ACTG Sales Management Blog

Sales & Sales Management Expertise Blog  

"Gone Fishing" for Sales Prospects

Posted by Alex Cole on Fri, Nov 15, 2019

I’m sure the majority of people have heard the Chinese proverb “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”

This, of course, means it’s more worthwhile to teach someone to do something (for themselves) than to do it for them (on an ongoing basis).  Well, I’ve created a new proverb. A sales proverb, if you will:

“Give a salesperson a prospect, and you strengthen their pipeline for a day. Teach a salesperson to prospect, and you strengthen their pipeline for their career.”

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Makes sense, doesn’t it?

A lot of the companies we partner with supply their new, or tenured, salespeople with leads consistently. In theory, this sounds great but it can cause problems long term. If you are feeding leads to your salespeople on a regular basis, we encourage you to continue to do so. However, your salespeople can’t, and shouldn’t, rely on them as their main resource for potential business.

They should be capable of replicating the process and generating their own opportunities! If they produce solely off of inbound marketing leads, the salesperson will just survive and not thrive within your organization. If they don’t know how to effectively create, cultivate and generate leads, they will only do what is required of them to sell and close the leads they’re given.  They also won’t try to uncover other opportunities and in the end, the sales manager (you), and the salesperson, will be disappointed with their performance.

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And, it’s not just a matter of teaching them how to prospect but how to prospect effectively. Anyone can go out and get a list of names but how they contact those names, what they say, what questions they ask- all play a role in effectively “fishing” for leads.

So how can you help your salespeople?

Start by setting a new lead expectation. Making it mandatory to produce fresh opportunities on a weekly basis will force your salespeople to go out and make the dials. Next, identify your “Zebra” or ideal prospect persona. For a better understanding of the concept and best practices on identifying “Zebras” watch this short Sales Guy Unplugged video.

Don’t let your salespeople call on anyone other than those that fit the personas identified!  After, research the best ways to reach your ideal prospect. Is it via email or phone call? Is LinkedIn, Facebook or Twitter their preferred social media platform?

Knowing how and where to reach your target persona will positively impact your salespeople’s’ ability to hunt, qualify and discover potential new business.

A salesperson's job, although difficult to do, is not difficult to understand. There are 3 major components:

  1. Go out in the marketplace and uncover opportunities.
  2. Qualify those opportunities.
  3. Close for the business.

Don’t let your salespeople get by on just using your internal leads- fishing for prospects is 33% of their job!

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Need more help? Download our free E-Book “Why is Qualifying a Prospect so #%&@ Hard”.   

Additional Resources:

Sales Productivity Tools

Must-Ask Questions Worksheet

Topics: hiring salespeople, Sales Management Training, hire better salespeople, consultative selling, increase sales leads,, sales effectiveness training, banking sales training, consultative sales coaching, sales training courses, online sales training, hire better people, insurance sales training, train the trainer

Sell Better. Coach Better. Hire Better.

Posted by Patrick Kollmeier on Tue, Nov 05, 2019

In today's blog or "vlog", we bring you our newest Anthony Cole Training Group's brand video.

Give it a watch below as we show you how we help build sales organizations into selling, coaching, and hiring better and what that means for their success: 

 

Topics: hiring salespeople, Sales Management Training, hiring sales managers, hire better salespeople, sales performance management, sales management tools, consultative selling, consultative sales coaching, online sales training, hire better people, insurance sales training, brand video

Goal Setting is a Crucial Sales Step: Our 4th Sales Productivity Tool

Posted by Tony Cole on Tue, Oct 22, 2019

In our fourth installment of the 9 Sales Productivity Tools, we bring you the next tool in our series, Goal Setting.  When we talk about goal setting, we start with personal goals and then help our clients convert those personal goals into business plans.

Those business plans have goals for activities that need to be performed, as well as practice management objectives to be accomplished.


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I remember when I set my first goal at 9 years old.  I had just walked off the field from my first day at football practice, and my dad asked how it went. I told him that I loved it, and that someday I would go on to play college football. He asked me if I was sure and I said YES. Then, he told me to take off my helmet and shoulder pads and to start running laps around the field. He said, "If you are going to play college football, then you have to be in great shape." So I started running and didn’t stop until the end of my career at UConn.

To this day, winning is still an important goal for our clients and my team and I here at Anthony Cole Training Group.  However, to think that winning is the only goal that needs to be set, and that everything else will take care of itself, is faulty thinking. When we talk about goal setting, we start with personal goals and then help our clients convert those personal goals into business plans. Those business plans have goals for activities that need to be performed, as well as practice management objectives to be accomplished.

What are the personal things your people want to achieve in their lives and what are the daily tasks they must accomplish in order to achieve the BIG things? If the big thing is to be the top producer in the company, then they need specific sales goals for:

  • Increasing their average size sale
  • Improving their closing ratios
  • Asking for and getting more introductions

But these goals don’t drive the behavior the commitment, desire or motivation to succeed. Those goals look more like:

  • Send my kids to the college of their choice without debt
  • Have a cabin on the lake
  • Provide enough income so that my spouse can make a choice about being a stay-at-home parent or not
  • Eliminate all debt
  • Have a financially independent lifestyle at retirement

Goals have to be non-negotiable. They have to be shared with others that care enough to give you a slight correction when you head off course.

These are goals that the sales manager must know about so that they can more effectively keep individuals motivated.

Unfortunately, most companies don’t operate this way.  In your sales organization, anywhere between 7% and 25% of your team do not need you to create an environment where a goal setting session takes place. But, and this is a BIG but, that leaves at least another 75% of your sales team that does need this type of environment and guidance.

If you're interested in conducting a personal goal setting workshop, shoot me an email at tony@anthonycoletraining.com with the Subject - Personal Goal Setting Workshop and we can get started!


Additional resources below: 

 

Sales Productivity Tools Resource Page: 

Sales Productivity Tools

 

 

Check out our 2MSM Video on Motivation That Works: 

 

Topics: Sales Training, Sales Management Training, Leadership Training, increase sales, sales performance management, consultative selling, sales productivity tools, consultative sales coaching

"Why Do So Many of My Salespeople Fail to Perform as Expected?"

Posted by Tony Cole on Fri, Oct 11, 2019

Why do so many of my salespeople fail to perform as expected?  It's a loaded question.  Or, is it?  In our corporate sales training experience, we've seen that evaluating underperforming salespeople in the pre-hire sales assessment is crucial for success in your business.

From poor diagnosis of the right contributing factors for success to other candidates being eliminated due to weaknesses rather than hiring on sales STRENGTHS, there are specific reasons that not all of your salespeople are performing the way that you thought they would.

Did you hire them this way or did you make them this way?  Let's take a look...

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If you are a sales leader and you look at your numbers and the people producing those numbers, do you ever scratch your head in confusion over why you are looking at a lack of sales results?

Certainly, you didn’t hire these people to be in the middle of the pack or at the tail end of the conga line, but that is right where they are.  I know you don’t believe you hired them that way, but it’s either that, or you made them that way.

Don’t get upset with me here.  The reality is that your team’s performance is a result of who you’ve hired or what you’ve done (or not done).

So, in general, why do so many salespeople fail to perform? I have detailed answers to that question that you will be hard pressed to find anywhere else besides right here.

  • Underperformers have 80% of the desire of top performers. *Note – not all performers have off-the-chart desire – that is about 7% of all top sales people.
  • Those that underperform have about 44% of the commitment to succeed in selling that top performers do.
  • These two factors combine to measure motivational level. Underperformers have about 60% of the motivation of your top people.

SUMMARY – Underperformers just are not as motivated to succeed.

SOLUTION – STOP hiring people that are not motivated to succeed at the highest level of performance!

Using the Objective Management Sales Evaluation, there are over 100 data points to measure the opportunity for sales growth of a sales team/organization.  Additionally, this data helps us to predict the likelihood of success of new sales people and managers. 

Here are some interesting findings based on the raw data I have from assessing salespeople (as well as firsthand knowledge of some of the people in the study).

  • Top performers are trainable and coachable
  • Top performers have a high figure-it-out factor
  • Top performers have a low need for approval and…
  • Top performers score an average of 86.8 (higher score is better) and underperformers score 39.6 for handling rejection!
  • Top performers are hunters, consultative sellers and closers (average score for skills is 55% of required skills while underperformers average 39.6% of required skills)

SUMMARY Salespeople – regardless of tenure or previous success - need training and coaching. Also top performers handle rejection extremely well and move on.

SOLUTION Do not hire based on past performance. (It’s like investing in a mutual fund – past performance is not a guarantee of future returns.)  During the interview process, reject the heck out of the candidate – the strong ones will recover and attempt to close you over and over again!

The following data indicates that sales strengths are better indicators of success rather than sales skills:

  • Underperformers have 85% of the sales skills of top performers and have…
  • Only 71% of the sales strengths that support execution of sales skills and…
  • The severity of their sales weaknesses are 52% higher than that of top performers

SUMMARY – The skills are about the same, but those with strong strengths of desire, commitment, outlook and responsibility win.

SOLUTION – Make sure your pre-hire assessment process looks for strengths and “will sell” rather than just skills, personality and behavioral traits.

So, back to the original question:   “Why do so many of my salespeople fail to perform as expected?”:

  • Poor diagnosis of the right contributing factors for success
  • Candidates eliminated due to weaknesses rather than hiring for sales strengths
  • Too much credit given to sales skills exhibited during interview process
  • Lack of solid training and development on the root causes of poor performance

Now that you have the answers to the question, what will you do about it?

Topics: Sales Management Training, hire better salespeople, consultative selling, creating new sales opportunities, sales productivity tools, sales effectiveness training, banking sales training, professional sales training, consultative sales coaching, corporate sales training, sales force performance management

Sales Coaching for the Sales Coaches

Posted by Tony Cole on Mon, Jul 08, 2019

In this article, we focus on Sales Coaching for Sales Coaches.  Often, in sales, the sales manager is not held to the same standards as those on the sales force.  While sales people are monitored on their calls, emails, CRM activity, and follow-up methodologies, the same cannot always be said for sales management.

To fix the problem, organizations must take action by understanding the exact qualifications and skills they are looking for in sales management, using the Objective Management Sales Manager assessment tool, and having the systems and processes in place to execute a Sales Managed Environment.athlete-baseball-boy-264337

When you Google "Sales Coaching", what you would most likely find is the following:

  • Sales Rep Coaching
  • Top 20 Sales Coaching Company
  • 30 Minute Free Consultation / Increase Sales by 56% of More
  • Sales Coaching Sales Coaching / Move the Needle with LevelJump

But this post is not about those things.  If you want information on how to effectively coach sales people go here:

Why is Selling So Damned Hard.

Instead, this is about coaching the coaches. Why would we focus on that you might ask?  Let me lean on my good friends at Objective Management Group and John Pattison for some BIG DATA information.  This is what they know, and by extension, what we know about successful sales management and successful sales organizations.

  • When you have an effective sales coach, sales grow annually at an average of 26%.
  • Only 18% of the 100,000+ sales managers assessed, have over 60% of the required skills to be effective at coaching.
  • A much smaller percentage spends at least 50% of their time coaching.

Let’s do the math – if you have 10 sales managers, about 2 of them will be effective at coaching.  If you are looking for a sales manager and interview 10 of them, only 2 of them will be effective at coaching.

THAT is why I am focusing on Sales Coaching for Sales Coaches.

So, how and why do sales managers end up in the role, and why do companies continue to fail massively in an effort to effectively build and execute a sales managed environment?  Here are the answers to those questions, and yes they are in order of likely answers:

  1. Career path – Most organizations promote sales people because that seems to be the logical career path for a successful sales person.
  2. Great sales skills – The ‘career path’ sales candidates have great skills! Those include persuasion, interviewing well, presenting well and negotiation.
  3. Candidates that have a ‘sales management’ resume impress Presidents, HR recruiters and hiring managers with great talk and expertise about performance management, sales metrics, the number of sales people they have hitting  sales goals, using CRM and pipeline management technology.
  4. Companies don’t invest time money or effort to train and develop people to be effective sales managers. They assume that they come wired for success. This is kind of buying Salesforce out of the box – it won’t do the things you need it to do without hiring a Salesforce consultant to customize and build out the tool.
  5. There is failure to hold sales managers to the same rigor of performance management and coaching that is expected of sales people. Sales people are required to report sales activities and enter opportunities into the CRM. With our clients, sales people are taken through a discussion about achieving extraordinary results and building a success formula to achieve that goal. Sales managers do not typically report on the number of:
    1. Joint calls conducted
    2. Pre and post-call debriefing sessions
    3. 1-on-1 sales skills and behavior improvement coaching sessions
    4. 1-on-1 sessions to review the business plan and update the success formula
    5. Prospect / recruiting meetings they had or networking events they attended to find new sales people
    6. Sales management classes enrolled in or books they’ve read to improve skills
    7. Data analysis reports they’ve run to determine how well the bottom 2/3 of the sales team is doing as compared to the top 2/3

To ‘Fix” the problem, organizations and current sales executives must do the following:

  1. Understand the exact qualifications and skills you are looking for in the role and hire / develop the talent that can execute the skills necessary to get those outcomes
  2. Make sure that you use the Objective Management Sales Manager assessment tool to determine if the candidate has the Will to Succeed in the role, the right Sales Management DNA, and enough of the Sales Management Competencies so that you don’t have a extend yourself and your team to develop what you should have hired
  3. Have a system and process in place that clearly outlines the necessary tools, systems and processes to execute a Sales Managed Environment:
    1. Performance management and developing an no excuse sales environment
    2. Coaching for Success
    3. Motivation that Works
    4. Upgrading the Sales Force
    5. Recruiting talented sales people

Topics: sales management skills, sales management success, Sales Management Training, hiring sales managers, sales management tools, responsibilities of sales manager, develop talent


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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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