JAN
16
0

Want my advice about sales? Here are some tips you can take to the bank!

Stumble. Fall. Get up. Repeat. This is the way we learn valuable lessons in life. A career in sales is no different. My sales career has spanned the pre-internet era to present day. Change is constant. Increased transparency has brought sunlight to the buyer-seller relationship. Knowledge, creativity, and collaborative skills are in demand.     To my friends, clients, professional peers, college graduates, and people transitioning in their career I offer this advice about the sales profession; The best sales jobs are the ones that have high quality people in sales management positions. Let's discuss what you should look for when considering a position in sales, customer service or a call center.  If the most attractive part of a new sales job offer is the income potential, you are using the wrong metric. People, purpose, professional development, and culture must be factored in. If you have gone more than six months...
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  625 Hits
625 Hits
JAN
01
0

Measure This Metric To Guarantee Explosive Sales Growth

I had a conversation recently with a business owner about the challenges of finding good sales people. His frustration was obvious. He talked about the time and resources he has invested to find, hire, and train salespeople only to have them leave within the first year or two. Has this happened to you? The cause of this problem is related to the change in how our economy values talent. During the industrial economy the salesperson was trained to know the features, functions, and benefits of their product. Armed with this information the goal was to get in front of as many buyers as possible to, in essence, show up and throw up . There was no understanding of the needs or critical issues in the prospect’s mind. You had value if you could study, retain, blurt out…repeat.    Related: Why "Show Up and Throw Up" Doesnt Work in Sales We...
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  951 Hits
951 Hits
DEC
14
2

5 Things You Must Include in Your Annual Sales Plan

Year end in the sales department is a time for evaluation. What successes did you have? What can be improved in the future? There are a variety of metrics to conclude whether it has been a good year, or not. The ones I see most often are: Revenue , which is arguably the most important. Average sale size. Conversion rate , the percentage of leads/opportunities that were converted into sales. Percentage of team hitting quota . New business, retention, and attrition . How many new customers were attained, how many renewed, and how many walked away? When I see organizations that didn’t have a great year I look at their metrics and begin pulling on that thread. Pulling the thread is a diagnostic process that should uncover a weak link in the sales process. I can’t help but think about Stephen Covey and his 7 Habits of Highly Successful People...
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  923 Hits
923 Hits
NOV
30
2

"Let me think it over." Turn this stall into a sale

There are 3 guarantees in the life of a salesperson: Death Taxes Having a prospect say; “ Let me think it over ” It’s the grey area of the decision making process that frustrates the hell out of salespeople. It feels worse than getting a NO . A NO will allow you to move on even if you are frustrated and feel you have earned the business. There is closure. You can focus on to the next prospect. Let me think it over . Now what? What’s missing in most sales conversations is an agreement at the beginning about expectations and possible outcomes of your meeting.  When you are in position to sell you can become consumed with the steps you need to take to close the sale. You are in control, or so it seems. In order to have a conversation there needs to be two willing partners. There...
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  752 Hits
752 Hits
NOV
21
0

7 Steps to Creating and Achieving Meaningful Goals

What is the elusive quality that separates the superstars from the masses? It is their ability to set and achieve personal and professional goals. Goals keep you focused on your desired outcomes, rewards, and vision. A goal-oriented salesperson operates with purpose, and purpose is a powerful motivating force. Note the word “purpose.” Your sales organization has a purpose, and each individual producer has a purpose. It’s important to understand this link to goal achievement. The American Society of Training and Development (ASTD) did a study on accountability and found the following statistics about goal achievement: The probability of completing a goal if: You  have  an idea or a goal:  10% You  consciously decide  you will do it:  25% You decide  when  you will do it:  40% You  plan how  you will do it:  50% You  commit to someone  you will do it:  65% You have a  specific accountability appointment  with...
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  951 Hits
951 Hits
NOV
14
0

Salespeople are ONLY Motivated by $$$. Don’t Buy This Line of Bull

There is a difference between the desire for performance based income and being motivated exclusively by money . Salespeople want to be paid commensurate with their efforts. Top salespeople parlay their salary, commissions and other incentives into being some of the highest earners in their company. Money is important, but there is more to understand with this issue. The challenge in many sales organizations is that they tend to overlook the unique motivations and drivers of each of their producers, and this lack of understanding hurts productivity and retention. The stereotype that underlies “salespeople are only motivated by money” comes from the carrot/stick incentive, which is defined as extrinsic motivation . If Julie sells more, we pay her more. If Ted doesn’t hit quota, he earns less than he would if he had. Therefore, most sales compensation plans come from the understanding that more is better and vice versa. What...
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  785 Hits
785 Hits
OCT
31
0

YOU COST TOO MUCH!! Overcoming the Dreaded Price Objection

“ The reason it seems that price is all your customers care about is that you haven’t given them anything else to care about .” – Seth Godin Whenever a sale is lost because of price the reaction is priceless . The salesperson is frustrated. The boss wants to know how the sale fell apart. Desperate sales organizations look for microscopic ways to shave price in the future. The more you shave price, your margins and profitability shrink. As a philosopher once said; “ as you race to lower your price, there will always be someone else willing to go out of business faster than you . ” Why is it that someone will pay handsomely for Filet Mignon when a Big Mac is available for a fraction of the price? How does Maserati justify a price tag well north of $100K when a Chevy has four wheels and can...
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  1014 Hits
1014 Hits
OCT
19
0

The Secret to Hiring the Best Salespeople

Turnover in the sales department is costly and disruptive. Average turnover in sales is 25% annually. The average ramp-up time for new salespeople is between six and nine months. That’s a lot of lost revenue for your company. Customer relationships are impacted. Business owners, CEO’s, and sales leaders search for a process that will attract and retain the best people while keeping turnover to an absolute minimum. Unless you have a candid exit interview with a cooperative salesperson you may not get a straight answer about why people are leaving your company. The grass may be perceived to be greener elsewhere because of the comp plan, or they didn’t like their boss, or performance could have been substandard. Whatever the reason for the departure it becomes imperative to take steps to learn how to mitigate the problem. Sales turnover typically begins in the hiring process. In many cases the hiring process is...
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  1053 Hits
1053 Hits
OCT
19
1

Why “Show Up and Throw Up” Doesn’t Work in Sales

Missing sales quota month after month drives sales managers crazy. There are numerous possible factors. Here’s a situation I see often… The “ACME” sales team is made up of knowledgeable, personable, well intentioned, goal oriented salespeople. They are getting in front of prospects and making presentations, yet their closing ratio is low. Follow up calls are being ignored. Competitors are winning the business for reasons unknown. A sense of desperation sets in that threatens the culture of the entire sales organization. Something needs to change or changes will be made by management. Upon closer look it turns out the sales conversations are one sided, and aren’t conversations. The term “show up and throw up” refers to the pitchman of the past. Salespeople do not see themselves throwing up. It is a term of non-endearment from the buyer. Salespeople were encouraged (not trained) to lead conversations enthusiastically about their product, its...
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  1127 Hits
Recent comment in this post
mitch
what a great article Michael
Thursday, 19 October 2017 17:29
1127 Hits