Sales people lose sales when they are not trusted and respected, and they can’t communicate effectively with senior executives who have the final say. That is why tops ad-sales people need to bring value to the call; not about their media, but new information or new perspective about the prospects market.
Many senior managers, without experience in sales, try to increase sales by setting deadlines and adding bonuses that hurt sales and hurt business. According to Ken Krogue, writing in the Harvard Business Review, “It is a vicious cycle. And companies know it. Yet they continue the practice, month after month and year after year, perhaps unaware of how much it’s really costing them.”
Your opening lines, whether your prospect answers the phone or you leave a phone message, must be smartly specific to that prospect and that business. When you can cite a specific data point about that business, the prospects ears immediately perk up. It’s a data-driven version of a warm call.
The top sales professionals ranked the effectiveness of five sales strategies. The top-ranked strategies were “Getting customers to emotionally connect with you” followed by “Tailoring your sales pitch to the customer’s needs” and then “Asking questions that show your expertise.” The two lowest ranked strategies were “Showing the value of your solution” and “Driving the topics of conversation.”
As a media company manager, you talk all the time about how fast the media business is changing around you. Do you spend enough on helping your sales force stay up-to-date with new media, and new tactics to win in todays hyper-competitive advertising sales market? US companies spend 1.75% of sales compensation on training. That would translate to $1,750 annually for a $100,000 a year sales executive.
Dr. Arvey uncovered research attesting to the benefits of face-to-face meetings while preparing a report: “Why Face-to-Face Business Meetings Matter.” Studies indicate 85 percent believe face-to-face meetings are more likely to result in breakthrough thinking; and 82 percent believe that meetings bring out the best in people.