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What Does It Take to Create & Convert Leads (and also Hire Those Who Will)?

Posted by Tony Cole on Fri, Sep 15, 2017

What does it take generate and convert leads and hire sales people who can consistently perform this ultimately necessary job?  

Lead Generation Equation:  Effort +Effectiveness = Leads

Hiring the right sales people who can perform this job requires:

  1. Knowing what skills and behaviors to look for in a new candidate
  2. Having a system and process to find these special people
  3. Assessing and interviewing for the critical ‘hunting’ skills

But it’s not that simple.  Every president and sales manager I’ve talked to over the last year, tell me that the biggest challenge their sales people face is creating enough leads, converting those leads to opportunities and then converting the opportunities to revenue.

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If you’ve read my posts in the past you may have stumbled across one that talks about growing up on a blueberry farm in Hammonton, NJ.  Little did I know at the time that my early life would help me better understand the world of selling.  Growing up on a farm is about surviving.  Our family survived season after season, year after year.  We were never rich, never had extra money, were never able to save for a rainy day much less put money away in a retirement account.  Surviving then (and probably now for most of those who work in farming) required three important skills and behaviors and discipline to be successful.

I assure you that none of the following three “lead generation and selling” activities were easy.  These activities required a commitment to succeed, a not-an-option mindset, specific skill sets and a vow to do everything possible to succeed.

  • Hunting – my dad hunted, had to hunt, to put food on the table for six of us.
  • Farming – we grew blueberries, peaches and strawberries. Mom and dad sent hours canning peaches and freezing strawberries and blueberries so mom could make pies in the winter.  They also bartered for tomatoes from neighbors and other local farmers and canned jars and jars of tomato puree.
  • Trapping – Years after I left the farm my dad started trapping muskrat and fox to make money from the pelts and had a garden that supplied their winter supply of canned vegetables. He also had a friend in one of the local rangers who would casually mention when there was fresh deer meat nearby.

 Growing sales requires lead generation.  Today’s lead generation activities are different than those of a few years ago, different because today’s prospects are different.  They are different because technology, the amount of information and the mobile ability to access information, has been a game-changer that favors the buyer

Today’s sales person can no longer rely solely on traditional prospecting skills and behaviors to generate leads.  Today’s successful sales person must have the hunting DNA but must also diversify efforts AND become more effective.

When we assess sales talent within an organization or screen sales candidates, we help our clients minimize the high costs of hiring ‘ghosts' with findings in several important areas that help determine if the sales person or sales candidate has the aptitude and skill to develop new business.

Hunting

As you can see from the exhibit below, very specific skills are needed to be a successful hunter. A hunter must be able to get past “gatekeepers” to reach decision makers, attend networking events and consistently prospect. 

But look at all the ‘stuff’ that you may not have known are critical to generating enough leads.  Generating leads today includes additional skills and aptitudes, as well as traditional people skills and aptitudes. Examples include: Uses sales 2.0 tools, gets referrals from customers/network, has no need for approval, WILL Prospect! 

Compare Your Salespeople on 21 Core Competencies

Topics: Prospecting, sales leads, generating leads, how to prospect, create & convert leads

Hitting Your Sales Goals – 3 Challenges to Overcome

Posted by Tony Cole on Wed, Sep 06, 2017

In the last 30 days, I’ve talked to more than a dozen company executives, sales people and sales managers.  I’ve asked them “What is the #1 constrictor to hitting your sales goals?”  The answer every time was: getting more qualified leads.  I know this is not a large sampling and I would be concerned about the validity of this finding if only 25% of them said that getting more qualified leads was the main problem. But that isn’t the case.  The consistency of answer in this survey indicates a trend to focus on.

There is further validation of the current finding:

During training discussions over the course of more than 20 years, I’ve asked sales executives, presidents and sales teams to complete the following statement:  I (we) would sell more, be more productive, more effective if only I (we) …  The #1 most common answer consistently over the years has been “If I had more / better prospects to call on.”

In order to address the problem of gettin more qualified leads, sales leaders and salespeople need to first understand these three challenges:

  1. Will to Sell
  2. Sales DNA
  3. Sales Skills

Let me use an example to explain.  We are currently working with a financial institution that is hiring a new private banker in an expanded market.  Using the pre-hire assessment from our partner Objective Management Group, we created a ‘tailored fit model’ based on the performance of the top and bottom current private bankers and then assessed the 5 candidates they were still considering.

Take a look at these findings:

Figure 1 – How well did the candidates match the clients’ work history criteria for success?  The client created a profile that indicated that the non-negotiable sale success criteria where: 1) must be competition resistant (successfully sold in a competitive environment), 2) Successfully sold value rather than price, 3) Sold to executives, 4) Has successfully hunted and sold new business (this addresses challenge #3 sales skills – specifically skills for hunting/ prospecting), 5) Is an entrepreneurial seller.  As you can see all the candidates being considered marginally met the client criteria for success with 3 of the 5 having an 80% match.

But when we look at the other findings, we find the 3 challenges most common to organizations that are trying to consistently hit / exceed their sales goals.

Figure #2 -When we look at Challenge #1 – ‘Will to Sell’ we find the following:

Only 1 candidate meets all the criteria for Will To Sell. The question becomes:  How important is the will to sell when attempting to overcome the challenges of finding qualified prospects to talk to? If 1/3 of your current team lacks the will to sell what is the likelihood  - despite all the ‘prospecting’ training you provide them – that they will actually execute?  Also note that one of the candidates with strong desire, commitment and outlook will still be prone to making excuses for not prospecting, asking for introductions and networking. (Desire for Sales Success)

Figure #3 – Sales DNA (Sales DNA Audio) findings for the 5 candidates looked like this:

This post won’t go into the definitions of all the criteria you see here but understand that green is good and red is not so good.  If you look to the right of the graph and look at the Total Sales DNA the scores in green and red told our client what they needed to know.  If everything else is equal in the equation then your people with strong sales DNA are more likely to do the activity of prospecting and will be more successful.

*Candidate #2 meets the criteria of the client, has a very strong will to sell and has the highest sales DNA score.  How many of the people on your sales team measure up to this ‘elite’ candidate?

The world of selling is certainly different today than it was just 5 years ago.  Your prospects in the market place have more ways to find more information about you, your products and services. They have more ways to compare you against your competition and all of this happens without you or your sales people even making contact.  (See ZMOT – Google Research – Zero Moment of Truth).

To meet the challenges of today, you need a sales team with the right stuff.

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Topics: Prospecting, sales goals, sales prospects, qualified leads, sales leads, generating leads

Election Day 2008 - 5 Votes for Better Sales Success

Posted by Traci Powers on Tue, Nov 04, 2008
 

It is Election Day and arguably the single most important Presidential Election of our lifetime. In the spirit of making decisions that make a difference, here are 5 decisions to make that will impact your sales success:

  1. Vote to have clear and extra-ordinary goals. There is something inspiring about having goals and making them extra-ordinary. As Walt Disney said, ‘dream the big dream, there is nothing in small dreams that stir the blood.'
  2. Vote to be a leader within your peer group and be the dominate player in your market. Too many times I hear, ‘we are not the dominate player in our market'. So, what does that have to do with you deciding that you will be the dominant player in your market place? All of you have the product selection, the support and the resources to be the dominant player. Vote for yourself to be that kind of player.
  3. Vote to get decisions from prospects. In other words, get them to vote. Today you can't go to the polls and say, ‘let me think about it'. No, all the thinking has been done. Today you take action and decision making takes place. You can do the same thing with prospects. Ask them to do all of their thinking before you show up so that they are armed with questions, you are prepared to answer them and when done, people can decide. Yes or no is ok, but vote.
  4. Vote for prospecting. You have to understand that you can't get people to choose you unless you are out their campaigning for yourself. Establish your brand by getting into the market. Let people know who you are even if you don't get the appointment. If you call them and let them know who you are the first time, then the second call gets easier.
  5. Vote to qualify who you will work with. Not everyone is someone that fits your vision, mission and goals. Not everyone in the market place qualifies to pick you as someone they want to work with or represent them. You can't approach the market place hoping that you can serve all the people all of the time, it just isn't going to happen. Decide who you are best suited to represent and then do that to the best of your ability.

Thanks for listening to my stump speech today.  Go VOTE!

Topics: Prospecting, Selling, Sales, sales techniques, How to Sell, How to Increase Sales, increase sales

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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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