Can every member of your sales team deliver strong value propositions and elevator pitches that address a prospect’s needs while building credibility and peaking interest? Is your team consistent and effective in their approach strategies, both individually and collectively?
Sales Result Blog
· November 23, 2015
Every sales manager is trying to predict the future. Having accurate sales projections through the entire sales funnel is the best way to know if the sales team is on track, but many organizations aren't tracking what they need to in order to be accurate. Visibility into the activities and events happening throghout the funnel allows for action to be taken well before missing revenue or bookings targets. A leading indicator is a measurable metric that can be used to predict future sales success, making it the best way for any sales manager to keep their team on track.
Common Leading Indicators:
- Good Conversations
- Qualified Leads
· September 15, 2015
Account Plans are detailed blueprints of the relevant information needed to grow an individual account. Each company should have their own set of details required for their Account Plans, but many aspects are universal. Good Account Plans allow for reps and managers to create strategies to improve close ratios and win more business. A thorough Account Plan provides many useful details about an account, which will help you build a winning strategy. The best sales managers will coach reps on what aspects of the account to pay special attention to, as well as how to leverage that information to reach their goals.
Best Practices for Account Plans include:
- Enforce an Account Plan for all big deals
- Have Account Plan Reviews on a regular basis between rep and manager
- Integrate the Account Plan with Salesforce.com or another CRM solution
- Save Account Plans for future use in that account
- Account Plans should include at least White Space Analysis, Relationships, Timing, and Competition
White Space Analysis
One of the most important things to know about a customer is their current and potential value. Do a white-space analysis to discover what products they have, what they want, and what they will never buy. Customers who have met, or are near their potential value should still be nurtured in a maintenance role, while customers that still need more of the solutions you offer should be targeted for cross-selling and up-selling.
· September 2, 2015
What happens when a VP of Sales can't hit their number? Often, a new VP of Sales is brought to get the job done.
So, how does a great VP of Sales keep their job, hit their number, grow their team, or at least accurately predict their performance? They understand the sales funnel and how to use it to their advantage.
· August 25, 2015
The CEO’s job is similar to the captain of a ship on a long journey. He must check a map, make a plan, and then execute. Success is determined by the captain successful arrival at the destination, not if he made it to every stop along the way.The captain’s map is the CEO’s forecast, because it shows him what lies ahead. In the same way that a bad map can wreck a ship, an inaccurate forecast means the CEO is going to be lost.
· August 24, 2015
Understanding the sales funnel is one of the most important things that a sales manager can do for their team, for themselves, and for their management. Knowing your key metrics and monitoring them appropriately will improve your forecasting abilities, as well as increase the effectiveness of the entire sales organization.
· August 21, 2015
The use of BANT in the sales department, is different than “BANT for lead generation.” If you are not familiar with BANT, please refer to “Intro to BANT” for a refresher. The sales department has the responsibility of qualifying leads in all four qualifications: Budget, Authority, Need, and Time. The more effective they are at this, the more effective they will be in qualifying their opportunities.
· August 20, 2015
If your company has a lead generation division, then you have heard the sales department complain about the leads. That there are not enough, or the ones they do get are not good enough. The phonebook has every lead you need, but it is all about finding the right balance of quality and quantity. In our experience, this is where BANT makes a tremendous impact.
· August 19, 2015
If you are not familiar with BANT, please read “Intro to BANT” and “Getting to BANT” before continuing. Pairing BANT with your CRM system fosters two vital changes to your organization that will help improve efficiency and effectiveness. Using the BANT systemin the CRM changes the mindset of the sales reps, and provides significantly more visibility for management.
· August 14, 2015
For those of you who do not know what BANT is, it stands for Budget, Authority, Need, and Time. If you are not familiar with BANT, or need a refresher, I suggest you read “Intro To BANT” before continuing. In this article, I am going to cover some great qualifying questions for each of the categories, and why they are effective.
· August 12, 2015