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Transcript of Top sales performance
HartMagneet
Top Sales Performance The Key Factors to Success
Author: Ron Jacobs Date: 10 February 2012Version: 1.0
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..
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.
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.
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..
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.
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
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
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
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.
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.
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.
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.
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.
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.
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
THANKS
The Power of HartMagneet