I know you need your daily dose of knowledge of information today so here I am at your service, sharing another great video that I just saw from YouTube (where else?). The topic we have in the video is about sales incentives. Does this excite you? Well, I bet it does! Who doesn’t want it? We all want it right? Companies need it too! They need it to increase staff performance. So it helps everyone, one way or another. Well, I will just let this video talk. This was uploaded by LoyalNationVideos and entitled “Sales Incentive Programs from LoyalNation”. Watch it!
Sales Incentive Programs from LoyalNation
The speaker speaks about the old saying “Money doesn’t buy happiness” and he followed it up with “neither poverty”. All I can say is “hell yeah!”
Well, this is his intro to sales incentive. He said that even though we work for money, it is still not about money. It is about the passion to win. Actually sales incentives creates a healthy competition inside the company and it is great to see that everyone is doing his best to get it and to be the best and there’s nothing wrong with that. It maximizes the potential of the team all year.
The video was cut out but the information is already given. Tell us now, are you driven by sales incentive? If you are a sales manager, do you find sales incentive program helpful? Share us your thoughts!
I would like to get the attention of the sales management team or the sales manager today because the blog that I saw is for them. It is about sales management on how you handle your sales team. If your team is doing fantastic, it must be because you are a good leader but if your team is doing poorly, it is time for you to ask yourself “am I a good sales manager for them?”. Your sales people need help from their superior before they do the business. Make sure that they are equipped with the knowledge they need before you let them go to the field. Here’s the article from Ken Thoreson, your sales management guru.
Sales Mgmt: Understanding “Setting the Hook”
By Ken Thoreson
One of the main jobs of sales management is to help their salespeople see where they are in the sales opportunity. Are they early? Do they know what they need to know? Do they have an excellent strategy to close? I like to think that a salesperson is a juggler, tossing X number of opportunities in the air and the sales managers job is to assist the salesperson on judging what opportuniti8es to work , which one’s to toss away and to provide ideas on HOW to work the selected ones
During a few recent client/consulting meetings I realized that this remains an extremely important aspect of any salesperson’s life as well as any sales manager or president of any firm. Exceeding monthly sales objectives are the goals of the sales organization, especially the sales manager. What to do?
First: if you have not subscribed to the “Sales Managers Tool Kit”, atwww.AcumenManagement.com , you can get a free copy of the Sales Strategy Guide by sending me an email: Ken@AcumenMgmt.com The Tool Kit contains 40 tools/guides for any sales manager. The purpose of the Sales Strategy Guide is to be used by each salesperson and the sales manager to discuss and strategize on individual sales opportunities and uncover what you know, what you don’t know and develop tactical steps to move the account to conclusion.
Second: The salesperson must know what the “Impact” of your product or services will have on the prospects business. The salesperson must fully understand this question and its answer. You will use it during critical aspects of closing the opportunity. YOU close for the prospect’s benefit-not the salespersons.
Third: Depending upon your product/services that you offer and vendor relationships, knowing when the prospect wants to be fully utilizing your offering is critical. It is not about “when a decision will be made” it’s about understanding timing and any issues surrounding that timeframe.
Fourth: Knowing early on during the sales process the reason the client will make the decision, the impact of your solution on their company and timing, allows the salesperson to begin to set the hook early. Now I am not suggesting unethical sales tactics, but making sure early in any sales cycle you fully understand the prospect’s key issues allows you control the sales process.
The key element to remember is individuals are always challenged to make a decision, your job, as a trusted advisor is to assist the individual in making the right decision that will impact their business and to help them make it on your time line. This is selling vs order taking.
Being mentally creative and tough and moving your role from simply presenting products/services to providing business guidance moves the role to the next level. It is the job of sales management to assist the salesperson to move forward professionally.
Acumen Management Group Ltd. “operationalizes” sales management systems and processes that pull revenue out of the doldrums into the fresh zone. During the past 14 years, our consulting, advisory, and platform services have illuminated, motivated, and rejuvenated the sales efforts for organizations throughout North America. His latest book is titled: “Leading High Performance Sales Teams”.
As a sales manager, it is your obligation to inform your team about your company and about their role in the business. It is also your duty to motivate them and to bring out the best in them. Remember they are looking up on you. You must be a good example and you must be firmed all the time, to get their full respect! Questions?
I have a very interesting blog to share with you right at this moment. This will leave a question in your mind that you will bring the whole day. This is if you are the one who is in control of the company. One of the executives! Are you the Sales President or Sales Vice President? Whatever role you play in the company, your opinion counts, especially if you are responsible for the company’s profit. We make business for profit right? Therefore, we are offering a service or a product for the people. It is a must that we make sure that it is something valuable to them and something they can’t resist. Here is a blog written by Mark LaRosa (@mlarosa), CEO of QuotaCrush.
“Building a Business” means something very different to me.
By Mark LaRosa
I saw this post today on VentureBeat about free courses being offered by Stanford to “Build Your Business”
Scan the list… NOT A SINGLE COURSE ON SALES!
It doesn’t matter how much “cryptology” you use, or how good your “graphical models” are, or how “creative you are” if you can’t get people to buy the product – if you don’t have people who want to PAY you for it. You will eventually go out of business! (BTW: are they seriously trying to teach how to be creative? isn’t that in your nature or not? of course, I feel the same way about teaching you how to be an entrepreneur, you either are or you aren’t – it can’t be taught).
On the same day, there was a post on Business Insider about how Tumblr ignored revenue for too long and is now feeling the heat.
I say it over and over again, your product does not matter if people don’t want it. It has to solve a critical problem. And if you aren’t thinking about sales from day 1, you are already too late. You don’t build a product for product sake, you build it so that people will buy it – so that you can bring in revenue and make a living for your employees. Spending some angel’s money or some VC fund’s limited partner’s money just for fun is NOT what being an entrepreneur is about – and it always shocks me that business schools have not figured this out! There is only one common thread in EVERY company in the world – and that is selling.
In every company that I have started, revenue has always been the main focus in inception. If I couldn’t think about how the company made money, I moved onto another idea. The revenue can certainly be indirect, but there has to be a monetization strategy somewhere – otherwise you are just spending investors money “playing company.”
When I have been brought into companies to rescue them, it is always about bringing revenue in- and its certainly much easier when there are plans for this from the get go.
So… certainly take these free classes from Stanford – but don’t forget that “building your product” does not mean “building your business”. If you are building your “business” then revenue should 100% be a component of that discussion.
How about you? How do you see business? What is your main goal when you are starting up a business? Is it for profit? Of course, it is! Don’t deny it! Though, there are people I know who will answer “to help other people” but in return, the more people they help, the more revenue they get. Do you have any comments? I want to read it on the comment box!
Are you excited for the new info that I am going to share today? My excitement is doubled because every time I find something interesting, I can’t help myself but to hurry and post it.
I can relate to this post from ZoomInfo (@ZoomInfo), the title is “Marketers don’t understand their targets“. Can you relate too? An example is a B2B Sales through social media. Marketers are hurrying to try something new in marketing world, simply because they don’t want to be left behind. If everyone is using Facebook to have sales, they are also there, trying to target every Facebook users and forgetting their target market. Read for yourself.
By ZoomInsights staff
New technology often leads to a gap between goals and execution across industries, and according to a Demandbase study – done in conjunction with Ziff Davis – that is true for B2B marketers. The report, “Account-Based Marketing in 2013,” said, “Many survey respondents indicated that how their companies measure results, produce content or even use resources does not correspond to their long-term priorities.”
In many ways, this is an age-old tale. Everyone wants to use the newest tools, but not everyone takes the time to plot out a strategy. Not surprisingly, the report said, “To stay competitive, such organizations must bridge this gap by testing new approaches, thinking strategically and measuring their results.”
Social media and content marketing on the rise
While the report found that SEO still claims the top spot when it comes to the strategies that companies use for online marketing, it is social media and “inbound marketing/content creation/blogs” that come in second and third. These inexpensive marketing tools that take your company’s message straight to the people have become powerful extensions of the B2B marketing machine. As these tools gain prominence, however, there will be questions to be answered.
On the other hand, pay-per-click campaigns seem to be on the decline, and display advertising also rank low.
Who are b2b marketers targeting?
Demandbase asked its respondents “Which of the following marketing targets are most important to your company?” and “Which of the following marketing targets consume the most marketing resources (e.g., budget, staff time, other resources)?” In both cases, marketers indicated that they are focused on targeting companies by industry and/or vertical market. Coming in second, in both cases, was “prospect title.”
The report warns marketers against making too many assumptions about people with desirable titles: “While targeting by title can be effective in marketing a narrow niche product or service or for the creation of buyer personas, it can also limit the efficiency of marketing efforts by failing to better define what the title really means within the context of a particular company — or where that company exists in the context of your buying universe. Are they likely to ever buy from you —or is it a case of right person, wrong company? Context is key.”
A lack of understanding
Although the marketers who were interviewed indicated that “increased focus on individual prospect types/buyer personas” and “increased focus on industries or vertical markets” were their biggest priorities, the research found that many of these same people were struggling to understand those target markets: “With 50 percent of the respondents who say they have only a basic understanding of their target market, and another 10 percent who say they don’t yet understand their target at all, this area indicates room for ample growth.”
How to improve your B2B marketing efforts
The report drew three concrete conclusions about how B2B marketers can improve their efforts in the coming year:
- Align targets, resources, lead scoring and content creation. Long-term goals and areas of focus should serve as a guide.
- Consider diving deeper into data you have collected about your existing customers as the shortest path to a more thorough understanding of who your new customers will be.
- Limited budget and resource concerns lend themselves to a renewed focus on account-based marketing techniques, combining what you know about the companies most likely to buy with your tactical campaign selection, lead scoring, lead nurturing, buyer persona creation and content strategy.
As it turns out, much of what the report concludes is common-sense advice. Know your audience, have a strategy, and measure your success – wisdom for this year and next.
P.S. ZoomInfo has partnered with Vorsight, an award winning sales effectiveness firm, to host “Unlock the Secrets to Handling Objections”. Please join us for a free webinar on Tuesday, January 22nd at 1:00 PM. Space is limited. Reserve your spot today!
Are you guilty of not understanding your target markets? This is very important in the business. This is the basis of every strategy. When you know your markets are, it will be easy for you to do your next step. Who are your targets? Have you figure out already? Comment if you know!
How are you doing? I have here a blog that a sales manager should read. This blog is written by S. Anthony Iannarino (@iannarino) which talks about sales person recognition. Some of the sales manager often thinks that they are on higher level and the sales agents are just their subordinates. Treating your sales agent as an ordinary employee has an impact on his performance and this is not good for the company. These people have a quota to reach so it is important that they are highly motivated. They bring sales to the company so they must be treated fairly. The incentive scheme is quite effective in recognizing their hard work. So here’s how the author state his opinion.
Underestimating the Value of Being a Great Salesperson
By S. Anthony Iannarino
You have a great offering. Your competitor also has a great offering.
You have a tried and true sales process. Your competitor has a tried and true sales process, too.
You are using the latest and greatest sales methodology. Your competitor is also using the shiny new “new” thing.
Your sales force automation is a modern marvel. Everything you use is integrated into a beautiful, sleek interface with custom dashboards. Your competitor’s SFA is a dead ringer for yours. Only the company logo is different.
You are equipped with the best technology that money can buy. Well, how about that. Ditto your competitor; they’re equally well equipped.
The Difference: You.
We tend to overestimate the impact of some things on sales results and greatly underestimate what’s most important. In any sales organization where the above statements are true, they’re true for every salesperson on the sales team. That means the difference in results is something else, even in your sales organization.
The difference that makes a difference is you, the salesperson. It’s helpful to have a great offering, an effective sales process, good methodologies, and great technology. But it isn’t a substitute for the value created by a great salesperson sitting face-to-face with their dream client.
If you want to improve something that will immediately and irrevocably improve your sales results, you start with the greatest asset you will ever have for producing results: You. You becoming the best ever version of yourself will do more to improve your sales results than anything else.
What do you substitute for developing your sales skills?
What accounts for the difference in sales results between salespeople in the same organization? Different organizations?
If you could change one thing that would massively improve your results, what would you change?
How much does the salesperson account for in the decision to buy?
Let the employee feel that they are part of business and not just personnel who will do the command. It will degrade them and feel that they can’t do anything without your advice at all times. The initiative to respond in work at their very best will be eradicated once you put on their mind that they do not know anything without you. It is very time consuming also to dictate to them what to do every now and then, right?
How are you guys? It is fun to spent time with you again my readers. What a glorious chance we have to learn more today. I am lucky that every day I encounter things that motivate me to do the things positively. With this I am always smiling and laughing with my friends and sisters at home. No negative energy! Well there is no space for negativity to me. My readers let us talk about “motivation”. I had read an article by Mark Hunter of Sales Hunter. It contains tips to motivate sales. This also tackles the vitality in performing task and responsibilities in organization. So, if you are feeling down today, just read this.
By Mark Hunter
We’re a month into 2013 and it’s not too early to be looking at where you are compared to your yearly number.
Your annual number is to be a motivator, not a “downer,” so use it as just that — a tool to keep you motivated.
Regardless of where you stand year-to-date, it is essential for you to have some successes early on in the year, even if they’re small, to give you some sales motivation. I’m a firm believer that momentum creates momentum.
Nearly every salesperson I’ve ever talked to has been able to tell me at least one time where it seemed like once the sales started coming, they just kept on coming.
My suggestion is you look at your current number and compare it to where you should be for a month gone in the year. If you’re there, great! Then challenge yourself to get to that annual number by the end of November.
Pushing yourself to go beyond your number does two things. First, it creates more sales, and second, it protects you should something not go the way you expect it to somewhere through the year.
If you’re not on your number, don’t panic. Relax and assess. There’s plenty of time.
What you want to do is to start looking at some things that have gone right so far. Write them down and then do two things. First, celebrate and congratulate yourself for what you’ve been able to accomplish. Remember my comment about momentum creating momentum. Many times all it takes is something small going right and then leveraging that into something bigger.
Second, ask yourself why were you successful with that and what can you learn from it and apply elsewhere.
We have 11 months left in the year. That means there is plenty of time to make things happen, but it starts by first reviewing where you’re at now and charting the appropriate course.
Motivation is very important and helpful in performing task and responsibilities smoothly for the growth of the organization where you are working, to increase the productivity. It helps to save time and effort because you are focus.
Don’t compare yourself to anyone because we are born with different personalities, talents and capabilities. Know your strength and use it as an instrument for the self-growth so that you are ready to face the outside world.
Don’t think that you are loser because it is not true. Don’t let other people define of what will be who you are, instead prove that you are the perfect one. We are all born smart, gorgeous and talented in different aspect.
Let us learn today how to cope up with B2B Challenge. I have you here the Connect and Sell Company (@ConnectAndSell) blog which states the inflated number of competencies in the world market nowadays. This is also known as Business to Business Challenge or the so called B2B challenge. You need be effective for you to collaborate with them. This blog answers how you can be effective business partner when the competition is pretty hard. You might have same offer, equipment, tools and methodology. It will be only different on approach or attack. The communication skills has vital role in closing the deal. You must be careful also in choosing leads. See to it that they are reliable enough to be your partner to ensure productivity or b2b sales. Here’s the blog.
Two big hurdles stand between you and success in B2B sales and marketing. First, without real conversations there are no real deals. Second, decision makers are very hard to get on the phone.
The first hurdle isn’t going anywhere. No conversations, no deals. But what if the second hurdle turned out to be a little speed bump? What if the next conversation between your qualified sales rep and a bona fide decision maker was only two minutes away? Would you approach the B2B Challenge differently? What is the business impact of conversations on demand?
Call our Conversation experts at (888) 240-7377 to learn how we use ConnectAndSell every day. We guarantee you’ll find the conversation profitable.
It is very easy to know nowadays when your business is ranking through the internet environment. The more your product is easy to navigate by many end- users, the more your product gets exposed. The rivals of b2b are very high and you need to get more aggressive to connect with target client through communication. There is no room for people with less confidence to strive in the market. Do you learn something today? Hit us a comment.