Top sales performance

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HartMagneet Top Sales Performance The Key Factors to Success Author: Ron Jacobs Date: 10 February 2012 Version: 1.0

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The Six Key Succes Factors

Transcript of Top sales performance

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HartMagneet

Top Sales Performance The Key Factors to Success

Author: Ron Jacobs Date: 10 February 2012Version: 1.0

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Source: 2011 - Research findings conducted by Nightingale Conant. 2,663 sales organization from the USA and Europe

This presentation outlines the six common Success Factors which leads to Top Sales Performances…

… and reveals how HartMagneet helps to unleash the maximum talent of your sales team…

.. and how to ignite the synergy in the whole system to create a difference that makes the Difference.

The outline..

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The landscape

Source: 2011 - Research findings conducted by Nightingale Conant. 2,663 sales organization from the USA and Europe

1. Sales is the lifeblood of any company

2. Million of dollars have been spent to let the sales grow.

3. However just a few companies have been able to grow their sales steadily, not just in good times

4. Most Sales leaders don’t believe anymore in the classical Command and Control approach.

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Research with Sales Leaders shows us…

Source: 2011 - Research findings conducted by Nightingale Conant. 2,663 sales organization from the USA and Europe

Peak performers are more balanced in the different stages of the sales cycle. In particular during the Prospecting stage they outshine.

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And….

….

Source: 2011 - Research findings conducted by Nightingale Conant. 2,663 sales organization from the USA and Europe

We invest a lot about Consultative selling but not utilizing the power of it. And we are busy with a lot of other things..

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The Key to Top Sales Performance

Most sales leaders grasp the concept of activity management, skills development and knowledge development, which for sure are important.

Intuitively, Sales leaders also understand the vital importance of the right mindset, tackles the self-limiting beliefs and turn the negative beliefs into positive,

Those leaders who embrace and balance both approaches will found an unbeatable path to success.

HartMagneet has defined six common Key Success Factors based on seventeen years best practice experience in Sales, extensive research and professional intuitional expertise.

We support companies to define, to build and to execute on this path to success.

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The Six Key Success Factors (KSF)

1. Put the Customer always First

2. Well defined Sales Process

3. Master Skills set

4. Focus on Salespeople’s Activity

5. Resolve negative mindset and Self-limiting Beliefs

6. Good Sales Leadership

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KSF 1 Put the customer always first

Issues• Salespeople have often more attention for what’s it for me? instead

what’s it for my customer? Incentives, career.• Go to market models contains conflicting situations• Too many products, too many incentives programs, too many solution

sets, conflicting situations causing a lot of confusing internally as well as externally.

• Too munch focus on the sales process and what the management will think about the progress.

• Compensation models influence the behavior of the sales people which doesn’t mean there are in line with the customer expectations.

Creating Customer value starts with listening with an open mind to your customers.

Solutions• Invest in joined value creation shops with your customers• Get deeper insight in the connection with your customer. Look to implicit

aspects as well, like attention, trust, service minded, perception.• Build end user propositions for different audiences and responsibility

levels: strategic, tactical and operational

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KSF 2 Well Defined Sales Process

Issues• Far too often salespeople focus on the quickest and biggest win without

a well develop plan. They are dancing around.• A lack of plan is often fatal. Research from PLC shows that 60% of

clients buys after 5 No’s. Yet 44% of salespeople gives up after the first No. 22% After second and 14% after third.

• If the effort don’t pay off quickly enough they get discouraged

A discouraged sales force, diminished sales efficiency consequently increased cost of sale.

Before a process can be managed, it must be manageable.

Solutions• Developing a consultative sales process. Formal, realistic and step-by-

step outline of what sales people are expected to do. • Monitor the activities. Asses problems. Redirect individual sales

representatives effort efficiently • Overcome implementation Inertia.• Involving customers• Identifying best practices• A Sales process provides a foundation for competency development

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KSF 3 Master Skills Set

Issues• The war for talent. Great people will work for companies who invest

significant in skills development.• Current stock market ethos creates a powerful disincentive to invest in

their people.• Difficult times, cut back on training.• Training most often a one-off shot with too much theoretical focus.• Though climate demands a far wider range of skills than ever before.

Selling these days is both an art and a science.

Solutions• Invest more in coaching, mentoring and training on the job.• Less training with higher expectations.• Ongoing Reinforcement, Continual is the key word.

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KSF 4 Focus on Salespeople’s Activity

Issues• To pitfalls in terms of salespeople activity. First, they simply aren’t doing

enough. Enough calls, face-2-face meeting, etc.• Secondly poor quality activity. They spend to less time on qualifications.• How to divide their time between servicing existing customers and

generating new business.• Harder rather than Smarter• Speed of relaying customer information, often very inefficient.• Managing existing customer, salespeople loss attention. Called the

Relationship gab.

A common approach among sales today is ‘Spray and Pray’.

Solutions• In general the more focus sales activities the greater number of

opportunities they create.• Vitally important is managing existing customers to consolidate and

grow the relationship. Pareto’s 80/20 rule. 80% sales generate from 20% of the customers.

• No rating will keeps sales waiting. Priorities prospects.• Questions are the answers. Five qualification questions for sales

leaders to manage effectively salespeople’s activities.

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KSF 5 Resolve Negative Mind set

Issues• Lack in believe in themselves, their product, the company vision, they

unconsciously transmit their attitude to prospects.• A downward spiral. Salespeople who believe that if they had cheaper

prices, they would win more deals, tend to attract more price objections.• Call Reluctance. Study found out that 40% of experienced sales people

had severe reluctance to threaten their livelihood in sales.• Feeling powerless. Many sales leaders grabs the concept of activity

management and finding difficulties to tackle the negative beliefs of their sales people.

Research show that when these limiting believes are eliminated, sales increased by approximately 25%.

Solutions• Beliefs do change. • Peer groups can exert positive pressure. Find an individual with an

empowering belief and share with the rest.• Challenging limiting beliefs. • Building self worth. Invest in Self-esteem. Salespeople really need to

believe in their own product.

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KSF 6 Good Sales Leadership

Issues• Some companies promoting there number one sales person.• Insufficient time for sales team development. Too much focus on the

sales result.• Lack of skills and resources. It then becomes easier not to bother.• An overwhelmed manager. Most sales teams consist of number of

individuals with different levels of expertise. So the whole issue of developing the team becomes too daunting.

• Setting a bad example. Falling behind on sales. First reaction is to drop the price.

Good Sales leaders are able to demonstrate an ability to help others strategize, work effectively with customers and build sales self confidence.

Solutions• Providing development for sales managers• Providing resources to motivate development sessions• A strong coaching culture. • Development resource are easy to use, are to designed to appeal and

to engage sales people regardless their experience level.• Resources are available manageable pieces so the team can absorb

and actually implement new ideas.

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4 steps approach to Success

Step 1 - Diagnose current situation in relation to the six KSF’s.

Step 2 - Define improvement areas

Step 3 - Build a improvement plan

Step 4 - Execute using the six stages of change.

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The six Stages of Change

Stage 1 - Loss to SafetyAdmit that regardless of whether or not you perceive the change good or bad there will be a sense of loss of what was.

Stage 2 - Doubt to RealityYou struggle to believe that the change is valid.

Stage 3 – Discomfort to MotivationThe change and all it means has become clear. Frustration takes rules until possibilities takes over.

The danger zoneImportant place you make the choice to really discover the possibilities of the change. You are optimistic about a good outcome.

Stage 4 - DiscoverDiscover the light at the tunnel. Perspective, anticipation and a willingness to make decisions gives a new sense of hope and control

Stage 5 - UnderstandingYou understand the change and are more confident, and the behavior is more productive.

Stage 6 - IntegrationYou have regained your ability and willingness to be flexible. You have insights into ramifications, consequences and reward of change.

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In conclusion

• Sales, in particular prospecting is the life blood of your company.

• Success in not a coincidence. Six KSF’s.

• Intuitively Sales is of vital importance.

• Tackling self limiting beliefs will unleash the maximum talent of your sales people

• HartMagneet helps on the path to success

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THANKS

The Power of HartMagneet