NOV
14
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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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0
  769 Hits
769 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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  993 Hits
993 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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  1035 Hits
1035 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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  1112 Hits
Recent comment in this post
mitch
what a great article Michael
Thursday, 19 October 2017 17:29
1112 Hits