Are you performing your web sales presentations as those previous to the pandemic? If so, you are not taking advantage of the technology or compensating for the disadvantages. I spoke with a salesperson recently who said she is finding it difficult to monitor buying signals now that she cannot see the attendees’ reactions and body language that she previously was able to observe....
I have been in sales for a long time and have still not met a successful salesperson who enjoys prospecting, especially cold-calling. The top 7 reasons most often cited are: 1) it is a waste of time; 2) the list of prospects that I am working from is out-of-date and worthless; 2) it is difficult to reach people by telephone; 3) I leave voice messages, but never receive return calls; 4) I do not like rejection; 5) I do not know what to say when I reach somebody; 6) I do not like being told what to do, and 7)...
The answer is – not quite, but it is on life support. The pandemic has completely changed our buying and selling behaviors. We have reach an inflection point and are now transitioning to a “new normal” in selling -- and this is a transformation that is as predict that most companies will continue to schedule most sales meetings via web video-conference, rather than in-person. This will occur in part because we have become more accustomed and proficient with it, but mostly because of cost considerations and fear of spreading the virus. If a company can save money on travel expenses they...
A “quota sloth” is a salesperson that does not focus on the tasks necessary to fill a pipeline of prospects at all stages. Quota sloths are usually capable salespeople and may be ahead of quota at various points in the year, but then either just focus on closing business or slack off. I managed salespeople that rode the fluctuating wave of being over quota and then under quota and then usually panicked at the end of the year to achieve their sales target. ...
Maybe you’re the #1 salesperson in your organization. You always meet or surpass your quota. You make more money than 80% of your peers, because just like the old Pareto Principle says, you’re in the 20% of superstars at your company. The others envy you and you know it. Secretly, it makes you chuckle as you drive out of the company parking lot in your luxury vehicle and see the others green with envy in your rearview mirror....
Have you ever called on a prospect that showed genuine interest, provided access to decision-makers, stated they had the budget to proceed and promptly returned all of your calls – but has not yet purchased from you? The prospect passed all of the markers of a “qualified prospect.” Perhaps they were even a match to your “ideal customer profile.”...
Many salespeople have difficulty competing against the challenging decision by a buyer to not make a purchase and remain with the current solution. The decision may be to 1) do nothing, stay put, or accept the status quo, or 2) continue with the current supplier. How should a salesperson best compete against those two options?...
Is the cost of doing nothing or remaining with the status quo really zero? Certainly, there may be times when the cost of remaining with the current situation, system or arrangement is zero, but that is the exception, not the rule. In classical economics we learn that an opportunity cost is the value of an alternative that you did not choose when a decision is made or simply what is sacrificed in order to get something. So, remaining with the status quo is not likely to be zero....
The good news is that you have recognized that you are a “Quota Sloth.” You recognize that you tend to let your pipeline building and business development activities slide while you keep busy trying to close sales, follow up with prospects – and perhaps even take it easy. You know that the law of the “mathematics of the pipeline” tells you that you have insufficient deals in your pipeline to achieve your annual sales target. In addition, you are staring at the possibility of several months of little or no sales because you have not been adding fresh prospects to...
Does a corporate prospect purchase a product because they are thrilled with the features and functions of a product that your team has demonstrated? Is it because they have an immediate need to fix a problem? Or maybe an executive needs to accomplish a strategic goal this year? It could be any of these reasons your prospects buy – or none of them....