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

Sales Inspiration from Two Basketball Legends

Posted by Tony Cole on Fri, Aug 30, 2019

The buyer's cycle has changed. These days, when a buyer wants to make a purchase, they have all of the tools located in the palm of their hand.  If you are not making the buying process as frictionless as possible, then you are most likely going to lose out on a sale. 

Even if it's a long buying cycle, it still needs to be a seamless one!  In this article, we discuss valuable lessons for salespeople and their sales leaders, including an excerpt from legendary UCLA Head Coach John Wooden and his former player (and NBA star) Bill Walton.

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The only difference between successful salespeople and the other 77% is that the successful salespeople actually do the very things they don’t like doing.”  

This is a quote from Dave Kurlan’s blog post about Bill Walton and John Wooden (see Additional Resources below).  Dave uses role-playing as an example.  I see this all the time!  Ask someone to role play in front of the group and they shut tight like a clam. 

How can you possibly get better at pressure situations if you don’t practice under pressure?

Bill has published and is now marketing his book, Back from the Dead.  I read a couple of lines from an interview with GQ and immediately went to my Amazon add-in and downloaded the book with my 1-click.

Here was my amazing buying experience:

  • I read an article that got my attention.
  • I clicked on a button in my Firefox ribbon at the top of my page.
  • I searched Amazon for “Bill Walton”.
  • The book popped up.
  • I clicked on the little thing on the right side of the page that said, “Buy Now using 1-click.”
  • I wanted the Kindle version so I could read it on the plane without carrying a big book, so when Amazon asked me if I wanted it downloaded to my iPhone, I clicked “yes.”
  • This all took less than a minute.
  • And that, my friends, is today’s sales cycle.

In your sales world, it might not take as many steps or it might be more.  In your sales cycle, it probably takes more than a minutemaybe 30 days, maybe 120, maybe a year.

Bottom line: There is something that stimulates the buyer. The buyer gets the information they want and then… when they want to buy… they want to make the process easy and they want options.

If you are not doing those things (stimulating the buying response – providing information to make a buying decision – giving them options – making it easy), then you are going to lose the sale to those that do those things. 

Not only will you lose occasionally, but sooner or later, it will become a permanent condition.

Now, my favorite Bill Walton and John Wooden story.

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Watch the video to get the whole story, but in short, the lesson for the Sales Leader is this:

  • You’ve been hired to do a job – drive sales growth/win market share
  • Part of that responsibility is to put the best team in the market.
  • As the coach, you establish the culture for winning; you set the team rules.
  • You can lead people but you cannot make them do something – players have free will.
  • If someone violates the rules, something has to be done – bend the rules, keep the rules
  • If a salesperson wants to exert their independence, let them. But let them do it somewhere else.
  • They have to want to play for you and win more than compete against you and lose.

Additional Resources:

Dave Kurlan’s blog:
The Sales Success Secret Shared by Bill Walton and John Wooden

Unless you have strong leadership, the money you spend on sales training is wasted. Stop wasting money.  In addition to great players, the key to a sales team built for growth is great sales management Leadership and Management. Read more about our Sales Management Certification.

Make sure you get great players who are committed to winning for you – Hirebettersalespeople.com

Topics: NCAA, Bill Walton, John Wooden, close the deal, sales challenges, life lessons

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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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