Podcast: Omnichannel, Hiring, and Leadership with Frank Cespedes

Today we have an incredible mind and author in the world of sales - Frank Cespedes, a senior lecturer at Harvard Business School. Frank is also the author of the recent essential book for sales leaders ‘Sales Management that Works how to Sell in a World that Never Stops Changing.’

The Realities of Sales in the Market Today (3:18)

Paul and Frank delve into the evolving sales landscape, with Frank emphasizing the pivotal role of technology-induced changes in buyer behavior. He discusses the outdated nature of the traditional funnel model, as contemporary buying journeys are marked by omnichannel experiences. While the internet is a vital player, offline interactions retain significance. Influencers and discussions profoundly shape consumer choices. 

Challenges and Competencies in Sales Hiring (7:40)

Frank addresses the complexities of sales hiring by comparing it to other business functions with more defined education paths, emphasizing the lack of dedicated sales courses in universities. He points out that managers often overestimate their ability to assess fit and performance in just a few interviews and the importance of identifying required skills and allocating ample time to the hiring process.

He further explains the need for new competencies due to evolving business practices and stresses that survival in a competitive market demands adopting best practices and continual improvement. Sales, he notes, is becoming increasingly data-intensive, necessitating additional skills beyond the basics. He concludes by highlighting the unique challenges of hiring salespeople, given limited support from education systems.

Sales Leadership Dynamics (13:44)

Frank discusses the concept of sales as a leadership issue, addressing both C-suite executives and sales managers. He highlights the lack of understanding among C-suite executives regarding fundamental sales functions and their impact on enterprise value. Frank breaks down increasing business value into investing in high-return projects and reducing capital costs. He explains how capital investments relate to revenue-seeking opportunities, emphasizing that customer selection for projects relies on aggregate sales force performance patterns, stressing the importance of the C-suite understanding metrics and incentives. He also notes the significance of decreasing time to capital, especially in environments with rising interest rates. Frank transitions to sales managers' challenges in transitioning from individual contributors to managers, noting the challenge of shifting from autonomy to collaboration. He concludes by underlining the increasing leadership requirements in managing ecosystems and channel partners in an omnichannel buying landscape, alongside traditional sales management competencies.

With Frank's insights, we explore the world of omnichannel buying and the importance of understanding your customer's behavior in both online and offline settings. Whether you're beginning your sales journey or a well-versed professional, you're bound to gain invaluable insights from this episode.