Posts Tagged ‘CEO’

Ever wonder what the heck your salespeople are doing all day long?

Sunday, November 21st, 2010

Questioning your sales teamFirst off, this is not a rant about insecurity or paranoia.  Rather, I’m sad to say that many sales people will take advantage of you and your business as long as you allow them to do so.

Keep in mind… simply using the 80/20 rule you can probably figure that 80% of your most profitable sales revenue comes from 20% of your sales team.  And if that’s the case, you probably wish you could change and improve that figure.

But, if you’re like most small or mid-size business owners, you’re probably wondering what the heck your sales people are doing all day long.  You don’t want to be a babysitter.  You don’t want to spend your time going through call reports and updates.  And your sales people don’t want to spend their time creating them.

Yet you probably spend a lot of time scratching your head wondering why the guy or gal that looks busiest sells the least.  And when you ask them to do things that should help them improve their sales, do they say they are too busy?

So what’s up with all the “activity” with weak results?

Well, I hate to break it to ‘ya but most of the (seemingly) super-busy salespeople that accompany low sales are simply NOT busy.  They are either fakin’ it or they truly think they are busy but they are spending tons of time doing things that don’t result in sales.  I recently spoke to a salesman who was proud to show me all the appointments he had set for just one day.  Six!  Wow!  And he planned to drive back and forth…  here and there…  all over town to see all these people.  But he had no focus.  None of the prospects were truly vetted and none were qualified.  He had no plan.  And they had no pain.

Sorry folks.  Driving is not selling!

So here are 3 ways to give yourself a completely transparent view of your sales force:

1- Give them cell phones with GPS tracking- I know… it’s “big brother”.  But I’ll bet you a million dollars that a good number (sadly) of your sales force is working a lot less hours than you thought and even spending time at bars or health clubs. NOTE: I only recommend this for sub-par producers.  Otherwise you’ll drive away your good talent.
2- Make them input their activities into a CRM system- If you don’t have a CRM for data, get one YESTERDAY!  Then make sure your team enters all their leads, prospects, accounts, contacts, and opportunities into it using tags.  These systems are very inexpensive and they pay for themselves since they help you manage your sales team with crystal clear accuracy as long as you make your sales team input the data.
3- Sit where they sit and ride where they ride- I like to have my sales people right nearby.  I like to hear what they are saying.  I like them to know that I am accessible to them to help move a prospect further down the funnel or to close a deal.  What’s more important than sales?  Oh yeah… cash flow is pretty important.  But I digress.  If you can’t sit near them and ride with them, then you should spend as much time with them as possible.  That’s the only way to truly know what’s going on.

And if all else fails, just look at the numbers.  Numbers don’t lie.  Get rid of sales people who can’t hit their numbers.  Don’t get dragged down by emotion.  That’s not being fair to your business.   And the rest of your staff- the ones who are truly working hard- know who the slackers are and they’ll only think less of you if you don’t get rid of the salespeople who are taking you for a ride.

4 ways CEO’s could use LinkedIN for results.

Monday, September 13th, 2010

We all know we’re supposed to be “on” LinkedIN.  But how can we make the most of it?

Here are some tips:

1- Use it to find top-notch employees. Remember, the best people aren’t necessarily looking for a new position.  And referrals are your best source for good people.  So, tap into your network.  Let them know you are looking for help.  Here’s how:

  • Send individual “in-mails” or post an update that announces the type of person you are looking for.
  • Post a job opening.  Go to the “Jobs” dropdown menu and follow the steps.
  • Review potential employees’ profiles online.
  • Check their references.  Do they have any?  Were they recommended by anyone on LinkedIN?
  • Run reference checks easily by searching for people who have worked at their previous companies.  Then contact them.

2- Help your team. If you have a great network, you can use it to help your team.  Suppose one of your salespeople is calling on a new prospect. She searches for the company on LinkedIn and sees that one of your connections knows the VP of purchasing. She can leverage the trust of that connection to build her relationship with the customer. Or ask you to help with an “introduction”.

3- Manage your time. You’ll get asked to connect with lots of people.  Many will be unknown to you.  Some may want to pitch a service to you while others may want you to speak at an event.  How do you know if that person or group is relevant to your needs and legitimate?  Before you connect you need to make sure they are a good fit for you and your network so they don’t waste your time.  LinkedIn makes it easy to check them out. You can easily search around to see who you know in common.  And you can ask your trusted connections if the person or group is for real.

4- Find smart answers from smart people fast. You can find an expert and have your questions answered easily on just about any topic under the sun.  Just go to the tab that says “More” and click on “Answers”.  Once there, search for answers to your question first.  Then, and only then… if you can’t find the answer you are looking for, go ahead and post a “Question”.  I recommend searching for the answer first because many questions have already been answered and you’ll be muddying the waters if you ask the same question that 30 other people have already asked.  It’s “LinkedIN etiquette” to search for an answer before you ask a question.

Obviously I’m a big fan of LinkedIN.  There’s a lot more you can do with it.  But these tips will get you started.

The 80/20 rule!!!

Friday, April 23rd, 2010

I can’t tell you how many times I see people, sales people, marketers and companies forget about the 80/20 rule.  Could it be that they never heard of it?  Come on everyone!  It’s the 80/20 rule!  It’s the best and easiest way to generate more, good, profitable business FAST.

First a history lesson.  The 80/20 rule was really called the Pareto Principle.  In 1906 Pareto figured out that 80% of the land in Italy was owned by 20% of the people.  And the concept quickly caught on as a general rule of thumb for business.

Recently MarketSmart was tasked with figuring out how to jumpstart sales for one of our newest clients.  Of course, they wanted sales fast.  …Before we even had a chance to write their comprehensive marketing and sales strategy.

So what did we recommend?  Go with the 80/20 rule!

We just got their data this morning and sure enough $3.7 Million dollars out of $4.65 Million was generated by 20% of their clients.  Go figure!  So we wrote a quick sales plan for them to focus on those clients immediately.  “Go to the well!” we told them.

The rest of the plan (which I wrote this morning) emphasized the following:

  1. Focus on the 20% who deliver 80% of your business (I call these people and clients “superstars”)
  2. THEN look at the next rung (“the players”) to see if you can move any of them up to superstar status
  3. Next look at “bench warmers” and customers who disengaged for one reason or another
  4. And finally, generate new leads

This strategy and plan should help you get focused quick too.  Happy selling!!

Two things every CEO needs to know about marketing for the next decade.

Wednesday, March 17th, 2010

Two of the keys to marketing in the next decade are simple.  Get found.  And help people when they find you.

Get found.

These days, the first thing people do when they want to learn about something… anything… is they search for it online.  Young and old alike now search.  So pretend you are your customer/client.  Go to your search bar and type in whatever they would type to find your product or service.  Are you there at the top of the list?  On the first page?  Can they find you easily?  Or are they finding your competitors?  Hmm.

Disagree?

You may say that your business doesn’t work like that.  Ok.  So suppose your sales team does a great job.  The cold calls were made.  The meetings are over.  The proposals were submitted.  At some point the decision maker or a team in a board room will decide to look-up your company online.  First they can’t find you.  So they type in your web address and YUCK! … your site is slow, looks bad, is clumsy to navigate and offers nothing helpful.  It’s all about you, not them.

Help people.

Once they find you, your site needs to be helpful.  If your website is basically an online sales brochure, you probably aren’t helping anyone.  And if you don’t help people, they’ll bounce to your competition.  Fast.

Most websites need to be completely re-thunk.  Smarter.  Make it easy for people to find you by implementing search engine optimization and online marketing strategies.  Then, be truly helpful once they arrive at your site.

Keep your eye on those two things and you’ll at least have the basis for a sound internet strategy going into the next decade.

Happy New Year!

Think smart. Work smart. MarketSmart.

Wednesday, March 17th, 2010

What’s the difference? Introducing MarketSmart.

Everyone knows it’s better to work smarter; not harder.  But working smarter requires sound strategyThought.  And time to concentrate on what really makes our businesses tick.

You can’t just wake up one day and say “Yes!  Today I will work smart!  Not hard!”

It doesn’t work that way.  By the time most of us get to our desks each morning, we’ve already got a half dozen emails to respond to, our schedule’s been rearranged, and several staff members are already looking for answers to questions.

Yet we know we’ve got to concentrate on marketing and sales.  But half the emails we get are complaints from the sales team about the marketing department.  And the other half are excuses from the marketing department and complaints about the sales team.

Sales says, “these leads stink!”  And marketing says, “we need new salespeople… this crew can’t close a zip-lock bag!”

And that’s where MarketSmart comes in.

We like to noodle marketing AND sales.  I (Greg Warner- Founder and CEO of MarketSmart) have made over 30,000 cold calls.  I’ve been rejected more times than I’d like to admit.  But I’ve also closed more deals in a year than some salespeople close in a lifetime.  I understand sales.  And I like to write about it. Also, I understand marketing.  And I like to write about that too.

Most marketers don’t know anything about sales and visa-versa.

So this blog is about how the two need to work together.  It’s about being smart.  And trying to be smarter each day.  It’s about thinking.  It’s about strategy.

And most of all it’s about making the needle go up!  Increasing ROI.  And delivering results.

I hope you like what we have to say here.  And I hope you’ll tell us when you disagree.

We try to be smart but we realize no one is “the smartest”.  So let us know your thoughts.  Let’s think smart and work smart together!