ACTG Sales Management Blog

Sales & Sales Management Expertise Blog  

Increasing Sales: The G2 Formula

Posted by Tony Cole on Wed, Dec 30, 2020

Lots of people talk about goals and having a plan to achieve said goals. And there is lots of information out there about how important it is to have an tracking system in place to make sure you execute your plan effectively. But what about the GRIND required to increase sales and achieve success?

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There is a sales production target out there – somewhere. It’s different for every person and every organization but it’s out there. And for every person and every organization there is the actual sales production result that is being achieved today. That is the Sales Opportunity Gap. 

The Objective Management Group Sales Effectiveness and Improvement Analysis is the guide that makes you the hero to close the sales growth opportunity gap. The findings in this analysis clearly lays out the current status of the sales team in these areas:

  • Will to Sell and Will to Manage Sales
  • Sales DNA, Sales Management DNA
  • Sales and Sales Management skills
  • Systems and processes that support sales growth
  • And more

These items are critical to understand if you ever hope to strategically and intentionally grow sales in your organization (or for yourself).

But this alone is not enough. Goals and Grind are also 2 requirements to get you from where you are to where you could be.

I'm reading Bob Rotello’s “How Champions Think in Sports and In Life”. I am in the middle of the chapter: Goals, Plans and Process. Lots of people talk about goals, goals setting and having a plan to achieve said goals. And there is lots of information out there about how important it is to have an accountability system in place to make sure you execute the plan. But the thing that struck me about Bob’s chapter is the discussion about the GRIND.

GRIND: it’s not talked about enough when it comes to discussing how to achieve a goal. The grind is the day-in and day-out stuff that you have to do to leverage your natural talents. The grind is the hard stuff, the stuff where we have a tendency to procrastinate.

So, what’s the grind in Sales?

  • Making the prospecting effort on a consistent basis
  • Pre and post call sessions
  • Practicing your sales skills
  • Inputting data in your CRM
  • Going to sales meetings
  • Having 1-on-1 coaching sessions with your manager

This is the grind. This is the stuff day-in and day-out that, when executed properly, leads you to your definition of success. This is what leads you to accomplishing your goal. Without the grind your goal is just a dream.

Need Help?  Check Out Our  Sales Growth Coaching Program!

Topics: reaching sales goals, sales prospecting, sales goals, increase sales, prospect outreach

The Secret to Improving Sales Success

Posted by Mark Trinkle on Wed, Dec 23, 2020

In this article, we cover the basic principles of control in sales and how the little things build momentum when it comes to selling effectively and separating yourself from the competition.

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Guidelines to Sales Success

One of the most frequently asked questions we receive from salespeople is, What is the secret to sales success? or, Can you just give me the magic?  I need to sell more business.  Actually, there is a secret sauce, and if you will permit me to enter your kitchen, I am going to serve it up to you.

There is no one thing that is a big thing in selling.  In our organization, we refer to selling as a “slight edge business.”  By that we mean that the line that separates high performers from mediocre performers is usually a very small difference.  Think in terms of maybe just one or two more conversations a week, or one or two more presentations a month.

The Olympics are a perfect example of this truth.  Think of almost any race, whether that be swimming, track and field or skiing.  Do you know what separates the athlete who wins the gold medal from the athlete who finishes just outside the bronze medal?  The answer is fractional seconds, sometimes even as little as tenths of a second.

How to Have More Sales Success

We all want to become a better sales rep, and ask ourselves how to be successful in sales?

There is very little you can control in selling.  You can’t make prospects take your call.  You can’t make prospects agree to meet with you.  You can’t make them move forward in your sales process and you certainly can’t make them buy from you. 

There are only 3 things you are in control of:

  1. Your effort on a daily basis
  2. Your attitude on a daily basis
  3. Your investment in becoming a better or smarter version of yourself (self-improvement)

 

Sales Guidelines

Selling is not going to suddenly become easier.  Leads are not likely to become more plentiful. So, the question that is worth asking is this:  What are you doing to shave fractional seconds off your sales time in the race you are running

What are the little things that when done week in and week out will amount to big things in terms of your 2019 production? 

Maybe it is the one more conversation you need to have each day with a prospect.  Maybe it is the one book you will read or the one new connection you will add to your network that will make all the difference.

Sometimes little things are so small you won’t even notice them when you look back at your sales success.  But that doesn’t mean that it is not a big thing to worry about the little things.

Need Help?  Check Out Our  Sales Growth Coaching Program!

Topics: key to sales success, improve sales, sales prospecting, sales success, increase sales

Identifying and Hiring Top Sales Talent

Posted by Alex Cole on Thu, Dec 17, 2020

Finding and hiring great sales talent is difficult. There are many characteristics you must ensure a candidate has in order to be successful with your organization. However, there are a few key attributes you need to look for during the interview process to increase you likelihood of hiring success.

My pup, Rocky, loved to lay on top of pillows. ALL pillows. He didn’t care if they were round, square, flat, cushy, or even sewn on and attached to the back of the couch- he would find a way to lay on them. And though it irritated me to no end, I appreciated his determination. He would do whatever he had to to be on top. He was the epitome of the great sales candidates you should be looking for- except maybe the dog part.  

Rocky Pillows

Great sales candidates will think the same way Rocky did- they have to be on top. They will do whatever it takes to make sure that they are successful. They will find ways to differentiate themselves amongst their peers. The hardest part, however, is being able to spot those great salespeople without wasting a lot of your, or their, time.

A great salesperson should prove to you that they:

  • Can handle themselves well on the phone and won’t get flustered when challenged by a prospect
  • Have a strong will and determination to succeed in their role, with your company, in your selling environment
  • Will ask robust follow-up questions to get the specifics required to properly qualify an opportunity
  • Can close for the next step at the end of the call

Trial the Highly-Predictive  Pre-Hire Sales Assessment

The number one question I ask myself after any interview is this: “Would I like to compete with them in the marketplace?” If the answer is no, strongly consider this individual for a position within your organization. The interviewing process you put candidates through should work to identify these key traits.

What if they don’t have the specific experience you are looking for? Don’t worry! You can train someone on the technical parts of being a banker, relationship manager or insurance rep, but it’s a lot harder to train them to be a great salesperson. 

So, when you are interviewing sales talent, remember Rocky and his never-ending quest for higher, softer ground and his grit to get there. He was the kind of top dog you should look to add to your team.

Click Here for Additional Hiring Tools!

Topics: Interviewing, assessing sales talent, upgrade your sales force, hiring top salespeople

Success in Selling: The 5 Myths

Posted by Tony Cole on Thu, Dec 10, 2020

Selling is hard. Especially with the easy access prospects have to critical decision-making information. However, the struggle often begins with how and what we think.

In this blog, Tony discusses the personal beliefs and myths that often get in the way of a sales persons ability to see greater overall success. 

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There are no secrets in sales! The internet and the digital world have pretty much eliminated any secrets to success in sales, and how to do almost anything else. All you need is a mobile device with access to the internet, and you can find just about anything you want to know.

With facts and strategies being so readily available, why do most salespeople (about 80%) still struggle to be successful? A lot of it has to do with beliefs and myths. What about you? Do you accept any outdated myths as facts? Some may include:

  1. People only use 10% of their brains
  2. There is a dark side of the moon
  3. Behavior is affected by the full moon
  4. Sugar makes children hyperactive
  5. Lightning never strikes the same place twice

So what is the best method to move past the myth and see success? It starts by getting to the root cause of the problem.

As many of you know, Anthony Cole Training Group has specialized in providing specialized sales growth solutions for banking, investment advisory, and insurance. Primarily, those growth solutions include:

  1. Hiring better salespeople
  2. Executing an effective sales process
  3. Sales Management training

During our years of developing and delivering content to hundreds of sales organizations, we have used the #1 sales assessment tool on the planet. Not only is the accuracy of the sales inventory assessment tool unbelievable, but the Sales Effectiveness and Impact Analysis have been a game-changer. One of the most compelling segments revealed in the assessments is about personal beliefs. Each of us has personal beliefs that dictate our behaviors and thus determines our outcomes. This holds true for all areas - sales, sales management, and sales leadership. Whether aware or not, we all have beliefs about what we do that impacts our opportunity for success. 

Trial the Highly-Predictive  Pre-Hire Sales Assessment

5 MYTHS MOST SALESPEOPLE BELIEVE

Here are the myths that many salespeople believe to be fact:

  1. People buy from people they like. Now, you may have purchased something from someone that you like, but that didn’t drive your decision. What drove your decision was your confidence and trust in the person, the product, and the company behind the product.
  2. People make buying decisions based on price. Staying with you and your purchasing habits for a second, let’s talk automobiles. According to MotorTrend, the cheapest car available today is the Chevrolet Spark with a base price of $14,095. If you own one, then you are a rare breed. The volume of sales of this vehicle in 2019 was only .75% of all vehicles sold in the U.S. If people only bought the lowest priced item, this would not be the case.
  3. Closing skills are the most important. This might be surprising to you, but in the last three studies I conducted in the banking segment, the top 33% of bankers, wealth managers, and private bankers who severely lack closing skills still led their teams in sales.
  4. The customer is always right. That is not the case. Due to information access, they're more educated regarding product knowledge, availability, options, and pricing but to assume they are right about everything is incorrect. However, this in and of itself is not the problem. The problem is this; if salespeople believe this, then they will never be gutsy enough to execute the challenger sale, the value-based selling system, the SPIN System, or our Effective Selling System.
  5. Prospects are always honest. 95% of respondents in all of our studies believe prospects are honest. That is until we conduct our first meeting with our clients and go through the process that buyers go through when executing their buying process. If a prospect were completely honest, they would tell the insurance agent who cold-called them that they got a renewal that is too high, and they want some competitive bids to keep the incumbent honest. We all know that doesn’t happen!

TRAINING ALONE DOES NOT GET LASTING RESULTS

Time and again, companies spend money on sales training to introduce them to a new:

  • sales language
  • sales approach
  • prospecting method
  • time management process
  • cross-selling strategy

What happens is that the company spends a lot of time, money, and effort, and yet, at the end of the event or training, they cannot point to any discernable difference in outcomes. Behaviors stay the same, problems that existed before are still there, effort changes for a while but soon returns to pre-training levels and salespeople still blame the economy, the company, or the competition for lack of success.

Top people are still performing at the top, people in the middle of your sales bell curve are maintaining, and your bottom 20% are not performing any better than the bottom 20% you had the year before. Why? Because the root problems associated with these beliefs were never uncovered.

For you, your team, and your organization to see greater success, it's critical to identify, address, and build strategies to overcome the myths or beliefs that are hindering personal growth.

Need Help?  Check Out Our  Sales Growth Coaching Program!

Topics: sales succes, improving sales results, increase sales, key to successful hiring, sales performance coaching

How to Handle Difficult Prospects: Why Prospects Are Like Produce

Posted by Tony Cole on Thu, Dec 03, 2020

Years ago, while attending the Objective Management Group International Sales Conference, Dave Kurlan, president of OMG, talked about how to effectively manage opportunities through the pipeline.  He made the analogy that prospects are like fruit and vegetables in the produce section of your local grocery – they are all perishable.

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Ways of Dealing with a Difficult Prospect

Sometimes, reaching out to prospects is like pulling teeth.  

Some prospects are difficult because they don't understand the value of what you have to offer, while others simply do not want to be bothered by a salesperson right now.  

No matter the reason, you still need leads and so being able to move forward with a prospect

 

Not Every Prospect has the Same "Shelf Life"

Prospects- they have a shelf life and can have thick skin, just like fruits and vegetables.

Some of them last longer than others. 

While some produce is ripe for the picking, and others have a toughness to them.

Bananas – not so long, apples and mandarins- a little longer, potatoes and squash- they'll last the longest. 

The bottom line is that none of them last forever.  You need to either pick them now or find a way to preserve them for later.

Below, we'll give you some tips on how to help deal with some of those more difficult prospects and in hopes to get them closer to the sale.

 

How to Deal with Difficult Prospects

Practice Actively Listening

Listening is one of the most important, yet underrated forms of communication.

When people think of listening, they generally associate it with silence or not talking at all.

However, that is not completely correct.

Active listening means that you are trying to understand what someone is saying rather than just wait for your turn to talk.

It takes practice but can be a great tool for not only for your sales profession, but in any conversation in the future.

 

Practice the Beginner's Mind

The beginner’s mind — also known as the zen mind — is a strategy of approaching every situation as if you were starting from scratch.

When you open yourself up to the beginner's mind, your perspective on everything can change.

When we adopt this way of thinking, it becomes easier for us to enter conversations without any preconceived notions or prejudices about our prospects and their situations; instead focusing solely on what they are saying while putting ourselves in their shoes.

Instead of telling yourself "the prospect should have known this", or "they should have called me back by now", put yourself in the beginner's mindset and it becomes easier to recognize that no one is perfect and you can tailor your approach to better accomodate.

 

"Chunk" Your Problems

Chunking is the process of taking one big problem and breaking it into several smaller, more manageable portions.

These small pieces are easier for us to tackle because they allow our brain time-out from thinking about all those difficult details while still moving forward with progress made on previous sections!

Chunks can also be used strategically when coming up against challenging problems--chances are if given several tasks in order then maybe we'll find an issue that needs addressing immediately or at least feel less overwhelmed by responsibility alone.

 

 

Don't let Prospects Perish

Here is the point.  When going out into the market, you can find yourself wasting your time with prospects that aren’t quite ready or are already past their prime time for consumption. You may experience:

  • That the prospect is too "green"
  • They just opened a new account with their bank partner
  • Just renewed their insurance
  • Their lease expires in 11 months

If you want to close more business, more quickly at higher margins, then find the highly perishable prospects and work with them on solving their problem. Present a solution to them and get them off of the shelf.  Do not neglect the potatoes, bananas, tomatoes or green beans; continue to check on them, plant them in your database (your CRM) and, when the time comes to make potato salad, they will be ready.

 

For more online sales resources, check out some of our other sales articles over at our Sales Brew.

If interested in sales training or sales coaching, we have a dedicated professional team of sales experts that can help drive better sales performance and build better sales teams.

Contact us today to learn more!

Topics: prospecting skills, improving sales results, increase sales, qualifying sales prospects, contacting prospects


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    About our Blog

    Anthony Cole Training Group has been working with financial firms for close to 30 years helping them become more effective in their markets and closing their sales opportunity gap.  ACTG has mastered the art of using science-based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss our weekly sales management blog insights from our team of expert contributors.

     

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