Viewing Posts for: Richardson Sales Training
As we’ve discussed in previous posts, overcoming the status quo is a central challenge for sales professionals. Part of this problem stems from diffused decision-making across an increasing number of stakeholders. Additionally, as competition rises, businesses need greater assurance of the ROI of a proposed solution. The barriers are significant. Overcoming them requires a strong start. Effective sellers do so by leveraging referrals.
Optimism runs high in American businesses. In fact, optimism among small businesses at the end of 2017 surged to their highest levels in more than 34 years. This sentiment is shared among mid-sized companies as well. A staggering 80 percent of those surveyed said they were optimistic, a 39 percent increase over 2016.
Excellence in Team Selling is critical to success for commercial selling organizations today. Customers bring more stakeholders to the table and expect to meet more than just the salesperson before making a commitment. To manage these moments effectively, salespeople need to ensure that all players are operating at peak performance – individually and as a unit- in those high-stakes meetings.
What happened to competitive advantage? There was a time when each business had one. Some had many. However, today, that seems to be disappearing. In 2009 The Harvard Business Review called competitive advantage “fleeting,” and less than six years later Wired called it “dead.” However, the disappearance of competitive advantages is motivating businesses to take a bold, innovative approach.
Information is more available today than ever before. However, if this is the case, why are sales professionals experiencing increasing difficulty when it comes to uncovering the buyer’s decision-making process.
Here’s the answer:
Increasingly complex business needs are outpacing the sales professional’s capacity for determining decision processes. These multifaceted problems involve a growing number of stakeholders. Moreover, these challenges change fast as competitive pressures rise. This “enterprise entropy” is characterized by a central challenge that becomes diffused across an organization as more people weigh in on how to move forward.
During the tech boom of the 1990s Fortune 500 companies and behemoths of Silicone Valley were famous for challenging interviewees with puzzle questions. The candidate might be faced with a brain teaser like “how many times a day do a clock’s hands overlap,” or, “why are manhole covers round?” The most infamous of these questions was “how would you move Mount Fuji?”
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.
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.