The 5 Principles of Sales Excellence maximises the efficiency & productivity of your sales efforts.
Companies spend somewhere between 5% to 15% of revenue on their Sales Professionals & if you really want to focus on growth this is around 20% of revenue.
How business leaders use that investment makes a huge difference on both top-line growth and the bottom-line.
Therefore getting it right is super important.
The Battle cry from the boardroom
“We need our Sales team to sell more!”
Have you heard these words in the office corridors or boardrooms of your company?
I have on many occasions and it frustrates me as I’ve not met a Sales professional who tries to sell less or close less deals.
The answer to that “we need to sell more!” statement is often marketed in the claims of sales technology solutions & made by sales trainers.
Let’s take a look at what these options offer.
Sales CRM & technology solutions
How many sales CRM tools that have been sold as a solution to “sell more” now sit in the CRM graveyard?
With adoption rates averaging 47% as reported by CRM Magazine, or, 26% as reported by Salesforce, is the right decision to move to a technology solution?
When companies have good adoption & the right sales behaviours in place as seen in the IBM 2017 CRM Statistics report they see results.
Productivity increases to 50%, Sales quota attainment is at 65% & 74% of businesses improve their customer relationships.
The Cloud brings new possibilities for sales & there can be no doubt about the impact technology has on sales results & ROI.
It’s no coincidence that companies only see these results when they have the adoption & desired sales behaviours in place.
Sales Training providers
Business leaders must be committed to train their Sales Professionals especially as research shows that 84% of sales training content is lost after 90 days.
Sales training loses its power when a sales professional is not given the opportunity to apply new skills in their actual work environment.
One obvious conclusion is that if sales training is to have any chance of being effective, it must be continuously reinforced in daily routines.
This points to the criticality of the Sales Manager role in embedding training through effective Sales Coaching.
Research by CSO Insights, The Business Case for Sales Training shows the impact of where sales training “exceeds expectation” compared to companies that “meet expectation” or “need improvement”.
It’s important to note these results happen if companies have Sales Managers focusing on Sales Coaching ensuring ROI is maximised.
Therefore which option should a company choose – Technology or Training?
I’m not sure it’s possible to know the answer to that question without knowing what problem you are looking to solve.
What is it that needs fixing that would enable your company to “sell more“?
The key is ensuring your company has effective Sales professionals & effective Sales processes.
The 5 Principles of Sales Excellence helps businesses invest correctly by identifying & focusing on the areas of sales excellence that create the greatest impact for your company.
The 5 Principles of Sales Excellence:
Business Strategy – Leadership has a genuine commitment to develop Sales Excellence.
Growth Management – Meaningful targets are set and the performance of the business is made visible.
Sales Leadership – Managers spend their time on business performance and people development.
Sales Execution – Sales standards are clear & consistency in Sales Execution is achieved.
Pipeline Management – Sales pipeline and lead management practices are in place and are effective.