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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Leadership: Your Team Is a Reflection Of You

Team

For all leaders, everywhere

I recently had an impromptu conversation with one of my favorite leaders. She was talking, with frustration, about a couple of people on her leadership team who had not produced their most important deliverables for this time, this year.

As I listened intently, I asked myself – what is in the way of this happening? Where are the obstacles – tangible or intangible? I asked her if I could ask a couple of questions, which she agreed to – after a deep sigh. I asked if the actions/results that were expected were clear and understood – she said yes. I asked if there was an agreed upon deadline and milestones to achievement – she asked what I meant by that. I said, “Like a project manager, are there incremental deadlines/results that when achieved in a timeline, will likely produce the desired result by the agreed-upon deadline?” She said yes and no. I asked for more.

She said that there were but those milestones had not been met. I asked if she had on HER calendar a delivery date and time from that person. She said no. I asked why not? She said she didn’t think that had to happen, that she shouldn’t have to micromanage her leaders. I said I understand…and they have yet to produce the results….so this process to not micromanage your leaders is ineffective…would you agree? She said yes.

This is a very typical leadership conversation. Leaders who expect their reports to be able to deliver as agreed, and yet they are not delivering. AND they don’t want to have them believe that they don’t trust them, so they don’t put tighter timelines/actions in place and follow up immediately if that timeline has been missed – when evidence has shown that they need those the most.

Keep your team close until they demonstrate their ability to deliver with reliability and to a time frame. YOUR inability as a leader to hold them to their word and actions and timeframe says more about you than it does about them. Help them to win and to build the skills and structures to do that consistently before you let them loose.

Now, go help them to sell something.

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

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