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Author: Tim Houlihan In my conversation with Jana Gallus from UCLA’s Anderson School of Management, we examined the ways that precision impacts the effectiveness of rewards. Her research points to important aspects of how rewards, the signals they send and their efficacy are affected by precision. In short, more precision is better for rewards used with incentives, while less precision is better for rewards used with recognition.
A successful career in sales is not for the faint of heart. According to a Bridge Group study , the annual turnover rate for sales professionals is 34.7%. When you consider that the average onboarding and ramp-up time for a sales professional is nine months or more, that turnover rate starts to have serious consequences for individual sales teams and the revenue they’re responsible for.
The biggest challenge facing most sales people and small business owners is getting meetings with prospective clients. Cold prospecting techniques get harder-and-harder every day. Even cold techniques turbocharged with boatloads of technology get harder-and-harder every day as everyone gets the technology and the arms race for a better sales stack escalates.
Anyone that has ever led a sales organization of any size has probably experienced the feeling of realizing you are not going to make your number. As a sales leader, this is your primary objective; it is what drives any.
Today’s buyers expect more than generic outreach–they want relevant, personalized interactions that address their specific needs. For sales teams managing hundreds or thousands of prospects, however, delivering this level of personalization without automation is nearly impossible. The key is integrating AI in a way that enhances customer engagement rather than making it feel robotic.
By Tibor Shanto. To Check-in, or not to, that is the question: Whether ’tis nobler in the mind to suffer. The silence of unmanaged fortunes and opportunities, Or to take arms against a sea of pundits. And by opposing end them – Check-in and know, know more; and by making the call uncover the unknown! A great frustration for salespeople is when an engaged buyer turns aloof, going radio silence – transponders off.
One of the hardest things to do in sales is “create urgency” when it’s seemingly not there. Sales reps try to manufacture urgency all the time by proactively offering discounts at the end of the month, but that’s just sad. But how do you actually “create” urgency? Let me be clear – you can’t. As the CEO of my own company, I sat down with my team towards the end of last year and mapped out our plans for the coming year.
One of the hardest things to do in sales is “create urgency” when it’s seemingly not there. Sales reps try to manufacture urgency all the time by proactively offering discounts at the end of the month, but that’s just sad. But how do you actually “create” urgency? Let me be clear – you can’t. As the CEO of my own company, I sat down with my team towards the end of last year and mapped out our plans for the coming year.
Who would you rather talk to? A new person who you haven’t met before, or a close friend? Who do you trust more? A salesperson you’ve never seen trying to sell you something you’ve never bought, or someone you’ve known for some time and with whom you have great rapport. Who would you rather sell to? Someone who has never heard of you, or an existing customer who knows you, your products and your reputation?
Author: Toby Murdock Seeking peer recommendations before making a purchase or signing an agreement is nothing new – it’s been part of commerce since the beginning. From farmers asking their neighbors for advice on the best cattle feed suppliers to celebrities promoting toothpaste in television commercials, another customer’s experience is a powerful endorsement.
The words we use affect the way we think. Positive, uplifting words can induce a positive, uplifting mood and an optimistic approach to tasks. Negative, depressing words can have the opposite effect.
In last week’s CONNECT2Sell blog post, we got an overview of why communication skills are so crucial to sales success. In fact, out of all the soft skills required for selling, communication skills may be the most important of all. The surprising takeaway is that there are a minimum of 20 specific skills under that broad umbrella of communication.
Are you struggling with slow quoting cycles, complex product configurations, and disconnected data in your manufacturing/distribution business? This article will help. Learn how industrial companies are revolutionizing sales processes with an integrated platform that includes quoting, inventory, and service, providing real-time data and offline access for field teams.
By Tibor Shanto. Last week I saw a piece on LinkedIn, that questioned the accuracy of predictions about the future of B2B sales and selling made in the past decade. The piece pointed to a prediction by Forrester around 2015 about the size and nature of B2B sales in 2020. It like others prophesied that the size of the B2B sales population in North America would shrink by 25%.
You don’t have to work 60-hour weeks to be successful. My niece quit her job because she couldn’t handle the 60-hour workweeks while raising a family. She was stressed, had a short fuse, and didn’t smile much. I was getting increasingly worried about her health and was relieved when she quit. Sure, it was scary for her family for a while. One income was suddenly gone.
Many CEOs often ask us while planning for 2020, “what’s the secret marketing sauce? What’s worked for your other clients when it comes to the marketing mix? What isn’t working?” And as most CMOs can agree, there’s no such thing.
I shared a link on Facebook of a casual family get together where the entire family sung one of my all-time favourites “One More Day” from the epic Les Mis. Twice I watched it and twice I felt goosebumps. Why? It couldn’t just be the fact that this family has AMAZING musical genes when it comes to harmony! Could it be because music finds something within us?
Modern go-to-market teams know it takes more than one email to break through the noise. Multiple touchpoints means more ways to get your pitch right — and, potentially, more ways to be wrong. The good news? Once you know how to write compelling, one-off emails to entice prospective customers, you can easily do the same across a short sequence of emails.
Developing Master Sales Coaches. Do you have a team of master sales coaches? Are your sales managers ready to crush it in 2020 or will it be another frustrating, mediocre 12-months? Most sales managers lack the skills, tools and methodology to effectively coach their team so the reps just try to ‘wing it’ as best they can. Unfortunately, as you know, this won’t maximize your sales nor improve the competencies of your sales team.
Do you partake of dessert prior to eating your appetizer? Do you eat your dinner in the morning and have breakfast at night? Would you prefer to have the builder complete the finish work on your new house prior to framing it and installing the roof? Would you back your car out of the garage before opening the garage door? (I've actually done that by accident - twice!).
By Tibor Shanto. No joke, I think people in sales and the industries around it, need to lighten up a bit. I know sales is a high-stake endeavour, but it gets that much more difficult if you forget to laugh. It’s one thing to take the activity seriously, it’s another to take oneself too seriously. The same people who will tell you people buy from people are quick to forget one of the most human of attributes, humor.
Put people before technology in your prospecting. Digital isn’t a sales strategy, hope is not a strategy, referrals are not a strategy, marketing is not a strategy. Sales strategy isn’t yours or mine. It’s your company’s strategy for attracting customers. Not much has changed over the years. An executive reads the latest book and declares the precepts in the book are the company’s new strategy.
October Prime Day is usually an early sign of how consumer spending trends ahead of the holidays. This one was no exception. Our October Prime Day Report breaks down what’s working: the products flying off the shelves, the categories winning big, big brands, and the search terms defining demand. All brought to you via Similarweb’s Shopper Intelligence platform.
You had a great sales interaction: Both you and the prospect were calm and comfortable. You developed some rapport and the prospect showed some positive buying signals during the meeting. However, when you presented your proposal it seems as though everything became silent, time began to slow down and tension filled the air as you anxiously waited for the prospect’s decision.
Author: Carmen Simon People act on what they remember, not what they forget. The latest scientific research places memory at the heart of decision-making. Studies show that in the process of making a decision, your brain predicts the rewards of a choice based on past memories, and then uses that information to make the most favorable decision. Simply put: Your brain is a prediction engine.
Historically, discussions about “the customer experience” have been code for “let’s talk about some quick wins to improve our renewal rates before the end of the next quarter.” But more recently, CX has joined product, marketing, and sales as another.
I regularly receive friend requests on Facebook. Most of them I ignore. (And many I report for being spam.) But if the person sending the request has a lot of friends in common with me—say a hundred or so—I’ll usually accept the request, because that person is typically also a professional speaker or trainer. (Many [.].
What if you could help your sellers stop wasting 72% of their day on non-selling activities and focus on bringing in revenue? Incorporating AI in your enablement workflows can help you cut down on busy work, get projects done faster, and let your team (and you!) focus on making a bigger impact. We put together this guide to show you how to use AI to cut time and costs for projects, including collateral creation, development of training videos, and automating tedious processes.
By Tibor Shanto. I see many salespeople march through the first quarter, heads down working their plan. As we all know, Q1 is pivotal; as it goes, usually, the others will follow. Precisely why I think we should be much more hands-on with our pipeline in Q1. It is not too early to consider spring cleaning. We should flush our pipelines a lot earlier in the year than most will want to.
Is there a marketing discipline with more variables than content marketing? For one, content marketers have so many different formats and types of content to play around with. The benefits of producing marketing content are proven — but unlike other marketing initiatives, content is difficult to connect to your typical revenue metrics. Simply put, marketers […].
Listening well improves business results, including sales. Consider these findings: A study of 267 leading U.S. businesses found that upgrading team members’ communication effectiveness is associated with a 30% improvement in the organization’s market value. Fortune 500s lose an estimated $15,000 per employee per year due to miscommunication. This adds up to over $50 million in annual losses.
Author: Umberto Milletti All trends point to 2020 being more focused on the B2B customer, with data and insights as the key to understanding their needs. Marketing and sales have switched to account-based everything, which crystallizes focus on the customer. Customers have more power and more information than ever?—?they know what they want. B2B companies need to switch from a mentality of “here’s what we’re selling” to “we understand what you need.
This guide is for leaders who recognize the importance of Salesforce but would rather trust a team of external experts to do the heavy lifting. Choosing the right managed services provider is a significant decision that impacts your business's efficiency and success. In this 10-minute read, you'll find 5 essential questions to ask any potential provider.
Now that you’ve defined and kicked off your strategy for the year, it’s time to take a look at your team’s operational efficiency. Where are you getting bogged down? What are the biggest pain points in your processes? Through our.
Study after study has found that the #1 buying factor is confidence. More than anything else, people choose the brand, the product, and the salesperson they have the most confidence in. Which is why it’s so critical for you to be confident when interacting with prospects: Because confidence is contagious. The more confident you are, [.].
Sales Scrum: Guest Warren Shapiro. In this episode, I have the pleasure to interview Warren Shapiro , a seasoned recruiter who helps both employers and employees break through the barriers to success. In the conversation, Shapiro highlights how advancements in technology and changing attitudes and client expectations, can help employers hire people more likely to succeed and stay longer.
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