This post was inspired by a recent entry on The Sales Blog that discussed how it is easy to do the enjoyable things, when instead we should focus on things needed to improve sales results. Such as, resolving customer problems. Problems with a customer don’t go away, unless the customer goes away. So from our quantitative perspective, how would we suggest making it easier for salespeople to engage in difficult conversations? Three ways this could be done: Mix up the servings. Segment your customer portfolio based on buying cycle. Ensure that the salesperson is calling on all segments in some proportion that reflects both gains in immediate sales and long-term relationship. Use the CRM system to set up call blocks that are driven by analytics, to ensure consistent actions across the entire sales force. Demonstrate the loss from not making the call. Salespeople hate leaving money on the table. To show how much could be left behind, define a customer segment to call first as suggested above. Then identify actual sales revenue from sales calls made previously to a similar customer segment. Use this revenue figure to establish a per-customer baseline of incremental sales generated. Multiply this figure by number of customers in your “to call first” segment. Use …Read More
What to do when your sales reps think good leads are bad
Inside sales teams are at it every day, making thousands of calls to prospects, seeking an appointment or a sale. They are given scrubbed lists with contact names, job title, phone numbers and a good luck pat. On the back end, managers track calls, appointments and sales. The cycle continues when reps deplete their assigned leads and it starts over again. There are times when this well-oiled prospecting machine can under-deliver – and you may not be aware. But there are easy fixes. Here we explore three cases, and discuss how to overcome these challenges. TESTING NEW MARKETS: When looking at sales data, you may find strong traction among companies that don’t fit the best customer profile — or at least what the rep thinks is the best profile. This finding is usually uncovered by in-depth profiling, micro-segmentation or modeling analysis. These customers may not be among the largest customers, but you find that they purchased numerous units of products that fit specific needs. As an example, say you are selling technology products, and religious institutions are not known as leading technology buyers. But recently we came across a church buying hundreds of iPads for one of its programs. This is opportunistic entry into a market if other religious institutions have similar programs. What you can do: …Read More