| "body"> | | | | back in there. Work a deal. Get the relationship |
| At the forefront of driving revenue is the sales | | | | back on track. |
| team; however everyone, from the receptionist | | | | # 12 Commit to Become the Sole Source for |
| to the CEO, is vital for accelerated revenue | | | | Your Key Customers: Just the commitment to |
| success. No matter what position you hold in your | | | | your key customers would provide you huge |
| company you can use the many low-to-no cost | | | | returns. As you make this commitment to |
| strategies in this article to accelerate revenue. | | | | yourself, your boss, and your customer, impress |
| # 1 Set Your Goals and Objectives: Members of | | | | upon everyone that you will do this by adding |
| the sales team usually have a quota assigned to | | | | value to everything you do. |
| them by management. If you are not part of the | | | | Making this commitment will force you to look at |
| sales team you probably do not have a direct | | | | all aspects of your customer's business and |
| quota, however the more value you add to the | | | | understand where you, through your products |
| revenue driving activities of your company, the | | | | services and other capabilities, can enable your |
| more valuable you are to the company. If you | | | | customer to increase revenue and/or decrease |
| are not part of sales, make a commitment, even | | | | cost. Focusing on your customer's business and |
| if you don't tell anyone about it, to do what ever | | | | how you can increase revenue and decrease cost |
| you can to drive revenue up and to costs down. | | | | will not only help you grow revenue, but also |
| Make sure that you hold yourself accountable. I | | | | increase your gross margin on every deal. If you |
| have found that one key de-motivator, including | | | | stay committed and honest, this process will be |
| self de-motivation, is an imbalance of | | | | the springboard for a very long and very |
| accountability - even if it is perceived and not real. | | | | profitable relationship for you and your customer. |
| This imbalance is caused when your actions are | | | | # 13 Determine What Your Customers WILL |
| not inline with your goals and objectives. Manage | | | | Want: Don't just look for what you customers |
| yourself and your activity consistently and you will | | | | want right now. Figure out what their needs will |
| see the results in your top line. | | | | be in the future. Key note: Your customer |
| # 2 Know Where You Are Now: Before you start | | | | probably does not know what she needs now. |
| any journey you need a map, a plan in the case | | | | She knows what she wants, but not what she |
| of your accelerated revenue driving activities. | | | | needs. As well, she probably won't know what |
| Before this journey begins it is important to know | | | | she will need in the future. It should be your |
| where you are going (discussed in the previous | | | | mission in your professional life to know the |
| section) and where you are now. Here are some | | | | future needs of your customers. - Be ahead of |
| questions to ask yourself: | | | | your customers and you will be ahead of the |
| - Where are you against your goals? | | | | pack. |
| - Where is your company against its goals? | | | | # 14 Take Your Executive Team Out on Sales |
| - Are your goals inline with your company's? | | | | Calls: The CEO of any size company is usually the |
| # 3 Know Your Value: Take an inventory of | | | | best sales person. If you think that he is not a |
| yourself. Understand what you do well, what you | | | | sales person, you are wrong - dead wrong. How |
| do OK, and what you don't do well at all. Then | | | | did he get funding? How did he hire his first staff |
| leverage what you do well and improve on what | | | | member? How does your CEO get the |
| you do OK and not well at all. Constantly, review | | | | management team to get what he needs done, |
| your progress and keep adding new skills to your | | | | done? He sold them, he sold them all. |
| training regimen. | | | | Your CEO owns the vision, in most cases it is HIS |
| # 4 Know Your Company's Value: Look at your | | | | vision! Who else can best sell his own vision? |
| company. What does your company do very | | | | I do not recommend you take the CEO out on |
| well? What is the value of that product/service? | | | | the first, second, or third call. Look at your sales |
| Value from your customer's perspective - not | | | | pipeline, take the proposal that is the largest in |
| yours. How does this product/service increase | | | | revenue, or is the most profitable, or you know |
| revenue or decrease cost for your customer? | | | | the most about the customer/buyer. Set up a |
| (Not how can you offer the product/service | | | | face-to-face meeting. This meeting should be with |
| cheaper than your competition.) Or does it | | | | someone on your customer's senior executive |
| increase efficiency or reduce risk (subset of | | | | team only, preferably with the CEO. |
| reduced cost). Again, for your customer, not you. | | | | Go and get the order. This process affords you |
| Focus most of your energy on leveraging those | | | | the opportunity to: 1) get to know your executive |
| things your company does extremely well. | | | | team, 2) get to know the customer in a new |
| Especially, those products/services that add the | | | | light, 3) understand the issues in closing business |
| most value to your customer. This is probably | | | | today, and 4) gain confidence in what you, and |
| where you can increase revenue the most. | | | | your company is doing, or needs to do. Worst |
| # 5 Increase Key Lead Generation Activities: | | | | case, you are educating the executive on the |
| - Write newsletters for existing and potential | | | | sales team and sales process. |
| customers; | | | | # 15 Advertise your success (internally to your |
| - Provide Free, or Low Initial Buy-in, offers to | | | | organization at first, externally if you feel it is |
| drive paid product/service business; | | | | appropriate). |
| - Write white papers; | | | | # 16 Reduce Time Spent on Non-Customer |
| - Develop positioning papers; | | | | Meetings: Unless absolutely necessary and even |
| - Conduct short, value focused, seminars on how | | | | then, when you can, stop all, or reduce the |
| you help your clients increase revenue and | | | | amount of, time spent on internal meetings. If the |
| decrease cost | | | | meetings MUST happen then make them outside |
| # 6 Automate all Sales Reporting: Use my simple | | | | customer's business hours. Every minute that you |
| and short three step process to develop your | | | | are in an internal meeting, you are not in front of, |
| sales reporting system. Here it is: | | | | or on the phone with, or supporting the needs of, |
| 1) Define Sales Reporting Needs: be focused on | | | | a customer, prospect, or suspect. |
| the deal and on the client's timeline; | | | | Your company is in the business of making |
| 2) Establish Sales Reporting Needs: make reporting | | | | money. Every minute that you are not in front |
| quick and easy for everyone; and | | | | of, or on the phone with, or supporting the needs |
| 3) Execute and refine as you gain a better | | | | of, a customer, prospect, or suspect, you are not |
| understanding of what information is really useful. | | | | adding value to the customer. If you are not |
| I don't recommend that your company spends | | | | adding value you are not going to get paid |
| $5M, or even $5/month, on a Customer | | | | (Revenue). Even if you work for a non-profit you |
| Relationship Management (CRM) solution. They | | | | need revenue (donations). |
| take too long to add value anyway - the point of | | | | # 17 Go to Training: I bet that there is at least |
| this article is results in 30 days. Look at what you | | | | one person in your company that is always in |
| need to report and report it in the most efficient | | | | training for one thing or another. I am also |
| and effective way possible. Leverage information | | | | confident that if you go to training, unless you are |
| technology, if that makes sense, or just have a | | | | at a very large company, you only go through |
| process flow for hard copy reports. Define | | | | product/service training and seldom to real sales |
| reporting parameters beforehand and make sure | | | | training. |
| that you report in regularly. | | | | I was in the information technology business for |
| # 7 Get Help / Offer Help: Show your | | | | fourteen years. I have been in back office |
| management that, by having a sales admin you | | | | support roles, I have been a techie, I have been |
| can increase revenue by X. Or reduce cost of | | | | in inside and outside sales, and I have been in |
| sales by Y. Or ...whatever metric you can use that | | | | sales and marketing management. I have taken |
| shows increased efficiency, value, to the | | | | so much training it is crazy. However, I have |
| company that you couldn't do on your own. This | | | | never been in sales training. The companies I have |
| sales admin person/team could also support more | | | | worked for were either distributors or resellers |
| than one sales person. Show value in real terms | | | | and I went to vendor 'sales' training countless |
| and you might get a favorable response. | | | | times. Turns out, they were not sales training. |
| For example, if I was going to pitch this I might | | | | They taught us how to position their products |
| say " Mr., or Mrs. Boss, it has been my | | | | services. That was product/service training, not |
| experience that, in most cases, Sales admin staff | | | | sales training. |
| keep more expensive, and productive, sales | | | | I was trained OJT (on the job), trial by fire, |
| people (like me) in front of, or on the phone with, | | | | mentored. Whatever you want to call it - it took |
| a customer, prospect, or suspect. In a layered | | | | too long to translate the training to a closed deal. I |
| sales force I feel that can contribute even more | | | | was very successful. In retrospect, I believe I |
| time to the sales cycle and won't spend valuable | | | | could have been much more successful, much |
| time on areas of the sales process that I am not | | | | more quickly, though, if I would have gone |
| as efficient, or cost effective, in. The key here is | | | | through structured sales training. |
| not to hire more sales staff, it is to get more | | | | # 18 Train Others in Your Company: Leverage |
| revenue dollars for every hour of my effort." | | | | your sales skills to help strengthen the relationship |
| If you are not a sales person, then offer to help. | | | | between you and the rest of the company. Do a |
| Talk to the sales team and determine where you | | | | series of 'lunch and learn' sessions. Require at least |
| might offer assistance. Working together with | | | | one person from each department, if that make |
| sales will give sales a renewed appreciation of you | | | | sense. The point is to give everyone the |
| and your department. It will also give you a | | | | opportunity (requirement) to participate. The |
| renewed appreciation of sales. Together you and | | | | focus of the training should be to educate the |
| your partner(s) in sales can revitalize accelerated | | | | company on your sales process and to get |
| revenue efforts while being an example for the | | | | feedback from all employees on new ideas |
| rest of the company to follow | | | | approaches. |
| # 8 Leverage Your Hunter and Farmer Skills: | | | | You will be pleasantly surprised where the best |
| There are two types of sales styles to focus on | | | | ideas come from. Remember to include ALL |
| to accelerate revenue, Hunters and Farmers. | | | | employees in the training sessions. The rewards |
| These two types apply to inside and outside sales | | | | will appear as accelerated revenue very quickly. |
| people. | | | | # 19 Get Everyone Networking: From the CEO to |
| Hunters are those sales people that love the thrill | | | | the sales team, including all marketing, fulfillment, |
| of the kill. As soon as they 'close' the deal they | | | | administration, and back office staff. Everyone |
| are on to the next. And they are very good at it. | | | | knows someone. Know who they know and |
| The main weakness of the hunter is that they | | | | leverage everyone to accelerate revenue. I |
| typically do not nurture accounts - they lose | | | | suggest that you start with a plan and some |
| interest in the account as soon as the 'deal is | | | | training that you provide during 'lunch and learn' |
| closed. | | | | sessions. Set the objectives of the Networking |
| Farmers nurture accounts. They typically don't | | | | Plan and communicate to the team. |
| penetrate new accounts. They take those | | | | # 20 Energize Alternate Sales/Marketing Channels: |
| accounts first closed by the hunters and expand | | | | Sure you have partners. In today's networked |
| them. Closing opportunity by opportunity, until | | | | world EVERYONE partners. Unlike others, make |
| they have sold all that they could sell into that | | | | partnerships work for you. I understand that you |
| account. The weakness of the farmer is that the | | | | might not have the authority to execute |
| company that they work for must continue to | | | | contractual relationships with partners, however, |
| evolve, adding new products and services, or the | | | | you can make personal commitments and team |
| value of the farmer drops quickly, for that | | | | with many partners to drive your accelerated |
| account, to the company they work for. | | | | revenue. |
| The key is for you to understand the two sales | | | | Determine which partnerships will drive the most |
| styles, understand which role you do best in. | | | | revenue for you, then develop and leverage them |
| Exploit your strengths and find a partner that has | | | | first. |
| complimentary strengths so you can leverage | | | | # 21 Integrate Internal and External Resources in |
| each other. | | | | Revenue Driving Activities: As either a product or |
| # 9 Increase Your Number of Cold Calls: If you | | | | service based company you value your staff at |
| implement only one idea out of this article THIS | | | | the top of the list of your assets. However, are |
| IS THE ONE! Don't waste your time with anything | | | | you leveraging them to grow your accelerated |
| else unless you cold call - a lot. Look at any report | | | | revenue? You should! |
| that measures correlation of the success of an | | | | Leverage all resources within your organization |
| individual sales person, or sales team, with the | | | | and your alternate channel organizations to: |
| number of cold calls. The number just don't lie. | | | | - Perform Presentations at Seminars/Conventions; |
| There is an absolute, and direct, correlation to the | | | | - Attend Pre-Sales Calls; |
| number of cold calls and the success of a sales | | | | - Attend Post-Sales Calls; |
| person, or team. | | | | - Run Cross Project Meetings; |
| Cold calling is just a form of networking. Everyone | | | | - Write Books and Articles; |
| in the company can support cold calling campaigns, | | | | - Train/mentor you; |
| whether you are in sales or not. Cold calling is as | | | | - Build Relationships with Your Customers |
| simple as calling someone you know, a friend | | | | Prospects; and |
| associate, in a company that is not a current | | | | - Build a Name for Your Company. |
| customer, or in a different division in a current | | | | Leverage Your Back Office Staff too. Get |
| customer, and having a conversation about their | | | | everyone in the company involved in customer |
| business - everyone loves to talk about | | | | related activities, including the back office. Many |
| themselves. Keep in mind that you do not need | | | | companies follow the 'Everyone Sells' approach - |
| to close the order. You need to initiate the | | | | you should as well. For example: |
| contact and then get a sales person involved. You | | | | - Have Accounts Receivable (A/R) Meet with |
| can continue to follow up with the sales person as | | | | your Customers to:o Pull in Credit Termso Collect |
| the opportunity materializes to an order. Just | | | | on Slow Playerso Usually Invoicing Issueso |
| make sure that, once you have initiated contact, | | | | Understand the Customer's Best Practices |
| you communicate through the sales person or | | | | - Process |
| you just might become the problem. | | | | - Procedureso Build Relationship with Your |
| # 10 Perform and Leverage Win/Loss Reviews: | | | | Customer's |
| Win/loss reviews are probably the most valuable | | | | - Buyers |
| sales tool to use AT ALL TIMES, and not just in | | | | - Accounts Payable |
| tough times. Unfortunately, since most of the | | | | - Have Accounts Payable (A/P)o Shop for Better |
| results of the review are view as more of a | | | | Pricing and Termso Pool Buying Power with |
| marketing function, most sales organizations do | | | | Partnerso Build Relationships with Vendors |
| not do them, or worse, do them incorrectly. Also, | | | | - Understand the Vendor's Best Practices |
| many sales people, and their managers, are afraid | | | | - Process |
| of what the review will tell them - what they | | | | - Procedures |
| need to do to be successful. (areas of weakness) | | | | # 22 Revitalize Your...SELF. Here are some tips I |
| What a win/loss review is? A win/loss review is | | | | strive to use often: |
| an in depth analysis of all aspects the sales | | | | - Regulate your thoughts - wipe out worry - rid |
| process for a particular deal. You need to look at | | | | your self of resentment |
| each and every win, and loss, and ask, | | | | - Nourish your mind, read |
| sometimes tough, questions. Questions that are | | | | - Act the way you want to feel |
| very similar to what you learned in college about | | | | - Remember, trouble finds everyone - keep |
| journalism, the five W's and one H, sometimes | | | | perspective - focus on your response |
| called the 'Journalist's Six W's' (Who, What, When, | | | | - Take time to reflect - before reacting - restore |
| Where, Why, and How). Why you won the deal | | | | your sense of perspective |
| (Win Review)? Or Why you lost the deal (Loss | | | | - Laugh a lot |
| Review)? | | | | - Learn from difficulty - seek opportunity in the |
| As you review your wins, and your losses, make | | | | difficulty |
| sure you continuously scrutinize your pricing policy. | | | | - Recharge relationships - seek solace from family |
| If you are losing based on price, make sure that | | | | and friends |
| you understand, in detail your sales process. If | | | | - Lend a helping hand - helping others has been |
| you sell based on value (realized value to the | | | | found to be the best medicine |
| customer, not what you perceive your value to | | | | - Keep going - don't get 'stuck' in the difficulty, |
| be) then you don't need to reduce price, you | | | | identify it and move on |
| might just need to work on your approach in | | | | - Waste less time |
| establishing, and communicating, value for the | | | | - Exercise regularly |
| customer. | | | | - Contribute to your community |
| # 11 Visit Your Past Customers: Start with your | | | | - Do not neglect my family in pursuit of the |
| top ten former customers. Call them, or have | | | | almighty dollar |
| them called by an executive. See how they are | | | | - Focus on quality |
| doing. Ask them why they have not done | | | | Now it is time to put together your accelerated |
| business with you recently (this is a very valuable | | | | revenue plan! Your plan should include many of the |
| method to understand the customer's perception | | | | areas covered in this article, and many more. |
| of your company). If there are any issues, work | | | | Good Selling! |
| through them. If not, engage the customer. Get | | | | |