The Center for Sales Strategy Blog

More than anything else, I write about industry, economic, and consumer trends at The Marketing Mind Blog. But there is one trend that deserves some attention here on this sales-oriented blog: 2014 has been the best year for job growth since 1999. That’s according to a story from CNN Money, but it’s not hard to find other evidence of solid employment growth.

This was another great week of stories told on the internet.

My job as a Talent Analyst and coach often allows me to be the fly on the wall within our client organizations. I am able to observe the performance of highly talented salespeople and sales managers and witness the milestones and potholes on their journey to success.  One of my greatest takeaways has been the value of effective performance feedback.  It is often the difference-maker between those that achieve greatness and those that don’t. 

In sales we often feel that if a prospect doesn’t buy from us we’ve somehow failed. Some sales managers reinforce this belief. The truth is that not all prospects are created equally. As with your active clients, some prospects are clearly better than others.

“I’ve got you at a 10 and I need you at a 5.”

I say that to my youngest son sometimes… when he is coming at me full-steam and talking to me a mile a minute. Of course I say it in a joking way, and he knows what I mean—that I need him to slow down a little bit so I can actually understand what he is trying to tell me.

Last week, my daughter-in-law arrived at our house with two really enthusiastic grandkids after a stop at the mall. My granddaughter was carrying a brand new Build-a-Bear. And my grandson was all fired up about a new bag of Legos he was allowed to buy… and couldn’t wait for help from Grandpa in building something really cool.

Is it just me, or have you noticed an increase of quality writing on the internet? I hope the trend continues.

Here's what piqued our interest this week:

1. 5 Unexpected Storytelling Lessons from Beth Comstock {From Rohit Bhargava}

Prior to the holidays, the trades were publishing articles and digital pundits were posting blogs on what they felt would happen at the digital cash register over the largest consumer purchasing time of year. Many exploited Target’s and Home Depot's infamous 2014 data breaches in predicting that these chains would experience the worst holiday retail season ever, citing lack of consumer confidence in identity protection as the reason why.

Markets ebb and flow, and it seems a greater number of variables than ever before can impact one’s performance in a quarter or a year. Certainly there are things that happen beyond your control, so let’s look at what’s within your control—what you can do to ensure that you will deliver on your sales quota this year?

1. Get Closer To Your Key Accounts

Unless you are in a business where you sell something once and move on, the work you do on behalf of your Key Accounts has more impact than anything else you can do when it comes to delivering your quota. You’ve heard of the Pareto Principle, aka the 80/20 rule. It’s true. In most businesses, between 75% and 80% of the revenue comes from only 25% of the customers they do business with. And it’s very likely true for your own book of business. The last thing you want to do is lose a Key Account, and most of them have untapped potential for new business.

So for each of your Key customers you should set a goal to renew your needs analysis at least quarterly, perhaps more often. New needs require new solutions, so knowing those changing needs helps make sure you are part of each new solution. Work to increase the number of decision influencers with whom you have contact within the account. Not only does this help you keep your current business in place, but also new influencers often have new problems that need to be addressed. Can you help?