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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.

New Starters Sales Training

New Starters Sales Training

New starter sales training has to take in so many things.

First of all, these people are new.

They may not know heaps about your products, services, competitors, industry trends, jargon, key players…and the list goes on.

And, they might not have a great deal of sales experience.

Maybe you’ve recruited people who have a great attitude. People culturally aligned with your business values. People with great energy, drive and ambition. Maybe you’ve decided to ‘grow your own’ sales talent…

So, it’s definitely not about polishing existing skills.

It’s about building the rock solid sales foundations so that the new starter can thrive in their new environment.

It’s as much about confidence, motivation, freedom to fail, learning to dance with the prospects.

Having some good quality, no hassle, no pressure, personable sales conversations.

So, Where Do You Start?

First of all, acknowledge that Rome wasn’t built in a day!

This means critically thinking about how the new starter can be of value to the business from day one whilst they’re learning the ropes, and all the time moving towards that front line sales role you’re recruited them for.

But even more important than that, is getting the new starter to feel confident and motivated in their new environment.

Quite often this means giving them a sense of purpose. A very specific set of self measuring tasks so they get to take in relevant and valuable information whilst being of value and gaining a sense of their contribution to the sales function.

And that looks like?

That depends on you, the firm, the team structure.

Some firms chose to have the new recruit doing lead research and gate keeper type list building tasks.

Other firms have new recruits list cleaning.

So do lost sales calls – very simple market research questions about current usage, number of users, next chance to quote, what would be need to do differently? Why didn’t we win it type of carefully structured calls.

It all depends upon the circumstances in your business.

And this is important.

It’s important because no one gets to be a sales super star in one day.

So, the worse thing you can do in taking on new sales recruits is to take them on, give them a desk and hand a target around their neck. That’s not good for them, and it’s not going to be good for your business either.

Fly or die isn’t a line I hear very much at all, and if I do hear it in a sales function, I only tend to hear it once.

What Else to Consider in New Start Sales Training?

Well, the first sales you make should always be to the sales person, right?

Because if the sales person is not sold on your product/service then there is no way your prospects will ever be sold on them. That’s just a simple fact of sales life.

So start with very simple product knowledge, competitors, strengths/weaknesses, trends/fashions.

Sell you to new sales recruit like they’re the most important sales prospect in your sales pipeline.

If you’ve picked the right person, they will be hungry for knowledge and have tonnes of questions.

And if you’ve picked the wrong person, shucks, here’s where you find that out too!

Find a Champion

Find the new recruit a mentor, someone in the business who has the time, tenacity, intelligence and communication skills to guide the your investment through the early stage angst, self doubt and steep learning curve.

This mentor can also ensure you don’t keep the new recruit in the nursery pen too long.

You see, there is no universal solution, no universal plan, and if you try to impose a one size fits all solution, you’ll lose the best people, you’ll just not be moving fast enough for them. You know what that will leave you with right?

Well what about sales training…when does that start?

First of all reflect on why you recruited this person.

Then recognise that trying to get them to be the sales person you want them to be by following highly scripted call flows is just one way to go, the other way would be to see what sort of sales skills they develop once they are immersed in the sales function and being mentored by a responsible leader.

Then it’s time to look at the new starter sales training. After all it’s a big investment and any business would be wise to play to the new recruits strengths and not try to impose some meaningless generic sales sales course that has no context or relevance.

Also, be flexible on what you new starter sales training looks like.

Some people work better using a sales coaching model. Others like, and respond well to directed self learning and peer discussion.

If that’s not available then why not reflect on the self learning and self development culture you have in your business.

The Bottom Line

Sales has come a long way in the last 2/3 years, so have the routes to increasing the sales skill sets and building sales intelligence in your teams.

Good sales recruits are harder to find, although they are out there. However, more and more firms are looking at ‘grow your own sales talent’. That’s great, as long as you realise that it’s a huge commitment, with an extended pay back when done correctly.

If you’re looking at adding to your sales team and want to explore the new starter sales training programs, you can contact Morton Kyle on 0114 236 1221 or email carol@mortonkyle.com

New starter sales training could be the answer if you’re business is tired of paying over the odds for jaded sales ‘professionals’. You know, those who have done the obligatory circuit around all of your competitors. If you’re looking to create a sales function where you don’t need to waste time unpicking the unhealthy sales habits, or you’re simply looking for the business culture you know you can create when attitude and enthusiasm means more that sales experience in your industry.

Happy Selling

p.s. To get free sales, business development and sales improvement tips straight to your inbox, perfect for sales meeting, daily sales huddles and sale coaching – hit the link Advanced Business Achiever

Also:

If you’re looking for a sales improvement program for your existing sales team – you can check out Online Sales Training – TurboCharged Sales, or come along to our Sales Improvement Workshops, running monthly

And if your sales function is performing below expectation – we have a range of tailored Sales Assessment and Sales Audits available to suit all firms and challenges.

Sales Improvement – 6 Ways to Amp Your Sales Results on Zero Budget

Sales Improvement – 6 Ways to Amp Your Sales Results on Zero Budget

What is not having a system that delivers predictable sales results costing your business?

Every firm is seeking continuous sales improvement. They would like to achieve that on zero budget. Every firm seeks predictability and stability.

It’s the Holy Grail because once you’ve cracked that formula for your sales lead generation and closing, then you can simply plug and play and collect the cash. Simply put your sales process delivers great sales results consistently. Primarily due, to a large degree, to you removing many of the failing and costly variables in the sales process variables.

The result? Predictable sales growth, high level of sales stability, fewer peaks and troughs. Plus higher levels of confidence in the future…exciting times? You bet!

And it won’t cost you, because you’ve probably already got all the resources you need…it’s the application of those resources that’s causing the gap.

It why so many firms miss out on implementing the key elements of a predictable sales system!

It’s costing them, and maybe you, fortunes, every single day. Business is sitting on the table or even worse dropping into competitors laps way too easily…and what’s even worse is that margins are being compromised on sales that are landed.

Predictable Sales Results and Continuous Sales Improvement

I’ve completed two quite intense sales audits this month and something struck me as quite odd.

Whilst writing their respective and separate 30 day improvement plans, I saw more than a few common elements between the two firms problems. The common elements existed even though the sales teams operated in different industries, selling different products, each firm operated at different price points and are selling in to different decision maker levels.

What was even stranger was the key common elements existed even though one firm was doing ok, but had plateaued, whilst the other sales function was in a real long term sales dry patch.

Despite all of this the root causes were essentially the same.

The question is; are they the same for your business too?

So What Does That Mean?

Very few firms go from soaring success to total sales nose dive over night. Maybe occasionally if there is some disaster or unplanned legislative changes, so I can can accept that depressed sales performance is a spectrum that can slowly morph from a plateau to a dip to a dive to insolvency…

However, this doesn’t distract from the fact that there are critical success factors. It is the absence of these critical sales success factors that sets of the chain of events that see sales results start to slip and then dive…

Predictable Sales Results – Is Your Sales Function In Danger?

When you look at this list below, just remember that any sales function can address these issues immediately. Remember that providing your take quick action you’ll see some sales improvements.

I hope the list gives you food for thought, and also a cause to take action if you’re seeking predictable sales results and the huge benefits associated with such predictability.

How many of these easy to fix sales improvement options are available to your sales function, and what could your sales results be if you looked at implementing just a few over the next month?

Don’t try to do all of these at once.

You’ll get on everyone’s nerves and be the sales dictator that no-one signed up for. Just pick two or three and see what happens:

  1. Look at your sales management information at least half daily…personally I like hourly because that way there can be no slippage…but half day might work for you. This does two things. Firstly, you get an opportunity to praise high activity/high results success. You get to ask questions and unblock any issues with the rest of the team. Without a decent level of activity, everything else is meaningless. Get on top of activity and stay there. Which does not mean managing the team by numbers – any monkey can do that – look at their conversion rates, look at the meaningful outcomes, look at who is closing, advancing sales and who is simply going through the motions.
  2. Don’t confuse talk time or client facing time with selling time, review the selling process. Are sales execs qualifying hard enough? Closing soon enough? Educating, questioning, advancing the sale fast enough? Are they having an easy chat and picking the low hanging fruit?
  3. Get embedded in the team – the fastest way for any manager to change the sales performance of the team is to start a high intensity side by side sales coaching program. Don’t think you can do 3 or 4 hrs per day sat coaching the team? Of course you can! get your mobile device so you can work any where and simply plug in. Nothing better than someone listening in to really get a sales person to up the game, and you get the chance for immediate 1:1 feedback. Win!
What Next?

The top three issues should bump your sales results considerably…but there are three more I want to share with you:

  1. Pay attention who the sales execs are pitching to…the number of sales execs that pitch to gate keepers in the hope they will put them through is a shocker (but they need the talk time right? of course, that’s why side by side coaching is so important). It’s also important that your sales execs don’t try to be Idiot Converters
  2. Have a performance improvement plan for everyone, (I call it a sales coaching plan) and just as the doctor leaves your notes at the end of the bed during a hospital stay, fill in the daily report card on what needs to improve daily due to your coaching and guess what? You’ll see fairly rapid sales skills improvement, and the inevitable knock on affect of more sales, better quality sales…in less time.
  3. Don’t treat your performers and your non-performers the same…I’m not explaining this further, you’ll know what I mean by this
So Will You Get Predictable Sales Results?

You’ll be well on your way.

Building a business development, lead generation and sales closing system that delivers predictable sales results is not just 6 bullet point.

The points above are 6 key reasons why firms DON’T get semi predictable sales results, and are in a sales slump/dive.

Don’t ignore the obvious.

The market is no tougher for you than anyone else.

The buyers are no more exasperating with you than your competitors

The economy is not penalising you, it’s impacting all.

Don’t listen to it.

Take control of what you can control (click here if you’re totally out of control or heading that way…) and you’re well on your way to predictable sales results…

Happy Selling

Carol

0779 002 1885

carol@mortonkyle.com

P.S. Want to receive a regular feed of sales improvement and business development tips? Then simply claim your weekly free (and span free!) subscription to The Advanced Business Achiever. It’s great for sales meetings, in house sales training, daily coaching and daily huddles…

P.P.S. If you’re looking for a way to create your own internal sales and business development system to predictable sales results…you can find that here TurboCharged Sales 

And if you want to book your very own Sales Audit – hit the link here for more details. Or give me a call for a confidential chat 0779 002 1885

So, lots of ways to get predictable sales results…let me know how you get on

Sales Pipeline Management: Do Not Resuscitate

Sales Pipeline Management: Do Not Resuscitate

Sales Pipeline Management: Your Sales Crystal Ball

Sales Pipeline Management is the key to predictable and stable sales performance.

That means sales growth, sales security, certainty and the ability for any business to produce accurate sales forecasts.

So today, whether you’re a sales leader or a sales person, let’s think about your sales pipeline.

How do I know?

Because proactive sales pipeline management is a daily task. For sales professionals their sales pipeline is their true north.

The sales pipeline feeds the sales forecast…so managing the sales pipeline is a high priority task.

The sales pipeline is the holy grail of sales crystal balls.

Your’s isn’t?

It should be.

Sales Pipeline Management Facts

The profile of a typical sales pipeline will show you it’s a mixed bag; for example.

  • You’ll have some great prospects in your sales pipeline
  • Some rubbish in there
  • You will have new leads in there
  • You’ll have some very old leads in there
  • Some entries in your sales pipeline will be ready to close, some just in the process of being opened up
  • Other records will offer you huge sales rewards and some will barely cover the sales acquisition costs
  • Some you’ll love dealing with, some you’ll want to shoot
  • Others won’t know what they want, some will know exactly what they want but can’t afford it
  • Some will be liars, some will be chancers and some will be using you to get a better price to beat your competitor with
  • Occassionally, youll find those who will enjoy your hospitality with no intention of buying from you
  • Some will have told their team to always say they’re in a meeting when you call
  • Often there will be others who will always see you to chat…picking your brains for free is part of the deal…right?
  • Some will think they know best, yet continue to fail, they want to do it the hard way first

Just a fragment of what you might find in a typical sales pipeline…the good, the bad and the ugly is just a cliche, so how about the prospect, the chancer, and the waster?

 

Key reminder: if you’re like most sales teams your sales pipeline is 90% rubble and 10% gold.

 

Sales Pipeline Management: Think Again

I’m not jesting when I tell you that your sales pipeline should be your Holy Grail. It REALLY is your sales crystal ball if only you’d let it be.

No-more guessing. No more getting half way through the month and realising the sales target is just not going to happen this month.

No. A great, well managed, quality based sales pipeline gives you and your business all the sales intel they need to remove risk and to provide the basis for a health sales result at the end of every month.

Plus, it’s a great start for a replicable sales and business development team…but that’s an aside.

Today

Today, when you look at your sales pipeline, think about this:

Think about getting rid of all the dead beat prospects, all the prospects that are just taking up space, the ones that your eyes fly over without registering any more, the prospects that give you hell and always want something for nothing, the prospects that take forever to pay, the firms that only use you when your competitors have put their account on stop.

Say no to continually calling those prospects that don’t respond to calls, ignore emails, tell you time and time again that they’re the decision maker when you suspect they’re not.

Reposition those prospects that have said yes 10 times and never sent the order, say goodbye to the prospects who give you grief or just call you in to batter you on price with threats to go to your competitor.

Make today the day you say ENOUGH!

DO NOT RESUSCITATE

Your time is precious because you can earn whatever you want when ever you want. If only you can manage your time.

A poorly managed sales pipeline is a killer.

Undiscerning sales pipeline management will definitely diminish your ability to close business effectively and efficiently.

Poor sales pipeline management will also compromise the quality of the sales you close.

Instead of carting around 600 questionable sales prospects (for example) be very cute and very commercially attuned to where you’re spending your time (and therefore your money) and clean out all the gunk because all those prospects that you’ve been nesting in the hope they’ll somehow wake up to the value you could deliver, probably won’t!

Give Up On Being A Sales Stalker

Surrender the wasters to the universe…at best your competitors will pick them up and get mired in the prospect’s maybe promises.

At worst, you’ll have set yourself free. Free to concentrate your fabulous skills, efforts, talents, time and money on prospects that are worthy of that investment.

So with pride, with head held high, and a huge sense of relief and rebirth slap those DNR stickers all over the prospects that are clueless, spineless, not interested, not worthy and just stuck.

Instead, march forward with the brave, the enlightened and the glorious because that’s what you deserve!

Your sales pipeline is your key to sales glory, endless commission and a genuine joy of doing a great sales job…and your discerning sales pipeline management skills are crucial to you achieving this.

Ditch The Losers!

You owe it to yourself.

Fly higher and devote time to the prospects that have the potential, insight, budget and mindset to work with you.

Don’t compromise on the quality of your sales prospects or the quality based criteria in your sales pipeline.

Your sales pipeline management could be all that stands between you and huge sales success.

Happy Selling

For further insights on sales pipeline management as well as information on how you can boost sales and super charge your business development efforts for free – hit the link – The Advanced Business Achiever

If you want to know how to fill your sales funnel and sales pipeline with high quality sales leads – check this out Leads ++

And if you want to discretely discuss sales improvement in your business – contact me, Carol on 0779 002 1885 or carol@mortonkyle.com

You can also check out the blog for articles on improving sales performance, building replicable and scaleable sales and business development systems as well as sales pipeline management, but act fast, because this is the fastest easiest way to boost sales performance – Morton Kyle Sales Improvement

For further insights into sales pipeline management, sales funnel creation and creating accurate sales forecasts – check this out – tell me more

You can also check out the Morton Kyle Sales Audit for a super fast insight into the real reasons you’re not getting the sales results you want, need and deserve.

Here are some of our most recent sales improvement reports – all free, instant downloads

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

 

 

 

Your Sales Conversion Rates: Your Very Own Sales Crystal Ball

Your Sales Conversion Rates: Your Very Own Sales Crystal Ball

Sales Conversion Rates: The Ultimate Sales Metric…or is it?

Lots of sales leaders and sales people monitor their sales conversion rates since it’s a good top line indicator as to how things are going…from staying steady to gently increasing or, heavens forbid, heading south.

But, I also know some firms who don’t pay that much attention to it at all. Personally, I think that’s a huge mistake and hopefully, soon, you’ll agree with me.

Here’s why…

Sales Conversion Rates, whether you are a sales person or a sales leader, informs you how you are using your most precious money making commodity….time.

Plus: anything that allows you to predict future performance in sales is worth watching.

Very closely.

Sales Conversion Rates: Where do I measure them?

Your sales process, documented and detailed, rigid or flexible, will have certain gates in it.

If you subscribe to my idea of a Plug and Play Sales Model – see here – then you’ll know what I’m talking about.

But, for the sake of speed, let’s assume you don’t.

You’ll know (or should know) how many sales calls you make in a day. How many of those convert to opportunities – meetings (that’s one gate) or quotes (that’s another gate)…or declines, or call backs, or deadlines…(these are all gates too)

You’ll know how many of those meetings turn to quotes. how many convert to orders immediately. How many decline and how many pipeline for another time (that’s another 4 gates). Even more gates will you consider monitoring sales cycle times also.

From your quotes, you’ll get another series of sales gates….

And at the end of that, you’ll get a final, maybe monthly, weekly or daily overall sales conversion rate based activity during that period.

It’s all about knowing what gates to measure

What gates to pay especial attention to and how focusing on the quality of interaction at each of those sales gates can dramatically improve the sales conversion rates for the individual gates as well as overall sales conversion rates.

Further sales metrics that drill even further down into the sales process is you’re serious about really improving your sales performance are detailed here. Just hit the link for your free guide – instant download – The 7 Sales Metrics to Measure, Manage and Monitor.

You see, measuring just one overall sales conversion rate is just not enough…it doesn’t give you a detailed enough picture.

And certainly you won’t be able to do the sales improvement diagnostic you need if you’re serious about really boosting those sales figures…

Sales Conversion Rates: The Fastest Way to Predict the Sales Future

Once you know the metrics at each of your selected sales gates, you’ll have your sales recipe. If you’re struggling as to how to calculate this – see here.

Your sales recipe is the formula, which may fluctuate slightly, allows you to judge sales performance, manage sales resources, predict sales performance, optimise sales resources and most certainly is the first step in creating any scaleable sales model.

It’s also the crux of real sales or performance management program.

5 Things To Think About With Sales Conversion Rates

  1. Too high and it could mean you’re pricing too low, or at least it’s an opportunity to reconsider your offer, your pricing, your route to market, how you package your product/service, and how you compete in the market place.
  2. Too low and it could be an indicator that you need to look at the prospects your chasing and the offer your proposing. On the whole this presents a huge amount of opportunity for positive growth (Click here to find out how one company went from 1:25 sales conversion rate to 1:3, and tripled their average order value)
  3. A sales conversion rate that stays the same (as long as it’s healthy) could mean many things, but on the whole it means you’ve got a solid test bed for testing out some new sales initiatives; namely – testing out new pricing, new positioning, different sales techniques.
  4. A sales conversion rate that’s in rapid decline should set all alarm bells off very quickly. Are you under competitor attack? Is it dissent in the sales ranks? A change in product? A raft of customer complaints? (A branding issue? Pricing problems? Quality issues? Read here about poor customer service nearly killed one firms new business efforts).
  5. A sales conversion rate that’s increasing dramatically – well first thing you do is celebrate…obviously, the second thing you do is monitor customer complaints…and then refer back to my first point.
Sales Conversion Rates: The Sales and Business Thermometer

Sales Conversion Rates are gold to me. At a glance I know who is performing and who is not. I know where to focus my efforts and what to leave well alone.

I know who’s on fire and who needs a fire setting underneath them.

Sales Conversion Rates tell me what types of customers my clients should avoid. What types they should hunt for, what to charge in what sectors, how to pitch and present in those sectors, as well as when to actively hammer a region as well as when not to waste time.

Monitoring sales conversion rates works.

It’s very effective and takes no time at all to set up, and it’s the certain route to optimising sales resources and minimising costly waste.

Happy Selling

Carol

carol@mortonkyle.com

779 002 1885

P.S. To check out more sales improvement insights and business development strategy, then check out our blog  

Plus: to receive weekly sales and business development support, directly into your inbox, just hit the link. Claim your free subscription to 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

 

 

How to Improve Sales Performance: The Friday Sales Rant

How to Improve Sales Performance: The Friday Sales Rant

How to Improve Sales Performance: The Friday Sales Rant!

You’d be surprised what businesses will do to improve sales performance.

You’d be surprised the lengths they’ll go to, the resources they’ll commit and the efforts they’ll expend all in an effort to improve sales performance.

Selling their soul? No…but not far off.

So, why, why, why, why do business owners and sales leaders miss this one simple trick? Continue reading

Sales Performance: A Sales and Business Development System to Deliver Accelerated Sales Growth

Sales Performance: A Sales and Business Development System to Deliver Accelerated Sales Growth

Sales Performance: The Best Sales and Business Development System

Sales and Business Development Functions are worthless if there is no sales and business development system in place which is used throughout the business.

With regard to maximising sales performance, what’s the best sales and business development support system look like?

First of all, let’s think about what your Sales and Business Development System should deliver for you and your business.

We could make this a really complex list and you’d probably go no further than a very complex list, so I’m deliberately going to make my list very simple for you.

Your sales and business development system should deliver:

  1. Quality opportunities that convert to profitable sales
  2. A predictable supply of the above
  3. An opportunity to continuously improve conversions at all stages in the sales process

Just three things. That’s all.

Those three things will deliver you the following:

  1. A regular, predictable and controllable supply of profitable business
  2. An opportunity to accelerate sales growth in a sustainable manner at a controllable rate that is appropriate for your business

What more do you want?

I thought not.

What Should Your Sales and Business Development System Look Like?

Again – it should be really simple.

So simple it’s child’s play.

I’ve seen sales processes that stretch around the block and back again…trust me when I tell you, the more complex your sale process, the more things will go wrong AND, even worse, you’ll rarely be able to find the root cause quickly…that means the sales fix is a million miles away.

Keep it Simple.

Like this:

  • Qualified Leads In
  • Meetings Booked
  • Quotes Out
  • Converted Customers
  • Retained Customers

Too simple?

Too right!

But, in reality, those are the key 5 sections that will affect your profit and your sales throughput.

Sure – there are mini sections inside these 5 sections but the reality is – if you manage these 5 sections and the 4 gates in between them, then you’ll be doing what 90% of the sales teams working today ARE’NT doing.

How good would you feel then?

You see, these four gates (shown in red) – from Leads > Meetings > Quotes > Converted Customers > Retained Customers, will show you exactly what part of your sales process is letting you down.

Once you know that, it’s a very simple deep dive to improve that section.

If you want some guidance on what you can do to improve each of the 5 sections – take a look here.

How to Set Up Your Sales and Business Development System?

3 key rules:

  1. Keep it simple
  2. Don’t make it complicated
  3. Remember rule 1 and rule 2

Seriously, I can’t stress it enough…complicated and complex will kill any ambition you have of accelerated sales growth.

You can wave goodbye to highly predictable sales growth and it will cost you heavily in time, profit and opportunity, plus you’ll be forever cursing the day you spent creating a monster that’s unmanageable.

And you know the worst thing? Without such a simple, transparent and segmented sales and business development system, you’ll be FOREVER reliant on the skills of your transient sales team rather than the potency of your sales engine, and if that doesn’t scare you then stop reading now, because if you’re putting your business performance in the hands of the sales team who can up and off, en mass, in a heart beat then you’re playing with fire.

Trust me.

So, top line – how do you set up a Sales and Business Development System for your business?

Take a look here for an initial insight.

Your Sales and Business Development System – 10 Things to Think About.

Transparency – each section (shown above) should have it’s own high level of transparency, it’s own accountability and it’s own check list

Sales Process – have a sales process that EVERYONE sticks to. No deviation, no hesitation, no question – you’ll never be able to scale and replicate a working and profitable sales and business development system if everyone is doing their own thing – this will help you.

Set KPI’s for each of the 4 gates that exist between the 5 sections. They are the KPI’s you manage every single minute of every single day

Metrics – for additional sales metrics to check you’re on track – down load this

Lead Quality – be very very careful of the leads you put in the top of your sales process – your sales and business development system will die a slow and painful death if you treat all leads as being of equal value and if you shove any old rubbish in there…no point keeping count if you’re just counting worthless buttons…make sure your leads are high quality, pure gold prospects you’d LOVE to work with – for more details check this out for advice on How to Build A Great Sales Funnel

And don’t forget these in your Sales and Business Development System 

Get Creative – to drive accelerated sales growth you’ll need to get creative in each of your 5 sections. Here’s two insights  to show you how you can do that – check them out – download – Only Dead Fish Go With the Flow, check out this blog on How To Increase Price.

You’re Selling What? – think about what you’re actually selling, you’ll be able to get a greater insight into this by asking what your customers are actually buying, because once you understand this not only will you be able to accelerate your sales growth you’ll also be able to increase your prices…here’s a guide to help you – just hit this link

Value – think about what value you bring to the buyer at every single stage. If something in your sales process doesn’t deliver value to the buyer, then serious consider getting rid of it.

Managing Poor Sales Performance – you’ll need to be tough, there’s no point putting up with sub par sales performance if you’re a business committed to sales growth – check this out – How to Deal With Poor Sales Performance 

Get Competitive – be prepared to step out of your comfort zone and make some noise, sure you can still keep your operations covert if you wish, but as far as your prospects, buyers and sales force are concerned – be loud and proud – check this out if you want a nudge in that direction.

And one final thing – make sure you’ve got your sales and senior management team on board acting as sales performance improvement functions, sales coaches, sales problem solvers and sales guides…this is a big task and some of your old guard will rally against the change, check here...if you’re committed to accelerated sales growth I know you’ll do what you need to do.

So can any business set up a sales and business development system?

Yes – any business can.

Few chose to.

Many leave it in the hands of the individual sales functions, sales people, sales managers and they pay the consequences when key sales people leave.

Accelerated sales growth relies on ALL aspects of the business pulling in the same directions – that means any business undertaking such a commitment to increase sales and business performance needs an agreed, workable and sustainable sales and business development system.

Few firms have this.

The cost associated in not having such a system is huge – time, money, market share, brand value, competitor growth, missed opportunity, lack of responsiveness, mediocre business and sales performance…all negatively impacting the bottom line.

I hope you think about how your business could benefit from such a system…

Any questions…call me

Carol

carol@mortonkyle.com

0779 002 1885

If you’re looking for an online sales improvement and business development training course – check out TurboCharged Sales