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Continuous Sales Improvement | Sales Process Audit to Boost Sales

Continuous Sales Improvement | Sales Process Audit to Boost Sales

What is a Sales Process Audit?

You know there are 100’s of sales levers to improve sales results, how do you know you’re working the right levers to get the sales improvements you need?

The truth is you don’t always know, it’s more intuitive, its worked in the past, it seems to be working now, you read about it in a book…

Sometimes sales improvement is just 100 of mini things rather than a few big things that are done differently

But the question is, just where do you start?

Start Here! The Sales Insight | Sales Process Audit

Just hit the link above for full details.

But Why Should I Get a Sales Process Audit?

Well that depends on you, so I’ll share some of the reasons past clients invested in Sales Insights for their business:

Software client:

Problem: dramatic drop in sales after a long plateau, is a subscription product so recurring revenue took a hit

Discovery: they’d recently invested more focus, energy and money on new business development than customer ervice and retention, ex customers were starting to talk and their credibility was shot.

Solution: power up your customer retention

Business Solutions Client

Problem: loosing 100k+ per month

Discovery: their average sales order value was just 20% of their competitors, they didn’t focus on specific sectors so message was all over the place, sales guys were diverted between sales and new business development as well as account management

Solution: create separate functions for new business development and account management, pick 3 red hot niches and get s robust ROI to demonstrate value, restructure the management team – average order value after 5 months was x5, and team had stopped loosing money

Professional Services Client

Problem: Client retention, poor margins

Discovery: commission structure stopped paying out at 3 months, coincided with biggest client drop off, poor pricing skills based on being unable to demonstrate strong value based ROI

Solution: changed commission structure to reflect a period where the sales person could hand over to customer services/internal team, introduced sign on costs and bulk buy packages, tighter terms and conditions for long term block usage, improved skills on pricing and relaying pricing information and packages.

Could All These Firms Improved Without a Sales Process Audit?

Yes.

Maybe.

Eventually.

Worth the Wait to Find Out?

That’s your call…but why risk it.

Book you Sales Insight Now

To discuss how you’d like to improve your sales results, the functionality of your sales team or simply take your competitors out for a walk next quarter – call Carol on 0779 002 1885 or email carol@mortonkyle.com

To sign up for free sales and business development insights – hit the link – The Advanced Business Achiever – and claim your free subscription.

A sales process audit is your key to releasing the infinite potential within your sales team…so why wait?

The Perfect Sales Recipe – What Sales Metrics To Use

The Perfect Sales Recipe – What Sales Metrics To Use

Sales Metrics and sales KPI’s matter,for lots of reasons.

Having the right team sales KPI’s and the right individual sales metrics means your chances of achieving sales success are already increased.

The following will help you identify some of the challenges around this area, and for a more step by step guide you can download our free guide. See the link at the end of the article.

What Sales Metrics to Use?

That really depends on what you want to achieve?

And that’s the easiest way to start.

For example, if your primary aim is to drive activity then there are key metrics that will impact that:

  • How much data is available?
  • How much of that data has been called more than 7 times?
  • Average call duration?
  • Average admin time per call?
  • Contact rate for your industry – i.e. ratio of decision maker call/gate keeper call

This is not an exhaustive list, but you’ll get a picture for how you create your very best sales metric template for you.

BUT don’t set up metrics for the sake of it.

Ask yourself; if you had to identify the most critical sales improvement, profit improvement, sales performance improvement sales metric then what would it be, then monitor that by reviewing the intrinsic parts.

Often one of the first and biggest piece of work done in any sales turnaround or sales performance improvement is to agree to measure those sales metrics that have a direct relationship to sales success.

The sales metrics you can control.

The sales metrics you can influence.

Why Use Sales Metrics?

Lots of reasons, primarily it’s an indicator for the sales management and the sales people that you’re all on the same track.

It’s a way of measuring sales progress when the month, week, day is still in play. Check out more on this here

If you’re a sales person, you know you’ll earn bonus, and if not you’ve got some idea of what to do to change that.

If you’re a sales manager, you know what skills to re-coach and with who.

And if you’re the business owner, you don’t have to wait 2 weeks after the month end to discover how much money you’ve made, or not made, as the case may be.

Agile use of your sales metrics is the easiest, quickest and most efficient way to improve sales skills, sales people, sales function performance and bottom line profits.

The key to continuous sales improvement.

Plus, it engages everyone.

Whether you’re using a league table, a weekly sales meeting, a daily sales huddle, everyone is following the same road map.

Everyone is working with the same sign posts and with a supported and directed mission to get there!

When to Proactively Use Sales Metrics?

That’s simple, every day.

Both the team sales metrics/sales KPI’s and the individual numbers.

This is the top of the tree in hands on sales management and sales leadership.

It will focus everyone’s attention on what’s not happening.

Not so you can blame anyone but because now, as a sales leader, you can make it right.

But it helps if you launch that months sales metrics at the beginning of the month. Explain why you’ve selected these metrics. Explore what success looks like, what disaster looks like. Highlight what support the business is providing to help everyone get where they need.

Then you’ve set the premise of expectations, it’s your management guide map for the month.

These sales KPI’s can then be reported/reference daily via huddles, emails, leader board, office screen, 121 sales coaching.

How to Use Your Sales Metrics?

Your selected sales metrics and sales KPI’s are also part of every sales persons sales review.

They form part of every performance management and sales development plan, personal development plan.

Used to drive performance, striving for continuous improvement.

They can also highlight areas where sales training, coaching, shadowing, mentoring or additional support is required.

To foster team spirit and collective sales team focus for the good of the individuals and the business.

A reason to celebrate sales success.

To foster team spirit and shared focus, as well as giving a team platform for discussion and suggestions.

Collective learning, ideal for targeted buddying.

Sales Metrics Matter…but that’s not all

Of course, it’s not all.

No-one manages solely by numbers any more.

Numbers, sales metrics, sales KPI’s well they’re just the foundations. Keeping score.

The real winning benefit is how the sales leadership team use these metrics. Great sales leaders use them to interact, develop, coach and motivate the team.

Having worked with thousands of sales people, I know for sure that the fastest way to improve sales performance is to spend more time coaching and mentoring the sales team.

Having great clarity and shared ownership of group and individual sales metrics/sales KPI’s is the easiest way to do just that.

To get more details on what sales metrics you could monitor in your team, download this free guide 7 Sales Metric You Need to Measure, Manage and Monitor 

Also if you’re really serious about improving sales results within your business, hit the links below:

TurboCharged Sales – for when you are ready to embed a continuous sales improvement framework into your sales team

The Sales Improvement Workshop – the fastest way to refocus, re-energise and improve sales results – one day course inhouse or open – check dates and locations

Sales Audit – for when you want to improve sales results, turnover and profits, but have no idea where to start.

And, if you’re great at getting sales quotes out, but your buyer’s all seem to disappear when you follow up the sales quite check this out Buyer Gone AWOL – Following Up Sales Quotes

To discuss your specific sales training and sales improvement needs you can contact us on 0779 002 1885 or email carol@mortonkyle.com

Remember, having the right sales metrics is critical to any sales function wanting to outperform competitors, drive margins and foster continuous sales improvement.

Increasing Sales Results | What to do Before Starting B2B Sales Training

Increasing Sales Results | What to do Before Starting B2B Sales Training

Increasing Sales Results – What to do Before Selecting Your B2B Sales Training Courses

There are lots of ways of increasing sales results, you could:

  • Focus on bigger deals
  • Increase, or decrease prices
  • Sort out your incoming sales funnel and sales lead generation
  • Only chase good quality business with your clearly defined perfect prospect profile and decision maker
  • Soup up your case studies and testimonials so everyone gets more social proof
  • Fine tune your sales processes
  • Split the business development function from the sales closing function
  • Ask your sales manger to spend more time coaching in situ as salespeople connect with potential customers

And all of these would work… they’re all part of the 100% Club – the go to list of how to increase sales results.

Also on that list is…

B2B Sales Training to Increase Sales Results…

But that’s not the only way.

Whatever your sales and marketing efforts, whatever your business development strategy, effective sales, great B2B sales will invariably come down to how you intersect with the decision maker to get them to make a purchasing decision. But there are a myriad of other sales stimulating activities you can do before you get to the sales training stage.

If you do everything else in the sales process, but you cant get the decision maker to make a purchasing decision, well that’s a NO SALE!

Hers’s 10 ways to make sure that doesn’t happen to you.

10 Way of  Increasing Sales Results

Ensure your sales process deals with the decision maker and the relevant influencers. However, never take your eye of the main buyer. Loosing contact with the person who makes the purchase decision can catch a lot of sales people napping. Never forget whose signature you want.

Increase your conversion rate by ensuring you spend time with viable buyers. Check this out if you want to know if you are dealing with a viable buyer or a tyre kicker – Engaging with the Perfect Prospect.

Also – read this if you want to know How To Qualify A Perfect Prospect

Too many sales people are happy just to be busy, but not especially effective sales people. I’m not saying lazy sales people sort of have the right idea, but how about you ask yourself this question every morning – what’s the fastest way, least stress, low risk way to get my sales pipeline full of high quality, viable  prospects who are able to make a purchase decision? Once you have the answer – do that! Being an effective sales person is key in an industry that judges you by results delivered and not hours worked.

Get a super clear picture of what your potential customer looks like. The sooner you realise what your ideal decision makers look like, and that you can increase sales results by killing your compulsion to try and convert every potential decision maker, the richer you will be, because it’s one of the fastest ways you can use for increasing sales results.

Then: if you’re really serious about increasing sales results and improving sales conversions

Work your referral networks. Draw up a list of 10 people per week, happy customers who have benefited from you an your expertise, then ask them for one or more of the following: an introduction to a named contact, a referral, a testimonial, a shout out on social media, a case study or a linked in introduction…that’s 10 new pieces of sales and marketing activity from people who love you, and as you know, social proof rocks

Purchase decisions can take ages to make, so when you do get the prospect to that stage, then don’t let them off the hook. Just ask for the business and don’t stop asking until you get what you need. Think that’s too pushy? Look at it this way. At this point you’ve just rolled a huge snowball up Everest, so why would you let it go now? A good buyer, a good decision maker will know what you’ve invested, he’ll work with you if he sees you working for the order so don’t fade away.

Talk to your sales and marketing and business development teams all the time. Especially if you’ve found a trend that’s swaying decision makers at the moment, or perhaps some competitors have a nice hook you’d also like to use. Sometimes the sales and marketing teams are working in isolation and inspiration from the sales team at the front line can really boost their creative juices. Get them creating compelling call to action sales and marketing material, and those first class landing pages.

Next:Sales Strategy

Understand your sales processes and work it hard. Whilst you’re doing that, look at where most of your sales stick in the sales process and get some help. I know lost of people ho are great at the first half of the sales process, but can’t progress to a close. Some would die rather than ask for the business. Likewise I know some sales people who are dropping opportunities because the deal doesn’t progress fast enough and they have no nurturing skills. Everyone needs help sometimes. It’s a valuable insight to know where your own strengths sit. If you need some help – check this out – it show you what sales metrics to watch if you want to increase sales results

Once you know what your sticking point is, what sales skills you need to improve, then take action. Either grab your manager for some training. You could even check out some self development videos. I love YouTube. Perfect for getting something sorted and a new skill gained really quickly. It  is learning on the go and you’d be surprised at how quickly you can pick up new sales skills. In fact, better still, get the whole sales team involved in the learning and sharing.

Register now for your weekly free and practical sales insights into how to increase sales results, improve business development efforts and fill your sales pipeline full of high quality sales prospects. Just hit the link Advanced Business Achiever

When you’ve done all of that and you need B2B Sales Training, then we’d be delighted to help.

Fixed Price Sales Training

Sales Improvement Workshop

Online TurboCharged Sales 

Or if you want to discuss how we could design a tailored sales improvement solution for your business – contact us on carol@mortonkyle.com or call 0779 002 1885

Sales Detox

Sales Detox

When Did Sales Get So Complicated?

Simple sales plan? Really?

It seems tough to open my inbox some days without getting a flood of information on new sales techniques, tips on how to be a better influencer, how to close every deal first time and make all your prospects swoon at the thought of getting a call from you…

it’s just wow…

Nearly 20 years ago I read quite a bit of this stuff. Yes, STUFF!

I was a proactive sales person, keen to be at the top of my game, every little bit helps and you can’t out earn your learning right? So I dutifully got stuck in…

Some of it worked, most didn’t. I learned a lot…how to test new approaches. Elements needed revising. Some ditching totally…but the new insights pushed me on so it was all worth while.

Now…could I do the same if I was an ambitious sales person? Not a chance.

There’s just too much information. Swamped in it. And that’s coming from someone who can scan and speed read with the best!

Too Much to Concentrate On?

Absolutely too much to concentrate on.

But should it really be that complicated?

Especially when all we’re really looking for is a simple sales plan that works for us, and that’s the same whether you’re a lone sales person looking to get a higher level of sales output (MORE BONUS), or you’re a sales leader building a sales function that delivers (MORE PROFIT, MORE MARKET SHARE. MORE CUSTOMERS).

So, after all this time, I think there are three strands at the crux of this:

  1. There is no ONE universal simple sales plan…once we get over that it’s easy to stop seeking the unicorn
  2. The only simple sales plan is the one that works for you
  3. You need to build it…and keep building it

Does that make you feel any better? Any more motivated?

Better, maybe not.

Motivated, then I hope so.

Because it’s full and total permission to create your best ever sales pitch, your best ever sales process and your world class sales funnel which will deliver the financial rewards you need, and because, well, if you don’t do it then no-one will do it for you!

Make the Most Important Thing THE Most Important Thing!

And that’s the crux of it.

But toachieve that you need total and absolute clarity on what it is you’re doing and how each activity relates to your ultimate one and only goal…because that will dictate YOUR simple sales plan.

Once you can isolate every single element of your sales recipe and the activities that sit behind it, you’d be surprised at how simple sales really is…and therefore how simple sales improvement really is

Once you have that total and absolute clarity then you can start the improvement process AND see results. Quickly.

As an individual sales person, that relies on you knowing your sales recipe, and how that relates to your results and ultimately your bonus.

As a sales leader, it still relates to your sales recipe – but this time it’s reflected in the activities of your whole sales team.

To fully understand more about the Sales Recipe and what it means for you – check this out The Sales Recipe – What Sales Metrics to Use

The Simple Sales Plan

Once you’ve developed your simple sales plan, the plan that works for your, gives you the sales results you want, when you want them, as often as you won’t them…then you’re in danger of becoming legendary.

Now doesn’t that sound better than the alternative?

Happy Selling

Carol

p.s. If you’re looking for a massive step up and embedding this in your business you can check out Sales Insight or you can hit the phone/email on 0779 002 1885 or carol@mortonkyle.com

Strategy – Cheap or Fast…What’s Your Choice?

Strategy – Cheap or Fast…What’s Your Choice?

Strategy and Sales Business Plans – Questioning the Reality

Strategy Overload, Strategy BS and Strategy Words Without Meaning!! I’ve seen it all over the last 4 months.

I spent three weeks in summer looking through some very ambitious sales strategy and business plans for a company that has huge ambition and even bigger potential.

Huge potential. In fact, off the scale potential.

Little competition. Great product. Demonstrable ability to deliver. Fabulous reputation. Outstanding service ethos.

Strategy – Why Bother?

As you would expect when the business needs to break through to the next level, then their senior business leaders put tremendous effort into pulling the business plans together.

That’s cost serious time and serious money.

We drafted, redrafted, discussed, argued, challenged, tested, refined, redesigned, road mapped, reflected, showcased and shredded…until the final business plan was alive and kicking.

At which point, the senior business leaders confirmed they’d all created a plan they knew they could achieve, something they could have faith in, fully recognising that if they didn’t take action now, then one of their hungry competitors would.

The value of a well designed sales strategy is not just making sure that it works on paper. That’s one aspect.

But it’s also about seeking alignment in the thinking of the key players.

It’s a chance for everyone to have their input into the sales strategy, everyone can say their piece, share their concerns before reaching a workable consensus.

So, by the time everyone has signed off on the sales strategy, you know everyone is on board.

That’s it. Committed to. In love with. Totally sold on what needs to be done…

Sales Strategy – That’s All?

No!

None of that is as important as the bit that comes next.

This is the most important bit.

It’s this question.

One single question.

That question comes when it’s time for action.

Time to make the dreams come true.

This is when I know whether the senior business team are really in, or if they’re just saying they’re in.

The question?

At this stage boards will ask one of two questions:

How cheaply can we get this done?

or

How quickly can we get this done?

Two completely different mind sets and two completely different trajectories to success (or not).

Of course, the ideal sits somewhere in the middle of the extremes…well, you’d like to think that, in an ideal world.

Because this is the truth, if you’re wholeheartedly behind what you’re going to do and you’ve been sensible, realistic and conservative with your projections, transparent in your risk analysis and have a business model you truly believe in them money is rarely as big an issue as time is.

Either way – the point of this: are you asking yourself the right questions?

Because the best sales strategy in the world is pointless if you don’t believe in it enough to make it go as far and as fast as possible.

Action is key. Action drives everything else. Action matters when the words are just words.

Think about it next time you have to commit to business changing actions.

In the meantime:

You can download a selection of free reports on how to improve your sales performance – just hit the link on our blog 

Plus you can sign up to a free weekly digest of practical and proven sales and business development improvement strategies – hit the link – The Advanced Business Achiever.

 

Sales Pipeline or Sales Plug Hole?

Sales Pipeline or Sales Plug Hole?

10 Ways to Get the Most From Your Sales Pipeline

Sales Pipeline Abuse!

Let start off by explaining what a sales pipeline is, it is:

Your pay check for the next 12 months and beyond.

The difference between you going on holiday or having to explain to the family why it’s another staycation.

Choices and options –  do you spend your birthday in NYC or Rotherham…

You see where I’m going with this don’t you?

Why?

Do you treat your sales pipeline so shoddily when it’s so important?

Fill it full of half-baked, second rate, tyre kickers?

So many that the good, healthy, profit generating sales prospects either get lost totally or struggle to get the attention they deserve in order to prosper.

It’s because of this one single thing…

Being busy is more important that being effective…chasing a lead is chasing a lead, whether it’s a waste of time /effort or not…

Disagree with me?

Great…it means you know better.

So, this is NOT about time management, it is about how you manage your sales pipeline.

What is a Sales Pipeline – REALLY?

Some firms will map their sales pipeline so that it matches the buying process of their buyers.

Some firms have their own loosely structured sales pipeline.

So, to generalise between those two extremes, you can think about your sales pipeline as your sales forecast in motion.

The sales pipeline can represent a series of stages in the sales and buying process.

At the top of the sales pipeline the sales prospects are relatively unqualified…the nearer those sales prospects move to the end of the sales process the more details become attached and the higher the level of qualification as the discussions turn from possible sales to discussing prices and potential delivery dates.

You can see how it works.

Some firms will attach very specific qualifying criteria to each stage in the sales pipeline. Other firms are much more fluid around what happens at each stage.

In the former, you’ll see prospects held back in the sales pipeline until the sales person can qualify certain information – it may be around budget, sign off date, understanding/mapping the buyer process, meeting the key decision maker or some other business critical insight

Sales Pipeline – Understand This!

A sales pipeline is a flowing source of information.

It’s organic.

It moves often, maybe daily, maybe several times daily, weekly, monthly, depending on your sales cycle duration, order value and sector.

Either way, the crux is, it moves.

It doesn’t bulge out of control…at every one of the sales stages – there is a chance to decide if you keep that sales prospect in the sales pipeline and progress them to the next stage or if you ditch the prospect or simply take them back to a previous stage in light of new information.

Your sales pipeline directs all your daily activity.

Not enough sales prospects in your sales pipeline due to drop at a certain stage? Better get on with topping up the sales funnel then.

To many sales leads dropping out? Maybe need to tighten up the sales qualification criteria at the start of the sales process.

Sales prospects dropping out due to one factor? Maybe need to look at how expectations are being managed earlier on in the process.

Inaccurate sales forecast? Maybe a tighter sales pipeline with more specific criteria.

Your sales pipeline and the sales forecast it creates is vital to your business…it’s the resource planning, funding, operational blue print, so accuracy, management, maintenance are all vital.

So…

To Get the Best From Your Sales Pipeline:
  1. Refer to your sales pipeline daily to direct you most urgent sales activities, your sales pipeline should direct your day, what do you need to create today? More appointments? More quotes? Are you chasing existing clients today or closing deals? What’s your activity? Your sales pipeline will show you.
  2. Don’t be afraid to push for the information you need at all stages in the sales process…a serious buyer will be happy to answer your questions as best they can….or tell you why they can’t.
  3. Pension sales prospects off if they have stagnated for unexplained reasons i.e. the prospect has stopped returning calls/responding to emails…don’t be a sales stalker.
  4. Understand the difference between being busy and being effective, some business will never be worth chasing.
  5. Allocate your resources carefully to protect yourself and your resources – beware of prospects just wanting a price, or those who are just at the ‘thinking about it stage’ and seem happy to stay there…
  6. Check the next stage in the buyers mind to ensure you’re always on the same journey, together and with the same map…otherwise you’re not partners in the process as you’ve different understanding of the situation
  7. Make sure you’ve done a very thorough fact find and be mindful that facts can change, i.e. another referrer/influencer needs to be convinced, the late entry of a competitor, a change in budget, change of delivery date…keep checking the important questions
  8. Credit check the sales prospects in your sales pipeline…you may check then at the beginning, but you should be checking them periodically though the sales process too…you don’t want to get to order sign off stage and find the prospect lacks credit worthiness.
  9. Be scrupulously honest with yourself when you’re working your sales pipeline…don’t delude yourself…if things in your sales pipeline look shaky then the sooner you take remedial action, let someone know and get additional support, the greater your chances of success…head in the sand is not a good tactic for remaining successful in sales…
  10. Neither is relying on blind luck…the great thing about an active sales forecast is it lets you work out what your very own sales recipe is. How many cold calls:meetings:quotes:orders do you need to hit your target? Once you know this you know everything you need to know to optimise your sales earnings…learn what this recipe/formula is for you ASAP and work on the leaks continually…
The truth is – your sales pipeline is either a major asset or a wasted money making opportunity…which is it?

Also, consider this, rejecting or ejecting unworthy sales prospects early on saves a mountain of time, money, resource…because dragging an unwilling and unqualified prospect through to the sales close at which point they reject your proposal is dangerous and it’s a money pit with no end in sight…actual costs plus opportunity costs all start to mount up.

Be diligent about the sales leads you progress early on. It may cost thousands to get a sales prospect to the end of the sales process, if the chances of conversion are low, ensure you qualify hard at the start of the sales process.

Look out for a new blog on sales conversion rates tomorrow.

In the meantime, here are a selection of free guides to help you create a robust sales pipeline. They’ll  help you create a profit generating sales funnel – free instant download – just hit the link.

How to Generate High Quality, High Converting Telephone Sales Appointments

Only Dead Fish Go With the Flow

10 Steps to Out Sell the Competition

20 Ways to Price Like a Pro! – Creating Hungry Sales Prospects

Just hit the links above and the reports are available for instant download

Happy Selling

Carol

carol@mortonkyle.com

0779 002 1885

p.s. For free weekly insights into what’s new in sales, business development and profit creation – sign up to the Advanced Business Achiever – it’s free.

Looking for an online sales training course you can use internally to build you very own sales pipeline? Check out TurboCharged Sales 

Sales Audits: Uncovering Untapped Sales Opportunities

Sales Audits: Uncovering Untapped Sales Opportunities

Why Conduct Sales Audits?

Sales Audits are vital if you’re serious about continuous sales improvement.

The truth is – sometimes you just don’t know what you don’t know!

We’ve all been there. Whether it’s mastering a new sport. Developing a new skill or just trying out a new Jamie Oliver dish for the first time.

We miss things.

You and I will give much greater importance to some things and negate the relevance of others. Sometimes to our cost.

Eventually we get where we need to be, and hopefully, we’ll have enjoyed the process and all our inexperience will have cost us is a bit of time, maybe a few bruises in the pursuit of a new sport and hopefully no dodgy tummy when cooking plans went awry.

It’s all part of learning, and it makes life interesting.

But what happens when you need to solve a business problem.

And the clock is ticking.

Money is running out, or at least the money isn’t coming in as fast as it should.

What do you do?

Would you enjoy the process of solving that problem as much?

Would you enjoy the detours the challenges gave you?

I didn’t think so.

So it makes sense to make the problem solving process as smooth, effective, efficient and productive as possible.

Why a Sales Audit?

Here’s two examples to show you why Sales Audits are so valuable.

These examples are specific to failing divisions/firms. Beware, Sales Audits should also be used in profitable firms to ensure nothing is lurking in the background and to further ensure that all profit and sales generation opportunities are retained.

Sales Audits are crucial in showing that uncovering the REAL problem. Scoping the impact of the REAL problem can save you time, money and stress, lots of time money and stress.

Sales Audits – Example 1:

Client was looking at the new business team in a buoyant and expansive market and seeing a long term sales plateau starting to take a sharp downward slide.

Their options:

  • Invest in training
  • Start performance management
  • Increase coaching
  • Talk to customers
  • Enhance/change the product
  • Fire the sales manager
  • Up the marketing spend
  • Fire the sales team
  • Ditch the market and concentrate in another vertical

Or, any or all of the above…what’s the solution?

On further exploration, the Sales Audit took me 4 days, I discovered the cause of the sales drop was a change in strategy. A change that had been employed about 18 months ago in the business.

Quite simply, the Sales Audit showed that 18 months ago the business has eschewed all manner of account management and moved their whole focus into new business development, which mean that the business had just one person to account manage per 400 customers.

So, in a nut shell, bigger focus on new business development caused sales to plateau then drop through the floor?

Absolutely.

It turns out, the real problem was nothing to do with the new business development, the team, the function, the price, the product, the market, the business or the vertical.

The Sales Audit Uncovered the Real Problem.

That real problem had everything to do with the vibe that was now going around in their vertical market that said ”this company is great at the up front sell, BUT, once you’ve signed, you’ll never hear from them again, and, heaven forbid if you do have a problem, it’ll take you months to get a response, if you are lucky enough to get a response that is”

By diverting extra resources back to the account management team. By ensuring a strong and immediate account management and customer retention strategy, the new business team started to see an immediate lift in their sales conversion.

4 days and 1 Sales Audit saved that company in that vertical market.

Sales Audits – Example 2.

Division failing badly, average order price just covering costs but conversion rate running at 1:25. The division was being propped up by other more profitable trading divisions by things were getting worse not better as time went on.

Again – large potential market, highly competitive but very buoyant, no where near saturation.

But 1:25 conversion from meeting to order was killing the business.

Lots of opportunities to improve and all pointed to firing the sales team and starting again.

Many solutions also pointed to cancelling the external sales function and relying simply on a telesales team.

Either way something had to change.

A three day Sales Audit came to several crucial conclusions:
  • Competitors we making the same mistakes as this company…so it really was a race to the bottom.
  • The division wasn’t selling what the prospects needed…although they could have
  • The division wasn’t selling what they thought they were selling…no-one had unpacked the benefits
  • The average order value of the competitor that was succeeding and doing very well was 7x that of the division in trouble
  • It was a very crowded market of failing ‘me-too’ competitors
  • Every competitor was trying to serve every vertical
  • Every competitor was doing a ‘hit and run’ sale

Knowing all of this and employing some highly practical solutions mean that neither the product nor the routes to market changed, instead by changing the vertical, extending the sales presentation by 1 stage that happened post sign up, and by employing a higher level and more robust ROI demonstration during the sales process, we got the sales results we needed.

.All resulted in a 3x increase in average order value and a 1:3 close rate instead of a 1:25.

Summary: Sales Audits

And there are plenty more examples of how an intensive Sales Audit can dramatically change the fortunes of a sales division…but you see, the most crucial  point is, sometimes the most obvious solution to a problem is the correct solution, but not always.

For example – had we dismissed the Sales Audit all together and taken some or any of the actions outlined in the first case study above, the client’s sales performance in that vertical would have nosedived still further, even faster…and still with no clue about how to improve it.

In the second case study…simply training the sales staff would have brought about marginal improvements in the short term, would have minimised the growth potential and most definitely would have seen the sales division closed within 6 months.

Solving the immediate problem is one thing.

Identifying the true cause of that sales problem is another.

That’s where a Sales Audit really comes into it’s own, and can prove invaluable in saving time, money and other valuable resources.

Solving the cause of the problem and not the symptoms displayed by the cause of the problem can just do more harm than good. You can send results spiraling out of control, waste precious time and money as well as driving you insane in the process.

When you’re dealing in high risk situations, where the cost of getting it wrong is huge, where you’re against the clock, and money is flowing in the opposite direction to you…shouldn’t you take a deep dive into causes before looking at solutions?

To discuss any aspect of the Sales Audit, just use the contact details below.

Sales Audits can be conducted in as little as 3 days and feedback provided within a further 2 days.

When you’re business isn’t getting the sales results you want, need and deserve, time is of the essence so contact me now.

Carol

carol@mortonkyle.com

0779 002 1885

To receive the most up to date Sales and Business Development Insights into your business every week, register for your free copy of the Advanced Business Achiever

 

 

Not Just Sales People – Value Added Problem Solvers

Not Just Sales People – Value Added Problem Solvers

Changing Times

Sales and the art of selling is changing….just like everything else.

New theories, practices and reworked ideas come around again and again.

Some of them stick, some of them fade.

Many work, some don’t.

Some we’ve seen before, maybe under a different name, and some are genuinely original, just check this out regarding B2B sales

One thing that’s been around for ages, but always there in the background, as something that good (and great) business development professionals have know is this.

Sales Is Not About Selling…And It Never Has Been

And that’s even more true today than it’s ever been.

It is not about taking the order, being a walking brochure or even pitching harder than the competitor.

Customers, Buyer, Prospects and Procurement teams have no use for that sort of sales person any more.

The sales person that succeeds today is the sales person that out performs his competitors. Who secures the business. Whot leaves his sales persona at the door and picks up the position of the Buyer’s problem solver.

That means your business development and customer facing target carrying team may need to have a slightly different skill set than you’d imagined.

Instead of thinking about the value of their address book, the length of service in your industry, the length of their business development career, maybe there are additional things to think about.

The Sales Skills Tool Box

Critical thinking skills – their ability to grasp complex situations, issues and constraints and see the Buyer’s issues for what they are and the impact they have on the Buyer

Team building – to build cooperation around creating a suitable solution with the relevant internal and external parties

Problem solving capabilities – the ability to see the real problem and it’s implications as opposed to just seeing the manifestation of that problem

Rapport building – to gain trust quickly and establish expert status with the Buyer and their influencers

Listening skills – genuine listening skills, listening to understand and not listening simply to sell

Communication skills – how good are they are respectfully pushing boundaries in the Buyer’s thinking. How good are they at being able to coherently present ideas, discuss scenarios whilst having all parties keep an open mind

Ability to prioritise – their ability to differentiate between the urgent and important and respond accordingly

Negotiation skills – their ability to compromise and to broker compromise across different parties, different solutions

Resilience – in the face of challenges, objections, resistance, nay-sayers and group think

Creativity – seeing solutions that are not evident to the Buyer. Conveying those solutions with high levels of confidence and credibility

Belief – do they have it, can they convey and transmit their true belief in their solution

The Future of Sales People

Business development might have historically been thought of as a trade that people ‘fall into’.

Ask any 5 year old what they want to be when they grow up and I’ll bet few of them say ‘sales person’.

Sales people can be nurtured to be better business development people, that’s true.

What’s also true is that most great sales people are born with a certain skill set that they invest in to make better.

So, anyone can be a business developer?

I don’t think so.

What do you think?

Carol

carol@mortonkyle.com

0779 002 1885

If you’re looking for further support and guidance on how to recruit the best sales talent for your business – check out these two Free Guides:

Beware of the Twins – How to Recruit the Best Business Development Talent in Your Business…and minimise the costly risks associated with recruitment.

Wait! Is your New Business Development Recruit Really That Good – Your Top 10 Check List

And this Blog Post

How to Recruit High Performing Business Development Professionals

 

Problem Solving in Sales Performance and Sales Results Improvement: 3 Easy Steps

Problem Solving in Sales Performance and Sales Results Improvement: 3 Easy Steps

3 Easy Steps to Being a Sales Detective

Sales Performance and Sales Results Matter! Making sure that the key metrics are on point all through the month is key, plus having the skills and insights to reverse any decline and accelerate any upward trends is vital.

But, before that you’ll need to learn how to be a Sales Detective, embrace the fact that your  favourite question will now be ‘WHY?’

That’s the BIG WHY…

  • Sales results aren’t as they should be…
  • Consistent performance is so elusive because sales performance and sales results are is over the place…
  • Why profit is a fluctuating feast or famine.

In a nut shell…we need you to discover the answer to the question every sales leader asks himself on a very regular basis

Why Am I Getting this Level of Sales Performance and Sales Results?

It’s not what you think…the answer, that is. It never is because there’s always more. So much more!

So here’s your 3 step guide to uncovering they you’re getting the sales performance and sales results you are

The 5 Whys

Write your sales performance and sales results problem down and then ask why.

To that response ask another ‘why’

To that response ask ‘why’ a third time

And so on, until there are no more different responses

The truth is, you’ll get two dozen reasons…some of those reasons will be big, some small. Some of those reasons will be part of one bigger reason, some will be stand alone reasons, some reasons will already be known to you and others will be new.

The skill here is just to keep asking ‘why’ until you get to the fundamental and most basic of answers.

For example – why are the sales guys diaries empty?

Your first response could be – lazy sales team

Why? We recruited badly, cheap people, poor commission structure

Why? We’re not making any money, couldn’t afford better people

Why? Competitors are killing us

Why? We’re too expensive

Why? Competing with China

Why? We’ve always done it this way

Why? It’s all that we know

Why…..

Because the empty sales guy’s diaries is only a manifestation of a problem then getting to the root cause is what makes the solution much easier

Cause and Effect 

Get a large blank piece of paper. At the centre of the page write the problem…empty sales guy’s diaries.

Down the middle left hand side write all the possible causes of that.

Down the far left hand side write all the causes of the first line of causes.

And so on and so on…

Down the middle right hand side list all the implications, or consequences of that.

Down the far and side list all the further implications and consequences

What you’ll start to see down the left hand side is some of the common elements that cause the empty sales diaries

What you’ll see down the right hand side is an order of the impact…so you can see if this is a problem that is worth applying your time and intellect to.

For example, if the implications are few, it may be a problem you have to deal with, but perhaps there are bigger problems with more far reaching consequences.

You might come to the conclusion that actually the empty sales diary is the result of poor territory management, data selection and prospect clarity because that’s the REAL cause, rather than just blaming it on the reward and bonus structure.

Sales Performance and Sales Results – Best Practice Gap Analysis

Look at the whole sales process – you should have this mapped out, it should be universal and it should be standard practice across the business. If you want to know why you should have a well documented sales process – check this out – Companies with a Formal Sales Process Generate More Revenue

Look at which of the sales guys perform best in each section of the sales process.

Now look at which of the sales guys perform worst in each section of the sales process.

Now you’ve identified another set of causes or you’ve confirmed the causes you’ve identified above.

Pitfalls of Being a Sales Detective

In your role as Sales Detective, you’ll have to fight the continual urge to solve the problem immediately.

That’s not your primary concern…if you do that, you’ll simply be falling into the same trap that many sales leader do.

The skill is in being able to STOP trying to find the solution long enough to allow you to discover what the REAL problem is.

Once you’ve discovered the REAL problem then you’ll most likely be able to solve the sales problems in a heart beat.

Solutions

So now you have now identified all the key causes and problems that manifest themselves in poor sales performance and sales results.

Now you’ve identified some of the causes then you’re able to evaluate a plethora of suitable solutions because there is never just one simple fix.

Filter through the solutions – apply some creative thinking and beware of some of the pitfalls that will destroy your decision making capabilities 

If you’d like to understand more about the absolute sales performance of your sales and business development function and how to increase sales and reduce wastage in the sales unit – let me know.

The Morton Kyle Sales Audit is an intensive diagnostic and sales improvement tool, because it’s specifically designed to facilitate rapid sales performance and sales results turnaround.

Carol

carol@mortonkyle.com

0779 002 1885

For further insights into improving sales performance and sales results because every day lost really does cost you, then download Only Dead Fish Go with the Flow – a report on how to create value in your business

Plus – here’s a blog case study showing how to increase sales conversions and profits – Here’s the link

Your can also download some of our most recent sales improvement reports right here:

How to Generate High Quality Sales Prospects

10 Steps to Out Sell the Competition

How You Can Increase Profits by Avoiding the Commodity Gap

Fill the Diary with High Quality Sales Appointments

How to Recruit the Best Sales Talent into Your Business and Reduce the Costly Risks

Plus for other sales performance and sales results improvement insights – check out the blog – Morton Kyle Sales Improvement