Mon.Jun 24, 2019

Sales Performance Review Best Practices

Xactly

In companies, annual reviews are important to maintain high sales performance. Here are sales performance review best practices to implement in your company. Sales Coaching and Motivation Sales Performance Management

The Whack-A-Mole Approach to Sales Management

Anthony Cole Training

Putting forth the effort to coach and motivate people, as well as hold them accountable to performance, requires no skill. T herein lies part of the problem with growing your sales team.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

5 Actions to Generate More Sales from Existing Customers

Sales and Marketing Management

Author: By Brad Soper, Lisa Jaeger and Alexander Stahmer While there are no shortcuts to creating and implementing an effective, long-term sales strategy, there are five actions sales teams can take to get that strategy on track – and keep it there – by generating more sales from existing customers. . Segment customers by their potential. Correct segmentation is the most effective way to prioritize customers and manage them in a targeted way. If each sales representative is assigned 50 customers or less, it makes sense to have the reps estimate customer potential individually. However, if each sales representative is responsible for hundreds of customers, it becomes necessary for companies to use analytical methods. One method involves clustering similar customers (e.g. in terms of size, region, industry) and focusing on those with a high Customer Lifetime Value (CLV) within each cluster. Customers that fall below the revenue level of these high CLV customers have the greatest growth potential. Outliers at the higher end shouldn’t be taken into account to avoid setting potential levels that are unattainable. Establish frequency of customer contact. When it’s clear how valuable a customer (potentially) is, the next step is to define how often they should be contacted. Although the frequency of contact varies by industry, every company needs to have a set of clearly defined rules in place, e.g. “personal contact (telephone call, visit) with A customers every 30 days and B-/C-customers every 90 days; D customers receive an email or letter every 180 days.”. This is an effective method to prevent churn. Also, it helps companies to better calculate the number of salespeople they need based on how many visits and calls have to be made every year. Use heat maps. It’s not enough to know how many salespeople are needed; tracking their success is essential. Most sales territories are divided according to a region. A simple heat map, which visually represents the relationship between sales results and potential, offers companies an effective overview of performance. There are many reasons why salespeople may be underperforming against potential. But companies must first be alerted that there is an issue. Plan regularly scheduled sales routines and touch points. Weekly, monthly, quarterly and semiannual sales meetings have to be added to the calendar. For example, the department calendar could look something like this: On Monday mornings, the team leader sets aside time to align with their sales teams (phone or field). The telephone sales team meets for stand-up meetings on a daily basis to discuss the schedule. Thursday evenings are reserved for internal sales to discuss the week’s outcomes, and on Friday mornings, field sales does the same. This gives the different hierarchical levels time to run through all the essential details. By clearly defining the important topics and figures and distributing a standardized report after each meeting, everyone knows what they need to do and when they need to do it. Responsibilities won’t be too diffuse, interventions won’t occur too late, and there won't be any more problems sharing best practices in sales. Ask churned customers for feedback. If, despite sales’ best efforts, a customer terminates their contract, their feedback is essential. While this exercise can be a painful, it's important to ask openly and honestly what the issue was. Don't let price be the excuse. If they mention price, ask them how the service should be improved to justify the price. Any aspects that keep showing up are actionable indicators of how the company can improve the product, service, or sales processes, so next time, price won’t be the issue. This is how to create a solid foundation for attracting new customers and winning back old ones. Based in Simon-Kucher & Partners’ Atlanta office, Brad Soper specializes in sales force transformation and pricing excellence in the B2B sector. His areas of expertise include sales force effectiveness, go-to-market strategies, customer segmentation, pricing strategies and value-based discounting. Lisa Jaeger is a partner in the Frankfurt office, managing Simon-Kucher’s Media practice. She is an expert in portfolio optimization, pricing, and marketing for media companies, focusing on physical offers and revenue streams as well as the digital transformation of business models. Alexander Stahmer is a director in Simon-Kucher’s Cologne office. He is part of the Software, Internet & Media practice, and is an expert in optimizing sales processes and teams, reward systems, product offer structures, and pricing strategies for technology and media companies.

Silence is Golden: 3 Ways to Improve Your Listening Skills

The Center for Sales Strategy

"Silence is golden"—usually this is said right after your children leave the room and you finally have a moment of peace. As much as that is a "funny" joke for parents, the concept of silence is a rare one in today's world. Are we ever "silent?"

Sales Enablement: What It Is, What It Isn't, and Where It's Going

Speaker: Roderick Jefferson, Chief Executive Officer

The biggest problem with Sales Enablement is that there is no one universal definition. If you were to ask 10 different people “What is Sales Enablement?” you would get 10 different answers, none of which would show the whole picture. Roderick Jefferson, CEO and top sales enablement consultant, is here to provide some much-needed clarity on the what, why, and how of Sales Enablement.

Winning Means Dominating Your Dream Client’s Time

Anthony Iannarino

The idea that follows is going to run counter to a lot of what you read about sales, the sales process, and efficiency. One of the ways you pull your sales results forward in time is by dominating your dream client’s time. It is also how you create an asymmetrical advantage.

More Trending

Which sales opportunities should you re-engage?

RingDNA

Hubspot found that the average sales close rate is between 15 and 27%, depending on the industry. With over 70% of deals falling through, everyone has plenty of lost or dropped sales opportunities in their […]. The post Which sales opportunities should you re-engage?

3 Ways to Cut Churn and Increase Sales Motivation While You Scale

Hubspot Sales

The following is an excerpt from the new From Impossible To Inevitable (2nd Edition), the hypergrowth bible of Silicon Valley, by Aaron Ross and Jason Lemkin. It’s republished here with permission.

Churn 108

Artificial Intelligence for Sales: Discover How Sales is Changing

Zoominfo

Artificial Intelligence. If you’ve been online in the last few years, you’ll see talk of AI everywhere. Experts across the globe are offering up their own take—trying to be first to tell you exactly how artificial intelligence will impact your industry, your company, your product, your job.

What Is a Lead? (Hint: You’re Thinking About It Wrong)

Sales Hacker

If you’re new to sales or marketing, you may be asking yourself, “What is a lead?”. In this article, you’ll learn what a lead is, how to start working a new lead, and how to reach out to qualified leads. Let’s get started, shall we? What Is a Lead?

Successful Social Selling Best Practices Guide

This best practices guide focuses on helping you organize, harness and capitalize on the information, buying signals and qualified prospects identifying themselves to you online every single day.

The ultimate guide to sales development

Close.io

Things used to be a lot simpler. Marketing was responsible for building interest and generating leads and then sales would pick up the baton and close revenue. And then, things changed.

PODCAST 63: Translating Big Companies Principles to Small Companies w/ Ben Wright

Sales Hacker

This week on the Sales Hacker podcast, we speak with Ben Wright , Chief Revenue Officer at EAT Club. He’s been around the block. He’s on the podcast chatting about moving from a big company like Yahoo! to a small company like EAT Club. How did he transition from a large to small company?

Why The Greatest Salesperson Who Doesn’t Sell Will Always Sell

Keith Rosen

The best salespeople who exceed their sales goals have no need to sell. Instead, they attract sales to them. As you’ll see in this story, the power of questions, authentic, radical curiosity and care, and coaching your customers to succeed is their secret to becoming a sales champion.

Sports 133

What Happens in Vegas Stays in Vegas?

Grant Cardone

THIS POPULAR PHRASE JUST ISN’T TRUE. Every day, everywhere, what you do matters. We’ve all heard the phrase “ What happens in Vegas stays in Vegas. ” This slogan has become one of the most famous tag lines in the history of tourism marketing.

Sales Training Playbook by Lessonl

A step-by-step guide for building a comprehensive training playbook for your sales team.

How to Succeed at Personalizing Your Pitch [Podcast]

Sandler Training

Greg Skloot is President and COO at Crystal, an online app that can tell you anyone's DISC personality before you meet them.

How to Create a Winning Business Proposal

Selling Power

Insight from this recent study shows what you can do to get better traction with your business proposals. Selling Skills

5 Tips to Create the Right Business Card

Pipeliner

Whether you are a start-up or well-established business – the reality is you have most likely underestimated how important a business card can be. If you are at a networking event or meeting, it will leave a lasting impression when you hand it to them.

8 Days Of Email Marketing | Guide To Email Sales

InsideSales.com

Learn how you can enjoy the benefits of an effective email marketing strategy with Breakthrough Email’s Bryan Kreuzberger.

7 Marketing and Sales Strategies to Grow Your Revenue Fast

Speaker: Christopher Ryan, Founder and CEO of Fusion Marketing Partners

Many companies have the core marketing and sales elements to take their revenue to the next level, but are still missing out on some key opportunities. Join Christopher Ryan, CEO of Fusion Marketing Partners and writer of the recent book "The Expert’s B2B Revenue Growth Playbook," to discover seven steps that you can immediately take to grow your company’s revenue quickly and consistently!

25 Online Marketing Tactics to Launch Your Small Businesses into the Stratosphere

Nimble - Sales

Any business owner struggles to promote their company on a limited budget. Online marketing can be a solution here as it requires fewer investments compared to traditional strategies and helps quickly reach new audiences.

How to perfect sales operations: part 6 of Predictable Revenue’s outbound sales learnings from 2018

Predictable Revenue

We'll discuss how the obsession with perfecting the Marketing Qualified Lead and the inside sales model has led to CQL(Conversation Qualified Leads), and to Drift using bots instead of traditional SDR's. We'll also cover the three main principles for governing day to day sales operations and Zendesk's sales stages! The post How to perfect sales operations: part 6 of Predictable Revenue’s outbound sales learnings from 2018 appeared first on Predictable Revenue. B2B Blog Sales Process

Challenging Our Customers’ Status Quo

Partners in Excellence

We all know to acquire a new customer, we need to incite them to change, to get them to think differently about their business. Without this, they have no need to buy whatever it is we sell. Most of the time, sadly, sales people are in react mode. The customer has already decided to change, they’ve scoped their problem, determined their needs, and are on a path to solve the problem. And at some point in their buying process, we try to get them to go on the journey with us.

Why High-Performing Salespeople Don’t Need Closing Strategies

The Brooks Group

The ability to close business is the ultimate determinant for how successful a salesperson is. With the pressure to hit their number, it’s no wonder that sales reps often focus their energy and attention on “closing strategies.”.

Fulfilling Today's (Changing) eLearning Needs

Speaker: Bryan Marriott, President, P1 Learning

eLearning cannot be a “one size fits all” proposition. It’s not enough to post 1,000+ courses and leave training up to chance. Join Bryan Marriott, President of P1 Learning, as he walks through the process of identifying learner needs, and then delivering training that specifically addresses those needs – in a short, effective, and entertaining manner.

When to Jump

Selling Energy

In the business world, there is always an element of change at work in our lives. As your career progresses it’s possible to find yourself with a completely different set of priorities or a new outlook on your situation. It may be time to try something completely new.

55

Our ABM “Hunting License”

Partners in Excellence

I’ve never been comfortable about the hunter/farmer notions around selling. I’ve always maintained every sales person is a hunter. If you aren’t, you don’t belong in sales. We tend to think of farmers as the account managers, those who think their job is to “protect and defend,” (apologies to many of our police forces).

What Salespeople Obtain too Cheaply, They May Esteem too Lightly! Leads for instance?

Sales Lead Management Association

Until salespeople realize the time, effort and company treasure that goes into lead generation, they seldom value the gifts they are given. They don't have to work or for the sales leads so they take what’s given very lightly. Sales Lead Management Sales Leakage

The Big and Little Things Exciting Our Team and Pushing Showpad Forward

Showpad

The announcement of any round of funding is a significant, celebratory milestone — and it’s no different with our latest round of $70M Series D funding led by Dawn Capital and Insight Venture Partners, with support from Hummingbird and investor Korelya Capital. We have come a long way from launching an iPad application for Sales teams in 2011 to now bringing to market the most flexible and complete Sales Enablement platform. Louis and I truly believe this is only the beginning. .

Buyer 62

4 Steps to Developing Your Customer Care Strategy

The quality of a customer care strategy can make or break a company, but simply resolving a customer service issue or complaint is no longer enough. Learn the 4 steps that address the major points you need to consider when building a customer care roadmap.