a statistical basis, you’re highly unlikely to close the deal today. Instead, focus on building rapport first. Ultimately ...
One of the business world’s oldest traditions, the practice of paying commissions to sales teams, is under scrutiny. Is commission the best motivator?(Read Full Article)
How can you help ensure that your company moves forward, not backward, when someone takes over a sales-management position? First, create a mentoring culture within your organization that encourages employees to continue learning, growing, and developing toward leadership roles, says Lois Zachary, president of Phoenix-based consultancy Leadership Development Services and author of Creating a Mentoring Culture: The Organization's Guide.(Read Full Article)
Finding great sales reps -- reps with the ability to take your business to the next level -- is awfully hard to do. How can you possibly size up a sales candidate in a series of interviews? How can you really know how hard a complete stranger is willing to work, how he responds under pressure, how he handles adversity?(Read Full Article)
Selling Power has released its 2013 list of the 50 Best Companies to Sell For. Inclusion on the list gives companies a competitive advantage when hiring top sales professionals.(Read Full Article)
To better understand these sales management styles, Steve W. Martin of USC Marshall School of Business asked more than 60 top vice presidents of sales from leading high technology and business services companies to estimate what percentage of their time they used a particular management style, and then to rank the applicability of the style to the success in their role on a scale of 1 (least important) to 5 (most important).(Read Full Article)
Every path to a successful close is a little different. You might find key phrases, gestures, and examples that most prospects find persuasive, but each sales call presents unique opportunities and challenges.(Read Full Article)
Here are four of the most common pitfalls and solutions.
B2B sales forecasting is challenging because most B2B companies lack the large sales volumes required for statistical forecasting techniques. As a consequence, those companies that care about their forecasts usually choose one of two methods, the weighted pipeline and forecast categories. Both are easy to implement but have notable drawbacks.(Read Full Article)
Use the framework of focusing on the 5 key elements of sales management or the 5 P’s – People, Planning, Process, Pipeline and Performance - to help identify ways to grow sales.(Read Full Article)
If salespeople wait until it’s time to close the deal to put their negotiating skills to work, they may fall far short of their goals and their chances of building a long-term client relationship will quickly fade away.(Read Full Article)
Much has been written about what makes for a good sales manager and effective sales management strategy. But as every sales rep, manager and executive knows, it's often the intangibles that separate good sales managers from the great ones.
This article identifies seven key attributes in the best, most successful sales managers.(Read Full Article)
No doubt you have heard of the seven cardinal sins of the Christian faith – wrath, greed, sloth, pride, lust, envy and gluttony? But did you know that there are also seven lethal sins of selling? They’re deadly because they’re toxic to your business and your bank account.(Read Full Article)
The reality is that competing on price alone is a loser’s game. There will always be someone who can undercut you. There will always be someone with a bigger advertising budget, more people on their salesforce, more creative ways to lure people in.
So maybe it’s time to stop thinking about competing. Maybe you should stop spending your time, energy, and money working a marketplace where your voice is easily drowned out by others who will always be able to shout louder than you can. Maybe you should be just doing what you do best.
Paradoxically, it’s ...(Read Full Article)
The following post is in response to the Harvard Business Review Article: Ten Reasons Salespeople Lose Deals.(Read Full Article)
Mentions: Harvard Business Review
When it comes to sales coaching, there is no silver bullet. But intense focus and alignment coupled with the right kinds of conversations with representatives can make a dramatic difference in the output of your sales organization.(Read Full Article)
Those who claim BANT is dead in lead generation couldn’t be further from the truth. The value of inquiries is initially judged by the amount of BANT information they contain (Budget, Authority, Need and Time frame).
Those with qualification information (BANT) can be sent to Sales immediately. Those without, should first be called, qualified or dismissed and then sent to Sales.
A real sales lead, because it is qualified, reduces cold calling, feeds the sales pipeline, introduces salespeople to new people within companies, and opens up new markets. Yet only about 25% of inquiries come ...(Read Full Article)
At the end of the day, sales rep adoption is the lowest common-denominator. In the case of training and technology, even if there is perceived value to the rep, it needs to be easy to ‘consume’. Reinforcing sales training and changes in sales processes is hard to sustain, particularly when it’s a moving target.(Read Full Article)