"All businesses need sales and most small and medium sized businesses are subject to the feast/famine paradigm. When they're busy, the first thing that gets pushed aside is prospecting for new business. Until business slows down. Then there's a flurry of sales activity and soon business is back where it should be. For a while. Most small businesses don't have bandwidth to prospect effectively in a consistent way."
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In my years of experience in sales and sales management, I have observed many small and medium sized sales teams. Often, they struggle to perform at capacity and hit their goals and it's a frequently a sales management issue. Sometimes it's because the CEO or business owner is the de facto sales manager and is wearing many hats. They are often just too busy running their business or spread too thin. Sometimes they're the technical experts in their field and their expertise and time is being used to improve products, systems or services. It's sometimes because a top performing sales person was promoted into a sales management role and their strength lies in salesmanship and delivering revenue to the business personally rather than in a broad sense. Below are five things you can do to improve sales management in your company now.
Many business owners have at best a rudimentary sales plan. If they do have one, often times it consists of higher and higher sales goals, without accounting for what will drive that new business. Will a new product line be added, a new market be opened or new additions made to the sales team? Will the company be able to support the added expense while markets are opened and new sales people trained? How much risk will the company bear? A good but simple sales plan takes this into consideration. Takeaway: Make a better sales plan with concrete steps to get to the desired goal.
There are many new technologies that make it easier to interact with prospects. Among them are CRM systems, collaboration tools, the cloud, dialers, email tracking, prospect and customer information systems. Existing systems are being upgraded all the time with the newest capabilities. All are designed to more efficiently and effectively reach more buyers, disseminate information, warm them up and help make sales. Social media platforms allow a business to extend its reach inexpensively and makes your business more visible to search engines such as Google.com. Takeaway: Evaluate new technologies on a regular basis to make sure you are keeping up and modernize as needed.
Training sales people serves three purposes. The first is that it provides them an opportunity to hone and refresh their skills. The second is that it reminds them that performance is important and that expectations for them performing well are high. The third is that it shows a willingness to invest in them and that they are part of the long term plan for the organization. Takeaway: Make sure you offer training to your sales people every year (a sharp axe cuts better than a dull one).
4. Lead Generation
All businesses need sales and most small and medium sized businesses are subject to the feast/famine paradigm. When they're busy, the first thing that gets pushed aside is prospecting for new business. Until business slows down. Then there's a flurry of sales activity and soon business is back where it should be. For a while. Most small businesses don't have bandwidth to prospect effectively in a consistent way.
Lists should be highly targeted and refreshed regularly. Technology should be used and a proven process followed. The technology should reinforce the process rather than detract from it. Top management should enforce the use of the technology and following of the process. Utilize social media and blogging to widen your reach inexpensively. Finally, no one can be an expert on everything so get help from the professionals when needed. Takeaway: Make prospecting part of the company routine and culture and call in the experts when needed!
You get what you measure is the old adage and it's mostly true. The challenge is top management often has a hard time pinning down the exact actions, activities and behaviors they are trying to encourage and measure. Here's a practical example. Maybe top management believes that offering free webinars will increase sales since it worked well in the past. So the goal is to run well attended webinars.
How will these webinars be promoted to prospects and clients? Will a set of emails be sent, starting a few weeks before the first webinar? Then a prospect list with email addresses will need to be purchased and loaded and a compelling email invitation created.
Will prospects be called and told about the webinars? Then phone numbers will be necessary, a script will need to be created and a person designated to make the calls. To track call results, an activity report should be created and run on a regular basis to test the messaging, to make sure the calls are being made and to analyze the prospect responses. Will the report be grouped by prospect type (or industry or state or city or source)? Then that data will need to be captured or imported for each prospect.
Finally, reports should measure the success of each webinar, so that results can be tabulated. How many people registered and attended are important to measure, as well as what happened to the prospect once the webinar was complete to determine the ROI. Takeaway: Create reports that measure actions, activities and behaviors that drive sales success, run them regularly and share the results.