| s | | | | to for improvement and can be measured, |
| | | | consider it a Core Sales Competency. |
| A Sales Speaker advises you to Run your | | | | Perhaps a golf analogy will help illustrate the power |
| Numbers’
don’t Run | | | | of the Business of Core Competencies. A |
| After’ Sales Quota. | | | | self-professed poor golfer with a chronic |
| Imagine for a moment that it is your first day in | | | | slice might attempt to correct the problem by |
| a new sales organization and your sales manager | | | | adjusting his stance — actually aiming away |
| tells you to forget about Quota — block it | | | | from the fairway so that the slice hopefully lands |
| out of your mind. You may think they’re | | | | the ball in the middle. |
| out of their mind. How can anyone possibly lead a | | | | In contrast, a low handicap golfer with a chronic |
| sales organization or manage their individual sales | | | | slice might address the problem by adjusting their |
| effectively without focusing on Quota? | | | | grip, rotating their hips, or adjusting the arc of |
| After all, in the world of outside sales, you either | | | | their swing. In other words, good golfers address |
| meet your Quota or eventually you’ll be | | | | the core competencies of the swing vs. adjusting |
| outside the door looking to meet some other | | | | peripheral elements. |
| sales force’s quota. | | | | So what are the 3 Core Competencies? |
| But what if I told you that’s the first step | | | | Core Sales Competency 1: Conversation to |
| toward exponential revenue growth. Sales | | | | Appointment Ratio. |
| success is not about running after quota each | | | | Don’t worry if you have never heard of |
| month or year. Success comes from a Process; | | | | let alone measured or trained to’ this |
| proven steps to meet benchmarked competency | | | | sales competency because if you haven’t |
| levels and a focus on the essential elements and | | | | you’re in the majority
not the minority. |
| powerful routines that maximize your sales | | | | Your conversation to appointment |
| effectiveness week in and week out. | | | | ratio’ is how many conversations you |
| Let’s first define what we mean by a | | | | must conduct with target prospects to achieve 1 |
| core competency. We will then introduce | | | | new sales appointment. |
| the 3 Core Competencies, and spend our time | | | | The national average is in the 4-18% range. That |
| understanding how they can dramatically increase | | | | is, most sales individuals have about 10-25 |
| your success. | | | | conversations to book 1 or 2 new sales |
| The term Core Competencies refers to those | | | | appointments. That’s why the sales |
| essential elements in the sales process that most | | | | competency of setting new targeted business |
| directly impact your success. These elements are | | | | appointments is the Achilles heel of most sales |
| controllable and measurable, and sales | | | | organizations. |
| professionals can be trained to be proficient in | | | | In fact, that’s why I travel the country |
| these areas. Unfortunately, many sales | | | | showing sales people and sales management how |
| organizations and individuals lose focus — | | | | to improve this critical sales competency so they |
| distracted by peripheral activities or sophisticated | | | | spend a lot less time to achieve more targeted |
| systems that track dozens of different activities | | | | appointments. |
| when only a handful really matters. | | | | Once this competency is improved beyond your |
| Without a foundation built upon these essential | | | | competitors, the benefits are more revenue in |
| elements or Core Competencies, and because of | | | | less time, less sales employee turnover due to |
| all the distractions and roadblocks an organization | | | | low sales appointment activity and a quicker |
| is susceptible to today, results can be mediocre or | | | | ramp-to-quota for new hire sales reps. |
| less. | | | | Core Sales Competency 2: 1st Appointment to |
| Take a look at the following list of actions that | | | | Proposal Ratio |
| are common in a sales process, and select the | | | | What’s the objective of your first sales |
| items that you believe are absolutely essential to | | | | appointment? |
| your success. | | | | Have you defined what you want to happen at |
| - Closing Sales | | | | the conclusion of your 1st appointment? Only then |
| - Developing Prospect Lists | | | | can you actually set up a proficient sales |
| - Setting new Business Appointments | | | | methodology to achieve the defined objective |
| - Running 1st Appointments | | | | more times than not. And with a pre-defined |
| - Working Sales Prospects through the Sales | | | | objective to your 1st appointment you can (1) set |
| Pipeline | | | | a realistic benchmark of success and (2) measure |
| - Post-Sale Marketing | | | | the outcome. It becomes part of your sales |
| - Developing Referrals | | | | performance scorecard.What is a 1st appointment |
| - Reporting and Paperwork | | | | to proposal ratio? It’s simply how many |
| - Documenting Testimonials | | | | times you gain commitment with your prospect |
| Now many of these tasks are important, but | | | | to take the next step, as outlined by your sales |
| they are not all Core Competencies. Yes, it is | | | | process. Depending on your solutions-based |
| important and useful to ask for referrals and | | | | product or service and your sales methodology, |
| develop testimonials from satisfied customers, but | | | | your Next step’ may be one of the |
| your success hinges mostly on the mastery of | | | | following: An on-site demonstration A trial |
| — and attention to — the (3) Core | | | | period of your widget A tour of your |
| Competencies. | | | | operations or manufacturing facility A |
| One simple way to determine whether a routine | | | | no-obligation survey An evaluation and |
| or task is truly a core competency is to ask what | | | | side-by-side comparison, apples to apples A |
| activities are directly related to sales revenue. | | | | solution-based evaluation, apples to |
| After all, sales revenue is how we sales people | | | | orangesWhatever your Gateway’ is, be |
| measure success. That’s our scorecard at | | | | sure to attach a business rule and definition to it, |
| the end of the month. | | | | and then most importantly measure it. |
| We can do that through a series of questions | | | | Defining and measuring this Gateway’ |
| around each element listed above. | | | | will provide you with a Reality Mirror’ of |
| Question #1: | | | | how competent you are with the initial phase of |
| Is it an essential component to the sales mission | | | | your sales process. |
| or is it just an ingredient in the recipe? | | | | So if you have set a realistic benchmark |
| Consider a golfer’s essential competencies | | | | company-wide of a 60% 1st Appointment to |
| from tee-off to last putt. Is the core competency | | | | Proposal ratio and you have sales individuals below |
| the ball — or the club? Or is it the golf | | | | it, you can pro-actively provide them with |
| swing and putting stroke? | | | | targeted coaching and support tools to help them |
| | | | achieve the standard benchmark. And that drives |
| Question #2: | | | | more revenue. |
| Can it be measured routinely and accurately with | | | | Core Sales Competency 3: Closing Ratio |
| a napkin, pencil, and calculator? | | | | The Closing ratio is the number of proposals that |
| Can you set a realistic performance benchmark | | | | result in new sales. |
| tied to revenue goals? You know you have | | | | As a sales professional, your objective is to |
| achieved this when you can tell a new hire in the | | | | educate a prospect throughout the sales process |
| sales organization the (3) simple numbers that will | | | | so that the prospect can make an informed and |
| guarantee monthly sales success. | | | | clear buying decision. Your goal is to lead the |
| Question #3: | | | | prospect through every gateway and ultimately |
| Can you apply Timely Training and | | | | reach a legitimate yes’ or |
| Powerful Routines around each core | | | | no’ at the end of the sales process. |
| competency? | | | | Identifying (3) key Core sales competencies is |
| | | | different from the superficial values so prevalent |
| We know what sales training’ is, but do | | | | in sales organizations today, such as a |
| we understand why sales training fails? | | | | relentless focus on quota or a superior |
| Timely training’ is NOT a seminar or | | | | drive to succeed or other such motivational |
| one-time event. It requires appropriate structures | | | | mantras. The trouble is the mantras usually lack |
| for learning and application, defining useful | | | | depth and substance. |
| short-term objectives, measuring progress, | | | | First identify your critical core sales competencies |
| working closely with qualified trainers for follow-up | | | | that are tied to routine sales success. |
| and support, and most importantly, organizational | | | | Your next step is to set realistic benchmarks to |
| commitment. Timely training’ is focused | | | | these sales competencies and finally, develop |
| on one competency at a time until the | | | | pin-point sales performance training and support |
| appropriate milestone performance metric is | | | | systems to allow the majority of your sales |
| realized. | | | | force to be routinely sales quota’ |
| So, if you can say it is directly tied to revenue (or | | | | savvy. |
| your end result), is a skill set that can be trained | | | | |