Despite the improving unemployment rate and positive economic indicators, many B2B companies are stuck in slow and no growth modes.
How can these companies re-kindle growth and increase sales?
- Instill passion into the business
- As the leader, exude energy, urgency and speed and demand it from all your other managers.
- Your example will be contagious.
- But, don’t be a dour taskmaster; instead, along with the urgency and healthy tension, maintain a climate of fun and humor.
- Perform with current customers
- Operational fulfillment – give your current customers what they want when they want it.
- Simple and accurate billing.
- Accessible and excellent customer service with a “can do” attitude to solving the customer’s problem then and there.
- Responsiveness – return phone calls quickly, respond to E-Mails promptly, do what you say.
- Reach out and speak with the customer – a simple phone call or visit will work wonders in ensuring that your good customers do not feel forgotten or neglected.
- Grow current customers
- The easiest customer to sell to is the one that is already buying from you
- Increase share of wallet
- Make it easier for the customer to buy from you
- Custom shopping lists
- Reach out over the phone
- Buy on the website
- The easiest customer to sell to is the one that is already buying from you
- Build a robust pipeline of new customers by developing, executing, and tracking a list of new prospects
- How do you determine good prospects?
- Customers that used to buy from you and no longer do so
- Customers that your competitors sell to
- Customers gleaned from scrubbed (the job of marketing) lead lists
- Customers that you read about in local business magazines
- Choose 20 of the most promising
- Get in front of the prospects
- Drive success with the short term prospects
- Nurture the medium and long term prospects
- Get in front of the prospects
- Track visits and activities
- Keep the pipeline visible to all levels of management
- How do you determine good prospects?
- Management throughout the organization focuses on creating selling time (and capacity) to allow the sales managers to manage and the salespeople to sell
- What distractions can be reduced or eliminated to ensure that sales are in front of customers?
- What reports can be eliminated?
- What meetings can be shortened or eliminated altogether?
- How can management take problems away from the sales team?
- Communication is kept short, simple and to the point
- Long, detailed explanations are usually irrelevant
- Measure the percent of time that sales management is focused on growing sales and the amount of time that the sales team is making sales calls.
- What distractions can be reduced or eliminated to ensure that sales are in front of customers?
- Upper management leads by example in setting clear targets and holding accountable
- In creating urgency and accountability, upper management will often feel like they are being “nags” or micro-managers.
- But, that is necessary to ensure that what needs to get done is done and a culture of accountability and “no excuses” permeates the company.
- Upper management ensures that the sales managers are truly managing their sales teams.
- Managing people and process, not tasks
- Sales managers create accountability with their sales teams
- Set clear and achievable targets and objectives
- Follow up
- Hold accountable for doing the activities and behaviors that will help the sales team reach its targets and objectives
- Sales managers focus on improving their core salespeople
- The best salespeople just need to be pointed in the right direction, given the proper incentives, and allowed to go out and slay dragons
- The under-performers need to be acted upon immediately
- Analyze their under-performance – their actual results and the activities, behaviors, and selling skills that caused their poor results.
- Cut under-performers loose or give them a short time frame to improve their activities, behaviors and results.
- Bring in aggressive, hungry salespeople who are eager to learn and excited to win.
- The middle 80%, the core performers, need to be the focus of management attention and time.
- Improving the sales effectiveness of this group will pay the largest dividends.
- Through coaching and training
- Sales ride alongs
- Holding accountable
- Improving the sales effectiveness of this group will pay the largest dividends.
- The good salesperson leverages every company resource possible to help grow sales in their territory
- Customer service
- Operations
- Sales support
- Telesales / Telemarketing group
- National / corporate sales resources
- The company website and on-line business team
- Sales management, up to and including the President
- For advice and mentoring
- To lend support or sufficient authority to a sales call when needed to close a sale
- The salespeople are coached to enhance their effectiveness
- They have a strategy for their territory focused on the most important customers and product lines
- They have a plan of action to execute this strategy each week
- They have a plan of action for the day
- Maximizing customer visits while minimizing drive time
- They have a plan for each call
- For what specific problem does the customer need your solution?
- They listen to the customer and focus on the customer’s hot buttons
- WII-FM – What is in it for me (the customer)?
- They follow up with the customer
- They track their activity
- To record what they have said to the customer
- To know when they need to get back in touch with the customer
That’s All.