SalesHQ.com offers up an article that discusses the “secrets” of top sales achievers. A couple of the secrets: • Position themselves with the real decision-makers and avoid those without ‘approval power’. They are able to first identify and then access the formal decision making unit. • Recognize when to treat an old account as a new prospect and keep the relationship fresh, alive and maintain profitability And then there is the most important one: • Never entertain business they do not want because they recognize that it takes just as long to work an unprofitable opportunity through the sales funnel, only to lose it at the death, as it does… Read More
Continue Reading12 Strategies For Asking Questions
This article from Selling Power offers suggestions for salespeople when questioning prospects. The author makes some excellent points with one that stands out – number 9. I have edited the content for length. 1. Qualify prospects You can quickly establish if this “suspect” is a qualified prospect with a few questions. Many salespeople waste valuable sales time chasing the wrong company or talking to someone without decision-making power. Develop a profile of your ideal prospect. What criteria must a “suspect” meet to qualify as a bona fide prospect for your product or service? 2. Uncover needs By asking questions and understanding the client’s needs you can determine which benefits the… Read More
Continue Reading5 Questions For Every Sales Manager
A good article here from Selling Power titled Five Questions Every Sales Manager Should Be Able to Answer. The questions are spot on, but pay special attention to number 3 (my editing): Which lead sources result in the highest percentage of closed deals? Do you know where your best leads come from and what those leads look like? When you do, you can better direct your marketing efforts and dollars while boosting your conversion rate. Are your reps selling the most profitable products? Often, reps will sell the products that are easiest to sell rather than the ones that provide the highest margin for the company. Face it: they’re going… Read More
Continue Reading3 Steps To Successful Negotiation
We’re in the middle of a couple negotiations between our customers and their top sales candidate selection. The companies are smaller and these positions are fairly important within the department so they are not “slotted” pay ranges that are more common in larger companies. Both negotiations have similar topics (salary and commission plans are always prevalent in sales negotiations) but different approaches by the candidates. Call it serendipity, but I came across a timely SalesHQ article titled How To Structure A Negotiation. The author, Jonathan Farrington, provides 3 important steps for any negotiation whether it be for a potential hire or a potential customer: The recommended structure for negotiations is:… Read More
Continue ReadingSelling To The C Level
We here that phrase often – must have experience selling to the (insert executive/C level/CEO here). But how many positions actually sell to this level? What do CEO’s actually purchase for their company? Financial planners sell to the C level. High-end insurance salespeople sell to the C level. However, most positions do not sell at that level. One value for a salesperson is the ability to enter at that level and then be sent down to the correct mid-level manager with a referral from the C level contact. Yet even that “kicked down” ability is overstated. The real value is being able to discover the decision process within the company. … Read More
Continue ReadingRedefining The Sales Funnel
This video from Selling Power discusses a unique look at the traditional sales funnel. The author in the video states that the sales funnel has to be thrown out and redesigned based on the prospect’s process. The 4 minute video is an excellent discussion on this topic: If you have trouble with the video, here is the link to watch it on the Selling Power website.
Continue Reading5 Keys To Credibility
Selling Power offers a short, but excellent article that provides 5 subtle ways to build credibility. We often talk about establishing rapport with prospects and then building credibility. This is sales 101, but it is surprisingly sparse in sales situations (emphasis mine): Of the five elements which are essential to building genuine trust (character, competence, confidence, credibility, and congruence), a Persuasion Institute poll found 44 percent of respondents said credibility was most important – yet it was established only 11.4 percent of the time. So here are the author’s suggestions: Admit weakness. Nothing’s perfect. Prospects know your company and your product are weak in some areas. You boost your… Read More
Continue ReadingThe 9 Second Window
That is how long you have to hook a person on a cold voicemail message according to this article on Salesopedia (my bold): 6 Interesting Sales Prospecting Statistics 1. In a recent survey 95% of salespeople said they can sell – they just need to get in front of more prospects. 2. Effective prospecting blends both marketing & selling. 3. Most salespeople HATE to prospect. 4. The best prospectors often close more business than the best salespeople. 5. Nearly 60% of high performing prospectors consider the phone ESSENTIAL to their prospecting success. 6. Decision makers listen to only 9 seconds of a “cold” voicemail before deciding to press delete? Good… Read More
Continue ReadingA Quick Questioning Tip
This tip comes from the Selling Power archives: Never ask a question without first explaining why you’re asking. Nirenberg says, “Just asking a question puts the listener on the spot. However, if you let him know why you’re asking, it makes him a partner,” Nirenberg goes on to explain, “People with sales backgrounds often avoid asking questions because they think that the talker controls the conversation. That’s not true because the listener can always tune you out. In fact, you’d be surprised how often you’re talking to yourself during a sales call.” That is a good tip. Asking good qualifying questions is crucial for successful selling. However, most people have… Read More
Continue ReadingShortening The Sales Cycle
Salesopedia.com offers a good article this week on a timely topic – How to Shorten Your Sales Cycle. The author cuts to the quick on an issue we encounter frequently: To begin with, many sales people just don’t know how long their sales cycle is, we ask and we hear things like “depends” (sometime it fits), “it changes” (it always seems longer during Daylight Savings Time), and the all time favorite, “well you know it’s different in our business”. Well it’s not really. Underlying this is the fact that many reps and organizations do not know what their sale looks like, they have not deconstructing their sale, identified the basic… Read More
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