8 Structures of Accountability Flashcards
What are structures of accountability?
Structures put in place to strengthen and maintain a positive culture of accountability.
What are the two paths to failure in revenue growth?
- Not creating enough new opportunities and new clients
- Not winning enough of them
What is self-reporting in the context of accountability?
A requirement for salespeople to report their own results and progress.
Why can relying on technology for tracking sales activities be a mistake?
It prevents accountability and allows salespeople to avoid confronting their lack of activity.
What is a major mistake regarding accountability in sales?
Allowing salespeople to avoid reporting their own results.
What should be required in weekly individual meetings to enhance accountability?
Salespeople should report their own results.
What is the purpose of the weekly pipeline meeting?
To create accountability for generating new opportunities and reporting results.
What are the two main focuses of a weekly pipeline meeting?
- Accounting for new opportunities created
- Sharing deals that moved forward
Why is Monday at 4:30 p.m. the best time for a pipeline meeting?
It’s at the start of a new week, allowing salespeople to account for their previous week.
What is the consequence of allowing a salesperson to go too long without prospecting?
They risk significant loss of opportunity and revenue.
What is the role of territory and account plans in sales?
To guide salespeople in prospecting and creating new opportunities.
What should an account plan include?
- Current purchases by existing clients
- Ideas for improving client results
- Identification of key contacts
- Insights for proposing changes
How should a territory plan be structured?
- Rank clients by revenue
- Identify necessary contacts
- Capture insights for meetings
What is the importance of creating new value for existing clients?
It is the best retention strategy and helps prevent loss of revenue.
What is a prospecting sequence?
A set of communications using multiple mediums to engage potential clients.
What is the first principle of a prospecting sequence?
Phone first, meaning to prioritize making phone calls.
What is the second principle of a prospecting sequence?
Let them hear your voice, which involves leaving a voicemail every time.
What should a salesperson say after making a call to a client?
They will call the client back the next day.
What are ‘no ask’ communications?
Communications that provide value without asking for a meeting or response.
What is the benefit of having a professional prospecting sequence?
It emphasizes patient, professional persistence and helps salespeople stay top of mind.
What does an effective prospecting sequence prevent?
Long gaps between attempts to acquire meetings with potential clients.
What is the purpose of the Quarterly Internal Business Review?
What must salespeople do to stay ‘top of mind’ with their clients?
Provide insights that show they understand the client’s challenges, problems, and obstacles
Staying relevant to clients involves proactive engagement and demonstrating awareness of their needs.
What is the purpose of a prospecting sequence for a sales team?
To increase activity and position team members as consultative experts
A well-structured prospecting sequence can lead to more effective client interactions and opportunities.
