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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A Measure of Relationship Value

For everyone, everywhere

I once had a customer who was a bit of a maverick in his marketplace and in the industry. He has since passed away, but Chuck Forcey was a character. When he was in the military, he flew planes and was on an elite fighter team…and he brought his irreverent ways with him.

Fortunately, he had a commander who was tougher and more focused than Chuck was and while he respected and appreciated what Chuck brought to the team, he refused to let the team be defined by one of its members. To address a particularly aberrant behavior, the commander pulled Chuck aside and told him: “You are a valued member of this team…and you will have a place on this team as long as your contribution exceeds your aggravation…and not a moment longer.” I LOVE that measure of relationships … and don’t we all use something like that, even if it’s not as clearly stated? Think about it as you evaluate design project clients, hire new associates, work for rogue employers…and maybe closer to home, too.

A new thought for a new year.

Now, go sell something.

oxo,

Jody

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This Equals That

For Sales Managers, everywhere
I  love Sales Managers, especially selling sales managers. I love that they love to sell and engage with the customer and that they are interested in developing their team members for greater achievement.  managers810
You know that I believe the sketch is the Holy Grail for the salesperson and the customer. Those salespeople who sketch and take notes during the interaction and gather great data that they use in their sales presentation have a higher close ratio, higher average sale, and higher total sales revenue than those who do not sketch. Period. So as a high impact, ‘do this always!’ action, it does not have a parallel or substitute.
For sales managers, there is an equivalent: Interrupting the sales interaction to help the salesperson to CLOSE this customer. Those sales managers who understand that their job is to help their sales team members to close more opportunities do this consistently while on the floor. Interrupting/inserting into the interaction to help to close is the equivalent for the sales manager to what the sketch is for the salesperson. No kidding.
If it is not part of what you do now, start doing it.
I spoke of this in an earlier blog…Tim, the Sales Manager at The Amish Craftsman in Houston is a master at this. He introduces himself at the first interaction with everyone on the floor, then swings back around about 30 minutes later to check on selection, to ask if they are using financing for this purchase, and to double check that they are purchasing accident protection.
The result: Close ratio: 50%. Execution: Mastery.
Start practicing this and if you need help, call me.
Now, go help your salespeople to sell something.
oxo,
Jody
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