Category Archives: Research Papers
Richardson’s annual research survey of field reps, senior sales professionals, and sales leaders across industries aims to paint a clear picture of existing sales challenges and how they are evolving. One of the study questions explored challenges sellers face in closing sales. We asked 350 sales professionals to tell us what would be their most difficult challenge in closing sales deals in 2017. Responders provided the following answers:
24% of respondents said competing against a low-cost provider would be their greatest challenge to closing sales deals in 2017 19% of respondents said positioning competing value propositions would be their greatest challenge to closing sales deals in 2017 16% of respondents said creating a compelling case for change to avoid a “no-decision” would be their greatest challenge to closing sales deals in 2017
While the top three challenges remain the same year to year, the percentages add color to the story. In 2016, “competing against a low-cost provider” took 47% of the responses, showing just how keenly this challenge was perceived. One year later, the ranking among all three challenges is more even, an indication that sellers realize the importance and interplay of several elements involved in closing deals. Creating a compelling case against stalled decisions or “no-decisions” takes understanding the customer’s buying cycle and helping customers sort through what matters most in order to find value among the options.
Richardson’s Closing Sales Deals Insights
In today’s information-rich environment, buyers have the » Continue Reading.
Selling has never been an easy profession. Sellers have always been faced with rising quotas, pricing pressures, new competitors or competitive technologies, and other roadblocks. But now, there are added degrees of complexity, with buyers just a web search away from answers they used to get from sales professionals.
The selling environment, the tools of the trade, and the sales cycle itself have been forever transformed by technology, globalization, and always-on connectivity. Yet, the foundational sales skills remain as relevant as they ever have been: preparation, needs dialogue, consultative selling, and so on.
Research: Aligning Learning and Development Initiatives with Sales Goals
Sales training and sales effectiveness have been a cornerstone of many company initiatives to grow profitable business, increase revenues, and drive efficiencies. What is needed now is for Learning and Development (L&D) to align the competencies of its sellers with the skills to succeed in dynamic environments. This involves the mastery of customer engagement strategies that are able to adapt to where each customer is along the path to closing a sale so sellers can participate in shaping opportunities and positioning their offerings accordingly.
Are companies currently setting up their sales personnel for success? Are they targeting sales competencies that reflect the 21st-century business landscape? To find answers, Training Industry Inc. and Richardson conducted a study in the fourth quarter of 2016: “Aligning Sales Competencies in Learning and Development.”
The confidential » Continue Reading.
Is your company setting up its sales personnel for success? Is it targeting sales competencies that reflect the 21st century business landscape? Our sales training research reveals some answers that might surprise you.
In Q4 of 2016, Richardson and Training Industry, Inc. partnered to perform new sales training research, surveying 288 companies across more than 14 industries that ranged in size from less than 100 to over 50,000 employees to examine organizations’ approaches to identifying and developing sales competencies.
The goal of this sales research project is to provide sales organizations and L&D professionals with insight to help them develop sales training programs that better align with the goal of helping sales professionals master the competencies that are most important for business success.
Sales Training Research Results
The study found that there are significant gaps between the sales competencies reported to be most important for business success and the competencies that are effectively developed through training. Specifically, the research suggests a widespread gap in the effectiveness of training for the following competencies:
Targeting buyers Prospecting opportunities Knowing the market Understanding customer needs Effective presentation skills Expanding current accounts
Potential causes of this gap are a mismatch between training goals and business goals and lack of consistency in training across departments.
Additional Research Findings
This research also offers insight » Continue Reading.
Richardson in partnership with Training Industry, Inc., has launched a new Sales Coaching research study, Best Practices in Sales Coaching Across the Workforce. The complimentary research report is available for download by clicking here.
Richardson and Training Industry, Inc. conducted a comprehensive study on how organizations across industries are supporting sales coaching. The study focuses on how effective coaching programs create leadership alignment, build communication plans, and develop measurement strategies for their learning programs.
Companies that participated in the study completed a survey reporting their companies’ use of coaching programs in support of sales personnel. The research report outlines the key findings from the study, and based on the results, recommends seven best practices for implementing a successful sales coaching program.
By comparing effective and non-effective coaching programs, the study provides key best practices around sales coaching structure, coaching cadence, and coaching roles and responsibilities. In addition, the survey takes a look at generational influences on coaching and how successful coaching programs adapt to generational shifts in their workforce. The research study helps to define coaching best practices in effective sales organizations. In addition, the research also illustrates how vital it is for sales coaches to interact with their teams in a way that emphasizes their sales team member’s strengths and performance, as well as provides advice and on-the-job learning.
Click here, or on the image below, to download the report.
Social Selling? Negotiating price concessions? Growing existing accounts? What are some of the biggest challenges facing sales professionals in our uncertain business environment? Richardson has the answers!
We are very excited to release The 2016 Richardson Selling Challenges Research Study. We surveyed over 400 field sales reps, senior sales professionals, and sales leaders and asked them to identify some of the major hurdles they are, and will be facing, in the year ahead that will impede them from achieving their goals and objectives.
The report will provide you with insight into some of the challenges sales professionals are trying to manage around prospecting into new accounts, identifying client needs, negotiating deals, managing accounts, and expanding relationships. This report will also provide you with some helpful tips on how to navigate these rough waters.
Richardson will also be developing additional articles from this this data based on a number of responder characteristics such as role, tenure, and industry. If you would like an industry specific version, please contact us at email@example.com to discuss your potential options.
Please click here to download this complimentary report.
Just a quick reminder that our research survey on Teamwork in Selling will be closing on Friday, October 23rd at 4:00 est.
We are very interested in your feedback on this topic so please click here to complete this short survey. After completing the survey, you will have a chance to enter your contact information to receive a copy of the report, and to become eligible to win a Nike Fuelband.
Richardson is completing a research project on teamwork in selling, and we are interested in your views. Please click here to complete this ten-minute survey. After completing the survey, you will have a chance to enter your contact information to receive a copy of the report, and to become eligible to win a Nike Fitbit.
Thank you, in advance, for your interest and participation in this survey.
Survey Link – http://hubs.ly/H019W9_0
2015 Sales Challenges
Richardson is conducting a research project on the 2015 Sales Challenges that you feel you may be facing in the upcoming year. Please click on the link below to participate in this short survey. Your input is critical to the success of the study and we appreciate your time and honesty in responding to the questions.
If you are not currently a sales representative or sales manager, we would appreciate if you could forward this e-mail to your sales team to complete. For submitting the survey, you will receive a free copy of the final report and become eligible to win a new Nike Fuel Band.
Thank you in advance for your consideration.