Tag: sales

Categories
Sales & Marketing

The Metrics That Will Haunt Your Sales Team

Before you read on, take a moment to soak in all of the metrics that can be found in the infographic below. Those are sales metrics that basically mean you’re losing business and it’s all because no one is helping the sales team understand the numbers of sales.

For a sales professional their career is basically a never ending numbers game from targets, quotas to meetings per week. Their ultimate success and they reason they’ll be given a bonus is down to the number of sales they bring in which then brings me to the effectiveness of sales approach.

From a sales professionals point of view very few are going to spend the time inputting data and metrics that show how many times they called someone which also means they are incredibly unlikely to take the time to compile the data to analyse and determine the best course of action.

For a sales leaders point of view compiling data should really be your task to complete because you’ll also have the added benefit of not putting bias on data that is the strong point of a sales person rather you’ll be looking at the whole process from meeting to closing.

Once you understand the metrics and the data behind it you’ll soon begin to pick up on the sales people who are the all stars and laggards not by the number of deals they bring in but by they efficiency and effectiveness during the sales cycle.

This is key data that needs to then be shared with the team so that they can understand where they need to improve and where they are excelling because until then most sales people and leaders tend to rate success on the number of deals that are brought it.

However a fluid and efficient process not only limits the amount of missed opportunities, lack of follow ups and ultimately lost business it also helps to create a sales team that has a different attitude to the sales process.
sales infographic

Categories
Sales & Marketing

What I Learned From A Successful Small Business Owner About Sales

Yesterday I stopped in a large Fortune 500 retail chain to make a small purchase. As I was checking out, the clerk was looking at an inventory list that she was working on when I came to the counter, she hardly looked up, and then proceed to check me out. She muffled an obligatory “Thanks.” and handed me my receipt quickly as she began to look back at her inventory list.

I thought to myself, wow, if I was the CEO of the company, I would not be happy with the customer service. As a consumer, however, I quickly shrugged it off and accepted it as poor service that was not out of the ordinary, until today.

Today, I stopped in a small business and made another small purchase with a very different customer service experience. I was greeted with a friendly “Hello” and smile from the owner right when I walked in and was told to ask if I needed any help. I was then left to myself to complete my shopping. I checked out and he looked me in the eye, said, “Thank you, I really appreciate your business” as he reached out to shake my hand.

Wow. As I walked out, I felt really good about the interaction, just because he looked me in the eye and said a genuine “Thank you” with a handshake. That was it. That is all he did. Granted, maybe a handshake at a large retail store would be different, but maybe not a bad thing? Certainly a “Thank you.” while looking someone in the eyes would be appropriate.

What I learned from him is that the little, tiniest customer service experiences can have a huge impact on customer loyalty.

In the world of sales, make sure you are doing the simple little things, to have a huge impact:

1. Look people in the eye when you shake their hand.

2. State a genuine “Thank you.” when you have earned new business, set an appointment, or gained a commitment. Also, hand written “Thank You” notes never go out of style.

3. Always be early or on-time.

4. Never be late.

5. Be prepared.

6. Listen much much much more than you speak, please.

7. Smile and learn to laugh easily. (Both are contagious, good for your health, and make you more likeable)

8. Follow up when you say you will.

9. Don’t make promises you can’t keep.

10. Be kind and thoughtful.

About The Author:
Sales Coaching Expert, Jeremy Ulmer, has helped hundreds of sales professionals, sales leaders, and business owners just like you overcome sales challenges to increase productivity and win more clients faster. For 100’s of unbeatable, sure-fire ways to increasing your sales results, subscribe for your free sales tips or request a free sales coaching consultation at: http://www.SalesCoachingHabits.com

Yesterday I stopped in a large Fortune 500 retail chain to make a small purchase. As I was checking out, the clerk was looking at an inventory list that she was working on when I came to the counter, she hardly looked up, and then proceed to check me out. She muffled an obligatory “Thanks.” and handed me my receipt quickly as she began to look back at her inventory list.


I thought to myself, wow, if I was the CEO of the company, I would not be happy with the customer service. As a consumer, however, I quickly shrugged it off and accepted it as poor service that was not out of the ordinary, until today.


Today, I stopped in a small business and made another small purchase with a very different customer service experience. I was greeted with a friendly “Hello” and smile from the owner right when I walked in and was told to ask if I needed any help. I was then left to myself to complete my shopping. I checked out and he looked me in the eye, said, “Thank you, I really appreciate your business” as he reached out to shake my hand.


Wow. As I walked out, I felt really good about the interaction, just because he looked me in the eye and said a genuine “Thank you” with a handshake. That was it. That is all he did. Granted, maybe a handshake at a large retail store would be different, but maybe not a bad thing? Certainly a “Thank you.” while looking someone in the eyes would be appropriate.

What I learned from him is that the little, tiniest customer service experiences can have a huge impact on customer loyalty.


In the world of sales, make sure you are doing the simple little things, to have a huge impact:


1. Look people in the eye when you shake their hand.

2. State a genuine “Thank you.” when you have earned new business, set an appointment, or gained a commitment. Also, hand written “Thank You” notes never go out of style.

3. Always be early or on-time.

4. Never be late.

5. Be prepared.

6. Listen much much much more than you speak, please.

7. Smile and learn to laugh easily. (Both are contagious, good for your health, and make you more likeable)

8. Follow up when you say you will.

9. Don’t make promises you can’t keep.

10. Be kind and thoughtful.

About The Author:

Sales Coaching Expert, Jeremy Ulmer, has helped hundreds of sales professionals, sales leaders, and business owners just like you overcome sales challenges to increase productivity and win more clients faster. For 100’s of unbeatable, sure-fire ways to increasing your sales results, subscribe for your free sales tips or request a free sales coaching consultation at: http://www.SalesCoachingHabits.com

Categories
Home-Based Business

Home Business? Target the Ideal Prospects

Article Contributed by Tami Stodghill

If you think about it, there are “ideal prospects” out there everywhere. And they are ideal, for one, because they are used to commission-based sales and have learned to live and budget based on that. They are people who are open, usually, to alternative sources of income as they probably have had to be. Those ideal prospects I’m talking about are realtors and people who work at car dealerships and small business owners.

The economy has changed the game for these people. High-priced items such as homes and vehicles have fallen prey to the financial situation that so many people are affected by. Which means that with slower sales, their commissions suffer. And that means that your opportunity could offer them a great backup tool for generating income.

These potential prospects are located in every neighborhood, every city, and all around the globe. And if presented right, your opportunity could not only solve the issues they are facing, but grow your business in the process. We have found that by contacting these professions, they are generally open to new sources of revenue and are not as hesitant to try a business that could allow them to replace or supplement their income. They understand direct sales and commission structures and therefore, the need to explain exactly how those things work is unnecessary.

If your opportunity is thriving in this recession, then you can greatly benefit from targeting this type of customer. What will be most important in your approach, is that you present your opportunity with accurate and complete information as to what will be necessary for them to be successful. By presenting your product or service in a way which demonstrates how it is still a necessity or benefit in this economy, you will automatically show them that it is a viable source for them to run with. In our case, we learned everything we could about the real estate market and its current condition, researched specific areas and then targeted realtors and car dealer reps in those areas. We also know our product line inside and out, which assists us in better presenting all the benefits that the products offer, even in this economy. If you can spin your product as useful and with potential, it will help you sell your opportunity to these professions.

We also have talked more with small store owners. Our local printer/copy shop owner asked all about our business when we had some additional business cards printed. With small business owners suffering the effects of the economy (especially in storefronts) , many are looking for additional ways to generate income themselves. They still have their overheads such as lease, utilities, materials, etc, and with business down, they are wanting to find a way to “ride out” the slow business period by bringing in outside income. These businesses can be restaurants, salons, any type of small store/retail, auto body and detail shops, convenience stores owned by private owners, coffee shops, etc. All of them are being affected right now and have seen decreases in sales, so if you can present your opportunity in a way that will allow them to research the potential and reap all the information they can, you will find they will definitely consider your option.

We make it a point to stay friendly with every business we frequent. In maintaining a positive, outgoing and congenial attitude when you shop or visit a business, you will portray the benefits that your opportunity has afforded you. People will sense that the freedom and financial security that your business provides you is a viable option. And I can’t tell you how many times our simple, pleasant demeanors have started a conversation that has led to others wanting to know about what we do.

Take some time to familiarize yourself with your local businesses personally, or even those types of businesses via the internet. Your ideal prospect exists in many areas and you can actually utilize the economic situation to your advantage.

About the Author

Tami Stodghill was the Press-Relations manager, for a world-wide extensible-technology distributor based in London and the US for 20 years. She was also a freelance writer for several industry publications and is now a home-based business owner with WMI. She makes her home in Page-Lake Powell, Arizona, in the summers and Palm Harbor, Florida in the winters where she enjoys boating and reading, camping, hiking and meeting new people. She runs a blog site exclusively to offer tips for success for any small or home-based business.

Categories
Sales & Marketing

Home Business: Make Sales With a Millionaire Mindset

Article Contributed by Tami Stodghill

I have been contacted the last few weeks by some people who have purchased a business opportunity or are wanting to do just that. But many of them are concerned they are not “natural sellers”. They either have a limited past in sales, an unsuccessful past in sales or are worried they won’t be able to sell the opportunity/service/product in such a way that they will profit from their venture. When we started out, my past was NOT in sales.

Actually, our backgrounds were in Press Relations, Freelance Writing and Technical Support. We didn’t have to worry about quotas or reaching sales goals, so this was an issue for us as well. Would we have what it takes?

The answer is that anyone can be successful in sales. And all it takes is the proper mindset. Seriously. And if you can adopt that mindset, you will find success in your venture. I’ve covered other things that are important to home-business success, and please note that these are all still a must when it comes to achieving the kind of success that most people want—consistency, positive attitude, honesty, integrity and ongoing training and mentoring. But equally as important is the approach you take with your business. Adopting this mindset released us from fear of failure and being able to move forward with our business.

Stop right now and ask yourself, “if I had a million dollars in my bank account right now, would I be afraid of calling this prospect back and chancing rejection?” Because it will instantly change your approach and your selling technique. It will free you to speak with prospects honestly and openly and will take the “desperate” out of your sales pitch. You will relax and say what you mean—covering the best about your opportunity with total self-confidence.

Let me explain further, why this approach will make you the best representative you can be for your business…

When you convince yourself that each and every sale will not determine your success, and that you have breathing room, so-to-speak, your technique instantly alters to one that projects success. And people need to know that they can believe in YOU as well as the opportunity you are selling. Since I dealt with a great number of editors through email when I was in Press Relations, phone interaction was rarely needed and I have to admit that my phone skills cried out for a complete makeover. I dreaded dialing a number to return a call to a prospect and when I did, I instantly tensed up and got ready for the rejection. Obviously, I went nowhere fast. And through the advice of a seasoned colleague, I completely revamped my approach and mindset to that of a millionaire. And lo and behold—I found success.

People don’t want to buy into a business through someone who lacks confidence, seems beaten down or desperate. That’s all there is to it. They want to follow the lead of others who are experiencing success and who are relaxed in the pursuit of that success. By telling myself that no call I made would make-or-break me, I went into it without apprehension, without trepidation and without butterflies in my stomach. Every lead wasn’t going to decide my success or failure. There will always be people out there who are looking for something, and your opportunity might not be what they are looking for, no matter what your technique is. So to stress over it, only displays a business that isn’t that desirable. When you phone or contact prospects with confidence and with the attitude that you know you believe in your business, people gain a sense of trust and will, in turn, believe in your opportunity too.

Take a few minutes each day to ensure your mindset is what you need it to be to make every call and contact count. Tell yourself that your bank account reflects your success, so that the sense of desperation and “overselling” that can occur are no longer an issue. Our lives, and our business, changed the moment we took that advice. And I guarantee YOU will find that others will respond and will find what you have to offer is exactly what they want for themselves.

About the Author

Tami Stodghill was the Press-Relations manager, for a world-wide extensible-technology distributor based in London and the US for 20 years. She was also a freelance writer for several industry publications and is now a home-based business owner with WMI. She makes her home in Page-Lake Powell, Arizona, in the summers and Palm Harbor, Florida in the winters where she enjoys boating and reading, camping, hiking and meeting new people. She runs a blog site exclusively to offer tips for success for any small or home-based business.

Categories
Entrepreneurship

Become Your Own Boss For Less Than $10K

As 81 million American baby boomers begin to move into their retirement years, they are redefining what retirement means. For many, it doesn’t mean they’ve stopped working, but rather that they are exercising more choice over how they work. According to a 2009 survey, some 75 percent of people who chose to engage in some form of work found the work satisfying, and in four out of five cases, they were able to find white collar jobs for what are known as “encore careers.”
Picking the perfect second act for your career can involve trying a field that’s always interested you, helping out with a cause that you believe in, or getting a chance to run your own business.
If it’s running your own business that appeals to you, chances are you don’t want to sink a large chunk of your retirement savings into a new venture at this point. Therefore, the key is getting started with minimal investment up front. This is very possible these days, depending on how you set up your business, and what type of business you choose to go into.
Getting Started with a Shoestring Budget
To start a business with relatively little up front capital, the key is to minimize fixed costs. Variable costs–expenses of the pay-as-you-go variety–are preferable because they allow you to ramp up or scale back investment depending on how the business is going.
Here are some key tools for keeping fixed costs to a minimum:
• E-commerce Solutions. Who needs a business location when you have the Internet? The ultimate low-overhead storefront, the Internet gives you access to a world of potential customers. Utilizing e-commerce solutions is much cheaper than having a physical place of business where you receive customers. For example, it allows you to avoid the many expenses of having a retail outlet, such as rent, utilities, staffing, and insurance.
• Outsourcing Back Office Infrastructure. Rather than building a complete organization from scratch, try to outsource anything that isn’t central to the unique value proposition of your business. For example, functions such as customer support, credit card processing and human resources are only needed occasionally or periodically. Therefore, it makes more sense to utilize outsourced call center services for telemarketing or customer support or HR outsourcing for human resource activities than to try to staff it internally.
• Use Online, Social Media Strategies to Promote Your Business. Developing a full scale online social media strategy can seem overwhelming at first. But you can implement simple things by hiring interns to do the leg work such as starting a blog or using Twitter, and tracking different programs making adjustments along the way.
Low-Cost Entrepreneurial Business Ideas
If the above are some techniques for structuring a business with minimum up front investment, what are some lines of business which lend themselves to getting started with minimal capital?
One rule of thumb is that services generally require less investment than manufacturers or retailers, though with e-commerce some re-sellers can operate cheaply if they have tight supply lines and add value in the process. Focusing on services, the following are some examples of businesses that might be right for the current environment, and can be started on a shoestring.
• Business consulting. If many retiring boomers are going to be starting their own businesses, why not use your business experience to help show them how to do it?
• Green consulting. People are striving to become more energy-efficient, for economic and environmental reasons. If you have expertise in this area, consulting with businesses and homeowners on how to reduce their consumption is a natural.
• Public relations. If you have media and promotional experience, you could be in demand with the new wave of entrepreneurs starting their own businesses. In particular, bringing knowledge of modern promotional techniques such as social media strategies could be valuable to these new businesses.
• Employment counseling. Between a weak economy and an aging population, there are many people facing a career crossroads these days. Helping them find the right niche can be a good way to make use of any personnel experience you have.
• Online Lead Generation. Sales Lead Generation is growing by leaps and bounds as far as start up industries are concerned. This is a very special industry that affords flexibility and freedom that is unparalleled. And, there is even a significant demand for highly specialized lead generation consultants to help companies generate qualified sales leads in this market.
Running your own business may not have been your parents’ idea of retirement, but things are very different today. If you have the entrepreneurial itch, starting a venture might just give you the satisfaction and extra income to make your “golden years” more than just an expression.