March 30, 2012 12:00 AM
Few things frustrate salespeople more than competitors offering your current clients similar products or services at dramatically reduced prices. Sales coach Colleen Francis (engageselling.com) offers these five steps to close business without taking a huge bath on profits.
Learn from history
Show your salespeople that prospects who only buy on price are not the best customers for your business because, in the long-term, they are not profitable customers.
March 28, 2012 12:00 PM
E-mail is a quick and efficient way to reach a lot of prospects in a short amount of time. Dougles Chan is a recruitment and retention guru (dougleschan.com) who uses electronic platforms to maximize his recruitment business. If you buy into the concept that marketing an individual shares many similarities with marketing products and services, Chan offers these e-mail marketing insights:
March 26, 2012 12:00 PM
There are hundreds of possible inbound marketing metrics to choose from, and almost all of them measure something of some kind of value. These include SEO rankings, inbound links, articles published, content downloads, reach (e.g. Twitter followers, Facebook fans, LinkedIn followers, blog subscribers), comments, retweets, Likes, shares, clicks, traffic, leads…and so many more.
March 21, 2012 11:00 AM
This is Part II of a two-part article. If you haven’t read Part I, you can find it here.
In Part I of this article, I asserted that the fundamental problem with most sales compensation plans is they don’t work well. They don’t motivate the performance and behavior that employers are looking for. I reviewed the most common salesperson salary structure of base pay plus commission and also looked at base pay plus commission plus a bonus.
March 19, 2012 06:56 AM
Sales compensation seems to be a mystery to the owners and managers of many businesses. I get calls and e-mails frequently asking about compensation standards, and the truth of the matter is there aren’t any. For every 100 companies, there are probably 120 compensation plans in place, with many individual salespeople operating on different plans within the same company. (That’s not necessarily a bad thing, but I’ll come back to that later.)
March 13, 2012 01:00 PM
Managers spend so much time assessing the performance of others that they often don’t stop long enough to figure out what they feel about their own performance. Most leaders’ performance is measured on success metrics — net profits, market share, sales growth, etc. These tangible targets are important and desired outcomes for businesses and their leaders. Profits help their enterprise remain viable.
March 13, 2012 01:00 PM
Leaders like to talk about radical changes and employee-centric practices, but the reality is there is a strong disconnect between how leaders perceive their organization’s RESPECT levels and how their employees view them, authors Jack Wiley and Brenda Kowske say.
March 12, 2012 01:00 AM
In business, we set milestones for projects to give us signposts of progress and a path to follow. Yet on some journeys we embark on, we don’t have any (or enough) milestones or landmarks on our path, says Kevin Eikenberry, founder of The Kevin Eikenberry Group (kevineikenberry.com), a team of business consultants and trainers. For many people, their own leadership development often is one of those instances.
March 4, 2012 01:00 AM
Meetings as a business tool get a bad rap, and it’s often a manager’s fault. When meetings become routine, participants stop preparing for them and they become lifeless and ineffective. But meetings matter because most relationship building and decision making still gets conducted face to face.
March 4, 2012 01:00 AM
“Only 69 percent of ASTD survey respondents believe that the formal sales training they receive is in any way effective. That’s at least a 30 percent failure rate...”
March 1, 2012 12:00 PM
I’ve got books of letters written by Georgia O’Keefe, Jack Kerouac, Richard Nixon and a book of letters exchanged between Jean Paul Sartre and his companion Simone de Beauvoir. Many of Hunter S. Thompson’s most entertaining rants came in his letters.
March 1, 2012 02:56 PM
My wife and I recently visited one of our favorite local restaurants (a "bar & grill" as it's called). We've been loyal customers for several years. It's a nice place, always busy with good food, service, atmosphere and reasonable prices. The place is located in the suburbs and attracts a mixed customer base of blue- and white-collar patrons.
February 28, 2012 01:00 PM
Do organizations that do a better job of providing what employees want also create more satisfied customers?
February 27, 2012 01:00 PM
February 20, 2012 01:00 AM
There’s been a lot of talk about “1 Percenters” in political circles.
In business, the focus is on the “10 Percenters” after a study by European academics Heike Bruch and Sumantra Ghoshal revealed that only about 10 percent of managers take “decisive purposeful action” when necessary.
The remainder were busy, but not very effective: 40 percent were energetic but unfocused; 30 percent had low energy, little focus and tended to procrastinate; and 10 percent were focused, but not very energetic.
February 19, 2012 11:30 PM
Listening is far more important than talking and schmoozing when you want to earn the respect and trust of your prospects – especially in the first meeting and the early stages of the business relationship. Even if you’re responding to a prospect’s inquiry, it’s important to remember that prospects must first respect and trust you and your company before they’ll be comfortable buying from you.
February 13, 2012 01:00 AM
Landing big, new contracts is cause for celebration at most companies.
The smart ones, however, get busy understanding the reasons behind their success instead of getting giddy over it, says Rick Reynolds.
February 9, 2012 04:12 PM
The advent of steam-powered machines, most notably locomotives, ushered in the Industrial Age nearly 200 years ago. The early leadership of railroads and other business enterprises was drawn largely from the ranks of the military. Not surprisingly, these top brass brought with them the hierarchical, authoritative leadership model that had served them well in their former military careers.
February 6, 2012 01:00 PM
By PAUL NOLAN, SMM Editor
February 6, 2012 01:00 PM
A Q&A from Sales & Marketing Management
SMM: There has been a lot of debate online about the theories you propose in your new book. Before we get to those, however, why did the world need another sales book?
February 2, 2012 02:00 AM
Despite three decades of experience, a history of “strategic” successes at select companies, and an abundance of technologies designed to support both disciplines, for the most part, sales and procurement continue to dwell on tactics.
January 27, 2012 10:32 AM
By TOM GRUBB
January 13, 2012 02:25 PM
By NEIL MAHONEY
Making the sales process more time-effective is not easy because salespeople have so many unavoidable duties they must perform: call reports, expense reports, travel time, handling complaints, maintaining relationships… The list never ends.
January 5, 2012 03:34 PM
By WILL WIEGLER