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

Raise the Standards…..

For sales managers, everywhere
…not the Goals.
I know. It seems weird, right?
When I look at the top producing teams I work with, it starts with the top. Ownership has standards that need to be met and sustained to keep a place on the team.
One of my favorite clients, Sherry Sheely of Sheely’s in North Lima, OH – an award winning single store operation – has a simple standard to be on the sales team: Write $1,000,000. Every year. Period.
Standards
After that, there are character and competence standards, but the primary standard is met and sustained by everyone. Their turnover is minimal and performance is extraordinary.
Are your standards high enough? Is there operations support to maintain that standard? Take a look…and if you need assistance, let me know.
Now, go help your team to sell something.
oxo,
Jody
Jody Smiling Photo copy

Customers Don’t Know What They Want

For sales professionals, everywhere
Customers Don’t Know What They Want…
Really? Is that accurate?
I hear that a lot from salespeople who are not closing the sale or finding the right solution for the customer. If you think this, you will limit your engagement to find out what is driving the customers decision and what they want the solution to do. Couple Looking at Swatches With Saleswoman-33925616_XXXLarge.e796de60
What if customers really DO know what they want – they just don’t know what the solution will look like or what is available as a solution?  Align the expectation with where the customer is in their buying process: if they are early in the process, they may not know what they can do or what is out there for them….but they know what isn’t working NOW and what they would like in the FUTURE.
Be compassionate to where they are in their decision making process and ask more questions. Customers aren’t required to know the solution – that is the salesperson’s job to help with that. They came in the door…the rest is up to you.

Now, go sell something.
oxo,
Jody
Jody Smiling Photo copy