HubSpot Sales Statistics…With Secret Sauce Added

Hi everyone….

In my next series of posts, I am going to be talking about a data set that HubSpot published in 2018 on Sales Enablement Statistics. These are great bits of information for salespeople and sales managers to know in order to impact the actions they take with prospects and with selling and coaching time. I intend to address all 20 of them over time and I welcome you to share how they impact YOUR actions with your team or with your prospects.

  1. 50% of sales time is wasted on poor prospectsHow are your salespeople prospectprioritizing their leads? Detailed marketing strategies help salespeople focus their energy and bring in leads that have potential—saving your reps time and effort.

For Salespeople: You MUST ask specific discovery questions that target the buyer’s process of decision making. Without that, you will chase rainbows and leave good leads by the wayside because of a personal perspective that you have about the prospect. You need to have questions (BADAS) to determine their position in the buying process that you ask EVERY prospect in order to know how you should engage now and what the outcome is that you are driving to.

For Sales Managers: You also need to be mindful in reviewing new leads acted upon to find out how much the salesperson learned about the prospect and what the next actions are and when they will occur. And begin to create a history of time: when met, first actions and determinations, discover questions asked, appointments set (and for what outcome?), quote – close. AND their overall close ratio. You might trace it all the way back to how the lead was originally managed.

Now, everyone go sell something.

oxo

Jody

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Managing a Sales Team

sales teamFor sales managers and sales leaders, everywhere           

Although my sales process “Sell it or Schedule it” is designed for salespeople, they are not completely responsible for executing it to mastery. The inclusion of their sales manager is critical to the implementation and ownership of this process.

I just finished a 90-day sales management coaching agreement with Sherry Kollar of Furniture Warehouse Design Gallery (FWDG) in Beaufort, South Carolina.  Our engagement was for HER training and coaching only…I never had contact with her sales team. She was a willing and engaged learner who was new to this position and had been a strong salesperson – selling HER way. She now had to have a sales manager perspective, an objective selling format, and a fundamental understanding of how to train and coach this team of individuals. We just finished her third month and her store made goal (which IS her goal) and every member of her team made goal.

The big take away is that she can tell you WHY and HOW that happened….so that she can now repeat it.

I believe that Sales Managers are the most pivotal role in the sales operation. They are often good salespeople who are elevated to a new role with little support or direction from leadership. They are often saddled with managing customer service issues (business that is already in the system) instead of focusing on driving new business. And they can make or break the success of the sales team.

If you have a sales manager on your team, are you giving them everything they need to succeed?

And if you ARE a sales manager, what are you doing to develop your skills so that your team wins and making goal is NOT an option?

 

If you need help with this, call me. 877-663-9663.

 

Now, go help someone to sell something.

oxo,

Jody

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High Impact Actions

For sales leaders, everywhere

Many retailers use statistics to measure performance and results, and there are some constants that all retailers measure: Traffic, close ratio, average sale.  All are measurable, all matter, and all have specific actions to increase them.

There are retailers who add another statistic – sales per guest/dollars per opportunity/performance index. Whatever you call it, they all measure the same thing: Total revenue divided by total traffic. It is a combination of close ratio and average sale. It indicates how much every opportunity is worth to each salesperson based on what they do with it, and how well the store is doing. Since it’s a number that measures more than one thing, I have often worked with retailers to lean one way and develop a strategy toward either improving close ratio OR average sale.

Recently, I was working on a seminar for Furniture Row and thinking about this statistic close ration einstein again, and asked myself “Are there actions that improve both close ratio and average sale that would definitely increase performance index?” And yes, there are three: Sketch the room, make appointments to close, use financing for purchases.

As sales leaders, you want to direct your teams to the actions that will get the highest impact AND, since you can’t watch and focus on everything, you and your team members need to reliably and consistently execute the actions that get the biggest return. These do that. Take a look at your team and YOUR actions to direct these three actions and dial up the visibility and accountability.

And if you need help with this, call me. 877-663-9663.

Now, go help your team to sell something.

oxo,

Jody

Jody Smiling Photo copy