Every sales manager should be looking for information about the future. Having accurate sales projections through the entire sales funnel is the best tool to know if the sales team is on track. This visibility allows for action to be taken far enough in advance to avoid major sales shortcomings. 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.
Sales Result Blog
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 sell more, so if you need a refresher in things to include in your account plan, read: "Account Plan Best Practices." An account plan without a strategy ads needless work to the salesperson’s busy schedule and often fails to be effective. Below are some of the more common components of an account plan, and I encourage you to leverage these areas to create a strategic Account Plan for your sales teams.
· September 3, 2015
A thorough account plan provides many useful details about an account. Details are not useful unless they are put to use in a winning strategy. A good sales manager will use each detail from the account plan to formulate a particular part of the strategy that results in more closed sales. Some common uses of the details from an account plan are as follows.
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 have should be targeted for selling/upselling.
· September 1, 2015
A VP of Sales is considered successful if they are able to manage their sales team effectively enough to reach their number each quarter. Hitting consistent revenue goals keeps the on the right track provides stability. When this number is met, the CEO is able to use the revenue to invest in the company’s growth and the sales reps are all paid well or their contribution in the form of bonuses and commissions. In our experience the best tool for the
· 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