Monthly Archives: January 2018
Competition in sales continues to escalate. In response, more businesses are renewing their focus on sales performance initiatives. However, these directives leave little time for the most critical step: measurement. Even the best sales performance intentions will fall flat without measurement.
After decades of working with sales organizations across industries, we’ve determined a core group of eight sales metrics. These measurements are critical for getting an actionable read on how they’re performing as an organization, which is driven, in part, by sales performance initiatives. Some organizations will only need to use a few of these. Others may need them all. Here, we take a closer look at how each one works and why they matter.
Win Rate: A team or company’s win rate serves as the primary indicator of market competitiveness. As an all-encompassing measurement, the number is easy to track and easy to baseline. This is a simple gauge of how many new pursuits close with a win status. However, win rates should not be viewed in isolation because the measurement is often a starting point, telling leaders where else to look for clues on business performance. Quota Attainment: When leaders want to compare performance with expectations, they turn to quota attainment as a measurement. This qualitative number answers, “What percent of the sales team is meeting their goal?” This figure serves to judge performance against expectations and is a function of how all initiatives are operating. Time to Productivity: Like a » Continue Reading.
Sales leaders and business leaders are constantly chasing more business opportunities in the race to reach their number. However, more selling isn’t the only answer. Some are discovering that smarter selling can accomplish more. With sharper negotiation skills, sellers can preserve or even increase margins of the sales that they earn in order to make each closing count.
Effective negotiating occurs throughout the selling process. Sellers do this by shaping the customer’s perception of value and working to understand their needs. The result is a mutually beneficial outcome that allows for future business. Here, we look at a few specific negotiating skills that sellers can develop in order to increase the margins of their sales.
Six Negotiation Skills That Increase Margins “Prime” the Negotiation with Preparation
In any selling environment, the customer is likely to link their impression of the seller with their perceived value of the product or solution. For this reason, the seller must be prepared to illustrate their value by delivering industry-relevant insights.
This approach helps to “prime” the conversation, prompting the customer to see the seller in a positive light. As a result, trust develops at an early stage, creating an environment that’s conducive to successful negotiations.
The reason: trust signals fairness. Research published in Psychology & Marketing echoes this fact, noting that “priming a consideration for fairness, a seller can increase a customer’s satisfaction without sacrificing profit.” » Continue Reading.
Join Richardson and AA-ISP as we kick off the New Year with a complimentary webinar, Volume Doesn’t Equal Value: Unlock the Potential of Inside Sales with Consultative Telephone Selling.
Inside Sales is quickly becoming the engine of growth for businesses today. Advancements in sales and marketing automation mean that sellers can reach more customers in less time. However, volume doesn’t equal value. Winning the sale still requires compelling solutions that connect with deeper customer needs.
The webinar topics will include:
How to add value to customers by identifying and pursuing cross selling opportunities How to inspire action from customers in order to close the business or advance the sale How to use active listening in order to get a clearer read on the customer’s needs How to prepare in a systematic and efficient manner with a clear sales objective for each call How to demonstrate credibility quickly and connect with customers in order to engage in a meaningful dialogue
The webinar will take place on January 11th at 2:00 p.m. EST. If you are interested in attending or think that your colleagues may be interested, you can register here.
We hope that you’ll join us.