The InsideView (@insideview) blog is quite informative for sales rep. This blog entitled “Monitoring Email Marketing ROI 101 helps them to be knowledgeable on how to represent the company. It helps the sales rep to see to it that they have ROI or return on investments. It points out that it is important that your time and effort is compensated. A sales rep should set a goal on number of closed deal. Making follow up action and monitoring through e- mails is effective. You can accomplish your goal by acquiring in – house tracking systems to ensure that you are dealing with the right people in business and you are not wasting too much time on wrong client. The online and offline campaign will surely work together as e- mailing needs to be followed up by cold calling to make your offer more convincing. Read the whole blog below.
If your sales reps engage in email marketing campaigns, they need to have reliable practices in place to track return on investments (ROI) and the worth of your campaigning tactics. Also, let’s be honest: email marketing has earned a bad reputation in the past few years. Most consumers see email marketing as purely spam and have incorporated ways to filter the unsolicited emails to their junk boxes. Sending out bulk emails to a client list isn’t the best sales strategy anymore as those emails will likely find their way to the trash quicker than it took to reach an inbox.
According to research by Gartner, consumers stuck a fork in traditional email marketing a while ago, but that doesn’t mean it is dead. Email marketing should just be approached differently, Gartner found. Email marketing is useless as a generic outbound sales tool, but it is relevant if used with outbound marketing to move leads through the funnel, according to Gartner.
So, how do you monitor your ROI with email marketing?
Email marketing is a cheap way to get your message to clients, but, as previously discussed, following traditional email marketing methods might not be your best strategy today. Once you’ve determined the best ways to roll out your email marketing as an element of outbound marketing, make sure you have some, if not all, of the following strategies in place to monitor ROI:
In-house tracking systems: Software programs that track where your clients are coming from are abundant and easily available. Make sure your company knows where your base is, so you can begin converting analytics into sales. The more targeted your approach, the more successful your campaign.
Google Analytics: The software program Google makes readily available is simple and easy to follow. For example, adding campaign tags to your email links will allow you to track which links were most successful in your email campaigns. Google Analytics also allows you to put tracking codes in each email, so you will be able to compare and contrast past email marketing methods when determining your next campaign and how much money you should put into it.
Integrate your online and offline marketing strategies: Studies have shown that integrating your online and offline marketing strategies strengthen your brand by making sure your campaigns compliment each other. This means integrating your marketing strategy with your sales strategy. For instance, if you target a number of leads you have generated from an event, your outreach process should involve sales and marketing follow up. This may look like a marketing email that offers a content piece followed by a sales call that discusses the piece. How does your email marketing campaign compliment your offline sales strategy?
Educate yourself: Often, ROI comes from an understanding between sales and marketing about the end goal of a campaign. If marketing builds a sophisticated email nurture campaign that requires follow up from the sales team, it stands to reason that the campaign will fail unless sales does their part. Before you roll out a campaign, make sure sales understands and will directly benefit from the campaign.
Research on the web about monitoring ROI with email marketing is plentiful. Take some time to plan your campaign before sending a bulk email that will never cross most of your clients’ eyes.
It is very true that once you start your business at the right way, it will have a strong foundation. Everything will run smoothly. You must have marketing tool that will surely value your time and will give your needs. Do you find the blog helpful? Tell us why?
I am sharing with you a video from YouTube which was entitled “The Value of Offering Employee Benefits & Perks”. I’m sure that all of us can relate to this, whether you are an employee or the employer. Here in this video, they discussed about the popular employee perks and benefits. Many people think that it is only the employee who benefits from this but that is not true. It is a win-win situation for both of them. If the employee is happy and satisfied, he/she will be more productive and loyal to your company. Here’s the video! Watch it!
The Value of Offering Employee Benefits & Perks”
These people explain that a satisfied employee = employer’s peace of mind. Why? It is because when you know that they are satisfied, it means that they are not looking for more. Therefore, they will not look for another company which offers more benefits than yours.
Here are the most popular employee’s benefits as discussed in the video.
– Medical/Dental Insurance
– Vacation / Sick / Personal Leave
– Annual Pay Increases
– Flexible Hours
– Housing Allowance / Living Arrangement
– Vehicle Use / Vehicle Allowance
– Education Reimbursement
– Cellphone / Allowance
– Computer, Ipod etc.
– Pre-tax Plan
I know what you are thinking. You are thinking that there are a lot of unemployed people who are looking for a job so you will never ran out of manpower. However, if you have listened very well, you will find out that it is expensive to find new employee every time one leaves. The whole process of hiring a new one is expensive plus losing a very good employee is a liability to the company.
Here’s my question:
As an employee, are these perks enough for you to stay and work hard for the company?
As an employer, is it worth it?
You have the power to answer these questions and enlightened us!
All the best,
While I am surfing through the internet, something pops out in my mind, a question about how to start a sales promotion. It is always not easy to start anything, especially if you have to begin from the scratch. I search in YouTube to watch a video about starting a sales promotion to have an idea and the video below is what I’ve found. This is uploaded by eHow Channel…you can click here if you want to watch more of their videos. This is the first video I’ve watched and I feel like sharing so here it is for you to watch.
Marketing Strategies : Starting a Sales Promotion
The person in the video is speaking quickly and I think that you might not grasp all of his words so I jot down some of the important things for you to remember before doing your sales promotion.
Here’s the list.
1. Develop a plan
2. Do a research
3. Answer questions such as
a. who are you trying to pull in with this promotion?
b. who do you want to buy your products?
c. who do you want to get out and market it for you?
4. Determine advertising module to use.
a. online advertisement
b. offline advertisement
5. Determine your budget.
6. See if you can get in touch with your prospects personally by visiting and speaking to their community, companies or school.
Having done this I believe you are good to go!
For the first timers, let me hear your thoughts. For the experts, let us hear your words of advice!
If you are thinking of using a carrot to motivate your team, I advise that you use cupcake instead. What I am trying to say is that you should not motivate your team with sales rewards they expected but encourage them to work harder and go extra mile by giving recognition to their effort when they are not expecting it. I like the way Ms. Darcy Jacobsen (@DarcyJacobsen) uses cupcake to symbolize recognition. She explains it simply but deeply. To understand better, I write down her story and all the wordings from her post at Globoforce (@Globoforce). Enjoy the post!
THE CARROT AND THE CUPCAKE: WHY MOTIVATION IS NOT RECOGNITION
By Darcy Jacobsen
Try not to be too jealous, but I have cupcakes. Delicious triple chocolate cupcakes with white chocolate frosting and sprinkles.
I got them as a recognition reward. You see, my sister lives in the apartment downstairs from me, and she’s a lawyer. When work heated up for her this week and she was putting in extra hours, I offered to go down and feed her cat for her, so she wouldn’t have to stress about getting home. I was happy to help her out, and she was very grateful.
So she brought me home some cupcakes to say thank you.
I honestly wasn’t expecting any repayment for helping out. Helping out is just part of the “culture” of my apartment building—where we’re mostly family and tend to pitch in for the common good. But a little recognition for my extra contribution certainly made me feel good. Especially recognition in its yummy frosted form. And I’m all the more likely to step up and help my sister out in the future, not so much because I expect more cupcakes, but because I know how much she appreciated my effort—and her taking the time to recognize it made me feel good.
My point isn’t to make you hungry, but to relate this to the workplace. Cupcakes are a great way to encourage behavior and values you want to see around you. Cupcakes—and of course what I mean here is not actual cupcakes but metaphorical cupcakes—are an unexpected and unrequested recognition of a job well done.
The unexpected and unrequested part is pretty key. In this way, cupcakes are very different from that other metaphor, the carrot. Carrots are dangled for a reason. They are an incentive, a goal, a payoff for delivering on a promise. They can be quite powerful, but they are not recognition. And they are not a driver of engagement.
If my sister had called me and said, “If you feed my cat for a few days, I’ll bring you some cupcakes,” then that would have been a carrot (maybe carrot cake?). I would have fed the cat, collected my cupcakes, and we’d have likely both been satisfied with a decent transaction. But I wouldn’t have gotten that other benefit—that feeling that I went the extra mile to be a good sister and neighbor, or that my sister real appreciated me. That benefit only comes with cupcakes.
Of course, this dynamic plays out in the workplace. Incentives have their place. They are great for driving people and businesses to agreed-upon goals. But they are transactional, pure and simple. They do not build good-will, because people see incentives as their due. They do not build engagement, because they engender none of those emotional cupcake-y feelings that tell us our professional relationships are strong.
So while carrots can be effective and should certainly be incorporated into your rewards and compensation scenarios, be sure you always make room for cupcakes.
Are you delighted by the description of the cupcake? Do you want to have some? Kidding aside, any little things you did just to recognize the effort of your team is big deal to them. It is like saying that “keep up the good work guys!”, “you are doing well” or “I like what you have done”. This will boost their ego and they will think that you trusted them and you are proud of them, and they don’t want to ruin it so they will do their best to be better next time around. Do you have the same experience? Share it!
I am thinking of an incentive for my team and I decided to make a research about it and I stumble upon this video of Simon Chan in YouTube and it helps me to determine the right incentives for my team. Admit it or not, we need to give something in order to get something. We need to give incentives to our team so that in return we can get what we want from them. If you are thinking the same way right now, I am gladly bring you something that might help you to know what kind of incentive schemes is right for your team. Here is the video, you can watch it on YouTube or you can directly watch it right now!
Network Marketing Training on Appropriate Team Incentives
By Simon Chan
That was simply said my Simon Chan! What he is trying to point out is that there is no “one size fits all” incentives for your team. The right incentive for them is to know what motivates them and what excites them. To help you here are some points he mentioned to make your decision easy.
- Know your team
- Who is your group?
- How old are they? And
- What do they like?
Knowing these will help you decide. There are great things for someone that is just ordinary or doesn’t have any value to another so think what they like and your incentive scheme will be effective! What incentive scheme works for you? Please share 🙂
I stumble upon this article about giving feedback today and I bring it here for you to read. Most of the times, feedback is negative, you will hear feedback when there is something wrong but with this blog, you will learn how to use feedback as a motivation to your inside sales rep. The author Lori Richardson of Score More Sales (@scoremoresales) says that you should always give feedback whether bad or good so your people will get used to it. Lori shares the importance of feedback and how to break a negative feedback to your inside sales rep. Here’s her full blog.
The Importance of Giving Feedback in Inside Sales
By Lori Richardson
At a recent round-table with inside sales leaders, our topic was about effectively leading Gen Y / Millennials. We all agreed that generally speaking this group of employees match up to the tasks of what solid, successful inside sales professionals do – with one caveat. There is a larger need for feedback.
The feedback requests are not just “how am I doing” but also in wanting a lot of guidance and in career planning at the company. Some leaders tell me it is constant.
It’s not unusual for a 22 or 23 year old to tell their sales leader, “OK, I did this job for a year. I want to understand where this position will take me – right away.”
The Bridge Group, Inc, and Vorsight did a survey of almost 1000 sales people and created an e-book called Mythbusting Millennials – Separating Fact from Fiction for Managing Gen Y Sales Reps. You can see a taste of it – about the Millennial generation craving feedback myth confirmed via slideshare here.
It is apparent that learning how to give feedback is critical as a sales leader. Unfortunately we live in a world where something as important as this is not taught in school. Many times it is not taught at work – but clearly a leader needs to learn somehow.
Three things to know about giving feedback:
1.It is important to give regular feedback, not just when it is about a negative situation. This way, having a conversation with a sales leader does not put a sick feeling in any of your team members’ stomachs. Catch your team doing good things. Use your metrics to mention successes. Give this feedback sooner rather than later.
My son played Division I college hockey and his coach rarely talked to the players during games. I always thought it was odd, although he often under-communicated, and years later heard from the players who shared how frustrating it was not to get more feedback when it mattered.
2. Give feedback about negative behaviors via the “sandwich” model of feedback. You start with a positive, offer feedback on the negative behavior, and close with something positive. Even though most of us will focus on the middle, it helps in so many ways to cushion feedback with positives.
Some of you may not agree, and opt to be “brutally honest” with a focus on negative behaviors. In working for 22 sales leaders in my tenure as a technology sales rep, I’d say that the very best of my managers or leaders gave me constructive and supportive feedback. They did not embarrass me, and they were (mostly) respectful. That is what I recommend, and I understand that not all sales leaders do that.
3. That brings us to the last point, which is to give feedback about negative behaviors in private, not in front of the team. Focus on the behavior, not the person. Again, I can reflect on many times when one of my co-workers was yelled at in front of the team – we all laughed, but the rep was humiliated. It did not help his production level or do anything other than give some laughs on his behalf. Take a rep to your office and share what you saw or heard and how it affects the team or the numbers or the company in the big picture.
Have you heard of the Losada Ratio? Happier Human has good insight on how to balance positive with negative for the best results.
One thing is for sure, sales leaders need to be on their toes and ready to offer feedback about someone’s career path – if you don’t know what that is, perhaps you need more input from company leadership. It is a reasonable request to know how my hard work might pay off down the road – whether I want to be a manager or CEO.
Advice to younger sales reps – focus on what is most important for you to get feedback on. Don’t overwhelm your sales leader.
What are your experiences with giving or receiving feedback in sales?
Where did you learn to give good, constructive feedback that helps others?
Do you think people need to be shouted at in front of others to “get” that they goofed up?
Your thoughts and ideas are wanted on this topic. Share what you’ve seen in the corporate workplace – especially in sales teams of yours, past and present.
As Lori says, you can express your thoughts here. Are you the type of person who doesn’t want to hear feedback? Or are you the sales manager who don’t know the proper way of giving feedback? If so, I hope you get something here that you can apply in your work place.
Like you, I love reading materials that help me to prosper with my business and I apply anything that I think fits in. Today, I stumble upon this blog from Insideview which talks about freebie. Who doesn’t what freebies? Of course, we all want freebies and so with our business clients. Often not, business used to choose suppliers who will give them more than the other suppliers do. Reasons are self-explanatory but I want you to read this blog for you to have an idea on how you are going to apply this in b2b sales. I grab the whole post here for you.
By Lisa Fugere
While it isn’t big news that customers like to get things for free, sales pros take note: a new survey conducted by MagicFreebiesUK has found that 60% of consumers purchase a product after they’ve sampled it. It doesn’t matter if it’s a product or service, a free trial can be a significant source of sales.
A psychological component cultivated by most Western societies, called the norm of reciprocation, stipulates that if someone does something for you, you feel compelled to return the favor. When you offer something for free, you initiate the norm of reciprocation and the recipient of the freebie is more likely to buy from you in the future than had you approached him or her with nothing but a promise and a bill.
While freebies come in shapes and prices, one consistent factor remains true for all freebies: the more time that elapses between the giveaway and the purchase event, the lower the likelihood that the reciprocation norm will activate. Therefore, it is important to time your “gift” to allow for adequate sales follow up no later than a week after the free event.
Up to a certain point, the power of the freebie compounds. The more freebies you give out, the more the norm of reciprocity will affect your prospective client. This means that giving out a free email newsletter or a weekly blog post that offers some actionable advice can build up the emotional component that drives sales. A high volume of freebies is ideal, as long as you don’t give away big ticket items. Once you cross the threshold into giving away the products and services that comprise your revenue, you risk sabotaging your sale. If your prospect can string you along until you give them your offering for free, why would they ever commit to buy?
Managing the freebie is the key to its success. When you develop your marketing plan, space out your freebies in the following manner:
The first freebie should be something highly valuable, such as a 30 day trial or a full-sized sample product. If you aim to grow your brand awareness and following, you won’t capture new leads with insignificant offers. If you’re worried that freebies will anger existing customers, put a time stamp on them and limit them to newbies. Don’t forget to offer them a chance to opt in to a newsletter or email campaign to receive more freebies down the road.
The next freebies, which you’ll likely hand out to prospects whose business you’d like to win, should be a series of freebies, rather than just one. The theory of content marketing is built entirely around the concept of freebies; marketers give content away in hopes of drawing in and engaging leads. Use a newsletter to push free content to your prospects, and offer up coupons and helpful tips. If you don’t have a content marketing system in place, you can promote other peoples’ content. Find a content powerhouse that pertains to your customers’ interests and push their content out. Send it personally to the prospects with whom you’re working. We’re all inundated with content these days, and if you can provide something that actually helps your prospects, you’ll earn points in their eyes. And hopefully those points will transform into dollars. At the very least, if your content doesn’t push prospects away, it will get your brand in front of them on a regular basis.
The final freebies, the ones that go to existing customers, should relate directly to your product. Free training, free usage tips, free help guides – anything you can send to your customers to help them find greater success with the products and services you sell to them – will significantly improve your brand image in their eyes, and if your content is good, they’ll get the most out of your products.
The norm of reciprocity is huge in sales, and as MagicFreebiesUK found out, it can have substantial results when used correctly.
After reading this post, are you going to promise that you will be more giving? We have taught by our parents that giving is a good deed and that it is better to give than to receive but what’s best is that when you give freebies you will receive more? Don’t you think that giving is so rewarding? Tell me your thoughts and write it down on the comment box!