One thing is certain in the new year, customers will continue to go online to avoid anyone with sales in their job title. A recent study by Forrester Research states that over 1 million sales jobs will be lost by 2020. Any salesperson that doesn’t add value, understand his or her products, or help their customer navigate through the buying process will be irrelevant or ignored.
How are top sales managers responding to help their sales reps in the year ahead? Understanding some basic elements of psychology can help drive performance in ways you may not have thought of. Based on ongoing research and applications that we see in our top sales initiatives, here are some trends to consider as you plan for the upcoming year.
Fast brain, slow brain
Whether you are trying to connect with your own sales team or with customers and prospects, understanding how the brain makes decisions can unlock more powerful sales presentations and lead to better results. Using the right mixture of dramatic, creative stories and visuals, paired with the right amount of data to back up your ideas and claims, will result in your message being believed — and most importantly — remembered.
Behavioral economists use the term “anchor” to describe the emotional starting point your audience has in their minds. A simple analogy is suggested retail price. Retailers know the power of suggesting a high starting point and focusing more on the discount vs. the final cost. Your anchor point may be price. It could be results. Or improvement in performance. Setting the right expectations for your team and your customers will result in a more provocative conversation — and set the tone for a better long-term relationship.
Meaningful work
According to our New Rules of Engagement research, salespeople who feel they are part of something bigger than just a paycheck will have more intensity in their work. This can inspire them to set higher goals — then work harder to achieve those goals.
The medical device industry has a high level of meaning for its sales reps — products can save lives for patients on a regular basis. So how do you increase intensity? One sales team moved beyond spreadsheets and emails and visually showed each rep how he or she was performing on a regular basis — making each update a reminder of the important work they do. Another sales team used immersive storytelling at their annual meeting to share powerful accounts of success.
Self-selected goals
Even with data that shows the power of self-selected goals, sales leaders are still reluctant to turn control over to their reps in this area. In the long-term, we know that quotas and minimum standards aren’t going away. But using self-selected goals to drive short-term improvement is the perfect way to allow reps to challenge themselves to achieve their personal best.
Tracking and rewarding for achieving short-term self-selected goals requires specialized technology and increased tracking, but adding this strategy to your game plan can yield double-digit ROI and engagement of not only top performers, but also those fence-sitters who are the hardest to motivate.
Crowd-sourced learning
The days of collective wisdom (aka tribal knowledge) are quickly becoming a thing of the past, thanks to new apps like SkillFitness, a powerful way to share best practices and sales presentation techniques on mobile devices. Sales reps watch the experts demo a product or tell a story, then try to beat the expert with their own video. Once those are shared, the best examples rise to the top to help your whole team.
The key to this kind of learning is to keep each video short, focused and to-the-point. If you still think learning should be measured in hours or days — and not minutes or seconds — you will soon be left with an empty classroom.
Salesperson as customer
Whether your salespeople are your own employees, or work for a channel partner of yours, they often act like customers. It’s a fact of life that we need to sell the salesperson before they have the skills, abilities and confidence to connect with customers.
One recent survey targeting independent channel sales reps shows that having an involved and enthusiastic field sales force makes your channel reps almost 15 percent more excited, proud and motivated to participate in your programs and sell your products.
Customer as salesperson
When you buy something big or small, who do you trust the most? A salesperson who has financial stake in your decision? Or a current customer who provides an unbiased online review?
This new reality means that you need to connect your sales efforts to your marketing message like never before. Use training and communications to ensure your salespeople understand key differentiators and stay current on marketing offers. And work with a strong agency that can get your message to key influencers along the way.
To learn more about BI WORLDWIDE’s sales engagement and incentive solutions, visit: BIWORLDWIDE.com or email info@BIWORLDWIDE.com.
