White Papers – Professional articles for sales professionals
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2010 Miller Heiman Sales Best Practices Study - Exec. Summary 623 KBDriving Sales Results in Any Economy
2011 Miller Heiman Sales Best Practices - Exec. Summary 3.0 MBEagerly Awaited by Insiders: Miller Heiman publishes the Executive Summary of the Sales Best Practices Study 2011- Sales Strategies for thriving in a Post-Recession Economy
Active Sales Controlling 277 KBControl cost, sales time and resources by lining up your sales opportunities along a structured sales process. Use your best resources for the best opportunities which have best chances to be closed successfully. Do not use any longer resources for projects which you lose after a long sales cycle just before the deal is closed.Read a white paper which puts you into a position to establish a turn key system within your organisation and which leaves no question open.
Beyond Passive Resistance: Motivating Salespeople To Adopt Change 71 KBBeyond Passive Resistance: Motivating Salespeople To Adopt ChangeThe market constantly changes, and any agile, growthminded sales organization recognizes the necessityof changing along with it. However, no matter how innovative and effective the projected change may seem,individuals must implement it in order for the initiative to be successful.
Bob Miller – Co-Founder of Miller Heiman Inc. How to Build a Top-Notch Sales Force 670 KBIn his typically precise and straight-forward manner, Bob analyzes what is necessary to build up a Top-Notch Sales Force starting from hiring the best and most suitable people, training and coaching them in the right way and avoiding common pitfalls in managing them. Read more about the attitudinal qualities he sees mandatory for a good salesman and how to develop the right profile for new candidates. Follow his advices how to keep them motivated, develop them to top performers and retain them within your organization.
The Best Practices of today’s Sales Management - Read now
Choosing and Working With Strategic Accounts 262 KBWhen you work with a regular account, you provide a widget or service and get paid for doing so. The only connection between your company and the company to which you sell is that widget. So, when another company comes along that sells a widget or service for a few pennies less, the company to which you sell will probably turn around and buy the cheaper one instead, resulting in lost business for your company--which you’ll have to make up for by replacing this lost business with a new account. And, the cost of replacing an account is ten times more than keeping an existing customer.
Connect With Executives 219 KBSales professionals admit that nearly half of all opportunities are lost as a direct result of not winning the approval of the senior decision-maker. Miller Heiman research shows that senior-level executives say that most sales professionals are ineffective at getting them to say “yes” to their proposals. Research also revealed that scrutiny involved with approving proposals has intensified while buying processes have become more complex, with decision-making responsibility moving higher in the organization to the executive level, making it more difficult to sell.
Cracking the code to Winning Government Contracts 169 KBLike most sales leaders, you’ve probably thought about pursuing lucrative federal government contracts. But if you have ever responded to a government Request For Proposal (RFP), you may have found it overwhelming in its technical detail, loaded with obscure criteria you weren’t sure you could meet, and filled with prices so low that you doubted you could break even.
Cross-Selling and Up-Selling 103 KBWINNING SALES ORGANIZATIONS “SELL SMART”It can cost four times as much to sell to a new customer as an existing one. By taking advantage of existing relationships and ongoing contacts with customers, companies can sell more products and services, reduce the cost of sales, and enhance customer loyalty.
Cross-Selling and Up-Selling 1.1 MBFind Hidden Revenue by Cross-Selling and Up-SellingIt can cost four times as much to sell to a new customer compared to an existing one. By taking advantage of existing relationships and ongoing contact with customers, companies can sell more products and services, reduce the cost of sales, enhance customer loyalty, and drive revenue.In this issue are featured tips on Cross-selling and Up-selling. These articles define what cross-selling and up selling really mean; address the correct timing and key steps for successful cross-selling and up-selling; and discuss how these can help you bring dormant accounts back to life.
Dealing with the Sales Talent Shortage 202 KBThe sales talent shortage: It can result in difficulties ranging from high turnover to lost revenue. It’s a reality many organizations face right now, and the problem only promises to expand in coming years. According to Bill Golder, Sales Vice President for Miller Heiman, there are three drivers for the sales talent shortage: demographics, commoditization and the specialization of sales organizations.
Defining Sales Talent Management: An HR Execs’ Approach 224 KBFreescale’s 2005 revenues totaled $5.84 billion on the back of a 900-person sales team promoting its semiconductors in an ultra-competitive market.Freescale accomplished its goals, in part, by bucking many negative sales talent management trends. While 63 percent of respondents to Miller Heiman’s Sales Performance Study report they do not have an effective process for hiring qualified sales professionals, Freescale has a proprietary model. And, while only 45 percent say they benchmark the traits of their top sales performers to help make hiring decisions, Freescale has identified 11 core competencies. What’s more, despite increasing turnover at many corporations, Freescale has not lost any of its top sales executives in the past year, giving it a clear advantage amid a dearth of qualified sales talent.
Driving Your “B” Players to the “A” Team 67 KBTop performers make a company work. It’s more than their impact to the bottom line; it’s the way they work for an organization as a whole - whether it’s by taking on a leadership role, or developing honest relationships with customers.When you have top performers, they “generate a lot of energy, enthusiasm and excitement. They help fuel a healthy culture,”says Bill Golder, sales vice president for Miller Heiman, Inc.
Fast Forward: Process + Dialogue = Successful Negotiation 224 KBWhen you speak with someone who isn’t aware of the way in which negotiation plays a part in the sales process, he might describe a scenario like this: Two people sit across a table from one another, eyes locked, fists balled, neither of them willing to give an inch--because each knows that, in the end, one of them will not get what he wants. Of course, that kind of “negotiation” gets you nowhere.
Five Steps to Successful Sales Negotiations 149 KBMake Each Sales Negotiation Successful.While there are a number of approaches used by salespeople, successful negotiators know the power of a collaborative approach, with gains for everyone. They know they need to see things from the other person’s perspective, to work jointly with the client to create agreements that truly satisfy the critical interests of everyone involved.
Funnel Management 270 KBMiller Heiman’s award-winning Sales Performance Tips (formerly Miller Heiman eTips) have been helping serious sales professionals around the world win business since 1998. Miller Heiman’s newest white paper series “Best of Miller Heiman Sales Performance Tips” includes carefully selected tips that address a pressing topic faced by sales professionals.
HBR Reprint Changing The Way you Persuade 154 KBManagers typically use a one-size-fits-all approach when trying to influence their bosses and colleagues. New research shows that's a mistake. Persuasion works best when it's tailored to five distinct decision-making styles.
How Sales Leader Can Ensure Forecast Accuracy 265 KBAttitudes about forecasting can differ radically from organization to organization, and even within organizations. Some perceive forecasting as nothing more than making a wild guess; others realize that buy-in to accurate forecasting is critical to the overall success of the organization. It’s not about gut feelings. It’s about science, disciplined thinking and planning.
Landing Big Deals 250 KBHow lean is your funnel? Do you have the ability to focus and fine-tune your time allocation? Those are necessary skills when it comes to closing big deals: They take attention, effort and confidence-and a well-defined process and strategy to bring them in.There are certain steps you can take for more consistent success.
Learn From Losing Golder 621 KBEveryone who has ever been in sales can remember the feeling of winning their biggest deal. In business, there aren't many things like winning a big deal that can create that kind of excitement and triumph to an organization. But when it comes to the deals that got away, most individuals - and organizations - seem to have amnesia. In fact, it's amazing how quickly we all move on without another word on lost deals, as if they never existed. The irony is that these deals typically took longer and used more resources than the ones we won.
Leveraging Sales Talent 466 KBThis article is based on a executive-level presentation presented by Al Rainaldi, executive vice president of Profiles International, to an audience of Miller Heiman clients during the 2005 Miller Heiman User Conference, held October 12-14 at Lake Tahoe, USA. Miller Heiman and Profiles International have partnered to develop a series of benchmarking and assessment tools designed specifically for sales organizations. These tools, when used collectively with Miller Heiman sales processes, help develop and support enterprise-wide sales systems for consistently finding, winning, and keeping profitable business.
Levers for Strategic Planning 447 KBBy Sam ReesePresident and CEOWe’ve barely crossed the threshold into autumn, but it’s time to think hard about next year. Although the change of calendars is still a few months away, right now is the right time for intensive growth planning and strategizing. That way, when January rolls around, you and your sales team can hit the ground running.Of course, that’s easier said than done. Many organizations rely on inadequate, fragmented methods of preparing for a future that will be here all too soon. Often, the biggest problem is the large gap between those working up from the bottom-that is, the field team-and those working down from the top-the corporateleadership team. The field tends to forecast conservatively, worrying about actually making its numbers. Leadership, on the other hand, is usually more generous with its projections because it’s rewarded for its overall sales wins.
Life Beyond the Product Pitch: Why Customers Really Buy 384 KBMost would agree that it’s easier to win new business from a satisfied customer than it is to acquire a new client. Both present plenty of challenges, but by focusing on our client’s “concept” of what they want to fix, accomplish or avoid, we can greatly improve our win rates for new business and generate continued added value for our existing clients.
Making An Impact With High-level Executives 205 KBMiller Heiman’s award winning Sales Performance Tips (formerly Miller Heiman eTips) have been helping serious sales professionals around the world win business since 1998. Carefully selected tips are featured in Miller Heiman’s newest white paper series “Best of Miller Heiman Sales Performance Tips”. Each paper includes 3 to 5 tips that address a pressing topic faced by sales professionals.
Megatrends 169 KBNo question about it: The business landscape is changing dramatically, and smart sales organizations need to change with it.Major trends—think of them as “megatrends”—in four key categories are driving that shift. Those categories are:• Demographic• Technological• Regulatory• Social
Miller Heiman Sales Best Practices Study Exec Summary 2005 368 KBWhat does it take to be a successful selling organization in today’s marketplace? That’s the question recently posed to a global audience of sales professionals during Miller Heiman’s annual sales effectiveness survey, conducted in the Fall of 2004. Receiving more than 3,400 responses, Miller Heiman initiated a research effort to isolate specific challenges and opportunities facing sales organizations throughout the world. Benchmarking data against the previous year’s results, the 2005 Miller Heiman Sales Effectiveness Study is considered one of the most comprehensive, statistically valid studies of its kind.
Miller Heiman Sales Best Practices Study Exec Summary 2006 206 KBWhy Sales Performance Research?For the past 3 years Miller Heiman has undertaken a comprehensive annual research study of sales practices, success metrics and Winning Sales Organizations (WSOs). Over this time, more than 7,000 sales professionalshave participated in the study, making it the largest continuous research project dedicated to sales performance in the world. Participants benefit by gaining access to information and insights we feature in our publications. Even more significantly, the research results support benchmarking exercises that enable companies to understand how they compare to their peers and how they can better identify areas for improvement.
Miller Heiman Sales Best Practices Study Exec Summary 2007 267 KBOver the past four years, Miller Heiman has been surveying sales professionals from thousands of companies around the world, collecting and analyzing data, and learning why some sales organizations consistently outperform others. The study, in which more than 13,000 have participated to date, includes sales representatives, managers and executives involved in complex, business-to-business sales. It is considered the world’s largest ongoing study of complex business-to-business practices and performance.
Miller Heiman Sales Best Practices Study Exec Summary 2008 482 KBEvery year for the past five years, Miller Heiman has surveyed sales professionals – executives, leadersand representatives – to better understand what differentiates the most effective sales organizations.This global study contains the input of more than 17,000 participants to date and is considered the world’s largest ongoing study of complex, business-to-business selling and sales management practices.
Negotiate 296 KBAt Miller Heiman, we understand that complex sales situations must be navigated by salespeople who know how to successfully handle every challenge – from overcoming objections in difficult negotiation scenarios to achieving win-win solutions that fit both parties’ interests and needs.This paper includes four articles that address the negotiating challenges faced by sales professionals.
Negotiate for a Win Win 145 KBIf there’s one thing everybody knows about sales, it’s that serious negotiation starts when you and your customer or prospect sit down together to close a deal. Right? Think again. In any successful negotiation, the real work begins long before either party comes to the table.
New SVP Survival Guide 389 KBWith the intense pressure placed on sales leaders, it’s not surprising that a sales vice president’s average tenure is brief. Given this statistic, chances are you are either new to a sales leadership role or will be in the next few quarters, whether through a promotion or a new position with a new company.Moving into this role can be as exciting and rewarding as it is difficult. Whether this is a challenge you are currently facing or a position you aspire to reach, I encourage you to review the areas we consider most critical for sales leaders to focus their attention on during the early stages of a sales leadership role.
Panel Discussion: Strategies To Retain Top Performers and Manage Sales Talent 105 KBStrategies To Retain Top Performers and Manage Sales TalentEditor’s note: Following is an abridged transcription of a recent panel discussion about more effectively managing sales and recruiting and retaining top performers. Dario Priolo, EVP of Corporate Development at Miller Heiman leads the conversation.
Phone Prospecting Strategies 97 KBIn this issue, we focus on a necessary exercise required of “hunters” and business development professionals that they dread doing – calling a prospect. With telemarketing on the rise and an increasing number of people screening their incoming calls, phoning a prospect and hoping to get an appointment with him or her require new techniques.
Priorities for Sales Managers 71 KBPressure on front-line sales managers to be close to each and every deal is stronger than ever. The challengeis determining where sales managers should focus their attention to provide the greatest value. In short, salesmanagers must prioritize.
We’ve put together a list of the top five things sales managers should be watching for as they review the opportunities being worked by their teams. Providing focused coaching to keep the sales team managing toward a closed sale will help sales managers make the biggest possible impact on results.
Process Excellence: Inject Science into the Art of Selling 650 KBBethany Schultz, Miller Heiman Inc.: Process Excellence: Inject Science into the Art of SellingStandards and process permeate nearly every functional area in business, from accounting, finance and operations to IT, human resources and now, even marketing. And for good reason. Processes and standards enable management to control the controllable so they can focus attention and resources on the more difficult issues that stagnate sales and revenue and disappoint shareholders. Standard process drives predictability, consistency and efficiency, and when properly integrated across the organization, radically improves sales performance.Despite the tremendous benefits that standards and process can deliver, sales organizations have been much slower than other disciplines to move down this path. …However, the transition from “art” to “science” in sales is not easy. It requires a sound foundation, strong commitment and precise coordination for widespread cultural adoption. That’s the big challenge.
Prospecting Guide 233 KBThe Miller Heiman Prospecting Guide Best Practices for Maximizing New Business DevelopmentHow often do you spend time prospecting for new business opportunities?Consistent prospecting is vital to a sales professional’s success and the success of the whole salesorganization. If you’re not paying proper attention to the sales that need to be closed, the sales that needfurther development, and the new opportunities available to be plucked from the universe, your funnel’shealth will decline and you’ll never make your quota.
Prospecting Techniques 109 KBThis issue features three articles that focus on the critical steps required to be successful at prospecting in today’s selling environment; some helpful advice to win more business by pursuing only those opportunities that reflect the qualities of your ideal customers; and tips to help you identify and access the senior-level decision maker in your sale.
Putting Large Account Management to the Test 246 KBMiller Heiman’s Vince McFarlane knows what it feels like to be a high-performance driver. Just before joining Reno, Nev.-based Miller Heiman Inc., he led a multi-functional Burger King account team at Coca-Cola Fountain. Revenue raced ahead at an unprecedented 32 percent compounded growth rate over a “lap length” of two years under his direction.
Re-engineering for success: From static to dynamic growth in 5 years 88 KBAustralia’s largest software developer, Mincom reported the best-ever profit in its 27-year history, marking aturnaround in its fortunes. Revenues at the company, which provides business solutions to asset-intensiveindustries like mining, utilities, defence and government rose by over 20 percent in 2006 to $199 million – oneof the highest levels of organic growth in the industry. Growth in its two main revenue streams, software andconsulting, was particularly strong, boosting profits before tax to a record $11.3 million.
Rubber Meets Road: Putting Large Account Management to the Test 246 KBMiller Heiman’s Vince McFarlane knows what it feels like to be a high-performance driver. Just before joining Reno, Nev.-based Miller Heiman Inc., he led a multi-functional Burger King account team at Coca-Cola Fountain. Revenue raced ahead at an unprecedented 32 percent compounded growth rate over a “lap length” of two years under his direction.
Sales Management Guide 331 KBOver the course of my career, I’ve had the privilege of personally working with several great sales managersand also seeing many examples of effective sales leadership in our client organizations. I’ve seen the impact that a great sales manager can have on an organization, and I’ve also seen how quickly a corporate strategy can fall apart without this vital leadership.Sales management may be one of the most critical roles that influence the success of an organization. Youare closest to two important corporate assets: customers and the sales team. The impact of an effectivesales manager can be felt throughout an organization. Unfortunately, the same holds true for those whoseattempts are not meeting expectations.
SBPS ExecSumm Europe 2008 493 KBEvery year for the past five years, Miller Heiman has surveyed sales professionals – executives, leadersand representatives – to better understand what differentiates the most effective sales organizations.This global study contains the input of more than 17,000 participants to date and is considered the world’s largest ongoing study of complex, business-to-business selling and sales management practices.Our findings have helped many organizations revisit their sales strategies and commit themselves to practicesthat keep Winning Sales Organizations (WSOs) on top. (WSOs are defined as organizations with a greater than 20 percent increase in revenue, new customers, and average account billing when compared to the previous year.)
SBPS Industry Reports Business Services 2008 233 KBBusiness services had its start with temporary office workers – mostly clerical and secretarial – filling in forstaff on vacation or sick leave. Many companies in the sector were the benefaciaries of the outsourcing boomin the 1990s, when numerous back-office and non-core functions were outsourced to these firms. During theboom, it was relatively easy to get into the C-Suite and develop strong partnership relationships. CEOs, CIOsand CFOs often led these outsourcing initiatives and asked for dialogue with vendors.
SBPS Industry Reports Consulting Prof Services 2008 201 KBConsulting and professional services organizations don’t sell widgets. They sell widget knowledge. Theydon’t manufacture, but they help manufacturers gain efficiencies and competitive edge. But, as the 2008Miller Heiman Sales Best Practices Study suggests, this sector has opportunities to sell more of its services andgenerate higher revenues in ways salespeople and their managers may never have thought possible.
SBPS Industry Reports Energy 2008 205 KBThe Perils of a Mature IndustryFor companies in the oil and gas industry, sales practices that have proven successful in the past may not be enough to produce similar results in the future. A recent study revealed several areas where the energy industry is underperforming compared to 20 other industries. This report challenges some of the long-standing methods of selling in this industry and highlights how changes can support an organization’s ability to increase sales cycle predictability. While the energy sector is frequently affected by factors outside its span of control, this study identified highly controllable sales activities that deserve a closer look.
SBPS Industry Reports Finance Insurance 2008 201 KBSalespeople in the finance and insurance industry are likely to have a healthy funnel this year. According tothe 2008 Miller Heiman Sales Best Practices Study, these organizations were 36 percent more likely thanother organizations to agree that they consistently use comprehensive prospecting plans. The study foundseveral areas where this industry is exceeding the performance of other industries and also identified areas where these sales organizations can improve. Most notable are opportunities for finance and insurance to engage their strategic accounts, improve their performance review process, and leverage the best practices of their top-performing salespeople. We assembled a panel of industry experts to find out how sales leaders in this industry can leverage these findings.
SBPS Industry Reports HealthCare 2008 227 KBThose selling in the healthcare industry are enjoying much success, even as the selling environment continues to grow more complex. Yet, with more factors contributing to the success of these organizations, the 2008 Miller Heiman Sales Best Practices Study revealed a number of opportunities for these companies to improve their results. Chief among them: systematic prospecting, communicating more effectively with strategic accounts, improving training opportunities, and leveraging top performers’ best practices to improve everyone else’s performance. At the same time, other industries may benefit by observing how healthcare sales organizations do a better job understanding the key issues of each decision maker at their prospect firms.
SBPS Industry Reports Hospitality 2008 203 KBIn Medieval Europe, taverns provided travelers with a place to eat and drink. But, as these journeys were often long and exhausting, innkeepers saw a profitable opportunity and began to install beds – thus the hospitality industry was born. People who ran and managed what are now known as hotels were primarily operations people, not customer-acquisition experts. But the culture stuck. Today’s “innkeepers” keep their eye onthe physical plant. They work tirelessly to ensure beds are made, floors are cleaned and shelves are stocked.
SBPS Industry Reports Manufacturing 2008 230 KBThe manufacturing industry began with skilled artisans hand-crafting items, primarily in their rural homes. They then sold or traded their wares in the marketplace. Prior to the industrial revolution of the 18th and 19th centuries, the artisans trained apprentices to carry on their craft – a time-honored tradition. And like many old-world industries, deals were made on a handshake. Therefore, it should come as no surprise that two key features of today’s manufacturing sector are product knowledge and loyal relationships. In fact, according to the 2008 Miller Heiman Sales Best Practices Study, manufacturing sales organizations are more likely than most to report that their salespeople are experts in their products or services – and that they enjoy strong, long-term relationships with their customers.
SBPS Industry Reports Technology 2008 234 KBSelling organizations in the technology industry are better than most at identifying and connecting with keyindividuals who make buying decisions. According to the 2008 Miller Heiman Sales Best Practices Study, thoseselling in the technology industry are 17 percent more likely than respondents from other industries to say they develop influential internal supporters in their client organizations and are 10 percent more likely to know what clients think of their proposed solution. This behavior is resulting in greater visibility to what’s happeningwithin client organizations so opportunities are not lost unexpectedly.
Selling in a Down Economy 2009 214 KBThe conventional wisdom: “The sales force needs to hunker down when the economy slows.”The reality: “A slow market is the time to consider doubling down on sales resources.”
Experienced executives all know that markets are cyclical. Downturns are followed by upturns, which then eventually lead to another slowing of business. During a down economy – typically, when revenues declineby 10 percent over the previous year for two quarters in a row - sales organizations tend to hunker down. Managers implement a hiring freeze and might even lay off staff. Moreover, they cut back resources, for instance, reducing sales training or eliminating it altogether. All this seems natural and sensible. As that old saying goes, you need to tighten your belt when times are lean. It all makes such good sense, right? Wrong!
Seven Essential Steps to hit your Year End Number 140 KBBy Sam ReesePresident and CEOThe way I see it, the real end-of-the-year push starts in the third quarter. I remember competing in races consisting of quarter-mile laps, and the key to being a world-class miler lies in the third lap. That third lap puts you in a position to win. That’s where you build the momentum you need to come out ahead in the fourth.The same strategy holds true for selling—and managing and motivating a sales team—through the end of the year: Start gearing up now to guarantee a strong finish. This is the time to prioritize. Just as important, this is the time to stay focused on the customer.Following are seven steps to help you achieve both those goals—and, as a result, move toward hitting your milestones when the year comes to a close.
Seven Myths about Salespeople 139 KBBy Sam ReesePresident and CEOIf there’s one profession that’s plagued with myths and half-truths, it’s sales. And no group is more subject to misunderstanding than your organization’s top performers. Let’s examine seven of the most common misconceptions about world-class salespeople.
Seven Steps to Better Healthcare Sales 278 KBNew technologies and government regulations in the 1980s and 1990s permanently changed the way that many industries conduct business. Digital communications, global networking, outsourcing and the World Wide Web have transformed how products and services are designed, tested, manufactured and marketed. At the same time, mergers, acquisitions and deregulation have affected revenue flows and economic decisions across the board. Almost no industry has been untouched by these developments.
SMM Leadership Imperative Golder 67 KBRecent economic events have driven many executive teams into conference rooms to assemble action plansand strategies to respond to the current economic crises.While these strategies are being discussed, the battles for market share wage on. But for sales executives, this is the time to make sure your front-line managers step up and provide leadership in the face of uncertainty, anxiety and potential distraction for your salespeople.
Stay Focused on Your Year End Goals 164 KBAs 2006 comes to a close, many salespeople are tempted to relax in the midst of their stellar accomplishments, or push new business into the following year to meet 2007 sales goals. That type of mindset stymies the momentum that the sales force has worked so diligently to generate over the course of the year.
Strategic Account Management 175 KBBy Anne StuartNot so long ago, every organization’s motto was: “Our workforce is our most important asset.”Times have changed.“Today, every company’s most important asset is its existing customer base-especially its largest or most strategic accounts,” says Robert B. Miller, co-founder of Reno, Nev.-based Miller Heiman Inc.It’s not that employees aren’t still critical to corporate success. But thanks to unprecedented changes created by the current volatile business environment, strategic accounts - that is, those key customers - now rank as a growing company’s most valuable asset.
Strategic Negotiations Better Relationship Better Deals 241 KBAre you getting the results you want from your sales organization? If not, it could be possible that your sales force’s negotiation skills need sharpening.Negotiation is part of each step of the sales process, not a one-time event. It begins prior to the first sales call and ends with customer recognition of the value your product or service brought to his business. Successful negotiating, then, requires the right mindset, the right tactics and a keen understanding of the pitfalls along the road to closing the deal.
Strategic Planning for Dummies and Experts Alike 101 KBThe bottom line: Sales is responsible for delivering the company’s top line growth. While hitting the numbers is important, says Erica Olsen, Vice President for M3 Planning and author of Strategic Planning for Dummies (slated for November publication), salespeople are often so busy working to deliver year-end goals that they’re left out of the strategic planning loop, either by choice or circumstance.
Strategic Planning Reality Checklist 103 KBA strategic plan starts with good intentions, but is virtually useless without implementation. Achieving solid results depends on a plan that is attainable and based in fact. The following checklist will help you avoid some common traps that come back to haunt sales leaders over the course of the year.
Strategic Planning Reality Checklist for Sales Leaders 103 KBA strategic plan starts with good intentions, but is virtually useless without implementation. Achieving solid results depends on a plan that is attainable and based in fact. The following checklist will help you avoid some common traps that come back to haunt sales leaders over the course of the year.
Streamline the sales organization 194 KBKP2 GmbH Kreuzer & Partners offers an individually-tailored solution to help companies improve their sales organisation and sales figures. Those interested in using the service can have their requirements evaluated in a free consultation.What distinguishes successful sales people or organizations from unsuccessful ones is their use of welldefinedprocesses and systems. KP2 GmbH can co-operate closely with companies in the implementation of a strategic sales process that will improve efficiency and reduce costs within their sales organization. The process - conducted via a series of workshops and consultations - is well-defined, measurable and transparent.
Taming the Volatile Sales Cycle 198 KBMany of the ups and downs of a company’s revenue stream can be smoothed out. Doing so, though, requires a fundamental change in how the organization prioritizes its sales activities.
The Art & Science of Big Deals: A Four-Part Strategy 565 KBAs every sales professional knows, “big deals” can determine the survival or demise of one’s career. And every sales leader knows a big deal can promise huge revenue infusions that can make or break a quarter. Further, how you pursue and manage a big deal may well determine exactly how big it gets.Big deals - your organization’s most important transactions - are not only highly valuable, but highly complex as well. Read more about a four-part strategy for managing big deals.
The Emergence of the SAM 258 KBPerhaps the most significant change from our perspective, both in the United States and in the United Kingdom, was the growth in importance of key (strategic) account management. This resulted in a demand for higher levels of expertise and professionalism from sales forces that worked within the context of increasingly complex customer relationships.
The Essentials of Executive-to-Executive Selling 2.4 MBIn his article about Executive-to-Executive Selling, Bob is describing the value of C-level executives being involved in the sales process. This is not just about closing a deal or to put out any fires, but to build up strong and sustainable client relationships which open up the door for profitable future projects. Learn more about the do’s and don’ts of executive’s involvement in your sales projects.
The Importance of Accurate Forecasting A CFOs Perspective 251 KBJamie Miller is particularly well qualified to provide a CFO’s view on sales-finance relationships and revenue forecasting.
The new normal - sellingOnce upon a time there were sales organizations which were selling their products in secure and stable times. Great products were designed and manufactured and they sold off quite nicely. After a while, companies realized that designing and manufacturing great products is no longer good enough. The better sales organizations started to adopt and implement “solution-oriented sales skills”. They trained their people on how to sell full service solutions rather than products. Mediocre and sub-average sales organizations and those performing below average vanished over time. The better ones survived… for a while.
The Nuts and Bolts of the Deal Review 162 KBThe final quarter: It’s time for a big push. Salespeople scramble to meet their numbers, and sales leaders expect people on their team to cross the finish line aggressively. To avoid getting into a situation where desperate salespeople jam product (thereby putting at risk the opportunity for long-term relationships with clients), systemize your deal review process.
The potential of the Process 201 KBBy Siegfried Kreuzer, KP2 GmbH-Kreuzer & PartnersSuccessful selling isn’t magic. But even “natural sales talent”, if such a thing exists, is not enough to guarantee success. What distinguishes the successful individuals or organisations from the unsuccessful ones is their use of well-defined processes and systems. This article introduces the strategic sales process and discusses how it can be used to increase the effectiveness of a company’s sales force and, ultimately, profitability.
The Sales Talent Crunch 149 KBStellar salespeople have always been the crown jewels of any successful company. But today, they’re almost as rare as real precious gems.
Three Ways to Improve Your Sales Calls 69 KBYou’ve got a hot prospect. You need a face-to-face opportunity to sell your product and services. So you stop by, without an appointment, hoping to make it past the receptionist and catch the decision maker in a rare unscheduled moment. “I was in the vicinity, and thought I’d just stop by to say hello.” Well, at least you tried.
What Makes A Winner 218 KBIt’s easy to identify the highest-performing sales organizations: Obviously, they’re the ones with the most sales. The real challenge is figuring out how they got there. How do these sales superstars maintain a consistent, comfortable distance between themselves and their competitors? How do they retain and increase market share? In other words, why do they excel? Exactly what is it that sets them apart from the rest of the pack? What do they do that the others don’t—or don’t do as well?
What Sales Leaders are doing now 194 KBGet back to basics. Focus on the things you can control.It is easy to become paralyzed in challenging times. The current market conditions are different from anything that most of our employees have ever experienced and the natural human tendency to avoid risk may result in not “doing” much of anything at all. Studies show that in a down economic cycle salespeople actually spend less time with clients – somehow convincing themselves that less face time might mean less bad news. What can be done to get back on track? Get back to basics. Focus on the things you can control.
White Paper Negotiate for Win Win 112 KBBy Anne StuartIf there’s one thing everybody knows about sales, it’s that serious negotiation starts when you and your customer or prospect sit down together to close a deal. Right? Think again. In any successful negotiation, the real work begins long before either party comes to the table. “When people hear the word ‘negotiation,’ they think ‘Oh, that happens at the end of the sales process,’” says Grande Lum, author of The Negotiation Fieldbook: Simple Strategies to Help You Negotiate Everything. In fact, he and other experts say, the best salespeople start thinking about negotiation much earlier-sometimes even before they’ve made the first contact.
Why Salespeople are Losing at the top 240 KBMiller Heiman’s two-year research effort reveals a groundbreaking reality: salespeople are losing deals because they are not winning executive approval.
Why Selling On Value and Negotiating on Price does not work 326 KBLike many account executives, I can look back on many training sessions in which I was urged to sell value. One of these courses that I attended had the descriptive (if not imaginative) title “How to sell at higher prices than your competitor.” While some of my professional development experiences were enjoyable and seemed highly valuable—at least while I was in the classroom—much training seemed ultimately irrelevant or ineffective when it came to my ‘real world’ challenges. There was something good and proper about account managers discussing value, but it got ugly when the discussion turned to “N” word—negotiation. Before you continue reading, let’s try to insert a bit of interactivity into your reading experience: please write down your answer to the following question before reading further.
Win fast, never ever lose slowly? 301 KBEffective selling begins with prospecting and qualifying – the disciplined, systematic approach for knowing where and when to focus one’s selling efforts. Effective prospecting and qualifying is a persistent challenge. In our research, over two-thirds of survey respondents consider acquiring new customers “challenging to critically challenging.” This underscores the need for effective prospecting and qualifying. Read more!
Year End Guide for Sales Leaders 258 KBArticle Highlights:• Focusing on quality rather than quantity• Determining which deals are likely to close by year-end• Knowing the business issues that key customers want to address• Aligning your sales process with customers buying processes• Involving and engaging your salespeople• Assessing the value you are providing your best customers
Your Strategic Accounts Evaluating the Health of your assets 175 KBBy Anne StuartNot so long ago, every organization’s motto was: “Our workforce is our most important asset.”Times have changed.“Today, every company’s most important asset is its existing customer base-especially its largest or most strategic accounts,” says Robert B. Miller, co-founder of Reno, Nev.-based Miller Heiman Inc.It’s not that employees aren’t still critical to corporate success. But thanks to unprecedented changes created by the current volatile business environment, strategic accounts - that is, those key customers - now rank as a growing company’s most valuable asset.
