In situations where complex deals and large buying teams are the norms, the path to closing a deal often feels like navigating a labyrinth. My discussions with clients have illuminated the critical role of a well-structured approach in guiding selling and buying teams through this maze. A pivotal element in this structured approach is the adoption of a Decision Timeline (DT): a collaborative project plan outlining action items for both parties to facilitate a decision that leads to a financial transaction for a product or service. Understanding the Decision Timeline A Decision Timeline serves ..read more

Staying top of mind with your customers and prospects is crucial for long-term success in B2B sales. As a salesperson, you understand the importance of improving a company’s revenue generation capability. One often overlooked strategy is the art of sharing industry and management articles with your clients. In this blog post, we’ll explore why successful salespeople who read and share articles can be a game-changer for your sales strategy. The Value of Industry and Management Articles Sales professionals are often the front-line ambassadors of a company, representing its products, services, an ..read more

In the world of sales and marketing, there is a principle known as the “Rule of 7.” The Rule of 7 is a principle that states that a prospect needs to see or hear a message at least seven times before they take action. The idea behind the Rule of 7 is that a prospect must be exposed to a message multiple times before being motivated to take action. This principle was first introduced in the 1930s and has been used in the sales and marketing industry ever since. However, exposure alone is not enough. The timing of these exposures is just as important as the frequency. The science of memory For t ..read more

My good friend, Dean Wiener, published the following post on LinkedIn about some of the “secrets” to his success over many decades. He was kind enough to allow me to embed his post into this article. Let’s explore each of these items in a bit more detail. 1. I attach my solution to a big problem/pain/goal. As a salesperson, it is your job to understand your prospect’s needs and offer a solution that meets those needs. However, simply offering a product or service is not enough. You also must demonstrate how your solution can address a specific problem the prospect is facing. Doing so will mak ..read more

The sales profession is incredibly difficult, and failure is common. There is no profession (aside from marketing) where the expectations are so significantly missed. It is not unusual for 10-20% (or even 30%) of a sales team to not achieve their company-set goals. If accountants failed at that level, most companies would get fined by the SEC and the IRS. If product engineering failed at that level, the products we buy would constantly fail. Some of this is the way that companies set their quotas. It is common practice that companies will set quota (i.e., the expectation of success) so that on ..read more

In most industries, a single company controls the market. Compared with their competitors, they have a much larger market share, top-of-the-line products, a more significant marketing budget and reach, and more company cachet. Life can be very intimidating for salespeople who compete against these industry giants. However, a Harvard Business Review study provides some good news in this regard. Buyers aren’t necessarily fixated on the market leader and are more than willing to select second-tier competitors than one might expect. In fact, only 33% of participants indicated they prefer the most ..read more

When it comes to sales calls, there is no one-size-fits-all approach. Some prospects want a salesperson who will confirm their existing thoughts and perceptions, while others are looking for someone who will challenge their assumptions and prescribe a new solution. The key is to be able to read the situation and adjust your approach accordingly. If you sense that the prospect is resistant to new ideas, it may be best to focus on reaffirming their existing beliefs. However, if the prospect seems open to new possibilities, you’ll have an opportunity to introduce them to a solution they may not h ..read more

According to a study by Harvard Business Review, buying committees are getting larger. Salespeople have no option but to become skilled at dealing with buying committees. Whenever a company makes a purchase decision that involves a team of people, factors including self-interests, politics, and group dynamics will influence the final decision. Tension, drama, and conflict are normal parts of group dynamics because purchase decisions typically are not made unanimously. One critical research finding is that 90% of study participants confirmed that there is always or usually one member of the eva ..read more

Sales professionals have always been under pressure to close more deals and hit their targets. But now, with the help of artificial intelligence (AI), they can be even more effective in their roles. AI tools can automate routine tasks, helping salespeople focus on their jobs’ essential aspects. And by providing insights into customer behavior, AI can help sales teams to understand their customers better and close more sales. So if you’re looking for a way to boost your sales performance, consider using AI tools in your workflow. You won’t regret it! For example, machine learning and natural la ..read more

You have to improve and capitalize on your personal relationships with the companies in your territory. You should probably focus on the top five to ten companies that most closely align with your perfect customer. If you do not know someone at one of your top 10 accounts, that is not a reason to skip them. You must build that relationship. You will create these relationships by leveraging: Your best clients. Your former employers and former co-workers. People that your prospect respects. The best way to make a connection to your unknown prospects is via the social platform LinkedIn. The sit ..read more