Blog

Blog

What's Wrong with Sales Quotas

Posted by Bill Hart on Jul 11, 2018 4:36:40 PM

Between 2010 and 2013, the greatest emphasis of sales force change was in the area of compensation and quota setting.  That’s according to Mark Donnolo, founder of The SalesGlobe, a sales consulting group in Atlanta.  During those two years, in over 100 large companies that participated in his research, almost every vice president of sales was focused on addressing the issues of compensation and quota setting for the next year.

Quotas and compensation plans are great drivers of change.  A good compensation plan can change the behavior of an entire sales force.  But in most cases, compensation plans and the quotas on which they are based are designed with one purpose in mind - to make the supplier/vendor more profitable. 

As I wrote in my last post, Zig Ziglar famously said that if you help enough other people get what they want, you will get what you want.  If you help the customer meet his or her needs, you have a much better chance of having your own needs met.  Therefore, making your customer’s bottom line your goal is the key to closing sales.

That leads us to the problem with many sales quotas:  they’re set for the wrong reasons by the wrong people

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Topics: sales process, sales training, executive sales training, sales strategy, forecasting

Dealing With Challenging Buyers: The Antagonist and the Power Broker

Posted by Bill Hart on Feb 14, 2018 11:27:12 PM

Buyers.jpg

In this post, we discussed how to identify the different types of buyers in a complex sale, and how to use the questions they ask to pinpoint what their buying concerns are.  Understanding each type of buyer’s decision criteria is key to winning the business.  

This can be challenging, even if everyone involved is a relatively easy-going person.  But sometimes, there are personality factors that can make this process a bit more complicated.  That’s what happens when one of your buyers is a power broker or an antagonist

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Topics: sales process, Sales, sales strategy

Success Stories: What Happens When People Go Whole Brain

Posted by Bill Hart on Jan 24, 2018 11:14:07 AM

In my last post, I discussed the communication problems that arise when a person who thinks one way speaks to a listener who thinks in a completely different way.  The person doing the talking is presenting the kind of information that is important to him, but he doesn’t get his message across because what’s important to his listener is something entirely different.

I also talked about how incorporating Whole Brain® Thinking into your sales process helps you identify how your prospects think so you can present the information your prospects need to hear to say, “I’ll buy!”  Now, I’d like to share some examples of how people and companies I know have used this information to increase sales, repair dysfunctional teams, and improve (or even save) personal relationships.

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Topics: sales process, whole brain thinking, Sales

Connecting With Customers Who Are Hard To Connect With

Posted by Bill Hart on Jan 17, 2018 8:42:49 PM

broken connection.jpg

Have you ever been discussing an idea or explaining something to someone, and – no matter how eloquent you were – had the feeling that you weren’t being understood? 

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Topics: sales process, whole brain thinking, Sales

Dealing With Different Buyers in a Complex Sale

Posted by Bill Hart on Dec 14, 2017 4:56:50 AM

Complex sales where there are numerous decision-makers can be difficult to navigate.  Closing such a deal requires an understanding of the different types of buyers, what their concerns are, and what influences their desires.  It also requires the ability to anticipate, identify, and address the factors each individual cares about.

There are three players in a complex sale: influencer/user, technical, and financial buyer.  In smaller companies, one person can serve in all three roles, but with larger organizations, there are typically two or three people fulfilling them.  

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Topics: sales process, Sales, sales strategy

How to Deal With a Deal-Killer: RISK

Posted by Bill Hart on Nov 15, 2017 7:06:44 PM

After you’ve completed your sales presentation or product demo, the buyer enters the evaluation phase of the buying process, and a scary monster frequently rears its ugly head: risk.  Risk can kill a deal, and its threat can increase as your prospect evaluates your offering.

What is the opportunity cost of going with this solution or vendor?
What will happen if I commit and spend this money?
Will I truly get the value I need?
What if I’m missing something?

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Topics: sales process, Sales, sales strategy

What To Do When You're Asked To Lower Your Price

Posted by Bill Hart on Oct 26, 2017 3:40:46 AM

You’ve just made a great sales presentation for a great prospect.  The whole sales process has gone smoothly from the beginning.  You like your buyers, and they like you and your offering.  They definitely want to do business with you!  If only you can agree on a price.

It’s easy and natural to get a little discouraged when a buyer asks you to lower your fee.  But don’t assume they’ve applied the brakes just yet.  Price is only 18% of the buying decision.  The competence of the sales rep, however, is 39% of the buying decision.  You may feel uncomfortable, but your customer has just offered you an excellent opportunity to demonstrate a high degree of competence by handling his request correctly.

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Topics: sales process, Sales, sales strategy

Why Cold Calling Is Dead

Posted by Bill Hart on Oct 12, 2017 5:38:45 AM

The Internet.  That – in one word – is why cold calling is dead, even for B2B sales. 

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Topics: sales process, Sales, sales strategy

The 2 forces that drive buying decisions - Part 2

Posted by Bill Hart on Jul 12, 2017 5:31:31 PM

If the rear wheel of your customer’s bike is the driving force, or the business reasons, behind why your customer buys (as we discussed in Part 1), then the front wheel is the one that determines the direction in which he will go – whether he buys from you or from someone else.  Here, personal motives are the deciding factor.

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Topics: sales process, Sales, sales strategy

The 2 forces that drive buying decisions

Posted by Bill Hart on Jun 28, 2017 5:05:54 AM

There are two forces that drive a customer’s buying decision: business reasons and personal motives. A successful sale depends on your ability to accurately identify the reason your customer has for buying and what he’s looking for in a vendor. If you fall short in either area, you are likely to lose the sale.

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Topics: sales process, Sales, sales strategy