August 28, 2015 12:00 AM
The sales division of a manufacturer is working 300 sales opportunities, each averaging $12.5 million in value. The win rate is 8% and the average sales cycle is 30 days.
This sounds like details for a good GMAT question, but the stakes here are real.
What’s at stake? A metric called sales velocity – the increasingly critical measure of how much revenue a company is generating, and how fast.
August 24, 2015 12:00 AM
While it can almost be guaranteed that you will not purchase a vacuum cleaner from a traveling salesman at your front door any time soon, in many businesses traveling sales is still a necessary business function, particularly in the B2B space. Pharmaceutical companies send reps to doctors’ offices, software providers schedule demos of their latest offerings, and the list goes on.
August 20, 2015 12:00 AM
In the fall of 2014, Unishippers Global Logistics, LLC, the nation’s first and one of the largest small package and freight resellers, launched a new subsidiary named Launch Logistics and I was named the President and Chief Sales Officer. The subsidiary was created to expand the franchise company’s salesforce and customer service expertise, thereby prompting further growth and hands-on learning that will benefit the entire franchise system. From the outset, I knew that building a high-performing and energetic B2B sales team was critical to the company’s overall success.
August 18, 2015 12:00 AM
Salesforce users can upgrade themselves with the latest marketing initiatives in the digital age. The future of the marketing can be easily connected with the Salesforce.
August 17, 2015 12:00 AM
It wasn’t that long ago that a new sales rep joining Ethicon– a world leader in the manufacturing of surgical devices – would go through a training program that looked something like this: The rep would travel to Cincinnati, spend eight weeks attending classes to learn about the human anatomy, medical procedures and medical terminology, and receive sales training on a portion of the Ethicon product portfolio. After this eight-week period, the sales rep wo
August 14, 2015 12:00 AM
We have all endured presentations where the information being delivered was dry, boring and tedious. We sit there and daydream, disengaging from the speaker and wishing for the show to end – or for the courage to get up and leave before the end. Our original reason for going was to get information that would help us to do our job better or grow our business.
August 13, 2015 12:00 AM
We can easily get lost among the sexy, disruptive and company-changing analytics, automation, customer-driven content exploration and social selling tools that seek to own sales today. As both a heavy tech user and, previously, a software developer, all that innovation does excite me. But as new tech grabs much of the news, we’re letting ourselves become so focused on the digital side that we’ve forgotten it’s only part of the equation.
August 12, 2015 12:00 AM
Today’s sales professionals are expected to negotiate, close and complete deals while traveling as easily as they can when they are in the office. That was the promise that came first with laptops, then smartphones and now the cloud. And while main offices and managers believe that their sales teams can meet this expectation, reality is unfortunately much different.
August 10, 2015 12:00 AM
It’s astounding how much leeway salespeople are given in how they go about making calls and making their numbers each year. In many companies, selling is considered more an art than a science. Sales calls are as unique as snowflakes. I find it ironic, in light of the varied approaches to selling, that measuring performance is so precise. Seller achievement is calculated to decimal places throughout every year by dividing YTD revenue booked by YTD quota. The journey is uncertain but the desired outcome of clients paying invoices is clearly defined.
August 7, 2015 12:00 AM
Predictive analytics has been top-of-mind for marketers over the past several years. Yet, when it comes to innovation, there is often a lack of clarity on how exactly predictive science can fuel success of new product concepts. The key is in the granular approach to the idea in the context of its category, marketplace, and demand factors – breaking it down into components and using analytics to understand the concept’s evolution in the future.
August 3, 2015 12:00 AM
Companies are always on the lookout for their next top sales managers, and grooming new talent for a future in management is a constant preoccupation for sales leaders. After all, great sales managers can do more than just make quota – they can elevate the performance of the people around them and boost sales results from the entire team. However, many times, companies discover that it’s not always easy to tell which salespeople are going to be great sales managers. It’s not always as simple as taking your top-producing salespeople and tapping them to be sales managers.
July 31, 2015 12:00 AM
If you are a millennial searching for potential career opportunities, or a more seasoned professional seeking a mid-career change, you may want to consider a career in sales. Not because it’s easy ‒ it’s not. Building a successful sales career is challenging, but it can also be interesting and satisfying. And, if you are ambitious and highly motivated, the financial rewards can be unlimited. Best of all, in sales there are virtually no barriers to entry.
July 30, 2015 12:00 AM
In this era of Big Data, we’re inundated with messages to use data to drive personalized and predictive experiences for customers. But for many, the gap between this data-driven vision and reality is large and growing; according to Forrester Research, most organizations are using a mere 12 percent of their data to make marketing decisions.
July 27, 2015 12:00 AM
In a joint study on decision making, research psychologists Irving Janis and Leon Mann describe a wartime phenomenon called the “old sergeant syndrome” — when infantry on the frontlines, having witnessed the deaths of many comrades, are known to actually delay making decisions that might protect them from a similar fate. Though anecdotal, the old sergeant syndrome illustrates just how powerful the human preference for staying the course can be.
July 24, 2015 12:00 AM
Content is no longer exclusive to the marketer’s toolkit. There is a common need for good content to support both marketing and sales goals; content that spurs engagement, drives conversion and meets the needs of your customers.
Video is a powerful tool that can work across departments and across the sales cycle. For marketers, video is often a key component of the marketing mix. Its purpose is focused on positioning the brand, promoting products and services and generating leads for the sales team.
July 22, 2015 12:00 AM
It’s no secret that modern marketing campaigns rarely launch without being accompanied by a major online advertising push. The positions of digital marketer and social media manager have become standard at just about every large American company.
The question is: why?
July 20, 2015 12:00 AM
Today there is a phenomenon known as the “Google” effect. That is – technology advances are producing a society where people expect all their technology interactions to be as accurate, fast and reliable as Google. At the same time, consumers are more empowered than ever before, with the ability to research product reviews in milliseconds and competitors just a click away.
July 17, 2015 12:00 AM
While even the word “negotiation” can evoke fear, stress and anxiety for many, the intent is quite simple: to discuss and ultimately agree on a deal. Whether it’s a multimillion dollar contract or just deciding where to meet for lunch, life is rife with negotiations. The negotiation process is a lot like a chess game where strategy reigns supreme – one thoughtfully considered move at a time. Make a careless, short-sighted, ill-conceived move and suffer the perilous consequences.
July 13, 2015 12:00 AM
Highly effective field sales management is the single most important driver of overall sales force performance. We see it time and again: when a company with an average sales team brings on a great manager, that manager elevates the performance of the entire team. In military terms, an excellent sales manager is a “force multiplier” as he or she enhances the effectiveness of each individual rep, leading to significantly higher rates of incremental growth.
July 8, 2015 06:05 AM
For many B2B organizations, summer is an important mid-year turning point – a time to assess sales success, look toward meeting end-of-year goals, and/or plan for your new year. As social selling takes on greater importance in the sales process, organizations – including marketers, trainers and sales enablement professionals – can use the summer months to help sales teams get savvy about social selling, and lay the groundwork for strong sales, whether you’re wrapping up the year or gearing up for the new year.
July 6, 2015 10:13 AM
Sales and marketing professionals know that the bar for effective sales and marketing engagement has never been higher. We’ve responded with audience-focused campaigns, salesforce and marketing automation, and content targeted to each buyer who influences a sale. Many companies have invested in buyer personas, data mining apps and social media listening posts.
And yet it’s hard to find buyers who say that we’ve made their decisions any easier.
July 1, 2015 12:00 AM
In the ongoing battle for market share, brands pour over metrics and tweak strategies to increase customer loyalty. The stakes are high, customer acquisition costs are expensive and most businesses can’t afford to lose sales to competitors. With prices commoditized in many industries, today’s battleground is centered squarely on customer experiences.