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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Customer Service Cancellations

 

For everyone, everywhere
As you might be doing at the start of the new year, I am scouring my expenses looking at what is nice versus necessary and can be cut. As an avid reader, my news subscriptions paper-business-finance-document-previewstarted to add up and I considered how much I read of each publication and I decided to cancel my digital subscriptions to both The Wall Street Journal and The Washington Post. The latter could be done via their website and it was a simple process to execute, followed by a confirming email from them within minutes asking why I was leaving – which I answered, and another email within 24 hours, saying they were sorry to see me go.
The former made the cancellation process more difficult for me, the customer. In order to cancel WSJ, I had to call a phone number and speak to someone who wanted to know why I was leaving. I said I didn’t read the publication enough to warrant a subscription. He asked “What does enough mean?” to which I responded, “Hardly ever”. He then asked if he cut the subscription cost in half, would it approximate how much I read it? I said yes, and he said, “Let’s do that then”. He proceeded to cancel my most recent payment and to start another subscription at 50% of what I was paying.
What a difference. At first, I was bugged by WSJ who didn’t make it easy for me to take action…but the experience was not problematic. And, while they lost 50% revenue, they kept a customer…something that the Post didn’t do.
It raises the question…where are you losing customers with a policy that intends the best but may not deliver it?
Now, go sell something.
oxo,
Jody
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