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?
If you are wrapping up the fiscal year, one of two things are happening. You are either feeling really good about how your sales team is finishing up 2016 or you are trying to figure out how not to repeat the same problems next year.
If you want to improve sales productivity and generate more revenue per rep, you need a proven sales methodology you can reinforce. When we talk about sales transformation, we mean changing the behaviors of your salespeople in a way that drives results.
Simply scheduling a training event is not going to drive measurable impact. You need to optimize that program for success.
Investing time, money and other resources in a sales initiative often means there are high expections for measurable results. Below are some best practices for generating the best results from your sales training initiatives.
Hiring a sales consulting partner is a big decision for your business. You know your organization best. It's important to keep what's working and fix what isn't. To produce lasting results, a sales leader needs to “find the right fit” for the critical pieces of the sales transformation puzzle.
Long story short, if you need to generate more revenue per rep, you may want to consider bringing in an outside perspective. It's likely that the problem won't go away without a concerted effort to change course. Below are four challenges we see most often.
Best-in-class sales organizations invest in training programs for even their most veteran reps. Aberdeen research shows that top companies use external sales consultants 61 percent more than their under-performing peers. Sales training is a competitive and crowded industry. When you're picking the right solution for your organization, it can be difficult to cut through the clutter.
Google "Sales Training" and you'll see that you can hire everyone from a single consultant to a firm with customized solutions that scale. No matter your decision, there are some basic techniques you can leverage to ensure you're getting the return on your coveted sales enablement dollars.
Here are some of our best practices:
Thirty years ago, customers’ primary demands were related to product quality. Once international competition met and ultimately surpassed the existing quality standards, it became critical to build quality assurance into most elements of the manufacturing process in order to remain competitive. With that accomplished, while still necessary as the price of entry, quality could no longer be considered a significant competitive advantage. Twenty years ago, with higher quality standards in place, service became a competitive advantage and the driving force in winning market share. Consequently, demands for service forced suppliers to look at customer satisfaction as the primary criterion for success.