Why 80 Percent of Companies Lose at Customer Retention

Score More Sales

by Dixon, Toman and Delisi, the authors discuss their research on how customer loyalty is built on meeting rather than exceeding expectations. Are sales reps and account managers coached on effective listening skills so that prospects and customers really feel heard?

Smart Selling Visions: Up-Close with Top Revenue Leader Greg Sherrill, CEO of @ChannelRocket

Smart Selling Tools

And just a few clicks later, the rep arrives at a custom-landing page complete with just the content they need for selling to a specific prospect. And are you aligned on revenue, customer acquisition and retention goals and metrics?

B2B Prospecting Data Just Keeps Getting Better

Pointclear

The most reliable and scalable approach to finding new B2B customers is outbound communications, whether by mail, phone or email, to potential prospects, using rented or purchased lists. A “prospectability” score custom-modeled by OneSource to match target accounts with specific sales efforts.

Brick Walls and Customer Focus

Jonathan Farrington

To begin with, it now costs fifteen times – yes, that’s what I said , fifteen times - as much to locate, qualify and sell to a new prospect as it does an existing customer. However there is ample research, which proves that their primary concern is reliability. General Account Management Customer Focus Customer Retention Key Account Management

Why You Need Full-Circle Sales at Every Stage in the Buy Cycle

The Pipeline

She researches to decide whether she prefers you over your competitor. Your company saves money over the cost of finding and developing new prospects by leveraging your current customers. The Pipeline Guest Post - Megan Totka.

How to Make the Number with Less People

Sales Benchmark Index

Sign up for SBI’s 7th annual research tour: " How to Make Your Number in 2014: A Sales Strategy You Can Execute." Do I need a retention plan or do I need a productivity driver?”. And in turn increasing sales sooner than then outdated prospecting: cold calling and email.

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How Top Sales Reps Stay on Top

Sales Benchmark Index

You can access it when you sign up for SBI’s Sales & Marketing Research Review here. This no-cost tour presents findings from SBI’s research in 2013. They reach new prospects with social media. Retention: What do top performers need to be productive and successful?

Stop Doing Stupid Sh*t: 18 Outdated Sales Tactics to Abandon in 2018

Hubspot Sales

If you’re still cold calling prospects and think it’s a great way to generate new opportunities, stop selling now. Of course, you still need to do call prospecting, and in this scenario, warm calling is the way to go. Ignoring the prospect relationship.

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Improve Sales Communication with Images and Video

Fill the Funnel

Recent research supports the idea that visual communication is more powerful and persuasive than verbal communication, suggesting in many instances that people learn and retain information that is presented to them visually much better than that which is only provided verbally.

Video 66

Trick or Treat? Dreamforce Goodies for B2B Marketers

Smart Selling Tools

Infer also produces a “fit score” which uses predictive analytics to determine how closely each lead matches your ideal prospect profile. This data-driven action will help you improve your retention rate which will translate into profitable revenue for your company.

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A Sales Leader’s Blueprint for 2014

Sales Benchmark Index

Sign up for SBI''s free onsite research session here. Increase base pay by 7-9% across the board to help with retention. Why are reps not being taught how to generate demand in the new prospects? Your Sales Strategy. It is one thing to have a sales strategy.

How to Take the “Snore” Out of Sales Training

Sales Benchmark Index

You should also include topics such as buyer prospecting and how to leverage technology. Share an insight from a prospect who became a customer. Research indicates that the average attention span of an adult is about 20 minutes.

Is Account-Based Marketing the Holy Grail for Lead Generation Nirvana? [PowerOpinions Part 5]

Pointclear

The responses I received were from Megan Heuer, Vice President & Group Director, and Matt Senatore, Research Director. ABM is “RAD” (helps with Retention, Acquisition and Development)! direct mail, personalized tele-prospecting outreach).”.

7 Types of Sales Questions Reps Should Use in Every Conversation

Hubspot Sales

The 7 Types of Sales Questions Reps Should Ask Prospects. Prospects can usually answer them in one or two sentences. Once you know your prospect’s goals, you can demonstrate how your product will help achieve them.

36 Email Sign Offs That Put "Best" and "Thanks" to Shame

Hubspot Sales

Closing with something memorable and personalized won’t just make you stand out -- it’ll also give you one last chance to connect with your prospect. When you’re emailing the prospect to schedule an exploratory call, use your sign-off to position yourself as a trusted consultant.

Maslow’s Hierarchy for SDR Teams

DiscoverOrg Sales

Without good people, the best messaging in the world won’t get you anywhere, because you’ll engage prospects, but won’t convert them. The retention rate of new hires four months after being hired (reps who “made it”), went from about 50% to 90%.

Sales Ops Guide to Selecting the Right Consulting Firm

Sales Benchmark Index

By registering for SBI’s Sales & Marketing Research Review , you''ll get the Guide. Identify your options through research. How did the prospect’s performance improve? Accelerated revenue, reduced costs, higher customer retention?

Sales Hacker’s Top Sales Trends & Predictions You MUST Be Aware Of In 2018

Sales Hacker

The race to the 2017 finish line is in full throttle – While last minute closed deals are still trickling in, B2B organizations are researching how to shape next year’s sales strategy to align with the top sales trends that are expected to emerge in 2018.

Why Sales Coaching Reinforces Skill-Based Learning

Score More Sales

When are sales teams making time for ongoing, regular learning about some of these topics: Messaging – how well is our message resonating with prospective customers? Storytelling – the art of story is what helps sellers paint a picture to the prospective buyer.

AJ’s story – and the Split of Outbound and Inbound Sales Development

DiscoverOrg Sales

Research shows that responding within the first five minutes increases the likelihood of conversion by a factor of 10. After extended research, Johnson and Chris Hays, DiscoverOrg’s head of sales operations, identified two areas where the team was losing prospects: booking demos, and responding quickly to web leads. With the previous configuration, the SDR would email the Account Executive and the prospect, introducing them. This drastically improved retention.

The 5 Top Media for Cold Prospecting

Pointclear

Ruth Stevens is Founder of eMarketing Strategy , a consulting practice that assists companies in building their customer acquisition and retention strategies. Now, you are probably wondering why I did not include email on this list of top five media for prospecting.

7 FASCINATING FACTS ABOUT A SALESPERSON'S MIND

HeavyHitter Sales

   Okay, you have just been told by the prospective customer that you lost that big deal you were counting on.   Their research suggests that optimistic people selectivity receive negative news.

Which Type of Sales Job Is Right for You?

Hubspot Sales

SDRs (also commonly called business development reps, or BDRs) are responsible for the first part of the sales process: Researching, prospecting, and qualifying leads. Building rapport and establishing trust with your prospects tends to be easier if you’re face-to-face.

Why Should I Talk to You?

Keith Rosen

Do you know exactly what to say to a prospect or customer that captures their attention so succinctly and effectively that they want to talk with you and are actually asking for more? How can you cold call or prospect effortlessly? However, for some prospects the opposite may be true.

Sales Tips: Measuring and Tracking Success

Customer Centric Selling

Firms measure success in different ways, including revenue growth, profitability, customer retention, and loyalty. Recent KPI Research Findings. Use “drip” and nurture campaigns to stay top-of-mind with buyers and prospects for future business opportunities.

The Challenge Sale Can Be Mistimed

Sales and Marketing

Author: Tim Riesterer, Chief Strategy and Research Officer, Corporate Visions A few months ago, whenever I’d mention in a public event that my company was conducting academic research to determine the best way to communicate a price increase, I’d get a flurry of responses from folks eager to see the results. for businesses with world-class employee retention rates.

Sales Leadership Dysfunctions — Anti Sales Attitudes

Partners in Excellence

Why are they engaging customers and prospects in such ineffective ways?” They were actually doing this, the challenge was, customers weren’t renewing their subscriptions, retention had fallen below 85% and was declining further. While, for some reason, sales wasn’t responsible for retention, sales resources were being diverted to help with the retention problem. The retention issue also impacted new customer sales.

10 Ways to be an Agile HR Business Partner for Sales

Sales Benchmark Index

HR’s focus is on attraction, retention and development of human capital. The result was an increase in appointments accepted by prospects. They found new ways to connect with prospects and customers. Sign up for SBI''s Research Tour and receive your free copy of the scorecard.

13 Must Read Sales Books to Become a Badass Sales Person [Updated]

A Sales Guy

2) Fanatical Prospecting – Jeb Blount. If nothing happens until something gets sold, then nothing gets sold until you can prospect. Prospecting is where everything happens. If your prospecting is suspect, nothing can save you. It tackles the most difficult challenge salespeople struggle with, getting prospects to respond. This book is not about email meetings, but rather how to build targeted, specific campaigns for your most valuable prospects.

11 Productivity Tips to End the Sales Quarter Strong

Hubspot Sales

If you allocate time poorly or spend too many hours chasing the wrong prospect, you risk missing your goal and being put on a performance plan. Respond “yes” to prospect questions. Studies show writing forces us to process information in real time, which improves learning and retention.

3 Keys to an Effective Digital Selling Strategy

Sales and Marketing

For instance, a business might establish an internal center of excellence that produces content designed to educate prospects about its services. Many sellers cut their teeth on live prospecting, generating leads in person at conferences and events. To reach prospects in meaningful ways, salespeople must be mobile savvy and attuned to their online consumption and communication patterns — much like the strategies they would deploy to woo B2C customers.

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The true cost of ignoring clients

Sales Training Advice

I have worked with dozens of companies over the past several years and have been surprised at how many concentrate more on client acquisition than they do on client retention. While cold calling (new business development, client acquisition, prospecting) certainly has its place, giving it paramount importance over growing your current client base may not be prudent over the long haul. If often, in fact, understates, the value of client retention. Solidify Your Client Base.

How to Become a Consultant: 9 Steps to Doing it Right

Hubspot Sales

Maria Marshall , an associate professor at Purdue University, researches small and family-owned businesses. Marshall outlines four main areas of focus for visionary goals: Service: How can you improve customer satisfaction and retention? How to Be a Consultant in 9 Simple Steps.

Sales VP Tenure Shrunk To 19 Months

Partners in Excellence

There’s other research that shows slightly different data, but every survey I see has over all sales performance declining. Unless you have a very short prospecting/sales cycle, we now have to go through several sales cycles to see consistent and sustainable improvement.

The Looming Implosion Of Sales/Marketing Automation Apps

Partners in Excellence

This leaves another $12K for my prospecting, research, presentation, content, learning, expense, collaboration, messaging, proposal, account planning, call planning, reporting, analysis, and 1000’s of other apps. They are seeing declining retention/renewal rates.

6 Sales and Marketing Tips & Ideas to grow your Business

Tenfold

Marketing, on the other hand, involves all those actions that a business takes to reach and recruit prospects. The number of ‘touches’ a prospect requires to convert into a sale varies, though research suggests anywhere between three and twelve touch points. It is the role of a business owner, then, to ensure that information is delivered to prospective customers at the right time, in the right format, and on the right platforms. Research.

How to Make Today’s Savvy Customers Loyal for Life

Sales and Marketing

First, they want to educate themselves about you and your competitors by doing extensive online research and consulting like-minded consumers via social media. Better yet, a five percent increase in customer retention can produce more than a 25 percent increase in profit. Author: Tony Rodoni If you feel like it’s tougher to make a sale these days, it’s not your imagination. There’s a new breed of customer out there and they’ve made life more complicated for growing businesses.

Show Your Customers That You Care

Partners in Excellence

In our prospecting calls, we are unprepared, we don’t know who they are or anything about their company. We expect the customer to take their time to tell us what we should have learned in basic research.

Leveraging Tools To Make Us Better

Partners in Excellence

Why research, target, and understand a prospect, when the tools do that for you, and all you have to do is blindly call a customer saying, “I have a cool product?”. Since many of these tools are SaaS based, maximizing customer retention is critical to growth (even survival).

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Buyers Are Self Educating, So Should Sellers!

Partners in Excellence

Depending on which research you read, as much as 70% of the buying process is completed before sales people are even engaged. The web provides a vast array of sources of information to prospective customers about solutions. Buying has changed.