Sales trends for 2011


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The New Year has brought a new set of challenges and opportunities for sales professionals. In this webinar, leading sales expert Susan Barrett from the Barrett Group and SmartCompany’s James Thomson will examine the trends that sales people need to get in front of.

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Sales trends for 2011

  1. 1. Sales trends for2011This webinar will start at 2pmAESTJames BarrettFounder & MD of Barrett Pty
  2. 2. James
  3. 3. Today’s Sponsor
  4. 4. Sue BarrettFounder & MD of Barrett Pty
  5. 5. Culture & Campaigns Consulting Talent Barrett 28 Day Capability & Training & Coaching Research Sales Challenge Welcome to 12 Sales Trends Presented by Sue Barrett, Founder & MD of Barrett Pty Ltd Webinars 2011T +61 3 9532 7677 PO Box 277F +61 3 9532 7388 Caulfield South ©2011 VIC 3162
  6. 6. 12 Sales Trends Agenda •Rethinking Solution Selling •Rethinking traditional incentives and rewards •Collaboration & Creativity: why sales is a team sport •Sales leaders are the key ©2011 BARRETT Specialists in 21st Century Sales Mastery
  7. 7. the evolvingsalesperson
  8. 8. the company secretary slower pace local markets local manufacturing the order sheetshe’ll be right mate customer loyalty 1970’s product features company car product focus
  9. 9. Build database Close the dealBIGGER the long lunch CALL MEgreed is good product benefits 1980’s mobile communication shoulder pads the car word processing
  10. 10. the rise of the corporation solving problems big commissions doing dealshigh stress Get smart recession 1990’s email the mobile phone trust me
  11. 11. teamwork security values alignment Sell the way theBe informed customer needs to buy Frequent flyer online 2000 anywhereclient partnerships going global e-volve web 2.0
  12. 12. the new 2011 transparency& ideas knowledge & TRUST Beyond blogging create & innovate Global collaboration listening digital people power get personal sales 2.0connect & collaborate everybody lives by selling something
  13. 13. The Evolution of Selling 1970’s 1980’s 1990’s 2000 2011+ product product aggregation sell the get features benefits of products way the personal, customer get needs to creative, buy collaborate ©2011 BARRETT Specialists in 21st Century Sales Mastery
  14. 14. Solution Selling is now a commodity sale products solutions collaboration & creativity meet solve produce needs problems ideas, innovation & results Automation reduced products & solutions to People are willing to pay for this Commodity Purchases ©2011 BARRETT Specialists in 21st Century Sales Mastery
  15. 15. Rethinking Incentives & Rewards If you reward something you Monetary incentives improve facts myths get more of what you want performance for mechanical tasks only If you punish something you get less of what you want Monetary incentives result in poorer performance for cognitive &/or creative tasks 21st Century Selling is a Cognitive / Thinking / Creative Function ©2011 BARRETT Specialists in 21st Century Sales Mastery
  16. 16. Rethinking Incentives & Rewards fact fact • Money is a motivator at • Pay people enough to work so if you do not pay take the issue of money enough they will not be off the table so they are motivated to work not thinking about money and you will get better performance ©2011 BARRETT Specialists in 21st Century Sales Mastery
  17. 17. Rethinking Incentives & Rewards Purpose Mastery Autonomy ‘Drive, the surprising truth about what motivates us’, Danie ©2011 BARRETT Specialists in 21st Century Sales Mastery
  18. 18. Rethinking Incentives & Rewards • Used when difficult to assess sales force activity and performance or Straight salary when team selling is important i.e. complex selling • Paid % of sales or gross profit – rewards people from accomplishments Commission only rather than effort • Used to provide more income security while bonus gives added Salary plus bonus incentives. Usually paid annually and based on sales quote or gross margin Salary plus bonus & • Comprehensive payment plans combine the stability of salary, incentive of commissions and the special reward of bonus commission • Team selling is becoming more critical as business becomes more Team selling complex ©2011 BARRETT Specialists in 21st Century Sales Mastery
  19. 19. Sales Is Now A Team Sport ©2011 BARRETT Specialists in 21st Century Sales Mastery
  20. 20. The Sales Leader – International Research • Most Sales Managers reported that they were given no formal training in Sales Management practices, either before or during their tenure as a Sales Manager. • When Sales Managers were more frequently and better trained and coached then their sales teams achieved higher performance and results. • In no other type of sales training was a more positive correlation found between frequency of training and sales performance. ASTD Research Study 2009 ©2011 BARRETT Specialists in 21st Century Sales Mastery
  21. 21. The Sales Leader - Coaching On average, teams that report receiving more than Teams not 3 hours of coaching per receiving coaching month exceed their goals by underperform by 7% a significant margin 120% 107% 100% 90% 92% % to goal 80% High 60% Average 40% Low 20% 0% < 2hrs 2-3 hrs 3+ hrs Source: Sales Executive Council Coaching hours per month ©2011 BARRETT Specialists in 21st Century Sales Mastery
  22. 22. 21st Century Sales Leader strategic action technology coaching sales leadership effectiveness global team perspective building self mgt ©2011 BARRETT Specialists in 21st Century Sales Mastery
  23. 23. For more helpIf you want to talk to someone about developingSales Mastery contact us on:(+61) 03 9532 everybody lives by selling something ©2011 BARRETT Specialists in 21st Century Sales Mastery
  24. 24. About Sue Barrett Lead sales writer for Business Advisor, Speaker, & other publications Founder & Managing Qualified Coach, Facilitator, Director of Barrett, est.1995 Trainer, Writer, Interviewer. (local & international). Over 200 published articles to date. 1997 Winner of Telstra & Finalist 1998 & 2001 Telstra ACE Sponsor, Victorian Government Small Inducted into the Business Business Woman of the Victorian Institute of Sport Business Award Women‘s Hall of Fame 2000 Year Awards (VIS) since 1991 Interviewed over 8,000 sales Mother to 2 boys, partner, people and sales managers for Built 1st Australian Sales competitive swimmer & recruitment purposes. Currently researching & Competency Dictionary & hockey, enjoys painting & Assessed over 70,000 people in interviewing high performing profiled & mapped 100+ performing in theatre, a sales & leadership. women for her 1st book Trained over 15,000 people in different types of sales & keen practitioner of yoga & ‘Sell Like A Woman’ sales, sales leadership, teams & sales leadership roles meditation, & passionate culture. CATS supporter ©2011 BARRETT Specialists in 21st Century Sales Mastery
  25. 25. Thank you