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How to Sell Strategically
If you want to maximize your sales performance, take a strategic approach to selling. After all, wouldn't you agree that "the 80/20 rule" applies to customers, where approximately 20 percent of customers produce approximately 80 percent of sales? The starting point for strategic selling is figuring out a) which customers produce the bulk of your sales, and b) what they are buying. Armed with this information, you can strategically plan how to increase sales. Critical Data Elements If you want to sell strategically, you need to have access to specific data elements. Plus, you need to be willing to perform data analysis. Which data elements do you need? This list provides a reasonable starting point:
How frequently should the data be made available to salespeople? If sales cycles are relatively short, it would be ideal for the data to be available on demand, with the minimum frequency being weekly. For longer sales cycles, providing the data on a monthly basis may be adequate. Strategic selling begins with data availability. If you are going to maximize sales, you need to be able to analyze your customers' buying patterns to determine how to prioritize your efforts. Which customers should you spend the bulk of your time with? How much time should you allocate to each customer? How will you increase sales to specific customers? Which new prospects should you pursue? Plan your work, work your plan, and compare your results frequently against your quota and personal goals. Sell strategically to maximize your sales, minimize unpleasant surprises, and maximize your earnings! Copyright 2005 -- Alan Rigg Sales performance expert Alan Rigg is the author of How to Beat the 80/20 Rule in Selling: Why Most Salespeople Don't Perform and What to Do About It. To learn more about his book and sign up for more FREE sales and sales management tips, visit http://www.8020performance.com.
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Careers and Employment Is Your Forecast Too Sunny? How to Improve the Accuracy of Sales Forecasts As spring moves to summer, the forecast should be for warmer and sunnier weather. What is the forecast for your business? Is the outlook sunny or cloudy? Book of Lists Marketing for Pressure Washing Companies The American Business Journals produces a Book of Lists each year in their many markets, it is wise for pressure washing companies to use this book of lists to find new clientele. The book of lists, lists the top companies in size in all industry sectors. Since pressure washing companies clean almost anything, it behooves them to use the book to selectively target the top companies to do business with. Disclosure Laws Favor International Terrorists The Federal Trade Commission has rule that are supposedly in place to protect franchise buyers from fraud from franchisors who might attempt to mislead them into purchasing a franchise. Part of the franchise rules are addressing required disclosure paperwork. In this disclosure document, which is required to be given to franchisees 10 days before any purchase is made are the names, addresses, phone numbers of all franchisees in the system. For smaller home based franchises this means home numbers, addresses and personal information. Not Enough Fresh Sales Leads? Marketing is the New Sales Your sales are down and leads are rare. The phone's not ringing. Let's blame marketing! Increase Retail Sales With Meetups I recently attended the monthly Italian language Meetup here in Little Rock. Meetups are informal social gatherings of people with similar interests in a particular topic. Topics for Meetups range from political to cultural to intellectual to fun. Pointless Targets I recall a heated discussion with a sales director some time ago where I proposed that the long-term effect of setting activity targets for salespeople would eventually lead to failure. He vehemently made the point that he had systematically imposed activity targets on his sales force and that the result had been to treble average income per salesperson within 18 months. How to Beat the 80/20 Rule in Sales Performance -- Part 2 Another key reason why companies suffer from 80/20 performance is their processes for hiring, training and managing salespeople rely almost entirely upon subjective information. Think about it: What are resumes? They are an individual's subjective portrayal of their capabilities and experiences. Sales & Marketing Plan Strategies Design and Implementation of a new Sales & Marketing campaign must be carefully thought through from the beginning. What message do you want to send about your company, products, and services? What are the anticipated results? What is the execution strategy? What is the cost ratio versus expected return? How to Organize a Seminar or an Event Seminars and events have always been implemented as a holistic experience to participants. Thus, organizing an event requires extensive planning and preparation with most work implemented at least a few months before the actual event. Most of the time, seminars seem to run like clockwork with all events flowing smoothly according to schedule. In reality however, much groundwork has been worked on with the purpose of developing the right atmosphere in addition to a beneficial experience to partipants. A Real CRM Strategy or Just Tracking Customers? Exactly what is CRM How to Increase The Sales Of Promotional Products I have searched for a new way to increase the sales of my promotional products. A good way is to start an affiliate-program with a commision for every customer who buy an product and who came to your page from a webpage of one of your affiliate-partners. 14 Top Lead Generation Tactics According to former Harvard Business School professor David Maister, typical marketing practices are not only inapplicable for professional service firms, but they may be dangerously wrong. 8 Procedures to Take Control of Sales and Marketing The Cash to Cash Cycle Part Three of Series Set Yourself up for Trade Show Success Of the many mistakes small business owners make, a big one is participating in trade shows and business expos without a strategy for turning those marketing opportunities into sales. Here are five tips to get you started. Leadership Lessons for Sales Managers Leadership, like class, is hard to define, but easy to spot. 10 Things to Help Your Business When Sales Are Slow During the Holidays Twiddling your thumbs and waiting for some business to come in? Why not use this downtime to set yourself up for greater success in the new year? Here are my 10 picks, but you don't have to do them all. Even doing just one will get you another rung higher on your business ladder. The Sales Carpenter I remember moving my family to Argentina as Vice President of Sales for Latin America. I was in charge of managing five regional offices, Argentina of course being one of them. 100% Commission Equals Zero Percent Control The temptation to use straight (100%) commission plans never goes away: "Let's put our salespeople on 100 percent commission. Then, if they don't perform, we're not out any money." For small, start-up organizations, the lure is irresistible, especially when money is tight and the company or the products they sell have no track record in the market. T. L. S. Part I: Tier Level Selling A Penetration Strategy A number of sales "Gurus" have promoted the theory that states, "concentrating strictly on your top level premier accounts (some even quantify that by stating your top twenty) will provide you with as much growth and profit as you can possibly handle." This is often stated regardless of individual and corporate strategic initiatives. This position is based on the following facts and assumptions. The Boss from Hell: Quick to Criticize, Slow to Praise So you have a boss who dumps all over you the moment things go wrong, but never seems to notice when things go right. Ouch.
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