September 12, 2014 12:00 AM
A bad hire is not only bad for business, it can also be very costly. International talent management experts estimate the average cost of a poor hiring decision to be equal to 30 percent or more of that hire’s first year’s probable earnings – that could result in costs upward of $50,000 for replacing a senior executive. Factor in productivity loss and lost opportunities, morale implications, turnover and recruiting costs and the price tag starts to skyrocket.
September 12, 2014 11:09 AM
High-tech workers love their incentive stock options, but Microsoft’s Michele Samoulides says that incentive travel programs are some of the software giant’s most effective motivators.
September 10, 2014 06:04 AM
When it comes to marketing initiatives, getting the biggest “bang for the buck” is essential. Accordingly, defining and analyzing the success of everything from tradeshow participation to social media campaigns are critical. At the same time some marketers wonder at what point did return on investment (ROI) become the holy grail of measuring success? Other business expenditures such as rent, additional administrative support staff, office supplies and workplace facelifts have no impact on productivity or revenue, yet they don’t face the same scrutiny.
September 8, 2014 06:01 AM
The sales world can be a lot like dieting and working out. Sales, like dieting and working out, takes dedication, commitment, discipline and knowing when you are off track. If you have tried every diet and none has worked, it’s not the diet – it’s the dieter. Similarly, I tell my clients if you have tried every sales strategy and none has worked, it’s not the strategy, it is the person implementing the strategy. It’s time for a new approach, one that you can stay committed to and that will produce results.
September 5, 2014 02:03 PM
John Morgan, who has been called the Chuck Norris of branding, is confident there is a group of people who are keeping you from success. It’s not your competition, it’s not your spouse and it’s not your parents. Your biggest obstacle to achieving is more familiar to you than any of those people.
“You hold yourself back in all areas of your life and business,” Morgan says. “You do this in multiple ways, which is why it’s like there’s a small army against you.”
September 5, 2014 02:54 PM
When they first entered the workplace in 2007, Millennials were quickly labeled as pampered and lacking work ethic. Although that opinion has been repeatedly blasted as an unfair generalization, it’s still mentioned when talking about companies’ pain points.
September 5, 2014 02:49 PM
Great leaders know that their words have a powerful effect on their employees. Peter Economy, author of more than 65 books on effective management, shared 17 phrases that help leaders connect with their employees at Inc.com. Here are six of them. You’ll find a link to the full post in our Additional Web Resources box at SalesandMarketing.com.
September 5, 2014 02:19 PM
The seven deadly sins are envy, pride, lust, gluttony, wrath, greed and sloth. The deadly sins of business-to-business marketing, as espoused by Christopher Ryan, president of Fusion Marketing Partners (fusionmarketingpartners.com), are not as disastrous as those, but they do deserve some serious consideration for the good of your business.
September 5, 2014 02:52 PM
Leaders must act with deep confidence in their abilities while also remaining aware of their vulnerabilities. In his book “Leadership Blindspots: How Successful Leaders Identify and Overcome the Weaknesses That Matter,” Robert Bruce Shaw offers insights into identifying unrecognized weaknesses or threats.
September 5, 2014 02:46 PM
September 5, 2014 02:08 PM
Inevitably, says sales coach and author Keith Rosen (KetihRosen.com), when he nears completion of a two-day training session, sales managers freeze up and exclaim, “Wait, you mean I’m actually going to be held accountable for coaching my team?”
September 5, 2014 02:00 PM
Businesses around the world and in all industries are trying to crack the digital marketing code. How do you create an effective integrated campaign and what’s the best way to measure ROI? Some have progressed more than others, while a significant percentage continue to bark up the wrong tree, investing in delusional marketing rather than effective digital marketing.
Minter Dial, founder of the Myndset Company (themyndset.com), a boutique marketing agency, offers these 10 signals that you are practicing delusional marketing rather than bonafide digital marketing:
September 5, 2014 02:34 PM
When economies rebound from a sluggish market, recruiting and retaining top workers becomes more of a concern. But two recent surveys conducted by global professional services company Towers Watson indicates that many employers don’t understand the important reasons that employees join and stay with a company, including strong leadership.
September 5, 2014 01:12 PM
No offense, but it’s a good bet that no one has ever bought your product because they liked your logo.
September 5, 2014 01:57 PM
The best salespeople are fearless communicators. They laugh easily and have an insatiable curiosity that leads them to ask great questions. But there’s a dark side to extroverts, says Greg Lhamon, vice president of interactive and digital media provider Salem National. They have a tendency to waste time.
September 5, 2014 01:27 PM
Eight out of 10 sales strategies (78 percent) are ineffective, according to the annual research report by Sales Benchmark Index, a sales and marketing consultancy. Leading the list of reasons why you might have the wrong sales strategy: It’s the same strategy that your competitors use.
September 5, 2014 01:18 PM
In sales negotiations, when you focus on the differences between your positions rather than the commonality of your interests, little progress can be made. Time and emotion are the two things most often wasted during a negotiation, states Anthony Tjan, CEO and founder of the venture capital firm Cue Ball (cueball.com), in a Harvard Business Review blog post (blogs.hbr.org).
September 5, 2014 02:06 PM
It happens all the time. In the weeks that follow a sales training event, the freshly trained reps start blasting through their quotas, sales improve dramatically and management couldn’t be more delighted with their training investment. Within a few months (usually 90 to 120 days), the reps begin to backslide, reverting to comfortable old habits while the numbers slip back to their pre-training levels.
September 5, 2014 02:22 PM
“Marketing” is the newest release in the Brian Tracy Success Library (AMACOM Books), a series of condensed insights on various business topics. In it, trainer and consultant Brian Tracy offers these military principles that can be applied to your marketing strategy:
September 5, 2014 01:32 PM
Have you ever noticed that for some people, recognition and success just seem to fall into their laps? Their names pop up whenever people think about certain issues or problems. They get calls from complete strangers because a mutual acquaintance recommended them. In effect, they are successful because other people think about them.
September 5, 2014 02:27 PM
September 5, 2014 03:03 PM
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September 5, 2014 03:12 PM
Whether you run nearly two dozen different incentive travel programs annually like Mutual of Omaha does, or you sponsor one annual program that culminates with a trip for the best of the best, the challenge is to make each year’s program distinctly different from past efforts and enticing enough to motivate the troops.
September 5, 2014 02:15 PM
Every marketer will tell you that the one metric they most desire, but struggle to acquire, is campaign return on investment (ROI). B2B marketers, in particular, feel this pain because the processes that have historically been in place to execute campaigns and track sales opportunities reside in two completely different systems and are governed by two completely different departments (CRM and sales).
September 5, 2014 01:07 PM
The purpose of the Demand Metric Quality Benchmark Study sponsored by sales enablement provider Showpad is not to treat sales reps as scapegoats, but to determine how sales opportunities are affected by bad client meetings — and hopefully gain insights about how to prevent bad meetings. Over 60 percent of participants in the study sometimes, often or always experience bad sales meetings.
• The median close rate for sales when they engage with a qualified prospect is between 21 and 30 percent.