Does your sales strategy belong in the past or has it evolved with the times? The importance of winning sales is obvious to all businesses. However the sales process has changed, as has the view of sales people. Recruiting sales people is harder than ever. Having an up to date sales strategy will help you attract and retain sales talent, giving them and your business greater opportunities for sales success.
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Sales Strategy | Intro
You know you’re business, products, route to market and target clients better than anyone. Therefore I’m not suggesting I can write your sales strategy. However, when taking a recruitment brief for a sales or business development assignment, it’s clear some companies are looking to recruit sales people from an era that has passed. Without an appropriate sales strategy, suitable for the modern sales environment, you’ll struggle for success. Both in terms of recruiting and retaining sales talent, as well as winning new business.
The sales and business development process has changed. The buying process has gone from decision makers to decision makers and influencers. Increasingly often, the multiple layers within the buying process are now aware of the costs of the products and services they require.
Companies that haven’t embraced the modern sales environment, or have an appropriate sales strategy to support their sales team, should realise that sales people won’t be interested in their sales vacancies. Those who are will probably find it difficult to live up to expectations and may not be given the time required to succeed.[/vc_column_text]
Sales Strategy | Recruiting sales people
In my experience there’s always been an element of a “them and us” culture, around sales people. Often adored by owners and senior management teams, for bringing in new deals, resented by others for being adored, or earning big commissions. Yet recently this divide seems to be getting worse. Sales people are needed by companies, but at the same time are mistrusted. This could be down to previous sales people failing, which could also be down to unrealistic expectations or a lack of an effective sales strategy, to support them.
I’ve met with agency clients to discuss their sales recruitment brief, where an obvious dislike of “suits” is apparent. They distrust sales people, and doubt them during the interview process, by the very nature of the fact “they’re sales people they’re bound to be able to sell themselves”. Others have spoken about the need for the sales person “to hit the ground running” and how “hard it is to find good sales people”. But when asked what they do to help their sales team, there isn’t a lot that comes back.
Today just giving a sales person a phone, laptop and car then expecting them to bring in new business isn’t enough. Gone are the days when the sales person has a portable client list that will just simply follow them the minute they move company. Contacts and an understanding of developing new business is what you can expect. But that can take some time to deliver results. You need to factor this in to your sales strategy when recruiting sales people.
47% of companies say it takes 10 or more months for new sales people to become fully productive, 67% are 7 or more months.
(CSO Insights)
On Average, from the date a sales person starts a job, to the time they leave, is less than two years.
(Sales Readiness Group)
58% of sales reps make their quota.
(CSO Insights)
There’s a minimum 20% annual turnover in sales people, rising to 34% if you include those who leave voluntary and involuntary.
(Bridge Group research)
25% of Millennials say they’ll leave their job within a year. 44% say they’ll leave within two
(Research from Deloitte 2016 Millennial Survey)
Sales leaders spend only 20% of their time helping their team close sales.
(CSO Insights)
.
From the date they start a job to the time they leave, on is less than two years, for a sales person.
(Sales Readiness Group)
Millennials cite a lack of professional development, coaching & mentoring as the top reason for leaving a company.
(Deloitte and CEB studies)
88% of sales professionals are unable to find or bring up critical sales material on their smartphones
(CSO Insights Survey)
Complex B2B solutions can have sales cycles longer than 18 months.
Signs your sales strategy needs a root & branches review
You think cold calling is the best way to develop new business
According to the Harvard Business Review cold calling is ineffective 90% of the time. Recent research shows that less than 2% of cold calls result in a meeting. Assuming a 0.3% appointment rate and a 20% win rate, it would take 6,264 cold calls to convert just 4 sales.
You haven’t embraced the concept of client attraction
Marketing has replaced the first stages of new business development. We’ve already established that days of initial contact being made by cold calling are over, having an effective marketing strategy is vital to attract new clients for your sales team to convert.
You’re expecting instant revenue from your new sales people
The sales process can take longer than eighteen months. If your judging your sales people on the first three to six months, then consider how to measure their success. Simply judging them on the numbers isn’t giving them the time to succeed, or you the time to get the return on your investment. A constantly revolving door is never going to lead to long term sales success.
You don’t provide sales training
Whether its internal or external coaching and mentoring, salespeople, especially millennials, need strong coaches and mentors to find long-term success. according to Deloitte and CEB studies, millennials cite a lack of professional development, coaching and mentoring as one of the main reasons for leaving a company.
Your sales team don’t have the appropriate tools
60% of sales organisations report a longer sales cycle due to a lack of proper tools. Companies that want better sales success should invest in more modern sales specific tools and platforms. A CRM (Customer Relationship Management) system, marketing tools and the ability to track analytics will increase the effectiveness of sales activity and the quality of engagement.
The role of sales isn’t dead but the old approach is dying
Whilst ever businesses need new clients, they’ll always need sales people. Realising sales people aren’t the short term answer to fixing black holes in your order book, and looking at them as an investment, will make you and your sales team happier and more effective. Yes, it can be costly to bed in a new sales person, allowing them the time to be succesfull. But by not supporting them properly and by cutting them free after a short time, you’re unlikely to ever see the results you’re expecting or the return on your investment.
Turn sales into a science
Through our network of interim management and business consultants, we can put you in touch with highly experienced professionals with understanding of your markets. They can help you review your marketing and sales strategy, implement effective new strategies to increase productivity and sales success as well as provide sales training, coaching and mentoring to senior leadership teams or your sales team.
Get in touch to discuss your sales development needs of view our interim recruitment services to find out more.
