ACTG Sales Management Blog

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The 19 Keys to Selling Success

Posted by Alex Cole on Fri, Jan 04, 2019

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2018 was a great year here at ACTG and we are excited to wish you a Happy 2019!

However, the new year can be a bit overwhelming, don't you think? 

It's a new year filled with new quotas, new clients, new goals and so much more.

So, we decided to interview our Sales Development Experts here at ACTG with their keys to selling success this year and beyond.  What were they? 

Check out all 19 below!

  1. Stop worrying about selling and focus on helping.  Stop offering to come by and visit the prospect and instead ask “would you find it helpful if….”  Ask prospects what you can do to help them without regard for whether or not there is a sale involved. It is why the 3-step inoffensive close ends with:  Do you think I understand your problem? Do you think my firm can help you solve your problem? Do you want my help?
  2. Persistence. Stay with it whether it is making calls, following up or following through. What we know is 80% of sales are made between the 5-12 outreach to a prospect so persistence to win business is crucial.
  3. Be committed to doing what it takes. Often times, one of the reasons salespeople struggle to see great sales success is because they aren’t as committed as they need to be. Be willing to try and do whatever it takes, even when you are uncomfortable.
  4. Every exit is an entry somewhere else. Don’t give up or be let down just because someone said no – maybe they can help you with a referral or you’ll land a client with that next phone call or meeting after the discouragement.
  5. Have a non-negotiable extraordinary sales goal that you are committed to reaching. Most salespeople focus on just hitting their year-end goal, not exceeding it. When you strive towards an extraordinary goal (roughly 20% above your year-end goal), and that’s your only focus, even if you don’t hit it, you will likely meet or exceed your company goal.
  6. Be OK with “no”.  It frees up the conversation and lowers the walls of resistance when the prospect knows that it is OK for them to say “no.”  There are three different parts in the sales process where the salesperson should be letting the prospect know it is OK to say “no”: (1) on the phone setting up the first appointment, (2) at the last meeting before the proposal is delivered and then finally (3) at the meeting where the proposal will be shared.
  7. Be coachable and vulnerable. In other words, be willing to admit there is a lot that you don’t know and always ask for help.
  8. Be a giver. Support your internal partners as they prepare for conversations and presentations. Make sure that your ‘selling’ is all about asking great questions and listening to understand so that you can help your clients grow (vs sell them something).
  9. Have an attitude of success. Selling can feel like a solitary pursuit and you need to believe you will get there. Half the battle of success in sales is owning your own style and having faith in your skills, knowledge and abilities. If you believe you will win, your likelihood of winning increases substantially.
  10. Be resilient and tenacious.  Don’t let prospects squash you with think it overs, stalls, objections and “no’s”. There is always another door to try- it’s just about asking the right questions of the right person at the right time.
  11. Do the work. Selling is hard work and cannot all be done sitting at a computer. Get out and meet with current clients to leverage the relationship and ask for introductions. Also, attend networking events to meet different experts in your or target industries.
  12. Have a sense of urgency. Send the follow-up email the first time you think of it. Make the return phone call when you first get the message. Work when your competition isn’t.
  13. Don’t get in your own way. Eliminate roadblocks and excuses from your head space. Don’t let the anxiety of being turned away keep you from picking up the phone. Don’t allow internal “noise” interrupt what you get paid to do- which is hunt, qualify and close business.
  14. Properly build bonding and rapport. To many, bonding and rapport means liking the same sports team, enjoying the same weekend activity or frequenting the same restaurant as a prospect. To us, bonding and rapport means proving you deserve a seat at the table. Your proved benefit and value are more critical to developing trust and relationships than similar taste in food. Ask your prospect what the key challenges for their business and industry are for the year or what is in the way of their growth.
  15. Stick to the schedule. Different things can get in your way daily- emails, internal meetings, proposals, etc. Highly successful salespeople build and stick to a time blocking schedule religiously. Identify what your key activities are, when the best time is to do these activities and build a schedule you can live by.
  16. Utilize social networks. LinkedIn can be your best fishing net and your best safety net. Use social networking sites like LinkedIn to make connections and develop relationships, as well as explore new opportunities.
  17. Constantly focus on developing yourself as an industry expert. Continue to educate yourself on new trends, the changes in your market and developing different techniques. This will help you stay relevant in your space and position yourself as a leading professional.
  18. Don’t get happy ears. Don’t let soft buying signals like “This looks great. It makes a lot of sense. I’m interested” rush your process. Keep a level head and really drill down with your qualifying questions to identify if a prospect is really interested or just blowing smoke.
  19. Don’t forget to celebrate the successes. It’s difficult to win these days so don’t forget to enjoy those moments- no matter how big or small. Every sale gets you one step close to hitting your personal and professional goals.

We hope this helps you achieve greater sales success in this coming year! Successful selling in 2019 from your friends and partners at Anthony Cole Training Group.  Call us if you need help!

 

Topics: Selling Success, 19 keys to selling success, reaching sales goals, setting goals, setting sales goals, sales advice, goal setting

Pipeline Management – Why Monitor If You’re Not Going To Fix It? 5 Steps to fixing instead of just monitoring.

Posted by Tony Cole on Fri, Nov 17, 2017

My wife Linda and I were recently in Columbia Maryland visiting family. While having a mid-afternoon lunch at Clyde’s I happen to see a “LifeLock” commercial on the bar TV. All I caught was the following caption:

“Why Monitor If You're Not Going to Fix It”?

Forbes contribution editor, Will Burns, writes about the absurdity the Lifelock ads point out. He even does us the favor of including the Dentist, Robbery and Pest Control ads in his article.

Many companies, probably including yours, have for many years monitored pipeline opportunities. The idea is to have information about the opportunities being created by the sales team. Companies want to know: 

  • What stage in the sales process is the opportunity
  • What the next steps are to move the opportunity through the pipeline
  • The likelihood of winning the business based on a probability % either calculated or assumed based on the sales stages
  • The future sales revenue of all the opportunities in the pipeline.

There are normally at least three problems with the use of CRMs and pipeline management:

  1. Validity - The true accuracy (validity) of the predictive nature of the CRM is dependent upon making sure that a milestone centric sales process has been mapped and made to be part of the CRM being used.
  2. Credibility – Even if you have the right sales process mapped and documented there is still the element of GIGO – Garbage In, Garbage Out. If your sales team is entering opportunities into the pipeline to keep management off of their back and assuming that the opportunities have met the criteria for each step in the sales process then you still have a predictive problem with your pipeline.
  3. Lack of helpful business intelligence – It’s one thing to enter data and get raw numbers of what has happened and what we think will happen. It’s another thing to build your CRM so that you get reporting that tells you how sales people are performing against the sales success formula developed for each individual. Without comparative data then truly all a company or manager is doing is monitoring activity without identifying if in fact there are any problems.

What a company should be looking for, so that it’s in a position to ‘fix it’, are critical numbers and ratios so that a sales manager can clearly and more accurately identify choke points in the sales process for each individual.  Additionally the data can and should tell the manager and the organization if training and coaching is required or if the current training and coaching is having the intended impact: Improving the effectiveness and results of the sales team. 

Let’s assume the following sales effort and effectiveness performance model: 

Action Plan.png

  •  The sales person that is failing to hit sales targets is supposed to:
    • Create 10 new leads a month
    • Convert 50% of those into opportunities
    • Convert 50% of those into presentations
    • And get 50% of those presentations to turn into sold business
    • Additionally the average size sales is supposed to be $10,000.00 
  • Lets assume the following actual sales effort and effectiveness:
    • 9 new leads are being created but we don’t know why 9 instead of 10?
    • 50% of leads are being converted to opportunities
    • 50% of those opportunities are leading to presentations (but keep in mind over time there will only be 90% of the planned for opportunities because of failure to hit the lead goal)
    • 45% of the presentations turn into sold business instead of 50%
    • And, the average size sale is $9,000.00 instead of $10,000.00

If this is monitored and NOT ADDRESSED/FIXED then this sales person will be short of their goal in access of 25%. This will be a gradual event because unless the CRM is built to provide this information pro-actively no one will notice. No one will notice because the numbers are either: Not being monitored. Not being addressed because they are ‘close enough’ (9 instead of 10. Management sees this as being 1 off of target rather than 10% off target). Or, the coaching to fix the problem falls into the category of ‘do more’ instead of let’s coach you on how to do ‘better’.

Does any of this look or sound familiar? It may not especially if you have enough of the right people (about 33% of your sales group) doing enough of the right things. With 33% of the team carrying the load you will still end up with about 90% of your goal and all you need is a few of the remaining 67% of the team to contribute something to the production number. You will be close enough.

“Fixing” it has to be part of the investment when investing in sales enablement tools, systems and technology. Fixing the problem requires the following 5 steps:

  1. Building a milestone centric sales process that is part of the CRM
  2. Creating sales success formulas for each sales person based on their historical actual performance and agreed to sales goals
  3. Timely monitoring and updating of sales effort and sales execution data so that you can ‘catch them early’ in real time when their performance is a negative variance from the plan
  4. Using the data to develop intentional coaching strategies to help your sales people deal with the specific challenges they are having in either effort or execution. No more ‘run faster’ coaching
  5. Use metrics to determine your success:
    • % of sales people hitting effort target increases to 100%
    • % of people hitting conversion ratios improves
    • Production from each of the sales team segments (1/5s) improves year over year
    • The 80/20 rule starts to shift to a 70/30 > 60/40 rule
    • Validity and credibility in your pipeline prediction improves
    • Adaption of your CRM is at 100%

Call To Action: 

Request a 30 minute live Emergency Pipeline Analysis Session to evaluate current opportunities in your pipeline. What you will get/learn.

  • Complete instruction on how to more effectively evaluate the validity and credibility of your pipeline opportunities
  • How to more effectively identify choke points in the sales process
  • A method of intentional coaching to improve the probability of closing current opportunities.

Email:  tony@anthonycoletraining.com

Subject Line: EPAS Demo

 

Topics: Pipeline management, increase pipeline, setting sales goals

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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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