Innovation is difficult and innovations alone will not drive sales so who is on your team that can help you grow your business? Do you have the right types of sales representatives for your efforts? Can your sales efforts increase market share utilizing current resources?
What made your organization successful in the past may not be enough to maintain the current sales levels or even survive in the future. Many companies are doing the same thing the same way with the same people and with the same customers. Companies must evaluate their sales efforts and sales teams if they want to grow in this “new economy”.
In the book “The Challenger Sale” by Mathew Dixon and Brent Adamson published in 2011, the authors studied the skills, behaviors, knowledge, and attitudes that matter for high performance and developed five profiles of sales representatives including the identity of the most successful one. It is a brilliant book that you should read if you are serious about taking your sales effort to the next level and stay ahead of the competition.
So what are the five different profiles and what is the most successful one?
The Hard Worker: This sales representative is always willing to go the extra mile, does not give up easily, is self-motivated, and interested in feedback and development. 21% of sales representatives fall into this category.
The Relationship Builder: This sales representative builds strong advocates in customer organizations, is generous in giving time to help others, and gets along with everyone. 21% of sales representatives fall into this category.
The Lone Wolf: This sales representative follows their own instincts, is self-assured, and difficult to control. 18% of sales representatives fall into this category.
The Reactive Problem Solver: This sales representative reliably responds to internal and external stakeholders, ensures that all problems will be solved, and is very detail oriented. 14% of sales representatives fall in to this category.
The Challenger: This sales representative always has a different view of the world, understands the customer’s business, loves to debate, and pushes the customers. 27% of sales representatives fall into this category.
There is no doubt that the “Challenger” is the most successful of sales representatives studied. The good news is that the characteristics and style of the “Challenger” representative can be taught and replicated in any organization.
Challengers do not lead with information, they lead with insights about how they can save money, increase revenues, or increase efficiency in their prospect’s or client’s business. The Challenger teaches their prospects and clients things that they do not know and can use to improve their business.
Please feel free to contact us if you need help building challenger representatives in your organization for your selling efforts.
In a recent seminar about “Building a Sales Management Function” that I was honored to facilitate, we talked about what metrics matter to an organization that wants to be forward thinking and use leading indicators instead of the traditional “Postmortem” metrics that most companies use. Looking backwards is fine if you are alright with using your rear view mirror to drive forwards, but companies that are focused on sales growth should be using a different set of Metrics. These seven metrics are both useful for production and for a sales management function to identify coaching opportunities for better sales performance.
These seven sales metrics are key to effective sales management for organizations focused on growth:
1. #of Face-to-face meetings with “new qualified targets” (not prospects or leads) regarding new opportunities
2. # of two-way phone or email conversations with “new qualified targets” regarding new opportunities
3. # of Face-to face meetings with existing clients regarding new opportunities
4. # of two-way phone or email conversations with existing clients regarding new opportunities
5. Amount of new opportunities added to their sales funnel
6. The # of actions that moved existing opportunities through their sales funnel
7. The amount of new business that closed from their sales funnel
These seven sales metrics will help identify how effective a sales rep is at both finding new business (volume) and moving business through the sales funnel (velocity). These seven sales metrics will also provide your sales management function with the information and business intelligence they need to coach your sales rep for better performance once you bench-mark them.
What questions would you ask as a sales manager to coach your sales reps once you have bench-marked these sales metrics?
1. How can we increase the average value of the new opportunities you find in new clients and existing clients?
2. How could we decrease the length of sale from 6 months to four months?
3. How can we increase the amount of opportunities in existing clients?
4. What else do you need to help add volume to your sales funnel?
5. What are the objections you are getting from clients and how are you navigating them?
6. What do you need to do differently next week to get better results?
7. How can I help?
You cannot manage want you do not measure and what you measure gets done, so what are you measuring and what else do you need to start measuring? A good sales management function will help their sales reps put money in their pockets so everyone is happy. I guarantee your sales reps want to know the measuring stick and know that someone wants to help them.
Please feel free to contact me if you need help identifying what sales metrics makes sense for you to measure for growing sales and how you can start using them to improve your sales performance.