A sales manager’s number one priority is to create a sales team that is as talented as they are. Think about it. The average sales leader has a team of seven people working for them. If each of those team members has twenty selling interactions per week, that's a total of 140 client interactions. How many can your sales manager be involved in personally? Not many. Yet, a surprising number of sales managers think that their job is closing the deal and making the number.
According to a 2017 Sales Management Association research study, U.S. sales leaders concluded that fewer than one out of five new sales hires added over the past 24 months have been successful.
To err is human - and in hiring it's very expensive. Think about what's at stake if you don't get talent right.
- In recent years, 43% or more of all sellers failed to make quota.
- Typically, 20% of the sales organization produces 80% of results.
- Each wrong hiring decision can add up to a million dollars or more in direct and indirect costs.
The man (Jack Weinberg) who coined the phrase “Don’t trust anyone over 30” is now 77. This may shock some of you who listened to Jack give his speech, or quoted yourself early on in your career. While those born at the end of the generation are teenagers, early Millennials, born between 1980 and 2000, are now part of that group. Does this mean we don’t trust what they have to say because they are now part of the establishment?
Most mergers and acquisitions fail – so says conventional wisdom. It’s true that the business landscape is littered with deals gone bad: Up to 70% of M&A transactions don’t achieve the financial and strategic results expected of them. The reasons for failure, from flawed assumptions to insufficient planning, poor execution, and cultural conflict, are numerous and well known. However, some firms consistently do this kind of growth very well. How do they succeed where others fail?
Finding and keeping top revenue generators is a key challenge that even Best-in-Class companies face. Great leaders understand that their organization is only as strong as its people. To support revenue growth and achieve organizational goals, industry leaders are adopting a relentless focus on getting their hiring strategy right.
Finding top talent that successfully fills a skills gap is a big challenge facing most organizations. While this issue can impact many areas within an organization, finding the right sales expertise can be particularly challenging, since sales has such a direct impact on revenue generation for the company.
As sales executives, it’s easy to spend all of your time focused on the number, while neglecting the process that will get you there. But, the smartest sales leaders know that "providing the how" and developing a process for consistently coaching their reps is one of the fastest paths to meeting revenue goals.
Two of the most overlooked essential skills are listening and questioning. While these may seem like easy skills to master, they're often the reason why many opportunities don't move forward.
Accountability couldn’t be more important than in the sales planning process. That cadence with which you are enabling your managers to inspect and reinforce is critical to driving revenue predictability.
You’ve been there. It’s the end of the quarter and your reps are scrambling for the number. The whole organization is a stress ball.
So, what happens? Sales reps go into the accounts and opportunities trying to squeeze anything they can into the quarter. They discount and lose margin, while they desperately try to close deals that aren’t baked. As sales leaders, you need to ensure your reps are doing two things well:
An effective sales strategy starts with holding tight to basic sales fundamentals. Creating a dynamic sales team that will dominate the sales cycle starts with taking a step back, determining your key challenges and your fastest path to real impact. To help, we've pulled together some expert guidance from the industry’s best sales professionals. They share their thoughts on the top skills sales reps need to master as well as how to boost revenue by aligning sales strategy with value-based messaging.
Learn from their decades of experience and let their thought leadership help you build an unstoppable sales team.
When it comes to sales pipeline, net new logos are never a bad thing. However, your sales reps ability to cross-sell and up-sell is often a lynchpin to your organization meeting its revenue goals repeatedly.
Too often sales leaders issue a directive to pull money from existing accounts, in an effort to make those quarterly numbers. That creates a fire drill for managers and reps who are trying to push forward deals that aren’t baked. The end result is a lot of frazzled sales behavior and an increase in discounting.