I always find it funny when I meet a salesperson that wants to make a ton of money without learning, practicing, and developing their sales skills. They know that sales is a "numbers game", but they do not know what their sales numbers are or how it can earn them success. They do not make the time or devote the energy to learn the skills and strategies to maximize the sales numbers game and achieve their ultimate success.
The first step is to admit it is a learned skill. You might be a "natural salesman" but you still need to hone your skills. Just like professional athletes, you need to master the basics:
· Know the value of your products and how they add value to your customer
· Know your customers...their business needs and challenges
· Be open, honest, and ethical. People buy from people they trust so your integrity, follow through, and sincerity are worth your weight in gold.
So where do you learn to sell? Here are some of my favorite places to learn Sales techniques:
* Sales Books/seminars
* Mentors and coaches
* Great Sales people
* For some of us, our parents (this is how I think sales people can be born)
The second step is to know the numbers:
People will say often that sales is a #s game. But so few people know what they are. They say what the numbers are and what to do with them. I have been fortunate enough to build my professional career around the creation and development of those sales numbers.
The way it works is to pick 4-5 measurable events that will move you through from the first time you engage a customer to when you solidify a deal. Ask yourself:
· What are the main pieces I need to accomplish to create a buying customer? · What thresholds or obstacles do I overcome that let's me know I am closer to sale (or just lost a sale)? · What are my common barriers to completing a sale?
By answering these types of questions, you will being to develop you sales formula. In a past life, I developed simple numbers that was used a basis for a 500 salesperson environment that drove $400 Million a year in revenue. The basic numbers were simple, it was also the sales numbers that was the basis for the entire organization.
50 Cold Calls = 10 Contacts = 5 Quotes = 1 Sale
It might sound simple; the truth is that with a little practice and persistence, it is! Give it a try with your current sales environment.
The third step is to know how to manage the numbers and to work the formula
Once you have the formula that will drive your success, you need to do the hard part and learn to work the formula.
For a Sales rep:
· What is your formula?
· How do you track results?
· What could you be doing to better increase your results?
· How do you compare against the best in your company/industry?
· Who do you go to for coaching?
For a Sales Manager/Executive:
Once you know what you are going to measure, you need to create a baseline with
· Where you are now
· Where you want/need it to be
· How much revenue you can make per employee (tends to scale up as tenure increases)
· How scalable do you want this to be? Many organizations used a formula that works for 10 people, then 100, then 1000 people.
If you can build a model that drives revenue then you can:
· Plan for employee growth by determining how long it take for a new hire to be break even and profitable
· Plan for revenue growth (headcount and average revenue by tenured rep)
· Focus on how to coach the process
· If someone is not hitting the formula, find the point of pain that is keeping them from moving forward.
· For those that are achieving (or exceeding) find the best practices that you can replicate across your organization.
The keys to understanding the sales numbers are available to all that want to BECOME THEIR VERY BEST. Take the time, devote the energy, and focus on the areas that will maximize your sales success...