Focus on the short-term can kill long-term growth Sometimes you must be the bearer of bad news. We are often asked, “what can we do now that will increase our sales this quarter?” Unfortunately, for most businesses, the answer is, “Not much.” Sales cycles are long and getting longer. Successes today are often the result of actions taken 3-9 months ago. And, while short-term solutions sometimes yield results, the success of a short-term push is usually insignificant when compared to the long-term opportunity. [...]
If making a lot of money in sales was easy, then everyone would be doing it. These ten things separate the winners from the losers in sales.
Television personality Jon Stewart once said, “The Internet is just a world passing around notes in a classroom.” One quick look at Facebook, Twitter, Yelp, Angie’s List or any of the websites on seemingly endless list of places one can express an opinion, and you can see Stewart was on to something. Here’s the scary thing, though, some of these notes are about you! Yep, it’s high school all over again, but here’s the difference: you can actually control those messages! Right [...]
In a July 6, 2016 New York Times column, writer Farhad Manjoo highlighted a quote from “Future Shock,” the 1970 book by author and pioneering futurist, Alvin Toffler. “Change is avalanching upon our heads and most people are grotesquely unprepared to cope with it.” Toffler, who died in June at the age of 87, coined the phrase future shock, referring to the psychological state of people, or a social sickness that occurs when there’s "too much change in too short a period [...]
It’s the day of the big sales presentation. You and your team put in countless hours making sure the PowerPoint is flawless, your brand is accurately depicted and your final sales pitch will be pontificated perfectly. Then you show up 10 minutes late (you’ve gotten lost and couldn’t find parking), you say hello to Steve (Scott) with a confident handshake before finding out your laptop can’t connect to the wireless network and you were supposed to bring a projector for your sales [...]
The eight-hour workday is an outdated and ineffective approach to work. Let go of this relic and try a new, more productive approach.
You can calculate your customer concentration risk by dividing the revenue from your top customer by the total gross revenue of your business in a year.
Meetings don't have to be inefficient! Use the following guidelines to increase productivity.
A disease could be afflicting your business right now, and chances are you wouldn’t even know it. It starts off slow, attacking the central nervous system of your business – the sales department – weakening the effectiveness of your sales staff by diminishing its ability to do the one thing it was born to do – sell. We call it sales sickness, and while its symptoms may seem like only minor inconveniences (sales staff bogged down with account management, a lack of [...]
It’s hard to believe that this actually happens, but some companies make it hard for customers to buy its products. Strange, right? Well, it does happen and it has to stop! If your company is doing and of these things, knock it off! Contact forms that go to nowhere. Someone is contacting you about a product, and you need to email them back. Clarification – a real person from your organization has to email them back, the automatic form submit email doesn’t [...]
A lot of companies have a sales organization, but what they really have is an account management organization – spending most of its time managing existing accounts instead of hunting down new leads. How do you know if your company has a sales team or not? Look back at the last 12-24 months calculate your customer base diversity ratio. Sales made to new customers -------------------------------------------- = Customer base diversity ratio Sales made to existing customers Your customer base diversity ratio should be [...]
Sales productivity is the #1 challenge for B2B organizations and it continues to decline. Consider these 7 helpful hints for increasing sales productivity.
Are you suffering from org chart disintegration? Since the recession of 2008, many companies have been operating lean — keeping the “do more with less” philosophy alive. While this seems like an effective way to maximize productivity while minimizing expenses, it has a harmful side effect. At the VX Group, we believe many companies – especially mature ones — are now seeing org chart disintegration – as people in traditional leadership roles are now devoting more time to short-term tasks [...]
Millennials have a reputation for not staying in jobs long. If that’s the case, sales managers need to quickly onboard them and get them selling. Doing so not only ensures they are productive for you in a short amount of time, but it could also make them want to stay with you longer.
The harder it is to explain the plan, the less you can expect people to carry it out.