Everyone talks about customer needs. It’s a phrase that’s thrown around as often as “selling value.” It’s thrown around so much, in fact, that many salespeople have become numb to it. They still spend the bulk of their presentations talking about their companies, their products and the reasons why deals must get done sooner rather than later. Customers are left scratching their heads wondering what any of that has to do with them.
Sales Management / Leadership
Having a successful sales strategy and deploying the correct tactics to execute it is the province of your sales management and leadership team. These posts can help you carry out that mission.
7 signs your new rep won’t work out – and ways to hire better
Some new hires look great on paper, even better in interviews. Then they’re disasters down the road. Here are seven signs service and sales reps won’t work out – and how they’ll ruin the customer experience if you don’t act fast.
Normally, new — and even veteran — customer service and sales employees who fail to reach goals, or don’t catch on to your processes quickly are easy to spot. Then, when they outwardly don’t succeed at the job, they either eliminate themselves from it, or you tactfully do.
Either way, it’s usually done before too much damage from inexperience and poor performance is done to customer relationships and department morale.
Your company making this fatal planning flaw?
For decades, companies have insisted upon forecasting as a method of planning for almost every department. New research reveals that could be costing companies more than it’s earning them.
A new study, conducted by the Institute of Business Forecasting and Planning, found the margin of error for companies that forecast and plan for marketing, inventory, sales leads and other core competencies a month in advance is approximately 16%-28%. What’s more? The average company that forecasts a quarter in advance generally experiences a 50% error rate, and the curve only gets worse from there.
High-risk sales models that get results
Determining which sales model makes the most sense for your business is a little like trying to balance a scale – every change you make on one side is bound to have an impact on the other.
Case in point: A recent CSO Insights study highlighted a popular sales model that resulted in more than 85% of reps nationwide achieving quota.
The downside: The rigorous training and commitment required to make a model like that work also resulted in a 24% turnover rate.
4 hidden keys to having a higher retention rate in sales
All veteran sales managers have one thing in common, according to new research.
A study by the Sales Benchmark Index shows that at some point, every supervisor has regretted promoting a great salesperson into management.
While there are a lot of sales pros who are also great leaders, in some cases, managers find promoting superstars into management:
The 5 habits of top salespeople
If your salespeople exhibit these five traits, you probably have winners. If they don’t, you may want to find out why not.
These come from Ted Barrows, a top sales trainer and consultant:
Which type of comp plan is best for your business?
Every business is different, which is why one-size-fits-all bonus plans rarely have the desired impact, long-term. According to Sibson Consulting VP Joseph DiMisa, every type of commission or quota plan has its advantages and disadvantages. In a recent article, DiMisa explains there are six different types of sales compensation models. We break down the pros…