Posts Tagged ‘Tribal Sales Knowledge’

How Many Companies Analyze Their Wins, Losses and No Decisions and Use That Information for Sales Training?

Tuesday, December 15th, 2009 by admin

Peter Ostrow of the Aberdeen Group recently published an insightful article titled Sales Training: Translating Tribal Selling Knowledge into Bottom-Line Productivity. In this article Ostrow clearly identifies key areas where sharing of tribal knowledge within a company’s salesforce is a necessary element create a “Best In Class” organization. But, as well written and detailed as this report is by the Aberdeen Group, it misses a critical area of application; the use of tribal knowledge to analyze and impact the sales pipeline itself and to learn from Wins, Losses and No Decisions.

This is an area that many companies don’t value enough or spend enough time analyzing. While most companies have an end of month sales meeting to discuss deals that were closed, lost, or pending, true analysis of the client decision making process is never really conducted and so opportunities to learn from the tribe is lost. These companies can’t really understand why they are winning, or more importantly why they are losing opportunities in which their salespeople are engaged. They miss the opportunity to spot trends, identify weaknesses, and share best practices. As a result, these companies are unable to capitalize on those strategies and activities that help them win business.

But Win/Loss learnings are only the tip of this analytical iceberg. One of the most overlooked aspects of the sales pipeline is those No Decision opportunities that linger and never close. Such opportunities block up the pipelines of so many salespeople. The problem is that many sales managers don’t have a formal process in place to properly analyze these stagnating prospects so that they can use them to train sales staff on identification and course correction techniques.

So, I’m curious…How many of you actually conduct Win/Loss/No Decision analysis, and what do you do with that information?

Sales Leadership On the Field and In Office

Tuesday, December 15th, 2009 by admin

The recession has meant a lot for different people but, for those sales representatives working double time to keep their respective companies afloat, these times have put a microscope on the day-to-day process and productivity of each team member.  It is probably an uncomfortable feeling for those used to working independently, but I see this as a golden opportunity for sales team members and executives to take their professional efforts to the next level.

There are so many inefficiencies within sales —both with the field reps interfacing with clients as well as with sales support teams producing irrelevant tools and processes.  So how can you take advantage of this emphasis on sales activity to showcase your abilities–both as a closer of businesses and as a leader within your organization?  How can you refocus the lens emphasizing its attention on short term activities versus both strategic and tactical discrepancies that need to be adjusted to creating a stronger sales team?  In order to leverage this opportunity to shine, consider a few ideas:

Capture Sales Process, Client, and Industry Details. Just because you may not be closing as quickly as before, it doesn’t mean you need to spend less time gathering industry knowledge and improving the sales process to help you (and your department) with future pitches.  Many organizations have a short term view of results.  However, recessions are times that challenge an organization’s ability to act quickly AND strategically, and this is where you can shine as a leader and showcase your determination.  For example, is this the time to think about innovative and collaborative ways to accelerate the sales process?  Have you thought about focusing your efforts on programs that activate your greatest sales force, existing customers, versus finding new ones?  When was the last time you got an updated brief on the most recent activities of a key industry for your organization?

Internal Networking. As a sales professional, you’re probably used to mingling at networking events or with key executives within a client’s organization.  However, have you applied these same principals when interfacing with associates at the company where you work?  Most sales reps are used to working outside of the office but, what many reps don’t realize is that organizations are directing most of their company’s efforts to support sales.  Sales professionals often interpret this attention simply as added pressure as opposed to an opportunity to be heard and exert sales leadership across departments.  Think about this next time you attend a product management meeting or when mingling in the kitchen with other floor colleagues.

Build relationships – Not only is it important to intersect with your clients and talk about business, it is also important that you pepper your interactions with activities strictly dedicated to  building relationships contacts inside and outside the office.  By building relationships I mean having conversations that don’t just “sell” but are focused on getting to know different aspects of that individual.  This may seem like “sales 101” advice but, with all the multi-tasking and accelerated rate of production, this seems like a forgotten art.  If you’re utilizing technology to keep up with people, then avoiding the “hard sell” is particularly important when building online relationships through social media channels.  I often tell the sales teams I train that, when building online relationships, usually the “long term” client relationship strategy often creates the quickest response.

There are many more elements to remember but, by implementing these, you’ll adjust your mindset (as well as those around you) to think about the core leadership elements that got your company off the ground and often make up the DNA of most successful sales individuals.


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