http://www.salescoachinglive.com/blog/category/sales-technology/ Blog categories... http://www.salescoachinglive.com/barrycaponi/blog/the-foolproof-lack-of-sales-early-warning-system/ What is the best way to predict (and fix) a coming shortfall in sales revenue?

Ever had a great quarter or month followed by a dry one? We all have a...]]> What is the best way to predict (and fix) a coming shortfall in sales revenue?

Ever had a great quarter or month followed by a dry one? We all have at one point or another. Those of us who didn’t want that to happen again have adopted systems and processes to reduce the risk of it happening again. But, what is the quickest and easiest way to predict a coming shortfall in sales?

Every sale is preceded by an Initial Appointment. Regardless of what we sell or how many calls it takes to close that sale, they all begin with an Initial Appointment. That appointment could be a face-to-face call, a web-based call or a good old-fashioned phone call. It really makes no difference.

So what does this have to do with an early warning system? Simple. We must know how many Initial Appointments it takes to generate a sale and then figure out how many Initial Appointments must be on the calendar at any given moment to provide the number of needed sales. For instance, in our case, we need five Initial Appointments spread out over any given two-week period at any time.

Now for the final step in the process: What precedes an Initial Appointment? The conversations and dials that are necessary to set up those appointments is the answer. So, the final question to ask ourselves is how many dials are necessary to generate those five appointments. Because the dial is truly the earliest step in the selling process, I can now monitor my dials to see what my sales will be.

Given our ratios of dials to conversations of 13% and our conversations to appointments ratio of 26%, we need to dial the phone 15 times a day between those of us who sell. Not a monumental task, but a task that must be done, nonetheless.

I look at my Klpz dashboard each week and can see both the number of dials and the number of appointments we’ve got on the calendar at any given moment. If either of those numbers is low, it is an easy fix to keep our sales two months in the future from cratering. Get on the phone….]]> http://www.salescoachinglive.com/barrycaponi/blog/the-foolproof-lack-of-sales-early-warning-system/ Tue, 04 Oct 2011 22:29:55 +0000 Barry D. Caponi http://www.salescoachinglive.com/davekahle/blog/what-can-we-learn-from-the-best-sales-people/ Do great B2B sales people, regardless of what they sell, have any practices in common? In other words, do the best sales people all sell the same way...
A number of years ago, a professional association attempted to answer that question. They studied superstar sales people from a wide variety of industries and concluded: Yes!

In fact, the best sales people excel at the same things. Here are the top five practices of the very best sales people:
1. They see the situation from the customer’s point of view.
2. They ask better questions.
3. They listen more constructively.
4. They are obsessed with time management.
5. They do bigger deals.

Let’s look at the relationship among these items to see if there are any lessons for us.

“They do bigger deals.” That is both the result of their work (that is, after all, why they are the best sales people) as well as their focus from the beginning. They start with an understanding that it is their job to bring revenue into the company, and that the more revenue they bring in, the more valuable they are to their companies and the more successful they become. And this realization leads them to what becomes an obsession.

“They are obsessed with time management.” That means that they intentionally and methodically strive to make the best use of their sales time by focusing the bulk of their efforts on the highest-potential opportunities and customers. You won’t find them running an errand for a “C” customer just to be a nice guy.

In my book, How to Sell Anything to Anyone Anytime, I make the point that this practice – investing in the highest potential prospects and customers – trumps all other sales practices. If you are a great presenter, for example, and wonderful at closing the sale, your skills will be squandered if they are not exercised with the right people.

And what do the best sales people do with the time they invest in the highest-potential customers? “Ask better questions,” and “listen more constructively.” Amazing. These two fundamental communication skills are, perhaps, the earliest communication skills we learn. Yet, the best take these foundational skills and execute them better. And since they excel at these two fundamentals, they naturally gain a better understanding of the “customer’s point of view.” Equipped with that competitive advantage, they formulate creative proposals that lead them back to where they started: bigger deals.

This should be immensely encouraging to sales people. Unlike the promotional messages from legions of sales trainers and authors, the reality is that there are no “secrets” in sales. Success comes not from hidden strategies and mysterious tactics, but rather from the excellent execution of the essentials.

The best sales people execute the most fundamental skills with excellence. And, since we can all do the things the best do, we can, if we choose, strive to do them better. And, if we strive to do them better, at some point we will arrive at the same place they are: a master sales person.

In other words, there is a path to sales mastery, and we can all follow it, if we choose.

It begins with our mind-set. We need to see ourselves as professional sales people, whose job it is to bring revenue into the company. That sounds so simple and so basic, yet legions of sales people are loath to consider themselves sales people. They are account executives, sales facilitators, mobile customer service representatives, etc. Some consider themselves to be exclusively the advocates for the customer and hand out discounts and concessions to anyone and everyone.

Since they don’t see themselves as professional sales people, they don’t invest in improving their sales skills. They don’t understand that their behavior creates a reciprocal reaction on the part of the customer. The sales person’s actions create reactions on the part of the customer. If they want more profitable actions from the customer, they need to improve their actions.

Once we have the mind-set of the professional sales person, we slowly begin to gravitate toward the opportunities and customers that hold the greatest potential. We understand that we only have a small and limited quantity of sales time, and that we must invest it, with a cold-blooded business attitude, in those situations that will bring the greatest reward. In short, effective time management becomes a daily obsession.

Now, since we are interacting more frequently with the highest potential customers and prospects, we focus on excelling at the most fundamental communication skill: asking better questions and listening more constructively. Armed with these two fundamental and powerful communication devices, we strive for continued improvement and constant development.

With this as a path, sales mastery is an achievable goal for every committed sales person.

As the best have taught us, there is a path to sales mastery, and it comes travels through excellent execution of the essentials.]]> http://www.salescoachinglive.com/davekahle/blog/what-can-we-learn-from-the-best-sales-people/ Tue, 28 Jun 2011 17:45:03 +0000 Dave Kahle http://www.salescoachinglive.com/barrycaponi/blog/why-don-t-ales-professionals-set-enough-initial-appointments/ Who should be making the appointment setting calls in your organization?

Is the sales force one that cannot, will not, or should not be setting appoi...]]> Who should be making the appointment setting calls in your organization?

Is the sales force one that cannot, will not, or should not be setting appointments their own appointments?

We are many times asked, “When should I outsource our appointment setting requirement for the outside sales team?” This question comes up when managers aren’t consistently seeing enough Initial Appointments being set by their sales team.

If we can answer the following question, we’ve got our answer. Is the reason enough appointments are not being set because the sales team cannot, will not, or should not be setting appointments? Now that I’ve settled that topic…just kidding. Let’s explore that a little more deeply.

Let’s look at the last qualifier first, because if the answer is no for that one, then the first two qualifiers are moot. “Should our outside sales team be setting their own appointments?” In a sales environment where the buying cycles are long and complex, the average sized sale is big, and the competitive landscape is tough, our sales professionals are usually very highly paid. In those situations, suggest we, at least, look at having someone else set appointments for them.

The reason for that is that setting our own appointments takes time, and a lower cost resource can set appointments. If I’ve got a team of highly qualified subject matter experts, for instance, who have heavy time commitments in the buying cycles to qualify, present, and close, it does beg the question. Perhaps we are better off letting those sales people concentrate on what only they can do, and hire someone else to set appointments for them.

The trade-offs here are how much subject matter training is required to make the appointment setters competent to set qualified appointments, can we deliver that training, and can we supply reasonably targeted lists. Those are questions you’ll have to answer yourself.

However, let’s assume for a moment that we’ve decided that our team should be setting their own appointments. The next question we need to ask ourselves is, “Are they failing because they cannot, or will not set their own appointments?” If they will not, perhaps it is because the task is arduous, too time consuming, and painful. If we have addressed those issues and they just won’t do it, we need to find those sales professionals something else to do.

If it is because they cannot (or we’re not sure if it still might be will not), we do have remedies for that. Four areas may be addressed to help them become more effective and efficient at this task. They are; better lists of targets to call, a better set of best practices (pre-set business rules for the process), a better set of tools to take the pain out of the process and make them more efficient, and better skills to handle the objections they encounter when attempting to set the appointment.

Do not fall into the trap of; if a sales professional knows how to close, they know how to set appointments. It is a totally different process, requiring a different set of skills, tools and processes. Too many, this is a surprise. So much so, that I dedicated an entire section to this topic in both of my books, Contrary to Popular Opinion, Cold Calling Does Work! Volume I: Effectiveness, the Art of Appointment Making, and Volume II: Efficiency, the Science of Appointment Making. You can also find some of that explanation in the blog entitled, The skills that are necessary in the pipeline phase of selling are not the same as those required in appointment setting Part 1, Part 2, Part 3 and Part 4.

If you believe that your team needs to be setting some, if not all, of their own Initial Appointments, then make sure they’ve got the proper set of skills, tools and processes to make them both effective and efficient—or you’ll continue to struggle with an anemic pipeline.

Caponi Performance Group and Contact Science jointly market the telephone prospecting and cold calling solution called Coldcalling101™. It is the only comprehensive solution to solving the biggest barrier to success in most selling organizations—the inability to secure enough Initial Appointments to begin the selling process. We accomplish that through simultaneously addressing both the efficiency and effectiveness of the process. We can be reached at 817 224-9900 or at barry@coldcalling101.com.]]> http://www.salescoachinglive.com/barrycaponi/blog/why-don-t-ales-professionals-set-enough-initial-appointments/ Wed, 04 May 2011 16:00:19 +0000 Barry D. Caponi http://www.salescoachinglive.com/barrycaponi/blog/want-another-chance-to-follow-your-new-year-s-resolutions-2/ http://www.salescoachinglive.com/barrycaponi/blog/want-another-chance-to-follow-your-new-year-s-resolutions-2/ Thu, 31 Mar 2011 13:10:28 +0000 Barry D. Caponi http://www.salescoachinglive.com/barrycaponi/blog/want-another-chance-to-follow-your-new-year-s-resolutions/ http://www.salescoachinglive.com/barrycaponi/blog/want-another-chance-to-follow-your-new-year-s-resolutions/ Thu, 31 Mar 2011 13:09:51 +0000 Barry D. Caponi http://www.salescoachinglive.com/bfarmer/blog/passion/
Without passion, there is no fun!!

One of our best friends is p...]]>
Without passion, there is no fun!!

One of our best friends is passionate about abandoned St. Bernard dogs. This became a mission that has lead to the rescuing of hundreds of these beautiful animals.

Passion is the reason Jonas Salk invented the Polio vaccine and when asked why he did not patent it stated when asked by famed reporter Edward R. Murrow “Who owns this patent?", Salk replied, "No one. Could you patent the sun?"

Here are a couple of key ways to know what you are passionate about:

1. Does your voice get stronger when you are talking to others about building a house?
2. When someone asks your advice on a finding new customers do you find yourself giving them all sorts of advice?
3. Do you find yourself going on and on about Golden Retrievers?
4. Do bridal dresses give you goose bumps?
5. When you are tired and you get a call to go do something that involves a subject does your exhaustion disappear?

If this happens than more than likely you are passionate about these particular items.

When someone asks me about helping others be successful, I have to hold myself back. When someone mentions a golf game, I am there.

Now translate this to business. What about your business turns you on? Is it that your office is a great place to work? Do your clients send you thank you notes? Are you award winners in your industry? Do you make a difference in your clients lives? How do you fulfill their wants and needs? How do you make communication better in the office, with your sales force, with your clients? Are you passionate about adding value to you clients lives? If so, how?

Be passionate and make a DIFFERENCE!!]]> http://www.salescoachinglive.com/bfarmer/blog/passion/ Tue, 22 Feb 2011 23:48:14 +0000 Ben Farmer http://www.salescoachinglive.com/brintdriggs/blog/what-is-marketing-automation/ What is Marketing Automation? How Can Marketing Automation help my business?

In an earlier post, I pointed out how many (most) businesses are leaving...]]> What is Marketing Automation? How Can Marketing Automation help my business?

In an earlier post, I pointed out how many (most) businesses are leaving hundreds of thousands, if not millions, of dollars of potential new revenue on the table because they haven't yet figured out how to efficiently or effectively follow up with up to 95% of prospects and or customers in order to build trust, deliver value and position these prospects for future transactions.

An emerging new market, fueled by some remarkably simple technology has been created to enable businesses to solve this age old challenge...enter Marketing Automation.

Marketing Automation 101

Marketing Automation is the name given to software platformsthat seek to simplify and automate repetitive tasks within Marketing departments. Software vendors typically provide these platforms as a hosted or web-based solution, and so there is little-to-no software to install. These services are ideal for any company wishing to retain visitors and customers, improve conversions, reduce marketing costs, and streamline sales operations, and are often the mainstay of any B2B and B2C business that is on the web.


Elements in Automated Marketing Software

Important Product Features to Consider

Since the concept of Marketing Automation is relatively new, vendors will offer a varying choice of product features. It is then a wise choice to evaluate each vendor carefully and choose the one that best solves your immediate and long-term marketing and sales problems.

Overall, the most common feature one may find when evaluating vendors are listed here:

CRM Integration: Ideally suited to align Marketing and Sales - bi-directional CRM integration allows for CRM data to be easily manipulated from within the Marketing Automation platform.

Web Analytics: Incorporation of web analytics data, allows you to segment, score, and qualify prospects based on their website-viewing habits.

Lead Nurturing: Automates the process of qualifying Leads and increases up-sell rate by keeping current customers engaged.

Lead Scoring: Quality metrics applied to each Lead and Prospect, relative to that of others in your database.

Email Marketing: Email Marketing platform designed to launch email campaigns to targeted prospect groups.

List Management: Ability to segment your database of leads and target them with focused campaigns and programs.

Reporting: An obvious feature for any product, as you can't tune your marketing initiatives if you can't measure the response-rates.

The above list is a broad overview of the necessary pieces to achieve a successful Closed-Loop marketing process. As noted above, every vendor in the marketing automation space will have his own twist to these individual pieces, so choose the one that's right for you.

In my next post, I'll share with you more about how marketing automation works and we'll talk about the ROI benefits to your business...and your life.

If you'd like to discuss how marketing automation can help you grow your business, please give me a call at 877-890-2555 or email me at brint@brintdriggs.com]]> http://www.salescoachinglive.com/brintdriggs/blog/what-is-marketing-automation/ Mon, 13 Dec 2010 17:54:59 +0000 Brint Driggs http://www.salescoachinglive.com/brintdriggs/blog/a-case-for-automating-your-marketing/ Why has IBM, Google, Adobe spent billions of dollars in the race to dominate the web analytics market?

The answer is simple: Traffic, conversion and ...]]> Why has IBM, Google, Adobe spent billions of dollars in the race to dominate the web analytics market?

The answer is simple: Traffic, conversion and new revenue.

These are age old challenges. How do I get more of my ideal customers to visit my business (on-line or off-line), how do I get them to reach into their pockets or purses, pull out their money and hand it over to me…and walk away thrilled for having done so.

The internet has matured as a verifiable channel for filling your sales pipeline with pre-qualified prospects. With this maturation, the need to apply science and, well, technology to your web strategy is becoming more important than ever.

Companies spend billions every year trying to capture prospect information in hopes of closing immediate business. This is great and all very necessary; however, what percentage of this ‘new’ traffic is actually being monetized? Most would say that if a business could successfully convert 5% of this traffic to verifiable transactions, they would be thrilled...and rich.

While this is all fine and dandy (and necessary!), my inquiring mind has to ask the question:

"So, what are you doing with the 95% of the prospects that you're not successful at closing right away?"

The answer that I hear (and see) most of the time goes something like this "uhhhhh, not much. We try to follow up with them but most of them, quite frankly, kind of fall into a black hole and end up on some unused, rarely utilized database located somewhere on our servers."

Does this sound familiar? Does anything about this scenario sound crazy to anyone else but me?

Let's see, we're spending thousands, if not millions of dollars trying to get our ideal customers to visit our website and 'opt-in' to some sort of compelling offer...but yet, we're content to let 95% of that investment languish and die a slow, unprofitable death because we haven't figured out a way to efficiently or effectively follow up and nurture these types of prospects.

The Final Frontier?

We’re now able to automate pretty much every aspect of our business. Our financial and accounting processes, our manufacturing processes, our operations, our recruiting and hiring…the list goes on-and-on! Some form or fashion of technology has now been applied to pretty much every facet of our business and in many instances has enabled increased efficiencies and, while some would argue this, technology has also increased our effectiveness.

We’re now seeing a number of great solutions that are enabling businesses, large and small, to automate many of the marketing functions, which historically, have been very time consuming and inefficient.

In the next few posts, I’ll explore more about marketing automation and will provide reviews of some of the tools that have emerged that are helping businesses incubate and nurture the ‘languishing 95%’ in order to build more powerful sales pipelines and to drive more new revenue.

If you’re interested in immediate help in increasing your revenue by automating your marketing, please give us a call at 877-890-2555 or email me directly at brint@brintdriggs.com.]]> http://www.salescoachinglive.com/brintdriggs/blog/a-case-for-automating-your-marketing/ Mon, 13 Dec 2010 17:49:08 +0000 Brint Driggs