In our work with leading sales organizations, we have certainly seen a change in the buying landscape. Today’s buyers are more sophisticated, have more data available, and often have already defined a solution before ever involving a salesperson. This has created a real challenge for sales organizations and reps. Techniques and methodologies that worked twenty years ago do not necessarily work now. As buyers change, sellers too must change — but how?
Fewer than 10% of organizations properly translate sales strategy into action, and many make no attempt at all to do this. Some people refer to this as the ability to close the “knowing-doing gap.” I know what I’m supposed to do, but I don’t know how or lack the discipline to change.
The financial services industry has faced incredible challenges over the past few years. All in all, the nation’s banks are getting healthier, and the worst seems to be behind them — but they’re all struggling to find new sources of revenue amid a tougher regulatory environment.
One of your strategic accounts is at risk. Do you know how to act fast to neutralize the threat before you lose your customer?
In my last post, I discussed the importance of strategic accounts and shared five critical signs that a key account may be in trouble. Here are five of the best strategies we’ve seen work with our customers to preserve at-risk strategic accounts and the essential revenue they generate — before it’s too late.
You depend on strategic accounts to deliver critical revenue — are you paying attention for signs that those valuable customers may be at risk?
Some say that strategic accounts follow the 80/20 rule — as in, 20% of an organization’s customers account for 80% of its business. Others calculate that 5% of your customer base provides 50% of your revenue. Regardless of the exact percentage, as a sales leader, you know your strategic accounts are critical to meeting forecasts and exceeding quotas.
When you view a key strategic account from your customer’s perspective, you find more ways to help significantly enhance the customer’s performance. Join Richardson’s SVP, Andrea Grodnitzky in this short video where she looks at the importance of linking your solutions to your customer’s goals and objectives and challenging issues. Learn more about Richardson’s sales training solutions at http://www.richardson.com
Once upon a time, a savvy sales leader hired a sales training organization to improve his team’s sales performance. His reps learned all the newest sales methods available, and they were all convinced they’d knock their sales quotas straight out of the park for years and year to come.
But then it came time to apply what they’d learned. Sales performance levels stagnated. Quotas weren’t met. Reps either didn’t change, or changed briefly and then reverted to the old way of doing things.
By Jim Brodo, SVP Marketing
Using social selling in the sales process to accelerate revenue is a hot topic, but it requires an expert balance of art and science. It also greatly depends on your stage of the sales process.
How effective are you at selecting the right tools and using them at the right time in the sales process — in a way that delivers value to your prospects, your company, and your customers?