November 17, 2014 06:17 AM
With the fourth quarter’s arrival, many companies have looked at their numbers and increased the pressure on sales teams to make up for losses earlier in the year. Only 58.2% of sales reps made their quota in 2013 according to a 2014 Sales Performance Optimization Study of over 1,200 B2B companies by CSO Insights. While every company has unique circumstances affecting its sales cycle, there are common threads that can be identified across the majority of organizations in terms of errors that directly correlate to sales losses.
November 15, 2014 01:00 AM
I interviewed a half-dozen or more people for this issue’s cover story on trends in sales incentive programs and workplace motivation. I mentioned to each of them at some point during the discussion that I have been writing on this topic for longer than I care to admit.
November 12, 2014 01:00 AM
Putting the right team on the field is crucial, especially in sales, where differences in individual performance are greater than in other functions. Studies in B2B contexts find that rep performance in similar territories often varies by 300 percent, while in retail stores selling productivity typically varies by a factor of three to four. In other words, there are salesstars in many firms.
November 11, 2014 01:00 AM
Hitting a trifecta in email marketing — right message, right person, right time — is tricky. Janelle Johnson, director of demand generation at marketing automation provider Act-On Software, shares insights on the timing.
November 10, 2014 01:00 AM
While companies complain that 80 to 90 percent of their salespeople can’t sell value, they are spraying their salesforce with product presentations and praying that their salespeople will be able to figure out why customers should buy their product. But instead of complaining, companies should feel blessed that they can increase sales by capturing and sharing this valuable tribal knowledge with the rest of their sales force.
November 10, 2014 01:00 AM
The statistics induce nightmares:
· Gallup’s 2013 report on the State of the Global Workplace states that only 13 percent of workers in America are engaged at work.
November 7, 2014 01:00 AM
Sales are the lifeblood of any successful business. The warriors who pound the pavement or the phone lines day after day are always looking for ways to stay ahead of their competitors and tell their stories in the most compelling way, which is why they are often early adopters of technology. If you were in sales “back in the day,” like I was, you might recall schlepping all sorts of gadgets from luggable computers to huge projectors to meetings.
November 5, 2014 01:00 AM
If you believe the hype around studies that say customers feel they are through 60 percent (or more) of the buying cycle before engaging a salesperson, you could be giving your salespeople the wrong content for the wrong conversation. That’s because salespeople still see themselves as relevant to the early-stage discussions.
November 3, 2014 07:03 AM
What are some quick and easy-to-implement ways to improve sales for you or your organization? Here are three ways to improve the sales process:
Prepare, prepare, prepare!
While it isn’t sexy, the importance of preparation can’t be overstated. It remains true that those who are best prepared produce the best results. Even Abraham Lincoln once said, “Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.”
October 31, 2014 12:00 AM
UnSelling is what happens when you understand the humanity of your market, produce a quality product and create experiences that lead to trusted referrals. UnSelling means stepping back from the funnel and focusing on everything else but the sale.
October 30, 2014 03:26 PM
Eleanor Roosevelt wrote, “You must do the thing you think you cannot do.” While she was encouraging personal boldness, the message is also applicable to corporate life. Courage pays off.
October 30, 2014 04:10 PM
When Time Warner Cable decided to turn its local cable payment centers into full-blown retail stores, more than the stores needed renovating. The company put its customer service employees through a sales training program, provided ongoing coaching and transitioned them from hourly wage workers to salaried with a commission.
October 30, 2014 03:19 PM
If the health of an industry’s trade shows are a reflection of the strength of the industry itself — and that only makes sense — then incentive travel and offsite meetings are in an enviable position. The fourth edition of IMEX America’s, the largest trade show in the U.S. for incentive travel, meetings and events, was its biggest ever, with growth in all key areas.
October 30, 2014 03:21 PM
Guests attending meetings — and those running them — want to have control over technology in a hotel’s meeting space. This do-it-yourself trend has encouraged some hoteliers to reevaluate the design, layout and technology each property offers, according to a report by Hotel News Now (hotelnewsnow.com).
October 30, 2014 03:24 PM
October 30, 2014 04:09 PM
Highlighting our irrational selves is part of what behavioral economists do. Their studies show human beings are inconsistent in the way we deal with money. We’ll drive across town to save $20 on a $50 slow cooker, but wouldn’t budge from the couch to save $20 on a $5,000 television. (It’s still $20 isn’t it?)
This irrationality is predictable and, fortunately, can be used to positively influence our motivations, decision making and behaviors.
October 30, 2014 04:20 PM
October 30, 2014 03:31 PM
Procrastinators rejoice! There’s still time to take care of your top performers and key clients without revealing your lack of planning. These corporate gift suppliers are ready to rock your recipients’ holidays.
Chic phone charger
October 30, 2014 10:49 AM
The single biggest problem contributing to lack of new business development is the hybrid hunter/farmer sales role, says Mike Weinberg (NewSalesCoach.com). “This issue is big and hairy, and there isn’t a simple fix or canned solution,” he says.
October 30, 2014 10:47 AM
Webinars are powerful tools for B2B marketers to connect and engage with potential and existing customers. But many B2B marketers struggle with webinars because they don’t know all the necessary steps to increase their webinar program success. RingLead (RingLead.com), providers of data quality tools for automated marketing, and Heinz Marketing (HeinzMarketing.com), offer these four tips for effective B2B webinars:
October 30, 2014 10:46 AM
In sports, scrimmages are a respite from squat thrusts, windmills or other mundane (but necessary) practice activities. Scrimmaging is as close to a real game as you can get without the hoopla. Dianna Booher, CEO of Booher Research Institute (BooherResearch.com), encourages managers to “scrimmage” at work.
October 30, 2014 11:00 AM
In this era of relentless commoditization, some sales organizations approach “value co-creation” and “collaborative partnerships” with customers as lofty goals, likely unattainable and therefore unthinkable.
October 30, 2014 04:08 PM
Are you wrestling with a logjam of middle performers who don’t seem to respond to your incentive programs? It may be time to get to know yourself better.
October 30, 2014 04:18 PM
Omaha Steaks are the perfect gift for loyal customers and hard-working employees. The corporate gift guide offers a variety of exclusive packages from famous steaks, seafood, poultry and desserts. You will find gourmet options for everyone on your list! For more details, contact Omaha Steaks B2B at 800-228-2480 or email B2B@OmahaSteaks.com, or visit OmahaSteaksB2B.com/SMMHoliday.
October 30, 2014 10:43 AM
Victor Lipman, who writes on management for Forbes.com and Psychology Today, recently asked readers to share their thoughts on why employee recognition is such a pain point at many companies. “Not surprisingly, they responded abundantly and thoughtfully, bringing up numerous points I hadn’t considered,” he said. Here is a sampling: