Eroding market share, commoditization of offerings, margin contraction, slipping revenue, inaccurate forecasts, extended sales decision cycles are oft times cited as issues that need solving. However, each of the above items is a symptom that requires further analysis. Just like a doctor, you must recognize the symptoms, drill down to root cause, properly diagnose and then continually nourish. The root cause chain goes something like this … Collectively sales teams:
- are pursuing too many unqualified prospects that result in no fruit for the labor (as high as 95%), because they ...
- are selling at least 1 to 2 levels below where they should be selling organizationally, because they ...
- lack relationship capital with decision-makers, because they... · are not comfortable selling high, because they...
- lack knowledge about the vertical and the role(s) that they should be selling to, …. etc., etc., etc.
To hit new levels of sales effectiveness it is critical that the marketing and sales teams are aligned. In today’s environment, as the buying executive’s time is squeezed, it is more important than ever that a sales executive quickly gain the confidence and credibility necessary to add value to the senior-level executive. Without this, says Bob Beck, author of the book Mutual Respect, “the sales person will quickly be thrown under the bus with all the other quota-carrying sales reps”. In order to earn that “Trusted Advisor” tag the sales rep must have (not appear to have … HAVE) instant credibility with the executive to gain access to even have a conversation. The sales rep has to clearly show the executive that they “get them” … that means they ask targeted, open-ended, conversational questions that demonstrate a solid grasp of the client’s vertical, their role, issues they are having, how those issues impact others in the organization, some potential solutions and do so in vertical-specific language in a way that helps the client draw their own conclusions and value. And … to maintain strategic relationship advantage we must constantly collaborate internally, adapt, and learn from successes and failures.
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