Midterm Flashcards
Professional Selling
- developing and maintaining relationships
- meaningful conversations
- problems and solutions
- informed decisions
- about fit or value
drivers of sales performance
- people
- processes
- programs
- tools and technology
what is the ratio of sales reps to sales managers?
7:1
frontline sales manager
- manages individuals
- outward facing
middle-level manager
manages managers
what is the #1 job of sales managers?
make the number!!
top 2 characteristics in a salesperson
- empathy
2. drive
increase number of qualified deals
- hire more sales reps
- hire more sales associates
- improve lead generation initiatives
- improve lead nurturing initiatives
- improve discovery and qualification process
increase average selling price
- sell more higher priced products
- acquire/develop more higher priced products
- sell to larger customers
- price increases where possible
- multiyear deals where possible
- control discounting
improve win rate
- improve discovery/qualification process
- implement repeatable sales processes and best practices
- cover all stakeholders in the decision making process
shorten sales cycle has the biggest effect on performance!!
improve discovery and qualification process
sales effectiveness drivers categories
- definers
- shapers
- enlighteners
- exciters
- controllers
4 positions on org. chart
- inside sales
- outside sales
- VP sales
- chief rev. officer
sales process
- ideal prospect profile
- target markets
- prospecting sources
- prospecting activities and call-to-action
- build a funnel of candidates
STAR
situation
task
action
result
characteristics of sales management roles that make it unique
- can’t watch reps work
- complicated jobs
- global endeavor
- speed of change
5 ways to succeed/win
- focus on customer
- build a great team
- have a consistent approach
- provide the right tools
- listen to your salespeople
gozinto model
- one box has an arrow that goes into another box
- makes managing seem simple
- always one box that falls short
role perceptions
understanding of what they should do
aptitude
mental horsepower (born with them)
skill level
selling related skills (can be learned)
motivation level
desire to start a task, work hard, and persistent when task gets difficult
internal reward
good feeling
external reward
paycheck, raise, etc.
3 ways to determine salesforce sizing
- breakdown method
- -based on estimates of sales volume - build up method
- -based on estimates of selling time - salesperson profit method
breakdown method
- simplest way/done quickly
- may not be most accurate
- estimate best/worst case scenarios
salesperson method
- most complicated method
- each salesperson provides profit to the whole company
- adding additional salespeople will eventually start to diminish the amount of profit per salesperson
- always add another salesperson as long as the profit per salesperson doesn’t decrease
criteria for territory management
- geography
- product/service time
- market/customer type
- create different customers by industry
- selling methods
big territories
- lots of travel time
- high workload
- end result is complaints from representatives and customers
small territories
- limited opportunities
- overly aggressive with customers
5 tests to evaluate if your territories are correctly sized
- customer test
- rep morale test
- selling activity test
- competitors
- financial tests
customers
pay us
–can be consumers!!
consumers
use our product
direct channel
- consumer is the customer
- simplest sales channel
- service, delivery, and support
- used for large customers
- online catalog for small customers
intermediary channel
- consumer is NOT the customer
- hold larger assortments for buyers
- consumers have better overall experience
steps to hiring
- who’s in charge of the hiring decision?
- how may people to hire?
- conduct a job analysis and prepare a detailed job description
- what sources will you use?
- specific steps to select candidates
- tools to rate candidates
poor job description
- too broad
- long paragraph on company
- college degree
- 3-5 years sales experience
- hardworking
- competitive
- persistent
quality job description
- more specific
- saves you time
- guides the rest of the hiring process
- legal protection
personal agility
- the attribute closely aligned with success across all levels and roles
- respond effectively to feedback
- grow their personal talents
- acquire new skills quickly
- setbacks = learning opportunities
what to look for in interviews
- context/background of situation
- steps/processes used to address the situation
- outcome/results of the experience
4 most common misses when it comes to onboarding
- preparation miss
- selection miss
- early days miss
- management miss
preparation miss
- frontline manager is responsible
- unclear expectations
- inconsistent coaching
- insufficient resources
selection miss
- wrong individuals
- missed key signs
early days miss
disconnect with new hire
management miss
engagement to role and business
3 C’s of onboarding
- capability
- connections
- commitment
capability
- shorten time to productivity
- define what good looks like
- customize plan
- apply coaching to inspire
connections
- help new hires build connections
- mission and purpose
commitment
- more likely to remain with organization
- positive business results
2 parts of success for new hire
- what
2. how
expectancy
- belief of a salesperson
- effort = performance
- trying harder = selling more
- lower sales yield low expectancy levels
intrumentality
- link between performance and rewards
- higher performance = greater rewards
valence (for reward)
- how much they like the reward
- fair compensation system
- desirable reward = work harder to gain reward
3 things salespeople must believe about their jobs
- try harder = perform better
- perform better = more reward
- must value reward
OR - salespeople who believe they can do it…
- … will try hard …
- …when they value the reward
4 common sales training mistakes
- assuming sales and product training are the same thing
- sales managers are neglected or it’s assumed they already know how to coach
- overemphasis on the content in the sales training process
- only using financial performance to measure effectiveness
good sales training seeks to achieve 3 objectives
- provide basic knowledge of what good sales techniques even are
- have reps apply these techniques
- have reps diagnose their efforts
4 questions to ask when measuring the success of a sales training program
- did the sales training improve the attitudes of the reps that went through it?
- did the sales training improve the basic knowledge of the reps?
- did the training change the way my reps go about their day-to-day activities?
- can we see higher performance in our sales reps due to the completion of our training program?
2 problems heard with selling training programs
- what
2. when
