Posts Tagged ‘Sales Process’

Creating High Performance Sales People

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October 4, 2011 · by Ray · High Performance Sales Team

What makes a high performance sales team? What makes a high performance sales person? Can we analyse best practice and use it to improve ordinary sales people? Are relationships important? How important is Value?

To create a high performance sales team it is useful to analyse high performance sales people to understand what makes them successful. Such best practice can then be applied to a scalable sales model that will turn ordinary performers into stars.

Based on research by Sales Performance International and recently Dixon & Adamson in the Harvard Business Review the following was found:

High Performance Salespeople Get the Basics Right

  • They work hard & work smart. They put in the hours, prepare well, use tools and training to ensure their efficiency and effectiveness
  • They react and solve customer problems . They understand the value of a  happy customer as  future references and as a source of future business. They have the ability to manage the organisation to deliver the resources to solve the customer problems.
  • They build solid relationships. They are honest and deliver on promises and build trust with their customers.

High Performance Salespeople Deliver Value

  • Open with Value and Close With Value. Successful salespeople use their deep understanding of their customers’ business to challenge current thinking and to create new solutions to old problems. They have a very clear view of how they can deliver value to the the customer and use this to open and take control of  sales conversations. They understand the different concerns of the key players in the buying team.  They know that such concerns change throughout the sales cycle and they work had to ensure that such concerns are adequately addressed. Successful salespeople use value as the cornerstone in all  phases of the sales cycle  and especially during negotiation and close. They understand that it is important to present value in language and models that the customer is comfortable with.

Best Practice Used to Raise Performance of all Salespeople

The most successful high performance sales teams use best practice. They learn from high performing salespeople and use this best practice to create a sales model that is used to turn ordinary sales people into stars.

  • Hire Salespeople with High Potential. Sales people with the basics of a good work ethic, good basic relationhip building skills and a desire to win.
  • Use Leadership. Building a high performance team in any discipline requires leadership to ensure that the team is focussed and inspired to deliver.
  • Use a Scalable Sales Model. This will take all the best practice of the high performance sales people and use it in training and coaching and tools to turn salespeople with high potential into stars. This will include a Sales Process, a Sales Management System, Sales Automation and Marketing Integration. All will combine to improve sales efficiency and effectiveness.

Lead Generation Terminology

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May 25, 2011 · by Ray · Lead Generation

Target Market

The Target Market or Target Market segment is a list of companies  (B2B) or consumers (B2C) that possess the required buyer profile that make them pre-disposed to buy the product.

Territory

A territory is  a part of the target market which has been allocated to a  sales person or sales team.

A Lead

A lead is a  potential opportunity sometimes known as a prospect – For example, a person met at a conference who expressed interest, or someone who filled out a form on the company website.

Lead Conversion (Or Qualification)

If the lead is qualified and the salesperson and decides to pursue it, the lead is “converted,” and becomes an opportunity. ( Note that the term conversion is used somewhat loosely and in many cases in Digital Marketing does not end up with an opportunity but with a (more qualified) lead that still requires further qualification before it becomes an opportunity.

An Opportunity

Opportunities are the sales and pending deals that are tracked in that Sales Pipeline or Funnel. The pipeline is built by adding more opportunities will contribute to the forecast.

Opportunity Qualification

Opportunity Qualification means that the prospect has provided information and performed certain actions that show that they are  at a minimum in the market for the product, have the budget to buy and are willing to do  so within a reasonable timeframe.

Qualification is tailored to the specific sales process which is itself  aligned to the specific buying process in place.

In a simple B2C eCommerce transaction the qualification is a very simple process.

In B2B solution selling the qualification is a process that may be spread over weeks or months that forms a large part of the sales process due to the relative complexity of the buying process.

For instance in B2B solution selling:

  • A Lead may be qualified initially by an internal telemarketing team who may deem it good enough to pass on to the field sales team.
  • The Field sales team would initially qualify the company known as a suspect to avoid confusion with the term prospect. At this stage it would enter the funnel as a qualified suspect.
  • Further levels of Qualification would then take place with the other members of the buying team such as the Sponsor (Person Driving the Project) and the Power Sponsor (Normally at Executive or C Level).

An Account

An account is the company or consumer that makes the purchase. An account may deal with several opportunities.

Creating a High Performance Sales Team: – Sales Model

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May 9, 2011 · by Ray · High Performance Sales Team, Sales Model
Sales Model

Use Sales Model with Leadership to create high performance culture

A High Performance Sales team is created by combining good hiring of sales people with Leadership with a scalable sales model.

The sales model will improve efficiency and effectiveness by implementing:-

  • A Sales Process (Increases efficiency and effectiveness)
  • A Sales Management System (Increases effectiveness with some efficiency)
  • A Sales Automation System (Increases efficiency with some effectiveness)
  • Integrate Marketing (Increases efficiency and effectiveness)

High performing sales people (stars) have a unique combination of skills and knowledge. They excel at building customer relationships, developing successful strategies, managing internal resources and beating their targets every year. A sales model will take the best of these skills and experience and turn an average sales person into stars.

Read more at Sales Model.