ReportWire

Tag: Sales Training

  • Focus on These 3 Key Areas to Overcome Sales Challenges | Entrepreneur

    Focus on These 3 Key Areas to Overcome Sales Challenges | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    In any business, there’s always room for improvement. This is especially true when a recession seems imminent and companies must adapt to unfavorable economic conditions. Because systems, processes and operating units have a way of taking on a life of their own, they often leave leadership teams struggling to find the right means to improve overall business performance.

    Sales Xceleration’s data strongly suggests that sales, in particular, pose a problem for organizations, with 89% of small and midsize businesses reporting difficulties arriving at a sales strategy. The same is true for sales analysis, with 89% grappling with goals, quotas, incentives, sales team metrics and other elements. However, it’s not all bad. Determining how to overcome sales challenges can often be accomplished by focusing on recent organizational trouble spots. Prioritize the following areas:

    Related: Here Are 5 Trends to Watch Out for in Sales and Marketing in 2023

    1. Take a second look at onboarding sales reps

    A successful onboarding process and ongoing training strategy can increase employee engagement and equip team members with the knowledge and skills to excel in their jobs. It also provides the opportunity to familiarize new hires with the organization’s policies, benefits and processes, ensuring that their behaviors and actions align with expectations and contribute to the overall objectives of the company. According to Harvard Business Review, employees who have a positive, formal onboarding experience even have a 50% increase in retention and a 62% increase in new-hire productivity.

    Despite these benefits, Sales Xceleration data indicates that 67% of organizations aren’t onboarding sales reps with any formalized structure. This just opens businesses up to unneeded risk. For one, new hires enter their roles without a full understanding of the job — nor do they know exactly what success looks like in that role, which can harm productivity and lead to poor customer service. Given enough time, your business can easily begin to experience customer churn and a hit to the bottom line.

    New hires may also question the value of their roles and wonder whether they will advance their career goals. Employee satisfaction and morale will take a nosedive. And what was once viewed as a long-lasting career will be anything but, and you’ll probably see high turnover rates with new hires.

    The fix is actually quite simple: Initiate a plan for onboarding sales reps. Set clear 30-, 60- and 90-day goals. Communicate the plan in writing, making sure everyone understands the process, standards and expectations prior to starting. Then, it’s just a matter of checking in with new hires regularly, maybe every month, until they start working independently. As the market for top talent — particularly sales talent — becomes more competitive, onboarding and development will only become more critical.

    2. Reassess roles, responsibilities and sales resources

    When everyone knows what they’re supposed to do and what’s expected of them, the workplace becomes more productive. In these environments, employees know how to behave and where to focus their attention. Less desirable tasks are no longer delayed until they create issues. Because responsibilities are clearly defined and assigned, collaboration comes much easier. In general, everything gets done on time. This clarity permits businesses to save energy and resources, experience fewer redundancies and avoid confusion about the next steps.

    Unfortunately, organizations often fail to communicate expectations clearly enough to enjoy these benefits. In fact, Sales Xceleration data indicates that 57% of organizations don’t have sales resources, roles and responsibilities defined in writing. Again, this opens them up to risk — so much so that it could damage business. Every role in small and midsize businesses is essential. If even one sales employee is struggling, business objectives will become more difficult to achieve.

    To correct deficits in this area, start by documenting sales processes so that few questions remain about the customer journey, the key milestones to watch for and the ways processes correlate with buying behaviors. Communicate your goals and key performance indicators, and make sure to add these to employees’ compensation plans. Performing regular performance reviews is also important.

    Related: How to Set Expectations and Get the Performance You Want From Your Team

    3. Address any sales skills gaps

    Though it might seem obvious to address skill gaps, Sales Xceleration’s data indicates that 92% of organizations fail to do so when gaps are discovered. This aligns with findings by the National Society for Leadership and Success, which argues that the workforce at large is experiencing a skills gap crisis. In sales, this has the potential to be catastrophic: When sent out into the market without the knowledge or abilities to share what makes a product or service unique, untrained sales reps will very likely cause business to suffer.

    Focusing more attention on how to train sales reps can help. If no onboarding plan is in place, prioritize creating one. You must understand what inspires team members to do their best work and make sure the employee experience is a good one. Doing so will allow sales reps to grow and encourage them to stay with your company. Utilizing a learning lab could also help move the needle in the right direction. Ensuring your sales reps have the right skills can make a big difference in their production. According to RAIN Group, top-performing sellers are 33%-120% more likely to have account management skills, and sellers with advanced consultative selling skills are almost twice as likely to be top performers.

    Still, proper training also needs to be aligned with goals. To provide direction for sellers’ efforts, it is extremely beneficial to set professional development goals for sales reps. This is also key to correcting sales skills gaps when discovered. When salespeople aren’t made aware of problems, they have no means of taking the necessary steps to improve.

    It can be difficult to know how to overcome sales challenges. While not all companies have issues onboarding sales reps, defining responsibilities or correcting skills gaps, these areas have become increasingly problematic in organizations. Regardless of where your company’s difficulties lie, it’s critical to look at the processes already in place and determine whether they’re working for the business and the sales team. This might reveal problems no one knew existed but could be fixed.

    Related: 10 Research-Backed Ways to Improve Sales Success

    [ad_2]

    Maura Kautsky

    Source link

  • What Separates the Best From the Rest in Technology Sales?

    What Separates the Best From the Rest in Technology Sales?

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Acquiring new customers and retaining existing ones in the technology space is tough. It’s a lengthy sales cycle, competition is stiff, and you’re dealing with decision-makers from up, down and across the organization. And there’s always at least one executive barking that familiar, dogged refrain: “Show. Me. The. ROI.”

    All of this means your salespeople need to be at the top of their game. As to what separates the best from the rest in technology sales, the RAIN Group Center for Sales Research conducted a global study on the skills and behaviors of top performers. Here’s some of what was uncovered:

    Related: The 10 Traits Every Good Salesperson Has in Common

    What characterizes a top performer in technology sales?

    Before I dig into the skills and behaviors, let’s be clear on what defines a top performer in technology sales. They do the following:

    Not surprisingly, salespeople earn top-performer status by winning more business. The average win rate of top performers in technology is 74% compared to only 47% for “the rest.” As such, top performers are more difficult to find. In our study, they represent only 20% of respondents. Most technology sellers (80%) belong in “the rest.”

    Related: 3 Traits High Performing Sales Reps Have That Average Sales Reps Don’t

    The 6 greatest differences between the best and the rest

    So, what sales skills should you look for in technology sales reps? More importantly, what skills most differentiate top performers and the rest? Our study found that the best sellers are much more likely to excel at these six specific skills and behaviors:

    • 2x more likely to focus on their agenda, not reacting to and getting derailed by others

    • 2x more likely to present overall value cases compellingly and persuasively

    • 2x more likely to tell good stories when selling

    • 2x more likely to have coaching to lead masterful sales conversations

    • 1.9x more likely to change habits when needed to improve results

    • 1.8x more likely to avoid distraction

    Three important themes emerge from this data:

    1. Driving productivity

    Three of the top six skills and behaviors relate to productivity. Top performers are much more likely to stay focused on their agenda, adapt their habits when needed and remain impervious to distraction.

    Despite the data, we see too little focus on productivity in the sales space. If you’re looking for top performers in technology sales, look for a track record of accountability, proactivity and time management.

    2. Effective coaching

    Top performers are much more likely to have managers who excel at coaching them to lead masterful sales conversations. They have the tools to succeed with virtual selling, too.

    Across the board, we found that top-performing sales managers in technology are more likely to have better coaching skills. The No. 1 sales management and coaching skill most separating top performers from the rest is “Coaching sellers to lead masterful sales conversations.” Indeed, top performers (47%) are significantly more likely to excel here compared to the rest (23%).

    The fact is sales are won and lost in the conversations sellers have with buyers. When sellers receive the coaching they need to lead effective conversations, it translates to results. To that end, sales managers should participate in ride-a-longs, listen to recordings of sales conversations and participate in simulations with their sellers.

    3. Making the case

    The second largest gap between top performers in technology sales and the rest is the ability of top performers to make a compelling value case. And this is not just about presenting an ROI case. There are five cases a seller must make to influence buyers:

    1. Priorities: Sellers need to influence buyers that this is important and worthy of the priority list.

    2. Approaches: Sellers need to show that this is the right approach to solving their problem. This is where telling good stories comes into play. Sellers who do this well show how their approach has worked for others and can and will work for the buyer.

    3. Return on investment: Most sellers talk about ROI, but few are skilled in making a strong ROI case. In fact, only 16% of buyers report that sellers are effective at making a powerful ROI case. This leaves a lot of room for improvement for most sellers.

    4. Decisions: Too many sales are lost to no decision. Sellers need to influence and persuade buyers to act.

    5. Partners: Sellers need to make the case that they are the best partner to help the buyer succeed. Relationships and value come into play here. The more value a seller can provide in the sales process and the stronger the relationship they’re able to build, the more likely the buyer will view them as the preferred partner.

    Related: 5 Tricks to Instantly Connect With Any Sales Prospect

    Final word: When it comes to B2B tech sales, trust the data

    To overcome the challenges of selling technology, your team needs to make finding and cultivating top performers a core competency. The data research clearly shows that people who know how to sell technology do things differently. They:

    • Stay focused on their priorities

    • Make persuasive value cases

    • Tell good stories

    • Have solid coaching

    • Adapt their habits as needed

    • Avoid distraction

    That’s the data-backed rubric for better tech salespeople. How does your team stack up?

    [ad_2]

    Andy Springer

    Source link