Benchmark Study: The State of Social Selling in Sales Force Enablement

SalesforLife

Over the past year, software for sales force enablement has emerged from the margins to take center stage in the evolution of the sales function. That’s one of the central findings from CSO Insights’ third annual, global Sales Enablement Optimization Study. A solid majority – 59.2 percent of companies surveyed – now report having a dedicated sales enablement platform. Social Selling Sales Enablement b2b sales

6 Practical Tips for Protecting Profit Margin

The Brooks Group

In order to maintain a healthy profit margin, you must reinforce the importance of value within your sales culture. Keep in mind these 6 tips for protecting profit margin: 1. Build a sales compensation plan that focuses on gross margin, not volume.

Study Proves 3-Deep Questioning Can Strengthen Sales Reps’ Relationship with Buyers

The Brooks Group

A recent study published in the Journal of Personality and Social Psychology analyzed getting-to?know?you According to the study, the follow?up It’s cutting into our profit margin substantially, not to mention it creates a ripple that ultimately affects patients.

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Being more remarkable in virtual sales meetings

Sales and Marketing Management

based market-sizing study done by InsideSales.com found that, of the 5.7 a big jump from just years before when they ran a similar study. The study also assessed the recall and retell-ability of the various conditions?—?both

Creating the Ideal Performance Culture

Sales Benchmark Index

Performance culture is studied in depth in our 2014 Research Tour. If they went after new business, it would surely be at lower margins. High margin deals only come after a relationship has been built. Success is based 50% on talent and 50% on performance conditions.

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3 Elements of a First prospecting E-Mail – Sales eXecution 305

The Pipeline

First method, not mine but based on a study of some 30 million e-mails , suggests that having nothing in the Subject Line. So continuing from element 2: “…leading to an 8% increased in revenue, 11% increase in margins, and a 12% improvement on return on assets.

Does Your Sales Incentive Plan Drive Customers Away?

Sales Benchmark Index

If asked, the customer would not pay for any of these activities: Margin Incentive. Reps repairing customer satisfaction issues - issues caused by force-fitting a high margin solution. However, these studies focus on customer attitudes. Unlike marketing studies, customer interviews ‘map’ the buyer’s journey. Time Study. Time studies are intrusive. The payback is revenue growth, margin improvement, and successful new product launches.

One More Competency That Influences Sales Success

Anthony Cole Training

If you allow margin for showing up on time, then you allow people to leave early. If you allow margin for timeliness, then you allow margin for showing up at all. On the 11th of January this year I posted an article: The Competencies that Influence Sales.

Why Sales Organizations Need to Embrace Technology That Allows Them to Capitalize on the Explosion of Data

Smart Selling Tools

The plan should include specific metrics such as adoption, margin or sales metrics, product mix and sales team satisfaction. Case Study: Electronic Components Distributor Amps Revenue by $80 Million.

Top Priority: Retaining Top Sales Reps

Sales Benchmark Index

Although the process protects margins, it saps valuable selling time from his day. A time study can pinpoint the activities that drain hours from sales efforts. But a simple time study be just as effective. Here’s how: Download the free SBI Time Study Template.

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The 4 Best Responses to "I Need a Better Price"

Hubspot Sales

In the 1970s, researchers studied the effect of seller ability to deviate from list price. Because their commissions were based on margin, it was in the seller’s best interest to close the best deal possible with each buyer.

Smarter Commerce Global Summit 6 Tips for Midmarket Companies

Score More Sales

Host Jay Baer was a breath of fresh air – he studied the event ahead of time and always had thoughtful and helpful questions in addition to some fun and even funny comments at times. Marketing Study Update. Procurement Study. created by @imagethink for #smartercommerce.

Warning: Your Lack of Data Insight is Killing Your Career

Sales Benchmark Index

Well, I’ve been working with the team on improving margins. It tells me our losses are among low margin clients. He sets up a call with marketing and gathers relevant case-studies. Your credibility, value and career in Sales Ops hinges on your use of data.

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Best holiday gifts for Sales from Marketing

Jeff Davis

For many sales leaders Sales and Marketing Alignment might look like a tall order that may have marginal impact on the business. The top five based on the study were as follows: Increase the productivity of customer/opportunity acquisition.

B2B ABM: Seven Sales & Marketing Tips for 2017 - Tip #4: How Much Should Leads Cost?

Pointclear

While doing research for this blog I found one study that was quoted frequently stating that technology leads cost $51 – $100. Gross Margin – 60%. Too, the simplistic example shows a higher margin for premise based solutions including services. How much should a lead cost?

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An Empty Wagon – Sales eXchange 194

The Pipeline

All you need to do is go past where marketing leaves you, and study some real world examples, be they your customers specifically, or any client your company has helped. By Tibor Shanto – tibor.shanto@sellbetter.ca. Wyoming Roundup.

It’s Time to Pay Marketers Based On Their Financial Impact

Sales and Marketing Management

The top priority for every marketing leader should be making every effort measurable and impactful (using the same metrics expected from sales: revenue margin and cashflow). You should look forward to the opportunity to show up in the boardroom with the analytics tying your investments to improvements in revenue, margin and cash flow. According to a recent study by Accenture Strategy, CMOs are the most likely executive to be fired when the company misses its growth targets.

When Paper-based Sign-offs Become Turn-offs

Smart Selling Tools

There is often little margin for error when working and closing a deal. Studies have shown that the need for sales reps to deal with paper processes adversely impacts time to close, customer satisfaction, productivity and, ultimately, revenue.

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18 essential sales KPIs: What to measure and how to track everything

Close.io

Case Study: How a century-old company transformed its business using sales metrics. Average profit margin. But according to a Harvard Business Review study, only 14% of sales metrics are manageable (i.e. Average profit margin. Average profit margin.

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B2B is Dead – Long Live B2P

DiscoverOrg Sales

B2B companies with brands that are perceived as strong generate a higher EBIT margin than others. For a deep-dive into the B2B Buyer persona, get our extensive, free study. Download the Full Buyer Persona Study. B2B vs B2C vs B2P.

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The High Stakes Game of Selling

Anthony Cole Training

I love to help sales people gain insight from data to help them sell more business, more quickly at higher margins. 5) Make sure you have studied the ripple effect of change – i.e. who will push back on a decision to change, purchase or move forward.

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The Worst Phrases Salespeople Can Use in a Negotiation and What to Say Instead

Sales Hacker

Excellent salespeople overcome their fear of saying no and use key negotiation phrases that protect margins and still get the deal done. Simply put, salespeople are the last line of defense of every business’ margins.

Say Goodbye to Bad Business

No More Cold Calling

Your profit margins will be squeezed. My company wants this new logo for the website and case studies. Some customers just aren’t worth the headache. Sam kept me waiting for 30 minutes. When we finally met, he was anything but pleasant. I should have trusted my gut and walked away.

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Here Are the Best Books to Read Over the Holidays

Alice Heiman

He offers 19 easy-to-implement concepts that will help salespeople win d eals while protecting margin. Case studies show you how (from start to finish), and downloadable templates will help guide your progress. Many leaders take advantage of the holidays in November, December, and January to read the latest books about sales and leadership. I wholeheartedly agree with this practice; it’s a fantastic way for any leader to stay sharp and informed. .

Setting Your Strategic Direction

Sales and Marketing Management

In a study of 89 companies, the biggest difference between the groups with superior profit and sales and the laggards was agreement with the statement, “strategic planning in our enterprise has led to an improved competitive position.” Unfortunately, in an APQC study on the skills managers need versus the skills they possess, the number one skill deficiency identified was strategic planning. Author: Rich Horwath Think back to your childhood. Can you recall a time when you got lost?

Refresh Your Sales Training Program to Retain A Players

Sales Benchmark Index

If the topic can be learned with self-study, don''t waste your team''s time. Level 5 – Lagging company indicators (revenue & margin). This article is about retaining ''A'' player talent by developing new skills. The top reason good sales people leave an organization is their boss.

How BMW Would Have Benefited from Social Selling

Sales Benchmark Index

You can avoid commoditization and grow your margins. As the following BMW case study illustrates, Social Selling impacts the entire organization. Sales Operations leaders have seen the power of Social Selling. The top of the funnel is filling with highly qualified prospects.

Is it Time to Fire Your Customer?

Sales Benchmark Index

You can acquire them in a multiple of different ways: You dropped your price too quickly and marginalized your perceived value. Conduct a time study on yourself. We’ve all had Bad Customers. The ones that buy a little yet complain a lot.

Crack the Case of the Unknown Customer

Sales Benchmark Index

In a 2013 study by IBM, 33% of CEO’s are out of touch with customers. Done incorrectly it will negatively impact revenue, deal size, and margins. 76% of executives want to know their customers better. The internet has forever changed how organizations engage with customers.

How B2B Social Sellers Align With Their Buyers

Sales Benchmark Index

He brought case studies, a company history, and press releases as back-up. You will demonstrate the value of your product and maintain or improve your margin. In B2B corporate environments, Social Selling gets a Sales Rep’s foot in the door.

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Close More Deals With This Pricing Strategy

Sales Benchmark Index

So it behooves us to study consumer behavior and apply it to our business. Your top- tier option should include all the bells and whistles, and generate larger margins. When you offer the Buyer too many choices they don’t chose anything at all.

6 Simple Ways a Referral Program Eradicates Top Sales Challenges

No More Cold Calling

You’re a sales leader accountable for increasing revenue, while at the same time managing your profit margins. Are your sales reps wasting time prospecting? If you’re fairly new to your company, your sales reps are a mixed bag of talent.

The 6 Worst Decisions Sales Leaders Make

Sales Benchmark Index

You have to charge more to achieve the desired profit margin. Content” means blogs, whitepapers, webinars, slide shares, tweets, reviews, eBooks, podcasts, case studies, etc. “With every mistake and failure, not only mine, but of those around me, I learned what not to do.” – Mark Cuban.

Five Myths About Price and Discounting

Pipeliner

Cost-plus pricing (your costs, plus some margin should equal price) is only useful to set a minimum, or a walkaway, not your actual price. The mathematical argument here is that by increasing unit volume at a lower contribution margin, you’ll not only get back to break-even, but get further above it. (if Mara and Roriello, in Harvard Business Review, studied an even larger sample and found a 1% drop in average price would cause a 1 % drop in profit.

5 Reasons Your Sales Reps Hate Their Jobs and What To Do About It

Openview

According to the latest study conducted by salesforce.com , a mere 20% of B2B sales teams are considered “high performing.”. Bill Gates cites the enormous flop of the 1957 Ford Edsel as his favorite case study in this regard.

The Critical Building Blocks of an Enterprise Sales Engine

InsightSquared

Here are the competencies that you need in the enterprise AE profile that are not necessarily required in dealing with smaller organizations: The ESP is the person who shows Boeing how they can win $152M more business, at a 3% higher margin through using new supply chain automation technology to reduce transportation costs.

Does the “Women in Tech Problem” Only Exist in Silicon Valley?

No More Cold Calling

Women in tech out-earn the men in Arlington, Texas, too, and by a hefty margin: 107.4 For Silicon Valley women struggling to get ahead, the answer might be a change of location.

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Capturing the Yeti: Calculating and Optimizing the ROI of Your Sales Incentive Plan

OpenSymmetry

The salesperson’s role is one tailored towards achieving profit margin, customer retention and realistic account growth. If it has a gross margin element, it will be measured in terms of profitability. Join us on November 3 rd and 4 th at the 10 th Annual e-Reward Conference for an in-depth discussion of sales incentive plan design, measuring the effectiveness of sales incentive plans, and case studies of successful rewards strategy implementations.

Mobile Marketing Tips for Small Business

Sales and Marketing Management

Studies suggest that young adults use up to three different devices every day and many feel naked if they leave the house without their phones. Studies show that up to 78 percent of mobile searches result in conversions. A great tool, such as the cost sell margin calculator online could help you determine the right price that would generate a maximum return on your investment. Author: Kostas Chiotis Be honest: what’s the first thing you do in the morning?

3 Ways to Win Back Your Valuable Selling Time

Sales Benchmark Index

In a recent study we found at least 10% of non-selling activity (entering CRM data and generating reports) could be offloaded to non-selling times. There’s a good chance that 75% of your performance appraisal is tied to revenue, margin and selling activity.