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Other Added - Sales Prospecting and a Targeted Selection Process
Unlike other marketing tools, newspaper classified ads bring forth a number of options for consumers, through the large classified advertising opportunity that they present. As a result, a consumer can make a decision after considering all the newspaper classified ads. From the point of view of an advertiser newspaper classified advertising has the potential of reaching a very wide audience. As a result, placing a classified ad in a newspaper is beneficial for both the consumers and the advertisers. You can gather the classified advertising info and details of various packages that are offered by different newspapers through consultants or even by carrying out an online search.Planning a targeted classified advertising campaign After gathering cl
That sounds like a bit of work. But what historically happens with a ‘Top-down’ approach in line with sales performance KPI’s?
1. 1st appointment to Proposal ratio increases 2. Closing ratio increases 3. Sales cycle decreases 4. Average revenue per sale increases
OK. We agree that’s a no-brainer. So it all comes down to the 1st and foremost sales performance indicator, your Conversation-to-appointment ratio. That’s simply how many times you conduct a conversation with a target prospect versus how many times you achieve one. And the national average on that KPI is between 4% and 18%; Top-down or Bottom up approach. So it takes 10, 12 or 20
It may be a concept that was once a remote consideration for your business concerns, but help desk outsourcing is a real, viable and practical option that many enterprises are resorting to in this day and age. The reason is simple: you get the same high quality work for a more economical price.There is no denying the importance of help desks for any business, especially retail enterprises that live by the reputation of their brand, hence, they have to provide some excellent post-sale services. As such, this component is considered as a necessary investment, as it will ultimately redound to the benefit of the business itself.Help desk outsourcing is the contracting of outside service providers to man your customer or technical support departme
But here’s what’s important to understand. Your Targeted Selection Process is a separate component of your sales strategy. It stands by itself. But it is directly allied with your other Sales performance indicators. The degree of success you’ll have in the business of sales is proportional to raising and maintaining these success indicators to a level more proficient than the industry norm. And the direction you decide to travel is strategic to the outcome. I call it the ‘Playing Field’. Because that’s where it all starts… it’s where the game begins.
Here’s what I mean. There are basically (2) strategies in picking your ‘Playing Field’; a ‘Bottom-up’ approach or a ‘Top-down’ approach. The following is an example of a Bottom-up approach. A Telecommunications rep initiates a telephone call into a company and asks the question “Who handles your telecommunications needs?” Guess where they are sent? If you said ‘office manager’ you guessed right. If you said ‘Head Janitor’ you weren’t far off.
Is there anything ‘wrong’ with that? Not really; it’s legal and a lot of folks out there do it. But let’s think through this option as a ‘Business person’ would. Let’s study it as it relates to our sales process and individual Key Performance Indicators (KPI); Conversation-to-appointment ratio, 1st appointment to Proposal ratio, Closing ratio, sales cycle and average revenue per sale. Because these success indicators are gateways that directly affect the outcome of a sales process.
Do your KPI’s go up or down with a bottom-up approach? Historically, a bottom-up approach promotes a:
1. 1st appointment to Proposal ratio to decrease 2. Closing ratio to decrease 3. Sales cycle to increase 4. Average revenue per sale to decrease
Bottom line, you’ll be leaving time and money on the table if you choose this Target strategy. We’ll revisit the Conversation-to-appointment KPI in a minute.
At the other end of the Target spectrum is the ‘Top-down’ strategy for securing a new Targeted business appointment. Let’s say that same telecommunications rep chose this approach in prospecting for new business. The first step in this process is ‘Homework’; some due diligence prior to picking up the telephone.
Activities like:
• Gathering a list of appropriate industries • Assigning the highest appropriate level of contact to each account; by company size and industry • Researching contact name for each appropriate title and account • Researching what each business does to exist and prosper
That sounds like a bit of work. But what historically happens with a ‘Top-down’ approach in line with sales performance KPI’s?
1. 1st appointment to Proposal ratio increases 2. Closing ratio increases 3. Sales cycle decreases 4. Average revenue per sale increases
OK. We agree that’s a no-brainer. So it all comes down to the 1st and foremost sales performance indicator, your Conversation-to-appointment ratio. That’s simply how many times you conduct a conversation with a target prospect versus how many times you achieve one. And the national average on that KPI is between 4% and 18%; Top-down or Bottom up approach. So it takes 10, 12 or 20
Feedback should be given as per merit and must be constructive. Imagine a child who keeps on making mistakes in his studies. If we were to give only negative feedback, the child is supposed to be rebuked everytime he does something. No one will argue about the damage this does to a child's psychology. Instead if small mistakes are considered as a part of the child's development process and proper encouragement is given, we will have a constantly learning student with enthusisasm and confidence.Feedback must be given as deserved. Consider an new artist who has just exhibited his first paintings. If critics -instead of appreciating the positive aspects of his work and giving him the impetus he needs- try to belittle him with negative feedback, find mi
Here’s what I mean. There are basically (2) strategies in picking your ‘Playing Field’; a ‘Bottom-up’ approach or a ‘Top-down’ approach. The following is an example of a Bottom-up approach. A Telecommunications rep initiates a telephone call into a company and asks the question “Who handles your telecommunications needs?” Guess where they are sent? If you said ‘office manager’ you guessed right. If you said ‘Head Janitor’ you weren’t far off.
Is there anything ‘wrong’ with that? Not really; it’s legal and a lot of folks out there do it. But let’s think through this option as a ‘Business person’ would. Let’s study it as it relates to our sales process and individual Key Performance Indicators (KPI); Conversation-to-appointment ratio, 1st appointment to Proposal ratio, Closing ratio, sales cycle and average revenue per sale. Because these success indicators are gateways that directly affect the outcome of a sales process.
Do your KPI’s go up or down with a bottom-up approach? Historically, a bottom-up approach promotes a:
1. 1st appointment to Proposal ratio to decrease 2. Closing ratio to decrease 3. Sales cycle to increase 4. Average revenue per sale to decrease
Bottom line, you’ll be leaving time and money on the table if you choose this Target strategy. We’ll revisit the Conversation-to-appointment KPI in a minute.
At the other end of the Target spectrum is the ‘Top-down’ strategy for securing a new Targeted business appointment. Let’s say that same telecommunications rep chose this approach in prospecting for new business. The first step in this process is ‘Homework’; some due diligence prior to picking up the telephone.
Activities like:
• Gathering a list of appropriate industries • Assigning the highest appropriate level of contact to each account; by company size and industry • Researching contact name for each appropriate title and account • Researching what each business does to exist and prosper
That sounds like a bit of work. But what historically happens with a ‘Top-down’ approach in line with sales performance KPI’s?
1. 1st appointment to Proposal ratio increases 2. Closing ratio increases 3. Sales cycle decreases 4. Average revenue per sale increases
OK. We agree that’s a no-brainer. So it all comes down to the 1st and foremost sales performance indicator, your Conversation-to-appointment ratio. That’s simply how many times you conduct a conversation with a target prospect versus how many times you achieve one. And the national average on that KPI is between 4% and 18%; Top-down or Bottom up approach. So it takes 10, 12 or 20
Who would expect that watching a fifty year celebration for Larry King would get me thinking about the attributes of great coaches, sales professionals, clients, consultants, you name it. The other night while watching Larry being interviewed by Katie Couric, Katie asked Larry what makes a great guest. His response got me thinking. Larry said they have PASSION; they are able to clearly ARTICULATE what they do; they have a CHIP ON THEIR SHOULDER and they have a SENSE OF HUMOUR.Larry named a few examples, such as Frank Sinatra, who had all four attributes, and Jimmy Hoffa, who by the way lacked a sense of humour. Go figure! I started to think about all his guests and who was the most engaging of them. True enough. They were all passionate abou
Is there anything ‘wrong’ with that? Not really; it’s legal and a lot of folks out there do it. But let’s think through this option as a ‘Business person’ would. Let’s study it as it relates to our sales process and individual Key Performance Indicators (KPI); Conversation-to-appointment ratio, 1st appointment to Proposal ratio, Closing ratio, sales cycle and average revenue per sale. Because these success indicators are gateways that directly affect the outcome of a sales process.
Do your KPI’s go up or down with a bottom-up approach? Historically, a bottom-up approach promotes a:
1. 1st appointment to Proposal ratio to decrease 2. Closing ratio to decrease 3. Sales cycle to increase 4. Average revenue per sale to decrease
Bottom line, you’ll be leaving time and money on the table if you choose this Target strategy. We’ll revisit the Conversation-to-appointment KPI in a minute.
At the other end of the Target spectrum is the ‘Top-down’ strategy for securing a new Targeted business appointment. Let’s say that same telecommunications rep chose this approach in prospecting for new business. The first step in this process is ‘Homework’; some due diligence prior to picking up the telephone.
Activities like:
• Gathering a list of appropriate industries • Assigning the highest appropriate level of contact to each account; by company size and industry • Researching contact name for each appropriate title and account • Researching what each business does to exist and prosper
That sounds like a bit of work. But what historically happens with a ‘Top-down’ approach in line with sales performance KPI’s?
1. 1st appointment to Proposal ratio increases 2. Closing ratio increases 3. Sales cycle decreases 4. Average revenue per sale increases
OK. We agree that’s a no-brainer. So it all comes down to the 1st and foremost sales performance indicator, your Conversation-to-appointment ratio. That’s simply how many times you conduct a conversation with a target prospect versus how many times you achieve one. And the national average on that KPI is between 4% and 18%; Top-down or Bottom up approach. So it takes 10, 12 or 20
It really pains me when leaders talk about employees who don't perform to minimum standards. It seems that rather than take on the problem, leaders often find it easier not to confront the issue. A big part of leading people is helping them understand when they are doing well and not doing so well. It is especially important to recognize someone at once when they are doing a good job. When they need to improve, your job is to coach them to better performance.Some keys of coaching are: 1. Information: Know what is going on with your staff 2. Listen with empathy 3. Be aware of the work environment. This comes from talking to people 4. Instruct staff so they know exactly what is expected 5. Giving feedbackGood coaches are good role models. They
Bottom line, you’ll be leaving time and money on the table if you choose this Target strategy. We’ll revisit the Conversation-to-appointment KPI in a minute.
At the other end of the Target spectrum is the ‘Top-down’ strategy for securing a new Targeted business appointment. Let’s say that same telecommunications rep chose this approach in prospecting for new business. The first step in this process is ‘Homework’; some due diligence prior to picking up the telephone.
Activities like:
• Gathering a list of appropriate industries • Assigning the highest appropriate level of contact to each account; by company size and industry • Researching contact name for each appropriate title and account • Researching what each business does to exist and prosper
That sounds like a bit of work. But what historically happens with a ‘Top-down’ approach in line with sales performance KPI’s?
1. 1st appointment to Proposal ratio increases 2. Closing ratio increases 3. Sales cycle decreases 4. Average revenue per sale increases
OK. We agree that’s a no-brainer. So it all comes down to the 1st and foremost sales performance indicator, your Conversation-to-appointment ratio. That’s simply how many times you conduct a conversation with a target prospect versus how many times you achieve one. And the national average on that KPI is between 4% and 18%; Top-down or Bottom up approach. So it takes 10, 12 or 20
So, it seems pretty safe to say that if you are familiar with the general questions one can be asked, you can answer them very confidently AND ease the pressure you may experience. Do you recall your high school or college speech class? Many of the techniques utilized during a speech can also be helpful during your interview. It may feel like an oral examination, but there will always be one aspect in your favor: nine times out of ten, there are no wrong answers! As far as the person conducting the interview is concerned, the questions are available for them to learn about you. Therefore, who better to have the correct answers concerning yourself then, well . . . yourself!There are more ways nowadays to find assistance with job interviews -- and the
That sounds like a bit of work. But what historically happens with a ‘Top-down’ approach in line with sales performance KPI’s?
1. 1st appointment to Proposal ratio increases 2. Closing ratio increases 3. Sales cycle decreases 4. Average revenue per sale increases
OK. We agree that’s a no-brainer. So it all comes down to the 1st and foremost sales performance indicator, your Conversation-to-appointment ratio. That’s simply how many times you conduct a conversation with a target prospect versus how many times you achieve one. And the national average on that KPI is between 4% and 18%; Top-down or Bottom up approach. So it takes 10, 12 or 20 conversations to achieve 1 or 2 appointments. And that’s a lot of work. In fact, JDH Group studies show sales individuals spend an average of 50% of their time on prospecting activities, or about 22 hours per week.
That leads a sensible person to the conclusion that one needs to focus on efficiencies in Prospecting. And to secure those ‘Competencies’ one must develop a communication ‘system’ in line with your business solutions, your ‘Top-down’ Prospect perceptions and your competitive influences. Not from a product/service angle, that’s ‘selling’ over the telephone. But a communications methodology that lends itself to ‘Business acumen’; insight into what is strategic to your target prospect’s business objectives, what pains they are facing due to recent events or what changes are on the horizon that may effect their current status quo.
Next is figuring out how to communicate to your ‘Top-down’ target the prospective benefits of your product/service in terms relevant to their financial Key Performance Indicators; line items like ROI, IRR and Payback Period. Those are success indicators that organizations rely on to measure progress toward their organizational goals. It’s their ‘Scorecard’.
So lesson number one. When you’re addressing a target level that has Budget authority; a President/Owner of a small company or a CFO/Controller of a medium size one, you’d better be talking terms in line with what they need to accomplish, not in a ‘sales language’ creating a prospect perception that you’re (1) don’t understand their business and (2) are simply trying to make a living. From a 10,000 foot altitude, understand and communicate what’s on your ‘Top-down’ target prospect’s ‘Front Burner’ business objectives…not clear over in the freezer!
You can choose not to accept the standard ‘sales 101 playing field’. Identify your individual performance components (KPI’s) that are essential to your success and develop or seek systems to raise your competency ratios and performance efficiencies. And start your process by picking a ‘Top-down Playing Field’ and educating yourself to their world.
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