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How Your Parents Set You Up For Failure in Sales

Many business owners that have to sell their products and services and the people that are tasked with selling for them have never considered themselves as sales people.  I have heard it many times, “I am not a sales person and I am not comfortable with selling”.  It’s not your fault and you can blame it on your parents.

What did your parents tell you while you were growing up?

  • Don’t talk to strangers
  • Don’t bother that important person
  • That person doesn’t care about what we do
  • It’s not polite to talk about money

What do you have to do in sales?

  • Talk to strangers
  • Bother the important people
  • Talk to people that should care about what you do
  • Talk about money

It is time to get over the notion that you are not a salesperson.  Sales is nothing more than having a passion for what you represent and being able to transfer that enthusiasm to others, like potential customers.  If you believe in what you represent, just talk to people about it and make sure they are the right people or are people that know others that can benefit from what you represent.

Be sure the people you talk to are strangers, be sure they are important, be sure they are the person that you can provide value to and the person that can make sure you get paid.

Why Great Sales People Should Act Like CEO’s

“You are the CEO of your territory so you should act like one.”  I was told this all the time during my years of selling and leading sales teams in various industries. I have since passed this advice on to every sales person and sales team that I have worked with since I started my practice.

More than any other position in the company, sales has a tremendous amount of autonomy and like a CEO, this freedom gives the sales people an infinite amount of latitude in how they are going to achieve their goals.  Sales performance is based on success like that of a CEO and therefore the best sales people should approach sales like they are a CEO.

What should sales people and CEO’s have in common?

They leverage others to help – they don’t try to do it all themselves.  Great sales people know how to leverage the entire organization. Good and average sales people try to do it all themselves.

They show leadership – without leadership it’s impossible to gain the support of the organization, to build support teams, to rally the client, and get those teams you need behind you.

They have problem solving skills – problem solving is one of the greatest, unmeasured skills today. Great CEO’s solve problems. Great sales people solve problems for their company and their clients.  They have an uncanny knack for understanding how to get around hurdles, address challenges and accomplish what others can not.

They have Business Acumen- It goes without saying that CEO’s have great business acumen and unfortunately, most sales people do not. Sales people should embrace business knowledge and grow their understanding of complex and simple business concepts.

They take Risks – by definition, CEO’s take measured, calculated risks.  They understand that nothing is guaranteed and growth comes from expansion. Selling is no different and the best sales people take risks.  They understand the next big sale does not come from doing what everyone else is doing.

They have a Vision – Like CEO’s the best sales people have a vision and they see the forest through the trees.  They can see where the industry is going and see where their clients “need” to go. They know when a product is going to loose its edge 12 months in advance and use that to their advantage.

They are committed to personal development – CEO’s become CEO’s because they are constantly striving to get better, embrace personal development, and are always growing their skills.  The best sales people are constantly evaluating their skills and should always strive to get better. They know what they are great at and what they need to get better at.  They leverage their strengths and surround themselves with those who are great at what they are not.

I am a huge fan sales people and during my 25 plus years of sales leadership, I have watched sales people that have these traits succeed farther than myself and I have watched sales people fail because they were unable to change the way they conducted themselves in business and embrace these ideas.  If you can embrace and integrate the characteristics of a CEO, then you can be great in sales.

Don’t “B” The “ANT” When You Find an Opportunity!

There are many CRM systems that measure the “Probability to Close” metric of a sale for our organizations. There are also many discussions on social media about how we can effectively measure the likelihood that a particular piece of business that we are chasing will become reality for the organization.  This potentially creates a problem for our organizations when that particular piece of business might not actually become a reality at all.  How can our organization effectively plan resources based on a “Whim” that is entered without a factual basis by us?

As sales people, our organization trusts that we are bringing qualified opportunities that will close within a given amount of time so they can plan on delivering the goods and services that we are selling to make the customer happy and deliver a profit for everyone involved.

What criteria do we use to measure probability for our organizations?  I would offer the following criteria to ensure the proper amount of resources are dedicated to the proper opportunities that we deliver.  We need to answer the following criteria that define the actual sale and assign a value to it to ensure success for all of the stakeholders.  The criteria is known as “BANT”

Budget = 20%: Do the prospects have the budget to purchase what we are offering to them as a value?

Authority = 20%: Are we speaking with the decision maker(s) that can purchase the product or service that can add value to them?

Need = 20%: Do they need what we are offering as a product or service and can it add value to them?

Timing = 20%: Can they purchase the product or service that we offer within a given timeframe that will produce value for both stakeholders?

The remaining 20% is all “Us”.  Are we and our company a credible source of the product or service that will bring them the identified value in the time frame that they expect instead of the competition that they have also met with?  I guarantee you that we are not the only choice they have!

Most of us do not ask the right questions to discover the Budget” before we present a solution and then are surprised by a response from the prospect that they can not afford our product or service.  How do those sales meetings and reviews work out for us after the time and resources you have spent chasing the business?

By using the above criteria to measure our opportunities, we can ensure that the organization will align behind us to deliver the necessary resources for the qualified opportunities that we are delivering.  Don’t miss the “B”!

4 Critical Questions to Answer for a Fast Marketing ROI

Your marketing funds are decreasing, your usual marketing efforts are producing fewer sales, your marketing message has not changed in years, and your client base is shrinking.  You need a marketing makeover that will produce results quickly.

A quick exercise with your executive team can produce fast results by answering four questions about your business.

  • Who are your ideal clients?
  • What do they want?
  • How do they buy?
  • How do they want to be communicated with?

Answer these four critical questions and you will be able spend your marketing funds more efficiently and realize a higher return on your marketing investment because you are reaching your targeted audience with a specific value proposition that will call them to action.

Every Company has Low Hanging Fruit

The question “How do we grow sales quickly?” is asked in every business on a weekly basis.  The easy answer for us is that you would not have to ask that question if your sales function was doing three simple activities on a regular basis.

Asking for additional business from existing clients

When was the last time you met with your top clients to review the current business you were doing with them, showed them what else you could do for them better than others, and asked what they were planning that you might be able to help them with?

Asking for referrals from existing clients

Your clients have stayed with you for a reason.  When was the last time you asked them who they knew in the industry that you could help as well and who else they do business with where you might be a fit?

Asking for new business from other “ideal” future clients

Can you identify your best clients and why you have been able to be a partner with them?  Take your success and replicate it by producing a marketing piece about why people do business with you and send it to other “ideal” prospects with a call to action about engaging you.

These simple activities are often overlooked because businesses get caught up in their business and do not focus on them.  Make these activities part of your regular sales meetings and their will be no need to have conversations about how you can grow sales quickly.

What if you don’t have to hire another salesperson to increase your opportunities in the market?

Salespeople are expensive to organizations and are expected to have a return on investment anywhere from 3 to 10 times their value depending on sales margins.  However, most salespeople only sell 60% of the time because they are involved with too many non-selling activities.  This in not necessarily their fault and the problem can be corrected by integrating the non-selling activities into the internal job positions they already have.

Activities without providing proper resources:

  • Supporting customers
  • Providing quotes and RFP requests
  • Collecting payments
  • Developing marketing materials
  • Coordinating internal resources

 Activities with the proper resources in place:

  • Networking with strategic partners
  • Collaborating with current clients on additional opportunities and referrals
  • Meeting with more qualified prospects
  • Closing more ideal clients
  • Making more money for the company and themselves

Don’t let your revenue generating positions do non revenue generating activities.  Any organization can increase their opportunities in the market if they have the right people in the right positions doing the right activities.

The Benefits of Role Playing

What if your sales team could increase their conversion rate without spending money on expensive training programs? What if you could increase the velocity of your sales funnel without changing your personnel?  What if you could increase your client base without increasing your marketing budget?

Role playing is one of the most effective training tools that sales managers and organizations can use so why do not more managers or organizations use it on a regular basis?

Let’s look at the benefits of using role playing on a regular basis:

  • Cross pollinating best practices amongst team members.
  • Increased organizational understanding of market challenges.
  • Efficient and confident navigation of client objections.
  • Development of highly targeted marketing messages.
  • Less training costs to the organization.
  • Increased sales team confidence and camaraderie.
  • Increased conversion rates of opportunities.

Peer review can be one of the scariest events that sales people can go through because it has the chance of revealing weakness to other members of the organizations.  It’s time to get over the fear.  By working role playing into the regular sales meetings, managers can improve the effectiveness of their teams and organizations can increase their conversion rates to close more of their opportunities.