7 Essential Facts Your Salespeople Should Know
1. 90% of marketing deliverables are never used during or after sales calls.
Marketing departments spend much time researching, designing, and marketing materials to aid salespeople. Whether these materials are for internal or external use it can be utilized to prepare for prospecting or create a discussion. If collateral isn’t being utilized or distributed, it’s just a waste of time and money. Marketers want drive revenue through their efforts, but this often requires the sales team to spend valuable time through manually connecting each relevant campaign with a contact record in a CRM. Even if the sales reps do understand the value in making these associations with each marketing effort, it can be very difficult to get started and then stay up-to-date across the entire sales team.
2. Numbers aren’t everything.
The quality of the leads that you contact is more important than the amount. Quality over quantity. Genuine leads are more desirable because they have a better chance of actually moving forward to the next step of your sales process. Consider the amount of time it takes to research and prepare for the meeting, would you rather spend time on an un-qualified lead or someone that is already interested in hearing what you’ve got to say? I think most of us prefer the former lead.
However, instead of just getting leads, why don’t you track the progression of new contacts and how they convert through your sales process. For instance, what does it take to get a new contact to become a suspect to prospect to scheduled appointment to closed customer? This is an opportunity to focus on assessing the new contacts you’ve gained and then analyze the success produced by the campaign. Remember, taking the time to calculate campaign metrics and reflect on your lead generation process can be very insightful and informative for how you track, measure and optimize your lead generation campaigns more effectively.
3. 80% of sales are closed on the 5th contact with the prospects.
Typically, most of the prospects we talk to are not ready to commit on the very first meeting. They will most likely need some time to consider their options and think about the product or service being proposed. Often times, closing a sales takes time and many meetings. There are lots of pre-sale considerations that need to take place. For instance, there could be other meetings to include other stakeholders to ensure buy-in, bring in any technical/operations people, negotiating, and then planning for implementation. In most cases, if you are working with a prospect to close a deal, it’s reasonable to say that about five meetings are needed to satisfy the many stages of the sales process.
4. Price is not the primary reason why a product is purchased.
Price-cutting is a common sales tactic for fast-moving goods that have many similar substitutes easily found in the marketplace. The competition is fast and fierce so it’s important that you make your product or service stand out from the competitors. Make it valuable and keep it simple. How can you do this? Marketing material is the key to closing your deal. (refer to #1).
Remember, when it comes to negotiating, stick to your gut. Your job is to prove to the prospect that your product/service will help them solve a challenge they are facing. You are an expert in your product and you know what the deal is worth, so weigh the pros and cons of the deal as if it was going to happen.
5. Thursday is the best day to prospect, Tuesday is the worst.
Thursdays are the best days to contact new leads. And believe it or not, both Thursdays and Mondays are almost 50% more effective than other days throughout the week when it comes to reaching out to new people and qualifying new leads.
On the other hand, according to a recent survey, Tuesday mornings at 11:45am is the most stressful time of the working week. Although we all know Mondays can be a little tough, Tuesday is the day reality sets in and we put our nose to the grind to try to get as much work completed as possible as well as filter through all of those pesky emails that have been piling up in your inbox.
6. 4:00pm – 6:00pm is the best time to make contact with a lead.
What time of day do you usually prospect for new leads? Typically, early in the morning can still be one of the best times to qualify a lead, however, late afternoon and shortly after regular business hours have been identified as one of the best times to make contact with a new lead. Remember if your lead is in local time or in a different time zone, this could be crucial towards your timing. There are not usually as many meetings scheduled for this time of the day compared to the rest of the day and so there is a great chance of the decision maker that you need to connect with being at their desk.
The lunchtime period of 1pm to 2pm is one of the absolute worst times to call a new lead. Typically, this is the time that people are out to lunch, just coming back from lunch or running to another meeting after lunch. Regardless, it’s not an optimum time to call new leads.
7. Top sellers use Linkedin at least 6 hours a week.
Linkedin has proven itself as an extremely powerful tool for business professionals in any industry. Linkedin can be a fantastic way to interact with new audiences and search for new leads within companies. Sales professionals can subscribe for extended access to profiles and advanced targeting. Linkedin Sales Solutions allows you to discover valuable information about your sales prospects to initiate conversations.
The services Linkedin provides allows sellers to build trust and rapport with warm introductions - never cold call again! If you are not using Linkedin already, you must do so now!
Also checkout our article about How to Utilize the Power of B2B Social Selling
We hope you enjoyed this article, comments and questions are welcome!
About Steve Bookbinder
Steve Bookbinder is the CEO and sales expert at DMTraining. He has delivered more than 5,000 workshops and speeches to clients all over the world and has trained, coached, and managed more than 50,000 salespeople and managers. Steve continuously refreshes his training content to reflect his latest first-hand observations of salespeople across industries and regions. Through him, participants in his workshops and coaching sessions learn the best practices of today’s most successful sellers and managers across industries. Steve understands that sales is a competitive game. To outperform competitors and our own personal best results, we need to out-prospect, out-qualify, out-present and out-negotiate everyone else, not merely know how to sell. Through his specialty programs in Pipeline Management, Personal Marketing, Great First Meetings, 2nd-level Questioning, Sales Negotiating, and Sales Coaching, Steve trains sales teams to master the skills they need to overcome the challenges they face in today’s world… and keep improving results year over year.