ACTG Sales Management Blog

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Is Your Sales Growth Stuck in the Chimney with Kris Kringle?

Posted by Tony Cole on Wed, Dec 11, 2019

In this blog, we discuss the concepts behind real, tangible sales growth and ask the question, "Is Your Sales Growth Stuck in the Chimney with Kris Kringle?" 

Sales growth is dependent upon Closing More Business, More Quickly, at Higher Margins and we are here to show you how you can accomplish this within your organization!

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This morning, my wife (and ACTG's President CEO Linda) and I were watching Morning Joe while talking business.  We were discussing our brand promise of:

"When you lie awake at night worrying about sales growth, we lie awake at night.” 

We compiled a list of questions that often haunt managers throughout the day and into the night when they should be preparing for a good night’s sleep:

As we’re talking, we see a news banner at the bottom of the screen about a man who was arrested for breaking and entering a home.  He was apprehended after the police entered the home and saw his feet dangling from the chimney.  As usual, I automatically started thinking about how that related to sales, sales management, performance management, coaching, pipeline, pre-call strategies, etc.

And, since it's that time of the year, it also made me think of this great scene in The Santa Clause: 

 

My first question, however, is this: 

  1. “Do you have sales opportunities that are important/critical for hitting your goals and growing sales that are stuck?”

My second, but maybe the most important question, is:

    2. “Is this particular opportunity a repeat offender?” 

 

QUESTIONS FOR EVALUATING OPPORTUNITIES

Now, there are 2 things to consider when attempting to answer that second question.

  1. Is that opportunity familiar to you and the salesperson who has entered the opportunity into your pipeline management system? (This isn’t the same as your CRM). If we’ve worked on this opportunity before and they – the opportunity – “got away on a technicality”, then this would be defined as a “repeat offender”:
    1. Not the decision maker
    2. Wasn’t able to undo the current relationship
    3. Decided to not make a change
    4. Couldn’t arrive at the price point
    5. Really didn’t have a solution that fit the features and benefits they were looking for
    6. The timing wasn’t right
  2. Are other opportunities stuck in the pipeline/chimney for the very same reasons as this one?  The salesperson failed to execute the qualifying steps in your sales process:
    1. No compelling reason to make a change identified
    2. Competition unknown
    3. Incumbent still part of the equation
    4. Budget for investing time, money resources is a mystery
    5. Decision making process has not been uncovered
    6. Timing or urgency of making a decision not clearly understood
    7. Agreement on next steps unclear
    8. Did not ask the question – Is this a “want to fix” or “have to fix” problem?

CMBMQHM AND WHAT YOU NEED FOR SALES GROWTH

Sales growth is dependent upon this – CMBMQHM.  My staff hates it when I make up acronyms like this.  When I put these in our learning decks, the people in my office want to know what the acronyms mean. 

Close More Business, More Quickly, at Higher Margins

So, what does it take to accomplish CMBMQHM?

  • You must have a milestone-centric sales system – something that can be quantified, measured and evaluated for progress towards the objective of “getting a decision”. (This is not the same as “getting the sale”.)
  • You have to have a process for building a success formula for each salesperson based on that sales system.
  • You have to have complete buy-in to the use of your pipeline management process. Here are the guidelines to get that buy-in. It needs to…
    • Be easy to use
    • Be effective
    • Be beneficial to the user
    • Provide you with business intelligence
    • Automatically generate and send reports to you so you don’t have to go find the information
  • You have to have a system of pre-call strategy sessions for EVERY opportunity that meets or exceeds the benchmark of your top 33%.
  • You have to have a post-call debriefing session for every opportunity you discuss in the pre-call session.
  • You have to conduct a CSI – “Crime Scene Investigation” – for every deal you don’t get.
  • Finally, you have to conduct 1-on-1 coaching sessions that are intentional.
    • They are based on the findings from your pre- and post-call meetings
    • They are based on what your data is telling you about the choke point(s) a particular salesperson is having or the most common choke point(s) for the group
    • The coaching needs to accomplish 1, if not 2, things:
      1. Change behavior
      2. Improve skill

Additional Resources:

Download the Success Formula Worksheet

Sign up for our Effective Selling System Online Demo 


 

Topics: Sales Training, hiring sales people, Sales Management Training, How to Increase Sales, Sales Coaching, increase sales, hiring better salespeople, how increase sales, grow sales, sales growth problems, will to sell, sales challenges, life lessons, creating new sales opportunities, practice schedules, selling tools, sales productivity tools, budget, solution, sales conversations, sales effectiveness training, banking sales training, professional sales training, consultative sales coaching, corporate sales training, sales force performance management, sales training courses, buyers journey, social selling, online sales training, politics, hire better people, insurance sales training, brand video, train the trainer

How to Improve Sales:  5 Keys to Coaching Sales Improvement

Posted by Tony Cole on Thu, Jun 27, 2019

If you are not in the acquisition business, then you must develop your talent.  One of the keys to doing that is to understand how to drive sales improvement. 

You must determine what is really happening with your salespeople when they fail to acquire a new piece of business. 

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Companies are constantly trying to figure out how to drive organic growth by:

  • Acquiring a revenue stream by buying a business or lifting out talent from a competitor
  • Developing current talent

If you are not in the acquisition business, then you must develop your talent.  One of the keys to doing that is to understand how to drive sales improvement.  You must determine what is really happening with your salespeople when they fail to acquire a new piece of business.  (See LinkedIn Article: What You Don't Know Can Kill Sales Growth

Are your people just making excuses for failure or do they have deficits in the required sales competencies or will to sell?

To be successful in determining the real issues with your salespeople, you must have a system.

I read a blog the other day by Dave Kurlan.  We’ve had a strong business partnership with Dave and his company OMG (Objective Management Group) for most of our 24 years in business.  With OMG, we have the ability to determine the answer to the question – is it excuses or is it a talent issue?

Dave’s post  - 12 Reasons They Didn’t Like You Enough To Buy From You – helps address some of the issues associated with “not getting the business”.  It primarily focuses on the area of matching styles.

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This got me thinking about the issue of “style” as it relates to talent, which relates to sales competencies and excuse making.  The challenge for the sales manager is determining if the reason a salesperson did not get the sale was really a talent issue, or if they are just making excuses for failing to execute the skills or sales process of the organization.

To determine the root cause of the results, a sales manager must work more closely with the relationship managers and implement a process that Bill Eckstom calls “intentional coaching”.  This process of working closing with your RMs is addressed in our Sales Management Certification Program in the Coaching for Success Module.

Here are the 5 steps you must take to help you determine if your people have skill issues or an excuse-making issue:

  1. You must gain insight. You gain insight by using various data points. The data points you MUST use are: 
    1. Observational joint sales calls – You do not run the sales call; you observe your RM
    2. Data from your CRM or SAT program (SAT – Sales Activity Tracking)
    3. Sales meetings – In all your sales meetings, you need to include a segment on skill development where you drill for skill, role play and conduct strategy development discussions
    4. 1-on-1 coaching – Each week, you should have time set aside for 1-on-1 coaching with those people that are NOT in the 1st quadrant of the “Where’s Walter?” matrix
  2. Provide feedback. In advance of the discussion about lost opportunities, you want to provide your RM with the data you have – no ambushing.
    1. You discuss – ask the RM questions about what they see in the data
    2. You provide them feedback based on what you see and where the problems might be
    3. You discuss what the future might look like if the current trends continue
    4. You agree that there is a problem
  3. Demonstrate – Once you identify the problem as either an excuse or a skill issue, you demonstrate to the RM what you expect them to execute.
    1. If they are making excuses – ‘They didn’t understand the value of our offering” – You ask, “If I didn’t let you use that as an excuse what would you have done differently?”
    2. If it’s a skill problem – “I asked them if they had a budget and they said yes.” “When you asked them what it was, what did they say?”  “They said they didn’t want to tell me.”  “When you asked, ‘why not?’, what did they say?”  “I didn’t ask that question.”
  4. Role play – The scenario above allows you to now role play with you playing the prospect. You need to start with Drill for Skill and then graduate to the full role play.  Getting them to practice what you expect them to do takes patience and repetition.  Do not believe for a second that one role play will be enough.  You need to start your RM on a weekly coaching session repeating the required skills over and over again. 
  5. Action steps – each coaching session must end with action
    1. Bill, so what I want you to do is call Mary and have this conversation we just role played.
    2. I want you to report back to me by end of business today what happened as a result of that conversation.

Implementing a process of gaining insight, providing feedback, demonstrating, role playing and establishing action items will go a long way in helping your team discern the difference between making excuses for failure and the need for skill development.

 

Topics: sales skill improvement, consultative selling, 5 keys to coaching sales improvement, how to improve sales, grow sales, develop talent

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    About our Blog

    Founder and CLO Tony Cole has been working with financial firms for more than 25 years to help them close their sales opportunity gap.  He is a master at using science based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss his weekly sales management blog insights.

     

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