When Customer Retention becomes a Sales Spectator Sport

Babette Ten Haken

When customer retention processes become a sanctioned sales spectator sport, everyone suffers. We all know that customer acquisition costs as much as 5 times the cost of customer retention. Customer retention is a collaborative, cross-functional sport.

3 Tips to Boost Customer Retention and Growth

Sales and Marketing

According to a study from Harvard Business School , you can boost profitability by 25 to 95 percent by focusing on current customers and boosting retention rates by just five percent. To overcome your knowledge gaps about the customer experience, conduct research. Enhancing loyalty is worthwhile because if you raise retention by just five percent, you could increase profitability by more than 25 percent

Improve retention by breaking the sophomore/junior-year curse

Sales and Marketing

and its link to retention and revenue?—?77 Jim has more than 30 years of experience driving B2B sales productivity and previously led the sales enablement research practice at SiriusDecisions. Author: Jim Ninivaggi, Senior Vice President of Business Development, Brainshark Sales rep attrition remains a vexing issue for organizations?— with companies losing about one out of every three reps each year, according to The Bridge Group.

Major New Advances in Applying Market Intelligence to Revenue Growth

Sales Benchmark Index

On this episode of SBI TV, Matt and Marc Osofsky, CEO of Aberdeen, demonstrate the importance of Market Intelligence. Why is this important for your company? Many companies are flying blind, and this is especially true with B2B companies. Company leaders.

Research Reveals Best Practices for Sales Territory Design

Xactly

That was just one of the findings from the recent Sales Management Association (SMA) research update “Optimizing Sales Territory Design.” If reps don’t hit their numbers, they can’t earn the anticipated amount of compensation – impacting their satisfaction and, possibly, retention.

How Qualifying Customer Experience helps Us Quantify CX

Babette Ten Haken

Except that conducting surveys is a form of data science as well as market research. I learned that years ago when I conducted Voice of the Customer qualitative research projects prior to working with the teams who created the quantitative research surveys.

Why Exit Interviews provide a Customer Experience Reality Check

Babette Ten Haken

As a result of relying only on CX surveys, rather than combining with periodic Voice of the Customer research, the agency missed detecting the crystal-clear signs and symptoms contributing to customer defection. OK, exit interviews are tough.

SME 76

Are your Storytelling Soft Skills half as productive as they could be?

Babette Ten Haken

Therefore, the majority of STEM professionals with whom I’ve worked and researched, perceive sales and marketing storytelling as lacking substance. Developing storytelling soft skills seems trivial to many STEM professionals, compared to the rigors of their respective professional disciplines.

SME 62

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. Action Alignment Buying Process Guest Post High Value Activities Retention Sales Strategy Sales Success Attitude Buy Process Play to Win Sales Process Upsell Value The Pipeline Guest Post - Megan Totka.

Sales Tech Simplified with @MarkMagnacca: How to Help Reps Become Better at the Bottom Line: Selling

Smart Selling Tools

Knowledge retention. When sales organizations rely on text-heavy, one-time training events, they subject their reps to a phenomenon known as “ The Forgetting Curve ,” which shows that knowledge retention steadily declines in the absence of continued exposure.

If Only Sales Management Would Do the Math – Part 2

Increase Sales

Sales management does some research and learns a good salesperson can close 4 loans per month. Workforce retention. Sales Management cycle time reduction employment acquisition executive leadership sales goals sales managers sales mangement workforce retention

Why Order Taker Mindset will become IIoT Business Extinct

Babette Ten Haken

Transactional mindset does not catalyze customer loyalty and customer retention in the industrial Internet of Things business ecosystem. After all, even the best online customized ordering interfaces are the result of a lot of complex, customer face-to-face research, development and testing.

Sales Tech Simplified with @MarkMagnacca: How to Help Reps Become Better at the Bottom Line: Selling

Smart Selling Tools

Knowledge retention. When sales organizations rely on text-heavy, one-time training events, they subject their reps to a phenomenon known as “ The Forgetting Curve ,” which shows that knowledge retention steadily declines in the absence of continued exposure.

Sales Engineering Mindset is Tailor Made for IIoT Challenges

Babette Ten Haken

As a result, you research the context behind the products, platforms, equipment and services you sell or engineer. Receive new posts on customer retention, tech workforce hiring strategy and team collaboration. Sales engineering mindset combines the best of many worlds.

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

Smart Selling Tools

And Forrester Research’s findings show that “78% of executive buyers claim salespeople do not have relevant examples or case studies to share with them.” And are you aligned on revenue, customer acquisition and retention goals and metrics?

How to Make Your Sales Enablement Roar Like a Ferrari

Smart Selling Tools

You likely have targets for customer retention, as well as for converting anonymous visitors. Marketing Sales Effectiveness Sales Tools/Product Reviews Forrester Research Peter O''Neill Sales Enablement by Rebecca Bell Ellis.

The Corner of Sales & Marketing: How to Align and Reach Your Sales Goals

Sales Result

Want fast growth, higher win rates, and improved customer retention? Research shows it’s more important than ever that these two departments meld together – by aligning the two, organizations see an average of 32% annual revenue growth ( Forrester ), 38% higher win rates, and 36% greater customer retention (both stats from MarketingProfs ). The answer lies in tightly-aligned sales and marketing processes.

Five Bottom-Line Benefits for Incentive Compensation for Retailers

OpenSymmetry

With retailers making a shift to omnichannel structures, organizations must find solutions and develop strategies that help drive the desired behavior, improve customer service, and increase customer retention. The Retail Industry is one of the most quickly-changing environments.

Brick Walls and Customer Focus

Jonathan Farrington

However there is ample research, which proves that their primary concern is reliability. General Account Management Customer Focus Customer Retention Key Account Management In a recent post I highlighted the need to focus – and I mean really focus – on your existing accounts, for a reasonable percentage of your scarce selling time.

Jonathan Farrington's Blog ? We Need Our Leaders to be ?Firm but.

Jonathan Farrington

These conclusions came from research by The Industrial Society, carried out among 3000 business people. This research shows that it is integrity, honesty and decisive action that marks out the truly successful leaders.

What are the Ideal Qualities of a Modern Day Salesperson?

Sales Tips & Techniques

A sales management team needs to have an ideal candidate in mind when trying to hire a salesperson, as research and thorough examinations up-front during hiring can help to limit the resources that are wasted on training people who are out of place in the role. Hiring & Retention Hiring Salespeople Sales Management sales management training sales people sales reps sales training management

Jonathan Farrington's Blog ? Moving the Focus Away From the.

Jonathan Farrington

Some researchers prefer to move the focus away from the leader altogether and to examine instead what makes others prepared to follow these individuals. Occupational health services including stress at work and employee retention advice.

Value of a Customer First Sales Process – The Results Are In

Altify

If you‘ve read many of my posts you know that I like to do a lot of primary research and look beyond opinion to real data to get insight into the reasons why certain companies perform better than others. Are there certain behaviors that lead to better customer retention rates?

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.

How to Personalize Your Outbound Approach According to Your Market and Persona

Sales Hacker

Personalized messaging and content improves the overall customer experience (CX), and the experience is poised to become the most important part of your acquisition and retention strategies. Your market research is ideally done while your business is in the planning stage.

Why the Best Lead Generation Techniques Are Proactive

No More Cold Calling

Stats like this suggest that buyers don’t really need salespeople anymore—that we should just wait around for prospects to do their research and then call us when they’re ready to buy. The RAIN Group Center for Sales Research studied 488 B2B buyers who represented $4.2

The Power of Marketing and Sales Intelligence

DiscoverOrg Sales

These tools take the power of accurate data – gathered and kept fresh through ongoing research, actionable predictive intelligence, and plenty of integrations – and apply it to your biggest sales and marketing challenges. These kinds of platforms include predictive insights, competitive intelligence, foundational and tactical support for Account-Based Marketing (ABM) campaigns, as well as insights for client retention. Client success and retention.

Internal Changes Deliver External Sales Results

Increase Sales

Yet, when we look at the research is this where the focus should be? First as to the research on sales training, sales behaviors and sales results. #1

The Six Secrets to Superior Sales Kickoffs

Sales and Marketing

All presentations focusing on these strategies should play into the meeting theme, to ensure consistency and knowledge retention. You can also help learning retention by sending a recap of key points to attendees immediately after the meeting. Jim has more than 30 years of experience driving B2B sales productivity and previously led the sales enablement research practice at SiriusDecisions.

The Spray and Pray Tsunami of Social Selling

Increase Sales

Training and Development Coaching Tip: A one day workshop delivers less than 10% cognitive retention after 14 days. Of course the research suggests if the business receives a 2-3% response that is good. Social selling appears to have taken the spray and pray sales approach to tsunami proportions. Clueless or lazy salespeople now drown people with emails to postings with sales pitches.

What’s Missing from Today’s Sales Training Programs?

Allego

This phenomenon causes knowledge retention to steadily decline in the absence of continued exposure. Below are 4 examples of the technologies and techniques organizations can use to improve knowledge retention. 4 Ways Sales Organizations Can Improve Retention.

Why Off Site Leadership and Sales Training Misses the Mark

Increase Sales

If the knowledge gained is never applied, then it is lost as learning research suggests. Two plus weeks down the road, your cognitive retention dropped to under 10% and by some research reports to 2%.

Why Renew? Quantify Realized Value or Perish

The ROI Guy

For most SaaS businesses, the research proves the better way to grow as via improved customer retention, and leveraging success within these accounts for up and cross-sell opportunities.

Churn 76

Need To Improve Sales? Invest In Your Sales Managers

Sales and Marketing

Research conducted by Vantage Point Performance, Inc. When former sales professionals are promoted into this role, they typically lack coaching experience," says Tamara Schenk, Research Director at CSO Insights. Multiple studies, including an employee retention report from TINY pulse, have shown that satisfaction levels with immediate superiors have a huge influence on staff turnover rates.

Practice The Connection Bridge to Leadership and Sales Training ROI

Increase Sales

Research continues to support that within 24 hours we remember 50% of what we learned the previous day. Add another 24 hours and that cognitive retention drops another 50%. Practice makes perfect or so we are told.

ROI 167

Why It’s Time to Rethink the ROI of Your Sales Training

Sales and Marketing

Research from the Aberdeen Group found that best-in-class sales teams received 17% more formal training per month compared to underperformers. The same research also found that modern sales professionals are most effectively developed by “empowering them to do their job regardless of time of day, physical location, or computing device.” Author: David M. Williams Time, Money and Effort.

ROI 225

Top Sales Performers Know What Cards to Hold

Increase Sales

Reduce customer loyalty and retention. They have invested the time to research the demographics and psychographics. 3 – Invest Time to Research. Once you have begun your separation process, invest additional time to research.

Sales Tips: 4 Ways to Convert One-time Buyers into Lifetime Customers

Customer Centric Selling

Today’s businesses are focusing on customer retention more than acquisition because it costs five times less to keep current clients than it does to acquire new ones, meaning greater return on your investment. Providing a top-notch customer experience is essential to retention.

How the Fastest Growing Startups Build Their Sales Teams

Openview

In fact, McKinsey conducted six years of research and found that companies that optimize the consumer journey increase revenue by up to 10% annually. Territory and account plan development should also be used to gauge learning progress and knowledge retention.

This Is Not Your Father’s Marketing Plan, and That’s Good

Sales and Marketing

Author: Paige Musto In marketing, much like in life, success is often a function of how well you plan – how much you’re willing to research, strategize, optimize your approach. Gone is the view that marketers are harbingers of brand only; now, they’re responsible for revenue, profits, growth, and the customer experience – a paradigm shift that calls for a newer, high-performance plan capable of addressing modern marketing holistically across awareness, acquisition and retention objectives.

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