- Got something to say?
- Running a small firm? Who holds you accountable?
- Marketing & Sales Success Begins with a Simple Step… Thinking!
- Your Sales Forecast Doesn’t Have to be a Guessing Game!
- Lead generation is a 3-step process.
- Measuring Sales… it’s Not just about Revenue
- 7 Selling Behaviors Seller-Doers Must Employ to be Successful.
- Can you really be “all things to all people?”
- 12 Marketing & Sales Activities you Gotta STOP this Year!
- How to maximize the impact of your marketing investment.
- Revenue Growth? Try the ‘5% Challenge’… it’s Brilliant!
- Should you ever walk away from revenue?
- Get Ready for 2017 with these 6 Marketing & Sales Activities
- 20 Marketing and Sales Concepts Business Leaders Need to Know, Part 2
- 20 Marketing and Sales Concepts Business Leaders Need to Know, Part 1
- 10 Guidelines for How to Be Successful at Sales
- Strategy Before Tactics!
- 6 Marketing & Sales Lessons Learned in our First 4 Years in Business
- The Sales Presentation: Stop Reading the PowerPoint Slides and Tell Your Story
- Content Marketing not working? Eh, don’t worry about it!
- Marketing Measurement: 3 New Methods You Have to Try in 2016
- The One Thing You Must Include in Your 2016 Marketing & Sales Plan
- Not using LinkedIn? Are you kidding me?!
- Is it OK to fire a client?
- Take Charge of Your Own Success… Stop Relying on Others!
- Getting first-time clients to take a chance on you.
- 9 Ways to Build your Business During the Summer Slowdown
- The Top 10 Ways to Build Awareness
- The 13 Most Common Website Mistakes
- The Most Important Part of Exhibiting
- Content marketing isn’t a one-time thing… it’s an all-the-time thing.
- THINKING! A framework for creating better business plans in 2015.
- Not happy with your marketing & sales? Then make just one change in 2015!
- For Beginners: Should I Tweet Daily? Yes… and here’s how.
- Got your Marketing Plan for 2015? No?! Now’s a good time to start…
- How to Connect with Booth Visitors – An Exhibitor’s Worksheet
- Not getting the email results you want? Make sure you’re following these 7 email marketing guidelines.
- 10 Ways to Get Clients to Sell FOR You (and they won’t cost a dime!)
- Do you know where you’re going? Why Strategy should drive your marketing & sales.
- 11 execution tips to help you exceed client expectations
- How to Turn First-time Clients into Repeat Clients
- 15 easy, low-cost marketing and sales tactics for 2014 – Part 2
- 15 easy, low-cost marketing and sales tactics for 2014 – Part 1
- 13 Lessons for Researchers Who Don’t Want (or Like) to Sell
- Social media marketing success in 30 minutes a day
- Get it right! You can’t manage what you don’t measure.
- It’s not that complicated! A common sense approach to the marketing & sales process.
- How MR firms are blowing it with new customers: Lessons learned while secret shopping
- Management or sales… you can’t serve two masters.
- Prove it! Nine ways to convince prospects to work with you for the first time.
- Five everyday ways to grow your business
- How that ‘one great client’ could doom your firm
- Six marketing and sales mistakes MR firms make every day
- Eight proven ways to build awareness – and why you should!
- Suspects, Prospects and Clients: Is your firm focused on the right target?
- A Checklist for Conducting Your Own Marketing & Sales Audit
- Learning to play the game: What football can teach us about marketing
- Differentiating your firm in a crowded marketplace
- 25 low- or no-cost ways to grow your business
- 15 Reasons E-mail Still Matters in Sales and Marketing
- Come prepared, dress the part and follow up: 10 dos for exhibiting at MR trade shows
- No rookies, no gum and no Frisbees: 10 don’ts for exhibiting at MR trade shows
- How to see yourself as clients see you
- Marketing 101: It takes Work to make it Work
- Use the 8 Ps of Marketing when Setting Strategy
- Integrate the 4 As of Marketing into Your Planning
- Size Does Matter: 4 Approaches to Growing Your Business
- The 12 Guiding Principles of Marketing (part 2)
- The 12 Guiding Principles of Marketing (part 1)
Measuring Sales… it’s Not just about Revenue
In my first sales job after college (many, many, many years ago), my first Vice President once said to me, “I don’t care how many sales calls you make… as long as you hit your sales goal.”
And for him – because he was being judged on revenue – that makes perfect sense. But for the day-to-day management of salespeople, that’s a bad way to manage. Let me explain…
While the end goal is, of course, to generate revenue… it’s the steps in the process they get you there. Make no phone calls, send out no emails, deliver no capabilities presentations… and you’ll generate no revenue. So clearly, sales activity is critical to sales success!
That means that one of the first directives of sales management is to help to develop the various sales activities of each of your salespeople. The better they can be at each of the specific tasks, the more successful they will be in the end.
Take a look at the chart below which describes a simple sales process: telephone calls result in being invited in for capabilities presentations… which result in requests for bid… which result in new contracts. I realize that a real sales process is not that simple, but it helps with this explanation…
All three of the sales reps shown above started with 100 phone calls and ended with 10 new contracts… but they each got there in a slightly different way.
In this example, 50% of sales rep A’s telephone calls resulted in in-person capabilities presentations. Better than either of the other two sales reps.
Sales rep B was clearly the most skilled at delivering capabilities presentation… 63% of his presentations resulted in a bid request.
And sales rep C’s strong suit was obviously in putting together bid packages… with 50% of his packages resulting in wins!
Now, as the sales manager, imagine what would happen if you could get the top level of productivity from all of your sales reps with each of the different sales activities? That would mean, in this case, that 50% of all calls would result in capabilities presentations… 63% of all capabilities presentations would result in bids… and 50% of all bids would result in wins!
If, in fact, that happened… in this scenario, you would not end up with 10 new contracts… but, instead, would end up with 16 new contracts! A 60% increase in new business!
So, how do you make that happen? The key is that, from day one, you are tracking ‘sales activity.’ You must be measuring all of the specific steps in the sales process. So, in the example above, the sales manager is tracking phone calls, number of capabilities presentations, number of bids requested and the number of wins. Depending on your business, that list can certainly be different… it may include things like software presentations, networking leads, emails sent, etc.
Once you begin to collect this data over time, then you can begin to see who the best sales reps are at each of the various sales activities. From that point on, it’s easy to get the sales reps teaching and training each other.
But what if you only have one sales rep? Clearly, a more difficult challenge, because there are no other reps available for comparison and cross-training. For the singular sales rep, it is still critical to keep an eye on the various sales activities and work to improve the skills of that sales rep in each of those categories.
For example, if 20% of the solo sales rep’s phone calls result in capabilities presentations… what can you do to get that to 25% or more? And while you may have no ‘best case’ examples to learn from other reps, there is still the opportunity to train and practice and rehearse so that the sales rep becomes as good as he or she can be.
More than any other position in a company, salespeople hate to be micromanaged… and so, the whole concept of having all of their various sales activities measured will not go over well with them. But, if they understand the big picture… that this measurement is a way for you, as the sales manager, to improve their skill set… in the end, their outcomes – and their paycheck – will be enhanced.