CRMs & Reporting: Measuring results against efforts and objectives is one the most important activities we as business owners carry out. This is also true of our sales and marketing teams, both individually and collectively. To work without measuring our results is akin to walking blindfolded into a dense forest looking for prey. It’s much more likely that we’ll become prey before we find it under those circumstances. We are often asked, “Should we use a CRM and if so, which one is best?” The answer is that a CRM is critical to your organization’s repeatable and ongoing success. As to which one, well, it’s not the brand that’s important. What is important is to ensure that the entire team including management becomes completely fluent in using. When analyzing the results of the organization per the sales program, marketing campaign or sales executive – the CRM is the tool that can provide this critical data instantaneously. This is not only important in staying on course but... Read More »
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The Importance of Ongoing Sales Planning Part 2 Written by Bob Huck The second component of a Sales Plan is development of an operational plan for each rep. An initial step in this process could be producing an opportunity matrix. Other elements include developing a customer contact schedule to ensure existing customer are well managed. Where new revenue is paramount the plan should provide a list of target markets and strategies to assist the rep with new business development. Other tactical components include strategies to reach the market such as trade show participation, business partnerships, organizational memberships and training and development. The third component is dev eloping revenue and non-revenue objectives. While most small/medium companies are focused on revenue, non-revenue objectives should not be ignored. Revenue objectives typically drive short-term behaviours, while non-revenue objectives will drive long-term behaviours. Both are critical to overall success.... Read More »
Importance of Ongoing Sales Planning Part 1 Written by Bob Huck In all organizations the development of an annual sales plan positions sales reps and the organization for success. Sales’ planning is an ongoing component of most large organization, but is often missing in small and medium sized companies. It could be argued that a sales plan is actually more necessary in small companies as they may not have a dedicated sales manager and marketing team to support the field sales reps. An effective sales plan serves to provide direction, consistency and motivation for the sales reps. It should also provide other parts of the organization with a solid understanding of what is actually happening in Sales. The plan needs to have both a strategic and a tactical component. The strategic element will identify strengths, weaknesses, opportunities and threats to the organization. The tactical component seeks to provide an operational plan for each sales rep. The plan will also establish ongoing... Read More »
80/20 Rule You’ve no doubt heard this expression hundreds of times as it can apply to so many areas of our lives and business. When it comes to, “Sales”, its meaning is poignant and in fact critical for any business to understand. For customers as the saying goes, only 20% provide 80% of your revenue. For Sales or Account Managers, again – only 20% provide 80% of your revenue and or growth. It’s the sales or Account Managers that I wish to speak to in this blog. While, “Jim Pattison”, may have been seen as harsh with his system of firing the bottom performers of his sales staff every month-end, hard to argue the success. In fact, a process of weeding your sales garden on a regular basis will have a dramatic impact on your sales results as an organization. Furthermore, for those for whom “Sales” is not a good fit, you will be doing the right thing for them as well. The fact is that Sales is not for everyone and a lot of folks fall into it rather accidentally. There are a few ways to achieve this weeding process: A) Have a well structured CRM that monitors and shows progress against targets and objectives. The use of this CRM needs to be a mandatory requirement for all Sales or related staff. B) Always have a commission or bonus worked into the compensation package so as to motivate your team appropriately C) Ensure that your team members continue to develop their skills and be supportive of this process. This while being aware of those doing so as opposed to those “floating”. D) Review performance quarterly at a minimum, preferably monthly. As long as your CRM is providing good information – managing a sales team is made much more effective and simplified. The key is to set up standards and systems that allow the individuals to see for themselves where their results and performance are relative to where they need to be. From this perspective, managing becomes much easier as expectations are clearly defined. Of course there are many other factors that go into creating a successful sales program, but if those weeds are allowed to go to seed, than your program will quickly be overrun with mediocrity. We welcome your experiences and questions about managing and building your sales team. So feel free to comment on this as to your experiences or questions. Read More »
80/20 Rule
You’ve no doubt heard this expression hundreds of times as it can apply to so many areas of our lives and business.
When it comes to, “Sales”, its meaning is poignant and in fact critical for any business to understand.
For customers as the saying goes, only 20% provide 80% of your revenue.
For Sales or Account Managers, again – only 20% provide 80% of your revenue and or growth.
It’s the sales or Account Managers that I wish to speak to in this blog. While, “Jim Pattison”, may have been seen as harsh with his system of firing the bottom performers of his sales staff every month-end, hard to argue the success.
In fact, a process of weeding your sales garden on a regular basis will have a dramatic impact on your sales results as an organization. Furthermore, for those for whom “Sales” is not a good fit, you will be doing the right thing for them as well. The fact is that Sales is not for everyone and a lot of folks fall into it rather accidentally.
There are a few ways to achieve this weeding process:
A) Have a well structured CRM that monitors and shows progress against targets and objectives. The use of this CRM needs to be a mandatory requirement for all Sales or related staff.
B) Always have a commission or bonus worked into the compensation package so as to motivate your team appropriately
C) Ensure that your team members continue to develop their skills and be supportive of this process. This while being aware of those doing so as opposed to those “floating”.
D) Review performance quarterly at a minimum, preferably monthly. As long as your CRM is providing good information – managing a sales team is made much more effective and simplified.
The key is to set up standards and systems that allow the individuals to see for themselves where their results and performance are relative to where they need to be. From this perspective, managing becomes much easier as expectations are clearly defined.
Of course there are many other factors that go into creating a successful sales program, but if those weeds are allowed to go to seed, than your program will quickly be overrun with mediocrity.
We welcome your experiences and questions about managing and building your sales team. So feel free to comment on this as to your experiences or questions.
Exponential Sales provides business development, sales development and marketing development to deliver result driven sales. Our hands-on approach and process to executive sales management, sales team creation, market intelligence, marketing implementation, strategic planning and business intelligence gathering, keeps our clients business growing.