I work in sales and have seen a new trend lately. With so many jobs being cut, companies are caught in a quandary: How to raise revenue after cutting sales and marketing staffs.
One way is to keep sales people, but on a commission/sales only role. For instance, a sales person has a base salary, insurance and HR cost to the company. The company depends upon the sales person to sell products and services which will cover those costs.. eventually.
However, some companies are cutting the employee and making them an agent or reseller. The company reduces their monthly fixed cost and the employee earns a higher commission (hopefully) for sales.
As a short term solution, this may work for both parties, but it will not work long term. As companies cut long time sales persons and teams, they are compelled to recruit new sales persons with higher and more demanding quotas. So available sales people, good ones, are constantly being recruited and headhunted. I know that is what I have seen in the market this month.
The agent model will probably continue for the time being. The monthly costs of employees is at the breaking point for too many companies.
Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts
Tuesday
Marketing Me! Tuesday marklets
Generally, short pithy posts are saved on blogs for Fridays. But with as busy as I have been lately, we are doing a Tuesday roll out.
LinkedIn Answers - Do you participate? Have you tried? I think Answers is a fine way to build your personal brand name. The more you answer, the higher your profile is ranked and exposed to your fellow LinkedIn'ers.
Another thing I have noticed on your LinkedIn home page the "Who has viewed my profile?" feature? I mentioned this last year as a "want" for my LinkedIn list. This feature, albeit much richer, is available on MyBlogLog and seems like an afterthought for LinkedIn.
But the profile view is a fun tool. Couple of things: I wish we could add photos to LinkedIn (can we? Paging LinkedIn expert Jason Alba at Jibber Jobber). It would also be nice if we could add more than three links to our profile or Answers.
Finally, LinkedIn overkill, do you tag your LI profile with del.icio.us? You should. And StumbleUpon as well.
Speaking of StumbleUpon, do you use it? If so, wouldn't it be nice if SU showed the popularity of channels. I bet Wiccan is not as popular as Business, but we wouldn't know would we? The reason I ask is when I submit my personal brand sites, I would like to know the best channels and keywords to optimize.
I set up a profile on FastPitch but have yet to update it. Besides the emails, what are your thoughts on this service? Is it as good as they say?
Article marketing (submitting self authored articles to directories and web sites for personal brand recognition) is one of my favorite guerrilla methods to Market Me.
Digg is always listed as one of the top submission sites, but take a look at the home page for Digg. Nearly everything is OS, Linux, Mac, IT or politics related. Even the submission channels are limited.
Want to get on the first page of Digg? Submit an article lambasting George Bush for cheating AdSense with a hacked Windows server. Betcha that will put you up front.
My but I had some interesting feedback about the 3 Hour Parent yesterday. If only people would comment instead of emailing. How about some comments on this stuff?
Let's get out and kick it today. Let's bring in that big sale, arrange that meeting or finish that project today. I don't know why it seems urgent today, but the clock is ticking and I want to take it up a notch.
Happy hunting!
LinkedIn Answers - Do you participate? Have you tried? I think Answers is a fine way to build your personal brand name. The more you answer, the higher your profile is ranked and exposed to your fellow LinkedIn'ers.
Another thing I have noticed on your LinkedIn home page the "Who has viewed my profile?" feature? I mentioned this last year as a "want" for my LinkedIn list. This feature, albeit much richer, is available on MyBlogLog and seems like an afterthought for LinkedIn.
But the profile view is a fun tool. Couple of things: I wish we could add photos to LinkedIn (can we? Paging LinkedIn expert Jason Alba at Jibber Jobber). It would also be nice if we could add more than three links to our profile or Answers.
Finally, LinkedIn overkill, do you tag your LI profile with del.icio.us? You should. And StumbleUpon as well.
Speaking of StumbleUpon, do you use it? If so, wouldn't it be nice if SU showed the popularity of channels. I bet Wiccan is not as popular as Business, but we wouldn't know would we? The reason I ask is when I submit my personal brand sites, I would like to know the best channels and keywords to optimize.
I set up a profile on FastPitch but have yet to update it. Besides the emails, what are your thoughts on this service? Is it as good as they say?
Article marketing (submitting self authored articles to directories and web sites for personal brand recognition) is one of my favorite guerrilla methods to Market Me.
Digg is always listed as one of the top submission sites, but take a look at the home page for Digg. Nearly everything is OS, Linux, Mac, IT or politics related. Even the submission channels are limited.
Want to get on the first page of Digg? Submit an article lambasting George Bush for cheating AdSense with a hacked Windows server. Betcha that will put you up front.
My but I had some interesting feedback about the 3 Hour Parent yesterday. If only people would comment instead of emailing. How about some comments on this stuff?
Let's get out and kick it today. Let's bring in that big sale, arrange that meeting or finish that project today. I don't know why it seems urgent today, but the clock is ticking and I want to take it up a notch.
Happy hunting!
Friday
Marketing Me! Sales - Final Quarter!
September marks for some, the last month of the third quarter (Q3) for 2007.
That meas the mad dash to close the final business of the quarter is here!
If you are in sales, where are you for your numbers? I hope you are right on target to meet your personal goals and professional quotas.
If not, here are some quick sales tips to help you close some last minute business. Remember, you still have a couple of weeks left in the quarter!
The Golden Rule of Sales - It is easier to sell to existing customers than to find new ones.
Concentrate on your existing pipeline!
Getting started...
1) How much more did you want to sell this quarter?
Let's say you wanted an additional $100,000.00 in sales this quarter. You have checked your pipeline and there simply is not a single opportunity which will help you make this number.
Consider adding together three or four opportunities to reach your target. It may take seven or eight smaller customers, but the number can be reached if it is broken up.
Which leads us to...
2) What is the current state of your pipeline?
Do you have any customers who consistently order $5000.00 to 20,000.00 at a time yet who are not in this quarter's forecast?
When was the last time they placed an order?
Now is the time to get on the phone to these prospects and line up an unplanned sale for the quarter. That customer who has placed $25,000.00 and 50,000.00 orders might need an additional, but smaller order now. If you can find three or four of these customers, you will be that much closer to your goal!
3) Check your channels; partners, distributors, and resellers.
Where do they stand? Do they have any opportunities which have not closed?
Do they need your help with the final call?
Have your channels optimized any and all leads and prospects sent their way?
Have these team members come in for the final big push and bring some business over the line.
4) How about inventory?
Is there any excess inventory? What about closeouts or end-of-life products?
Get with your company CFO and Operations people and find out what your can clear off the shelves.
These types of sales are generally high-margin or can be sold at a discount.
Remember: Your customers are just like you. Everyone loves a bargain!
5) What about those new prospects?
Sure, they may not be placing production sized orders, but they may be ready to put in that demo or pilot order.
Yes these orders may be small, but it might be the few small ones which push you over your number.
Notice!!!
Before you start with point 1, do the following:
Check your attitude at the door - Anger, depression or bitterness have no place in sales.
Deal with the facts - Summer is traditionally a slow time and credit has been tight in some markets. This may be why you are below your number. Accept it and move on.
You cannot build a pipeline in the last month of the quarter - Pipelines are built over time through careful prospecting and networking. "Last minute, gotta have it, just walked in the door, Big Sales customers" are the stuff of sales legend and myth.
If you sold anything this quarter, 'you done good'. If you sell more, 'you done better'.
Most of all, start building for the fourth quarter which I have always said is a tougher quarter because of the holidays and shorter work time.
Hang in there! Happy hunting!
That meas the mad dash to close the final business of the quarter is here!
If you are in sales, where are you for your numbers? I hope you are right on target to meet your personal goals and professional quotas.
If not, here are some quick sales tips to help you close some last minute business. Remember, you still have a couple of weeks left in the quarter!
The Golden Rule of Sales - It is easier to sell to existing customers than to find new ones.
Concentrate on your existing pipeline!
Getting started...
1) How much more did you want to sell this quarter?
Let's say you wanted an additional $100,000.00 in sales this quarter. You have checked your pipeline and there simply is not a single opportunity which will help you make this number.
Consider adding together three or four opportunities to reach your target. It may take seven or eight smaller customers, but the number can be reached if it is broken up.
Which leads us to...
2) What is the current state of your pipeline?
Do you have any customers who consistently order $5000.00 to 20,000.00 at a time yet who are not in this quarter's forecast?
When was the last time they placed an order?
Now is the time to get on the phone to these prospects and line up an unplanned sale for the quarter. That customer who has placed $25,000.00 and 50,000.00 orders might need an additional, but smaller order now. If you can find three or four of these customers, you will be that much closer to your goal!
3) Check your channels; partners, distributors, and resellers.
Where do they stand? Do they have any opportunities which have not closed?
Do they need your help with the final call?
Have your channels optimized any and all leads and prospects sent their way?
Have these team members come in for the final big push and bring some business over the line.
4) How about inventory?
Is there any excess inventory? What about closeouts or end-of-life products?
Get with your company CFO and Operations people and find out what your can clear off the shelves.
These types of sales are generally high-margin or can be sold at a discount.
Remember: Your customers are just like you. Everyone loves a bargain!
5) What about those new prospects?
Sure, they may not be placing production sized orders, but they may be ready to put in that demo or pilot order.
Yes these orders may be small, but it might be the few small ones which push you over your number.
Notice!!!
Before you start with point 1, do the following:
Check your attitude at the door - Anger, depression or bitterness have no place in sales.
Deal with the facts - Summer is traditionally a slow time and credit has been tight in some markets. This may be why you are below your number. Accept it and move on.
You cannot build a pipeline in the last month of the quarter - Pipelines are built over time through careful prospecting and networking. "Last minute, gotta have it, just walked in the door, Big Sales customers" are the stuff of sales legend and myth.
If you sold anything this quarter, 'you done good'. If you sell more, 'you done better'.
Most of all, start building for the fourth quarter which I have always said is a tougher quarter because of the holidays and shorter work time.
Hang in there! Happy hunting!
Thursday
Marketing Me! August was tough!
August was a tough month all the way around.
It started with a bouncy, topsey-turvy stock market.
Then rolled into the wonderful news about the sub-prime housing market.
Then comes the credit/cash crunch. Some businesses lamented that there wasn't a dollar to be found on the street.
And all of this happens in what is traditionally the deadest month of the year for business, not only in the U.S., but worldwide, August.
Could not have happened to a nicer month!
Somehow, someone forgot to mention that little fact. August is "roll up the streets" time in Europe and other parts of the world.
In the States, many take their final vacation of the summer.
For families, work comes second to back to school and the related activities.
Finally, the whole thing ends with ironically and aptly with Labor Day - in other words, "Get back to work day!".
Last week, I heard my final "I am out of the office" voice mail and instead started off with the phone ringing off the hook. Today was no different and I found myself at the office an extra hour this evening just answering calls.
I fully expect next week to be more of the same and so it will continue through the end of October as businesses close out their fiscal year.
November will bring in some additional business and the 2007 business year will come to a grinding halt around the second week of December (for some, not all. I make some great, end-of-year, Yule deals in the final two weeks of the year!).
2008 will be another thing, what with the fallout from the sub-prime market and a presidential election. But that is next year, we only care about what we are going to do tomorrow, right?
I don't know where you stand today or tomorrow. But try not to let August and the summer doldrums get you down. Tomorrow is another day and don't forget, it is Friday!
Until then, happy hunting!
It started with a bouncy, topsey-turvy stock market.
Then rolled into the wonderful news about the sub-prime housing market.
Then comes the credit/cash crunch. Some businesses lamented that there wasn't a dollar to be found on the street.
And all of this happens in what is traditionally the deadest month of the year for business, not only in the U.S., but worldwide, August.
Could not have happened to a nicer month!
Somehow, someone forgot to mention that little fact. August is "roll up the streets" time in Europe and other parts of the world.
In the States, many take their final vacation of the summer.
For families, work comes second to back to school and the related activities.
Finally, the whole thing ends with ironically and aptly with Labor Day - in other words, "Get back to work day!".
Last week, I heard my final "I am out of the office" voice mail and instead started off with the phone ringing off the hook. Today was no different and I found myself at the office an extra hour this evening just answering calls.
I fully expect next week to be more of the same and so it will continue through the end of October as businesses close out their fiscal year.
November will bring in some additional business and the 2007 business year will come to a grinding halt around the second week of December (for some, not all. I make some great, end-of-year, Yule deals in the final two weeks of the year!).
2008 will be another thing, what with the fallout from the sub-prime market and a presidential election. But that is next year, we only care about what we are going to do tomorrow, right?
I don't know where you stand today or tomorrow. But try not to let August and the summer doldrums get you down. Tomorrow is another day and don't forget, it is Friday!
Until then, happy hunting!
Marketing Me! How to make sales
You are sales professional for a company with a real product (no vaporware reps, please).
You want to make money from commissions or compensation based upon sales.
Now that we have that established, I am going to tell you a few hints for making sales in today's consultive selling environment.
First, what I won't tell you is:
- how to get leads.
- how to make contacts, network or get referrals.
- how to market yourself for lots of inbound traffic (you should know that already by regularly reading Marketing Me!).
Now, how to make sales.
Love your product - sell it everywhere you go. Explain to anyone you meet (on plane, at events, picking up your kids at school, etc) what your products or services do and why you love what you do. This is practice which with repeated performances will make it easy when meeting real economic decision makers.
Talk and listen to your customers - Quit wasting time talking to the other sales folks, your secretary or friends. When working, talk with customers. Even if they have no intention of buying anything today, your customers and prospects will buy from you when they are ready IF you have invested hours getting to know them and understanding their needs.
Ask for sales - 99% of all sales fail because this simple rule is not followed by so-called sales professionals. Training, classes, consultive selling approaches and second guessing have decreased close rates for sales professionals. Practice asking for the sale. If you followed the second step and understand your customers and prospects, you will have no problem getting business when you ask for it.
Sell again - After the agreement is in place, thank youf customer and reassure them of their purchase. Do this frequently. Call (better yet, visit) your customer regularly and let them know the status of their order and when they can expect delivery. Let them know about upgrades, enhancements, new products and endorsements your product has received. Let their decision be validated repeatedly.
Sales is not hard. Closing is hard if you are not prepared. But sales is easy. Follow the steps above and make more sales every quarter.
Q2 is almost over. I hope you made your numbers. If so, congratulations. If not, go try harder next quarter.
You want to make money from commissions or compensation based upon sales.
Now that we have that established, I am going to tell you a few hints for making sales in today's consultive selling environment.
First, what I won't tell you is:
- how to get leads.
- how to make contacts, network or get referrals.
- how to market yourself for lots of inbound traffic (you should know that already by regularly reading Marketing Me!).
Now, how to make sales.
Love your product - sell it everywhere you go. Explain to anyone you meet (on plane, at events, picking up your kids at school, etc) what your products or services do and why you love what you do. This is practice which with repeated performances will make it easy when meeting real economic decision makers.
Talk and listen to your customers - Quit wasting time talking to the other sales folks, your secretary or friends. When working, talk with customers. Even if they have no intention of buying anything today, your customers and prospects will buy from you when they are ready IF you have invested hours getting to know them and understanding their needs.
Ask for sales - 99% of all sales fail because this simple rule is not followed by so-called sales professionals. Training, classes, consultive selling approaches and second guessing have decreased close rates for sales professionals. Practice asking for the sale. If you followed the second step and understand your customers and prospects, you will have no problem getting business when you ask for it.
Sell again - After the agreement is in place, thank youf customer and reassure them of their purchase. Do this frequently. Call (better yet, visit) your customer regularly and let them know the status of their order and when they can expect delivery. Let them know about upgrades, enhancements, new products and endorsements your product has received. Let their decision be validated repeatedly.
Sales is not hard. Closing is hard if you are not prepared. But sales is easy. Follow the steps above and make more sales every quarter.
Q2 is almost over. I hope you made your numbers. If so, congratulations. If not, go try harder next quarter.
Friday
Vacation
Just returned from somewhat of a vacation.
Despite my best efforts, I spent more than half of my time working rather than resting, relaxing and spending time with my family.
I set up an autoresponder on my work email "I am out of the office until March 1. I will respond to email when I return or as time allows".
I changed my voice mail greeting "I am out of the office until March 1. I will not be checking messages during this time, but will do so and return your call by March 2".
Neither was effective. My customers called my cellular frequently. And being trained as a modern twenty first century person that I am, I picked up each call without hesitation. After all, that is why we are connected, right?
Wrong. All in all, out of four days of non-drive time vacation, I spent about one and half days working. My bad and my fault.
My wife and kids had a swell time, but they missed me and I missed out.
I will not do that again.
I still have this weekend left, but I know how much work I have to catch up on. So we will see how that goes.
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