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Sales Management Information
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Speed-up Your Sales Cycle This week's article is my response to a question by David Cohen of Bridge-Soft. Is Sales Process & CRM Stopping Sales? Standard metrics and KPI's (Key Performance Indicators) are created usually between The Sales Director, The Financial Director and The Managing Director. These KPI's tell the sales teams what they should be doing. For example, 'Your pipeline should be at least three times of your annual sales target'; 'Your conversion ratio of opportunities to closed orders should be 60%', and so on. Nothing like a bit of statistical analysis from the bean counters to motivate the sales team is there? Remember that old saying?'You can prove anything with statistics'. Here, we see it applied for real, albeit on an unconscious level. Do You Know How to Fire Up Your Sales Staff (When Money Isnt Everything)? Money is the only thing that motivates a salesperson, right? Well, maybe it is time to give your sales staff a little more credit. Leadership - How To Turn The Vision Into A Reality Be clear about where you are now. Audit your strengths and areas for development Drop Discounts and Earn Top Dollar Every dollar you discount is a dollar of pure profit you're giving away. Therefore, your efforts to remove discounts will be richly rewarded. Baditude! As a group of sales trainees took a break from our workshop on selling, the distress they were feeling, was clearly manifest in their intense discussions. It was obvious from their unrestrained conversations that the software being installed to track their sales performance was the reason for their anxiety. It was also evident from their negative comments, that many of these trainees had already given up on selling their company's services and that no amount of sales training could help them sell their firm's services. Our client, a large midwestern service firm, was willing to pay generous incentives for their customer service staff to up sell additional services. Yet, most participants in this training session felt, for a variety of reasons, that obtaining additional sales was impossible. 3 Ways to Increase Your Sales Last week I got a call from Jose, who was looking for help improving his ads. He'd been running the same ad in four local papers for two months and only gotten one response. He was understandably frustrated. With more than a dozen very satisfied clients, he knows that the residential property management services he and his brother provide should interest more people, but he wasn't having any success getting attention or generating leads. How to Beat the 80/20 Rule in Sales Performance -- Part 2 Another key reason why companies suffer from 80/20 performance is their processes for hiring, training and managing salespeople rely almost entirely upon subjective information. Think about it:What are resumes? They are an individual's subjective portrayal of their capabilities and experiences. Getting Off The Advertising And Sales Rollercoaster Seeing the results of advertising your business can be like watching a roller coaster. The day you run your ad you see a flurry of activity; your ph0ne starts ringing, your web site traffic increases and/ or potential clients visit your store. Your hopes soar. sales go up. Two or three days pass and the response goes down. You look at the bill for the advertising and your jaw drops. Your hopes descend. 3 Secrets That Set The Context For Sales Success In today's competitive environment, every organization is trying to improve sales results. In every company, the most important ? and vulnerable ? link in the success chain is the performance of their people. As a sales management trainer and coach, I see that managers across every industry fail to take a hard look at the capacity of their people to provide the service -- whether it's to internal or external customers ? that puts them in a league apart from the competition. Sales Pipeline Forecasting Is There A Better Way? To put it mildly most companies sales forecasting just isn't delivering, a staggering 90% of the deals do not close as forecasted even when the close probability is 75% or over. Even more astonishing is that 54% of forecasted deals are lost to competitors or to a no decision. How To Become A Better Sales Manager YIPPEE! Kendra won, or should I say, "She was hired," by the "Donald." It was no surprise to me. It was all about people and management skills. You either have them or you don't! Kendra had them and Tana, sad to say, didn't. How to Keep Projects From Spinning Out Of Control Are you involved in projects that seem to go nowhere in a hurry? Raise Concern About Sales Competition, Not About Yourself As you are reading this sales article, read very carefully. Because I wouldn't want you to think of a pig right now. No, do not think of a fat, brown, smelly pig right this moment. What are you doing? Do you have a picture of a smelly, fat, brown pig in your head right now? I thought I just told you not to do that. What are you doing then? Pointless Targets I recall a heated discussion with a sales director some time ago where I proposed that the long-term effect of setting activity targets for salespeople would eventually lead to failure. He vehemently made the point that he had systematically imposed activity targets on his sales force and that the result had been to treble average income per salesperson within 18 months. Generous Donor Refused (how qualified business slipped away) Generous Donor Refused Want to Increase the Amount of Business that Your Firm is Getting? Business development is important for every business and refers to the action of bringing in customers or clients that are likely to make positive contributions to a company's bottom line. Business Development is all about establishing relevant and subsisting relationships in the market place. 6 Steps to Avoid Losing Summer Sales It's a fact - the online world dies down in the summer time. Kids are out of school, families are on vacation, there's fairs to attend to, and many are just spending too much time outside to be online. For those that market mostly online, the summer months could be eating your profit. The good news is, it's easy to take your product to where your market is - offline. Commodity Sales Prospecting - How to Stand Out From Your Competitors I have received a number of requests for advice from salespeople and sales managers that sell "commodity" products and services. When I refer to commodities, I don't just mean pork bellies or frozen concentrated orange juice. A commodity is any product or service where the target prospect is likely to be thinking: Not Enough Fresh Sales Leads? Marketing is the New Sales Your sales are down and leads are rare. The phone's not ringing. Let's blame marketing!
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