5 Steps to Grow Sales by 33% in 12 Months

Posted by Dave Kurlan on Wed, May 11, 2022 @ 08:05 AM

I'm a baseball guy and a die hard Boston Red Sox fan but I can't bear to watch them right now.  They are playing the worst baseball since I was 10 years old so that's going back 55 years!  It's not hard to understand why they are so bad because the data tells the story.  Their stats show that as of May 9, 2022 their bullpen has 9 blown saves.  Bullpens rarely blow 9 saves over a full season never mind over five weeks but if you look deeper, they wouldn't be in so many close games if their offense was producing.  Only three guys (JD Martinez, Xander Boegarts and Rafael Devers), are hitting!   Coaches will review game video and hitters will take extra batting practice to work on their mechanics and timing.

Sales teams go through periods like this too but sales leaders rarely seek out the data that would immediately point to the real problem.  They tend to hope things will improve and go from there. However, there are several levels of data to be reviewed so let's take a look.

As the article title suggests, there are five steps you must take to grow sales by 33% in 12 months.  You can't pick and choose as all five are required.

1. IDENTIFY BOTTLENECKS - A quality CRM application, like Membrain, will show your win rates, age in stage, conversion ratios, pipeline velocity, pipeline volume and pipeline quantity and more.  Dig into that data to determine year over year changes and identify where your bottlenecks have been and where they are today.  Be mindful that this is lagging data and are merely symptoms of the real problems!  (My personal favorite is the Baseline Selling edition of Membrain)

2. IDENTIFY THE REAL REASONS - An OMG Sales Team evaluation will explain why you have those bottlenecks and why your team gets the results it gets.  Note which of the 21 Sales Core Competencies are to blame - by team and individual - and more importantly, how much revenue is being left on the table and who is capable of upping their game.  For example, are deals getting stuck because salespeople aren't capable of reaching decision makers?  We know that salespeople who can begin with the decision maker are 341% more likely to close the business!  A training curriculum can be designed from these conclusions. Learn MoreRequest Samples (Request Sample Sales Force Eval)

3. PROFESSIONAL OUTSIDE SALES TRAINING - Provide your sales team with appropriate training to close the competency gaps, improve skills, and achieve better execution.  This should not be a one or two-day event.  Change requires on-going, long-term training to change beliefs, approaches, strategies, tactics and develop skills!

4. DAILY COACHING - Sales managers must provide daily, one-on-one coaching to their salespeople to help them with their individual gaps and improve their Sales DNA.  Only 7% of all sales managers come equipped with effective coaching skills so they will need to be trained and coached in order for them to provide effective coaching.

5. ACCOUNTABILITY - Sales Leaders must hold sales managers accountable for coaching as sales managers hold their salespeople accountable for change.

Once you have the data and take action, there is absolutely no good reason why you can't bump sales by at least 25%!  That's right, AT LEAST 25%.  If everyone improves by just 10% you will grow sales by 33%!

  • 10% more opportunities
  • 10% higher average sale
  • 10% greater win rate

That comes out to 33%!  Don't believe me?

Start with monthly goals of 20 opportunities, a 20% closing rate, and a $20,000 average sale. That translates to 4 sales for $80,000 or $960,000 annually.  10% more equates to:

  • 22 opportunities
  • 22% closing rate
  • $22,000 average sale

That's 4.84 sales at $22,000 which totals $106,480 per month or $1,277,760. A 33% increase in revenue!

What are you waiting for?

Topics: Dave Kurlan, sales training, Sales Coaching, crm, omg, how to increase revenue, sales increase, membrain, sales team evaluation

Can Salespeople Really Double Their Revenue by Solving This One Challenge?

Posted by Dave Kurlan on Tue, Oct 27, 2015 @ 23:10 PM

I've written about our son around 30 times over the past 10 years and in those articles where I mentioned sports, the sport was always baseball. For the last three years, his fall sport has been cross-country and in the past two months he has won 6 meets. This year, he transitioned from participating in to winning his events.

While there are several sales analogies I could point to for this turn of events, there is one in particular that is crucial if your company sells more than one product or service.

Over the years, one of the common frustrations that executives have shared with me is that so many of their salespeople - even their good ones - were one dimensional.  They sell only one product or product line out of many. They sell to only one type of account. They thrive in only one vertical. They excel with only one particular level of decision maker. And the rhetoric is always similar too. "If these salespeople could just go from being good at one thing, to being good at two things, then we would double revenue!" So maybe they wouldn't double revenue, but certainly they could achieve a sizable increase.

Why is it so difficult for salespeople to go from master of one discipline to master of multiple disciplines?

They get comfortable.

Here's another analogy. Restaurants. You wouldn't go to an Italian Restaurant to order a burger, any more than you would go to a Chinese Restaurant and order shepherd's pie. And if you have some favorite restaurants, you probably don't vary much from the dish you always order there because it's what you like that they make so well.

We get comfortable.

So what caused our son to suddenly perform so well in cross-country? He loves to win even more than he likes competition. And when he sensed that he could actually succeed, he committed.

How do you accomplish the same thing with salespeople?

There are five things you can do:

  1. Stop complaining about it and make it a requirement for continued employment.
  2. Support the change by helping them get some early wins.
  3. Learn why the alternative sales target is so difficult or scary and coach to overcome the barriers.
  4. Offer them better direction and guidance on their approach, positioning, questioning and tactics.
  5. Raise your own expectations and those of your salespeople.

Over at Top Sales Magazine, there is a brand new look and they have gone to a larger, monthly magazine. I have a feature article about Mastery of Sales on page 16 of the November issue and you can download it here.

And speaking of competition, the SellingPower Blog has a terrific article about how Motivation is not usually the problem when it appears that salespeople aren't motivated! 

Finally, join me today (October 28, 2015) at 11 AM ET for a discussion on the role of Benchmarking and the Perfect Fit Analysis when it comes to effective Sales Selection.  Register here.

Topics: Dave Kurlan, Sales Accountability, how to increase revenue, Baseball, sales increase, cross country

Driving, Asking Questions, Inside Sales, and Sales Process with a Twist

Posted by Dave Kurlan on Tue, Sep 08, 2015 @ 06:09 AM

Here's a quote from an article I wrote that appears now on the SellingPower Blog.  It's an analogy to help you understand why asking questions is so difficult for most salespeople.

"You’ve been driving a car since you were a teenager, but your cars have always had an automatic transmission and you’ve always driven on standard roads. Now we will ask you to drive a much larger car, drive it at faster speeds, on an obstacle course, with people in your way. Oh, and one more thing – for the first time, you’ll be driving a six-speed manual transmission. You might be afraid to take your foot off the clutch and put the car into first gear because, if you’re not careful, you might kill those people standing in front of your car!

"That’s how salespeople sometimes feel when they need to be liked and are expected to ask their prospects some really difficult questions. Salespeople think someone will be killed – and they worry that it might be them!"

Read more of the SellingPower article here.

And this is a quote from an article I wrote that appears on the Membrain Sales blog.

"We would have recommended 6 of their 7 top performers and only 1 of their 9 bottom performers. We would have been correct on 14 out of 16, or 88% which comes within a few percentage points of our usual predictive accuracy of 92%.  This is scientific sales selection. It's a necessary part of an overall scientific approach to sales and the sales force."

Read more of the Membrain article here.

This is a quote from an article on how to increase your sales by 20% by getting your sales process right, published right here on my Blog while most people were finishing up their summer vacation.

"There is a huge misunderstanding when it comes to sales process.  It's a lot like electrical work.  Everyone needs it, but they think that because they know how to change a light bulb they don't need to call an electrician.  Getting your sales process right is a lot more like needing electricity in the middle of a stone wall with no nearby source to tap into.  For you?  Impossible. For an electrician?  It's all in a day's work."

Read more of the article on sales process here.

This is a quote from another article on how to increase your sales by adding a twist to your sales approach.

"Regular readers know that I often champion the cause for a consultative approach to help differentiate and sell value in modern times.  But like I said at the outset, everything old is new again and this sales hack brings some presentation skills back to the early stage of the sales process."

Read more of the article on how to use this "everything old is new again" twist here.

This week's Top Sales Magazine features an article that I wrote 8 years ago!  It explains what integrated sales force development is and this morning, when I saw it in the magazine and reread it I felt that it was ahead of its time in 2007 and extremely applicable in 2015.  You can read that article here.

Finally, I'll be speaking on coaching salespeople at Inside Sales-Boston this Thursday, September 10.  If you're already planning to attend I'll see you there.  Otherwise, if you're in the Boston area, change your plans and catch the terrific lineup of speakers!

Topics: Dave Kurlan, sales process, sales force development, asking questions, inside sales, sales increase, selling power magazine, top sales magazine

The Sales Force with Over Achievers That Don't

Posted by Dave Kurlan on Wed, Mar 25, 2009 @ 22:03 PM

Huh?

That's right. Today I heard about a CEO who told one of my colleagues that all of his salespeople over achieve.  In the same phone conversation he mentioned that sales are down 20%.  Can you imagine where sales would be if his salespeople under achieved?  

I think that many CEO's are in a time warp.

Despite the struggles of their sales force in this economy, they still view the sales force as they remember them when times were good. 

The problem with this is that even the good times did not accurately define these salespeople.  Salespeople who succeed when times are good but struggle when times get tough are not over achievers.  They are mediocre salespeople who simply don't get in their own way.  Over achievers find ways to succeed in all conditions, good and bad.

I think that many CEO's are in denial.

Despite the struggles of their sales force, they continue to look at the pipeline and say to themselves, we'll be okay as soon as these deals close.  But the deals aren't closing and with each passing day companies are less okay then they were the day before.

I think that many CEO's are scared shitless (the only truly accurate word I could type there).

Because of the struggles of their sales force, they look at the numbers, down 90%, down 75%, down 50%, down 25% and wonder how they can turn it around.  It can be turned around but they have to be proactive, not reactive.  They have to be aggressive, not passive.  They have to work on the right end of the problem - revenue - not just costs.

Truth is, our data shows that only 6% of all salespeople over achieve.  And another 20% can become over achievers.  Who do you want on your sales force and what are you willing to do to develop them or recruit them?

(c) Copyright 2009 Dave Kurlan


 

Topics: Dave Kurlan, sales hiring, assessments, selling, Management, Sales Force, leadership, over achievement, declining sales, improve sales, assessment, sales candidates, over achieve, Under achievers, hiring salespeople, mediocrity, overachievers, sales increase, Performance, Economy, sales assessments, declining revenue

Change Ready Companies Experience Faster Success in Sales Development

Posted by Dave Kurlan on Mon, Jan 19, 2009 @ 09:01 AM

I was thinking about the difference between the clients that achieve rapid progress, with very measurable change, in the first six months of sales development versus those that show more typical progress where change has begun to take place but it might not be measurable yet.

It's a fairly simple difference.

They were change ready.

Rather than resisting change for three months and then slowly embracing those concepts they were comfortable with, the change-ready clients embraced the concepts from the start.

Are you change ready?

(c) Copyright 2009 Dave Kurlan

Topics: Dave Kurlan, sales, sales management, selling, increasing sales, sales increase, change ready, sales development, measurable change

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Best-Selling Author, Keynote Speaker and Sales Thought Leader,  Dave Kurlan's Understanding the Sales Force Blog has earned medals for the Top Sales & Marketing Blog award for nine consecutive years. This article earned a Bronze Medal for Top Sales Blog post in 2016, this one earned a Silver medal for 2017, and this article earned Silver for 2018. Read more about Dave

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