Sales Management - How to Get the "Sludge" Out of Your Company's Sales Opportunity Pipeline - Part 2

In Part 1 of this article we examined the first of two key grounds while gross gross sales chances stall: mediocre sales chance qualification. In this article we will analyze the 2nd key ground why gross sales chances stall: mediocre CRM system utilization/compliance.

What is it so difficult to acquire salespeople to set information into CRM systems?

The short reply is there is a basic struggle between the amount of information entry required to fully dwell CRM system records and the amount of involvement most salespeople have got in performing administrative tasks. Let's expression at this struggle in more than detail.

What information elements are required to fully dwell a CRM system record?

The reply to this inquiry differs by company. However, some common information elements include:
* Company Name
* Division/Department Name
* Charge Address
* Transportation Address
* Contact Name
* Contact Title
* Office Telephone Number
* Cell Telephone Number
* Facsimile Number
* E-mail Address
* Website URL

This is just the basic information required to set up a record. There are also a whole host of information elements that must be entered for each gross sales chance line item. And, if the CRM system is used as a depository for short letters related to prospect and client conversations, a whole batch more typing volition be required. The underside line is if salespeople are going to fully dwell CRM records for each of their opportunities, prospects and customers, they will probably have got to put between 20 proceedings and one hr PER day on this administrative activity.

Why is this a problem?

It is a job because most salespeople have got small involvement in performing administrative activities! I have got personally assessed more than than 1,000 salespeople during the past five years. One of the features measured by the specialised gross sales appraisal diagnostic tests I utilize is the salesperson's involvement in process, procedure, and administrative activities. Approximately 80% of the top gross sales performing artists I have got assessed scored a 1 or 2 (on a scale of measurement of 1 to 10) for this characteristic. These low tons bespeak that many top-performing salespeople have got small involvement in administrative activities. (If you have got been managing salespeople for any length of time, I'm sure this information come ups as no surprise to you!)

How make we work out this problem?

There are two solutions that I recommend: 1. Delegate as much of the information entry as you can to administrative force 2. Switch your salespeople to a system that ONLY tracks information related to new concern activity and the advancement of each gross gross sales chance through the sales cycle. Let's analyze each of these solutions in some detail.

Solution #1: Re-assign information entry to administrative force

If you desire to go on capturing all of the item required by most CRM systems, delegate as much of the data entry as you can to administrative personnel. A side benefit of this attack is administrative force are usually much less expensive than salespeople. (Wouldn't you prefer to have got your expensive salespeople focusing as much as possible on the activities that lone they can do?) Salespeople can provide CRM information to administrative staff in a figure of ways. Here are two examples:
* Salespeople can give concern card game collected during cold phone calls and networking events to administrative force for information entry.
* Salespeople can give administrative force transcripts of written short letters from gross gross sales phone calls or supply the information via voice mail.

If your salespeople are going to execute any information entry, focusing it on information that volition aid you track your salespeople's effectivity at generating new concern and moving chances through the sales cycle. Basically this affects tracking "first meetings" (discovery conversations) with new prospects and the advancement of each gross gross gross gross sales chance through the sales cycle.

Solution #2: Switch to a different sort of system

The 2nd option is switching your salespeople to a system that ONLY tracks information related to new concern activity and the advancement of each sales chance through the sales cycle. The best (and only) system I am aware of is called M-Power. One HUGE benefit of this type of system is it only takes salespeople two to five proceedings per twenty-four hours to execute necessary information entry. Bashes this mean value you should abandon your CRM system? That determination is entirely up to you. While there is certainly value in capturing historical information about your salespeople's activities, what is absolutely critical is having a clear apprehension of their new concern coevals activities and the position of each of their gross sales opportunities. If you take to utilize M-Power in combination with your existent CRM system, you may be able to share information between the systems and avoid reduplicate information entry. M-Power is tightly incorporate with salesforce.com, and it also have interfaces to other commonly-used CRM applications. Regardless of the pick you make, retrieve that the cardinal to improving CRM system use and conformity by your salespeople is minimizing the amount of administrative work they have got to perform. Re-assign as much information entry as you can to (lower cost) administrative resources and focusing your salespeople's information entry on new concern activity and gross gross sales chance position updates.

Conclusion

If you desire to better the quality of your company's sales chance pipeline, focusing your attempts on solving two key problems:
1. Poor gross sales chance makings
2. Poor CRM system utilization/compliance

If you implement the suggestions made in this two-part article, you will enjoy:
* Greater gross sales prognosis truth
* Fewer "stalled" chances
* Type A steady flowing of NEW chances being added to your company's pipeline.

15 Steps to Networking Success - First Contact to First Meeting

Not many people really like networking. What should you talk about? How much should you talk? What questions should you ask? What's the best way to cement the relationship?

Well you're in luck! It's easier than you think. Just follow these 15 steps...

Ask the potential contact what they do.

Listen carefully to their description of their job or company and pay attention for anything that suggests they are having difficulty with their business.

Summarize what they just said back to them. Comment on something that you find interesting.

Ask a question related to their business; give them a chance to teach you something.

Thank them and ask for a business card.

Do not talk about yourself or your business.

When they ask about you or what you do, give them a succinct memorable answer that you have prepared ahead of time and memorized.

Give the contact a business card when they ask for one.

Thank them and tell them that it was interesting conversation.

But that's not all -- you've got to follow up or your great first impression will be forgotten by the second cup of coffee the next day.

Send an email the next day -- keep it short.

Mention something you thought was interesting from the conversation.

Either ask an open-ended question or give them a link or referral to something that they might find useful -- create a relationship of obligation; either of them to you or of you to them -- something that legitimizes your correspondence and keeps it going. Remember, people like to help others. If you ask the contact for some information that gives you a reason to repay them later and that means continuing the relationship.

Wait for them to follow up, when they do, suggest a meeting in person to learn more about their business.

Before you call, send an email specifying what day and what time you will call.

Call to confirm the meeting.

First contact to first meeting in 15 easy steps -- now go out there and start networking!

Do You See Through Your Client's Eyes?

It's a big shock to realize that no one really cares about your business, at least in the beginning of the process. What people do care about, and want to know, is what your business can do for them.

You can imagine that information about how long you have been in business or why you started your company isn't the most intriguing introduction. So why do so many business owners do it?

I know you love what you do and you're crazy about your business, me too! It's just that most other people, including prospective clients, aren't thinking about your business. They are concerned with their own lives and what is important to them.

Think about what you prefer when you are in the position of a being a client. Would you rather learn about the background of the business or would you like to hear about how the business can serve you? What we all really want to know is, 'what's in it for me' (sometimes referred to as tuning into radio station WIFM).

This quote by John C. Maxwell sums it all up: "People don't care how much you know -- until they know how much you care."

So how can you know what your clients care about? Simply put yourself in your client's shoes and imagine what it is they want to know. Think about what issues they are facing and what they need.

If you don't know what your clients are thinking, you need to find out. The best way to find out is to listen to what your clients are already telling you. You can also ask them directly or with a survey.

Once you know the situation your potential clients are in, you can address it and share how your business can support them. Speak directly to them and let them see that you understand their situation and how your business can help.

Here's an example to show the difference between the perspectives of the business owner and the client:

* Perspective of the Business Owner – We are a talented group of tax consultants who have been in business for 12 years. Our company prides itself on delivering outstanding services to small business owners. Our consultants are experts in advising on the appropriate tax services and we strive to deliver value throughout the process.

* Perspective of the Client – Are you a small business owner who would love to never have to file a tax report again? If you would like to spend more time on your core business and end the frustration that comes with filing taxes we would love to talk with you. Our clients feel confident and relaxed knowing that they don't have to worry about penalties, mistakes or missed deductions.

Can you feel the difference? Which company would you hire to do the taxes for your business?

Implement the perspective of your clients into all of your communication, written and verbal. Think about reducing words like 'us' and 'we' and use words like 'you' and 'your' more often. You can also use questions in your copy to help potential clients identify themselves like the first sentence of the Perspective of the Client example above.

Look closely at all of your communication and see where you can make some changes. Think about areas like:

Written Words (copy)

- Website

- Letters

- E-mails

- Brochures

- Business card (always use the back)

Spoken Words

- Networking

- Telephone conversations

- Speaking

- Videos

Make the shift, turn it around and think about your business from your client's point of view. Then get into action and change the words you write and the words you speak when communicating what your business offers.

Not only will your clients find this much more attractive, it makes doing business a lot easier for you.

© Stephanie Ward, 2007