That is the number I continue to hear from salespeople in a variety of markets when I ask them how are sales? That is a staggering number when you think about it. Unfortunately, those are the times we live in for now. I continue to believe that the best method for offsetting this decrease is to go take business from your competition. Who are their top customers? Those accounts must always be your top prospects in any economy. In today’s economy, I believe it will be difficult to persuade companies to invest in new purchases. However, if they are currently buying from a competitor, salespeople need to unhook the business. … Read More
Continue ReadingSales Hobble
Great title from Justsell.com, don’t you think? From their monthly newsletter (sorry, no link): Top 3 activities that can hobble a sales day… 1. Talking with people who can’t move the sales process along 2. Unnecessary research activities What’s too much? There’s really no definitive answer. It’s particular to your sales world. Many people start to get a gut feel for when they should move on. The key is to act on it and make the call (rather than making sure every little thing is known before the call – fine line, of course). You might be surprised what you can learn by asking a straightforward question of the person… Read More
Continue ReadingClandestine Conversation
I have noticed this of late – salespeople are having more discussions on their cell phone while in the office. Maybe they go into a conference room, a hallway, lunch room, etc. Is there a greater clue that they may be looking for a new opportunity? Granted, these calls may be nothing more than a personal call and not an employment opportunity. However, I always become suspicious when I see that behavior inside an office. Just an observation.
Continue ReadingThe Straight-Up Truth
These are skittish times, aren’t they? I have seen this among reps and myself – every little item is scrutinized. Communication, email, reports…I find myself looking for subtle clues in all of them. Is a layoff coming? How bad is it? What is going to happen next? These are not productive thoughts. As a manager, how do you quell these fears? There isn’t one move, tool or approach that will cure it, but a concerted effort will help to minimize your team’s anxiety. Selling Power offers up an article that has some feel-good points that I question. However, there is something in the article that caught my eye: Don’t make… Read More
Continue ReadingIt’s All About Leads
Ask any salesperson and they will likely tell you that good leads are the most important aspect of successful selling. I’ve worked for companies at all different levels on this topic – from absolute garbage leads (the company thought they were good) to golden leads (that were often ignored!). The golden leads are money if you have salespeople who can effectively qualify. To that point, Miller-Heiman has released their annual Sales Best Practices Study (h/t Managesmarter.com). One of their many interesting findings: Organizations in which sales and marketing are aligned regarding their target market, customer profile, and lead definitions are in a much stronger position to produce quality leads. Maintaining… Read More
Continue ReadingHiring A System
If you have noticed a decrease in hiring topics of late there is a reason why…few companies are hiring. We have seen it affect our business too. We had an early glimpse of it last year around Q2 as our assessment business started to decline gradually. That is a painful path to go down as you try to figure out a way to counteract the trend. At any rate, companies are still purchasing assessments and some are still hiring. Yes, it is true despite what you see in the media. As you might imagine, there is some serious talent available to companies that have the wherewithal to hire right now.… Read More
Continue ReadingWhat To Do In 2009
Selling Power provides another good article – Expert Advice for 2009 – that makes 4 relevant suggestions for this year. Clearly the economy is foremost on everyone’s mind and is affecting sales in a negative way. As they say, the show must go on. You can read the article for the 4 suggestions from 4 different sales trainers, but I especially noted these two: Shift to opportunity mode. Are you in survival mode or opportunity mode? A survival response to the economy is rooted in the “we just need to stay afloat” mentality. Leaders in this mode react by reducing head count, decreasing employee development, and controlling expenses, resulting in… Read More
Continue ReadingLevers
A lever is “an inducing or compelling force.” Selling in a down economy is best handled through the use of levers. I recently discovered a lever with a material that has certain properties and uses that are not offered by the market leader in this space. The market leader has such a dominant position that most prospects are unaware of the alternate option. In talking to customers and prospects, the lever became quite obvious. Of course, discovering a lever is one thing, defining it within the marketplace is another. The work that now must occur is to translate the lever into the prospect’s world. Brevity is key. Real-world application is… Read More
Continue ReadingProfitable Pockets
I’m wrapping up my trip this week in Philadelphia and I am finding a consistent theme – company revenues are down but there are specific niches, or pockets that each company has maintained. Some have even grown in these areas. Businesses will survive this economy by leveraging their strong markets (maybe not their core markets). I have consistently heard that medical, aerospace and some consumer electronics markets are still relatively strong. Salespeople should be in close contact with their customers right now to identify these pockets and leverage them in their sales activities. Failure to take this initiative could be a truly career-limiting move. Another consistent theme I have encountered… Read More
Continue ReadingA Filtering Economy
This economy is tough for everyone but especially for salespeople. Money is tight, companies are delaying decisions and jobs are on the line. Yet, through it all sales must continue…and they do. One, well, macabre thought through this time is that this economy is a tool that separates the order takers from the closers. If you think about it, the salespeople who have rested on a strong territory, one large customer or golden leads are now having to face a prospecting situation. For some this is a nightmare of slasher movie proportions. I have seen a company’s perception of a “strong” salesperson change dramatically during similar economic times. This downturn… Read More
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