No Instant Pudding...
The quote above is attributed to Dr. W. Edwards Deming the American statistician, college professor, author, lecturer, and consultant. Another quote often attributed to Dr. Deming is "you can't manage what you can't measure", while it might not be accurate to apply this quote to Dr. Deming , many of us have experienced a time when the plates were hung and the paper was no where in sight! Plant management rarely puts up with this easily resolved issue though measuring press downtime and implementing corrective action
I have had an opportunity in my career to look into many small and mid-size plants and see the process (or lack thereof) that drives sales. Often, if I saw manufacturing management operate with limited tools, subjective decision-making, fragmented communication and limited accountability that a sales team is managed, spoilage figures would quickly gain the attention of upper management and corrective action would quickly be forthcoming.
Sales has often been considered an "art" as opposed to a process, and while there is a certain truth in that, process certainly plays an important part. Consider an under performing manufacturing asset such as a defective ink roller, forklift, platemaker, paper or ink supplier. Underperformance would quickly get the attention of those responsible for those assets and action to correct the situation would be implemented. Does this happen when we consider sales as an "art" but not a process?
An example is how a "lead" is managed. A "lead" has value. It cost money to exist and will cost more to nurture. And if it is an unqualified lead, the more time, money and effort that is extended, the more underperforming it becomes. What of that solid lead or potential account that has been or is being "worked on" or "I left a message" without delivering results? What about that "great" lead that is chased down only to find at the RFQ stage you can't meet the price point or you just found out that the buyer's sister is your competitor. Managing a lead through a defined pipeline is essential to leveraging the value of that lead.
So what does this all have to do with instant pudding; measuring, managing and selling? It is commonly said that most buyers buy after seven touches, it is also commonly known that most reps quit at three. They are looking for the instant pudding. A process supports accurate qualification; that the prospect buys what you sell, allows management to see a lead as it progresses, institute corrective action and creative solutions if it gets stuck and provides tools and content for seven touches. In a competitive environment being top of mind and at very least positioned as a secondary source is the appropriate investment in a valuable asset of your business, a lead.
Managing a sales effort through process tools and management protects a multitude of valued assets: the lead itself, accounts that have significant growth potential, time and sales resources. Ultimately it also does what it is intended to do. Sell more of your product.
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Sales Training Sucks
Well!! A little strong you might think? Is it really? That sound is your hard dollars going right out the window. Here is another great sales training idea - lets provide that training when your prospects are buying and then we can add the cost of lost opportunity to the training and get an even better sound.
Now I don't want to get carried away here, there are a lot of great sales training "systems" out there and they work. For a while. That is the problem, the "for a while". How about a solution then? In order to offer that up I need to ask a few questions about your sales team.
- Which rep knows what a valuable prospect looks like?
- Who is your best appointment getter?
- Who manages their time efficiently?
- Which rep makes the best presentation?
- Who has the deepest product knowledge?
- Which rep can build "value based solutions" beyond the price?
- Who can build rapport easily?
- Who is your best closer?
- Who nurtures and grows accounts?
If you were to take your top rep and grade her on the abilities above, I would bet that she executes them all really well. Some she might like doing, others not, but she does them. So the answer. Identify the specific weakness or weaknesses, train and coach your sales team on the individual areas of improvement. It is that simple.
The only way to know this is to measure activity in a defined pipeline. Building a sales pipeline and measuring the results gives you the information that will allow you to improve results for everyone on your sales team. When you see a "choke" in the funnel, get them help -provide specific training and direction. It does not cost a lot of money or demand a lot of your resources. In fact the internet alone can provide great tools to point them in the right direction. Measure and Manage.
Simple and Sustainable Improvement.
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Sales is Stupid
Lets face it. Selling is simple. There is not a lot to it really. Another bold statement possibly? Then why are so few really good at it? If I were to really get down with it and ask ""What is selling?" I would answer:
It is about whom you are speaking to and what you are saying.
Say the right things to the wrong person or say the wrong things to the right person, my bet is that you are not getting the results you would like.
So how do you fix that? You could reach out to the high priced process engineers, sales gurus, spin meisters, formula sellers and get results for the short term or do more of the same and expect a different result.
How about a sustainable and affordable solution with measurable results?
That is what I do. I help you build a sustainable, scalable, cost efficient sales plan. It starts with a simple look at your business. What is working, what is not, clones of your best accounts, qualified key prospects, most grow-able existing accounts and why, distilling these prospects into a ranking and a sales pipeline from suspect to closing ... the WHO. From that information we develop the content in the form of an elevator statement, value proposition and call scripts that support the sales activity and the value of your business... the WORDS.
We then wrap it into an effective cost efficient tool to manage all of these assets. From there it is continuing to improve on the process, providing coaching and tools for the "gaps" in skill sets and message that leverages the power of your team. Cost efficient and effective.
If you are not now doing this consistently and effectively across your team and would like an affordable solution to this challenge, call me. I will dedicate an hour with you at no cost, no obligation.
Simple and Sustainable Improvement.
Your Most Valuable Asset...
In working with successful business owners, invariably at some point we discuss assets. The most commonly discussed asset is the human one. I am sure this is no surprise to you.
This idea led me to think about what your most valuable asset - most valuable asset is. From where I sit, in the sales reps shoes, it is TIME. When I do an initial due diligence with a sale team, I explore with them areas of resistance to improving their sales results. Almost to the man or woman, high on the list is "Time Management".
So the message of this month's newsletter is measure to manage and maximize time. Here are some ideas to explore.
Use Tools - A tool such as Act, Goldmine, Salesforce - built with a ranking - pipeline - tasks - assets - reminders. Make the call, note the action, send the email linked to a asset library, set the reminder - "Set It and Forget It", move on to the next task. I call this the "RONCO" effect.
Develop Scripts - A practice around scripting can improve results drastically. Developing a series of call scripts that support the value your company brings to the market. Practice and consistency build confidence and erode resistance. Practice and improve on your message.
Set Goals - Set a number. Number of calls per day. Number of introductions per day. Number of appointments per week. Number of quotes per month. While I do not believe it is all a "numbers game", it is a "numbers game".
Protect the Selling Window - If it all starts with a call, you obviously need to call when you have a high probability of reaching the prospect. So if reps are doing administration functions between 8:00 - 12:00 and 1:00 - 5:00 you are likely not going to get good results. Stop that. Protect the window.
There are many more tools and strategies. That is what makes selling so much fun. While selling is a skill around a process it is also a craft around an art.
Art is a way of making.. Science is a way of knowing.
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Sticky Note your Way to Success!
What the heck can that mean? Maybe you need something with a little more heft (and expense) to get your sales and margins up. A sticky note? How is that for a high tech tool? No software, no hardware, no tricky program or slight of hand, workbooks or homework or a shot at being the next best selling business book. I don't think so. Maybe you need a fresh look at your sales plan/team/efforts/markets/resources.
I use large sticky notes and a Sharpie when I work with my clients and their sales teams. In this session we build the foundation by taking a new look at where they have been, what they are doing now and where they want to go. No sense throwing the baby out with the bath water. I facilitate this among the ones who know what is happening in your market. Your sales team.
So what happens after a few hours in a foundation session? We end up with a wall of ideas, most good, some out of the box and some not so good. Now we have a base or foundation to work from.
Here is a short example of the categories that we uncover and explore.
- Markets served/not served and why.
- Concentrics, Clones or "Look A-likes"
- Most "growable" accounts and markets.
- Areas of resistance to success.
- Tools.
- Word Development - An Elevator Statement, a value proposition and the beginnings of scripting for emails, letters and phone calls.
- Objections.
- Blocks to success.
- Best practices.
- Underutilized assets.
From there we can see the "gaps" that exist in the current plan. Now we have a beginning road map out to a desired goal. Simple, defined and accountable. I finished this exercise recently with a sales team in two meetings and reviewed it with my client. When I asked him if I delivered the value he expected, his response was "I got much more than I anticipated". That made be VERY happy. That is the payoff for me.
So consider a "Sticky Note Session" with your team. Of course I would love to facilitate it, however, certainly it is something you can do yourself to give your team a boost and maybe open an eye - or two.
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