The Center for Sales Strategy - Sales Strategy Blog (96)

Why 75% of Proposals Will Never Close, and 10 Ways to Improve

by Matt Sunshine, on July 16, 2020

Why 75% of Proposals Will Never Close and 10 Ways to Improve

The market's uncertainty has left many companies with an uncomfortable and frustrating bloated feeling in their sales pipeline.

Even before the pandemic, you could have easily convinced me that compensation plans changed radically and that people in sales were getting paid based on pending business. Every time I asked a salesperson how they were doing, I received the same response: "I’ve got a lot pending!”

Pre-pandemic, I reviewed over 500 proposals from various B2B sales organizations over the course of six months. These were all legitimate proposals, actually presented to a prospect or client. Based on those proposals, and the bloated pipeline many of you are experiencing today, here's some valuable insight on how to close more business.

3 Comments

Topics: Proposal Sales sales process

Are You Ready to Build a Sales Assembly Line?

by Trey Morris, on July 15, 2020

Are You Ready to Build a Sales Assembly Line

Last week, we discussed why the sales industry needed a Henry Ford assembly line. We determined that while the technology that we use has changed over time, our sales structure’s foundation has not.

Before Ford's assembly line, auto manufacturers built cars one-at-a-time. They hired a skilled artisan who would build the vehicle from the ground up, which meant that Ford had to hire people who knew every aspect of the vehicle. From connecting an engine to a frame, steering to the chassis, installing seats, builders had to know how to do it all.

It’s what we expect salespeople to do with radio and television stations. Don't we still expect salespeople to also do it all?

0 Comments

Topics: sales structure IMPACT

Weekly Roundup: COVID-19 Impact on Q2 and How to Move Forward

by Amanda Meade, on July 10, 2020

- MOTIVATION -

"A bend in the road is not the end of the road unless you fail to make the turn."

-Helen Keller

- AROUND THE WEB -

<< If you only read one thing >>

How COVID-19 Impacted Businesses in Q2–HubSpot

Since COVID-19 was declared a global pandemic on March 11, businesses have had to reckon with its economic impact for over a full quarter.

Now that businesses have closed the books on Q2, HubSpot took a step back and assessed where their customers are, four months later. How does the state of business compare today to where it was in March? How have teams changed their behavior to adapt to the new economic climate? What's worked, and what hasn't? And what changes are here to stay?>>>READ MORE

0 Comments

Topics: Wrap-up

Statistics That Will Help Convert Sales Leads Quickly

by Amanda Meade, on July 8, 2020

Statistics That Will Help Convert Sales Leads Quickly

How fast does your team move when a lead comes in? A lead response study of 2,241 US companies showed that the average first response time of B2B companies to their leads was 42 hours.

A quality lead degrades over time. Every aspect, from the channel you select to the amount of time you take to respond, impacts your prospect’s decision. Whether you conduct your sales outreach by phone, email, or social media, timing is crucial — and here’s the data to back it up.

0 Comments

Topics: sales process

The Sales Industry Needs a Henry Ford Assembly Line

by Trey Morris, on July 7, 2020

The Sales Industry Needs a Henry Ford Assembly Line1

History is fascinating! You can learn so much from the past. The History channel offers some amazing documentaries that can enlightening for those of us that want to learn from the past to improve our future. One of the most popular series on History is the "The Men Who Built America". These epic documentaries tell the story of how great men and women shaped our country through their entrepreneurial spirits and built companies and brands that built America.

The latest series, "The Cars that Built America," obviously highlight stories of American auto manufacturers. And, you can’t talk about automobile history without telling Henry Ford's story. As a visionary, Ford was an entrepreneur that developed many of the best practices that companies still use today. The most famous of his designs was the assembly line.

0 Comments

Topics: sales structure IMPACT

Trust-Building Questions to Ask in the Workplace

by Deborah Fulghum, on July 6, 2020

Trust-Building Questions to Ask in the Workplace

Have you ever participated in a trust building exercise? They have been the craze for years. There have been a few fun ones, like Escape Rooms, but there have also been a few you wish to forget, like “trust fall.” Seriously, who enjoys blindly falling backwards hoping someone will catch us?!

Team building exercises are a great way to form relationships and build reciprocity. But developing trust takes time—much longer than one afternoon—and activities alone are not how a foundation of trust is established. Building an effective team starts by asking thoughtful questions. Those questions spark conversation, providing team members an opportunity to share bits of information about themselves, and over time, leading to more trust and engagement—improving team productivity along the way.

1 Comment

Topics: sales performance company culture employee engagement

Weekly Roundup: Go Fourth with Knowledge

by Amanda Meade, on July 3, 2020

- MOTIVATION -

"Freedom is nothing else but a chance to be better."

-Albert Camus

- AROUND THE WEB -

<< If you only read one thing >>

7 Enduring Trends Defining the Future of Sales–LinkedIn

Sales organizations adapted quickly to the new reality brought by COVID-19. LinkedIn research showed that salespeople, suddenly working remotely, embraced virtual selling almost immediately:

77% of salespeople said they were holding more video meetings
57% said they were making more phone calls
51% said they were sending more emails

With conferences and other opportunities for face-to-face meetings sidelined in the current environment, LinkedIn’s new State of Sales Report 2020 found that COVID-19 is having more than a short-term impact. Our research indicates that seven long-term sales trends that were already in motion are accelerating in today’s economic conditions. Read on for a closer look at these seven enduring trends.>>>READ MORE

0 Comments

Topics: Wrap-up

Are You a Thought Leader? 6 Ways to Tell

by Matt Sunshine, on July 2, 2020

Are You a Thought Leader? In every industry, there are people or businesses we think of as being thought leaders. These people and organizations are the ones that you check on regularly with regard to innovation, market challenges, and new initiatives.

Being considered a thought leader in your industry is certainly an advantageous position to have, as it helps with lead generation, sales, recruitment and retention, new business opportunities, and more.

0 Comments

Topics: content strategy thought leadership sales strategy Inbound Marketing

Do You Have a People Problem or The Wrong Sales Structure?

by Stephanie Downs, on July 1, 2020

Do You Have a People Problem or The Wrong Sales Structure

How do you know if you have a sales structure problem? Too often, sales organizations are evaluated single-handily by their results. If your company isn’t hitting targets and sale goals aren’t being achieved, the blame falls on not having the right salespeople. But, is the source of lost revenue really a “people” problem?

Underperformance is easily blamed on salespeople because data often helps support the claims. However, while we always seek to improve the performance of sales teams, there are a few indicators that show you may have more than a people problem.

1 Comment

Topics: sales performance IMPACT

How Sales Technology Can Strengthen the Human Touch in Selling

by Dean Moothart, on June 30, 2020

How Sales Technology Can Strengthen the Human Touch in Selling

From being quarantined in our homes to keeping six feet apart and avoiding handshakes, the way we interact with other humans has drastically changed. In the business environment, the normal behaviors and tactics that salespeople have relied on to drive their success are no longer available. We can no longer drop by to see a client, meet a prospect for lunch, or fly to another city for a face-to-face meeting. More and more selling is now being conducted over the phone and via email.

And this isn’t a short-term trend. The U.S. Chamber of Commerce reports that “a new normal has developed for businesses of all sizes across nearly all industries, with changes likely to endure even after COVID-19 is a thing of the past.” We may have lost a few tools from our sales toolbox, but we’re going to replace them with new ones that we can use to build relationships and advance the sale.

0 Comments

Topics: sales process sales enablement

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The Center for Sales Strategy Blog

Why 75% of Proposals Will Never Close, and 10 Ways to Improve

Are You Ready to Build a Sales Assembly Line?

Weekly Roundup: COVID-19 Impact on Q2 and How to Move Forward

- MOTIVATION -

"A bend in the road is not the end of the road unless you fail to make the turn."

- AROUND THE WEB -

<< If you only read one thing >>

How COVID-19 Impacted Businesses in Q2–HubSpot

Statistics That Will Help Convert Sales Leads Quickly

The Sales Industry Needs a Henry Ford Assembly Line

Trust-Building Questions to Ask in the Workplace

Weekly Roundup: Go Fourth with Knowledge

- MOTIVATION -

"Freedom is nothing else but a chance to be better."

- AROUND THE WEB -

<< If you only read one thing >>

7 Enduring Trends Defining the Future of Sales–LinkedIn

Are You a Thought Leader? 6 Ways to Tell

Do You Have a People Problem or The Wrong Sales Structure?

How Sales Technology Can Strengthen the Human Touch in Selling

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