How much is your top salesperson worth? According to Michael Mankins (partner at Bain Consulting), 4X the average performer. Average performers looks for other average performers, as they don’t want to rock the boat.
To do nothing is within the power of all men.”-Samuel Johnson
Most real decisions, unlike those of economics texts, have status quo alternative – that is, doing nothing or maintaining one’s original position.
– Company gets acquired
– Competitor releases new product/solution
– Incumbent sales rep leaves
– Prospect changes decision maker
– Prospect wins large account – increased capital availability
– Capital raise
How do you stop the inertia?
Status Quo Bias
Sources: Status Quo Bias in Decision Making – Journal of Risk and Uncertainty, Harvard, 1988; Jamie Shanks, AA-ISP Conference, February 5th, 2013
Accounts follow the
Pareto’s Principle, right?
Right. 20% of activity
brings in 80% of the
Source: Ernest O’Boyle Jr., Herman Aguinis - Revisiting the Norm of Normality of Individual Performance.
Who’s in your 25%?
Step 1: Know your customer – LinkedIn Function, Datanyze, BuiltWith,
SimilarWeb, import.io, etc.
Step 2: Introducing the Random Function, adjust for standard deviation,
mean, median and quartile breakdown
Step 3: Upload your clean data with SFDC data wizard
Step 4: Prioritize your outreach – 5X5 programs for your bottom 25%