Monday, December 17, 2012

Strategic Components of Contact Relationship Management

Technology and communication advancement has opened the corridor to new markets, providing for a cost effective approach to expanding your customer base while building new relationships. As sales professionals we must understands the value of developing, building, maintaining, and growing relationships. An intangible value of a sales person is who he knows and how well he knows them. Credibility within the marketplace allows sales professionals to flourish. The best interest of the client and your company, the old win-win is still the best approach.

The World is Smaller than You Think

The distorted perception of an endless funnel of prospective clients has devalued the relationship building process, which is a pillar for success in this globalization era. Every interaction with a prospective contact must be leverage and converted into an asset component of an every growing network of contacts. “An opportunity lost is a contact gained!” Many sales people neglect the strategic component of contact relationship management, which prepares you for the initial communication with the prospective contact. Time is a valuable commodity that must be respected. If you are ill prepared, what value can you effectively present to a prospective contact? Burning your bridges early will effectively lead to low conversation rates and can tarnish your reputation in the marketplace. People deal with people, do your homework and build successful relationships. The world is smaller than you think!

Tuesday, December 11, 2012

Sales Engagement: Breaking the Habit of Auto-Responding

In larger organizations where an eco-system of teams and departments must communicate effectively and deliver across an engagement or project is a strategy that would not be so effective nor welcomed. Permission is not always relative to getting consent.  It is an effective manner of notifying others and/or initiating a link within the entire process to achieve a desired end result.

Asking for Permission or Forgiveness

I recently had the opportunity to have a chat with a Senior Executive from a large software company when he asked me this question, "Are you one to ask for permission or forgiveness. Instinctively I responded, "It is easier to ask for forgiveness". After leaving that meeting on my drive home from Toronto I realized that the response I provided was a conditioned one. As I reflected on the question I started reconstructing why I responded the way I did.

The New Breed of Salespeople: Hunter or Farmer?

Claws and fangs don't make you a good hunter but rather knowing how to use them within the context of your prey does. 

I had a discussion with a colleague recently when he made a statement regarding types of salespeople, specifically hunters versus farmers. His perception was that you are either one or the other and that hunters’ are a much rarer breed. 

Certain people may be predisposed to being more effective in a hunter role or new business focused role, which is supported by their core skill set and the learned behaviors they have developed over time. That does not mean that these skills cannot be acquired or effectively build repeatable processes and doing the right things will not allow others to be successful within a hunter role. 

Monday, October 15, 2012

Is the Choice Really Right For You!

When making choices or setting goals one need to make sure they are considering all factors and consequences. Some common mistakes many people make or factors they fail to consider but should are the following:

Tuesday, September 25, 2012

A Problem Is Not Really A Problem Until The Symptoms Are Realized

I worked with a large financial institution that had been delaying a prospective retention and ediscovery project for almost two years. The project was something their executives knew would eventually have to addressed but the priority level was deemed lower than other projects as they had not had a formal ediscovery request thus far so no tangible realization of pain.

Thursday, September 6, 2012

Executives Expect You To Be Prepared

Before engaging executives you need to do your homework and understand the key business issues impacting the prospective client and the initiatives that maybe underway to address the issues. The vast amount of information on the internet today has made this much easier than it use to be. Quick access to the financial/annual reports section pertaining to the mission statement, the president's letter, or other viable information areas regarding the strategic direction or key initiative will provide a lot of valuable information.

Tuesday, August 28, 2012

Consistent Hiring Process

Many critical decisions are still based on the opinions or perceptions of a few rather than a consistent process. This includes the hiring of new employees. The qualitative relevance does have a place but in the ending stages of evaluation and selection process but somethings dictates the shortlisting of candidates rather than being an addendum to qualitative review.

Monday, August 27, 2012

Building Processes Helps Mitigate Fluctuations In Revenue

In sales the factors impacting your pipeline will always be in flux but successful sales professionals understand the importance of building out repeatable processes. Understand what activities contribute to the desired results and what don't. Incorporate or eliminate the tasks into or out of your sales process. Understand the stages of the process and benchmark outcomes to build predicability at each stage. Execute on tasks to beat targets. Downturns don't deviate you from your objectives or the process. Continued execution on doing the right things rights will help mitigate the fluctuations even in economically challenging time. Thoughts to ponder!