Posts Tagged ‘sales effectiveness’

5 Principles for Success

Friday, July 8th, 2011

After 30 years of sales experience including the past 10 years coaching and training sales teams from Silicon Valley start-ups to Fortune 500 companies around the world, I’m still a proponent of the 5 key principles for success I was first taught in college by the late great Mort Utley, a sales motivational speaker for The Southwestern Company.

I recently listened to an old recording of these solid fundamentals for success in sales and in life. These resonate with me even after all these years. I realize that I’ve been consciously and unconsciously teaching these to my children and actually anyone else under my charge over my adult lifetime. These principles permeate my professional sales training, coaching, mentoring and sales management sessions.

They’re classic, never out of fashion, and they work.

As I’ve been greatly impacted by these 5 Principles for Success, I am devoting this issue of our new SalesNote publication launch to these keys.
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1. Think Big
When you think big, something always happens. Many people think small and achieve something less than they really could have achieved. Winners see the possibilities, reach out farther and swing for fences. Big dreams, big thoughts and big goals yield results far beyond the masses.
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2. Know What You Want
Understand what you want to achieve, then set goals to get there. I was taught once and now always say: “There are those that make excuses and those that find a way.” Focus and determination need to chase a goal. One has to know the target before one can hit a bullseye.
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3. Do Your Homework
Knowledge and skill breeds confidence and competence. Get the prep work done and study what needs to be mastered and understood. There’s but a small difference between successful and highly effective people and those who are not: successful and effective people do their homework.
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4. A Positive Mental Attitude
Think yes, never no. Smile, never frown. You are what you think and the attitude you bring to any situation. Certainly problems abound in a broken world, yet you can be a source of peace and light. How you approach these mentally is critical to your own well-being and for those around you.
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5. Value & Manage Your Time
If you waste an hour, you can never replace it. The cumulative effect of competently and consistently performing prioritized activities is profound. Determine all valued actions, then scope their impact and timing. Appropriately manage your schedule. Bottom line: do good things well and often.
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Coaching Makes Perfect?

Friday, June 17th, 2011

When it comes to sales productivity, sales coaching certainly comes into play and is crucial for a successful sales organization. If you’re going to make adjustments, the team has to to be coached to understand the new game plan. Likewise, individual contributors may need sales coaching to fully develop their field effectiveness.

But which ones? Your stragglers, high-performers, or future high-performers? Logic says leave the high performers alone and coach the others. After all, the manager/coach is there to manage and help, right? Watch your logic.

CSO Insight’s 2011 Sales Performance Optimization – Sales Management Analysis rated managers’ ability to proactively identify which reps needed coaching or mentoring. The percentage of firms rating Needs Improvement was 37%, an all-time high, and the Meets Expectations group was at 44%, an all-time low. Firms rating Exceeds Expectations grew to almost 16%.

What does this mean? Means there’s lots of room for improvement. Yes, you’ve got to coach, but do it wisely. The best firms (effective sales management) coach to metric bars and performance analytics set by their top performers, then proactively identify (dashboard visibility) players that need help. The coaching is objective and helpful, not belittling or damaging. High-potential players develop; weaker ones become clearly identified for a new opportunity, elsewhere.

Interesting also that there is a correlation between rep turnover and effective coaching visibility. There was a 10% higher turnover rate for Needs Improvement vs. Exceeds Expectations firms.

Better coaching environment; lower turnover.

Mid-Year Redirect

Tuesday, June 7th, 2011

Getting close to mid-year (non-calendar fiscal year excepted, of course). Should be pretty clear now whether you’re hitting the number, over-achieving, or missing the mark. Go heads down, all out and finish strong. No arguments there – but open your eyes and see a looming 2nd half.

You’ve got enough At-Bats through previous quarters to make intelligent sales adjustments at this point. The new product is gaining or not gaining market acceptance; the sales message is or is not resonating; the territory re-alignment is working or not working; the new sale hires are starting to cut it or are struggling. Keep at it this month but with an observant eye toward the future.

Tough calls here require clear wisdom and discernment. The danger is to jump the gun and not see the slow ramp of a genius strategy or pull the trigger on a weak and sorry mistake. If you care, your reputation can be at stake in environments and cultures where knee-jerk reactions are frowned upon or lauded.
Great salespeople and effective sales leadership see the trends, sense the momentum or stall and see the big picture. They’re already tracking activity metrics and numbers and already have a hunch of what has to happen after this quarter ends to finish the game with a win.

Yes, plan your half-time talk and half-time adjustments. There’s not a lot of time between halves.

Reps Know Products, But…

Monday, April 18th, 2011

CSO Insight’s recent Sales Optimization Report reveals that salespeople are knowledgeable about their products. However, there are clear weaknesses when it comes to effectively understanding buyers, cross-sell/up-sell, selling value and forecasting accuracy:

Meet or Exceed Expectations- Effectively present Features and Benefits = 67%
- Differentiate from Competition = 69%
- Align Solutions with Customer Needs = 68%
- Generate Accurate Bid/Proposal = 85%

Needs Improvement- Understanding Customer Buy Process = 40%
- Effectively Cross-sell/Up-sell = 47%
- Sell Value/Avoid Discounting = 42%
- Forecasting Accurately = 54%

This data shows that salespeople, for the most part, know their products, but are lacking in areas not typically emphasized in training across sales teams.

More Research or More Sales Calls?

Wednesday, April 6th, 2011

It’s an age old question: Do I spend more time researching companies before I call them or do I make more “cold” phone calls? This topic is too much debated. It’s a qualified no-brainer. You want to make more calls. Let me explain.

If you make 10 calls in a 2-hour period because you’re studying lead prospects’ web sites, social media sites and rooting around your CRM, and I make 30 calls in the same 2-hour period, all things being equal, I’m going to outsell you. Over a period of weeks, months and year, I will cover more ground in the territory, uncover more opportunities and drive more revenue.

Now I didn’t say zero research or no entries in the CRM. It’s about intelligent balance. Here’s the trick – 3 keys that will separate Producers from Meanderers:

1. Know Your Targets - if I know my vertical or target audience, then I can do cursor research, i.e., quick specific info checks on web sites or other sales intelligence resources.
2. Know Your Pitch - if I know what I’m going to say then I have No Fear and will boldly make great quality calls and leave great quality messages all day long.
3. Know Your Metrics - if I know my cadence metrics and results then I will confidently and systematically work the numbers game.
4. Batch Your Updates - if I keep my calling notes separately on a spreadsheet as I make my calls I can update the CRM appropriately at the end of day or night without losing my calling rhythm.

These keys result in Focus, Confidence, Accountability and Speed. You don’t need a manager to guide you; you can manage yourself. I will gladly take a team full of smart focused, confident, productive self-managers any day over a team of over-organized, plodding, CRM perfectionists.

Are you or your team really as productive as can be?

Sales Leadership System

Tuesday, March 15th, 2011

Mention sales systems and one typically thinks of IT, CRM and/or processes. Mention sales leadership and one may think of strong, effective salesmanship and/or heroic management overseeing the sales troops much like a military general. In truth, great sales leadership can be successfully systematized beyond technology and personality.

In more and more organizations, the need for an effective Sales Leadership System is clear if not obvious. It is possible and desirable to have a process-driven sales management structure that runs with machine-like efficiency and as effectively as the most well-designed technology system.

There are 4 key requirements associated with an effective sales leadership system:

  1. Sales Process Redefinition – over-hauled, clarified and aligned with Sales and Marketing, no lip service any more
  2. Sales Strategy Reinforcement – clarified customer targets, audiences, messaging, playbooks and gameplans
  3. Sales Metrics Discipline – consistent visibility and measurement metrics, reliable, streamlined pipeline/forecast management
  4. Sales Review Cadence – acceptable and sustainable pace and form of rep/team reviews, coaching, planning per month or quarter.

Not easy or quick to roll out. These take time, care and experience to institutionalize a best-practice sales leadership system. Tough to do if your driving Sales, Marketing or the whole company. It’s like orchestrating a complex symphony while you’re playing first chair violin. Let’s discuss your 2011 plans.

How’s your sales leadership system?

The Art and Science of Great Salesmanship

Wednesday, March 2nd, 2011

We see a lot of salespeople who are seasoned and experienced in sales and account management. Likewise we see a new generation of reps who, by all appearances, have the competencies to sell and produce numbers.

So what’s the problem?

None, really. Nevertheless it’s still an 80-20 world where the top 20% stand out like beacons in a dark night. While selling competencies are increasing across sales organizations, the differences between the “cream of crop” and the masses are still stark and a mystery to many.

It shouldn’t be. Top producers are still smarter, work harder, more knowledgeable, more systematic, and practice their trade with an artist’s touch and natural style aligned with their true self and personality.

No surprises. No magic. Simply a comfortable balance of salesmanship that we’ve always seen as the intersection of art and science. Some things never change or go out of style.

Management’s Selling Roles

Wednesday, February 16th, 2011

Saw an interesting article recently about the role that CEOs should play relative to sales deals. Essentially, it emphasized that top executives should stay focused on forging company strategy, setting policy and corporate direction. Makes sense. Of course management’s role in the selling effort should vary by title but is influenced by penchant and skills. Let’s review 3 titles: CEO, VP of Sales, and Sales Director/Manager.

1. CEO/President – as cited, senior execs drive strategy, but are certainly to be visiting customers and feeling the marketplace pulse. What they don’t need to do is over-engage in sales cycles and inject themselves too deep into details competently managed by their direct reports and field reps. Knowing deals is one thing, micro-managing from the CEO perch is another. Start-ups excluded.

2. VP of Sales – this level of management often comes in one of two flavors: the Field Marshall who is deep in the trenches with the team, very involved with customers, meetings and closing calls; and the Process King who is more hands-off, process and operations oriented and works through First Line managers. Best leader, but hard to find, is a blend of superstar sales driver-closer and systematic, process-driven sales executive.

3. Sales Director/Manager- depending on the size of the team, you may need a strong sales/process blended manager who can manage team business while driving and coaching field salespeople. At this level, better to error on hands-on approach but moving toward managing the business. Toughest transition for many great sales closers to make, as they just can’t let go of the thrill of the deal.

In any event, it’s all about getting deals done, and this often overrides prudence. With executive leadership’s involvement in sales often a function of deal size, criticality, style and gifts, its wise to ask the question:

Is executive management appropriately involved in sales deals?

Assessing Sales Teams

Tuesday, June 15th, 2010

There are a variety of Assessment Tests out there that managers use to try and determine viability of current or future salespeople. Here’s a sampling of types:

  • Psychological Test
  • Personality Test
  • Behavioral Styles Test
  • Aptitude Test
  • Salesperson Evaluation Test

Most common, but a big mistake, is to use Personality and Behavioral Styles tests for salespeople. While accurate, the results do not provide answer or actions that management can use for selection/recruitment, coaching and development. An effective assessment tool must answer the following questions:

  • What makes a particularly salesperson successful?
  • What makes a particular salesperson unsuccessful?
  • Can this salesperson improve or not?
  • In what specific areas must the improvement take place?
  • Which obstacles are preventing sales success?
  • How much improvement can we expect?
  • What actions must be taken for improvement?
  • How do the problems impact their performance in the field?
  • What sales competencies are impacted?

If you want to accurately predict which existing salespeople or hiring candidates will succeed in a particular sales position, at your company, selling your products or services, into your target market, against your competition, with your pricing model, performance requirements and compensation package, there is only one assessment tool that will provide this.

Contact us to learn more about a proven and affordable and comprehensive salesperson/team assessment test.