Posted by admin on June 2nd, 2010 — Posted in House Of Software, Sales Techniques
I have started working on spread sheets and charts on Microsoft Excel. This is not at all easy. It’s ever so complicated, when surely it looks as if it could be so easy! I just need to lay some grid here and a few diagram there, add a few figures and deduct a few from them. I have been working hard for this, I tried to get help from ‘Microsoft Office Excel Assist (F1)’ however nothing much occurred. Therefore I searched on-line for excel help moreover it was obvious there was a huge number of results there. See, I do not know if this is good or bad with reference to google. Receiving so many results on a topic, it gets very diluted, you not at all know which one is of more help. Information overload or what? Besides, I tried a number of manuals as well as FAQ’s but I wanted what appeared like simple answers, but apparently not simple enough to find within the guides. Then I got to learn about helpline.com experts who offer a premium rate phone service where you get connected to a representative in UK, that can answer to all of the queries you’ve got regarding the pc on the phone. Yea, it is slightly costly but it’s well value the cost once you think of the time as well as energy you save versus trawling the hundreds of webpages value of user insturction books and manuals. If Microsoft offers this service then it is going to be superb, however unfortunately they don’t. The consultants in helpline.com were absolutely trained professionals who guided me through every step as well as were capable of reply all my doubts, guiding me not to make similar mistakes in future.Thanks to the specialists in helpline.com who trained me how to utilize Excel in most of the areas. Now, I can construct graphs as well as grids and I additionally know how to use the equation function, wherein you just type a number or integer into the equation and Excel carries out the function for you. All of this cost me £15 also I was finished in just 10 minutes. These are probably the greatest £15 I’ve ever spent, as I’ve proper knowledge of the application and I don’t waste half the day determining the right way to do stuff.Hence, I show gratitude to the helpline.com experts. Thanks !
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Posted by admin on July 30th, 2009 — Posted in Collectibles, Market Patrons, Sales Techniques
Becoming an Expert
It is not a difficult task to master the finer points for playing a professional game; provided you must have the urge to learn new things. If you can watch the playing patterns and the styles of any famous basketball player then it will be highly beneficial for you to improve your game. With this, eventually you will begin understanding the tricks and treats of basketball sans any professional help. But the only drawback is that interpreting the game depends entirely on how you see it and it is an undeniable fact that at times it becomes difficult without guidance. If you are serious about the game or need to master it within a shorter period then it will be prudent if you find a good basketball coach.
Why You Need a Coach?
Certain individuals will be particular about learning the basics and the game in a well-organized and professional manner; this is when finding the right coach becomes a must. Apart from this, a coach will help you understand the various key factors involved in the game such as the rules, basketball uniforms, and much more. As far as your basketball uniforms are concerned, you can get the best ones from the online store called Gordon International.
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Posted by admin on March 19th, 2009 — Posted in Enterprise, Living With Investment, Sales Techniques
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Posted by admin on July 14th, 2008 — Posted in Sales Techniques
Ask yourself a question. What business are you loyal to and why? When I have asked this simple question to thousands of my students, I hear statements like: “They remember my name”, “They listen”. “They know what I want and need”, “They go the extra mile”. Not a single person has said “They had the lowest price!” Amazing isn’t it?
It would seem from this informal survey that the key to loyal and repeat customers who recommend you to their friends and family is NOT the lowest price. Why as sales people do we spend so much energy in the “lowest price” game? Because that is what it is…A game. The customer comes in and says “Give me your lowest price!” And if you fall into their game plan they have derailed you from your real job which is to build value.
Think about it…If you offer the “lowest price” isn’t there somebody somewhere that can offer a LOWER price? Probably. And there is no way to win with a price shopper. They will leave you the minute that someone else offers a lower price.
Customers play the price game because they don’t want to feel stupid. Nothing is more upsetting to a customer than the thought (or the reality) of someone savvier at negotiating, getting a lower price. If your price is “negotiable” than customers feel the need to protect themselves by demanding the lowest price.
So start building value in your business, in your product and most importantly in doing business with you. Find out what your customer needs. Really listen to them. They don’t need the lowest price! They do need a fair price! And they need value.
But before you start “selling” you find out more about who they are, what they need, what is important to them. If you are not spending time upfront asking open questions, you are going to miss the mark in finding out what your customer’s hot buttons are. One of the biggest mistakes salespeople make is selling the same features and benefits to everyone. The more tailored your presentation to your customers wants and needs the more leverage you have in the price game.
The other opportunity sales people have in presenting value is the value that they get from you. Show them what they get when they buy “you”. What services are you able to provide that sets you apart? Give them the kind of service that they can brag to their friends about: “My sales consultant makes my service appointments for me! I don’t ever have wait for the service advisor to get to me!” My sales consultant set up my TV for me without an extra charge!” “My insurance sales consultant remembers my birthday with a hand written card.”
If you build value in your place of business, your product and most importantly in doing business with you, you can win the price game eight out of ten times.
And remember everyone loses when you play the price game. Everyone wins when you build value!
Laurie Brown is an international speaker, trainer and consultant who works to help people improve their sales, service and presentation skills. She is the author of The Teleprompter Manual, for Executives, Politicians, Broadcasters and Speakers. Laurie can be contacted through http://www.thedifference.net, or 1-877.999.3433, or at lauriebrown@thedifference.net.
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Posted by admin on April 8th, 2008 — Posted in Sales Techniques
The heart of any successful business is a successful sales force. You can have the best innovation, technology, product, marketing, operations and customer services, but if you do not have an excellent sales force, all the rest quickly becomes overhead. While every sales force organization is different, there are certain key elements that different the average sales teams - no matter how small or how big - from the excellent ones.
Training. The best sales forces spend considerable time training new people. They must know more about the product they are selling than anyone in the organization. They must be able to answer any question. And training is not just up front for the new people. Training is on-going. No just with new products and offers, but in sales skills, all aspects of your company and about the competition (more on that later). Training is essential to sales excellence.
Territory. There is no one right answer to how sales forces should be organized and what territory model works best. By industry? By geography? By account? The bigger the company, the more complex the territory models are. The model that seems to work best is that small and medium sized accounts are split on a geographic basis. Then the largest (or named) accounts are on a national or even global basis. In that the largest accounts require the most “hand holding” and have the longest sales cycles, it does not make sense to align these accounts geographically.
Sales force retention. This point is a bit of chicken and egg. Successful sales people should be compensated in such a way that they will next want to move on or quit what they are doing for a company. Low turnover of the top sales people is essential. But low turnover is essential for all accounts. Most sales are based on relationships and knowledge of the product or offer. New sales people may not have the relationships or the knowledge of the company’s specific products and offers. Clearly, poor performer must go. But the successful sales people - and even those who are not at the top but achieve their quotas are essential to retain.
Face time. The value of a sales person is on the phone or face to face with customers. The more time a sales person is doing paperwork or involved in back office processes not related to either training or customers is sales time wasted. Sales people need to spend the great majority of their time either interacting with a potential customer, a current customer or in training to have sales excellence.
Easy to do business. It is amazing how companies make it nearly impossible for sales people to do their jobs. To achieve sales excellence, a company must develop processes that make it as easy for sales people to turn their relationship into a sales through a contract and then for that to be fulfilled through an efficient order process. The more paperwork the sales person has to do, the less effective they will be. Additionally, the more support the sales person has to provide back into the company on behalf of the customer for the contract or order fulfillment, the less time they are spending generating more sales and revenue. Think about the value of the sales people in your organization and how they are actually spending their time.
Sales centric model. Businesses that do all they can across the organization to support the success of the sales people generate more revenue and grow. Whether it is R&D, product management, marketing or customer service, all functions should be aware that nothing is more important that to make the sales team successful. And this should be tied into their individual and team objectives too.
Leadership. There is an old adage about the best sales people not making the best sales managers. This is often true. But the fact is that the first choice for sales management should be people who have been effective in sales. This may not be the number one sales person. But having the combination of sales experience plus leadership and management skills are combinations that are critical for sales team success.
Business intelligence. Whether it exists in marketing or elsewhere in a company, someone should be responsible for business intelligence. Just as in the military and the government there is need to keep an eye on the enemy and know everything you can about them, the same holds true in business. This function needs to know and provide the sales force and management with the latest on: top competitors strategy and tactics including products, technology, marketing and pricing, big wins, big losses and any other facts that can be useful in building and winning sales.
Compensation. Sales compensation needs to be at least competitive for the industry and geography the company operates in. Most sales people are on a combination of base salary and commission. The best sales people want a higher percentage of commission. The more successful they are the more they can earn. A couple of points on this. Sales people should be on at least 50% commission. There should be no cap on what they can earn based on their quotas. Finally, find a sales compensation plan that works and stick with it. Changing the sales compensation plan every year will only guarantee confusion and discontent among the sales force.
Sales excellence is often thought to be as much of an art as a science. This may be true. But successful sales people need specific support and infrastructure to be successful. Following the points outlined above, combined with smart and aggressive sales people will insure sales excellence in any business or organization.
George F. Franks, III is the founder and CEO of Franks Consulting Group, a Bethesda, Maryland based management consulting and leadership coaching practice. George is a member of the Institute of Management Consultants (USA) and the International Coach Federation. He can be reached at gfranks@franksconsultinggroup.com
Franks Consulting Group is on the web at:
http:franksconsultinggroup.com
George’s weblog is:
http://consultingandcoaching.blogspot.com
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Posted by admin on March 27th, 2008 — Posted in Sales Techniques
Sales training programs encompass a variety of necessary components; things like company policies, sales paperwork, CRM/sales force automation orientation, sales processes, company services, sales skill training and product features and benefits.
But when I ask Sales executives and Sales trainers how their current sales training program is aligned with their sales performance issues I get the look of “No speak English’.
Let’s first categorize ‘Sales performance issues’. There are (4) distinct sales performance silos that will effect the overall outcome of any sales team, year in and year out. They are:
• % of Sales reps to Quota
• Average New-hire Ramp-to-Quota in months
• Sales Employee Turnover rate
• Time spent versus Result achieved
This is a good place to start in determining what sales skill training to implement to achieve a measurable return on investment. But here’s what will set you apart when you walk the request up to the front office. Start out with the NUMBERS.
That’s right. Take a diagnostic view of your current sales performance silos, one by one.
Let’s look at a real sales performance issue example of ‘Average New-hire Ramp-to-Quota’. I recently conducted a ‘Sales Performance Improvement Blueprint’ web-cast for this sales organization.
The company was hiring 155 sales reps per year. The ultimate objective of any new-hire sales training program is to ramp the new sales rep to Quota. Simply, give them everything they need to effectively reach their monthly sales goal.
So how was this company doing? They were obtaining this ultimate sales training program objective in 7 months. So how does one determine if that training outcome is a ‘Sales Performance Issue’? Let’s take a look.
Step 1: ‘Run the Numbers’ for any realistic ROI opportunity
• Each new-hire rep had an ultimate quota of $3500
• Sales Cycle was 17 days
• Average customer term agreement of 36 months
• Average ‘Sub-Quota’ revenue per month during ramp of $1300 (This number reflects the average monthly revenue a new-hire achieves before they achieve quota attainment)
Step 2: ‘Run the Numbers’ hypothetically for a ‘Specific’ improvement
In this case, I showed the sales management team what return on investment they would get by helping just 1 sales rep achieve full sales quota in 6 months versus 7 months. Based on their numbers my diagnostic X2 Evaluator system showed them a ROI of $79,200 just by trimming off 30 days. If they did that for all 155 of their annual new-hires, they could realize $12,276,000.
And that got their attention. So, is it now a worthy sales performance issue to attach pin-point sales training to? Not quite yet.
Step 3: ‘Run the Numbers’ for a ‘Reality Check’
The most successful businesses and certainly, sales departments have identified their Key Performance Indicators (KPI); individual gateways that directly effect the outcome of a particular process. Then they measure the competency ratios in line with them.
A good KPI example in the sales process might be how many times you advance the first sales appointment to the next phase, whether that’s a demonstration, a site visit, a survey or a proposal. Another KPI is how many times you gain a new customer once the first gateway is passed. And when you do gain a new customer, what’s the average revenue you achieve? And how long does it take to gain a new customer on average; i.e. sales cycle?
How about how long it takes you to gain 1 new sales appointment, defined by sales prospect ‘conversation’? And as a by-product of all this, how many new appointments are needed each week?
We ran these numbers in the X2 Evaluator system to see ‘if and where’ there were some leaks in the ‘KPI ship’. And here’s what we discovered; not a leak, but a big ‘ole fire hose.
Two ‘KPI issues’ were apparent. First, why does the ramp-to-quota for a new-hire take 7 months when the average sales cycle is 17 days? Second, they were only setting 3 new appointments per week when they needed to set 6, based on their other KPIs. So their sales appointment ‘activity barometer’ was only running at 50%. And that will dictate a longer ramp-to-quota.
Dig a bit deeper in the X2 Evaluator system and out popped a 6% conversation-to-appointment ratio; they had to conduct 15 prospect conversations to get 1 new appointment.
OK, back to the ‘Reality Check’. Is it realistic to focus on reducing the new-hire ramp-to-quota from 7 months to 6 months for a sales training ROI of $12,276,000 or $79,200 per rep?
You bet it is. These folks needed to address the front-end of their sales process; setting targeted sales appointments. To do that, they needed (1) establish an activity standard to reach quota by month six and (2) develop a sales prospecting methodology and supporting X2 Evaluator system to spend less time in achieving it.
Then they needed to plug their sales prospecting ’system’ into their current sales training program and work to a weekly sales appointment activity goal to assure a monthly revenue result by month 6.
Step 4: Set the Goal and ‘Train to It’
A sales training ROI goal of $12,276,000 or $79,200 per rep is for sure a worthy one. And the diagnostic system showed us they would meet this goal just by setting 3 additional sales appointment per week per rep; 6 appointments versus 3.
Actually, I lied. The X2 Evaluator system showed an even brighter picture if the sales appointment activity standard of 6 new appointments per week was met. If they could support their new-hires with a sales prospecting system that could help them achieve 6 new sales appointments per week, they would actually cut their new-hire Ramp-to-Quota by 4 months; from the current 7 months down to 3 months.
And that sales training ROI would be $316,800 per rep or a whopping $49,104,000.
One of the reasons why sales training fails is a failure to define a useful objective. In this case, our diagnostic method has defined a single useful objective for them to train to. And this same diagnostic method can be utilized if you have a ‘Sales Performance Issue’ of an unacceptable percentage of Sales reps reaching Quota each month.
In Part 2, we will take a look at (2) other sales performance issues, ‘Sales Employee Turnover rate’ and ‘Time spent versus Result achieved’ with this same sales management team and see what our diagnostic method to sales performance improvement and ROI turns up.
Jeff Hardesty is President of JDH Group, Inc. and the Developer of the X2 Sales System®, a blended training system that teaches sales professionals the competency of setting C-level business appointments. Jeff can be reached at jeff@convertmoresales.com.
Calculate your sales team’s ‘Sales Performance Competencies’ here =>http://convertmoresales.com/marketing_blitz.php
Submit your numbers for a complimentary 30-minute performance consultation with Jeff Hardesty =>http://convertmoresales.com/roi_survey.php
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