Tag Archive | Sales Optimization

How to Get a Faster ROI from Your New Sales Person

You just started a new sales person after your last sales person walked out the door only after 6 months.  You ordered new business cards, set up an email address, put together some sales figures, printed a customer list, and gave them a stack of brochures.  They should be set to go, right?  This is the most common scenario for any company that has a high turnover in their sales teams.  In fact, it was the way I was on-boarded as several companies earlier in my career.

Most companies do not have the proper systems and processes in place for on-boarding new sales people and without them, the sales person is set up for failure from the beginning. What does it take to set the new sales person up for success?  I call it the 4-P’s and it is everything that should be given to a new sales person to hit the streets faster and produce an ROI for your company.

Position: How thorough is the job description?  Have all of the expectations been communicated? Are their support people in place? Have goals been set?  Does the sales person understand what their role is in the achievement of those goals?  Without a clear understanding of the sales position, the opportunity for misunderstanding of role and expectations can lead to frustration and lack of results.

Products: Has the new sales person been trained on your product or service and fully understand the value it can deliver to your customers?  Do they know the pricing?  Do they know your entire portfolio? Do you have technical expertise that can support the sales person? Are your marketing materials current?  The failure to properly train and even cross train your new sales person will destroy your credibility with customers.

People:  Who are the people that you want to deliver your product and service to? Do you know what an ideal customer looks like? Do your marketing materials speak to your target market?  Do you know your competition?  Do you know your differentiators?  Do you know how your customers buy?  The failure to understand your market will not develop a clear marketing and selling plan to follow.

Processes: What metrics do you have in place to measure success?  Is your CRM in place and the use of it mandated?  Can you document your customer buying process and what roles are responsible for the various stages and touch points?  Do you have support people for order entry, shipping, billing, and servicing so your sales person can stay in front of customers and new opportunities?  The failure to have proper support in place for customers will make your sales person get involved with non-selling activities and you will only get 20% of the selling effort you need.

To get a faster ROI out of your sales person, you need to take away any potential for misunderstanding, not knowing expectations, ruining you credibility, and not being able to measure success.  For help developing your 4-P’s, please contact us at SalesTechnik

Grow Your Business by Targeting Ideal Opportunities

Many organizations are unable to grow fast enough because their sales teams spend too much time with opportunities that are wrong for your business.

Have you ever:

  • Thought your weekly sales funnel reviews are the same week after week with no progress?
  • Been tired of hearing phrases such as “They asked me to stay in touch” or “They are still deciding”?
  • Believed your sales efforts are focusing on prospects that you do not want to do business with?

The simple fact is that sales people hate saying “no” because they believe they can every opportunity they find and hence every opportunity they find becomes a prospect of some sort.  This leads to waste of time and efforts on opportunities that will never close, your opportunity funnel becomes clogged with bad prospects, and your business does not grow.  I guarantee these opportunities were never a good opportunities to begin with because you have not identified the characteristics of your good clients and what a good opportunity looks like to your organization for the sales team to call on.

What was done by the salesperson to identify the opportunity as ideal? What questions were asked to qualify the opportunity? Can your organization even identify what an ideal client is and what an ideal opportunity looks like to help your sales team target better opportunities?

If a company is able to define what an ideal client looks like, then the marketing and sales efforts are able to work more efficiently because selling time is only spent on qualified opportunities that match the characteristics of your ideal clients. Additionally, your operations should perform better because you are only doing business with ideal clients that you are meant to be serving.

Should your ideal clients be of a certain size?  Should they have certain annual revenue?  Should they be able to purchase one or more of your products or services?  Should they have a certain structure?  Should they have a certain credit rating? Should they be able to lead you to more business?

By identifying your ideal client characteristics, you will be able to identify what an ideal opportunity looks like and hence your sales team will be able to identify where their time should be spent and become more efficient with closing more ideal clients to grow your business faster.

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.