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Author: Andres Lares According to a US News and World Report study, the probability of attracting a new customer to your business falls between 5% to 20%, while the likelihood of retaining an existing client is over three times that – 60% to 70%. So, where should you focus? The correct answer is striking the right balance between both. But, based on the statistics, solidifying and retaining a strong client base should remain your primary focus, while attracting and winning new business should b
By Tibor Shanto. I have often said that the schoolyard taunt “ sticks and stones can break my bones, but words can never hurt me ,” doesn’t hold up in sales. Words can kill you, your pipeline, and career. We don’t want that, so to help, here are four four-letter words to banish from your sales vocabulary. This will take work, like quitting smoking (how many times have you done that?
It’s well known that sales coaching can improve revenue growth — by a whopping 16.7%. . Imagine what could happen if you baked coaching into your day-to-day, creating a coaching culture that steadily improves performance and profits. . You can, and you should… Because in addition to driving revenue, a strong coaching culture can improve win rates, elevate team performance, reduce employee churn, and accelerate ramp. .
Between developing a scalable sales process, collecting data, and helping your team sell, it can be hard to properly track your sales team's performance. However, bad data and reporting could result in fewer sales, a decrease in customer satisfaction, and poor decisions. In fact, your sales team could be wasting time chasing poor leads due to bad data.
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.
Author: Mihai Popoaca, Chief Operating Officer, WorldatWork The massive shifts in today’s economy are changing what drives salespeople to be engaged and productive. Incentives and bonuses are just the starting point. To retain top salespeople, we need to change the conversation around rewards and work. . The current model is fraught with competing priorities -- increase revenue and optimize costs, while at the same time hiring, engaging, measuring and retaining a sales force that is motivated b
After spending months trying to meet with a perfect prospect, the last thing you want to do is blow the opportunity. Yet all too often, that's exactly what happens—especially when you only have a short time together.
After spending months trying to meet with a perfect prospect, the last thing you want to do is blow the opportunity. Yet all too often, that's exactly what happens—especially when you only have a short time together.
Today’s consumers are distracted with numerous options and bombarded with loads of information. As a result, they often struggle to find the products or services that best meet their needs. In a rapidly changing industry, tools, and tactics that enabled sales and closed deals just a few years ago don’t stand a fighting chance today. Innovation and agility are keys to staying ahead of altering consumer demands.
If you’re like most sellers, you envision finding the perfect way to position your products/services. You want ONE perfect phrase that’s so attractive to prospects that they immediately respond to your voicemail or email—literally begging you to meet with them as soon as humanly possible.
Why do so many of my salespeople fail to perform as expected? It's a loaded question. Or, is it? In our corporate sales training experience, we've seen that evaluating underperforming salespeople in the pre-hire sales assessment is crucial for success in your business.
As Summer wraps up and a successful third quarter draws towards a close, it’s time for sales leaders to start looking towards 2020 and beyond as part of the annual planning process. Amongst the plethora of reports and discussions to.
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.
In my last post I went through the math on traditional cold calling. There’s an alternative way to get meetings with prospective clients, but sales people don’t generally use it. Oddly enough they often do use it when they need a job and in this case they call it “networking”. I had to come up with a cool name for using networking in sales so I call it “social calling”.
OK, I won’t make you read to the end here so comes an early spoiler alert! For Salespeople, that behaviour is Responsibility , and to complete the equation, for the Sales Manager it is Accountability. Both in equal doses! What if I was to tell you the difference between the top 1% of over a million salespeople evaluated and the bottom 1%, 94% of the top 1% of salespeople choose to take responsibility for their results, yet only 20% of the bottom 1% choose to take responsibility for their results
The Pipeline Guest Post – Scott Miller. Like most in our profession, I am a big fan of account-based sales and marketing. According to the ITSMA, 87% of respondents agreed Account-Based methodologies deliver a higher ROI than other marketing activities. Account-based isn’t new – but it is en vogue. Quite simply, it is a methodology that focuses on an organization’s sales and marketing efforts on a select number of accounts that are most likely to buy your products and solutions.
Artificial intelligence may seem like a new edition to the business world– but it’s already transformed the way we sell B2B products and services. Early adopters of AI have achieved significant benefits – including increased efficiency, cost reduction, improved customer experience, revenue growth, and more. But, many businesses still question the effectiveness and practicality of AI.
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.
Author: Rafael Lourenco When you work for a B2B company, it’s easy to assume that your customers and colleagues make their decisions based only on ROI and other data. However, the higher you move in the hierarchy of an organization, or the closer you get to sales activities, the more your day-to-day life becomes about interacting with people – colleagues, bosses, investors, board members, employees and customers.
You see it all the time. An executive leader is scared to make bold decisions required to grow the firm. We call it “Incrementalism.” They quickly review minor successes of the past year and re-up. The meagerly reallocate funds towards.
Getting in the door is the #1 problem for most small companies I know. When I first got involved in sales I was a sales engineer. I supported a technology sales force on their sales calls with semiconductor engineers. I always thought I was pretty amazing. When I got to these meetings I had many engaging conversations with these buyers that our sales team did not seem able to handle.
It starts with a feeling. Not a thought. One day something feels NQR. Not aligned to what’s important to you. How do you know when to quit? How do you know when to go again? It’s so easy. Move your hand from your forehead, Put your hand on your gut. Then your hand on your heart. Your body will tell you…. Quit or go again. Don’t overthink things.
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.
By Tibor Shanto. I want to personally invite you to a special and exciting event. A week from today, October 16, and stretching into October 17, I have the honor of hosting this special virtual event. I have the pleasure of working with 12 sales experts with unique, diverse and insightful views on prospecting. Wednesday, October 16, 2019. Lisa Leitch 10:10 AM.
Cold email is one of the most common and tested tactics in a modern salesperson’s repertoire. And yet, sales reps still look for ways to improve their sales email strategy. It’s not hard to see why — after all, only 24% of sales emails are opened ( source ). Fine-tuning your cold email strategy might not make your open rates skyrocket to 90%, but it can make a major difference.
If you’re in data overload, you may not need to be. You’ve heard the phrase: “How do you eat an elephant? One bite at a time.” I know it’s a disgusting mental image, but there’s wisdom in this metaphor. How often do you take on large projects and get mired down in the details—rather than breaking the project into small, digestible, actionable chunks?
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.
This morning, during a call with a business owner, he shared with me about their latest product upgrade. As he talked, I could hear passion in his voice about how his product could help others. Without hesitation, he stated why his solution was better than his competitor’s offering. In this compelling conversation, he convinced me to believe. There is a major parallel between prospecting and leading.
It starts with a feeling. Not a thought. One day something feels NQR. Not aligned to what’s important to you. How do you know when to quit? How do you know when to go again? It’s so easy. Move your hand from your forehead, Put your hand on your gut. Then your hand on your heart. Your body will tell you…. Quit or go again. Don’t overthink things.
By Tibor Shanto. We all know the expression “the calm before the storm”, but most of us in sales experience the reverse. Selling can feel like the storm before the calm, with the calm is always “just around the corner”. This is always the case in a fast-changing environment, which adds to the storm like conditions. As technology continues to accelerate the pace of advances, other elements of prospecting are not keeping up.
You bought a really nice, new, laptop computer and you thought to yourself, "Now I'm all set!" But are you? You needed a case to carry it around, a thumb drive for quickly moving files from your laptop to another, and a printer and if you have a Mac notebook, a port that will serve as adapters to your various cables. These are your accessories.
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.
Here’s what you might have missed from No More Cold Calling. Q4 has now begun, which means it’s time to build your sales pipeline for Q1. I know what you’re thinking: “Hold on, Joanne, that’s not how it works.”. Yep, it’s counterintuitive, but Q4 is 25 percent about closing business for this year and 75 percent about building business for next year.
Earlier this year, SBI consultant Kirk Snider wrote, “the only way to provide a good experience is to listen to what your customer is saying.” In his article, he shares why implementing different, and numerous types of listening paths are.
When I started selling technology I was told to get to the office at 8AM so I could cold call CIOs and catch them before their assistants came in. When I did succeed in catching a CIO on the phone (one in say 50 dials) they nearly all dismissed me as a time waster. In fact, looking back on my efforts, I agree with them. I was a time waster. I didn’t have any knowledge of their organization and issues.
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