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jerryking : sales   63

7 Closing Strategies to Double Your Average Sale Size
August 11 | Entrepreneur Magazine | Marc Wayshak - GUEST WRITER
Your success depends on closing bigger, better deals. Put your time and energy into prospects with the power to make large investments and introduce you to others who can do the same.

1. Get over your fear.
Many salespeople are simply too scared to sell to huge companies...... large companies face the same problems as your small customers do, just on a bigger scale. This means they need a bigger version of your solution -- and they have the budget to match. Get over your fear.

2. Stand apart from the crowd.
High-level prospects hear from an average of 10 salespeople every day. If you do what everyone else is doing, you’ll never get through to them or earn their trust. To double your average sales size, you must be intentional about standing apart from the crowd in your industry. While others pitch, you should ask questions. While others are enthusiastic, you should be low-key and genuine. While your competitors focus on their products, you should focus on your prospect’s deepest frustrations and show how you can solve them.

3. Stop selling to low-level prospects.
Selling low-level prospects harms your close rate and decreasing your average sale size. Low-level prospects simply don’t have the power or budget to tell you “yes." They’re not the decision-makers. If you want to increase the size of your sales, stop selling to prospects who lack the budget to invest in your solution.

4. Sell to decision-makers.
It’s a best practice to head straight to the top of the food chain and sell to directors, vice presidents, and C-level executives. They have the power and budget to say “yes” to your offer. If someone refers you back down the chain, you’re still landing an introduction to the right person -- by his or her boss, no less.

5. Stop cold-calling.
Cold calls are miserable. Try implementing a sales-prospecting campaign. Plan your calls, letters and emails as follow-ups to a valuable letter or package you send via FedEx. This could be a special report, unique sample or company analysis. These intentional, repeated touches over a series of months will set you up as a familiar name by the time you actually get your prospect on the phone. When a huge sale is on the line, you can afford to invest time and money to catch a single prospect’s attention.

6. Know the decision-making process.
If you’ve closed only small deals at small companies in the past, you might be accustomed to working with just one or two decision-makers at a time. In large corporations, the decision-making process can be much more complicated. One of the biggest mistakes salespeople make is failing to understand the decision-making process. Get a grasp of this early on, and you can stay in front of the right people, build value for them and close your sales at higher prices.

7. Leverage sales for introductions.
When you close one large sale at a big organization, don’t stop there. Ask new customers for introductions to others in their company or network who could benefit from your offering. You have nothing to lose by asking for introductions, but failure to do so will cost you massive opportunity and revenue.
Gulliver_strategies  sales  fear  large_companies  differentiation  sales_cycle  buyer_choice_rejection  cold_calling  referrals  prospects  JCK  executive_management  campaigns  Aimia  LBMA  strategic_thinking  close_rate  questions  thinking_big  enterprise_clients  C-suite  low-key  authenticity  doubling  the_right_people 
august 2017 by jerryking
A Tale of Two Metrics
August 7, 2017 | | RetailNext | Ray Hartjen, Director, Content Marketing & Public Relations.

Traffic can’t alone measure the effectiveness of demand creation efforts, but some well-placed math can show retailers strong correlations over a myriad of relevant variables. More over, as my colleague Shelley E. Kohan pointed out in her post earlier this summer, “Expanding the Scope of Metrics,” Traffic is foundational for meaningful metrics like Conversion and Sales Yield (Sales per Shopper), key measurements that help managers make daily decisions on the floor from tailoring merchandising displays to allocating staffing and refining associate training.
With metrics, it’s important to remember there’re different strokes for different folks, with different measurements critical for different functions, much like financial accounting and managerial accounting serve different masters. Today’s “big data” age allows retailers to inexpensively collect, synthesize, analyze and report almost unbelievable amounts of data from an equally almost unbelievable number of data streams. Paramount is to get the right information in front of the right people at the right time.
Sometimes, the right data is Sales per Square Foot, and it certainly makes for a nice headline. But, not to be outshined, other instances call for Traffic. As Chitra Balasubramanian, RetailNext’s Head of Business Analytics, points out in the same Sourcing Journal Online article, “Traffic equals opportunity. Retailers should take advantage of store visits with loyalty programs, heightened customer service, and a great in-store experience to create a long-lasting relationship with that customer to ensure repeat visits.”
metrics  sales  foot_traffic  retailers  inexpensive  massive_data_sets  data  creating_demand  correlations  experiential_marketing  in-store  mathematics  loyalty_management  the_right_people  sales_per_square_foot 
august 2017 by jerryking
'Stigma' against sales jobs hinders Canadian companies' growth - The Globe and Mail
Contributed to The Globe and Mail
Published Monday, Jun. 20, 2016

Canada’s technology and innovation sector feels the negative impact of this problem more acutely than any other. As a nation we have a wealth of established and emerging technology firms that are developing amazing innovations, but the two biggest barriers to growth are a lack of investor capital and sales talent. The two are inextricably linked and one will typically reinforce the other. These critical barriers to growth precipitate the failure of many Canadian technology ventures and often see our success stories refocus their operations south of the border. Furthermore, it is not uncommon for Canadian technology ventures to sell at an early stage, perhaps prematurely due to a lack of strategic sales leadership and the necessary sales talent pool that would be needed to take their venture to the next stage.
Kitchener-Waterloo  start_ups  selling  sales  sellout_culture  software  stigmatization  salespeople  talent_pools 
june 2016 by jerryking
Do you know the value of what you’re selling? Many sales reps don’t - The Globe and Mail
Special to The Globe and Mail
Published Friday, Mar. 25, 2016

There are two questions I ask of sales people that confirm this. The first is “Why do people buy from you and your company?” The answers I get are not only underwhelming, but often indistinguishable from other companies in their sectors. The answers are generic and usually communicate the vendors’ own view of themselves, rather than that of the market. In most instances, if I took out the name of the company I am with, and put in the name of their least worthy competitor, the effect and accuracy of the statement changes little, if any. Which means that unworthy competitor can compete with you and deliver the same underwhelming experience at a lower cost.

This is even more pronounced when I ask: “Give me three specific value or positive business impacts you have delivered to your clients.” Instead of talking about how they were able to reduce delivery time by X, leading to a gain in revenue of Y, and reducing the cash sitting in inventory by Z, I hear a stream of beige, empty-calorie words.
value_propositions  sales  personal_branding  specificity  jargon  think_threes  salesmanship 
march 2016 by jerryking
Bob Schmonsees Has a Tool for Better Sales, And It Ignores Excuses
Wall Street Journal | Tom Petzinger.

"Culture eats strategy for breakfast"

But WisdomWare depends on those same users to provide intelligence from the field: what the competition is up to, for instance, and which pitches are gelling the best and worst results. Sharing information? “We've never had to do that before!" came the cry. Platinum Technology, for one, equipped its sales force of 1,000 with WisdomWare in January. And although efficiencies are aiready evident. too few salespeople are giving back information. Platinum‘s Glenn Shimkus is now searching for ways to reward contributors. "We have to change the culture so that power and rewards come from sharing iniormalion. not from hoarding it.“
Thomas_Petzinger  sales  tools  sales_teams  organizational_culture 
march 2013 by jerryking
Venture Accelerator Overview
Sales Process Tools (Prospecting, Qualifying, Proposing, Closing, Roll-out)

Call Plans, Activity Targets, Sales Deliverables, Funnel Checklist, Forecast Process, Sales presentations, Sales Force Automation.
JCK  sales  sales_cycle  sales_presentations  sales_teams  sales_training  selling  templates 
december 2012 by jerryking
ASAP Interview_Don Valentine
Forbes ASAP | by Rich Karlgaard.

The great thing about evaluating markets first is that usually there are very poor data sources. So you have to create these scraps of information and most people don't do that--they prefer to make a judgement on some other basis, whether the product is patentable, whether the technology is differentiated, whether the people are world class. To us, you can scrape and push and dig and find out tidbits of information which when you put them together, you get a conviction about when something will happen. You talk to people in distribution, you talk to all the sources of information that you can, and you make a judgment....Are you solving a problem? Are there great installations of incompatibility that need to be linked? Who cares about this product? and do they care with a time frame that's important to us--eight years, the length of a fund?...To me, the most important person in management beyond the president has always been the sales manager. I want to meet and get comfortable with the guy who is going to create the backlog. This is different that marketing. Marketing runs the company, as it should, but it is the sales department that creates the orders and creates the cash-flow. So the sales manager is always a very important character to me, much more important that a log of other people. They must be relentless, driven and have enormous energy. Winning is terribly important to them, Where we've had great successes with companies, we've had great sales managers. Where we've had mediocre success with companies, we've had mediocre sakes managers. Nothing happens if you don't get a backlog.
Sequoia  Don_Valentine  Rich_Karlgaard  due_diligence  sleuthing  information_sources  sales  tacit_data  scuttlebutt  incompatibilities  primary_field_research 
june 2012 by jerryking
The Sales Learning Curve
July-August 2006 | HBR | Mark Leslie and Charles A. Holloway

Because new-product launches often take longer and cost more than expected, many promising offerings are prematurely aborted. Smart
companies give themselves time and money enough to climb the sales learning curve before ramping up the sales force.
HBR  sales  new_entrants  product_launches  learning_curves  new_products 
june 2012 by jerryking
The Sources of Wealth
MAY 19, 2012 | |By JACK FALVEY.

"it's mostly sales jobs that create wealth, and not just for the salespeople or companies who benefit, but for everyone who's part of a free-market economy.

Arthur (Red) Motley, the late, great advertising salesman for Parade Magazine, put a finer point on the answer: Before wealth and jobs can be created, somebody has to sell something."..."Spending one's life bringing real goods and services into the marketplace and selling them at a price greater than their cost creates the wealth of our nation. Yet it is rarely referred to as public service. Even less honored is the management of the process, especially when jobs are sacrificed to maintain profits. Nevertheless, eliminating jobs is a key to creating wealth. Redeploying assets is what creates the new jobs that continue a cycle of new wealth creation. "
wealth_creation  sales 
may 2012 by jerryking
"Portrait of a perfect salesman."
3 May 2012| Financial Times | Philip Delves Broughton.

Tips for closing any deal

Know the odds

Most salespeople face far more rejection than acceptance. Knowing how many calls or meetings it takes to make each sale helps develop the positive attitude vital to succeed. After all, 99 rejections may be just the prelude to that triumphant yes.

Find a selling environment that suits you

Some people are great seducers, others dogged persuaders. Some like to make lots of sales each day, others prefer making one a year. Some enjoy high financial incentives, others thrive on the human relationships. Decide who you are first, then find a sales role that suits your personality type.

Be your customer's partner not their adversary

Great salespeople create value around products and services that they can convey and deliver to their customers. Paying attention and acting in the interests of your customer rather than yourself is very difficult. But as information about price and features becomes more widely available, service and relationships become the real value in each sale.
sales  selling  Philip_Delves_Broughton  Salesforce  character_traits  personality_types/traits  customer_centricity  ratios  partnerships  relationships  rejections  salesmanship  salespeople  success_rates  customer_focus  pay_attention  positive_thinking  solutions  solution-finders 
may 2012 by jerryking
Small Firms Can Survive Squeeze By Revamping Marketing Efforts -
January 28, 2003 | WSJ | By JEFF BAILEY | Staff Reporter of THE WALL STREET JOURNAL. Small Firms Can Survive Squeeze By Revamping Marketing Efforts
(1) Measure your results.
(2) Building a brand is different from closing a sale. (In marketing your firm, decide whether broad-based brand awareness is a goal or whether you're merely looking for that next sale)
(3) Think narrow.
(4) You're not too small
small_business  sales  marketing  metrics  target_marketing  branding  measurements  narrow-framing 
may 2012 by jerryking
How to Hire A Sales Rep. pg. 2 of 2.
May 1994 | Nation's Business | by Jeanne W. Harvey
sales  hiring  selling  howto 
march 2012 by jerryking
How to Hire A Sales Rep. pg. 1 of 2
May 1994 | Nation's Business | Jeanne W. Harvey
howto  sales  selling  hiring 
march 2012 by jerryking
Create a Software Demo Presentation That Wows Prospects: 5 Mistakes to Avoid | MarketingSherpa
6 Feb 2007 | Marketing Sherpa | by Peter Cohan

"Most demos take 20 minutes or 40 minutes or -- God help you -- longer to get to the point," says Peter Cohan, Founder and Principal of The Second Derivative, a company that helps organizations such as Ariba and Business Objects improve the success of their business software demos.

Whether you're creating a demo to teach your sales force about a new product or for their use in the field, most marketers fall into the pit of five worst practices that leave viewers snoring.

1. Presenting a linear demo from beginning to end
2. Failing to focus on customer needs
3. Showing feature after feature
4. The one-demo-fits-all practice
5. Death by corporate overview

So, how do you put together a demo that works? Here are some presentation notes from Cohan.
presentations  Communicating_&_Connecting  linearity  marketing  mistakes  one-size-fits-all  sales  salesmanship  salespeople  sales_presentations  William_Cohan 
january 2012 by jerryking
End of the Cold Call? -

Small firms turn to innovative technology to make their search for clients a lot more effective.
cold_calling  small_business  LinkedIn  sales  tools  Jigsaw  Spoke  iProfile  digital_signage 
october 2011 by jerryking
The patter of a supersalesman
April 5 2011 / Entrepreneurship -By Emma Jacobs
entrepreneurship  entrepreneur  United_Kingdom  retailers  sales 
april 2011 by jerryking
It's amazing where The Beatles sometimes turn up!
Apr 03, 2006 | | HARVEY SCHACHTER
Presentations: Start with the customer, and end with your company
Most presentations and product demonstrations start with a corporate
overview of the company doing the selling. Instead, consultant Peter
Cohan tells MarketingSherpa you need to save the corporate overview for
the end and start with a powerful slide that captures the needs of the
buyer. The point is to say: "We understand the specific pain you are in,
and we can help you solve it." From there, move on to the actual result
if they buy your product -- the increased productivity or sales or
other benefit that will come from your services. Now you can take some
time to tell them the features of the product or service you are
offering, before ending with details on your company. He urges you to
leave 75 to 80 per cent of your presentation time for questions from the
presentations  Communicating_&_Connecting  Harvey_Schachter  pitches  Beatles  services  salesmanship  sales  enterprise_clients 
april 2011 by jerryking
Working Wounded: Find Big-Time Success at Work - ABC News
Feb. 29, 2008 | ABC News | By BOB ROSNER. Dear Working
WOUNDED: I'm a decent salesperson, but no rainmaker. How do you become a
big-time salesperson? Answer: Rainmakers aren't witch doctors who
dance to make it rain. Rather, they're salespeople who see markets
overflowing where most of us see nothing but desert. Below, I've listed
three dos and one don't for making sales fall from the sky. For more,
check out Ford Harding's book, "Creating Rainmakers" (Wiley, 2006).
DO Listen and synthesize. - Mr. Average assumes his most important tool
to making a sale is his golden tongue. While Ms. Rainmaker knows that
it's her ears.
DO Make a friend, not a sale.
DO Always be on the lookout. - have your eye on the horizon for that
next big sale.
DON'T Be part of the pack - make opportunities. Find the
not-part-of-the-pack marketing strategy for your product or service.
rainmaking  sales  selling  tips  prospecting  listening  differentiation  mindsets  books  packaging  creating_opportunities 
december 2010 by jerryking
Heat up your cold calls
Aug 20, 1998 | Business Forms, Labels & Systems. Vol. 36, Iss. 16; pg. 20, 1 pgs | Barbara A Bucci. :
ProQuest  cold_calling  sales  selling 
december 2010 by jerryking
Dig It !: May 2009
Sales advice, recommendations and interesting,
useful and fun news from the world of selling!
sales  selling  advice 
december 2010 by jerryking
20 Ways to Derail a Successful Sales Career | Company Activities & Management > Sales & Selling from
September 1 2002 | American Salesman | Bill Brooks.

#4.. They fail to prospect. Perhaps the greatest cause of failure in
salespeople is an inconsistent flow of qualified prospects. What causes
this? Becoming overly comfortable with existing customers, believing you
are in control of your marketplace... the list is endless.
#17. They never learn how to ask questions. Remember earlier I discussed
the concept salespeople fail to ask the right questions ... this is a
corollary to that flaw. Asking questions in the correct order, and in a
way that is non-threatening, open-ended and qualitative in nature, is
essential to sales success.
complacency  sales  selling  prospecting  tips  questions  sequencing  non-threatening  open-ended  qualitative  asking_the_right_questions 
december 2010 by jerryking
The dangers of getting comfortable - The Globe and Mail
Oct. 08, 2010 | Mark Evans. Another major challenge of having a
lot of business is making sure you don’t get fat, happy and complacent.
It is surprisingly easy to get comfortable when business is good
because there is less urgency and stress to find new customers. While
having steady customers makes life easier, it does not mean you should
rest on your laurels or take your foot off the gas.

This is a lesson I painfully learned when starting my business. After
hustling for a couple of months to get work in the door, I happily
settled into doing the job. The only problem was I stopped hustling so
that when the work was completed, the pipeline was empty. Needless to
say, there was a hot flash of panic before realizing that selling is not
something that can stop and start.
complacency  cost_of_inaction  sales  sales_cycle  Mark_Evans 
october 2010 by jerryking
Dear Book Lover: How to Get Kids to Read -
OCTOBER 1, 2010 | Wall Street Journal | By CYNTHIA CROSSEN.
I know libraries are under the budget gun today, but I wish they worked
a little harder at sales. "Too many libraries run like 'Helpy-Selfy
Supermarkets,'" wrote Margaret A. Edwards in her tart manual/memoir
about libraries and young adults, "The Fair Garden and the Swarm of
Beasts." "Many other institutions that serve the public and believe in
their product put skilled salespeople on the floor, not behind desks
waiting for the customer to approach them."
reading  howto  youth  libraries  books  cultural_institutions  sales  selling  memoirs 
october 2010 by jerryking
How to Hire a VP of Sales
September 21, 2010 | Harvard Business Review | by Steve
W. Martin. Give to Noel for pitching M.O. on his services. This article
specifically references the impact that a sales leader can have on a
start-up like Brand Celebration. For a small business in build mode, & Workopolis can't necessarily provide Brand Celebration
with the calibre of thought leadership on display here when it comes to
hiring a sales lead.. ... The VP of Sales is one of the most important
people within a company because this person is in charge of an
organization's most critical assets: customers and the revenue they
howto  HBR  hiring  recruiting  executive_management  talent_management  sales 
september 2010 by jerryking
Wanted: a new approach to inventiveness
Jul 27, 2010 | FT | Ranjay Gulati.

The economic crisis has forced many companies to rethink their innovation strategy. On the one hand, they have maturing products that can only be enhanced incrementally. At the same time, their customers have both more information on which to base buying decisions and less money to spend. ......the marketplace is tough, with some companies facing plummeting returns on their research and development spending.

There is, apparently, a dilemma: squeeze the R&D budget or bet the company’s future on finding the next market-disrupting “big” product.

Both approaches are wrong.

Redefining innovation
entails breaking out of engineer-led obsessions with the technical
product details and thinking closely about the customer experience: not
just how well the product functions but also ancillary enhancements that
improve that experience, including packaging, delivery, post-sale
service or mktg. Examples: (1) Packaging vegetables in a single bag
requires limited technical innovation but solves an everyday problem for
busy people who want their families to eat healthy food. Bagged salads
have become a $ billion industry. (2) Similarly, Target, the retailer,
broke no new high-tech ground when it offered its own-brand crisps in
resealable bags - the idea is decades-old but Target successfully
addressed a nagging problem (keeping crisps fresh). Redefining
innovation requires involving more voices in the innovation process,
including fns. such as customer svce., mktg. and sales, that may have
played a limited role in the past.
customer_experience  economic_downturn  HBR  innovation  inventiveness  marketing  problem_solving  sales  Target  UX  vegetables 
september 2010 by jerryking
Getting Back to Sales - You're the Boss Blog -
June 19, 2010 | New York Times | By JENNIFER WALZER. "Looking
back, I was focused on so many other areas of the company that I didn’t
spend enough time working with my former sales person. I realize now
that our training and support system for sales members needs to be
completely revamped.... Here’s what I’ve learned so far:
(1) I need to stay involved in selling.
(2) I now know now that I need stay connected to my sales
team...reviewing logs on a weekly basis and doing ongoing training.
(3) We need to update the list of questions we ask prospective clients
to ensure they are in our target market. Our goal is to scale sales,
and unless a prospect is willing to spend at least $150 a month in
services, we know it won’t be a good fit.
(4) I now realize I should always be on the lookout for great
salespeople. I never should have gotten stuck with only one person in
this role.
CEOs  sales  sales_training  women  support_systems  salespeople 
june 2010 by jerryking
The Best Way to Shorten the Sales Cycle - Sales Strategies - Selling Skills
Aug 1, 2007 | Inc. Magazine | By Jeff Thull.
(Charles Waud & WaudWare)
To shorten the sales cycle, we must bring clarity to our customers. There are three
challenges to address if we want to shorten the sales cycle time. (1)
The "decision" challenge. The customer must have a high-quality decision
process with which to make this type of decision.(2) Is the customer
really ready to address the issue of "change."? (3) Can the customer
measure the "value" /impact of your solution? Does the customer have
enough knowledge or a method to measure the value your solution will
provide pre-sale, and worse, left on their own, are they able to measure
the value they have received from your solution post-sale?
buyer_choice_rejection  clarity  decision_making  high-quality  measurements  ROI  sales  sales_training  sales_cycle  selling  think_threes 
march 2010 by jerryking
MARKETING: Selling by doing, not telling
20 Aug 2007| Globe and Mail Blog pg. B.5.| by Harvey Schachter.


If you're selling complex, intangible services, turn your next sales presentation into an action session where the client can sample what it is like to work with you. On, Charles Green tells of the firm that began its pitch session with: "We have 90 minutes with you. We can either do the march of a thousand slides, which we're happy to do, or we can get started now and begin to work with you. After 85 minutes we will stop, and you'll have first-hand experience of exactly how it feels to work with us." Buyers need a way to determine your expertise, and the best route is by offering them a sample rather than hearing you list your achievements.
presentations  execution  marketing  Harvey_Schachter  pitches  action-oriented  experiential_marketing  enterprise_clients  intangibles  services  sales  salesmanship 
march 2010 by jerryking
How to Land the Deal A Quick Course in the Basics of Selling to Business. - April 1, 2004
April 1, 2004 | Business 2.0 | By Brian Caulfield. (1) Be
Prepared (2) Master What You're Selling (3) Get Inside the Industry (4)
Look for Trouble (5) Know Who Your Friends Are (6) Find Out Who's Who
(7) Get In the Door (8) Make Your Pitch (9)
howto  selling  Sales  pitches  exits  B2B 
may 2009 by jerryking Monday Manager - Sales productivity
February 2, 2009 G&M column by Harvey Schachter looking at
how to reward your dailiy allocate of time. He relates a consultant's
points system.

1 for an attempted outgoing call or for an incoming call

5 for a face-to-face or telephone appointment

5 for attending a networking event

25 for attending a seminar, which helps build business.
Harvey_Schachter  productivity  sales 
february 2009 by jerryking - Full funnel: an image and a principle for sales success
May 4, 2005 G&M column by Harvey Schachter reviewing "Keeping the Sales Funnel Full" by Don Thomson.
Harvey_Schachter  sales  book_reviews  sales_funnels 
january 2009 by jerryking
Next in Line for Reinvention: The Art of Selling -
Jan. 28, 2008 | Wall Street Journal | by Phred Dvorak. Article
about Ram Charan's tips for rethinking sales. Includes tips for better
sales  selling  tips  Ram_Charan  gurus 
january 2009 by jerryking

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