Predictably Succeeding in B2B Sales |
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Sales 2.0 -
Sales 2.0
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Written by John Cousineau
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Ok. A confession. I'm in the tool business, yet I generally hate business tools. For the most part, I've found over the course of my career that they're generally over-hyped in terms of their contribution to my productivity and way more time consuming to learn how to use than anyone ever led me to believe at the outset. In fact, even in instances where the tools had great potential to improve my productivity, my inability to use them effectively often impeded the contributions business tools could make.
Les McKeown's views on how firms achieve Predictable Success are an important reminder of what it really takes. McKeown notes that in business we're often "given the tools for success and an expectation of success, but no dependable way of combining the two to consistently achieve success".
In McKeown's view, 'getting the numbers right' doesn't deliver predictable success. It takes more. It takes an ability to make decisions. Goal setting + achievement. Alignment of people + processes. Self-accountability for results + accountability to others. Personal ownership of actions + outcomes.
I agree. Get the right numbers to the right people with the right tools and they'll astonish you with how personally accountable they become for the impacts they're able to have. Success becomes both achievable + predictable when self-accountable people are aligned in their efforts to produce results, and equipped to see + understand the success with which they're doing so.
 Our approach to doing so is seeded by the Return-on-Effort metrics produced by our sales productivity tool. These metrics give users a clear picture of what they’re achieving from what they’re doing. Such metrics are real-time and automatically generated and establish the cause and effect relationships between what sales reps are doing and what they’re achieving. Reps’ achievements are all based on the real-time buyer actions triggered from sales conversations; this makes Return-on-Effort metrics fast, precise, and comparable.
In this case, Amacus’ metrics revealed an on-boarding performance issue then shrank the time it took for a new hire to hit peak performance. In the new hire's first six weeks, their conversion rate from first sales conversation to first sales appointment was lower than the conversion rate of the top-performing rep. As expected. Then, around week four, the new hire's conversion rates began to plummet. Not expected.
A sales meeting was convened. The new hire and the top performer participated. Their comparative results were reviewed. Everyone agreed the numbers were clean, comparison was fair, and the situation was clear. Many questions were asked. Turns out the new hire was hitting objections and wasn't clear on how to handle them. The top-performer gave clear instructions on how to do so. The meeting adjourned.
Within 2 weeks, the new hire reached all time highs in their conversion rate, and their rate began to approximate that of the top-performer. Six weeks in, the new hire was a winner. So was the sales team.
Amacus’ metrics opened a dialogue that enabled improvements, and provoked the behavior changes needed to achieve those improvements. The user saw that what she was doing mattered. She owned the outcomes and saw that she could affect them by her actions. She took action. She reaped the rewards.
When the picture of what’s being ACHIEVED from what’s being DONE in B2B sales is crystal clear, learning is enabled, change is provoked, and success becomes predictable. In today’s markets, it’s a great state.
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Sales 2.0 Insights |
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Sales 2.0 -
Sales 2.0
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Written by Mark Sellers
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I was an invited speaker at the recent Sales 2.0 Conference in San Francisco and want to share some of the insightful, inspiring highlights of the event.
The conference was sponsored by Selling Power magazine publisher Gerhard Gschwandtner (www.sellingpower.com), who once again displayed his unique style and insight in uniting the many stakeholders of Sales 2.0. Co-host David Thompson, founder of Genius.com (www.genius.com) and founder of the first conference, kicked things off.
I’ve chosen four highlights to list below:
1) The customer will continue to dictate how they want sellers to collaborate with them and how they want to buy from sellers.
2) The funnel will continue to play a key role in the business process of selling.
3) Sellers have never had more tools and resources available to sell than they do now!
4) Creating a culture of measurement and analytics is part of Sales 2.0 ‘DNA’.
1) The customer will continue to dictate how they want sellers to collaborate with them and how they want to buy from sellers.
One of my favorite quotes was from Barton Goldenberg, futurist and founder of ISM, Inc. who opened the conference by citing statistics about customer decision making patterns. He said that “customers will dictate how they want to collaborate with you (sellers).” This is especially prevalent and only getting stronger in this age of the internet, mobility, instant business, and ‘constant connection’. It is a powerful statement that suggests many things about selling to customers in a 2.0 arena, but perhaps the most important suggestion is the one that asks us how are you adapting to selling to customers who dictate how they wish to buy from you?
2) The funnel will continue to play a key role in the business process of selling.
From the opening slide by Gerhard, and through nearly all presentations and panel discussions, people identified the funnel as playing a key role in Sales 2.0. We’ve always known the funnel to be an excellent metaphor – in sales 1.0 it was about ‘the sales process’. But this seller-centric approach has become outdated and nearly useless. Funnels that are designed this way serve very little 2.0 purpose. The new standard in funnel design is one that follows the customer’s buying process (http://www.funnelprinciple.com/bcf.html), a design that chronicles the journey a lead takes from discovery to close. When customers control the pace of the buy, sellers have little choice but to focus on the customer’s buying process to maximize their sales effectiveness. The value of having the buying process as the central theme of the way you sell is that you can leverage all of the technologies for lead generation, customer engagement, lead conversion, and all funnel analytics. The other value of using a buying process funnel model is that it provides the best leading indicator of your funnel’s ability to cross the finish line at year’s end with a high-five quota achieving smile on your face. It’s simply a smarter, evolving way to run your business.
3) Sellers have never had more tools and resources available to them than they do now!
I try not to use too many exclamation points but this one is too tempting to pass up. It’s utterly ridiculous the depth and breadth of quality tools available to a seller. From getting access to key decision makers (www.connectandsell.com), to getting on-demand business search and intelligence (www.insideview.com), or to quickly accessing company information (www.jigsaw.com), sellers have little excuse but to be supremely prepared. One attendee, an executive VP of Sales put it well when he said “if you don’t know how your prospect makes money don’t bother to pick up the phone.”
We heard how one large telecom provider put process to its proposal management function using technology from Sant (www.santcorp.com). This was no small feat for this telecom company – streamlining the handling of proposals for literally thousands of salespeople, each one with his or her own proposal approach. The results were a dramatic, bottom line improvement in efficiency and effectiveness.
As you might expect at any sales conference compensation was a hot topic. One of the key Sales 2.0 objectives mentioned was the need to give salespeople real-time status of how any given sale would impact their compensation. This isn’t just some courtesy to the rep; it’s a motivator and incentive and huge credibility and time saver for the head of sales. One of the more popular services mentioned was that from Xactly Corp. (www.xactlycorp.com).
4) Creating a culture of measurement and analytics is part of Sales 2.0 DNA.
Jim Dickie of CSO Insights (www.csoinsights.com) reminded everyone that measuring cause and effects of our marketing and selling efforts is totally 2.0 required. Why is it that still many companies treat sales as way too much art and not nearly enough science?
We heard senior level sales executives describe the tools they use to put powerful analytics at their fingertips. One VP of Sales described how Lucidera’s on demand analytics (www.lucidera.com) help him be certain about his company’s pipeline velocity, information he then converts to action and execution. Better understanding of funnel health through analytics leads to better action plans territory by territory. That’s a path toward achieving quota if I ever saw one.
Another company found themselves rocketing to the 2.0 world when they engaged with Landslide Technologies (www.landslide.com) to automate their sales process. This was already a very successful company selling large compressors to the industrial market, but it had the foresight to change the way it ran its business. Landslide gives them more than simply visibility or organization of funnel and other data; it provides insight to that data that management can proactively act on and coach to.
Closing
It was so refreshing to ‘check’ the doom and gloom of the economy at the Sales 2.0 Conference door and instead be surrounded the entire day by fantastic technology, inspired leaders, collaborative people, and actual users of the technology. Gerhard reminded all of us that our view is a mindset choice. He told the story of monks at a monastery in Big Sur fighting back wild fires that threatened their community. “It is not the fire that we fear”, they said.
I’ll describe the current state as ‘harmoniously disruptive’. On the one hand sellers are facing new challenges at every step of the sale (or buying process). On the other hand sellers have never had so many technologies and resources to sell. It can be confusing and even overwhelming. But somewhere in the chaos is order. Isn’t that what makes all of this fun? No one said it would be easy, it just ‘is’. At the end of the day, Barry Trailer put it well when he said, “it’s still just people buying from people selling.”
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“The Twelve Golden Principles Of Selling – 2.0” |
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Sales 2.0 -
Sales 2.0
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Written by Jonathan Farrington
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Twelve months ago, I re-posted my “Twelve Golden Principles of Selling” – which received a fantastic response, and so I thought it timely to update these in the light of events this year. So, this in effect is the 2.0 version, including the original introduction - looks like it will be begging for an annual update every year, I hope you enjoy it.
I received a call from an ex-student this week who is designing an induction program for new recruits about to embark upon a career in sales. He asked that if I had to create the “12 golden principles of selling,” what I would come up with.
Clearly, this is not only a very subjective view, but also I found it terribly difficult to reduce my initial list of the essential rules of selling to just 12. However, mindful of the fact that this exercise is designed to provide guidance to salespeople just starting on the first rung of the ladder, here is my take on the 12 golden principles of selling.
Principle 1: Always Sell to People
This may seem obvious, but it cannot be emphasized enough: You are not selling to an organization or to a conglomerate, but to actual, real people. It is important to remember that all people are different, so you cannot sell the same way to everyone. Second, no two sales are the same, even if they are made to the same company under similar circumstances.
To become a good salesperson, it isn’t enough to know how to sell. You must aim to become a people expert. It may sound shocking, but the best professional salespeople actually like people!
Remember, people buy from people — they always will.
Principle 2: You Have To Sell Yourself
Just as you are selling to people, you must also remember that you are not only selling and representing a product or service, but you are in effect selling yourself. When beginning a sales relationship, it is important to remember a few key aspects to representing yourself well.
First, be interesting. If potential customers are bored by you, they have less of a chance of being enthralled by any product or service you are representing.
Develop intellect. Of course, you are an intelligent person, but can you converse in an intelligent manner? Can you discuss related subjects with thoughtfulness and hold your clients’ interest?
Never be arrogant — never talk up or down to your potential clients. It’s rude and will serve only to alienate them. Respect the buyer, and they will respect you.
Along the same lines, develop your empathy levels. If you can relate to your customers’ situations authentically, it helps to build rapport. Finally, control your ego levels. A good salesperson is patient and respectful, not an egomaniac.
Principle 3: You Must Ask Questions and You Must Also Listen To Understand
A good salesperson knows what questions to ask, and when. Develop your questioning techniques, always remembering the traditional rules of questioning: What? Where? When? Which? Why? Who? And, how?
Continually test your understanding of the situation by asking questions and verifying that everybody’s on the right track. Also remember that God has given us two ears and one mouth; we should use them in that order! Successful sales professionals talk for 20 percent of the time and listen for 80 percent of the time. It’s crucial for new salespeople to develop their active-listening Skills.
Principle 4: Get Connected & Develop Yourself
Sales 2.0 has arrived and unless you want to be left behind, you must fully embrace all of the opportunities that lay in front of you.
Think Social Media - LinkedIn. Jigsaw, Twitter, Plaxo – sign up and start building your network. Use these facilities to gain an inside edge by learning more about your clients/prospects/suspects.
Become involved with sales communities like Sales HQ, Sales Gravy, Salesopedia, Eyes On Sales and The Customer Collective: Engage with like minded, forward thinking professionals.
Invest $25 for a whole year and join the most innovative; significant and exclusive sales related club on the net – www.topsalesexperts.com – and gain access, personal advice and coaching from sixty of the world’s leading sales gurus (Available from January 13th 2009)
Principle 5: Features Must Be Linked to Benefits
It’s a standard sales component, but the features-and-benefits connection bears repeating and reminding: Features are common, but benefits are personal and specific. When describing the product or service you are selling, use “link phrases” when outlining the benefits of the features you are showing. Say, “Such and such is a feature of this service, which means that . . .’ Remember to be specific.
Principle 6: Sell the Results - Paint a Picture
You want the outcome for your prospect to be rosy, but you need to convey that. Discover your prospect’s “prime desires,” and personalize the benefits to him or her.
Describe the end results of the transaction and how it will improve the life of your prospect.
Principle 7: You Cannot Rely On Logic
Emotion drives 84 percent of all buying decisions, not logic. What are the chief buying emotions? They include ego, security, and pride of ownership, greed, health, prestige, status, ambition, and fear of loss. Be well aware of these emotions as you approach, engage and deal with your customers.
Principle 8: Selective Product Knowledge Is the Key
A good salesperson realizes that buyers buy solutions and results; they do not buy products or services. Know the specific aspects of your product or service that will create your client’s desired result.
Principle 9: Aim To Be Unique
You want to convey to your customers an attitude of “me first,” rather than “me too.”
Every business, every company, every product has something that is unique, and this is what you need to stress. Look outside the square, and identify the uniqueness of your product, your service, your company — and yourself. Learn to craft real value propositions, that pass the “so what” test
Principle 10: Don’t Sell on Price
Selling on price is simply a cop out. You must value your expertise, your products and your services, and price accordingly. Always keep the bottom line firmly in your mind.
Remember, anyone can give business away. Selling merely on price means we do not need sales people! Just because we are selling in tough economic times, doesn’t mean dropping your pants at every request to do so.
Principle 11: Present Your Solutions
When we present our proposals, rather than mailing, faxing or e-mailing, we increase the likelihood of a sale by a factor of 10 if we do so in person. This is your opportunity to impress every member of the DMU (Decision Making Unit) and to do your job, which is to sell you; your solution and your company grab it with both hands. Why rely on someone else to do the selling for you, which is what you do when you simply mail your proposal?
Principle 12: Be Professional at All Times
The greatest compliment a customer can pay you is to describe you as “professional.” Don’t worry about being liked — be respected. Customers do not buy from you because they like you, but rather because they are prepared to trust you
Being professional is not one thing, it is three: It is what you do, what you say, and how you present yourself.
And finally……… Selling is the most wonderfully exhilarating, satisfying and fulfilling career in the world – but only if you are selling successfully.
Someone has to be the best - why not you?
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Flash Forward…10 Years in Sales on the Net |
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Sales 2.0 -
Sales 2.0
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Written by Jim Langeloh
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Have you given thought to how you sold 10 years ago on the web? Where it is now and where it will be in 2019? 20 years of coverage that seems like it is in fast-forward currently offering tremendous value!
10 Years Ago
Working in the late 90’s many changes took place and I was fortunate to be in my late 20’s with a flexible personality. We saw tremendous growth that was being integrated into sales organizations on a regular basis. The Internet was still in its infancy and we used it for simple emails, presentations and information centers. Not available, were the countless social networks, ease of use creating websites and viral video productions. If you were involved in sales, you were probably spending minimal time doing a few reports and correspondences with your customers and company on the web. Those who created sites found much difficulty in creating, writing code and found high costs associated with each.
Your company website was merely an information center that was used to spread information to the masses. Company’s were reluctant to post prices and competitive information and were still struggling to find value on the web.
Sales people were still using simple cellphone technology. Phone/Web browsing as unavailable and chances are, you used a Palm Pilot or similar device to keep your business organized. These were great innovative tools at the time, but had us rely on multiple tools to be organized. Online viewing of schedules was available if you used outlook, but you had to manually plug in devices to sync. Many errors occurred and it always made you concerned over losing data to your devices. I personally used to update these devices 2-3 times a year to keep up with technology and to have the latest and greatest at a very high cost.
Ordering on the Internet was still a scary process. We all were reluctant to give credit card numbers and did not trust placing this information out in someone else’s hands. It wasn’t until sites like Ebay, Amazon and others that online transactions became second nature.
Networking was still building the relationship at the street level. It was still a face to face conversation, phone conversation or exchanging of business cards and information. Some future potential involved, but we still relied on the meet and greet for best results.
All in all, it was a great time to be involved in sales. The economy was cruising and we all knew the Internet was going to be a valuable tool someday but were not sure how.
Today’s Sales Market
Our current sales market on the web is being steered by Social Media, which allows us to network anywhere, anytime and anyplace. Our lives never seemed so instant as we all can get information on people, places and things immediately. We have come to expect it.
Today’s Internet allows us to connect globally or locally with the click of a mouse…or your phone! For our customers, they can find out about you, your company and your competition immediately. This is also making our customers not very loyal when it comes time to purchase, because decisions are being made with the content available online. They can be easy pulled away with some of the negativity the web can bring.
No longer is the web simply used for emails. Now you can have your own personal website up in about 10 minutes. Not too mention the countless ways to be recognized as an expert by providing valuable content is at an all time high with the introduction of Blogs. People that were unknowns yesterday have become web branded people if not stars in the sales community!
With all of these changes and tools you could make your sales career a 24/7 position just trying to keep up on the web. And now, the CRM tools that have been introduced allow for customer involvement as well, from tracking to ordering to buying habits. It really could make you crazy when deciding to Twitter, Facebook and Xing…or to do none of it!
One thing remains true today in sales; relationship selling is still as strong as ever. With our economy down, many of us have refocused on being in contact now and bringing value face to face to our customers. We are learning how to strengthen these relationships with all of the great new tools on the net today!
10 Years From Now….2019
If you look at how drastically the web has changed in 10 short years, try to imagine selling in 2019. In my opinion, given the growth of Social Networking, I would expect to the customer to be in tremendous control. The (VOC) Voice of the Customer will be vital in planning, selling and deciding what to roll out to the masses.
The customer’s ability to gain knowledge will get better and better, at a faster pace. They will have instant access to knowledge on features, benefits, user lists, references and many other categories that can be positive as well as damaging to your company and career.
Relationship Selling and finding ways to build and improve it will be all more the more important. Keeping yourself and your company in good standing will be vital to success.
From an individual’s sales perspective, you will be seen as both local and global because of the web. Expect translations in many languages to become standard and video/online-meeting presentations will grow in popularity.
Finding 1 key “home” or “Hub” for all of these tools will be important and necessary as well to keep from being watered down and spread too thin. Tools such as personal websites may become the central landing zone for customers, friends and colleagues all working through viral tools such as a combination of CRM, Facebook, Xing, LinkedIn all combined with customers feeding off of eachother as well as your company offerings.
Selling will remain a “relationship business” but business will be close to instant, knowledge will be spread fast and growth can be much quicker. The key is being prepared and learn about the new tools to keep the upper hand. Good selling!
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