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Casual Articles - Sales Management - How to Stop Wasting Expensive Technical Resources
Today more than before, flexibility or maneuvrability, is important when designing or buying information systems. This is a new kind of thinking where it is no longer sufficient to construct an information plan for the near future and design systems as planned. Plans do change often and before your system is implemented there is already a new technology available that provides other opportunities.The depreciation rate of information systems is higher than any other investment category. Change is the order of the day.But t
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
To handle resistance to your ideas and influence, you will first need to pinpoint exactly why there is an objection. Typically, people object or resist because they:• Don’t fully understand your proposal• Misunderstand it• Don’t feel a need to go ahead• Don’t recognise the benefits and advantages• Don’t believe your claims• Are happy to remain as they are• Genuinely need time to think things through• Don’t trust you• Display general inertiaWhat Type Of Resistance?
How often does this happen?
An excited salesperson contacts his or her sales manager and alerts them to a new opportunity. The sales manager assigns a technical expert to visit the prospect with the salesperson. The salesperson and the technical expert drive (or fly) to the prospect's location and spend days or weeks analyzing the prospect's situation. They perform product demonstrations and evaluations. Eventually they prepare a detailed proposal and deliver it to the prospect.
Unfortunately, the deal never closes...
The opportunity languishes in the salesperson's pipeline for many months and is eventually deleted. Even more unfortunate, all of the time and money your company invested to pursue the opportunity (salesperson and technical expert salaries, travel and entertainment expenses, product demonstration and evaluation costs, proposal preparation costs, etc.) was COMPLETELY WASTED.
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and service training costs and increased size and quality of your company's sales opportunity pipeline.
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!<
Direct marketing is attractive to many marketers because in most cases its effectiveness can be measured directly. For example, if you were to send out one thousand solicitations by mail and you receive seventy responses, then you know that the mailing led to a seven percent response rate.Any medium that you choose to use to communicate directly to your prospects is being employed in direct marketing. These 5 methods are examples of direct marketing that you can use to obtain prospects and increase sales for your business.
The opportunity languishes in the salesperson's pipeline for many months and is eventually deleted. Even more unfortunate, all of the time and money your company invested to pursue the opportunity (salesperson and technical expert salaries, travel and entertainment expenses, product demonstration and evaluation costs, proposal preparation costs, etc.) was COMPLETELY WASTED.
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and service training costs and increased size and quality of your company's sales opportunity pipeline.
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
Dozens of business people were rehearsing scenes like this in the hotel ballroom as I stepped away and into the elevator. As the elevator doors opened, I stepped into an impromptu encounter with Glenn Harrington of Articulate Consultants Inc. Since my role at the conference was basically to smile and draw attention, I did not know who he was. As the elevator doors closed, he gave me a gentlemanly grin. Then I got the real thing.“Hello,” I said with a smile. Having just come from the conference in the ballroom, where people were
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and service training costs and increased size and quality of your company's sales opportunity pipeline.
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
Here's a lil' email trivia for ya.It is known that there are over 3 billion emails sent everyday. And over 55 billion email spam sent everyday.Let me repeat, that's billiuhn not milliuhn.Many online businesses have email newsletters that customers subscribe to.Many customers subscribe to numerous newsletters.Bottom line, the average Joe and Jane receive at least 70 emails a day. And that's on a slow day.Its getting tougher and tougher to stand out from the other emails that compete for your cu
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and service training costs and increased size and quality of your company's sales opportunity pipeline.
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
The economic explosion of ChinaChina is one of the most promising countries of this 21st century from an economic standpoint. The economy is soaring. China is one of the only countries that experience a two digit growth. The size of the Chinese market is huge. China was the first country to reach one billion people, and they are now close to 1.5 billion.A short trip to Shanghai allows a quick evaluation of the country's rate of economic development. Wherever you look you will see cranes. Constructions of
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
Copyright 2005 -- Alan Rigg
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