Viewing entries tagged Sales Management
Part 1 in a the 7 part series - "Seven Mistakes Companies Make Managing Sales Teams"
In 1985 I was tasked with selecting a distributed computer solution for Printing & Packaging company I worked for. I had set up a number of presentations with the usual suspects including IBM and Wang. The presentations by these folks were grand affairs, with upwards of six sales people involved. I recall the presentations today, not because of the content, or the wonderful things their applications did. What I remember is the way they made me feel about their company. I felt that either Wang or IBM would take care of my company. They made me feel like I "knew" their products and their employer. And they knew their stuff - what their products did, why I should care and why their total solution would fit my needs better than any other.
Discounting is bad business. It kills your top and bottom line and destroys morale of the sales team as quotas are missed. You assume your reps discount because they lack the skills to sell at full price. They discount because they believe it's the only way they can close the deal. The divergence in these beliefs fuels the multibillion-dollar sales training industry.
With 84% of training content forgotten in 90 days, it is a key reason why most of the money invested in training is wasted.
When I first came to the US, I headed up a product line within a division of a large software company. There were two products in this division: Product A (mine) with a selling price of $5,000 per site and Product B at $20,000 per site. Additionally, we utilized a shared sales model - one sales team sold both products.
We'd told the team that both products were important, and we expected growth from each. Why then did sales of Product A decline?