This is an overview of a webinar sponsored by the EcSell Institute and LucidEra. It focuses on the 6 Pillars of Sales Productivity and the importance of measurement to sales success in this difficult economy.
How to increase sales force productivityLouis Ekome
This presentation contains tips on how productivity of the sales force can be improved in a business organization. Business organizations and managers often think about how they can get more out of their sales force. I hope you will find this useful if you are in that category
Changing Sales Force Behavior To Achieve High PerformanceAmitai Givertz
Slides from an AMG Executive Briefing that revisits "Changing Sales Force Behavior to Achieve High Performance" originally published by Accenture in September, 2003
The term “sales management” in the present business scenario, is the direction or supervision of salesmen and also includes other aspects of management
Slides Outline:
1. Understand Sales Leadership and Management.
2. Smoothly transition from Sales Executives to Sales Managers
3. Motivate, train and Coach Sales staff
4. Develop comprehensive Sales Plan
5. Effectively Communicate with Sales Staff
6. Build and maintain quality pipelines for higher production
7. Manage Personal and Sales Team Time effectively
THE NEED FOR A SALES PROCESS
PROBLEM
The results of a recent study conducted by The Sales Board confirmed what we have known for some time. Prospects are speaking up about how they feel about salespeople who are less than professional. We thought that you would like to see these statistics as they reinforce the need for a sales process and challenge you to improve your qualifying efforts.
DIAGNOSIS
The study showed the following startling facts. Can you relate to them as a salesperson or as a buyer?
Fact: 82% of salespeople fail to differentiate
Result: They lose the business, fail to sell value
Fact: 86% of salespeople ask the wrong questions.
Result: They miss selling opportunities and end up wasting time while appearing unprofessional.
Fact: Only 18% of salespeople close without discounting price.
Result: Discounting becomes a habit and profit margins are eroded.
Fact: 95% of customers say salespeople talk too much.
Result: Customers are bored and feel salespeople don’t care about understanding their problems.
Fact: 62% of salespeople do not earn the right to ask questions.
Result: They fail to position the sale properly and don’t gain commitment.
Fact: 85% of salespeople use a selling process that is extremely ineffective, compared to the buyer’s system.
Result: They close less than 50% of the business that they should close, with disastrous effects on their companies’ sales and their personal incomes. You may be ‘winging it’ if you find yourself relating to any of the following: (a) chasing prospects who don’t return calls; (b) hearing ‘think it over’ all too often when you ask for the business; (c) cutting price in an effort to obtain or keep business; and (d) spending most of your time in front of people who are not decision makers.
SOLUTION
1. Stop assuming that your prospect needs what you’re selling.
2. Learn how to ask more questions to see if the prospect has any serious ‘pain’ issues that your product or service can resolve.
3. Learn a sales process to help you stay in control of the sales interview.
How to increase sales force productivityLouis Ekome
This presentation contains tips on how productivity of the sales force can be improved in a business organization. Business organizations and managers often think about how they can get more out of their sales force. I hope you will find this useful if you are in that category
Changing Sales Force Behavior To Achieve High PerformanceAmitai Givertz
Slides from an AMG Executive Briefing that revisits "Changing Sales Force Behavior to Achieve High Performance" originally published by Accenture in September, 2003
The term “sales management” in the present business scenario, is the direction or supervision of salesmen and also includes other aspects of management
Slides Outline:
1. Understand Sales Leadership and Management.
2. Smoothly transition from Sales Executives to Sales Managers
3. Motivate, train and Coach Sales staff
4. Develop comprehensive Sales Plan
5. Effectively Communicate with Sales Staff
6. Build and maintain quality pipelines for higher production
7. Manage Personal and Sales Team Time effectively
THE NEED FOR A SALES PROCESS
PROBLEM
The results of a recent study conducted by The Sales Board confirmed what we have known for some time. Prospects are speaking up about how they feel about salespeople who are less than professional. We thought that you would like to see these statistics as they reinforce the need for a sales process and challenge you to improve your qualifying efforts.
DIAGNOSIS
The study showed the following startling facts. Can you relate to them as a salesperson or as a buyer?
Fact: 82% of salespeople fail to differentiate
Result: They lose the business, fail to sell value
Fact: 86% of salespeople ask the wrong questions.
Result: They miss selling opportunities and end up wasting time while appearing unprofessional.
Fact: Only 18% of salespeople close without discounting price.
Result: Discounting becomes a habit and profit margins are eroded.
Fact: 95% of customers say salespeople talk too much.
Result: Customers are bored and feel salespeople don’t care about understanding their problems.
Fact: 62% of salespeople do not earn the right to ask questions.
Result: They fail to position the sale properly and don’t gain commitment.
Fact: 85% of salespeople use a selling process that is extremely ineffective, compared to the buyer’s system.
Result: They close less than 50% of the business that they should close, with disastrous effects on their companies’ sales and their personal incomes. You may be ‘winging it’ if you find yourself relating to any of the following: (a) chasing prospects who don’t return calls; (b) hearing ‘think it over’ all too often when you ask for the business; (c) cutting price in an effort to obtain or keep business; and (d) spending most of your time in front of people who are not decision makers.
SOLUTION
1. Stop assuming that your prospect needs what you’re selling.
2. Learn how to ask more questions to see if the prospect has any serious ‘pain’ issues that your product or service can resolve.
3. Learn a sales process to help you stay in control of the sales interview.
The best sales reps share a number of attributes and are always looking to improve their skills. Here is a list of the 15 most important steps to take on your journey to becoming a better salesperson.
The Challenger ™ Sale – How to take control of the sales processDennis Stoutjesdijk
The Challenger ™ Sale – How to take control of the sales process - CEB
The classic relationship building approach to solution selling has become obsolete. To be successful today, sales reps need to provide valuable new insights to their customers and they must challenge them with new perspectives. CEB’s Challenger Sale approach shows you how to open up new opportunities, create organisational capability and successfully take control of the sales process with the right stakeholders.
Find out how sales people can find new prospects and potential clients. There are 8 main methods that can be applied. Read more about sales prospecting methods: http://www.logision.com/knowledge/b2b-sales-rep-prospecting-methods
Every sales manager knows that 80% of business comes from 20% of customers... than why is your company not on the right spot... is it so easy to lock-in a customer or to ward-off the competitors efforts to snatch away your key customers
How to be a good Salesman. Knowing how to sell a product is a skill that must be practiced. Good salespeople have a strong work ethic and never give up on a sale. You must know your product, know your customer, and be able to clearly show how your product will improve the life of your customer. Develop a sales pitch that is specific to the needs of your customer and follow up to close the deal. If you are not able to close the deal, continue to develop a relationship with the customer. You may win them over eventually.
The best sales reps share a number of attributes and are always looking to improve their skills. Here is a list of the 15 most important steps to take on your journey to becoming a better salesperson.
The Challenger ™ Sale – How to take control of the sales processDennis Stoutjesdijk
The Challenger ™ Sale – How to take control of the sales process - CEB
The classic relationship building approach to solution selling has become obsolete. To be successful today, sales reps need to provide valuable new insights to their customers and they must challenge them with new perspectives. CEB’s Challenger Sale approach shows you how to open up new opportunities, create organisational capability and successfully take control of the sales process with the right stakeholders.
Find out how sales people can find new prospects and potential clients. There are 8 main methods that can be applied. Read more about sales prospecting methods: http://www.logision.com/knowledge/b2b-sales-rep-prospecting-methods
Every sales manager knows that 80% of business comes from 20% of customers... than why is your company not on the right spot... is it so easy to lock-in a customer or to ward-off the competitors efforts to snatch away your key customers
How to be a good Salesman. Knowing how to sell a product is a skill that must be practiced. Good salespeople have a strong work ethic and never give up on a sale. You must know your product, know your customer, and be able to clearly show how your product will improve the life of your customer. Develop a sales pitch that is specific to the needs of your customer and follow up to close the deal. If you are not able to close the deal, continue to develop a relationship with the customer. You may win them over eventually.
Create a Team of Hungry Sales Hunters: A 5-Point Checklist to an Assertive Sa...Business Wise Inc.
Smart sales hunters and managers know how to create a positive sales culture at their business. The ones who leave culture to chance lose opportunities, sales, and employees. In this slideshow, you'll learn why culture is more important than strategy, how to assess the state of your business culture, and 5 steps you can take to create a positive biz-dev culture at your business.
Cut the Fat, Build the Muscle: Portfolio Planning in the New Economy
The new economy and marketplace requires a re-thinking of nearly everything. A turbo-charged approach to Portfolio Management is the shortest path to generating higher ROI from the event spend, combating pressure on budgets, and making event marketing irreplaceably relevant in a vastly changed environment.
Find out how to revamp your approach to managing your portfolio including the right focus points, data, and the newest tools of the trade.
How to Build Consciously Competent Sales TeamsNick Bertolino
Jarrod Kleweno, Director of Corporate Sales at Service Source, describes how to build consciously competent sales teams. Jarrod has decades of experience building sales teams for multiple organizations.
Why are alliance sales so misunderstood? After all they represent a dramatically lower cost of sale than other alternatives? Is it because they involve joint value creation? make up your own mind by reading this simple presentation.
Our Marketing Strategy Playbook is a planning methodology that highlights our premium tool-kit of tools & templates to develop a comprehensive strategic marketing plan.
Keys to Building a Revenue Marketing PracticePedowitz Group
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4. Talent Identification & Acquisition Sales Methodology & Sales Skills Development Professional Development Planning Compensation/Recognition/Rewards Analytics The 6 Pillars A set of guiding ideologies that command the attention, development and activity of those in sales management. Source: EcSELL Institute
5. Talent Identification & Acquisition Sales Methodology & Skills Development Professional Development Planning Compensation/Recognition/Reward Analytics The 6 Pillars A set of guiding ideologies that command the attention, development and activity of those in sales management. Source: EcSELL Institute 65% believe there is nothing more that drives productivity in sales Source: EcSELL Institute
6. Talent Identification & Acquisition Sales Methodology & Sales Skills Development Professional Development Planning Compensation/Recognition/Reward Analytics Leadership and Management The 6 Pillars Source: EcSELL Institute It is how one leads and manages that will ultimately affect the success within each Pillar
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8. Talent Plus Case Study Changing the selection method and interviewing process lead to: - 10% increase in revenue - 50% reduction in turnover Results within a single year! Source: Talent Plus
9. Caliper Research: Costs on average $60K per person turned. 40 producers X 20% average turnover = 8 turns per year 8 turns X 60K = $480,000 in loss/yr Reduction in turnover rate to 10% saves $240,000!
10. Talent Identification & Acquisition EcSELL Institute Research indicates: 67% Sales managers rate this Pillar as “ extremely strong ” when referring to impact on sales production. Source: EcSELL Institute
11. Talent Identification & Acquisition EcSELL Institute Research indicates: 67% Sales managers rate this Pillar as “ extremely strong ” when referring to impact on sales production. Source: EcSELL Institute Only 7% rate their Sales Managers skills sets as “extremely strong” in this area
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19. Stanford University Study 5X more likely to achieve something if it is written down! 500% increase! Source: Stanford University
20. EcSELL Institute Research indicates: 10% Consider their sales management team as “ extremely strong ” in the area of PLANNING 51% Consider their sales management team as “ neutral to very weak ” in the area of PLANNING
21. University of Waterloo, Canada Research Experience Territory Individual ability $ $$ $$$ Stretch Goal! A stretch goal that is tiered with attached bonuses and set according to individual ability outperforms single stretch goals. Source: University of Waterloo, Canada October 2006
22. University of Waterloo, Canada Research Experience Territory Individual ability $ $$ $$$ Stretch Goal! A stretch goal that is tiered with attached bonuses and set according to individual ability outperforms single stretch goals. Source: University of Waterloo, Toronto, Canada October 2006 The tiered goal participants outperformed the single stretch goal in each period measured, despite the fact the single stretch goal was 14% lower!
23. University of Waterloo, Toronto Canada Research Experience Territory Individual ability $ $$ $$$ Stretch Goal! A stretch goal that is tiered with attached bonuses and set according to individual ability outperforms single stretch goals. Source: University of Waterloo, Toronto, Canada October 2006 Individually tailored stretch goals , with attainment tiers , may be a more effective means of motivating higher efforts and performance.
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30. Professional Development Defined as: Meeting the individual needs of those in the sales department in order to increase productivity and retention of your team. Professional Development
31. Professional Development Ask yourself: Do you know all those who aspire to other positions? Do you know what producers will make great mangers or leaders? Do you have programming in place to grow those skills? Do you provide programming to further develop the skills of your sales managers? Professional Development
32. CSO Insights Research Less than 10% of companies have programming in place to develop the skills of their sales mangers. 10% have programming Source: CSO Insights
33. There is gap between what sales managers perceive and what science shows! 38% Believe that Professional Development has a “ very strong” impact on productivity Source: EcSELL Institute “ Professional Development has a strong correlation to retention and productivity” Source: Curt Coffman
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40. Compensation, Recognition & Rewards Defined as: The understanding and design of programs that not only drive and incent the proper behaviors, but also meet the evolving demographic and psychographic needs of your sales department. Compensation/Recognition/Rewards
41. EcSELL Institute Research indicates: 87% Respondents believe “ very strongly or strongly ” that the right Compensation/Recognition/Reward has a direct impact on sales productivity 47% Respondents believe that their sales management team is “ very strong or strong” in this area Source: EcSELL Institute Research, 2009
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49. Harvard Business Review research: The New Science of Sales Productivity Source: Harvard Business Review
50. Source: Harvard Business Review Breaking producer results down further: Top quartile 6% increase Second quartile 59% increase Third quartile 77% increase Bottom quartile 149% increase Source: Harvard Business Review Harvard Business Review research:
51. Source: Harvard Business Review Another study showed similar results: Top quartile 2% increase Second quartile 33% increase Third quartile 54% increase Bottom quartile 44% increase Source: Harvard Business Review Harvard Business Review research:
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57. Leadership / Management “ What ultimately determines the levels of success you achieve correlates directly to the leadership skills and management acumen of those in sales management.” Bill Eckstrom, Founder EcSELL Institute Leadership and Management
58. EcSELL Institute Research indicates: “ Sales managers believe their ability to lead and manage has the second largest impact on production ( after Talent ID and Acquisition ).” Less than 10% Put resources against improving leadership and management skills 15% Consider their teams “ extremely strong ”
59. Gallup Organization Research 80,000 managers and 1 million employees interviewed “ The biggest reason associates stay, quit, are productive or not productive is due to the relationship they have with their direct manager.” Source: First Break All The Rules: What the World’s Greatest Managers Do Differently Curt Coffman and Marcus Buckingham, Gallup
60. Gallup Organization Research 80,000 managers and 1 million employees interviewed “ The biggest reason associates stay, quit, are productive or not productive is due to the relationship they have with their direct manager.” Source: First Break All The Rules: What the World’s Greatest Managers Do Differently Curt Coffman and Marcus Buckingham, Gallup “ The ability to build organic growth and the future viability of any organization will be in the hands of their sales managers.” Curt Coffman
61. Dr. Mary Ulh-Bien Howard Hawks Chair in Business Ethics and Leadership and Director of the Global Leadership Institute EcSELL Institute Summit topic: “ Leading for Innovation, Learning, And Adaptability in Sales” July 28-29, Half Moon Bay, CA
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69. EcSELL Institute is a leading provider of continuing education and development for sales managers. Our goal at EcSELL Institute is to help sales executives and their sales management team make smarter, more deliberate decisions by providing them with educational and development tools specific to the activities over which sales managers have (or should have) control and influence over.
70. Analytics: The Critical Second Half of CRM In the projects we've benchmarked over the past few years, we often find that CRM systems give sales managers numbers – but what they want is insight. “ ”
71. Do You Have the Right Metrics? Batting Average .406 The Old Way… On-Base % Batting Average + Walks + Sacrifices + Hit By Pitch The New Way…
72. Do You Have the Right Metrics? .406 The Old Way…
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75.
76. Q&A EcSELL Institute www.ecsellinstitute.com 402-261-6948 LucidEra www.lucidera.com www.lucidera.com/blog www.twitter.com/lucidera